Learning Experience

Week 1
The first day of the internship started with self-introduction of the intern to the
branch staff. For next few days, the intern spent his time by learning about the
company’s history, organizational structure and types of polices the company offers
to public. On the first week the work given to intern was to speak with the insurance
agents who were inactive for a long period and to collect details regards the reason
for their inactivity. The details regarding the rate of premium allowed for each plans
and the commission rate for agents were explained to the intern by the Branch
Manager. Rest of the days went with fixing appointment with agents and meeting
them with persons. Through this work the intern came to know how the agents
approach the public to get policies and the hurdles they face to overcome the public
questions. The survey made by intern was helpful for the branch to know the reason
for their agents inactivity. The intern was guided by his branch manager throughout
the week.
Week 2
The second week started with helping the underwriting team in converting policies.
The policy forms which are filled is sent to the underwriting team who convert them
to policy by entering them in a software . The authority to see the operation is with
the underwriting head and branch manager. The intern learned about the way agents
get recruited. The intern attended the agent training sessions ,which was very useful
for the intern. The intern was given work to prepare a poster for advertising regards
agents and sales manager recruitment. Remaining days went with face to face
interaction with agents and alerting them regards targets. Field work with clients
suggested by agents helped the intern to get an idea of how the insurance policy is
delivered to public and making them to buy it.
Week 3
The third week started with work regarding commission calculation for agents and
sales managers. The intern was given work to calculate the commission for agents
according to their base they got by policy inflow. The reward system was let known
and the intern was given duty to allocate monthly rewards to the agents and sales
managers according to the slabs. Through this works the intern got idea about the
reward system and commission rate set by the branch to motivate the agents and
sales managers. Field work with sales managers was conducted and the intern was
let to speak with the agents and clients guided by sales managers. The week ended
with public survey , in which the details were collected and given to branch
manager. Through this survey the branch was able to find people who are without
insurance policy.
Week 4
The fourth week started with field work with sales managers to meet the people
who didn’t own a policy. Another survey was conducted to find the interest and
awareness among employees on working as an agent as part time and benefit from
it. Agent recruitment was done and training program with high authorities was
given to agents, and the intern attended those meetings and program. The last days
went with making phone calls to clients and reminding them regards policy renewal
and monthly contest reminder to agents. By this rewards the intern came to know
about the initiative steps taken by HR in motivating the agents and getting business
from them.