A PROJECT REPORT ON Evolution of Insurance Sector in India 45 DAY SUMMER TRAINING PROJECT WITH

Emkay Global Finance Services ltd. Submitted in the partial fulfillment for the Award of degree of Master of Business Administration

2013-2014

Submitted To:Mrs.Urmila Choudhary Faculty of st.wilfred college for girls

Submitted By:Rashmi Sharma BBA III year

St.Wilfreds College For Girls,Mansrover ,Jaipur

Sector-5,Near Technology park,vashistha marg,shipra path, Mansrover,Jaipur(Raj.)

-1-

Preface
Classroom teaching helps the student by making conceptual base clear, but on the job training is a way, which helps the students to get the applied knowledge of the concept. Normally the students are not aware of the actual requirement of practical field, keeping in view this fact; a system of summer training has been established to make the students acquainted of actual difficulties that are to be faced in the demanding corporate sector. Summer training at Emkay Global Finance ltd. has given me a great experience. I was required to prepare a training report on the topic Evolution of Insurance sector in india. The managers of Marketing department helped me a lot to prepare this report.

-2-

ACKNOWLEDGEMENT
I express my sincere thanks to my project guide Mr. Jitendra Rathore Faculty of DMS, PGC for guiding me right from the inception till the successful completion of the project. I sincerely acknowledge him for extending their valuable guidance, support for literature, critical reviews of project and the report and above all the moral support he had provided to me with all stages for this project. I would also like to thank the supporting staff of Marketing Department, Emkay Global Finance ltd., for their help and cooperation throughout my project.

Rashmi Sharma

-3-

EXECUTIVE SUMMARY
Summer training provides an opportunity to the student of professional studies, particularly so far in management studies, to acquire practical skills and hand on experience by actually being a part of the organization and their processes. One really gets opportunity to learn the culture and dynamics of them and enhances the knowledge of the trainee. Working in the organizational environment is the first step of the trainee in the practical world. From the very first day I started relating to the work which was assigned to me with the theoretical studies. All the basic fundamental concepts are linked in one way or the other ways to the organization. The well planned properly executed and evaluated vocational training helps a lot, including good work culture. It actually builds a bridge between theoretical knowledge and practical application. Hence to learn the work from basics I undertook 45 days training in Emkay

Global

Finance Services LTD.

Also I like to mention the candidates with whose details my report and training was bagged by datas and made the analysis part look good.

-4-

Table of Contents

S.No. 1 2 3 4 5 6 7 8 9

Particulars
INDUSTRY PROFILE COMPANY PROFILE OBJECTIVES AND SCOPE OF STUDY RESEARCH METHODOLOGY DATA ANALYSIS CONCLUSION SUGGESTION AND RECOMMENDATION LIMITATION OF THE STUDY BIBLIOGRAPHY

Page No. 1 22 27 29 31 70 71 72 73

-5-

INDUSTRY PROFILE
The Indian economy continued to exhibit robust growth even though global economy experienced many uncertainties. The real GDP growth emanating from the industry and services sector declined slightly during 2007-08. However, improvement in the performance of the agriculture sector in India not only contained inflationary pressures on some agricultural commodities but also supported the growth momentum in the economy. The continued acceleration in saving and investment rates and sustained productive growth were the underpinnings of the growth momentum in the Indian economy during 2007- 08. The real GDP growth in 2007-08 though high at 9% was lower than the 9.6% recorded in 2006-07. Services sector continued to grow at double digit level. The deceleration in the industry sector was also reflected in the Index of Industrial Production. The growth in the Index of Industrial Production during 2007-08 was 8.5% (as against 11.5% observed in 2006-07). Gross domestic savings as% of GDP at current market prices increased from 34.3% in 2005-06 to 34.8% in 2006-07 contributed mainly by increase in the savings of private corporate sector and the public sector. The gross domestic capital formation rate at the economy level increased from 35.5% in 200506 to 35.9% in 2006-07. The saving preference of the households had slightly shifted away from the bank deposits in 2007-08 from that of 2006-07. According to the preliminary estimates released by RBI on household financial savings for 2007-08, insurance funds constituted 17.5% of the total gross financial savings of the households in 2007-08. This has resulted in an increase in the share of insurance funds in the total household savings. A similar increase was observed in mutual funds also. The above shift in the preferences towards insurance sector was mainly on account of the households preferring to invest in Unit Linked Insurance Products (ULIPs) of life insurers in the back ground of bullish stock market as the returns of a part of ULIPs depend on the behaviour of the stock market. A similar observation can be made about the investments in mutual funds. It may be noted that during 2007-08, the BSE sensex has shown abnormally high levels and the gains were across all sectors of the index. The fiscal position of both central and states improved during 2007-08 even though there were higher outflows on account of high interest payments, subsidies and extra budgetary liabilities. Exports and imports accelerated during 2007-08 reflecting Indias -6-

diversified foreign trade. Capital inflows on a sustained basis were observed in 2007-08 and net surplus on invisibles in the Balance of Payments was buoyant offsetting a significant part of the merchandise deficit. The current account deficit as a% of GDP was 1.5% in 2007-08 higher than 1.1% observed in 2006-07. Supply side pressures on key agricultural products, pass through of international crude oil prices, continued demand pressures have pushed the inflation rate as measured by movements in wholesale price index to a higher level of 7.7% at end March 2008 as against 5.6% recorded at end March 2007. However, on an average basis, it was lower at 4.7% during 2007-08 than 5.4% in 2006-07. The growth in consumer price index for industrial workers was also high at 7.9% in March 2008 as against 6.7% a year ago. On an average basis, during 2007-08, it was 6.2% as against 6.7% in 2006-07. During 2007-08 many policies regarding broadening and deepening of the financial markets, capital markets and bond markets were undertaken by the respective regulators. The Government on its part has helped in this process by allowing changes in the legal framework. The policies undertaken in the financial markets will help the insurance companies in managing their assets in a prudent and profitable way. Insurance companies are now allowed to access the negotiated dealing system order matching using the constituents subsidiary general ledger route. This will help the insurance companies in participating in the negotiated dealing system for parking their excess funds. The SEBI has undertaken many initiatives in making the operations of mutual funds more transparent and investor friendly. The SEBI mandates FIIs to provide AAA rated foreign government securities as collaterals for margins against transactions in the derivatives segment. Several measures were also initiated to develop the private corporate debt market. The Union Budget 2007-08 has announced measures to develop bond, currency and derivatives market including launching of exchange traded currency and interest rate features and developing a transparent credit derivatives market with appropriate safeguards. Government Securities Regulations 2007 has come into force with effect from December 1, 2007. All the above measures undertaken by the various regulators will open opportunities for the insurance companies to park their funds in a profitable way. However, they may have to improve their skills in dealing with such complex exotic financial instruments. The CSO has placed the real GDP growth originating in Agriculture, Industry and services during the first quarter of 2008-09 at 3.0%, 5.2 percent and 10.2 percent respectively. Accordingly, the real GDP growth in the economy worked out 7.9% for the first -7-

quarter as against 9.2% recorded in the first quarter of the previous year. Inflation, measured by variations in the wholesale price index (WPI) on a year-on-year basis, increased to 11.4% as on October 4, 2008 from 7.8% as at end-March 2008 and 3.2% a year ago. At a disaggregated level, prices of primary articles and manufactured products rose by 12.7 per cent and 9.7%, respectively, as compared with 5.0% and 4.5% a year ago. Inflation, based on the consumer price index (CPI) for industrial workers, showed a sharp increase to 9.0% on a year-on-year basis in August 2008 from 7.3% a year ago. The interest rates (both deposit and lending rates) rose significantly during the first two quarters of 2008-09. Deposit rates offered by the banks for various maturities increased by 50175 basis points and the benchmark prime lending rates of Public Sector Banks increased by 125-150 basis points during the same period. The weighted average yields of Central Government securities were higher at 8.81% as compared with 8.12%. The yields on Government securities with one-year residual maturity increased from 7.49% at end-March 2008 to a high of 9.25%. The overnight rates in the call market, market repo (outside the LAF) and collateralised borrowing and lending obligation (CBLO) hardened across the spectrum on account of tighter liquidity consequent upon gradual increases in the CRR during April-August 2008. The weighted average discount rate of Certificates of Deposit increased from 10.00% at the end of March 2008 to 11.56% by end-September 2008. The outlook for the emerging economies remains positive, but uncertainties about their resilience to the global shocks have increased. Industrial production and export volumes have slowed down. While equity markets have fallen sharply in tandem with those in advanced economies, bond spreads have widened. The international financial system is gripped by extreme risk aversion in the wake of spectacular failures of among the worlds largest financial institutions. With buoyancy in stock markets, while investors are willing to take risks and prepared to bear investment risks by opting for ULIPs, with the financial crises across the globe and melt down in the stock markets, the sentiments of the investors may turn the other way and many would like to invest their surpluses in safe and traditional financial instruments rather than take risks. As such, the preference will be shifted away from ULIPs and life insurers may have to design traditional products with good incentives. As such, the growth in life insurance business in near future may not be as robust as it was so far. Further, as insurance companies are closely monitored by their solvency margins, they have to inject additional capital to maintain the regulatory requirement. Under the present position in the financial markets, it is -8-

difficult to raise funds from the capital markets and promoters may find it difficult even to divest their own investments in a bearish stock market. In the recent past, insurance companies have gone aggressively on branch expansion and added technical manpower. The associated costs due to those are high and companies may find it difficult to sustain with high costs and low premiums. With slow down in the economic growth, the personal disposable incomes will be lower thus affecting the savings and investment. The slowdown in the industry and lower investments in the private corporate sector leads to lower asset formation. This together with lower merchandise trade affects the non-life insurance market. With slump in the stock markets, the investment income for the non-life insurance companies would also come down thus affecting the profits, because the investment income has been offsetting the underwriting lossless of the insurers so far. Performance in the first quarter of 2008-09 (i) Life insurance: The life insurers underwrote a premium of Rs.14320.20crore during the first quarter in the current financial year as against Rs.12511.80crore in the comparable period of last year recording a growth of 14.45%. Of the total premium underwritten, LIC accounted for Rs.7524.56crore and the private insurers accounted for Rs. 6795.64crore. The premium underwritten by LIC declined by 12.31% while, that of private insurers increased by 72.88%, over the corresponding period in the previous year. The number of policies written at the industry level declined by 7.78% While the number of policies written by LIC declined by 23.36%, in the case of private insurers they grew by 44.00%. Of the total premium underwritten, individual business accounted for Rs.10995.90crore and group business for Rs.3324.30crore. In respect of LIC, individual business was Rs.5275.71crore and group business was Rs.2248.85crore. In the case of private insurers, they were Rs.5720.19crore and Rs.1075.45crore respectively. The market share of LIC was 52.55% in the total premium collection and 63.88 per cent in number of polices underwritten, lower than 68.58 per cent and 76.87% respectively reported in the previous year. Under the group scheme 56.13lakh lives were covered recording a growth of 8.51% over the previous period. Of the total lives covered under the group scheme, LIC accounted for 38.96lakh and private insurers 12.77lakh. The life insurers covered 12.50lakh lives in the social sector with a premium of Rs.17.10crore and underwrote 13.53lakh policies with a premium of Rs.1275.78crore in the rural sector. -9-

(ii) Non-Life Insurers During the first quarter of current financial year, the non-life insurers underwrote a premium of Rs.8778.18crore recording a growth of 17.85% over Rs.7448.74crore underwritten in the same period of last year. The private non-life insures witnessed higher growth of 22.43% by underwriting premium to the tune of Rs.3541.78crore as against Rs.2892.89crore underwritten in the same quarter of the last year. The public non-life insurers underwrote a premium of Rs.5236.40crore, higher by 14.94% in the first quarter of 2007-08. The market shares of public and private insurers were 59.65 and 40.35% respectively. ECGC underwrote credit insurance of Rs.164.70crore as against Rs.88.09crore in the previous year resulting in a significant growth of 86.98%. Segment-wise, the premium underwritten in the Fire, Marine, Motor, Health and Miscellaneous segments by the non-life insurers were Rs.1208.15crore, Rs.572.99crore, and Rs.3624.23crore, Rs.1772.57crore and Rs.1600.24crore respectively. The Health segment recorded the highest growth (49.67 per cent) in the first quarter of the current financial year over the corresponding quarter of 2007-08. The Fire segment witnessed negative growth (-13.80%) over in the same period. In terms of number of policies, Fire and Marine, recorded negative growth rates (-5.14% and -4.37% respectively) over the one year period. In the Motor segment, the public insurers witnessed positive growth rate (23.09 per cent) in the premium underwritten despite issuing lesser number of policies. The premium underwritten in the Motor segment in the first quarter of the current financial year was Rs.3624.23, constituting 41.29% in the total premium underwritten. The contribution from the Public and Private Life insurers in the total Motor premium was Rs.2151.19crore (59.36%) and Rs.1473.04crore (40.64%) respectively. The premium collection in the Health segment went up to Rs.1772.57 in the first quarter of the current year, constituting for 20.19% in the total premium. The number of policies, issued in this quarter, as a ratio of total number of policies worked out to 12.20%. The shares of public and private non-life insurers in the Health segment remained similar to the Motor segment,which constituted 58.72% (Public) and 41.28% (Private) respectively in the first quarter of the current financial year. In terms of number of policies issued Health segment recorded a growth of 12.95%. This growth was sharper in the public insurers with 20%.

- 10 -

INDIAN COMPANIES WITH FOREIGN PARTNERSHIP Indian Partner

Alpic Finance Tata CK Birla Group ICICI Sundaram Finance Hindustan Times Ranbaxy HDFC Bombay Dyeing DCM Shriram Dabur Group Kotak Mahindra Godrej Sanmar Group Cholamandalam SK Modi 20th Century Finance M A Chidambaram Vysya Bank

International Partner
Allianz Holding, Germany American Int. Group, US Zurich Insurance, Switzerland Prudential, UK Winterthur Insurance, Switzerland Commercial Union, UK Cigna, US Standard Life, UK General Accident, UK Royal Sun Alliance, UK Allstate, US Chubb, US J Rothschild, UK Gio, Australia Guardian Royal Exchange, UK Group Legal & General, Australia Canada Life Met Life ING

Source: U.S. Department of State FY 2001 Country Commercial Guide: India

REGISTERED INSURERS IN INDIA

By the end of March 2009, there were eighteen life insurance companies operating in India. Subsequently, Aegon Religare life insurance company limited and canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd., DLF Pramerica life insurance company limited were given Certificate of Registration by the Authority. With these two new companies the total number of life insurance companies operating in India rose to 21.

- 11 -

Type of business Life Insurance General Insurance Re-insurance Total

Public Sector 1 6* 1 8

Private Sector 20 14** 0 34

Total 21 20 01 42

* Includes specialized insurance companies - ECGC and AIC ** Includes two Standalone Health Insurance Companies Star Health & Allied Insurance Co. and Apollo DKV Health Insurance Co.

DISTRIBUTION OF OFFICES * OF LIFE INSURERS AS ON MARCH 31, 2009

Significantly, the number of offices of private life insurers in semi-urban and smaller locations put together increased the highest, by over 140%, from 1908 to 4592 in 2008-09. Insurer Private Total LIC Industry Total Metro 628 311 939 Urban 1169 468 1637 Semi-urban 2692 848 3540 Others 1902 895 2797 Total 6391 2522 8913

Note : 1) Data collected from life insurers through a special return. 2) Based on the HRA classification of places done by the Ministry of Finance. Metro : Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore. Urban : A, B-1 and B-2 class cities of the HRA classification. Semi-urban : C class cities of the HRA classification. Others : Places not list in the HRA classification. 6.1. TRENDS IN LIFE INSURANCE BUSINESSUNIT LINKED INSURANCE PLANS It wasnt too long back when the good old endowment plan was the preferred way to insure oneself against an eventuality and to set aside some savings to meet ones financial objectives . The traditional endowment policies were investing funds mainly in fixed interest Government securities and other safe investments to ensure the safety of capital. Thus the traditional emphasis was always on security of capital rather than yield. However, with the inflationary trend witnessed all over the world, it was observed that savings through life insurance were becoming unattractive and not meeting the aspirations of the policyholders. - 12 -

The policyholder found that the sum assured guaranteed on maturity had really depreciated in real value because of the depreciation in the value of money. The investor was no longer content with the so called security of capital provided under a policy of life insurance and started showing a preference for higher rate of return on his investments as also for capital appreciation. It was, therefore found necessary for the insurance companies to think of a method whereby the expectation of the policyholders could be satisfied. The object was to provide a hedge against the inflation through a contract of insurance. Decline of assured return endowment plans and opening of the insurance sector saw the advent of ULIPs on the domestic insurance horizon. Today, the Indian life insurance market is riding high on the unit linked insurance plans.

ULIPs and its Features

Unit linked insurance plans (ULIPs) are insurance plans that combine the benefit of investment with insurance. They give the investor an option to put a part of their premium in various investment portfolios and derive the benefits depending upon the performance of the funds chosen by them. ULIPs were launched at an opportune time when stock markets had just taken off. Being market- linked, they were major beneficiaries of the secular rise in stock markets. ULIPs have gained high acceptance due to the attractive features they offer. These include: 1. Flexibility 1.1. Flexibility to choose Sum Assured. 1.2. Flexibility to choose premium amount. 1.3 Option to change level of Premium even after the plan has started (Top up facility). 1.4. Flexibility to change asset allocation by switching between funds.

2. Transparency
2.1. Changes in the plan & net amount invested are known to the customer. 2.2. Convenience of tracking ones investment performance on a daily basis. 3. Liquidity 3.1. Option to withdraw money after few years (comfort required in case of exigency). 3.2. Low minimum tenure. 3.3. Partial / Systematic withdrawal allowed

4. Fund Options
4.1. A choice of funds (ranging from equity, debt, cash or a combination). 4.2. Option to choose fund mix based on desired asset allocation. - 13 -

Traditionally, endowment plans have invested in government securities, corporate bonds and the money market. ULIPs however, have a broader choice. They invest across the board in stocks, government securities, corporate bonds and money market instruments. Of course, within a ULIP there are options wherein equity investments are capped. The common types of funds available in ULIPs are Bond Fund, Protector Fund, Secure Fund, Balanced Fund, Growth Fund, Index Fund, and Enhancer Fund. Depending on ones risk appetite one can choose the fund. However the investment risk is borne by the investor. The common type of charges, fees and deductions in ULIPs are Premium allocation charges, Mortality charges, Fund management charges, Policy/administration charges, Surrender charges, Fund switching charges and Service tax. Insurance companies are required to declare the NAV of various ULIPs on a daily basis. The movement of NAV enables the policy holder to assess the performance of his investment and accordingly make intervention in the form of switches, withdrawal and top-ups. After opening up of the insurance sector, Unit-linked insurance policies (ULIPs) have become increasingly popular. Analysis of figures for the last three years indicates the growth pattern of unit linked business.

TRENDS IN LIFE INSURANCE BUSINESSUNIT LINKED INSURANCE PLANS

Unit Linked Business (%) 2007-08 2008-09 2009-10

Non-linked Business (%) 2010-11 2011-12

Private 82.30 LIC 29.76 Industry 41.77

88.75 46.31 56.91

90.33 62.31 70.30

17.70 70.24 58.23

11.25 53.69 43.09

9.67 37.69 29.70

- 14 -

7. LIST OF TOP 10 INSURANCE COMPANIES IN INDIA:

1. The Life Insurance Corporation (LIC) of India
founded in 1956 is the largest life insurance company in India owned solely by the Government of India. Headquartered in Mumbai, which is considered the financial capital of India, LIC presently has 7 Zonal Offices and 100 Divisional Offices situated all around the country. In addition to an even distribution of 2048 branches located in different towns and cities of India, LIC also has a network of around one million agents who solicit life insurance policies to the public.

History of LIC of India

The first 150 years of the British Rule in India were characterized by turbulent economic conditions. The first war of independence in 1857, the World Wars 1 and 2 (1914-1918 and 1939-45) and India's national struggle for freedom in between had adverse effect on the economy. In addition to this the period of world wide economic crisis in between the two World Wars termed as the period of Great Depression led to the high rate of bankruptcies and liquidation of most Life Insurance Companies in India that existed during that time. These occurrences led to loss of faith in insurance of the people of India. 2.

Tata AIG Insurance Solutions

It is one of the leading insurance companies that provide both life insurance as well as general insurance. This pioneer company is a joint collaboration between the American International Group, Inc. (AIG) and Tata Group. They own the company in the ratio of 26:74. It is a leading financial institution that has carved a niche for itself all over the world.

Tata AIG Insurance provides facilities to both corporates and individuals. Starting its operations on April 1, 2001, it seeks to serve different categories of people. It acquired its license for carrying out operations in India on February 12, 2001. Tata AIG Insurance Solutions is one of the most prestigious organizations in the business world. It employs thousands of employees and offers various opportunities to people to build a prospective career. As a leading name in the financial world, it identifies the potential and experience of the individual. This insurance company identifies the clients needs and works - 15 -

accordingly. It stresses on innovative aspect and opening of new markets. It believes in new economy and latest Internet technology. Tata AIG Insurance offers a number of products for the General Insurance holders. General insurance products include: Individual insurance Small business insurance Tata AIG Insurance offers flexible life insurance to the individuals, business organization and other association. For the corporates, there are various insurance products like group pensions, employee benefits, work place solutions and credit life. For the individuals, Tata AIG Insurance offers various products for adults, children and for retirement planning.

3. Aviva Life Insurance India

It is a private insurance company formed from a collaboration between the Aviva insurance group of UK and the Dabur group, one of India's oldest and top producer of traditional health care products . Aviva's products are meant to provide customers flexibility, transparency and value for money. History Aviva insurance group in UK with a history dating back to 1696, today stands as one of the leading provider of life and pension products to Europe and other parts of the world. The history of Aviva Life Insurance India starts at 1834 during nationalization when Aviva was the largest foreign insurance group in terms of the compensation paid by the Indian Government. In 1995 Aviva was the first foreign insurance company to start its representative office in India. At present in Aviva Life Insurance India, the Aviva group is a 26% share holder and the Dabur group holds 74% shares in the joint venture. The products of Aviva insurance group of India are:

LifeLong LifeSaver or EasyLife Plus Young Achiever LifeBond and LifeBond Plus - 16 -

PensionPlus LifeShield Freedom LifePlan LifeBond5

The fund management operations of Aviva Life Insurance India is controlled from Mumbai and the fund options includes Unitized With-Profits Fund and four Unit Linked funds:

Protector Fund - The fund comprises of debt securities in the range of 60-100%, equities

in the range of 0-20% and money market and cash in the range of 0-20%.

Secure Fund - The fund comprises of debt securities in the range of 50-100%, equities in

the range of 0-20% and money market and cash in the range of 0-20%.

Balanced Fund - The fund comprises of debt securities in the range of 50-90%, equities

in the range of 0-45% and money market and cash in the range of 0-10%.

Growth Fund - The fund will comprise of debt securities in the range of 0-50%, equities

in the range of 0-85% and money market and cash in the range of 0-20%. These fund provides investment security to the capital of the customers.

Through their association with Basix (a micro financial institution) and other NGOs, Aviva Life Insurance India have been able to reach out to those underprivileged who had no access to insurances till day.

In Aviva Life Insurance India, thus , by combining protection and long term savings the customers can safeguard and provide life products for their family with their changing needs.

4.Metlife India Insurance Company Limited:

MetLife India Insurance Company Limited (MetLife) is an associate of MetLife, Inc. and was established as a joint venture between MetLife International Holdings, Inc., the Jammu and Kashmir Bank, M. Pallonji and Co. Private Limited and other private investors. MetLife is one of the quickest growing life insurance companies in India. It attends its customers by extending a range of modern products to different individuals and group customers, with services spread across more than 600 locations via the banking partners and company-owned offices. Currently, MetLife has in its kitty over 50,000 Financial Advisors- who help the customers get the right product across the length and breadth of the country. MetLife, Inc., through its associates, - 17 -

extends its services to more than 70 million customers in the Americas, Asia Pacific and Europe.

Services offered by the MetLife companies:

Life insurance Annuities Automobile and home insurance Retail banking Other financial services to individuals Group insurance Reinsurance Retirement and savings products and services

5. ING Vysya Life Insurance

ING Vysya Life Insurance Company Limited is one of the leading private insurance providers in India. A joint venture between ING Insurance International B.V. (INGI) - the second largest insurance company in the world, Vysya Bank Limited - one of the largest private sector banks in India, and GMR Industries, ING Vysya Life Insurance Company Ltd, based in Bangalore, was established in the year 2001. The company also has some other joint venture partners in the form of Exide Industries Ltd, Enam Group and Ambuja Cement Ltd. ING Vysya Life Insurance offers a host of life insurance products and services to its customers, which include individual life insurance plans and products, group products, financial tools and calculators etc. The company has over 140 branches across the nation that serves more than 4.5 lakh customers. ING Vysya Life Insurance has over 3,000 employees and more than 21,000 sales insurance agents. Offerings: ING Vysya Life Insurance Company Limited offers a range of products to its customers, which can be listed as below: Individual Products - 18 -

ING Vysya Life Insurance offers a range of products that cater to the financial needs of individuals of every age.

Protection Plans Savings Plans Retirement Plans Investment Plans Riders

Group Products ING Vysya Life Insurance offers comprehensive and cost-effective products to its customers: ING Smart Shield

Group Gratuity Employee Deposit Linked Insurance Group Term Life Insurance Plan Single Premium Level Term Plan

Planning Tools ING VYASA Life Insurance offers a range of tools to help you chalk out your financial plans properly.

Child Calculator: It helps you calculate and plan the future of your child. Minimum Insurance Needs: It helps you calculate the minimum insurance cover that you must have in order to protect the financial future of your family. Savings Needs: This savings calculator estimates the expenditure on your goals and aspirations.

Retirement Needs: It helps you make plan for a steady income for your future. Investment Needs: It figures out the investment options for you. - 19 -

The Financial Horoscope: It makes a comprehensive plan for your future taking into consideration all your savings, investment, and retirement needs.

Easy Plan Finder: It helps you find the plan that suits you best.

6. Birla Sun Life Insurance Company

Birla Sun Life Insurance Company also known as BSLI is one of the renowned names in the field of insurance in India. This insurance company is a result of a joint venture between Aditya Birla Group, a multinational company in India and Sun Life Financial Inc, a leading global name in the field of insurance. Birla Sun Life Insurance has to its credit of being the first company in the field of financial solution to start the Business Continuity Plan. The vision of the group is to create long term value together with marketleadership

The primary aim of the company is to help customers ease risks of life, accident, health and money at every stage and under any circumstance. The company works towards making the financial future and enterprises of the customers better than what they currently are. All the works undertaken at Birla is done with integrity, full commitment, passion and ample speed.

Salient Features of BSLI Company

Birla Sun Life Insurance initiated the Unit Linked Life Insurance Solutions in India. In 4 years, BSLI has made its position very strong as a leading player in the private Life Insurance Industry.

The company's focus has been on investment linked insurance products, supported with protection products to uphold leadership in product modernization

Web-enabled IT systems for superior customer services First to have issued policies over the Internet Corporate governance and a high degree of transparency in all business practices and procedures

BSLI Solutions
Birla Sun Life Insurance Company provides individual and other solutions to customers based on their varied needs. So whether the customer wants long term protection or short term

- 20 -

protection plans, the company has it all for their clients. The insurance solutions offered by the company are:

Protection Solution Retirement Solutions Children's Future Solutions Health & Wellness Solutions Wealth with Protection Solutions

Birla Sun Life Insurance Products

Birla Sun Life Insurance Term Plan is ideal for those who are seeking to get insurance benefits at a lower price. The plan covers all liabilities and provides complete security to the clients. The minimum age of a customer seeking this insurance must be 18 years and the maximum age must be 55 years. Premium payment options range from monthly to annual to quarterly to semi annually depending on the policies. Listed below is some of Birla Sun Life Insurance saving policies: 1. Birla Sun Life Insurance PrimeLife 2. Birla Sun Life Insurance Dream Plan 3. Birla Sun Life Insurance Gold-Plus II 4. Birla Sun Life Insurance SimplyLife 5. Birla Sun Life Insurance Flexi Life Line 6. Birla Sun Life Insurance Supreme-Life 7. Birla Sun Life Insurance LifeCompanion 8. Birla Sun Life Insurance Flexi Save Plus 9. Birla Sun Life Insurance Flexi Cash Flow 10. Birla Sun Life Insurance Saral Jeevan Plan 11. Birla Sun Life Insurance PrimeLife Premier 12. Birla Sun Life Insurance ClassicLife Premier 13. Birla Sun Life Insurance Single Premium Bond

- 21 -

7. Max

Life Insurance Company

Max Life Insurance Company is one name in the field of insurance in India that offers a diverse range of products for a wide ranging variety of customers. The company Max New York Life Insurance is a joint business enterprise between India's leading Multi-business Corporation Max India Limited and New York Life, a Fortune 100 Company. The company aims to become the most admired life insurance company in India and has developed a strong corporate governance model based on the central value of excellence, honesty, knowledge, integrity and teamwork. Max Life Insurance puts special emphasis on the selection process of the insurance agent advisors. The selection process comprises of four stages namely: screening, psychometric test, career seminar and the final interview. All the training is provided in-house to ensure control on the quality of the training offered. The company has a multi channel distribution that is spread across all parts of the country. Max offers a suite of products covering the sectors of both life insurance and health insurance sectors.

Max Life Insurance Company in India

Merged in 2000, the company started its commercial operations in India one year later in 2001. Max Life Insurance Company has around 87,688 agent advisors at 712 offices across 389 cities in the country. Besides this, the company also has 36 referral tie-ups with banks, 24 partnership distribution and alliance marketing relationships. The company has put in place a unique model of distribution to deepen our rural penetration and has 137 offices dedicated to rural areas. Currently the company has more than eleven thousand employees in India working in the various insurance divisions.

Max Life Insurance Solutions

Max New York Life Insurance provides individual, group, life and health insurance options to customers in India. Other services like investment plans, retirement plans, insurance plans for children, group credit life plan, health insurance plans, saving plans, rural plans, group gratuity cum term insurance plan, protection plans and deposit linked insurance plans to groups are also on offer.

Max New York Life Plans

- 22 -

The Life insurance plans from Max New York offers protection against any financial disruption that may hamper the smooth flow of life. Families that have double incomes can opt for covers separately. All the individual plans guarantee the maximum protection at economic prices. Some of the life plan schemes consist of Five Yr Renewable and Convertible, Level Term Policy, Whole Life Participating, Life Gain Plus 25 (Par), 20 year Endowment (Par), Life Pay Money Back, Endowment to Age 60 (Par), Life Gain Endowment, Life Gain Plus 20 (Par), Life Partner Plus and Max New York Life Secure Dreams.

Max Life Insurance Child Plans

There are several insurance plans offered by Max Life Insurance for children. The child insurance plans take care of all the educational needs; the idea is to ensure that money never becomes a reason for a child as to why one cannot have the education of their choice. The Max Life Insurance Child Plans consist of Children's Endowment to 18 (Par), SMART Steps Single Premium, SMART Steps, Children's Endowment to 24 (Par) and SMART Steps Plus. Some of the other plans offered by Max Life Insurance consist of: SMART Assure Life Maker Gold LifeLine MediCash LifeLine Safety Net LifeLine Wellness Life Maker Platinum Life Maker Premium LifeLine Wellness Plus LifeLine MediCash Plus Easy Life Retirement (Par) SMART Invest Pension Plus Max New York Life SMART Xpress Max New York Life LifeLine Healthy Family 8. Birla

Sun Life Insurance Company

Birla Sun Life Insurance Company also known as BSLI is one of the renowned names in the field of insurance in India. This insurance company is a result of a joint venture between Aditya Birla Group, a multinational company in India and Sun Life Financial Inc, a leading global name in the field of insurance. Birla Sun Life Insurance has to its credit of being the first company in the field of financial solution to start the Business Continuity Plan. The vision of the group is to create long term value together with market leadership.

The primary aim of the company is to help customers ease risks of life, accident, health and money at every stage and under any circumstance. The company works towards making the financial future and enterprises of the customers better than what they currently are. All the works undertaken at Birla is done with integrity, full commitment, passion and ample speed. - 23 -

BSLI Solutions
Birla Sun Life Insurance Company provides individual and other solutions to customers based on their varied needs. So whether the customer wants long term protection or short term protection plans, the company has it all for their clients. The insurance solutions offered by the company are:

Protection Solution Retirement Solutions Children's Future Solutions Health & Wellness Solutions Wealth with Protection Solutions

Birla Sun Life Insurance Products

Birla Sun Life Insurance Term Plan is ideal for those who are seeking to get insurance benefits at a lower price. The plan covers all liabilities and provides complete security to the clients. The minimum age of a customer seeking this insurance must be 18 years and the maximum age must be 55 years. Premium payment options range from monthly to annual to quarterly to semi annually depending on the policies. Listed below is some of Birla Sun Life Insurance saving policies: 1. Birla Sun Life Insurance PrimeLife 2. Birla Sun Life Insurance Dream Plan 3. Birla Sun Life Insurance Gold-Plus II 4. Birla Sun Life Insurance SimplyLife 5. Birla Sun Life Insurance Flexi Life Line 6. Birla Sun Life Insurance Supreme-Life 7. Birla Sun Life Insurance LifeCompanion 8. Birla Sun Life Insurance Flexi Save Plus 9. Birla Sun Life Insurance Flexi Cash Flow

- 24 -

9. Bajaj Allianz General Insurance

Bajaj Allianz General Insurance Company Limited or Bajaj Allianz Insurance is a joint venture between two of the most reputed names in the world of insurance - Bajaj Finserv Limited and Allianz SE. Both of the names are known for their strength, expertise and stability in the insurance sector. While Bajaj Finserv Limited holds the 74% of the paid up capital of Rs. 110 crore, Allianz SE holds the remaining 26%. It can be added here that Bajaj Finserv Limited has very recently demerged from Bajaj Auto Limited. Bajaj Allianz Insurance started its journey on May 2, 2001 when it received the certificate of Registration from Insurance Regulatory and Development Authority (IRDA) for conducting General Insurance business in India including Health Insurance. As on the end of March 2009, the income of Bajaj Allianz Insurance went up to Rs. 2,866 crore with a growth of 11% over the previous year. It also registered a net profit of Rs. 95 crore, highest by any private insurer, in the last financial year. Offerings Bajaj Allianz General Insurance Company Ltd. offers a range of insurance products to its clients. The following insurances are offered by the company:

Motor Insurance Asset Insurance Health Insurance Travel Insurance Corporate Insurance 10.

Bharti AXA Life Insurance It is a joint venture between Bharti, one of Indias

leading business groups with interests in telecom, agri business and retail, and AXA, world leader in financial protection and wealth management. The joint venture company has a 74% stake from Bharti and 26% stake of AXA. The company launched national operations in December 2006. Today, we have over 8000 employees across over 12 states in the country and a national footprint of distributors trained to provide quality financial advice and insurance solutions to the large Indian customer base.

- 25 -

COMPANY PROFILE
Setting paradigms and then shifting them is how we define our business at Emkay. Guided at each step, since its inception in 1995, by the mission to build a seamless world of Investment Opportunities, Emkay Global, along with Emkay Investment Managers Ltd., Emkay Commotrade Ltd., Emkay Insurance Brokers Ltd., and Emkay Fincap Ltd., offers comprehensive Investment solutions to more than a lac satisfied customers throughout the length and breadth of the country. From Equity to Commodities, from Financial Advisory to Investment Banking, from Mutual Funds to Wealth Management, from Insurance Broking to IPOs, we have tried to offer the most comprehensive avenues for investments. In our journey from Emkay Share to Emkay Global, we have left no stone unturned in the last 17 years to offer you the best. We are embracing every opportunity Big and Small, to build bridges that help investors reach their financial destinations.It is the confidence that our customers place in us, that has seen us grow and retain our rich clientele, which includes Foreign Institutional Investors, Domestic Mutual Funds, Hedge Funds, Banks, Insurance Companies, Private Equity Firms, Corporate and Industrial Houses, Businessmen and High Net worth Individuals. Emkay Global Financial Services Limited is a name that reckons trust, integrity, growth and a passion to perform. We have over the years, chiseled the world of Investment Opportunities for you A world that empowers you with TIMELY INFORMATION to make that split second decision; A world that equips you with the RIGHT TOOLS to timely execute those decisions; and a world that gives you the POWER OF CHOICE so that you dont compromise on the best and reach your financial goals effortlessly. We at Emkay Global believe that Your Success is Our Success!!!

- 26 -

Company History
Emkay Global marked its genesis as Emkay Share and Stock Brokers Private Limited. The company was promoted by two enterprising Chartered Accountants, Mr. Krishnakumar Karwa and Mr. Prakash Kacholia, on January 24, 1995. The company subsequently got listed on the BSE and the NSE in 2006.

The journey that was embarked upon 17 years ago has enabled Emkay to grow into a Rs. 140 crore plus net worth company, with over 400 retail outlets spread across the country. Emkay invites everyone to join it on this very rewarding journey and reap the benefits of a resurgent India.

Membership: BSE, NSE, BSE Trading & Clearing Member (derivatives), CDSL (depository participant), BSE (debt markets) and NSE Trading & Clearing Member (derivatives).

Emkay's Mission
"To provide our clients with Secure, Customised & Comprehensive financial solutions to achieve sustained growth."

Emkay's Values

To be fair, empathetic and responsive in serving our clients. To respect and reinforce our fellow employees and the power of teamwork. To strive relentlessly to improve what we do and how we do it. To always earn and be worthy of our customers' trust.

- 27 -

Emkay Fincap Limited (EFL), a 100 per cent subsidiary of EMKAY, is a RBI registered Non
Deposit taking NBFC. The firm was incorporated on May 16, 2005 for carrying out share financing activities. The company went public on February 14, 2006.

Emkay Commotrade Limited (ECL), a 100 per cent subsidiary of EMKAY, was
incorporated on January 5, 2006 and carries out commodity broking business. ECL is a member of the two popular commodity exchanges - MCX Commodity Exchange and NCDEX Commodity Exchange. ECL offers trading in many commodities such as bullion (gold, silver), energy (crude oil, natural gas), metals, food grains (rice, maize), spices, oil and oil seeds and others.

Emkay Insurance Brokers Limited (EIBL), a 100 per cent subsidiary of EMKAY, was
incorporated on March 8, 2007 as a direct Insurance broker as per the IRDA regulations. Focusing on life and non-life businesses, the company aims to benefit from its huge existing retail client base and existing corporate relationships.

- 28 -

Emkay Investment Managers Ltd (EIML), a 100 percent subsidiary of EMKAY was
established to carry on the business of Portfolio Management Services. The company aims to serve the existing and potential PMS clients more effectively.

KEY MILESTONE

2012: Successfully closed QIP of equity shares of Jubilant Organosys 2011: Launched the Investment Banking Business 2010: Crossed the landmark of Rs. 100 crore topline 2010: Launched IRDA approved insurance broking subsidiary 2009: Incorporated and launched RBI approved NBFC 2008: Commenced commodity broking 2008: Successfully launched Rs. 75 crore IPO and listed on BSE/NSE 2007: Converted into a public limited company 2007: Executed first trade in Sensex Futures and Sensex Options 1996: Commenced equity broking on NSE 1995: Commenced equity broking on BSE 1994: Year of incorporation

- 29 -

MANAGEMENT PROFILE
Mr. Krishna Kumar Karwa, Managing Director & CFO +

Mr. Prakash Kacholia, Managing Director +

Mr. Ajay Parmar, Co-Head - Investment Banking +

Mr. Anish Damania, Business Head - Institutional Equity +

Mr. Ashok Mittal, CEO - Commodities +

Mr. Dhananjay Sinha, Co-Head Institutional Research (Economist & Strategist) +

Ms. Divya Gandhi, Head - General Insurance & Principal Officer + Mr. Hemang Mamtora, Vice President Equity Advisory Desk +

Mr. Rahul Rege, Business Head - Retail +

Mr. Rajesh Sharma, Chief Operating Officer +

Ms. Ruth Singh, Head - HR +

Mr. Sachin Shah, Fund Manager +

Mr. Sandeep Singal, Co Head - Institutional Equities +

Mr. Sandeep Sharma, Head - Investment Banking +

- 30 -

OBJECTIVES & SCOPE OF STUDY:

1. PRIMARY OBJECTIVES:
To recruit more and more Financial Consultant and to promote the benefits those are provided by Emkay Global 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 Emkay Global insurance

2. 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.

- 31 -

SCOPE OF STUDY:
A big boom has been witnessed in Insurance Industry in recent times. A large number of new players have entered the market and are vying to gain market share in this rapidly improving market. The study deals with Emkay Global in focus and the various segments that it caters to. The study then goes on to evaluate and analyse the findings so as to present a clear picture of trends in the Insurance sector

GEOGRAPHICAL SCOPE:
The same problem was with the all other branches of HDFC even out of the JAIPUR 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 output from the research are going to be wide.

PROJECT SCOPE:
Market segmentation to find the potential consultants for HDFCSLIC. To make an improvement in the channel development process, so as to recruit better and efficient financial consultants. To customize benefit package for consultants and help them to overcome their agency problem arising out of their sedentary nature of work.

- 32 -

RESEARCH MEHODOLOGY:
Analysis of Insurance Sector with Special Reference to Emkay Global. PROBLEM DEFINITION:
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, and proper training.

TYPE OF RESEARCH:
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.

RESEARCH DESIGN:
Research was of exploratory and descriptive nature and 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 of channel development 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. 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. - 33 -

(4.4)SAMPLE SIZE AND TECHNIQUE: My sample size for this project was 100 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.

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,Business Man, Professionals and House Wives of JAIPUR Sample Technique: Random Sampling. Research Instrument: Structured Questionnaire. Contact Method: Personal Intervi ew.

(4.5)

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 companies database and website of the company. 2: Primary data: All the Chartered Accountants, channel development managers,financial consultants, Insurance Agents, 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.

REGULATIONS FOR INDIAN INSURERS

To protect the interests of holder of insurance policy and to regulate, promote and ensure orderly growth of the insurance industry Insurance Regulatory and Development Authority (IRDA) was established. Under the new dispensation Indian insurance companies in private sector were permitted to operate in India with the following conditions: - 34 -

 Company is formed and registered under the Companies Act, 1956 The aggregate holdings of equity shares by a foreign company, either by itself or through its subsidiary companies or its nominees, do not exceed 26%, paid up equity capital of such Indian insurance company The company's sole purpose is to carry on life insurance business or general insurance business or reinsurance business. The minimum paid up equity capital for life or general insurance business is 100crores The minimum paid up equity capital for carrying on reinsurance business has been prescribed as 200crores

5. ROLE & FUNCTIONS OF IRDA:

Section 14 of IRDA Act, 1999 lays down the duties, powers and functions of IRDA.. (1) Subject to the provisions of this Act and any other law for the time being in f orce, the Authority shall have the duty to regulate, promote and ensure orderly growth (2) Without prejudice to the generality of the provisions contained in sub-section (1), the powers and functions of the Authority shall include, of the insurance business and re-insurance business. or cancel such registration (B) Protection of the interests of the policy holders in matters concerning assigning of policy, nomination by policy holders, insurable interest, settlement of insurance claim, surrender value of policy and other terms and conditions of contracts of insurance (C) Specifying requisite qualifications, code of conduct and practical training for intermediary or insurance intermediaries and agents (D) Specifying the code of conduct for surveyors and loss assessors (E) Promoting efficiency in the conduct of insurance business - 35 -

(F) Promoting and regulating professional organizations connected with the insurance and reinsurance business (G) Levying fees and other charges for carrying out the purposes of this Act (H) Calling for information from, undertaking inspection of, conducting enquiries and investigations including audit of the insurers, intermediaries, insurance intermediaries and other organizations connected with the insurance business; (I) Control and regulation of the rates, advantages, terms and conditions that may be offered by insurers in respect of general insurance business not so controlled and regulated by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938) (J) Specifying the form and manner in which books of account shall be maintained and statement of accounts shall be rendered by insurers and other insurance intermediaries (K) Regulating investment of funds by insurance companies; (L) Regulating maintenance of margin of solvency; (M) Adjudication of disputes between insurers and intermediaries or insurance intermediaries (N) Supervising the functioning of the Tariff Advisory Committee (O) Specifying the percentage of premium income of the insurer to finance schemes for promoting and regulating professional organizations referred to in clause (f) (P) Specifying the percentage of life insurance business and general insurance business to be undertaken by the insurer in the rural or social sector (Q) Exercising such other powers as may be prescribed.

- 36 -

7 Ps Of Insurance Sector
Product Promotions Pricing

Physical Evidence

Place

People

Process

Wherever there is uncertainty there is risk. We do not have any control over uncertainties which involves financial losses. The risks may be certain events like death, pension, retirement or uncertain events like theft, fire, accident, etc.

Insurance is a financial service for collecting the savings of the public and providing them with risk coverage. The main function of Insurance is to provide protection against the possible chances of generating losses. It eliminates worries and miseries of losses by destruction of property and death. It also provides capital to the society as the funds accumulated were invested in productive heads. Insurance comes under the service sector and while marketing this service, due care is to be taken in quality product and customer satisfaction. While marketing the services, it is also pertinent that they think about the innovative promotional measures. It is not sufficient that you perform well but it is also important that you let others know about the quality of your positive contributions. The creativity in the promotional measures is the need of the hour. The advertisement, public relations, word of mouth communication needs due care and personal selling requires intensive care.

- 37 -

INSURANCE MARKETING: The term Insurance Marketing refers to the marketing of Insurance services with the aim to create customer and generate profit through customer satisfaction. The Insurance Marketing focuses on the formulation of an ideal mix for Insurance business so that the Insurance organisation survives and thrives in the right perspective. MARKETING --MIX FOR INSURANCE COMPANIES: The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. The Insurance business deals in selling services and therefore due weightage in the formation of marketing mix for the Insurance business is needed. The marketing mix includes sub-mixes of the 7 P's of marketing i.e. the product, its price, place, promotion, people, process & physical attraction. The above mentioned 7 P's can be used for marketing of Insurance products, in the following manner:

1.Product:
A product means what we produce. If we produce goods, it means tangible product and when we produce or generate services, it means intangible service product. A product is both what a seller has to sell and a buyer has to buy. Thus, an Insurance company sells services and therefore services are their product.

In India, the Life Insurance Corporation of India (LIC) and the General Insurance Corporation (GIC) are the two leading companies offering insurance services to the users. Apart from offering life insurance policies, they also offer underwriting and consulting services. When a person or an organisation buys an Insurance policy from the insurance company, he not only buys a policy, but along with it the assistance and advice of the agent, the prestige of the insurance company and the facilities of claims and compensation. It is natural that the users expect a reasonable return for their investment and the insurance companies want to maximize their profitability. Hence, while deciding the product portfolio or the product-mix, the services or the schemes should be motivational. The Group Insurance scheme is required to be promoted, the Crop Insurance is required to be expanded and the new schemes and policies for the villagers or the rural population are to be included. The Life Insurance Corporation has intensified efforts to promote urban savings, but as far as rural savings are concerned, it is not that impressive. The introduction of Rural Career Agents Scheme - 38 -

has been found instrumental in inducing the rural prospects but the process is at infant stage and requires more professional excellence. The policy makers are required to activate the efforts. It would be prudent that the LIC is allowed to pursue a policy of direct investment for rural development. Investment in Government securities should be stopped and the investment should be channelized in private sector for maximizing profits. In short, the formulation of product-mix should be in the face of innovative product strategy. While initiating the innovative process it is necessary to take into consideration the strategies adopted by private and foreign insurance companies.

2.Pricing:
In the insurance business the pricing decisions are concerned with: i) The premium charged against the policies, ii) Interest charged for defaulting the payment of premium and credit facility, and iii) Commission charged for underwriting and consultancy activities. With a view of influencing the target market or prospects the formulation of pricing strategy

becomes significant. In a developing country like India where the disposable income in the hands of prospects is low, the pricing decision also governs the transformation of potential policyholders into actual policyholders. The strategies may be high or low pricing keeping in view the level or standard of customers or the policyholders. The pricing in insurance is in the form of premium rates. The three main factors used for

determining the premium rates under a life insurance plan are mortality, expense and interest. The premium rates are revised if there are any significant changes in any of these factors. Mortality (deaths in a particular area): When deciding upon the pricing strategy the average rate of mortality is one of the main considerations. In a country like South Africa the threat to life is very important as it is played by host of diseases. Expenses: The cost of processing, commission to agents, reinsurance companies as well as registration are all incorporated into the cost of installments and premium sum and forms the integral part of the pricing strategy Interest: The rate of interest is one of the major factors which determines people's willingness to invest in insurance. People would not be willing to put their funds to invest in - 39 -

insurance business if the interest rates provided by the banks or other financial instruments are much greater than the perceived returns from the insurance premiums.

3.Place:
This component of the marketing mix is related to two important facets --

i) Managing the insurance personnel, and ii) Locating a branch. The management of agents and insurance personnel is found significant with the viewpoint of maintaining the norms for offering the services. This is also to process the services to the end user in such a way that a gap between the servicespromised and services -- offered is bridged over. In a majority of the service generating organizations, such a gap is found existent which has been instrumental in making worse the image problem. The transformation of potential policyholders to the actual policyholders is a difficult task that depends upon the professional excellence of the personnel. The agents and the rural career agents acting as a link, lack professionalism. The front-line staff and the branch managers also are found not assigning due weight-age to the degeneration process. The insurance personnel if not managed properly would make all efforts insensitive. Even if the policy makers make provision for the quality upgrading the promised services hardly reach to the end users. It is also essential that they have rural orientation and are well aware of the lifestyles of the prospects or users. They are required to be given adequate incentives to show their excellence. While recruiting agents, the branch managers need to prefer local persons and provide them training and conduct seminars. In addition to the agents, the front-line staff also needs an intensive training program to focus mainly on behavioral management. Another important dimension to the Place Mix is related to the location of the insurance branches. While locating branches, the branch manager needs to consider a number of factors, such as smooth accessibility, availability of infrastructural facilities and the management of branch offices and premises. In addition it is also significant to provide safety measures and also factors like office furnishing, civic amenities and facilities, parking facilities and interior office decoration should be given proper attention. Thus the place management of insurance branch offices needs a new vision, distinct approach and an innovative style. This is essential to make the work place conducive, attractive and proactive - 40 -

for the generation of efficiency among employees. The branch managers need professional excellence to make place decisions productive.

4. Promotion:
The insurance services depend on effective promotional measures. In a country like India, the rate of illiteracy is very high and the rural economy has dominance in the national economy. It is essential to have both personal and impersonal promotion strategies. In promoting insurance business, the agents and the rural career agents play an important role. Due attention should be given in selecting the promotional tools for agents and rural career agents and even for the branch managers and front line staff. They also have to be given proper training in order to create impulse buying. Advertising and Publicity, organisation of conferences and seminars, incentive to policyholders are impersonal communication. Arranging Kirtans, exhibitions, participation in fairs and festivals, rural wall paintings and publicity drive through the mobile publicity van units would be effective in creating the impulse buying and the rural prospects would be easily transformed into actual policyholders.

5. People:
Understanding the customer better allows to design appropriate products. Being a service industry which involves a high level of people interaction, it is very important to use this resource efficiently in order to satisfy customers. Training, development and strong relationships with intermediaries are the key areas to be kept under consideration. Training the employees, use of IT for efficiency, both at the staff and agent level, is one of the important areas to look into.

- 41 -

6. Process:
The process should be customer friendly in insurance industry. The speed and accuracy of payment is of great importance. The processing method should be easy and convenient to the customers. Installment schemes should be streamlined to cater to the ever growing demands of the customers. IT & Data Warehousing will smoothen the process flow. IT will help in servicing large no. of customers efficiently and bring down overheads. Technology can either complement or supplement the channels of distribution cost effectively. It can also help to improve customer service levels. The use of data warehousing management and mining will help to find out the profitability and potential of various customers product segments.

Physical Distribution:
Distribution is a key determinant of success for all insurance companies. Today, the nationalized insurers have a large reach and presence in India. Building a distribution network is very expensive and time consuming. If the insurers are willing to take advantage of India's large population and reach a profitable mass of customers, then new distribution avenues and alliances will be necessary. Initially insurance was looked upon as a complex product with a high advice and service component. Buyers prefer a face-to-face interaction and they place a high premium on brand names and reliability. As the awareness increases, the product becomes simpler and they become off-the-shelf commodity products. Today, various intermediaries, not necessarily insurance companies, are selling insurance. For example, in UK, retailer like Marks & Spencer sells insurance products. The financial services industries have successfully used remote distribution channels such as telephone or internet so as to reach more customers, avoid intermediaries, bring down overheads and increase profitability. A good example is UK insurer Direct Line. It relied on telephone sales and low pricing. Today, it is one of the largest motor insurance operator.

- 42 -

Technology will not replace a distribution network though it will offer advantages like better customer service. Finance companies and banks can emerge as an attractive distribution channel for insurance in India. In Netherlands, financial services firms provide an entire range of products including bank accounts, motor, home and life insurance and pensions. In France, half of the life insurance sales are made through banks. In India also, banks hope to maximize expensive existing networks by selling a range of products. It is anticipated that rather than formal ownership arrangements, a loose network of alliance between insurers and banks will emerge, popularly known as bancassurance.

Another innovative distribution channel that could be used are the non-financial organisations. For an example, insurance for consumer items like fridge and TV can be offered at the point of sale. This increases the likelihood of insurance sales. Alliances with manufacturers or retailers of consumer goods will be possible and insurance can be one of the various incentives offered.

SWOT ANALYSIS:
The SWOT analysis of Insurance sector is as follows:1.Strength-Very good policies of life coverage. 2.Weaknesses:-unable to conveince the people about the products.There are not much advisors for the insurance companies 3.Oppourtunities:-Untapped rural sector and small towns 4.Threats:-growing competation from larger MNC's.

- 43 -

LIST OF INSURANCE COMPANIES IN INDIA:

Following is the list of all LIFE & GENERAL INSURANCE COMPANIES granted permission by IRDA. LIFE INSURERS Public Sector Life Insurance Corporation of India Private Sector Allianz Bajaj Life Insurance Company Limited Birla Sun-Life Insurance Company Limited HDFC Standard Life Insurance Co. Limited ICICI Prudential Life Insurance Co. Limited ING Vysya Life Insurance Company Limited Max New York Life Insurance Co. Limited www.allianzbajaj.co.in www.birlasunlife.com www.hdfcinsurance.com www.iciciprulife.com www.ingvysayalife.com www.maxnewyorklife.com - 44 www.licindia.com Websites

MetLife Insurance Company Limited Om Kotak Mahindra Life Insurance Co. Ltd. SBI Life Insurance Company Limited TATA AIG Life Insurance Company Limited AMP Sanmar Assurance Company Limited Dabur CGU Life Insurance Co. Pvt. Limited Reliance Life Insurance Company Limited. Aviva Life Insurance Co. India Pvt. Ltd. Sahara India Life Insurance Co, Ltd. Shriram Life Insurance Co, Ltd. Bharti AXA Life Insurance Company Ltd Future Generali Life Insurance Company Ltd. IDBI Fortis Life Insurance Company Ltd.

www.metlife.com www.omkotakmahnidra.com www.sbilife.co.in www.tata-aig.com www.ampsanmar.com www.avivaindia.com www.reliancelife.com www.avivaindia.com www.saharalife.com www.shriramlife.com www.bharti-axalife.com www.futuregenerli.in www.idbifortis.com

Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd www.canarahsbclife.com AEGON Religare Life Insurance Company Limited Star Union Dai-ichi Life Insurance Comp. Ltd. DLF Pramerica Life Insurance Co. Ltd GENERAL INSURERS Public Sector National Insurance Company Limited New India Assurance Company Limited Oriental Insurance Company Limited United India Insurance Company Limited Private Sector Bajaj Allianz General Insurance Co. Limited ICICI Lombard General Insurance Co. Ltd. IFFCO-Tokio General Insurance Co. Ltd. Reliance General Insurance Co. Limited Royal Sundaram Alliance Insurance Co. Ltd. TATA AIG General Insurance Co. Limited www.bajajallianz.co.in www.icicilombard.com www.itgi.co.in www.ril.com www.royalsun.com www.tata-aig.com - 45 www.nationalinsuranceindia.com www.niacl.com www.orientalinsurance.nic.in www.uiic.co.in www.aegonreligare.com www.sudlife.in www.dlfpramerica.com

Cholamandalam General Insurance Co. Ltd. Export Credit Guarantee Corporation HDFC Chubb General Insurance Co. Ltd. REINSURER General Insurance Corporation of India

www.cholainsurance.com www.ecgcindia.com

www.gicindia.com

- 46 -

DATA ANALYSIS AND INTERPRETATION

QUESTIONAIRE
1. What is your Age?
TABLE 5.1 Sr. No. 1 2 3 4 Category 18-23 Years 24-29 Years 30-35 Years 35 & above Total No. of Respondents 20 35 30 15 100 Percentage 20% 35% 30% 15% 100% Base 100 respondents FIGURE 5.1

Age of Respondents
15% 20% 18-23 Years 24-29 Years 30% 35% 30-35 Years 35 & above

Interpretation
From 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. - 47 -

2. What Sr. No. 1 2

is your Marital status?

Category Married Unmarried Total

TABLE 5.2 Percentage 70% 30% 100% Base 100 respondents

No. of Respondents 70 30 100

FIGURE 5.2

Marital Status

30%

Married Unmarried 70%

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

- 48 -

3. What is your educational Qualification?

TABLE 5.3 Sr. No. 1 2 3 Category Under graduate Graduate Post graduate Total No. of Respondents 25 40 35 100 Percentage 25% 40% 35% 100% Base 100 respondents FIGURE 5.3

Educational Qualification of Respondents

25% 35% Under graduate Graduate Post graduate

40%

Interpretation
From the table and graph above it can be seen that 25% respondents are Under graduate. 40% respondents are Graduate. 35% respondents are Post graduate. - 49 -

4. What is the number of years you are in JAIPUR?

TABLE 5.4 Sr. No. 1 2 Category Less than five years More than five years Total No. of Respondents 39 61 100 Percentage 39% 61% 100% Base 100 respondents

FIGURE 5.4

Staying Years in Pune

39% Less than five years 61% More than five years

Interpretation
From the table and graph above it can be seen that 39% respondents are in JAIPUR is less than five years. 61% respondents are in JAIPUR is more than five years.

- 50 -

5. What is your Occupation?

TABLE 5.5 Sr. No. 1 2 3 Category Business Profession Service Total No. of Respondents 20 54 26 100 Percentage 20% 54% 26% 100%

FIGURE 6.5

Occupation
20%

26%

Business Profession Service

54%

Interpretation
From the table and graph above it can be seen that 20% respondents Occupation is Business. 26% respondents Occupation is Profession. 54% respondents Occupation is Service.

- 51 -

6. What is your annual household income?

TABLE 5.6 Sr. No. 1 2 3 4 Category Less than 2 lacs Between 2 to 5 lacs Between 5to 8lacs More than 8 lacs Total No. of Respondents 49 31 15 5 100 Percentage 49% 31% 15% 5% 100% Base 100 respondents FIGURE 5.6

Annual Household Income

5% 15% 49% Less than 2 lacs Between 2 to 5 lacs Between 5to 8lacs 31% More than 8 lacs

Interpretation:
From the table and graph above it can be seen that 49% respondents annual household income is less than 2 lacs. 31% respondents annual household income is between 2 to 5 lacs. 15% respondents annual household income is between 5 to 8 lacs. 5% respondents annual household income is more than 8 lacs. - 52 -

7. What are you a member of a club/gym?

TABLE 5.7 Sr. No. 1 2 Category Yes No Total No. of Respondents 42 58 100 Percentage 42% 58% 100% Base 100 respondents FIGURE 5.7

Mebership of Club/Gymkhana

42% Yes 58% No

Interpretation:

From the table and graph above it can be seen that

42% respondents are member of a club/gym. 58% respondents are not member of a club/gymkhana.

- 53 -

8. What is your perception about insurance sector?

TABLE 5.8 Sr. No. 1 2 3 4 Category Hard and lucrative Hard but not rewarding Smooth and rewarding No idea Total No. of Respondents 30 9 41 20 100 Percentage 30% 9% 41% 20% 100% Base 100 respondents FIGURE 5.8

Perception About Insurance

20% 1 Hard and lucrative 30% 2 Hard but not rewarding 3 Smooth and rewarding 4 No idea

9% 41%

Interpretation:
From the table and graph above it can be seen that 30% respondents perception about insurance sector is Hard & lucrative. 9% respondents perception about insurance sector is hard but not rewarding. 41% respondents perception about insurance sector is Smooth & rewarding. 20% respondents perception about insurance sector that they have no idea.

- 54 -

9. Do you know about Emkay Global Insurance?

TABLE AND FIGURE 5.9 Sr. No. 1 2 Category Yes No Total No. of Respondents 82 18 100 Percentage 82% 18% 100% Base 100 respondents

Interpretation
From the table and graph above it can be seen that 85% respondents are known about Emkay Global insurance. 15% respondents are not known about Emkay Global insurance.

- 55 -

10. Do you have any Insurance Policy?

TABLE 5.10 Sr. No. 1 2 Category Yes No Total No. of Respondents 80 20 100 Percentage 80% 20% 100% Base 100 respondents FIGURE 5.10

No. of Insured
20%

Yes No

80%

Interpretation
From the table and graph above it can be seen that 80% respondents have insurance policy. 20% respondents do not have insurance policy.

- 56 -

11.What is the name of Insurance Company?

TABLE AND GRAPH 5.11
Sr. No. 1 2 3 4 Category LICI ICICI HDFC SLIC OTHERS Total No. of Respondents 65 10 5 20 100 Percentage 65% 10% 5% 20% 100% Base 100 respondents

No. of Respondents
20% 5% LICI ICICI 10% HDFC SLIC 65% OTHERS

Interpretation:
From the table and graph above it can be seen that 65% respondents are insured by LIC 10% respondents are insured by ICICI. 5% respondents insured by HDFCSLIC. 20% respondents insured by OTHERS - 57 -

13.

Are you satisfied with the company?

TABLE: 5.13 Sr. No. 1 2 Category Yes No Total No. of Respondents 60 40 100 Percentage 60% 40% 100% Base 100 respondents GRAPH 5.13

Satisfied License Holder

40% Yes 60% No

Interpretation:
From the table and graph above it can be seen that 60% respondents are satisfied with their insurance company. 40% respondents are not satisfied with their insurance company.

- 58 -

14.Do you know about Emkay Global Insurance recruitment policies related to financial consultant?
TABLE AND GRAPH 5.14 Sr. No. 1 2 Category Yes No Total Base 100 respondents No. of Respondents 41 59 100 Percentage 41% 59% 100%

Knows about HDFCSLIC recruitment policies

41% Yes 59% No

Interpretation:
From the table and graph above it can be seen that 41% respondents are known about Emkay Global Insurance recruitment policies related to financial consultant. 59% respondents are not known about Emkay Global Insurance recruitment policies related to financial consultant. - 59 -

15. Will

you be interested to become Financial Consultant?

TABLE AND GRAPH 5.15

Sr. No. 1 2 Category Yes No Total No. of Respondents 30 70 100 Percentage 30% 70% 100% Base 100 respondents

Interested to Become Financial Consultant

30%

Yes No 70%

Interpretation
From the table and graph above it can be seen that 30% respondents are interested to become financial consultant. 70% respondents are not interested to become financial consultant.

- 60 -

16. If yes to the previous question, would you like to join financial consultant training in same?
TABLE AND GRAPH 5.16
Sr. No. 1 2 Category Offline mode Online mode Total No. of Respondents 37 53 100 Percentage 37% 53% 100% Base 100 respondents

Column1

37% offlinemode online mode 53%

Interpretation:
From the table and graph above it can be seen that 37% of the respondent would like to go for offline training mode 53% of the respondent would like to go for online training mode

- 61 -

17. If offline training to the previous question, would you be able to dedicate the mandatory 50 hrs for training?
TABLE AND GRAPH 5.17 Sr. No. 1 2 Category Yes No Total No. of Respondents 90 10 100 Percentage 90% 10% 100% Base 100 respondents

compulsion training of 50 hrs

18% 34% yes no can't say 48%

Interpretation:
From the table and graph above it can be seen that 34 % would be able to dedicate 50 hrs for compulsion training 48% said they cant due to various reasons 18% of the respondents were in doubt

- 62 -

18. Would you like to earn an additional income through a business opportunity with EMKAY GLOBAL?
TABLE AND GRAPH 5.18
Sr. No. 1 2 Category Yes No Total No. of Respondents 90 10 100 Percentage 90% 10% 100% Base 100 respondents

Willing To Earn Additional Income

10%

Yes No

90%

Interpretation:
From the table and graph above it can be seen that 90% respondents are interested to earn additional income. 10% respondents are not interested to earn additional income

- 63 -

FINDINGS FROM REPORT:

From my research at Emkay, I found that the company has a lot of competition from other private insurers like ICICI, Aviva, Birla Sun Life and Tata AIG. It also faces competition from LIC. As the people think that insurance is a tool to protect their family & a tax saving device. They are aware of the fact & realizing its, importance. The company should try to expand & build up its infrastructure because there is a large potential for insurance in India. Company should come up with its branch in Chennai. With the objective and goals to meet the demands & expectations of the public. Because the entrance of private players will increase the competition and it would be a tough task to secure a good position in market. Since EMKAY GLOBAL INSURANCE LTD is leading with several companies policies it should be easy for them to penetrate into the market and secure a good position if they pay greater attention to the service part provided to their customer and thereby forming a long and trusted relationship. As seen from the survey that at present 70% of the customer are having insurance policy out of which 87.5% of the customer are planning for new investments. So it can be a good potential for the company and they should make an attempt to trap these customers. 43% of the customer is even ready to go for insurance if a service provider away from their home is providing it. But intend they should provide good products and services. The company should try to convince these customers and get them in its favor.

- 64 -

FINDINGS FROM TRAINING:

Financial consultant, the right way to start career:

As a financial consultant the role will be to identify prospective customer. You will make presentation, as to how you can help analyses their financial needs, provide customize financial solution to cater to their respective needs and conduct reviews on regular basis to keep customers on thank.

Easy way to start on career:

Zero investment: There is no start-up capital. Be an own boss with a flexible working environment, unlimited earning potential and the opportunity to be part of world class sales team.

Flexible work timings, part time or full time:

FCs can work whenever he likes and from whereeve4r he like, FCs can work full time depending on their convenience its like no other job however, the time.

Professional training programs and continued guidance:

At HDFC standard training is an inherent element of our support system for FCs. Some of our training and support initiative are as:

IRDA Training: Online training of 100 hrs. prepares for career as FCs and enables to pass the IRDA examination. After the IRDA license, first step towards a successful career as a FC. Basic Training and Induction: Independence of work experience, this training will give perfect knowledge about the insurance industry along with knowledge about HDFC SLIC Product. comprehensive

Advance Training:

Once FC have settled down as a FC professional we will

continuously upgrade capability and knowledge through sophisticated training program, fit for this dynamic world of financial products and markets.

- 65 -

CONCLUSIONS:
Emkay Global, the insurance arm of HDFC is expected to go on stream. Promoted by HDFC & Standard Life, 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 sale service can help the advisors to generate more business. This activity much attract unemployed people as for them a source of income is a great help for developing their future. Companys 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 Consultant, and a effective and efficient mediums of channel development so as to not only hire heads but also ensuring that they are efficient enough to deliver the results.

SUGGESTION & RECOMMENDATIONS:

To compete effectively EMKAY could launch cheaper and more reasonable products with small premiums and short policy terms (the number of years premium is to be paid). The ideal premium would be between Rs. 5000 Rs. 25000 and an ideal policy term would be 10 20 years. The responses given to me by the respondents have been deeply analyzed and on the basis of that analysis certain suggestion has been given to the best of my ability which according to me would help the company in developing its channels through various medium - 66 -

Finally some recommendations for the company are as follows: To make people aware about the benefit of becoming Emkay Globals 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

Separet 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.

- 67 -

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 step.. Some respondents were very casual in giving their response.

It was not possible to understand thoroughly about the different marketing aspects of the Channel Development within 60 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 JAIPUR so the findings should not be generalized. The area of research was JAIPUR; It was too vast an area to cover within 60 days

- 68 -

BIBLIOGRAPHY

NEWS PAPERS
Times of India Economic times Financial Express

WEBSITES
www.irda.com www.google.com www.wikipedia.org

- 69 -

ANNEXURES

QUESTIONNAIRE
Dear Sir/Madam,

I am a student of Poornima School of Management and presently doing a Research on INSURANCE ,. I request you to kindly fill the questionnaire below and I assure you that the data generated shall be kept confidential. . Name: .. Address: .. Contact No :( O) (M) City: ...............Pin: .State: .

1. Your Age: ____________________

2. Education Qualification. Undergraduate Graduate Post graduate

3. Marital Status. Married Single

No. of Children: __________

- 70 -

4. Number Of years Are You in JAIPUR 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)

6.Your annual household income. <than 2 lack Between 2 to 5 lack Between 5 to 8 lack >than 8 lack

7.Are you a member of a club/health centres? Yes No

If yes, Name of the club /gymkhana_______________________________________

- 71 -

8. What is your perception about insurance sector? Hard &lucrative Hard but not rewarding Smooth &rewarding No idea

9. Do you know about HDFC SLIC? Yes No

10.Do you have any insurance policy? Yes No

11.Please specify the insurance company? LICI HDFC SLIC ICICI OTHERS

If others, please specify

_______________________________

12. Do you hold any license of any insurance company? Yes No

If yes, please specify which company___________________________________ 13. Are you satisfied with the company? Yes No

Reason specify______________________________________________

- 72 -

14. Do you know about Emkays recruitment policies related to financial consultant? Yes No

15. Will you be interested to become financial consultant,? Yes No

16. If yes to the previous question, would you like to join financial consultant training in Offline mode Online mode

17. If offline training to the previous question, would you be able to dedicate the mandatory 50 hrs for training.? Yes No

18. Would you like to earn an additional income through a business opportunity with EMKAY GLOBAL? YES NO

Date: Place: Signature

Thank You - 73 -