project report arli - yogesh

8/12/2019 Project Report ARLI - Yogesh

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A

SUMMER TRAINING REPORT

ON

SALES PLAN FOR SELLING THE PRODUCT

Submitted to

MAHARSHI DAYANAND UNIVERSITY, ROHTAK

In partial fulfillment of the requirementFor the award of the degree of

BACHELOR OF BUSINESS ADMINISTRATION(INDUSTRY INTEGRATED)

(IV Semester)

Submitted by

Name: Yogesh ChokenRegn. No.: 1130320034 Roll No. : 1190111228


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CERTIFICATE

This is to certify that Yogesh Choken, a student of the Maharishi Dayanand University,

Rohtak, has prepared his Training Report entitled SALES PLAN FOR SELLING THE

PRODUCT at AEGON Religare Life Insurance Company limited Company under my

guidance . He has fulfilled all his requirements leading to award of the degree of BBA (Industry

Integrated). This report is the record of bonafide training undertaken by his and no part of it has

been submitted to any other University or Educational Institution for award of any other

degree/diploma/fellowship or similar titles or prizes.

I wish his all success in life.

Signature of Faculty Guide:

Name of Faculty Guide:

Designation:

Qualifications:

Seal of the ELC:


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STUDENTS DECLARATION

I hereby declare that the Training Report conducted at

AEGON Religare Life Insurance Company Limited

Nehru Place

Under the guidance of

Mr. Lokesh Sharma

submitted in Partial fulfillment of the requirements for the Degree of

BACHELOR OF BUSINESS ADMINISTRATRION

(Industry Integrated)

TO

MAHARSHI DAYANAND UNIVERSITY,ROHTAK

Is my original and the same has not been submitted

for the award of any other Degree/Diploma/Fellowship

Or other similar titles or prizes.

Place: New Delhi Yogesh Choken

Date: July, 2013 Regn No.: 1130320034

Roll No.: 1190111228


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ACKNOWLEDGEMENT

The beatitude, bliss and euphoria that accompany successful completion of any task would be

incomplete without the expression of gratitude to the people who made it possible with their

every bit of help. As success in any work is credited to hard work, but without a proper guidance

it may be out of ones reach, so with reverence and honor we acknowledge all those who helped

us in carrying out this project successfully.

We avail this opportunity to express our profound sense of sincere and deep gratitude to

Mr. LOKESH SHARMA who guided us with his valuable help in channelizing our effort in

the right direction during the course of the project.

We are also grateful people who filled in the questionnaire and provided us the inputs so that the

sampling data could the prepared.

Last but not the least, we are very much thankful to our friends and well-wishers and all others

who have been instrumental in completion of this work.

.

(Yogesh Choken)


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CONTENTS

Front Page

Certificate

Acknowledgement

Contents

Introduction

Organizational Profile

Product Portfolio

Research Objectives and Scope of Research Project

Research Methodology and Limitations

Data Analysis, Interpretation and Presentation

Conclusion and Suggestions

Limitations

Annexure

References


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CHAPTER 1: INTRODUCTION

1.1 THE TOPIC : SALES PLAN FOR SELLING THE PRODUCT AT AEGON

RELIGARE LIFE INSURANCE, NEW DELHI

At Aegon Religare Life Insurance, We were assigned with the topic as Sales plan for selling the

product for my project work. The selection of the topic was in order to take know how do these

companies generates business through them.

Financial Consultants are those sources of a company who have their own relations and personal

contacts among common public that they use to generate business through.

Company has certain criteria to recruit these Financial Consultants. The steps are as follows.

He should be at least 12 th passed. He should complete IRDA training. He should clear the IRDA exam. He should through successfully the exam and training.

Some other criteria:

He should have good personal contacts. He should have convincing power. He should be above 18 th year old.

Once he through all these steps of recruitment, he becomes the legal Financial Consultant of the

company and reserve the right to sale the policy to any prospect client also he is paid the

commission a certain percentage. There are some reward and tour package also.

1.2 REASON FOR SELECTION OF THIS TOPIC:

The financial sector is one of the booming and increasing leaps and bounce, some of the experts

say only 20% of Indian population is insured which means 80% Indian are not insured and


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therefore having a bright prospect of progress of this sector where I too would like to build my

career and be a part of success story.

The Financial consultants are another channel through which the company sales its policy. It is

really difficult to convince and sale a single policy but since these consultants have their contacts

which they can sale a single policy. Whereas I found my interest in dealing, interacting and

handling a team, because all this most of time park you in some critical zone which becomes

challenge for you and your responsibility becomes to solve the critical situation or problems.

1.3 IMPORTANCE TO THE COMPANY:

After interacting with companys marketing head I got to know that they have many Financial

Consultants but not getting the policies up to the expectations level of the company. Company is

really interested in knowing if there is any mistake or lacking somewhere in process of recruiting

and or the criteria they have fixed for the recruitment. The ultimate purpose of giving me this

topic was to revise its recruitment policy/process.

1.4 LEARNING FROM THE STUDY:

The process of recruitment of AEGON RELIGARE LIFE INSURANCE LTD. How is the training given? What are the criteria of selection? The culture of insurance company particularly of Aegon Religare. What are the problems faced by these financial consultants on daily basis? How to convince and convert the prospect client into real client?


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CHAPTER 2: ORGANIZATIONAL PROFILE

1.1 FORMATION OF COMPANY:

AEGON, an international life insurance, pension and investment company, Religare, a global

financial services group and Bennett, Coleman & company , Indias largest media house, have

come together to launch AEGON Religare Life Insurance Company Limited (ARLI). This

venture is dedicated to build a profitable customer-centric business with scale, providing a work

environment that fosters excellence and innovation. This joint venture will balance a

local approach with the power of an expanding global operation.

ARLI launched its pan-India operations in July, 2008 following a multi-channel distribution

strategy with a vision to help people plan their life better. The fulfillment of this vision is based

upon having a complete product suite, providing customised advice and enhancing the

overall customer experience through superior service.

ARLI has launched a suite of products that are focused on providing the customer with the

means to meeting their long-term financial goals. At the same time product development has

been founded on the tenet of providing the customer with great value. ARLI products such as

AEGON Religare iTerm Plan and AEGON Religare Future Protect Plan have been ranked

among the best in terms of value and have attracted many external accolades.

About AEGON

As an international life insurance, pension and investment company, AEGON has businesses in

over twenty markets in the Americas, Europe and Asia. With headquarters in The Hague, the

Netherlands, AEGON companies employ approximately 28,000 people and serve some 40

million customers across the globe. The companys common shares are listed on three stock

exchanges: Amsterdam, New York and London. AEGON has more than 160 years of experience

with its roots going back to 1844. AEGON holds 26% equity in ARLI.


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About Religare Enterprises Limited

Religare Enterprises Limited (REL) is a global financial services group with a presence across

Asia, Af rica, Middle East, Europe and the Americas. In India, Religares largest market, the

group offers a wide array of products and services ranging from insurance, asset management,

broking and lending solutions to investment banking and wealth management. The group has

also pioneered the concept of investments in alternative asset classes such as arts and films. With

over 10,000 employees across multiple geographies, Religare serves over a million clients,

including corporates and institutions, high net worth families and individuals, and retail

investors. REL hold 44% equity in ARLI.

About Bennett, Coleman & Company Limited

Bennett, Coleman & Company Limited (BCCL) , part of the mammoth Times Group, is Indias

largest media house. It reaches out to 2468 cities and towns all over India. The group owns and

manages powerful media brands like The Times of India, The Economic Times, Maharashtra

Times, Navbharat Times, Femina, Film fare, Grazia, Top Gear, Radio Mirchi, Zoom, Times

Now, Times Music, Times OOH, Private Treaties and indiatimes.com. All of its brands are

multinational in outlook, traditional at heart and national in spirit. From the very first edition on

November 3, 1838 the mammoth BCCL Group has come a long way. By way of the innovativeventure of Times Private Treaties , the BCCL Group holds 30% equity in ARLI.

Strong Parentage

AEGON

Life insurance pension investments

Presence in over 20 markets throughout the Americas, Europe and Asia. 5th largest life insurance company in the world based on revenue. Ranked 103 on the fortune 500 list. More than 5 crore customers worldwide. More than 31,500 employee worldwide


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Religare One of Indias leading integrated financial service group. Services in retail, wealth & industrial spectrums. Presence in more than 460 cities and town and more than 1550 locations across India. Population of india-103 crores(in 2008) 78% of households are aware of insurance products. Growth in no. of policies from 2006-2007 was 149%.

Insurance ownership is as low as 24% .

OUR PRESENCE

NORTH

Delhi-ZONE OFFICE

Amritsar, Chandigarh, Dehradun, Delhi- East of Kailsh, Delhi- Pitampura, Faridabad, Gurgaon,Jaipur, Jalandhar, Ludhiana, Noida, Panipat.

EAST

Kolkata-Zone office

Bhubaneswar, Guwahati, Kanpur, Lucknow,Raipur, Ranchi, Varanshi, Jamshedpur.

SOUTH

Banglore-Zone office

Banglore direct, Chennai, Cochin, Coimbatore, Hubli, Hyderabad, Manglore, Trissur,Trivandrum, Vizag, Salem.

WEST

Mumbai- office

Ahmedabad, Baroda, Bhopal, Indore, Belapur, Dadar, Nagpur etc.

52 offices in 42 cities across 16 states


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2.2 PRODUCT SCOPE:

AEGON RELIGARE LIFE INSURANCES offers a bouquet of insurance solutions to meet

every need. The company caters to both, individuals as well as to companies looking to provide

benefits to their employees.

For individuals, the company has a range of protection, investment, pension and savings plans

that assist and nurture dreams apart from providing protection. The customers can choose from a

range of products to suit their life-stage and needs.

For organizations they have a host of customized solutions that range from Group Term

Insurance, Gratuity, Leave Encashment and Superannuation Products. These affordable plans

apart from providing long term value to the employees help in enhancing goodwill of the

company.

The products of the company are categorized into various sections which are as follows:

A. INDIVIDUAL PRODUCTS

B. GROUP PRODUCTS

C. RURAL PRODUCTS

D. SOCIAL PRODUCTS

E. TAX BENEFITS

For Individuals, AEGON RELIGARE LIFE INSURANCES has a range of protection,

investment, pension and savings plans that assist and nurture dreams apart from providing

protection. Customer can choose from a range of products to suit his life-stage and needs.

For Organizations, AEGON RELIGARE LIFE INSURANCE has a host of customized

solutions that range from Group Term Insurance, Gratuity, Leave Encashment and

Superannuation Products. These affordable plans apart from providing long term value to the

employees help in enhancing goodwill of the company.


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Individual Products:

1. AEGON RELIGARE LIFE INSURANCE Children's Plan,

2. AEGON RELIGARE LIFE INSURANCE Endowment Assurance Plan,

3. AEGON RELIGARE LIFE INSURANCE Loan Cover Term Assurance Plan,

4. AEGON RELIGARE LIFE INSURANCE Money Back Plan,

5. AEGON RELIGARE LIFE INSURANCE Personal Pension Plan,

6. AEGON RELIGARE LIFE INSURANCE Single Premium Whole Of Life Plan,

7. AEGON RELIGARE LIFE INSURANCE Term Assurance Plan,

8. AEGON RELIGARE LIFE INSURANCE Unit Linked Endowment,

9. AEGON RELIGARE LIFE INSURANCE Unit Linked Endowment Plus,

10. AEGON RELIGARE LIFE INSURANCE Unit Linked Pension,11. AEGON RELIGARE LIFE INSURANCE Unit Linked Pension Plus,

12. AEGON RELIGARE LIFE INSURANCE Unit Linked Young Star,

13. AEGON RELIGARE LIFE INSURANCE Unit Linked Young Star Plus

At AEGON RELIGARE LIFE INSURANCES realize that not everyone has the same kind of

needs. Keeping this in mind, varied range of products that customer can choose from to suit all

needs. These will help secure customer future as well as the future of family.

Protection Plans:

Customer can protect his family against the loss of his income or the burden of a loan in the

event of his unfortunate demise, disability or sickness. These plans offer valuable peace of mind

at a small price.

AEGON RELIGARE LIFE INSURANCE Protection range includes Term Assurance Plan &

Loan Cover Term Assurance Plan.


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Investment Plans:

AEGON RELIGARE LIFE INSURANCE Single Premium Whole of Life plan is well suited to

meet long term investment needs. AEGON RELIGARE LIFE INSURANCE provides with

attractive long term returns through regular bonuses.

Pension Plans:

AEGON RELIGARE LIFE INSURANCES Life Pension Plans help secure financial

independence even after retirement. Pension range includes Personal Pension Plan, Unit Linked

Pension, and Unit Linked Pension plus Savings Plans.

Savings Plans:

AEGON RELIGARE LIFE INSURANCES Savings Plans offer flexible options to build savings

for future needs such as buying a dream home or fulfilling childrens immediate and future

needs.

Group Products:1. Group Term Insurance,

2. Group Variable Term Insurance,

3. Group Unit Linked Plan,

4. Gratuity Group Unit Linked Plan,

5. Superannuation Group Unit Linked Plan ,

6. Leave Encashment


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PRODUCT PORTFOLIO

AEGON RELIGARE LIFE INSURANCE offers products as per the life stages of the customersand their respective needs.

Your insurance need will change as your life does, from starting to work to enjoying your golden

years and all the stages in between. Each one of these stages may pose a different insurance

need/cover for you. In this section, we have drawn up the basic life stages and help you analyze

various insurance needs accordingly.


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LIFE STAGES & NEEDS IN HAT STAGES:

STAGE 1: YOUNG & SINGLE

An important stage where one lays down the foundation of a successful life

ahead. Take advantage of the time and power of compounding to ensure that you

build up your dreams. Start saving early.

NEEDS : Save for Home & Wedding Tax Planning Save for Golden Years

STAGE 2: JUST MARRIED

Marriage brings about a significant change. New dreams and new

opportunities also bring in additional responsibilities. While both of you look

forward to a happy and secure life, it is equally important to ensure that

eventualities dont come in the way of shaping your dreams.

NEEDS :

Planning for home / securing your home loan liability. Save for vacation. Save for your first child.


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STAGE 3: PROUD PARENTS

Once you have children, your need for life insurance is even more. You need

to protect your family from an untoward incident. Ensure your protection

umbrella takes into account the future cost of securing your childs dream.

You will want life to go on for your loved ones, and having enough life insurance is a way to

help ensure that.

NEEDS:

Provide for children's education

Safeguarding family against loan liabilities Savings for post-retirement

STAGE 4: PLANNING FOR RETIREMENT

While you are busy climbing the ladder of success today, it is important for

you to take time and plan for your life after retirement. Having an early start

for retirement planning can make a significant difference to your savings.

Think about your golden years even before you have reached them. The key

is to think ahead and plan well using your time and money.

NEEDS

Provide for regular income post retirement

Immediate Tax benefits Lead a secure, independent and comfortable life style in your retirement years.


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COMPARITIVE ADVANTAGE OVER COMPETITORS PRODUCT:

I compared two products, ICICI smart kid unit link and AEGON RELIGARE LIFE

INSURANCE young star, in both the policies parent is insured and child in nominee or

beneficiary,

Both the policies contains same features, only additional rider is available in smart kid is

income benefit rider (IBR), how this rider works? this rider comes in the picture when the

parent expires or becomes permanent disable at that time this rider pay 10% of sum

assurance to nominee,

AEGON RELIGARE LIFE INSURANCE Young star offers Insurance Cover up to 20

Times of Annual Premium. You may Pay Rs. 30000 per year & take Insurance Cover of

Rs. 6 Lacs.

You may take Critical Illness Rider in AEGON RELIGARE LIFE INSURANCE Young

star up to 65 years Age(as it Cheaper than other ULIPS ).

The returns from AEGON RELIGARE LIFE INSURANCE Tax saver, AEGONRELIGARE LIFE INSURANCE Advantage fund are better than the returns from

AEGON RELIGARE LIFE INSURANCE Standard Life Equity Fund.

AEGON RELIGARE LIFE INSURANCE Standard ULIP Returns are over 70% in last 1

year.

AEGON RELIGARE LIFE INSURANCE Young star with Maximum Insurance Cover

of Rs.3.6 Lacs


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2.3 MILESTONES IN THE HISTORY

AEGON RELIGARE LIFE INSURANCE is Indias leading housing finance institution

and has helped build more than 23, 00,000 houses since its incorporation in 1977.

In Financial Year 2003-04 its assets under management crossed Rs.36,000Cr. As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The depositor

base now stands at around 1 million depositors.

Rated AAA by CRISIL and ICRA for the 10th consecutive year Awarded The Economic Times Corporate Citizen of the year Award for its long-standing

commitment to community development.

Presented the Dream Home award for the best housing finance provider in 2004 at the

third Annual Outlook Money Awards Aegon Religare Life Insurance is the first private life insurance company to be granted a

license by IRDA

Rated as the "Best New Insurer - 2003" by Outlook Money magazine, Indias number 1

personal finance magazine

Rated by Business world as Indias Most Respected Private Life Insurance Company

in 2004.

Has the highest brand recall, close to 80% (Source: AC Neilson ORG MARG, April2005)

Has one of the widest branch networks with offices in over 100 cities servicing over 440

towns

2.4 COLLABORATIONS & AFFILIATIONS:

SUBSIDIARY AND ASSOCIATE COMPANIES:

AEGON RELIGARE LIFE INSURANCE Bank AEGON RELIGARE LIFE INSURANCE Mutual Fund
http://www.hdfcbank.com/http://www.hdfcfund.com/http://www.hdfcfund.com/http://www.hdfcbank.com/


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AEGON Religare Life Insurance Company HLSIL

AEGON RELIGARE LIFE INSURANCE Chubb General Insurance Company Ltd.

PARAMETERS PR-MAR 2007-

8 (Rs.Cr)

PR-MAR

008-09 (Rs.Cr)GROWTH (%)

Total received premium 668.40 1532.21 129.23

New business 486.15 1028.94 111.65

Renewal 182.25 503.27 103.47

Effective Premium Income 436.08 887.30 103.47
http://www.hdfcinsurance.com/http://pop%28%27/hlsil.htm')http://www.hdfcchubbindia.com/http://www.hdfcchubbindia.com/http://pop%28%27/hlsil.htm')http://www.hdfcinsurance.com/


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668.4

486.15

182.25

436.08

49.4

1532.21

1028.94

503.27

887.3

135.15129.23 111.65 103.47 103.47173.58

0

200

400

600

800

1000

1200

1400

1600

1800

Total receivedpremium

New business Renewal Effective PremiumIncome (Total)

Group BusinessPremium (EPI)

GRAPH OF FINANCIAL RESULT

APR-MAR 2004-05 (Rs.Cr) APR-MAR 2005-06 (Rs.Cr) GROWTH (%)

(Total)

Group Business Premium (EPI) 49.40 135.15 173.58

2.6 TABLE OF FINANCIAL FIGURES:


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2.8 ORGANIZATION CHART:

Chairman

MD

Retail Marketing Alternative Channel Operation Channel Human Resource

Regional Manager

Zonal Manager

Territory Manager

Branch Manager

Asst. B.M.

Business Dev. Mgr.

Sales Dev. Mgr.

Territory Manager

Branch Manager

Channel Executive

Team Manager

Operation Manager

HR Executive


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CHAPTER 3: RESEARCH OBJECTIVES & SCOPE OF RESEARCH

PROJECT

3.1 PROBLEM DEFINATION:

Recruit consultants were with good background human being and through rigorous process of

recruitment but still not able to perform up to the expectation level of company, HR is not able to

short out the problem why the performance is not coming even after giving the full marketing

support.

3.2 OBJECTIVES OF RESEARCH PROJECT:

PRIMARY OBJECTIVES:

To recruit more and more Financial Consultant and to promote the benefits those are

provided by AEGON RELIGARE LIFE INSURANCES to its Financial Consultants

To find the different way of recruiting and selecting the Financial Consultants who can

produce more and fruitful results.

To study awareness of the AEGON Religare Life Insurance

SECONDARY OBJECTIVES:

To determine the need and purpose of Financial Consultant. To understand the deciding criteria for people to become Financial Consultant. To collect and analysis the information of prospect candidates in order to make them

appear in front of management so that they can be selected as Financial consultant.

To offer suggestions based upon the findings.


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3.3 GEOGRAPHICAL SCOPE:

The same problem was with the all other branches of AEGON RELIGARE LIFE INSURANC

Even out of the Pune city. The management is conducting the same research on a big ground

while my contribution is tiny. Though my sample size and geographical area was defined and

confine to a particular territory but the application of out put from the research are going to be

wide.

3.4 PROJECT SCOPE:

Market segmentation to find the potential consultants for AEGON RELIGARE LIFE

INSURANCE.

To customize benefit package for consultants and help them to overcome their agency

problem arising out of their sedentary nature of work.


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CHAPTER 4: RESEARCH METHODOLOGY & LIMITATIONS

All the findings and conclusions obtained are based on the survey done in the working area

within the time limit. We tried to select the sample representative of the whole group during my job training. We have collected data from Chartered Accountants, Tax Consultants,

Businessman, Share Brokers, Lawyers, Working Professionals, House Wives and Retired

Persons in New Delhi.

RESEARCH PLAN:

1. Preliminary Investigation: In which data on the situation surrounding the problems shall be

gathered to arrive at

The correct definition of the problem. An understanding of its environment.

2. Exploratory Study: To determine the approximate area where the problem lies.

4.1 RESEARCH DESIGN:

Research was initiated by examining the secondary data to gain insight into the problem. By

analyzing the secondary data, the study aim is to explore the short comings of the present system

and primary data will help to validate the analysis of secondary data besides on unrevealing the

areas which calls for improvement.

DEVELOPING THE RESEARCH PLAN:

The data for this research project has been collected through Self Administration. Due to timelimitation and other constraints direct personal interview method is used. A structured

questionnaire was framed as it is less time consuming, generates specific and to the point

information, easier to tabulate and interpret. Moreover respondents prefer to give direct answers.

In questionnaires open ended and closed ended, both the types of questions has been used.


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COLLECTION OF DATA:

1: Secondary Data: It was collected from internal sources. The secondary data was collected on

the basis of organizational file, official records, news papers, magazines, management books,

preserved information in the companys database and website of the company.

2: Primary data: All the Chartered Accountants, Tax Consultants, Insurance Agents, Auto loan

providers were personally visited and interviewed. They were the main source of Primary data.

The method of collection of primary data was direct personal interview through a structured

questionnaire.

4.2 SAMPLING PLAN:

Since it is not possible to study whole universe, it becomes necessary to take sample from the

universe to know about its characteristics.

Sampling Units: Chartered Accountants, Tax Consultants, Lawyers, Business Man,

Professionals and House Wives of IIT Delhi

Sample Technique: Random Sampling.

Research Instrument: Structured Questionnaire. Contact Method: Personal Interview.

4.3 SAMPLE SIZE:

My sample size for this project was 200 respondents. Since it was not possible to cover the

whole universe in the available time period, it was necessary for me to take a sample size of 200

respondents.


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4.4 DATA COLLECTION INSTRUMENT DEVELOPMENT:

The mode of collection of data will be based on Survey Method and Field Activity. Primary data

collection is based on personal interview. I have prepared the questionnaire according to the

necessity of the data to be collected.

4.5 RESEARCH LIMITATIONS:

It was not possible to understand thoroughly about the different marketing aspects of the

Financial Consultant within 90 days.

As stipend, money was not given it was difficult to continue the project work.

All the work was limited in some limited areas of New Delhi so the findings should not

be generalized.

The area of research was New Delhi; It was too vast an area to cover within 90 days.


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CHAPTER 5: DATA ANALYSIS, INTERPRETATION AND PRESENTATION

1. Your Age?

TABLE

Sr. No. Category No. of Respondents Percentage

1 18-23 Years 40 20%

2 24-29 Years 70 35%

3 30-35 Years 60 30%

4 35 & above 30 15%

Total 200 100%

Base 200 respondents

GRAPH

InterpretationFrom the table and graph above it can be seen that

20% respondents age are 18 to 23 years. 35% respondents age are 27 to 29 years. 30% respondents age are 30 to 35 years. 15% respondents age are 35 to above years .

20%

35%

30%

15%

Age of Respondents

18-23 Years

24-29 Years

30-35 Years

35 & above


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2. Marital status?

TABLESr. No. Category No. of Respondents Percentage

1 Married 140 70%

2 Unmarried 60 30%

Total 200 100%


GRAPH

Interpretation

From the table and graph above it can be seen that 70% respondents are married. 30% respondents are unmarried.

70%

30%

Marital Status

Married

Unmarried


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3. Educational Qualification?

TABLE


1 Under graduate 50 25%

2 Graduate 80 40%

3 Post graduate 70 35%

Total 200 100%


GRAPH

Interpretation

From the table and graph above it can be seen that 25% respondent s are under graduate. 40% respondents are Graduate.

35% respondents are Post graduate.

25%

40%

35%

Educational Qualification of Respondents

Under graduate

Graduate

Post graduate


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5. Your Occupation?

TABLE


1 Business 40 20%

2 Profession 108 54%

3 Service 52 26%

Total 200 100%


GRAPH

Interpretation

From the table and graph above it can be seen that

20% respondent s Occupation is Business. 26% respondents Occupation is Profession.

54% respondents Occupation is Service

20%

54%

26%

Occupation

Business

Profession

Service


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6. Your annual household income?

TABLE


1 Less than 2 lacs 98 49%

2 Between 2 to 5 lacs 62 31%

3 Between 5to 8lacs 30 15%

4 More than 8 lacs 10 5%

Total 200 100%


GRAPH

Interpretation


49% respondent s annual household income is less than 2 lacs. 31% respondents annual household income is between 2 to 5 lacs. 15% respon dents annual household income is between 5 to 8 lacs.

5% respondents annual household income is more than 8 lacs .

49%

31%

15%5%

Annual Household Income

Less than 2 lacs

Between 2 to 5 lacs

Between 5to 8lacs

More than 8 lacs


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7. Are you a member of a club/gymkhana?

TABLE


1 Yes 84 42%

2 No 116 58%

Total 200 100%


GRAPH

Interpretation


42% respondents are member of a club/gymkhana.

58% respondents are not member of a club/gymkhana.

42%

58%

Mebership of Club/Gymkhana

YesNo


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8. What is your perception about insurance sector?

TABLE


1 Hard and lucrative 60 30%

2 Hard but not rewarding 18 9%

3 Smooth and rewarding 82 41%

4 No idea 40 20%

Total 200 100%


GRAPH

Interpretation


30% respondent s perception about insurance sector is Hard & lucrative. 9% respondents perception about insurance sector is hard but not rewarding. 41% respondent s perception about insurance sector is Smooth & rewarding.

20% respondent s perception about insurance sector that they have no idea.

30%

9%

41%

20%

Perception About Insurance

1 Hard and lucrative

2 Hard but not rewarding

3 Smooth and rewarding

4 No idea


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9. Do you know about AEGON Religare Life Insurance ?

TABLE


1 Yes 164 82%

2 No 36 18%

Total 200 100%


Interpretation


85% respondents are known about Aegon Religare Life Insurance.

15% respondents are not known about Aegon Religare Life Insurance.

10. Do you have any Insurance Policy?

TABLE


1 Yes 160 80%

2 No 40 20%

Total 200 100%



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GRAPH

Interpretation


80% respondents have insurance policy.

20% respondents do not have insurance policy.

11. Name of Insurance Company?

TABLE


1 LICI 104 65%

2 ICICI 16 10%

3 AEGON RELIGARE

LIFE INSURANCE

8 5%

4 OTHERS 32 20%

Total 160 100%


80%

20%

No. of Insured

Yes

No


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GRAPH

Interpretation


65% respondents are insured by LICI. 10% respondents are insured by ICICI. 20% respondents insured by AEGON RELIGARE LIFE INSURANCE.

5 % respondents insured by OTHERS.

12. Do you hold any license of any insurance company?

TABLE


1 Yes 70 35%

2 No 130 65%

Total 200 100%


65%10%

5%

20%

No. of Respondents

LICI

ICICI

HDFC SLIC

OTHERS


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GRAPH

Interpretation


35% respondents are holding license of any insurance company. 65% respondents are not holding license of any insurance company.

13. Are you satisfied with the company?

TABLE


1 Yes 42 60%

2 No 28 40%

Total 70 100%

Base 70 respondents

35%

65%

License Holder of Insurance Co.

Yes

No


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GRAPH

Interpretation


60% respondents are satisfied with their insurance company. 40% respondents are not satisfied with their insurance company.

14. Do you know about Aegon Religare Life Insurance recruitment policies related to

financial consultant?

TABLE


1 Yes 82 41%

2 No 118 59%

Total 200 100%


60%

40%

Satisfied License Holder

Yes

No


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15. Will you be interested to become Financial Consultant?

TABLESr. No. Category No. of Respondents Percentage

1 Yes 60 30%

2 No 140 70%

Total 200 100%


GRAPH

Interpretation


30% respondents are interested to become financial consultant. 70% respondents are not interested to become financial consultant.

30%

70%

Interested to Become Financial Consultant

Yes

No


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16. Would you like to earn an additional income through a business opportunity with

AEGON RELIGARE LIFE INSURANCE?

TABLE


1 Yes 54 90%

2 No 6 10%

Total 60 100%

Base 60 respondents

GRAPH

Interpretation


90% respondents are interested to earn additional income. 10% respondents are not interested to earn additional income

90%

10%

Willing To Earn Additional Income

Yes

No


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CHAPTER 6: CONCLUSIONS & SUGGESTIONS

6.1 CONCLUSIONS:

AEGON RELIGARE LIFE INSURANCE, the insurance arm of AEGON RELIGARE LIFE

INSURANCE is expected to go on stream. Promoted by AEGON RELIGARE LIFE

INSURANCE & , already has good number of employees on board and is recruiting Financial

Consultants heavily to take the headcount to many more. It is on the brim of increasing its client

through its attractive schemes and offer.

The project opportunities provided was market segmentation and identifying prospective clients

in potential geographical location and for recruiting them as financial consultant so to explore

new Business Opportunity. Through this project, it could be concluded that people are not much

aware about the various benefit of being Financial Consultant that are currently prevailing in the

insurance industry.

Insurance was considered as unsought good which require hard core selling, but in changing

trend in income and people becoming financially literate, the demand for insurance is increasing

day by day. So, it is the company that first approaches gets its share of reward. Proper after saleservice can help the advisors to generate more business. Gradually people are realizing the fact

that insurance is not a necessary evil but means to attain worry free life.

This activity much attracts unemployed people as for them a source of income is a great help for

developing their future. Company s promotional activities for recruiting Financial Consultant are

also very less.

So, at last the conclusion is that there is tough competition ahead for the company from its major

competitors in terms of number of Financial Consultants.

Last but not the least I would like to thank AEGON RELIGARE LIFE INSURANCE for giving

me an opportunity to work in the field of Financial Consultant. I hope the company finds my

analysis relevant.


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6.2 SUGGESTIONS:

Finally some recommendations for the company are as follows:-

To make people aware about the benefit of becoming AEGON RELIGARE LIFE

INSURANCE Financial Consultant, following activities of advertisement should be done

through

1. Print Media.

2. Hoarding & Banners.

3. Stalls in Trade Fares

4. Distribution of leaflets containing details information.

5. Company can recruit sales promoters so that maximum information can be provided to the potential client.

By showing additional and alternative income source along with various schemes for

Financial Consultant in the company so that more and more FC can be recruited.

Free life cover for every active Financial Consultant. Discounted rate premium for its family members. Make people understand about the meaning of the IRDA authorization and its validity. Company should organize the program in the society, so that people will be aware about

the company.

Separate time slot for Working Professionals, House Wives and Retired people. Agency of non-life products should also be provided along with life. Company should open more branches in different cities


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CHAPTER 7: LIMITATIONS

Every work has its own limitation. Limitations are extent to which the process should not

exceed. Limitations of this project are:-

The project was constrained by time limit of two months. Mindset of people may vary depending upon their age, gender, income etc. Getting appointment from the concern person was very difficult. People mind set about the survey was an obstacle in acquiring complete information

& positive interaction. Respondents were very busy in their schedule. So it was very time taken in every

Questionnaire response by them.


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QUESTIONNAIRE

.

1. Your Age: ____________________

2. Education Qualification.

Undergraduate

Graduate

Post graduate

3. Marital Status.

Married

Single No. of Children: __________

4. Number Of years in New Delhi

Less than five years

More than five years

5. Occupation.

Business

Profession

Service (Please mention below the type of business/profession you are in incase of service please

mention your organization name and designation)


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6. Your annual household income.

than 8 lack

7. Are you a member of a club/gymkhana?

Yes

No

If yes, Name of the club /gymkhana_______________________________________

8. What is your perception about insurance sector?

Hard &lucrative Hard but not rewarding

Smooth &rewarding

No idea

9. Do you know about AEGON RELIGARE LIFE INSURANCESLIC?

Yes

No


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10. Do you have any insurance policy?

Yes

No 11. Name insurance company?

LIC ICICI AEGON RELIGARE LIFE INSURANCES OTHERS \

If others, please specify___________________________________________________

12. Do you hold any license of any insurance company?

Yes

No If yes, please specify which company________________________________________

Reason______________________________________________________________

13. Are you satisfied with the company?

Yes

No Reason specify_________________________________________________________

14. Do you know about AEGON RELIGARE LIFE INSURANCE SLICs recruitment policies

related to financial consultant?

Yes

No


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15. Will you be interested to become financial consultant?

Yes

No

16. Would you like to earn an additional income through a business opportunity with AEGON

RELIGARE LIFE INSURANCESTANDARD LIFE ?

YES

NO

17. If yes, how many hours in a week can you commit for this business opportunity?

______________________________________________________________________

Date:

Place: Signature


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BIBLIOGRAPHY

1.BOOKS AUTHORS Marketing Management (10 t Edition) Philip Kotler Marketing Management (3 r Edition) V.S. Ramaswamy Research Methodology (2 n Edition) Research Methodology

C.R.Kothari

S.P. Kasande

2. NEWS PAPERS Times of India Financial Express

3. WEBSITES

www.aegonreligare.com www.irda.com www.google.com

project report arli - yogesh

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