2. Sector Information
India Insurance Sector
• 57 Insurance companies
• Growth rate 32-34%
• 3.4% Insurance penetration
• Revenue of Rs 1.23 trillion from premiums
• CAGR is 12%
• 28.80 crore people have insurance policies
50%
10%
5%
4%
5%
6%
4%
3%
2% 1%
2% 1%
7%
Market share
LIC
ICICI
SBI
Bajaj
Reliance
HDFC
Birla
Max
Tata
Met Life
Kotak
3.
4. Insurance Regulatory and Development Authority (IRDA)
• Established in 1999 under the IRDA Act
• Responsible for regulating, promoting and ensuring orderly growth of the insurance and re-insurance business in
India
7. Company Information
Vision
Aim India vision is to deliver high rate of returns to our clients
and to move towards financial independence
Mission
To become an organization that is knowledge centric and
offers expert advice to our clients.
8. AIM India Services
Internship
Compliance & Consulting
Accounting & Taxation
Recruitment, Training & Development
Insurance & Mutual Funds
Retirement planning & Wealth advisory service
International Expansion Service
9. AIM India Product
8% Return on Investment
Tax benefits under sec 80c &
sec 1010d
Life Cover of 1st PREMIUM*
(16-18) times
Joint Ventures of India first Life Insurance
10. SWOT Analysis AIM India
Strength
Corporate
collaborations
Global presence
Business
growth
Rise in per
capita income
Emerging
middle-income
group
Weakness
Dominance of
public sector
Less
promotions
Opportunities
Creation of
strong future
growth
Rise in income
Rise in
awareness
Creation of
stronger
demand
Threat
Economic crisis
Entry of new
NBFCs in the
sector
Varying
government
policies
13. Sales Process Summary at AIM India
Fixing appointment with potential customer.
Meeting with potential customer.
Follow-up through calls and 1-2 more meeting
with potential customer.
Closure and cheque taken from customer.
Insurance bond delivery to the customer address.
14. Importance of
organization
goals
HR practices
Employee
Lifecycle
CTC Payroll Taxation
Different
financial sectors
Tax benefits
Daily sales
report
Various
Products.
Patience
Situation
Handling
Marketing
Strategies
Market scenario
and insights
Customer
perception
Customer
Relationship
Management
Making your
brand better and
stronger
If the customer
doesn't have
need generate it.
Sales pitching
skills
Customer
follows up skills
Customer
retention skills
Conversion of
customer needs
into the want
Promotion of
product
LEARNINGS
15.
16. 5
2
28
5
25
10
12
1 12
Likely to Invest In?
EPF
Gold
Fixed Deposits
Government Bonds
Mutual Funds
Post Office
Real Estate
PPF
Share Market
39%
61%
Have a Insurance Policy?
No
Yes
17.
18. 59%
3%
8%
2%
1%
1%2%
2%
2% 1%
1%
18%
If asked for in which among the following
company would you buy an insurance?
LIC IndiaLife Insurance
Bajaj Allianz Life Insurance
HDFC Life Insurance
Birla Sun Life Insurance
ICICI Prudential Life Insurance
IDBI Federal
India First Life Insurance
Kotak Mahindra Life Insurance
PNB Metlife Insurance
Star Health Life Insurance
Tata AIA Life Insurance
SBI Life Insurance
19. SUGGESTIONS
Promotion of India First Life Insurance should be more on every platform.
Claims of insurance policies should be given on time.
Every benefit illustration through the policy must be shown in the bond.
Every insurance policy should give their customer an online authentication where they can be also
updated with their policy details and premium.
AIM India can collaborate with various multi-national companies and can get data on newly hired
employees, where the company can tell the employee the tax that they can save their salaries.
AIM India should provide their interns with proper documentations and brochures for their plans.
India First Life Insurance needs to make itself visible, so that at least people are aware of it.
Proper campaigns should be created emphasizing on policies that can be trusted, have great
services and characteristics.