The Journey – UG Internship

THE

JOURNEY
SALES INTERNSHIP

Corporate’s
Right Skill Set
Expectations
Specific Knowledge
Positive Attitude

Bridging the gap

Between education and employment
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The Journey – Sales Internship

Foreward:

The generation in educational institutions today is not the same as what

they used to be 15 years ago. The expectations from key stakeholders –
industry, Parents and students or the millennial -- have changed
drastically. With the current changes in lifestyle the millennial are living in,
the traditional pedagogy or the teaching model will not suffice. Currently,
it has been noted that only about 20% of the graduates passing out of
various colleges in India are employable. This evident gap in the Industry
Requirements and the Academia is seemingly the most common reason
for this figure. Skilled workforce is the need of the hour. Supply has to
meet demands for which while the schools, colleges and employers have
to rise to the occasion, the onus mainly lies on the students themselves.
They have to take up the mantle and equip themselves with the
necessary weapons to face the real world jobs and Internship programs
offer the right platform to achieve the same.

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The Journey – Sales Internship

Index

1. About Shriram Life Insurance

2. The World Outside – The Harsh reality
3. The Journey- What? Where? How?
4. The Journey – Where are we heading?
5. Process of execution

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The Journey – Sales Internship

About Us- who are we?

Shriram Life Insurance is a part of Shriram Capital which is a 45 years old

Conglomerate established with a mission of serving the under-served section
of the society. With the AUM value of Rs 1Lakh Crore, the group actively
serves more than one crore customer PAN India with strong prominence in the
southern part of the country.

Shriram Life Insurance has become one of the only 3 players in the
insurance industry that has made profits after 10 years of operation. The
company's performance stands out in efficient use of capital and low cost of
operations with an annual business of 1500 Cr last financial year.

In line with group philosophy, Shriram Life has significantly focussed on

Inclusive growth by taking life insurance to the section where it is needed the
most — The 'AAM AADMI' (Common Man). The Founders have always
maintained a firm focus in the rural market since they put their first step in
1974 towards building the group. The standing committee of Parliament on
Insurance, Headed by Honourable member of Rajya-Sabha Dr. Maya Singh has
applauded Shriram Life's sincerity towards business through socially weaker
segment and policies sold in rural areas. Shriram Life generates more than 40%
of its business through the segment, again a confirmation of the business
model.

The Company has jumped up to the 5th Position on NOP from 8th position
last FY. The Company is poised to make further growth and achieve bigger
milestones in the years to come.

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The Journey – Sales Internship

The World outside- The Harsh Reality

The total enrolment across the country into various levels of courses reflects
that the highest number of students are enrolled at the under graduate level.
Out of the total undergraduate enrolment, 40.14 lakh enrolments for
Commerce stream and 5.97 Lakh students in Management was observed.

As per research data by All India Council for Technical Education (AICTE),
around 2, 00,000 students graduated from 5,000 management institutes in
the year 2016-17 out of which it was observed that only 7% was employable
and 47% of the MBA grads were placed at an average package of 3-4 lakh per
annum which was 4% lesser than that of the previous year. The trend is
currently on a decreasing spree.

It was then after research

arrived at that this state of
affairs was attributed to
the outdated curriculum
and the mindset resulting
in un-employability.
Employers need to work
with education providers
so that students learn the
skills they need to succeed
at work, and governments
also have a crucial role to
play. The need for re-
skilling and up skilling
students is urgent and is
quintessential.

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The Journey – Sales Internship

The Journey- What? Where? How?

While the unemployment number is on the rise, the vacancies across the
sales and marketing domain are on the rise. The current vacancy stands at
more than 125000. This vacancy only shows the kind of perception
created and developed across the young minds. Sales has changed, it is
now more oriented towards providing solutions inorder to fulfill the social,
financial goals of people.

In view of this evident gap between the academia, student minsdset and the
industry, industrial visit programs popularly internship or apprenticeship
programs have seen a great fit and are known to play a major role in bridging
this widening gap.

Shriram Life Insurance Company has taken an initiative in the form of an

internship program to actively enrich and nourish the young and
dynamic talents and mold them into shapes that will fit the Industry right
thereby leading to a win-win synergy.

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The Journey- What? Where? How?

Objective: This program intends to train the students on the most basic skill-
sales and bridge the gap and enrich the students with the requisite skill set
that will make them future job creators.

What are the components of this training program?

This training program entails the following major components-

∑ Investment
∑ Protection
∑ Sales as an art/skill

What are the topics covered?

Investment

∑ Introduction to Indian Financial Market

∑ Securities Market Segment
∑ Mutual Funds
∑ Investment Products
∑ Managing Investment Risks
∑ Measuring Investment Returns
∑ Concept of Financial Planning
∑ Asset Allocation and Investment Strategies
∑ Insurance Planning
∑ Retirement Planning
∑ Tax and Estate Planning
∑ Regulatory Environment and Ethical Issues

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The Journey – UG Internship

Protection

∑ Introduction to BFSI
∑ Introduction to insurance
∑ What Life Insurance involves?
∑ Legal Principles of Life Insurance
∑ Financial Planning
∑ Products of Life Insurance
∑ Applications of Life Insurance
∑ Documentation- Proposal and Policy Condition stage
∑ Underwriting Principles
∑ Payment
∑ Regulatory Aspects
∑ Life Insurance as a career
∑ Sales Process
∑ Customer Services
∑ Grievance Redressal Mechanism

Sales

∑ What is Sales?
∑ Effective Communication
∑ Characteristics of Sales Professional
∑ Sales Process- the 9 steps approach
∑ Role Plays
∑ Benefits and Opportunities
∑ Real Time hands on sales assignments

Required Streams-

∑ MBA

Duration of the Program

45 Days

Location-

Pune
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The Journey – UG Internship

Key Result Areas-

Interns will oversee many aspects of a campaign throughout the entire lifespan
of a product, service or idea. Interns are likely to have a great deal of
responsibility early on and will be required to manage their time and duties
themselves. These responsibilities will include:

∑ Designing and implementing a strategic sales plan that expands

company’s customer base and ensure its strong presence
∑ Building and promoting strong, long-lasting customer relationships
by partnering with them and understanding their needs
∑ Identifying emerging markets and market shifts while being fully aware
of new products and competition status
∑ Identifying business opportunities by identifying prospects and
evaluating their position in the industry; researching and analyzing
sales options.
∑ Maintaining quality service by establishing and enforcing organization
standards
∑ Sales Experience
∑ Overseeing and developing marketing campaigns
∑ Conducting research and analyzing data to identify and define audiences
∑ Devising and presenting ideas and strategies
∑ Compiling and distributing financial and statistical information
∑ Organizing events and product exhibitions
∑ Updating databases and using a customer relationship
management (CRM) system
∑ Coordinating internal marketing and an organization’s culture
∑ Monitoring performance
∑ Conducting corporate presentations on investment and protection

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 The Journey – UG Internship

What are the stages of this training program?

Some of the concerns and challenges interns face seem to occur in a

predictable order. Each stage has its own obstacles and opportunities.
These concerns must be resolved for them to move forward and continue
learning and growing.

Subject Knowledge
Sales Training Market Exposure

The Final
Competition Competence

This internship gives the young minds to taste and challenge their own
selves and come out with flying colors with rigorous training on market
related content, skill based training and hands on sales experience in
the market.

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 The Journey – UG Internship

Process of Execution

The process that would be followed during the entire duration of the internship is mentioned below:

1. Phase 1:
a. The interns would be trained for the first section of the Series XA course (Introduction to
financial Market, Securities Market Segment, Mutual Funds, Managing Investment Risk,
Returns, Concept of Financial Planning and Insurance Planning).
b. Tests would be conducted based on the portions that have been covered in the class.
c. Students would then be introduced to the BFSI industry, specifically the insurance sector, the
company’s history and the products of the company.
d. The students will be introduced to sales and would be taught how to use the knowledge
about the subject and related product and would be sent to the market.

2. Phase 2:
a. Interns would be taught the process of lead generation, customer profiling and how to interact
with the customers.
b. Interns would perform cost-benefit and need analysis of potential customers to meet their
needs.
c. Interns would be guided through role plays, demos and other mediums to ace the art of talking
to the customers.
d. Interns would meet these customers to establish, develop and maintain
positive relations.
e. Interns would be taught to start a conversation with the potential customer, dive into the
need analysis, and place the products as a solution according to their need.
f. Interns would be taught the art of closing the deal and get the customer on-board with
the customer.
g. To get a practical experience of this, interns would meet these customers along with the
mentors to maintain positive relation, perform need analysis in real time, place the products
and close the deal.
h. The results of these would be analyzed and the interns would be taught post sales process,
customer servicing and maintaining the relation with the customer.

3. Phase 3:
a. The interns would go through the remaining training from the NISM trainer (Retirement
Planning, Tax and Estate Planning, Regulatory Environmental and Ethical Issues).
b. Test would be conducted for the students on the covered subject
c. The interns would then be given sales task to plan, strategize and execute at a group
and individual level.

4. Phase 4:
a. The eligible students will then be trained in leadership session.
b. They would then be participating in a PAN India contest.
c. The students will be accordingly mentored and supported to excel.

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Note:
1. We expect the students to have an attendance percentage of at least 85%, otherwise
we would be compelled to terminate their internship.
2. Lunch will be provided to the interns in the office
3. Projector would be needed during the orientation and the training sessions.
4. An agreement would be provided to the selected interns that has to be duly, read and
signed by them which would mark as the start of the internship program.
5. No intern would proceed to the next phase without the completion of the previous one.
6. The registration for the certification exam will be done when the intern completes all the four
phases of the internship.

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The Journey – Where are
we heading? - Outcome

Stakeholders of the Program-

∑ Corporate Partner
∑ College
∑ Students

Outcome of this Strategic Alliance-

The activities that the students will be put through will get them
accustomed to what a Corporate demands from its employees. Some of the
skills and benefits that will be acquired and put to practice are as follows-

∑ Professional Certification
∑ Increased Value Addition to the existing Curriculum
∑ Time Management
∑ Theory and Practical Coherence
∑ Goal Accomplishment
∑ First Hand experience
∑ Rich Professional Network
∑ Leadership
∑ Soft skills and Communication
∑ Corporate Networking
∑ Skilled and Industry qualified Candidates

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The Journey – UG Internship

For queries, please

contact us on the below-

Corporate Address: Ramky Selenium, Plot No.

31 & 32, Beside Andhra Bank Training Centre,
Financial District, Gachibowli, Hyderabad-
500032 Tel.: +91-40- 23009400 | Extn.: 317
Mobile: +91- 7386868086/ 9032612341/8790929153
E-mail: digitalteam@shriramlife.in
Website: www.shriramlife.com

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