Comprehensive Study On hdfc

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