IDBI FEDERAL LIFE INSURANCE

ISHANT KATHURIA
PG IB
26

INTRODUCTION
Training Company: IDBI Federal Life Insurance
Training Department: Life Insurance
Period of training: 8 weeks
OBJECTIVE OF INTERNSHIP
Internship was divided into 2 parts:

Part 1: Project which involved studying consumer behavior in relation to
Insurance products in IDBI Federal Life Insurance

Part 2: Sales
PART 1: PROJECT


consumer behavior in relation to Insurance products in IDBI Federal
Life Insurance
PROJECT CONTENTS
Industry Background
Indian Insurance Sector
Company background
Contribution of the insurance sector to the economy
Evolution in the Insurance Industry
Primary & Secondary Research
Factors influencing consumer behavior
Recommendations & Conclusions

PART 2: INSURANCE SALES

This part involved following tasks:
Understanding products to be offered in depth
Identifying prospects
Communicating benefits of products to potential customers
Relentlessly following them
Conversion
Reporting to company


WEEKLY BREAKDOWN
Weekly breakdown of the tasks & all the deadlines were fully achieved. Tasks
assigned were:
Reporting to mentor on every alternate day
Project topic submission & approval from both the mentors
Project Proposal
Interim Report
Final Report
Insurance policy sales



LEARNING
Chance of working in a Insurance domain & understanding financial
products offered
Had a chance to do B2C sales, Market Research
Detailed knowledge of consumer behavior, how it effects to make
purchase decision in insurance
Primary & Secondary research techniques
Questionnaire designing and analyzing results
Practical recommendations based on above analysis



RECOMMENDATIONS
Effective distribution channels
Focus on overall financial inclusion
Consumer needs and preferences
Tightening the belt by leveraging technology and exploring alternate low-cost
channels
Sustaining growth through increased transparency





Thank You..!!