Comprehensive Study On hdfc

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Comprehensive Study On hdfc

  1. 1. COMPREHENSIVE STUDY ON SALES PROMOTION THROUGH RECRUITEMENT OF FINANCIAL CONSULTANT IN HDFC SLIC PRESENTED BY- Prabhat mani tripathi
  2. 2. OBJECTIVES <ul><li>To study the products available in the market. </li></ul><ul><li>  </li></ul><ul><li>Recruiting financial consultants for HDFC standard life insurance. </li></ul><ul><li>To study the foreign players in insurance sector. </li></ul><ul><li>To know the awareness of prospect customers about insurance products. </li></ul><ul><li>To analyze strengths weakness opportunity and threats of organization. </li></ul><ul><li>To know the perception of the people about insurance industry. </li></ul><ul><li>To know the interest of the people to work in insurance sector . </li></ul>
  3. 3. Research Methodology   <ul><li>Type of research       :   DESCRIPTIVE RESEARCH </li></ul><ul><li>Sample size               :   200 </li></ul><ul><li>Sampling technique:    RANDOM SAMPLING </li></ul><ul><li>Primary Data: </li></ul><ul><li>First hand information was obtained through face-to-face interviews and questionnaire. </li></ul><ul><li>Questionnaire design </li></ul><ul><li>A questionnaire is designed to know the awareness of the prospects about insurance, their work experience , income level , interest to earn more as well as of the customer perception about the products & services. </li></ul><ul><li>Secondary Data </li></ul><ul><li>Under Secondary sources, we tapped information from internal & external sources. We made use of Internet (such as search engine www.google.com ,), and miscellaneous sources (such as brochures, pamphlets, library) under external sources. </li></ul>
  4. 4. JOB PROFILE <ul><li>Training about products and IRDA criteria for FC </li></ul><ul><li>Market segmentation </li></ul><ul><li>Tele calling </li></ul><ul><li>Cold calling </li></ul><ul><li>Fixing appointment and meeting people </li></ul><ul><li>Follow ups </li></ul><ul><li>Final documentation </li></ul><ul><li>Process to be followed </li></ul><ul><li>Identifying areas to conduct survey . </li></ul><ul><li>Identifying whether the prospect fits our profile of “Likely Financial Consultant” – by administering Questionnaire </li></ul><ul><li>Prospects interest. </li></ul><ul><li>Convert the prospects who are interested . </li></ul>
  5. 5. Survey Analysis <ul><li>Qualification </li></ul><ul><li>Series1- 10 th , series2- 12 th , series3- graduate , series4- PG </li></ul><ul><li>Occupation </li></ul><ul><li>Series1- salaried , series2- self employed, series3- student </li></ul>
  6. 6. Continue………….. <ul><li>Already agency </li></ul><ul><li>Series1- yes , series2 – no </li></ul><ul><li>Awareness about ulip </li></ul><ul><li>Series1- yes , series2- no </li></ul>
  7. 7. Continue………………………. <ul><li>Is life most important investment </li></ul><ul><li>Series1- yes , series2- no </li></ul><ul><li>Want to do part time job </li></ul><ul><li>Series1- yes , series2- no </li></ul>
  8. 8. Swot Analysis <ul><li>Strengths - </li></ul><ul><li>first private life insurance company who got license by IRDA . </li></ul><ul><li>Company with largest distribution network among the private life insurers </li></ul><ul><li>Recently voted as ‘India’s most respected private insurance company’ by Business World </li></ul><ul><li>Weakness- </li></ul><ul><li>less number of branches compare to nearest competitors . </li></ul><ul><li>Many people are not aware about HDFC SLIC in rural areas </li></ul><ul><li>Every employee does not have enough knowledge about insurance products and commission rates </li></ul>
  9. 9. Continue…………………….. <ul><li>Opportunities- </li></ul><ul><li>Eighty percent of India's 1.1 billion people have no insurance cover , so there is huge opportunity of life insurance in India . </li></ul><ul><li>People are being aware about investment, so the investment point of view there is huge opportunity for ulip products </li></ul><ul><li>Threats- </li></ul><ul><ul><li>Many big companies like , max newyork life insurance , ING vaisya are trying to capture market </li></ul></ul><ul><ul><li>Sensex downfall is big threat for ulip link products . </li></ul></ul>
  10. 10. Findings…………………………. <ul><ul><li>After meeting many prospects and common people I observed that people are very much conscious about the advertisement run by the company so it can affect products sales of the company. </li></ul></ul><ul><ul><li>Many people are not satisfied about after sales service of the company. </li></ul></ul><ul><ul><li>Many people want to be financial consultant but they are not able to attend continuous training of 50 hours of IRDA . </li></ul></ul><ul><ul><li>Many people want to have health insurance , and in HDFC SLIC we don’t have . </li></ul></ul><ul><ul><li>HDFC brand name is the very beneficial for HDFC SLIC because many people trust on HDFC BANK . Some people are very loyal about HDFC . </li></ul></ul>
  11. 11. Continue ……………………….. <ul><ul><li>Many people want to have their license in the name of there wife or family members for the tax benefits . </li></ul></ul><ul><ul><li>Some people want to be a financial consultant but they , want that company should pay their license fee. </li></ul></ul><ul><ul><li>Many people are not aware about IRDA examination for being a financial consultant . </li></ul></ul><ul><li>-- Many financial adviser want to have their commission just after giving policies to the company </li></ul>
  12. 12. Suggestions and Recommendations <ul><li>Good attractive broachers </li></ul><ul><li>More number of policies </li></ul><ul><li>Continuous up gradations </li></ul><ul><li>Product knowledge </li></ul><ul><li>Awareness program for rural areas </li></ul><ul><li>Customer care </li></ul><ul><li>Commission as soon as possible </li></ul>
  13. 13. Conclusion

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