Beruflich Dokumente
Kultur Dokumente
the felt gap between the theory and practical. In the case of a student of finance
Manager), Mr. Jasvinder Singh, Mr. Saurabh Jasiwal for their guidance and
training project would not have been possible. They are a constant source of
inspiration to me, showing all the patience and abundant encouragement through
2
3
ACKNOWLEDGEMENT TO THE M.P.E.C. MANDHANA
KOTHI, KANPUR
exposure into real life business practices. Research Methodology and its
concepts were a great help to me in the course of the summer training project.
I would also like to thank Mr. Ashutosh (H.O.D.) M.P.E.C. Kanpur, who
4
CERTIFICATE FROM COLLEGE
This is to certify that the project entitled “TO STUDY AND WORK
The project or any part of it has not been previously submitted for any
degree.
H. O. D.
5
PREFACE
PRODUCT.”
The nature of the project is, recruitment of lead for Kotak Life
Insurance, by doing so the benefit of the company is, the company will expand
its distribution channel, and on the other hand, by doing so, it has really helped
Marketing Procedure of the organization and the important role that the advisors
represents the trust and integrity of Kotak Life Insuracne with the international
The main importance of this project, from the company’s point of view
is that the company will be having life long man power in the form of advisors
who will be bringing lots of business to the company and help the company to
distinguishes a Kotak Life Insurance advisor from any other advisor in the
insurance market. (Which is discussed in great detail in the later part of the
report)
6
The advisors are mainly the people who establish a relation of the
customers with the company by selling the policies of the respective company.
They act as a channel distribution partner, and moreover the advisors are the
idea and the concept sellers who are responsible, not only for selling policies,
but also to bring awareness in the market about the need of life insurance,
situations like, how to take quick decisions, how to deal with customers, and
7
DECLARATION
summer training. The data mntioned in this project report is genuine and were
collected by me during this course of the project. Any other information or data
has been collected or borrowed from outside agency or some other report has
been duly acknowledged in this project report. It is also to certify that no facts or
Place : Kanpur
8
INDEX
Summary 11-12
PART – 1
INSURANCE [14-28]
• Insurance 15
• About Insurance 16
PART – 2
9
PART – 3
• Research Methodology 59
MARKETING [72-83]
• Marketing 72
Observation 95
Recommendation 96
QUESTIONNAIRE [97-108]
• Questionnaire – 1 98-102
• Questionnaire – 2 103-108
Bibliography 109-110
Webliography 111-112
10
EXECUTIVE SUMMARY
its face and pace to tap the market and to make the new challenges in it.
Insurance in India is not about India only; it is an open sector for the
private players.
The name which you would see in Indian insurance market is something
Companies now are tapping a lot of ways to capture the market and
hence adopting different ways to hold the large portion of the market.
by the companies to increase their market share and along with it meeting their
own targets to achieve the position of no. 1 in respective field or segment of the
market.
order to learn a lot of things of the corporate. As a project trainee the first task
manipulate the market according to the our target competition. For this we did
Nagar.
From this database I was asked to do the called calling in order to make
strengthen the agency channel and I learnt how to develop this channel and how
11
to create the business opportunities besides grabbing them. This made me to
know issues of competitive market in a better manner and it also gave me a lot of
12
13
14
Insurance :
I - Innovation
N - Need Based
S - Solution Oriented
U - Urgent
R - Rational
A - Assume
N - Neutral
C - Compensation
E - Effective
15
About Insurance :-
of the life and other assets. Under the plan of Insurance a group of people are
brought together and their share of money is pooled to manage the loss suffered
by any of them.
by the insured the insurers pay the financial loss suffered by the insured as a
result of the loss by the unforeseen events. The term “risk” is used to define the
probability of loss.
of risks makes contribution to the common fund out of which the losses suffered
The sharing of risk among large group of people is the basis of insurance.
Characteristics of Insurance:-
1. Sharing of Risk
2. Cooperative device
3. Evaluation of Risk
16
7. Insurance is a business which spreads the loss and the risk of few
1. General Insurance
2. Life Insurance
Insurance of the non life assets are called general insurance, this includes
loss of asset against water, fire, earthquake etc. With the detarrification in the
public sector’s companies has been broken. With the entrance of the new private
player market innovative technique has been introduced to capture the market. In
general Insurance around 17% of the market has been captured by the private
players.
17
United India Insurance Co. Ltd.
HDFC Chub
Life Insurance in India existed from long time. The modern concept of
was the first Insurance Company who did Insurance for the Indian in 1818 and
government in it, private market players ruled the market as they want to, that is
why government intervened in between to protect the interest of the mass and to
From that time i.e. from the year 2001 insurance sector was opened for the
private players too. Since them Insurance sector is on the boom and business is
flourishing and a lot of private players are coming into business. Here the private
players doesn’t indicate to Indian Private Companies but also foreign players are
also involved in it, but to manage the money flow in and outside the country
18
IRDA takes care of the contribution of the money by foreign partners of private
insurance companies. To control that IRDA has set a limit of FDI i.e. 26%.
Year Changes
company.
1912 The Indian Life Assurance Company enacted the first law to regulate the
1938 The earlier legislation consolidated and amended the life insurance act
1956 245 Indian and foreign players and prudent societies are taken once by
changed drastically now the number is in 17. List of them are mentioned as
below.
19
6. Bharti AXA Life Insurance
And so on…
Life Insurance contracts are the one which has to fulfil the requirements
Indian Contract Act 1972 implies : A contract must have certain essential
Essential Features :-
20
4. Capacity to contract :- The insured should have the capacity to perform
Above details have some technical words like Insured, Insurer, and
Premium etc. Let’s make a brief note on that for a better understandings:-
Policyholder :-
Insured :-
Insurer :-
Premium :-
P.S. :-
Policyholder and insured can be same person and can be two individuals
even.
Apart from the Legal Structure of the Insurance Contract there are some
principles are:-
21
Utmost Good Faith :-
all the contents which are filled and signed by him on the proposal form are true
Insurable interest :-
It means that the property or life which is to be insured the proposer has
the legal rights upon that. Without insurable interest no insurance can be
provided. In life insurance term legal rights on life means to prove the blood
FUNCTION OF INSURANCE :-
If asked we should know the benefits of the insurance and that can be
PRIMARY FUNCTION:-
the loss and give respective claims as for the sake of contract that has
so as to charge the correct and legible premium to charge the correct and
22
4. Provide the certainty:- As the losses appear from the uncertainty so
loss so as to protect the insured under the risk in which he has been
insured.
SECONDARY FUNCTION:-
safety instructions.
2. Small capital to large risk:- Small capital is demanded to cover the risk of
OTHER FUNCTION:-
It is a means of savings and investment apart from it its share in the GDP
23
United Kingdom 8.9%
Japan 8.3%
Korea 7.3%
Malaysia 3.6%
India 3.0%
China 1.8%
Brazil 1.3%
24
If we talk in terms of India only then the result will be
Insurance premium
Three avenues for growth
as % GDP
12 1 Addition of new
Threshold for customers
insurance pick-up
10
8 2 Existing
customers by
6 more
I N DI A
2
3 Extension to new
0 geographies
100 1,000 10,000 100,000
25
with some product
... still remains # 19 in insurance terms ... categories nascent
Premium Income ($ Bn)
Italy 112
! Disability and critical illness
insurance
S Korea 60
26
Working of Life Insurance:-
Speculative risk is the one which truly resembles gamble. There is the
possibility of loss or gain and wherever there is a chance of making profit there
insurance cannot exist. Therefore these risks are not insurable in nature.
the loss.
systematic manner.
27
4. Transfer of Risk:- Risk can be minimized by transferring the risk of loss
28
29
30
About Kotak Mahindra Old Mutual Life Insurance:-
2003 Bank
As stated above Kotak Mahindra Life Insurance has Joint venture with Old
Mutual plc.
Old Mutual Plc is the 12th largest Insurance Company is the world. It has
its base of over 4 million life assurance policyholders. It has one of the best
“Payouts” among insurers in the world. It has one of the best “Solvency Ratios”
among insures in the world. A FTSE 100 financial services group and ranks as a
Fortune Global 500 company. The Old Mutual group manages is excess of 239
31
billion pounds in funds (Dec’06). The company is 160 years old and has
Kotak Group and Mahindra Group had their partnership 1985 between
Now the question arises that way for the business in India of life
insurance Kotak Mahindra chose Old Mutual plc and vice versa.
32
No. Insurer Market Share%
8 Aviva 1.14
12 MetLife 0.40
33
Figure
34
If we talk the growth of Insurance industry’s private players in recent years, the
1 6 0 0
1 4 0 0
1 2 0 0
1 0 0 0
8 0 0
6 0 0
4 0 0
2 0 0
0
35
Structure of Kotak Life Insurance:-
CFO:- G. MURALIDHAR
36
MARKETING TEAM STRUCTURE:
37
Summer Training Learning:-
Developing the source for marketing and development of the business through
1. CONSUMER BEHAVIOUR
2. TELE MARKETING
3. CHANNEL DEVELOPMENT
4. UNDERWRITING TRAINING
38
100 responses of people turned to following:-
People’s Response
2 8
8 3
1 2
I n s u r e d F r o m
I n s u r e d F r o m
4 7 I n s u r e d F r o m
A w a r e n e s s A
39
Kotak’s Product for Individual Life Insurance:-
Traditional Plans:-
1. Endowment Plan
Additional Features:-
40
1. Riders
2. Nominees
3. Life Guard
41
Kotak Capital Multiplier Plan:-
Kotak is the only plan of its kind that allows the return to be enjoyed beyond
maturity. It is a kind of super endowment plan that offer the bonus every year,
and also offers the facility to increase the investment and it also offers the
facility to withdraw the money as when wants to over a 15 year period post
maturity, apart from that additional life cover of 10%, which is over and above
Other Features like surrender to the policy can be opted out of any medical
Kotak Flexi gives a comprehensive long term solution for managing finances. It
options are given for the type of aggressiveness required for the investment and
42
Different Fund options are available like Dynamic floor guaranteed floor etc.
Special Feature:- Flexi also has the feature of Guaranteed Maturity Value that is
on the maturity of the policy one will be getting at least whatever has been
43
Kotak Smart Advantage Plan:-
44
45
B U L L IS H M A R K E T
S IT U A T IO N
46
47
B E A R IS H & V O L A T IL E
M A R K E T S IT U A T IO N
48
49
50
N E W E LY L A U N C H PR O D U C T
K O T A K D Y N A M IC F L O O R F U N D
51
D F F -A S S E T A L L O C A T O N
0 % to 7 5 %
2 5 % to 1 0 0 %
M edum
52
1 .7 5 %
53
Five Core Values of
excellence, unity and responsibility. These values, which have been part of the
Group's beliefs and convictions from its earliest days, continue to guide and
drive the business decisions of Kotak companies. The Group and its enterprises
have been steadfast and distinctive in their adherence to business ethics and their
the Group the trust of many millions of stakeholders in a measure few business
values continue to direct the Group's growth and businesses. The five core Kotak
humanity for our colleagues and customers around the world, and always
standards in our day-to-day work and in the quality of the goods and
services we provide.
54
• Unity: We must work cohesively with our colleagues across the Group
and with our customers and partners around the world, building strong
ensuring that what comes from the people goes back to the people many
times over.
55
56
57
RESEARCH METHODOLOGY
Moreover it helps in the evaluation of research by other also. So for the research
58
59
Objective of The Study
The very objective of any summer Internship project is to get a high degree
of corporate exposure and learning. The objective is to get a high class On the Job
training from the company for practical learning purpose along with full filling the
trainees like us in the related subject matter in which the company is doing business.
Before starting the project work, lots of classroom lectures and training have been
undergone. The training included through knowledge about INSURANCE and other
related topics.
separately.
When a person works in some company, first of all it is very important for
him to know about the company. Therefore first I have learned a lot about KOTAK
LIFE INSURANCE and in the same time it also took me a good lot of time in
In the class room training I have learned not only about KOTAK LIFE
INSURANCE, but also the market share of KOTAK LIFE INSURANCE and,
The nature of the project is to study and work with the channel
60
distribution channel and recruitment of advisors and analhysis of various
products, by doing so the benefit of the company is, the company will have life
long channel partners and in return The summer Trainees like us, will practically
learn about the working of the company and the Life Insurance Sector as a
whole
The lead generators are mainly the people who establish a relation of the
customers with the company by selling the policies of the respective company.
They act as an channel distribution partner, and moreover the advisors are the
idea and the concept sellers who are responsible, not only for selling policies,
but also to bring awareness in the market about the need of life insurance,
specially in the Indian market LEAD GENERATER are the key persons in an
Flexible Timings
No capital investment
Other Benefits
Network of Contacts
61
62
63
SWOT analysis came from the research conducted at Stanford Research Institute
from 1960-1970. The background to SWOT stemmed from the need to find out
why corporate planning failed. The research was funded by the fortune 500
companies to find out what could be done about this failure. The Research Team
were Marion Dosher, Dr Otis Benepe, Albert Humphrey, Robert Stewart, Birger
Lie.
It all began with the corporate planning trend, which seemed to appear first at
Du Pont in 1949. By 1960 every Fortune 500 company had a 'corporate planning
manager' (or equivalent) and 'associations of long range corporate planners' had
corporate planning in the shape of long range planning was not working, did not
It was widely held that managing change and setting realistic objectives which
carry the conviction of those responsible was difficult and often resulted in
questionable compromises.
The fact remained, despite the corporate and long range planners, that the one
and only missing link was how to get the management team agreed and
To create this link, starting in 1960, Robert F Stewart at SRI in Menlo Park
California lead a research team to discover what was going wrong with corporate
planning, and then to find some sort of solution, or to create a system for
64
enabling management teams agreed and committed to development work, which
The research carried on from 1960 through 1969. 1100 companies and
completed by over 5,000 executives. Seven key findings lead to the conclusion
that in corporations chief executive should be the chief planner and that his
defined the 'Chain of Logic' which became the core of system designed to fix the
1. Values
2. Appraise
3. Motivation
4. Search
5. Select
6. Programme
7. Act
We discovered that we could not change the values of the team nor set the
objectives for the team so we started as the first step by asking the appraisal
question ie what's good and bad about the operation. We began the system by
asking what is good and bad about the present and the future. What is good in
present is a Fault and bad in the future is a Threat. This was called the SOFT
analysis.
65
When this was presented to Urick and Orr in 1964 at the Seminar in Long Range
SWOT was then promoted in Britain by Urick and Orr as an exercise in and of
itself. As such it has no benefit. What was necessary was the sorting of the issues
The second step then becomes 'what shall the team do' about the issues in each
of these categories. The planning process was then designed through trial and
error and resulted finally in a 17 step process beginning with SOFT/SWOT with
The first prototype was tested and published in 1966 based on the work done at
'Erie Technological Corp' in Erie Pa. In 1970 the prototype was brought to the
UK, under the sponsorship of W H Smith & Sons plc, and completed by 1973.
The operational programme was used to merge the CWS milling and baking
The process has been used successfully ever since. By 2004, now, this system
has been fully developed, and proven to cope with today's problems of setting
66
and agreeing realistic annual objectives without depending on outside
The key findings were never published because it was felt they were too
1) A business was divided into two parts. The base business plus the
and published in his book the 5th Dimension. The amount of development
the books within a period of 5 to 7 years. This was a major surprise and urged
the need for discovering a better method for planning and managing change.
2) Dr Hal Eyring published his findings on 'Distributive Justice' and pointed out
that all people measure what they get from their work and divide it by what they
give to the work and this ratio is compared to others. If it is not equal then the
person first re-perceives and secondly slows down if added demands are not met.
(See for interest Adams Equity Theory and the Equity Theory Diagram pdf)
3) The introduction of a corporate planner upset the sense of fair play at senior
4) The gap between what could be done by the organisation and what was
5) The senior man will over-supervise the area he comes from. Finance- Finance,
Engineering-Engineering etc.
67
6) There are 3 factors which separate excellence from mediocrity:
planning.
In Conclusion
By sorting the SWOT issues into the 6 planning categories one can obtain a
system which presents a practical way of assimilating the internal and external
information about the business unit, delineating short and long term priorities,
and allowing an easy way to build the management team which can achieve the
This approach captures the collective agreement and commitment of those who
finally set. It permits the team leader to define and develop co-ordinated, goal-
directed actions, which underpin the overall agreed objectives between levels of
68
1. Product (what are we selling?)
provide a framework by which SWOT issues can be developed into actions and
This can be something of a 'leap', and so the stage warrants further explanation.
Translating the SWOT issues into actions, are best sorted into (or if necessary
broken down into) the six categories, because in the context of the way that
business and organizations work, this makes them more quantifiable and
more manageable. The other pivotal part in the process is of course achieving the
commitment from the team(s) involved, which is partly explained in the item
As far as identifying actions from SWOT issues is concerned, it all very much
depends on your reasons and aims for using SWOT, and also your
Depending on pretext and situation, a SWOT analysis can produce issues which
very readily translate into (one of the six) category actions, or a SWOT analysis
69
Whatever, SWOT essentially tells you what is good and bad about a business or
a particular proposition. If it's a business, and the aim is to improve it, then work
on translating:
Threats (counter)
into actions (each within one of the six categories) that can be agreed and owned
If the SWOT analysis is being used to assess a proposition, then it could be that
the analysis shows that the proposition is too weak (especially if compared with
which case further action planning, other than exit, is not required.
If the proposition is clearly strong (presumably you will have indicated this
using other methods as well), then proceed as for a business, and translate issues
pleased to say that Albert kindly confirmed that this is indeed correct.)
70
a whole business, then it could make sense to revise the six categories to reflect
the functional parts of the department, or whatever will enable the issues to be
STRENGTHS WEAKNESSES
OPPORTUNITIES THREATS
71
Marketing:-
individuals and groups obtain what they need; want through creating, offering
This definition of marketing rests on the core concepts like: needs, wants, and
demands, products (good, services and ideas); value, cost and satisfaction;
prospects.
Create Awareness
Induce Trial
Demonstrate Benefits
Build Brand
Preference
72
Kotak adopts different methods for the marketing:-
Using Brand name KOTAK, and its effect can be seen as previously Kotak Life
Insurance needed a name Old Mutual with its name but now people Kotak by the
Kotak always expressed itself as always close to Customers with the help of:-
• Ads
• Merchandising
• Corporate Stationery
GENERATION for the BUSINESS, or it turned into the SALES that are again
Tele Marketing is marketing the product through telephone. The most important
OBJECTION HANDLING.
Cold Calling means Calling to the unknown telephone number for the first time
Hot Calling means Calling to already approached person for the further response
Objection Handling means to handle the type of objection that may arise while
calling.
That is what we have done in our Tele Marketing in our summer training.
By different type of calling we used to generate the LEAD for the further
business.
73
• Database for calling was given or random calling was done.
• The one who were interested in knowing the details of the offer by
respondents.
lead for the business depending upon the motto to call, which was
sometimes for the appointment of the Life Advisors and sometimes for
able to talk due to some reasons and they ask to mail the details vie e
mail.
• Not Interested:- Most of the responses turned to not interest the basic
reason for that is, in India Insurance are much about telling then asking.
74
Learning from calling:-
Timing:- Correct time to call is the key facto to make a person listen to you
Quick Witted:- One has to be quick witted with the answers in response of
the respondent, if he says that he is a student so we should motivate him with the
option of pocket money and if the person is earning then the way of attracting
This was the case when we are cold calling with the objective making the Life
advisors.
Active and careful:- One has to be active and careful in lieu to contact again
to that person who gave the time to call later or if appointment has been fixed
then one should be active as to give the person a reminder for at least 2 hour
Correct pitching:- How to pitch about yourself and about the company is
the important aspect in calling as it creates the base for the person that why he
75
Direct Selling part includes Tele marketing through advertisements etc.
76
Brokers are the who can sell the insurance product of a lot of company and is
appointed by the company but works for the individual and earn brokerage
through company.
Life Advisors is the name given to the traditional “Agent” which we often hear.
Life Advisor is the one who can sell the insurance product of only one company
Other channel here means the Corporate Agents, banks, selling through
Franchisee etc. are the parts of the channels which create business for the
company.
First of all PHF form has to be filled along with it necessary document has to be
attached:-
PHF means personal History Form in which NAME, ADDRESS, MOBILE NO.,
Simply all those information has to be there which are necessary to be known to
the company so as to decide the potential of the Proposer to bring the business to
the company.
Then basic requirements as per the rule of the Insurance Act, 1938 has to be
fulfilled.
77
4. Should be 10th if going for rural area, and should be 12th passed if going
for the urban area. Urban area means the area having the population
And then the most important aspect that person will have to go for the 50 hours
training and will have to secure 50% marks to pass the examination conducted
by III (Insurance Institute of India) in behalf of IRDA to get the licence to do the
Company provides the service of the training to its expected Life Advisors as per
When a person becomes licentiate and works as a Life advisor for the company
then the rest part in reference to their motivation is done by the company by
throwing different competition and offering different schemes with bonuses and
targets to keep alive the notion of work and to motivate the Life Advisors to
work more.
This whole process in Kotak Life Insurance is called as Reward and Recognition
Programme:-
Kotak Life Insurance has made this programme and designed various stages in it
The whole Reward and recognition programme of Kotak is known to Kotak Life
78
This was the session in which we were told that how the target is fixed and how
one gets rewarded for what he has done in Kotak Life for the success of him
My kotak life is the theme that is opted by the KOTAK for its employee
FYP i.e. First Year Premium excluding the renewal premium is CPI of the
company.
FOS : Feet on Street. Sales are source of it and source of sales is Life Advisors.
Percentage active : It is that how many policies the Life Advisors have sold or in
a better manner we can say that active is the one who sells at least one policy in
a year.
AVERAGE CASE SIZE is the one on which whole reward and recognition
79
Rewards and recognition has 5 levels in it :-
Program
Governor
Hall
Of Fame
In these levels are sub levels such as launch pad, orbit etc.
But the biggest Reward program is Power club which leads Life Advisor to get
The things that Kotak is doing whether it is tele marketing or brand positioning
or channel development, these all are the part of the strategy in which company
80
Marketing strategy of all the companies is different besides the lot of
If we see the data then we will find that Kotak Mahindra Life Insurance
has very less number of branches according to the latest data in annual report of
2008-2009 by IRDA, Kotak Mahindra Life Insurance has 135 branches, but the
premium that they offer to Insurance Industry is 1121 cores, and the number of
life advisors are not much if we compare it to other companies so from where
does this Premium is amounting this much, it shows that Kotak focuses on big
business houses, i.e. they are much desperate for their business with elephant
If we see the things in a different fashion then we will find that the Kotak is
having the shield of Guaranteed Maturity Value which is the feature which a few
No doubt the company is having a long list of the product with them. Variety is
there as in the range of the product varies from Child product to retirement
solutions, but there focus is in CHILD PLAY as their CHILD PLAN; KOTAK
81
Adding into it JEENE KI AZAADI is the tag that they maintained and they
convey in the market in order to attract the class of 30-45 age who are strong
believer of freedom in working life and 45 is the age group who thinks for the
retirement then to show them the path to get relieved from the responsibilities
they have for their family, which is the part of Advertising and Brand Promoting
82
ICICI Prudential:-
ICICI Prudential is joint venture of ICICI Group with Prudential Plc. Prudential
Plc is of UK.
Prudential Plc. is the largest UK life insurance firm. ICICI Prudential was among
those few first companies who started their business in December 2000 in the
Private Insurance market. 74:26 is the stake of the ICICI and Prudential Plc in
their partnership.
ICICI is the no. 1 private player in Insurance market in term of the premium
share, 7913 crores (approx) was the total [premium by ICICI Prudential in the
year 2008, which is 28% of the total premium contribution by all private players
in the market.
2,34,460 is the number of the Life Advisors that ICICI PRUDENTIAL was
having till 2008-2009 and the number of branches that they are having is 583
which ahs drastically changed from year 2006-2007 to 2007-2008. This magic
So, here we have the marketing strategy for the ICICI Prudential that it is
playing on the numbers of Life Advisors and widening its network to increase its
market share.
The Product on which ICICI Pru is focusing on is Pension Plans, and the biggest
83
84
Research design
research from the problem identification to the research study. The framework
required to prepare such a research design which will state the conceptual
not tested.
approached.
85
86
Sources of data
( including malls ) in various sectors and collected data from each very shops,
called them one by one over the telephone from the office in order to make the
• Yellow Pages and Directories Took the help, the Kotak Life Insurance
DIRECTORIES of Kanpur and made calls to the numbers for the purpose of
telephone.
• Directly Contacted People on The Road During the surveys the people who
came across were contacted directly and on a face to face basis they were also
conveyed the message for joining Kotak Life Insurance Lead Generator.
BANNERS, and others places during a survey specially undertaken for collecting
numbers from banners and after that called them one by one
• Messages on the Chat Room Flashed messages on the business Chat room and
Life Insurance.
87
• Telephone Calling More and more focus has been given on telephone calling
according to the area of strengths, for ex; one person who is good in telephone
pitching has been given the work of telecalling, the one good in documentation has
been allotted the work of completing the documents of each end every applicant, the
one good in field work has been given to see the work in fields, and finally the one
who is expert in dealing with the applicant to motivate them to join Kotak Life
More and more emphasis has been given on telephone calling in order to
convey the message of connecting to the Kotak Life Insurance and moreover to
Documents Required:-
88
• Photo Copy of any Photo ID proof (any college Identity card, or
89
90
Sampling Plan
Sampling Population
For conducting the research study the population covered selected was
Sample size
Data are collected by the questionnaire which have been filled by me for
91
92
Analysis of data collection
HIG
21% LIG
34%
LIG
MIG
HIG
MIG
45%
satisfied with
wants
Number of Lower Income Group (LIG)=34% their income
additional
Number of Middle Income Group (MIG)=45%
income satisfied
Number of High Income Group (HIG)=21%
35% with their dissatisfied but
income don’t want
20% additional
dissatisfie income
d but wants
don’t additional
want income
additional
income 93
45%
People who are satisfied with their income=20%
People who are dissatisfied with their income but don’t want additional
94
OBSERVATION:-
• 135 was the number of branches that Kotak had it in 2007-2008 and their
target is to open 175 branches till the end of the calendar year 2009.
• Number of Life Advisor has increased over time e.g. At the beginning of
financial year 2007-2008, Kotak had 12,523 Life Advisors which turned
business.
is much there.
• Weak Infrastructure as there was hardly any place left open for the
95
RECOMMENDATIONS:-
company.
Kotak Life is only 75 and the 7 states has been touched by the company
suggested here because the people who can drive the private life
upon too.
adopted by Kotak to make its brand also near to middle level, or high
aspirant people because they are the main source of the business in India.
consumer.
96
97
QUESTIONNAIRE - 1
98
8%
28%
14%
50%
99
65%
35%
100
10%
90%
101
63%
37%
102
QUESTIONNAIRE – 2
103
104
15%
35%
40%
10%
105
12%
46%
38%
4%
106
35%
49%
16%
107
40%
18%
42%
108
60%
30%
10%
109
110
Bibliography:-
5. IC-33
111
112
Webliography:-
1. www.irdaindia.org
2. www.sify.com
3. www.insuranceworld.com
4. www.findarticles.com
5. www.kotaklife.com
6. www.google.com
7. www.managementparadise.com
8. www.lifeinsurance.com
113