Professional Documents
Culture Documents
INTERNSHIP REPORT ON
BY
Roll No 18550920-057
UNIVERSITY OF GUJRAT
Date of Submission 14/03/2022
Dedication
I'm blissfully dedicating my report to my revered watchmen for all their affection and
course, which energize me in a shape that I make it up until this point. Also, I am
introducing my work to my educators as well as the short work guide, who filled me with
strength; responsibility and regard for follow the best course, by his shocking style and
by most ideal arrangement.
Acknowledgment
Despite whatever else I am grateful to Allah Almighty who empowers me to totally finish
this work. After this I am appreciative to my worshiped guards who have customarily a
wellspring of inspiration for my. They expect a strikingly dependable part for the of each
attempt finish. It was magnificent experience learn under the oversight of experts of
State Life insurance. I'm moreover grateful my directors Sir Nadeem, Sir Waheed, Sir
Mudassar and Sir Azeem BHatti who gave me a strong learning environment. They
guide me and I had the choice to organize this report.
Table of Content
Dedication...........................................................................................02
Acknowledgement...............................................................................03
Executive Summery............................................................................06
Objectives...........................................................................................06
Introduction………………………………………………………………..07
Major Achievements………………………………………………………09
Hirearchy…………………………………………………………………..10
Number of Employees........................................................................17
Main office..........................................................................................17
Time Tables........................................................................................18
Week Detail……………………………………………………………….19
SWOT Analysis....................................................................................22
PEST Analysis.....................................................................................24
Recommendations……………………………………………………….. 25
Executive Summary:
I have done my transitory position report ensuing to playing out the gig in State life of
Pakistan (Gujranwala). It was the piece of my certificate to play out the brief occupation
in any affiliation so I picked the State life inclusion organization of Pakistan.
The vital legitimization for my concise errand to investigate the exercises of this
association. This report contains Introduction, design of large business and alliance
improvement of State disaster protection Corporation of Pakistan. By this peruser will
ready to appreciate about the undertaking.
Additionally, I notice all endeavors which is done by me during the section level situation
in this association. By these tasks I got a huge load of conventional data.
Objectives:
2. To know the clients fulfillment level about the administrations of the State disaster
protection company of Pakistan.
7. To experience different kind of individuals conduct and how to respond with them.
8. To experience how every division interaction is not quite the same as one another.
Introduction:-
INSURANCE:
Insurance is deal between two parties one party called insurer and other pay the
premium and get fixed sum at the end.
Type of Insurance:-
Life Insurance
General Insurance
Life Insurance:
It provide a financial advantage to family or to the insured person of the family.
General Insurance:
It is basically protect you in loss or damage situations.
Home insurance
Health insurance
Property insurance
Accomplishment reward
Inspirational prizes
Remuneration
Benefits
Insurer:
Policy:
Premium:
Agent:
Mission Statement:
“To stay the main sponsor in the country by stretch out the advantages of Insurance to all
segments of society and meeting our responsibilities to our approach holders and the country.”
Vision Statement:
“To guarantee fulfillment of our esteemed policyholders in handling new business giving after
deals administration and streamlining return on Life Fund through a quality culture and to keep
up with ourselves driving life back up plan in Pakistan.”
Major Achievements:
The significant accomplishments of State Life are as under:
On the initiation of the activities, the Corporation took a vital
venture by affecting decrease up to 33% in the expenses on the past and possible
Life Policies to support the Policyholders.
State Life is beneficial association and is delivering profit to the Government of
Pakistan since its initiation in 1972.
State Life plays had exceptionally crucial impact in the financial system by giv ing
work to
individuals of the country as long-lasting workers and as a feature of its promoting force
also, by putting the massive assets in various areas of the economy.
Speculation portfolio additionally remembers venture for Real Estate.
The Paid up Capital expanded from Rs.10 million of every 1972 to
Rs.1100million in
2008.
Speculation pay remembering rental pay expanded from Rs.0.81 billion for 1972
to 19.186 billion of every 2008.
State Life is flawlessly endeavoring to wards its unbiased of making life coverage
accessible to enormous segment of the general public by extending it to average person.
Management Hirearchy:
Chairman
Executive
Directors
Divisional
Heads
Regional Heads
Zonal Heads
Departmental
Heads
Policy Plans:
Sadabahar Plan:
"Sadabahar is an ordinary gift sort of plan and it is with-benefit plan that gives
single aggregate advantage at express stages during the exceptional paying term or
these all advantages are paid in before death. Also, this game-plan has included
Accidental Death Benefit (ADB) rider so the policyholder gets an extra complete
guaranteed expecting there should arise an occasion of loss due to an episode."
This handles a defended instrument for cash plan at the hour of lack. with this course of
action, the policyholder can get more undeniable affirmation and sponsorship
achievement for the family at a sensible expense.
Acceptable age and conditions this blueprint is available to all individuals from the
overall people, created from 20 to 60 years closest birthday. The two individuals and
females could buy this course of action. Terms presented under this game-plan are 12,
15, 18, 21, 24, 27 and 30 years.
Survival Benefits:
"On finish of 33% of the philosophy term, 20% of essential absolute guaranteed can be
taken by the policyholder. Another 20% of the outright guaranteed can be taken on
fulfillment of two-third of the procedure term and the extra 60%% of chief complete
guaranteed despite gathered rewards (if any) will be payable near the fruition of the
technique term assuming that there should be an event of diligence of the guaranteed.
In case the choice to take out a piece of 20% outright guaranteed isn't practiced on the
due or in something like a half year after the due date, a noteworthy honor will
accordingly be added to the philosophy near the finish of a half year. In this occasion on
death of the guaranteed while the course of action is in force, the momentous award will
be payable notwithstanding Basic Sum Assured, Other Bonuses amassed on the
technique and how much any part left with State Life.
On the improvement date, the phenomenal honor will be payable close by every one of
the pieces of the outright guaranteed overflow with State Life, regardless of standard
reversionary awards amassed on the framework.
In whatever amount of the arrangement stays in force, the policyholder could give up
the unclaimed of complete guaranteed close by the related phenomenal honor."
Death Benefits:
"The full essential outright safeguarded despite collected rewards are to be paid on
death of guaranteed any moment while the strategy is in force. In like manner, on the off
chance that passing occurs because of an occurrence, extra total indistinguishable from
one focal outright guaranteed, dependent upon most significant cutoff, will be paid."
"The standard most cut off on the ADB of Rs. 4 million will be valid and premium will be
Determined as required."
Bonuses:
"This is a joint ordinary routine blueprint and covers experiences of two extras say a
couple in the mean time. Costs are payable till the consummation of the predefined term
or till death of both of the defended people, if prior. Jeevan Sathi Plan is awesome for
those hitched couples who need to see the worth in insurance joining for a
correspondingly lesser portion. Besides, house life accomplices who are overall not
insurable can in like way take an interest in the advantages of insurance contract
through this arrangement."
"On death of the following life, again the full scale protected will be paid close by the
fastening rewards. In this occasion the arrangement will end."
Assuming that the following life traverses the term of the method, the particular will be
paid complete secured
close by the related prizes, no matter what the way that without a doubt the
safeguarded has been paid once, on the passing of the key life. On the off chance that
both the life overcome the term of the strategy, the s um guaranteed will be paid to them
generally, just a lone time, close by the related prizes. Uncommon beneficial covers are
in like way open for developing consolidation under the methodology.
Sunehri Policy:
"Sunehri Policy is an imaginative extra security thing. It is adaptable, secure and meets
the difficulties of improvement monetarily. Under a wonderful piece of this blueprint,
from third method year onwards, absolute defended under the strategy and premium
will expand by 6%, per annum without giving any confirmation of insurability. From the
third strategy year forward, the policyholder is given an explanation showing the
progression of money worth of the procedure and all out guaranteed for the year. The
system likewise partakes in the surge of State Life and right now the speed of
compensation is Rs 105 pert housand per annum of the changed opportunity money
respect."
Death Benefit:
"Assuming the presence protected kicks the bucket during beginning two years of
framework issue, the secret crucial absolute defended will be payable. In the event that
the presence protected sneaks through third or later strategy years, the annihilation
benefit payable will be similar to add up to guaranteed fitting to the procedure year of
death despite changed opening money respect."
Maturity Benefit:
Strategy makes on approach festivity closest to foster 70 years of the presence
guaranteed. The improvement benefit partners to cash worth of the approach at age 70.
"Fitting For: the arrangement is reasonable for people who have begun their occupation
and expect augmentation in their remuneration all through a specific stretch of time say
STATE LIFE INSURANCE
Monis Shakeel (18550920-057)
15
a brief time frame. The advancement in premium and complete safeguarded assists
them with meeting their lengthy protection need with expansion in pay."
The cover is accessible to experiences a few spot in the extent of 5 and 55 years of
ages. Most vital term of this helpful advantage isn't permitted to outflank the top notch
paying period of the focal strategy, or 60 years old of the presence planned which
whenever is before.
"While the central arrangement gives a singular total, FIB virtuoso vi des a typical flow
of pay to the wards and help in friendly event the common costs."
"SLIC is present a broad degree of things for packs additionally and this gigantic
number of things are unguarded with such endless advantages and several Riders can
likewise be gotten along with these things."
Pack extra security is additionally reasonable for e very class of workers. Besides, a
wide extent of things can be benefitted by them. All over Pakistan Groups of just a
couple of representatives to different thousand specialists are protected by SLIC.
Number of Employees:
Absolute number of representatives in this protection area is 15 thousand right
now as per last report. There are right around 6 lacs representatives who are the
specialists working and numerous managers who care for every one of the
issues of the workers. All areas have zonal heads and the last one is the CEO of
this protection area.
Main offices:
Time Tables:-
Monday 9 AM to 5 PM
Tuesday 9 AM to 5 PM
Wednesday 9 AM to 5 PM
Thursday 9 AM to 5 PM
Friday 9 AM to 5 PM
Saturday Holiday
Holiday
Sunday
WEEK #1
Spend a whole week in F&A department to check the financial statements and
accounts.
WEEK #2
Next 2nd week spend in HR department to check the daily attendance, daily needs and
some functions of recruiting and hiring.
WEEK #3
3rd week I was work in agency department to check the recruiting and selection
procedures of agents and communicate with agents to know how they sell policies.
WEEK #4
4th week I was started with Audit department how they check and save the policies
record and issue policy numbers or series.
WEEK #5
This week is very crucial because I was worked in PHS department which in known as
policyholder service. In this department we all know about the policies benefits,
premium and maturity and also claim.
WEEK #6
In week 6 I was work in new business department. The department is where when the
new agent is hire doctors take the medical test and check the background of the person.
What skill and experience you believe that you have gain from the
internship?
SWOT Analysis:
Swot examination addresses the characteristics, weaknesses, open entryways and
risks. Everything considered these are the components which depicts the course of the
association that what are the entryways and risks which has a spot with the external
components of the association/affiliation .the characteristics and weaknesses are the
internal components of affiliation that inside depended on the targets of the firm.
Strengths:
Strengths are the key tools which a have the major factor and play an
important role in the success and the achievement of goals.the strengths of the state life
are:
Positive attitude
Higher integrity
These strengths help the organization to achieve their goals effectively and
conveniently.
Weaknesses:
Opportunities:
Whenever we talk about the chances of the state life, there are for the
most part the chances of for the representatives. Representatives can work at whatever
point they need .There are a portion of the open doors.
Enabling individuals
Answering globalization
Threats:
As we know where there are the opportunities there are the threats as well.the
major threat is the government by itself. Because they think that there is an illegal work
and they do not pay the tax. So that is the major threat that a state life is facing these
days. Due to this factor the employees hiring level become low and the ratio of new
employment is very low.
Pest Analysis:
Political Analysis
Political parties and the politics do not as such effect the state life
work as they are not as such related with that factor. But the strike factor affect the work
of the agents and the management.
Economical Analysis
Expansion
Joblessness
These two are the main factors which are relatively related to
the marketing services.
Social Analysis
Social Class framework
Populace
Schooling structure
Society
Strict viewpoint
Pattern of Islamic System becoming solid organization
Technological Analysis
Teaching staff is not able
STATE LIFE INSURANCE
Monis Shakeel (18550920-057)
25
Recommendations:
To improve their functions this corporation sector should train their employees
so efficiently that thay can generate more sales and profit.
They should hold the employees under such tight management that the
employees do not relax as much and perform their duties more effectively.
They should expand their business volumes in the developed cities as well.
The state life should use the most convenient promotional strategies In order to
capture the best agents over.
They should provide their customers with such services that the customer
should not have to wait for the services provider.
They shoukd keep the customer with them and should not leave them after
once.