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Summer Internship ProjectSebin Sebastian | Omega Insurance Brokers LLC, Dubai-U.A.E

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Task Oriented ProjectWork with the finance department

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Insurance Industry U.A.E

Huge market 50+ insurance companies

Many competitors

Tight competition

Industry keeps on growing

100+ Insurance brokering companies

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OMEGA INSURANCE BROKERS LLC

Established in 2003

Founder Mr.S.C.Mittal

3000+ satisfied customers

100+ employees

8 million sale turnover

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Omega Insurance

General

Motor Marine PropertyEmployeeInsurance

Engineering

Life

Medical Travel

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ManagDirect

VicePresident

Assistant

Gen Dept

CRM/Claims

Gen.Accidents

Renewal WC/GLPA

Marine

Assistant

Assistant

Medical

Supervisor

Group

Claims

CRM Individual

Motor

CRM Quotation

HR

Organization Chart

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ManagingDirector

Vice

President HR

Controller

DBMS

Scanner

Logistics

Messenger

HR

HR Asst.

PRO

I.T. Asst.

Finance

Organization Chart

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ManagingDirector

VicePresident

Finance

Chief

Accountant

Receipts Payments Collection

HR Life

Organization Chart

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ManagingDirector

VicePresident

HR Finance Life Adm

Asst.Admin As

LifeManage

Advisors

Organization Chart

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Strength

Experienced and Vibrant management

Established brand identity

Strong client base

Loyal staff

Weakness

Lack of a research and strategic plann

Poor public perception of agencies clacapabilities

High expenditure profile

Low market share

Opportunities Identification of new distribution channels

Insurance and risk is an enormous sector,.

Threats Ease of new competitor entry

Loss of clients due to competition

Lag in payment from insurance compa

SWOT

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Calculation of Sales Person Commission

Salaried Sales Staff employed by the firm

Monthly salary + commission

Non-Salaried Sales Staff

Pay commission for business conducted

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Payments to Insurance Company

Pay to the insurance company on behalf of the insured Only Net premium need to be paid

PremiumSales personcommission

CompanysCommission

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Bank Reconciliation

Comparison of the companys statement and bank statement Done once in two days.

Done compulsorily on Thursday

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What the company expect

Up to date work On time reports and feedback

What I have gained

Learned new accounting software

Gained practical knowledge

Work life experience

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THANK YOUYour Protection Our Concern