MetLife India Insurance Company LtdPage|
MetLife India Insurance Co. Pvt. Ltd. Is one of the largest, strongestand most respected financial organizations in USA. It was incorporatedin India on April 11, 2001 as a joint venture between MetLifeInternational Holdings Inc., The Jammu & Kashmir Bank, M. Pallonjiand Co. Pvt. Ltd. And other private industries. The mission of thecompany is to provide 5 million customers in India world classsolutions for financial security and in the process add significant valueto its shareholders, associates and society by 2010.In order to facilitate its mission the need of the company was to analyze thefactors responsible for lapsed Policies, and go for the revival of the same. Keeping inview the need of the company I took it as my Research Problem and developed theQuestionnaire with the HR Department. To facilitate this process firstly I approachedFA’s of various branches of J&K Bank and discussed the matter with them. After seeing their positive response towards the same problem as discussed above thedetails of customers was made and were approached personally with the prior appointment at a convenient place of the client at a suitable time and day.The Research was conducted in Srinagar City. As this is a ExploratoryResearch different branches of J&K Bank were allotted to me to discuss the cases of Lapsation with the Insurance Managers/CSO for the smooth conduct of the Survey.About 50 customers were contacted at various J&K Bank branches and at Head OfficeOf MetLife India Insurance .
The main objective of the study is to know the actual problem of lapses and loopholes in the whole system/process,
The following objectives were set for the present study:
1)To rectify the errors in the system which led PSP’s and Monthly’sto appear in the lapsed list.2)To find the discrepancy in the data for the rest of the modes.
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