In all 22 companies<br />2 are only profit making <br />rest 20 are making big time losses.<br />3<br />Source- “Annual Report FY08-09” IRDA. Authorized Website WWW.IRDAINDIA.org<br />
“CHALLENGES IN RETAINING & GETTING PRODUCTIVITY FROM COMMISSION BASED SALES PEOPLE IN INSURANCE INDUSTRY.”<br />4<br />
Primary Objective:-<br /><ul><li>To understand the impact of commission based sales people in insurance industry.
To study factors that affect their productivity of commission based sales people.</li></ul>Secondary Objective:- <br /><ul><li>To find out whether the companies should focus more on commission based people or on-roll sales people.</li></ul>5<br />Objectives<br />
Profile During Internship<br />Working Area – Channel Development Vertical <br />Duration - 2nd May to 22nd July 2010.<br />Job -<br /> To meet the client,<br /> Develop the channel by recruiting <br /> commission based sales people-<br /><ul><li>Financial consultants (Agents),
Business Leader (Channel Partner).</li></ul>6<br />
Research Methodology<br /><ul><li>Geographical Location- Bhopal
Cont…<br /><ul><li>If the farmer without any corporate education sell rotten tomato then can’t we sell insurance…!!!
People feel that they are safe than their environment, thus they pay the premium for their vehicle in advance than, why not for life?
Every good thing is only tested in bad situation. (Whether it’s a sales person or a customer).</li></ul>15<br />
Opportunity<br /> India is among the world's youngest nations, with a median age of 25 years as compared to 43 in Japan and 36 in the US.<br />16<br />Indian = 25 Japan = 43 USA = 36<br />SOURCE - www.ibef.org<br />
Finding<br /><ul><li>Sales people concentrates more on quantity rather than quality.
Sales people do not work on the phenomena of long term relationship.
Those who are giving productivity to the company, Company starts building more of pressure to bring new business.</li></ul>17<br />
Suggestion<br /><ul><li>To reduce the fees for initial training and examination of commission based sales people.
Implementation of policies of having CUSTOMER CENTRIC APPROCH towards customer by sales people.
Regular motivation and appreciation.</li></ul>18<br />
Almighty GOD…</li></li></ul><li>If you’d like a copy of my presentation<br />you can email me at firstname.lastname@example.org<br />You can also find it on <br />http://www.slideshare.net/<br />With the name of “CHALLENGE IN INSURANCE INDUSTRY”<br />21<br />