Professional Documents
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SUBMITTED TO:
SAROJ INSTITUTE OF TECHNOLOGY & MANAGEMENT LUCKNOW
(2009-10)
I, vishal tiwari, do declare that the summer training Project Report entitled “ “RECRUITMENT
OF ADVISORS AND SALES OF FINANCIAL PRODUCTS THROUGH THEM”
Being submitted to the U.P. Technical University for the partial fulfillment of the requirement
for the degree of Master of Business Administration is my own endeavors and it has not been
submitted earlier to any institute for any degree
Place: LUCKNOW
Date: (VISHAL TIWARI)
ACKNOWLEDGEMENT
First of all I would like to thank the Management at Reliance Life Insurance co. for giving me
the opportunity to do my two-month project training in their esteemed organization. I am highly
obliged to Ms. Mritunjay shrivastava (Branch manager) for granting me to undertake my training
at 493, Stephen House Ground Floor Gwalior Road, Civil Lines Jhansi (U.P).
I express my thanks to all Sales Managers under whose able guidance and direction specially Mr.
Vijay kr. Sini (sales manager) who was my mentor and helped me a lot, through which I was
able to give shape to my On Job training and work as sales manager. Their constant review and
excellent suggestions throughout the project are highly commendable.
My heartfelt thanks go to all the executives who helped me gain knowledge about the actual
working and the processes involved in various departments.
The liberalization of the Indian insurance sector has been the subject of much heated debate for
some years. The policy makers where in the catch 22 situation wherein for one they wanted
competition, development and growth of this insurance sector which is extremely essential for
channeling the investments in to the infrastructure sector. At the other end the policy makers had
the fears that the insurance premium, which are substantial, would seep out of the country; and
wanted to have a cautious approach of opening for foreign participation in the sector.
As one of the rare occurrences the entire debate was put on the back burner and the IRDA saw the
day of the light thanks to the maturing polity emerging consensus among factions of different
political parties. Though some changes and some restrictive clauses as regards to the foreign
participation were included the IRDA has opened the doors for the private entry into insurance.
Whether the insurer is old or new, private or public, expanding the market will present multitude
of challenges and opportunities. But the key issues, possible trends, opportunities and challenges
that insurance sector will have still remains under the realms of the possibilities and speculation.
What is the likely impact of opening up India’s insurance sector?
The large scale of operations, public sector bureaucracies and cumbersome procedures hampers
nationalized insurers. Therefore, potential private entrants expect to score in the areas of
customer service, speed and flexibility. They point out that their entry will mean better products
and choice for the consumer. The critics counter that the benefit will be slim, because new
players will concentrate on affluent, urban customers as foreign banks did until recently. This
seems to be a logical strategy. Start-up costs-such as those of setting up a conventional
distribution network-are large and high-end niches offer better returns. However, the middle-
market segment too has great potential. Since insurance is a volumes game. Therefore, private
insurers would be best served by a middle-market approach, targeting customer segments that are
currently untapped