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nakul verma

nakul verma

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Published by Nakul Verma

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Published by: Nakul Verma on Apr 16, 2011
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07/06/2013

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RAJIV ACADEMY FORTECHNOLOGY & MANAGEMENT
SUMMER TRANING PROJECT REPORTOn
CHANNEL DEVELOPMENT
FORMAX NEW YORK LIFE INSURANCE COMPANY LTD.
Submitted for the Partial fulfillment towards the awardof the degree in MASTER OF BUSINESS ADMINISTRATION
Of U P Technical University, LucknowSubmitted ByUnder the Guidance o
VINOD KUMAR Mr. Anil Kumar Roll Number: 0817370101Department of ManagementSession – 2009-10
(I)
 
PREFACE
In its broadest sense summer training project report is necessary to make thestudents of business school familiar with the industrial environment prevailing inthe world. To be competitive and work aggressive, students need to know thepolicies, procedures and the trends going on in the present industrial world.The business of insurance is related to the protection of economic values of assets. The assets would have been created through the efforts of the owner, inthe expectation that, either through the income generated there from or someother output, some of his needs would be met. If asset gets lost earlier, beingdestroyed or made non-functional, through an accident or other unfortunate event,the owner and those deriving benefits there from suffer. Insurance is a mechanismthat helps to reduce such adverse consequences.Insurance plays a major role in different perspective. For economic development,investments are necessary. Investments are made out of savings. A life insurancecompany is a major instrument for the mobilization of savings of people,particularly from the middle and lower income groups. These savings arechanneled in to the investments for economic growth. In order to amenable tostatistical predictions, insurance risks must be handled on a large scale.All organization face changes in their environment with resultant changes in their markets and in the ability to satisfy their markets. Each organization is faced withnew marketing problems and opportunities in their existing and potential market.Marketing decision makers cope with these challenges in a variety of ways. Themarketer’s is being required to forecast, forecast the risk and uncertainness intheir own way, supported by market research.Man on earth can entirely eliminate knows no method but scientific method canminimize the element of uncertainties that can result from lack of information
(III)2
 
without orientation. Market research is a process of collecting information aboutwho, why, and how of actual and potential consumers in a particular market. Themain purpose of market research is the ability to continually foresee both in thelong and short term. This report is the outcome of summer training report at MAXNEW YORK LIFE INSURANCE COMPANY LTD.
(III)3

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