Calendar of events 1. Submission of Application to IRDA : July 2008 2.

Signing of insurance referral Agreements : Sep ct 2008

a. !ife : I"I"I #ru$ential% &A&A AI'% (irla Sun !ife% A)i)a b. *on !ife: (a+a+% Reliance% I"I"I !ombar$% (,arti A-a% .uture 'enerali% ",olaman$alam /. Recruitment of "orporate sales team: Sep 2008 0. Replies 1 2eetings IRDA33 i. Sept 08 ii. Dec 08 iii. Jan 04 i). .eb 04 ). 2arc, 04 )i. June 04 ** The copies of replies made to IRDA attached along with Business Update:
PL Group Deal Month June 04 2ay 04 2ar 04 .eb 04 Jan 04 Dec 08 ct 08 Sep 08 Aug 08 Grand "otal ## #$%& Number of Corporates 1 Number of Policy / ndorsement 2 0 / 1 2 4 2 4 1 Commission Boo!ed In Rs Lacs 0.00 0.55 0.26 0.06 0.11 0.26 0.01 1.68 0.01

Non PL Business Deal Month Aug 08 )u( "otal *o) 08 Del,i 9ol:atta 2umbai Nov "otal Dec 08 (angalore Del,i <y$eraba$ 9ol:atta 2umbai Dec "otal Jan 04 (angalore (,anupra:as, *is,ant ;a$a) (,anupra:as, *is,ant ;a$a) S8ati S,arma *arasim,a San$eep (agc,i Ra:es, *air S8ati S,arma San$eep (agc,i &arun Sing, Location 2umbai 'ales Mana(er &arun Sing, Premium Collected in Rs Lacs 0.17 *$+, 0.01 1./8 0.25 +$-, 0.04 0.28 0.52 2./4 1.12 0./6 ,$%. 0.07 2.18 Commission Boo!ed in Rs Lacs 0.01 *$*+ 0.01 0.16 0.02 *$%* 0.0/ 0.01 0.08 0./6 0.16 0.0/ *$/* 0.01 0./0

0an "otal .eb 04 1eb "otal June 04 0une "otal Grand "otal 2umbai &arun Sing, <y$eraba$ 2umbai *arasim,a &arun Sing,

%$%# 2.88 0./0 #$+. 0.12 *$+% +%$-%

*$#, 0./2 0.02 *$#& 0.02 *$*% +$-&

Number of Corporate )ccounts 'l No Name 2f Corporate 1 "e$ar 2anagement "onsulting 2 .orbes In$ia !imite$ / ID=( #ro+ects 0 9alp:ala <an$ma$e #aper 7 &eam A)iation #)t !t$ 5 RR "onstructions 6 Stylus Systems #)t !t$ 8 !alit,a Je8ellery 2art 4 A$)ocates Association "ity "i)il "ourt 10 &ega In$ustries 11 Rosell &ea !imite$ 12 #ra+ay =ngineers Syn$icate Note: To start with these corporates have placed one or two policies with us 3mportant Clients Lost: 'l No 1 2 / 0 7 5 Name of Corporate 2a,aras,tra State #olice "af> "offee Day !u-or #ens "ogni?ant &ec,nologies "lay &elecom "rane Soft8are "2")L Premium 4in 5s Lacs6 127.00 27.00 27.00 100.00 17.00 100.00 #7*$** Loss 3n 3ncome 43n 5s Lacs6 12.70 2.70 2.70 17.00 1.70 10.00 &&$** Location 2umbai 2umbai (angalore !atur *e8 Del,i <y$eraba$ (angalore 2ysore <y$eraba$ 9o:ata 9ol:ata <y$eraba$

Challen(es 1aced: 1. 2ismatc, bet8een e-pectation an$ $eli)erables a. !onger con)ersion time 2. #rospect con)ersions incomplete $ue to e-it of sales team. !ocal presence affecte$% ,ence lost out on continuous interaction /. 2ultiple man$ates gi)en at t,e same time to multiple bro:ers. 0. !ost certain accounts on price 1 cas, rebates 7. Delay in !icensing 8ea:ene$ our competiti)eness

Prospective Deals for the 8uarter 0ul 9 'ep 'l No 1 2 Name of Corporate 9arnata:a <ealt, 2inistry 9arnata:a Roa$ &ransport "orporation Policy <ealt, #olicy 2otor Premium 4in 5s Lacs6 1700.00 :pected 3ncome 43n 5s Lacs6 /70.00 100.00

/ 0

@uality Inn #earl In$ia &ales #)t !imite$

<otel #ac:age !iability 1 '#A

20.00 /7.00

1.70 /.00

3nternal PL Client 5elationship Name Sai Su$,ir Surya+yoti (,agira$,a *agar+una "onstruction B! telecom "ountry "lub S,ir$i In$ustries 9aman8ala "onstructions In$o 8in$ Surana Note: 'tatus pen to see:ing our ser)ices l$ relations,ip 8it, *ational Insurance. Appoints bro:ers only to stu$y policy. #lacement $one by its o8n team Does not in)ol)e bro:ers (ro:er in place. pen to 8or:site management 2eeting specifically for 8or:site management across its properties As:e$ to meet officer ,an$ling insurance. Intro letter sent along 8it, ser)ices brief. *ee$s to accommo$ate t,e ban:ers too. <as promise$ to loo: in our ser)ices 2eeting at our office. Intro letter sent% Decision out of ",ennai. Cill fi- meeting base$ on our )isit to ",ennai #reliminary Discussions 1ollo; Up 5emar!s *ee$s continuous follo8Aup for comfort feel Does not seem intereste$ <as agree$ to ret,in: an$ loo: into our ser)ices Cill re)ert after $iscussion 8it, <R. Discussion on terms an$ con$itions an$ commercials pen$ing from retail team 2eeting to be fi-e$. !ast interaction mi$ June !ast interaction mi$ June "ontinuous follo8Aup reDuire$

The delay in IRDA license is due to third party dependency. However the option management can debate upon is:

Corporate Agency V/s Broking

Corporate )(ent: 1. Regulate$ by IRDA !icense issue$ by IRDA )ia Insurance "ompany 2. Sell one life an$ one non life insurance companies pro$ucts &ie$ to a ma-imum of one life an$ one nonAlife company /. *ot allo8e$ to sell pro$ucts of competitors .ocusse$ mar:eting an$ sales A $isa$)antage if t,e customer 8ants anot,er insurerEs policy. Fnable to pro)i$e inno)ation t,roug, policy $e)elopment 0. Suitable for retail sales : !ife an$ 'eneral insurance 7. 2inimal 1 nil client ser)icing reDuire$ Bro!er:

1. <ig,ly regulate$ !icense issue$ by IRDA $irectly 2. Is t,e matc,ma:er bet8een insurance companies an$ business firms earlier /. .unctions inclu$es a. Structuring an$ placement of insurance co)er b. Ris: management c. "laims management 0. 80A40G of all corporate 1 commercial insurance business 8orl$8i$e are transacte$ t,roug, (ro:ers

5e(ulatory 5e<uirement for )(ency &,e Dualification of t,e corporate agent is $epen$ent on a fe8 regulations set up by t,e IRDA. &,ey are:A 1. 2ain ob+ecti)e in t,e #artners,ip Dee$ 1 2emoran$um of Association is soliciting an$ procuring of insurance business as a corporate agent. 2. &,ere s,oul$ be a permanent employee i$entifie$ as t,e c,ief insurance officer an$ any one officer among t,e organisation s,oul$ possess an AIII 1 .III Dualification from t,e Insurance Institute of In$ia. /. =)ery employee s,oul$ ,a)e complete$ from an appro)e$ institution% at least% fifty ,oursE practical training in eit,er life or general insurance business% as t,e case may be 2ptions 1. &o see: "orporate Agency imme$iately in lieu of Insurance (ro:ing a. 9eep Application as status Duo 8it, IRDA an$ see: "orporate Agency: IRDA mig,t Duestion t,e nee$ for "orporate Agency an$ furt,er $elay t,e process of licensing% reDuiing a cancellation of "orporate Agency license first. b. Recall application an$ see: "orporate Agency: =ntire process of applying 8ill ,a)e to be repeate$ 2. &o a8ait bro:ing license an$ continue 8it, Referral a. .ocus on general insurance t,roug, retail $istribution b. 2aintain limite$ presence an$ operate in corporate space /. &o see: "orporate Agency for #! $istribution an$ a8ait bro:ing license for #! Insurance (ro:ing. Fpon recei)ing bro:ing license gi)e up "orporate Agency.

5ecommendation +st 2ption 1. A8ait bro:ing license an$ continue 8it, Referral %nd 2ption 1. See: "orporate Agency for #! $istribution an$ a8ait bro:ing license for #! Insurance (ro:ing. Fpon recei)ing bro:ing license gi)e up "orporate Agency.