The document is a summer training report submitted by Kumari Alka to Aviva Life Insurance Company in India. It provides an overview of Aviva, including that it is a joint venture between UK-based Aviva plc and Dabur Group of India. It details Aviva's products, partnerships with banks for distribution, management team, and awards. It also provides information on life insurance in general, defining it, discussing why insurance is important, who can buy policies, and how policies are useful for financial planning and protecting families.

1. SUMMER TRAINING REPORT ON
DEVELOPMENT OF FINANCIAL
PLANNING ADVISOR
For
AVIVA LIFE INSURANCE COMPANY LIMITED
By
KUMARI ALKA
E 27
In fulfillment for the award of the degree
Post graduate Diploma in Business Management
2009-2011
NEW DELHI INSTITUTION OF MANAGEMENT
F -13 Okhla Phase –1,New delhi , Pin -110020

2. DEVELOPMENT OF FINANCIAL
PLANNING ADVISOR
For
AVIVA LIFE INSURANCE COMPANY INDIA
LIMITED
Under the supervision of
Mr. Gunjan triar
Submitted by FACULTY GUIDE
Kumari Alka Abha Grover
(Roll no-E 27)
NEW DELHI INSTITUTION OF MANAGEMENT
OKHLA, F-13, PHASE-1, NEW DELHI

3. ACKNOWLEDGEMENT
I am thankful and owe a deep debt of gratitude to all those who have helped
me in preparing this report. I am extremely grateful to Mr.SRU manager
Gunjan triar & Sales Manager Mr.Shashank singh and as well to the other
host of officials for their active help and cooperation at each stage of the
study.
I am also very thankful to my faculty project mentor Abha Grover without
whose able guidance and support I would not have been able to complete
my report. I will also like to extend my thanks to our director Mr. M.
Adhikari who gave me an opportunity to have an exposure to the working
environment of the corporate world. It helped me to bridge the gap between
the textbook knowledge and the real industry environment.

4. DECLARATION
I Kumari Alka student of New Delhi Institution of Management Batch
(2009-2011) declare that every part of the Project Report “
DEVELOPMENT OF FINANCIAL PLANNING ADVISOR”
That I have submitted is original.
I was in regular contact with the nominated guide and contacted several
times for discussing the project.`
Date of project submission:
Signature of the student
FACULTY COMMENTS:
Signature of Faculty guide

5. Name
CONTENTS
S. NO TOPICS PAGE NO
1 EXECUTIVE SUMMARY
2 AN OVERVIEW
3 METHODOLOGY
4 RECRUITMENT PROCESS
5 ANALYSIS AND FINDINGS
6 RECOMMENDATIONS
7 CONCLUSION
8 BIBLIOGRAPHY
9 REFERENCE

6. EXECUTIVE SUMMARY
Identifying different profiles of the people and giving them a Business
Opportunity to join AVIVA life insurance as an advisor/agent. (Detailed
study on advisors/agent).
A market survey was done on life insurance companies. Different questions
regarding the companies training programs for agents/advisor, top 5 usp's,
training centers etc were asked. The report contains details of different life
insurance companies, which are in healthy competition with AVIVA life
insurance.
Insurance industry is growing rapidly day-by-day. India itself has a
population of 1.2billion out of which roughly 6.72% people are insured.
This clearly shows that most of the people are not insured just because they
don’t know much about insurance.
Company overview – Aviva life insurance
COMPANY PROFILE

7. AVIVA is UK’s largest and the world’s fifth largest insurance Group. It is
one of the leading providers of life and pensions products to Europe and has
substantial businesses elsewhere around the world. With a history dating
back to 1696, Aviva has a 40 million-customer base worldwide. It has more
than £377 billion of assets under management.
In India, Aviva has a joint venture with Dabur, one of India's oldest, and
largest Group of companies. A professionally managed company, Dabur is
the country's leading producer of traditional healthcare products. In
accordance with the government regulations Aviva holds a 26 per cent stake
in the joint venture and the Dabur group holds the balance 74 per cent share.
Aviva pioneered the concept of Bancassurance in India, and has leveraged
its global expertise in Bancassurance successfully in India. Currently, Aviva
has Bancassurance tie-ups with ABN Amro Bank, American Express
Bank, IndusInd Bank, Centurion Bank of Punjab, The Lakshmi Vilas Bank
Ltd. and Punjab & Sind Bank, Co-operative Banks in Gujarat, Rajasthan,
Jammu & Kashmir, Bihar, West Bengal, Andhra Pradesh and Maharashtra
and regional Banks. When Aviva entered the market, most companies were
offering traditional life products. Aviva started by offering the more modern
Unit Linked and Unitised With Profit products to the customers, creating a
unique differentiation. Aviva’s products have been designed in a manner to
provide customers flexibility, transparency and value for money.

8. Aviva has 176 Branches in India (including rural branches) supporting its
distribution network. Through its Bancassurance partner locations, Aviva
products are available in more than 1600 locations across India.
Partners
Royal Bank of Scotland Group
In 300 years, The Royal Bank of Scotland Group has grown to become one
of the largest financial services groups in the world. They operate around
the globe to provide banking services for individuals, businesses and
institutions.
RBS offers a broad range of transaction banking, fixed income and foreign
exchange products and services, including sales and trading, fixed income
origination, derivatives, structured lending and commodity financing.
Additionally, they provide a diverse range of product offerings including
personal loans, credit cards, savings accounts, financial planning,
investment and insurance services, to meet the everyday financial needs of
over a million Personal Banking clients in India.
Aviva's relationship with RBS commenced in June 2002 when the bank was
known as ABN AMRO. The Bank introduces its customers to Aviva for
insurance and provides access to its affluent customer base across the
country through its operations in 31 branches at 22 locations.
The Lakshmi Vilas Bank Ltd
The Lakshmi Vilas Bank Ltd, based out of Karur, is among the top private
banks in India. It has 221 branches with a customer base of 1.2 million
across 10 states. Currently Aviva products are sold across 204 branches of
LVB.
Punjab & Sind Bank
The Punjab & Sind Bank was established in the year 1908. Based on the
principles of social commitment to the people, to help the farmers, and the
weaker sections of the society to raise their standard of living and play a
significant role in the development of the country. Even after 100 years of
its inception, the Punjab & Sind Bank stands committed to honour the high
ideals of its founding fathers. Punjab and Sind Bank has a network of 915
branches spread all over the country with close to 9400 employees. Fifty

9. one per cent of its branches are in the rural and semi-urban areas.
Aviva signed Corporate Agency Agreement with PSB in September 2004
under which the bank deployed its Insurance Officers (SPs) to sell the Life
Insurance products to its customers through vast network of branches spread
over 175 Districts, 25 States and Union Territory of Chandigarh.
IndusInd Bank
IndusInd Bank Ltd., is one of the leading new-generation private-sector
banks in India. It commenced operations in 1994 and had a net worth of
Rs.866 crore as of March 31, 2006. At present, the Bank has a network of
148 branches and 87 offsite ATMs spread over 118 geographical locations
in 24 states and Union Territories.
Bank of Rajasthan
A private sector bank with 467 branches and a major presence in North
(Rajasthan) has its Head Office in Mumbai. Having a customer base of
nearly 14 lakh and a Rs 13,000 crore deposit base, the bank spreads across
12 regions of Jaipur, Jodhpur, Bikaner, Kota, Bhilwara, Udaipur,
Chandigarh, Delhi, Kolkata, Indore, Mumbai and Bangalore.
Management Team
Name
Designation
TR Ramachandran Chief Executive Officer & Managing Director
Rajeev Arora Director, Finance & Actuarial
Monica Agrawal Director, Corporate Initiatives
Vishal Gupta Director, Marketing
Sumit Behl Director, Business Risk & Internal Audit
Ravi Bhadani
Company Secretary and Senior Vice President-
Compliance & Legal

10. Munish Sharda Director, Direct Sales Force
Rishi Piparaiya Director, Bancassurance
Sandip Mallik Director, HR
Jyoti Vaswani
Chief Investment Officer & Director, Fund
Management
K K Dharni Appointed Actuary
Snehil Gambhir Sr. Vice President, Transformation & Services
Rajiv Sehgal Chief Information Officer & Sr, Vice President, IT
Vijayalakshmi
Natarajan
Senior Vice President, Operations
Fact Sheet
• JV partner: Dabur (74% stake)
• Foreign partner: Aviva plc (26% stake). One of the world's top
Insurance groups and the biggest in the UK. It is one of the leading
providers of life and pensions products to Europe. Aviva has a 50
million-customer base worldwide with £352 billion assets under
management.
• Managing Director & Chief Executive Officer: Mr. TR
Ramachandran
• Paid up Capital: Rs 1,888 crores
• Locations: 195 branches, close to 3,000 locations
• Bank partners: ABN Amro Bank, The Lakshmi Vilas Bank Ltd,
Punjab & Sind Bank, IndusInd Bank, Bank of Rajasthan and more
than 30 Cooperative Banks and Regional Rural Banks
Awards and Recognition
We believe that our employees are our greatest strength and the only asset
that can be replicated. It is the passion of our people which continues to
help us achieve the 'impossible' and make Aviva India great place to work.
• Aviva has been felicitated with the "Bronze Award for Excellence in
People Management" by Grow Talent Company Limited and
Businessworld. This honour was given based on our ranking amonst

11. the top 25 companies as per the Grate Place to Work survery in the
last four years.
• Aviva was ranked 4th in the Best Workplaces in India study for the
year 2008 by the Great Place to Work Institute. We were the only
Insurance Company in the top 10 ranking that year.
• Aviva India won the coveted Award for Talent Management during
the national round of Asia Pacific HRM Congress
• Aviva India was also felicitated by the HR Excellence Award by
Amity Business School
Programme highlights of today -
• Aviva Life Insurance India has 40 Branches in India, including rural
branches supporting its distribution network. With over 30,000
Financial Planning Advisers (FPAs) and the Financial Health Check
(FHC) programme it has been successful in setting up its position in
the Indian market. The FHC is a free service administered by the
FPAs which analyses the customer's long-term savings and insurance
needs and depending on the life stage and earnings of the customer it
selects the proper insurance product for them.
• Aviva Life Insurance India initiated the concept of Bancassurance in
India and at present it has Bancassurance tie-ups with ABN Amro
Bank, American Express Bank, Canara Bank, Centurion Bank of
Punjab, The Lakshmi Vilas Bank Ltd. and Punjab & Sind Bank, 11
Co-operative Banks in Gujarat, Rajasthan, Jammu & Kashmir,
Bihar, West Bengal, Andhra Pradesh and Maharashtra and one
regional Bank in Sikkim. This has helped to distribute Aviva products
in nearly 378 towns and cities across India.
• Aviva Life Insurance India offers more modern Unit Linked and
Unitized with Profit money products to the customers. Following the
IRDA guidelines, with effect from 1 July 2006, these units - linked
products have been modified.
The products of Aviva insurance group of India are:
• Lifelong
• Lifesaver or Easy Life Plus
• Young Achiever
• Life Bond and Life Bond Plus

12. • Pension Plus
• Life Shield
• Freedom Life Plan
• LifeBond5
• The fund management operations of Aviva Life Insurance India is
controlled from Mumbai and the fund options includes Unitized
With-Profits Fund and four Unit Linked funds:
• Protector Fund - The fund comprises of debt securities in the range
of 60-100%, equities in the range of 0-20% and money market and
cash in the range of 0-20%.
• Secure Fund - The fund comprises of debt securities in the range of
50-100%, equities in the range of 0-20% and money market and cash
in the range of 0-20%.
• Balanced Fund - The fund comprises of debt securities in the range
of 50-90%, equities in the range of 0-45% and money market and
cash in the range of 0-10%.
• Growth Fund - The fund will comprise of debt securities in the range
of 0-50%, equities in the range of 0-85% and money market and cash
in the range of 0-20%.
These funds provides investment security to the capital of the customers.
Through their association with Basix (a micro financial institution) and
other NGOs, Aviva Life Insurance India have been able to reach out to
those underprivileged who had no access to insurances till day.
In Aviva Life Insurance India, thus, by combining protection and long term
savings the customers can safeguard and provide life products for their
family with their changing needs.
• Insurance Company
• Insurance companies
• Insurance Finance
• Top Insurance Companies
• Insurance News
What is Life Insurance?

13. A policy that will pay a specified sum to beneficiaries upon the death of the
insured.
OR
An agreement that guarantees the payment of a stated amount of monetary
benefits upon the death of the insured.
Why Insurance?
Insurance is the protection of life and assets against unforeseen
circumstance. Whether it is a general accident policy, a Mediclaim policy
or a pension policy, an insurance policy helps you to scope with uncertainty
and insecurity.
Ever thought about why you should take an insurance policy. For one, it
helps you to hedge risks against unforeseen circumstances and save more.
If that's not all, it is:
• Superior to an ordinary savings plan as it provides full protection
against risk of death.
• Encourages and forces compulsory savings unlike others saving
instruments, wherein the saved money can be easily withdrawn.
• Provides loan to tie over a temporary difficult phase and is also
acceptable as security for a commercial loan.
• Offers tax relief to policyholders.
• Hedges risk against uncertainty.
• For a policy taken under the MWP Act 1874, (Married Women's
Property Act), a trust is created for wife and children as beneficiaries.

14. • Based on the concept of sharing of losses, the society will benefit as
catastrophic losses are spread globally.
Who can buy a life insurance policy?
Any person above 18 years of age, who is eligible to enter into a valid
contract, can go for an insurance policy. Subject to certain conditions, a
policy can be taken on the life of a spouse or children.
How is a life insurance policy useful?
Planning for the financial consequences of a premature death is an
essential part of every financial plan. Generally, the consequences are
simply too large to ignore and cannot be totally covered with your own
resources.
Life insurance is nothing but a contract with an insurance company under
which the insured (purchaser) pays a premium in exchange for coverage of
specified losses. Life insurance protects your family against the risk of the
premature death of you (or your spouse). Life insurance planning should
consider your family's short-term needs (for example, medical expenses)
and long-term needs (for example, replacing your income).
In the course of our life we are accosted by risk-that of failing health,
financial losses, accidents and so on. Insurance is a means by which life's
uncertainties are addressed in financial terms. It offers a monetary
compensation against those losses. Insurance is considered more as a
hedging mechanism rather than a true investment avenue. Life insurance, in
particular is essentially acknowledged as a mechanism that eliminates risk-

15. substituting certainty for uncertainty primarily by transferring risk from the
insured to the insurer.
Is life insurance a saving instrument?
Life insurance is mainly considered as a saving instrument rather than an
investment avenue as it promotes compulsory savings besides reducing tax
burden on the policyholder and protects the family of the policyholder in
the event of unforeseen happening. It is the only saving instrument, which
covers the life risk besides giving tax concession both at entry (premium
paid) and at exit points. The section 10 (D) of the income tax act totally
exempts payment of tax on any amount received as bonus against life
insurance policies.
What is a contract of insurance?
A contract of insurance is a contract of utmost good faith, technically
known as uberrima fides. The doctrine of disclosing all material facts is
embodied in this important principal that applies to all forms of insurance.
The purpose, who is one of the parties to the contract, is presumed to have
means of knowledge that are not accessible to the corporation who is the
other party to the contract. Therefore, the purpose is bound to tell the
insurer everything affecting the judgment of the insurer. In all the
contracts of insurance the proposes is bound to make full disclosure of all
material facts and not merely, those which he thinks material
Misrepresentation non-disclosure or fraud in any document leading to the
acceptance of the risk automatically discharges the corporation from all
liability under the contract. Although Section 45 of the Insurance Act,
1938 provides that no policy can be called in question after a period of two
years from the date of its issue on the ground that any statement in
proposal or a related document was false or inaccurate (making the policy
indisputable), This provision is not applicable if the corporation can prove
that misrepresentation or non- disclosure was on a material fact and was
fraudulently made and that the policyholder knew at the time that
statement he made was false. It is, therefore, in the interest of the would be

16. policyholder to disclose all the material facts to the corporation to avoid
any complication when the claim arises. It is equally obligatory on an
agent to see that the assured doesn't obtain the contract by means of untrue
representation or concealment in any respect. It is the duty that the agent
owes both to his client and to the corporation.
• Classification of insurance business:
• The insurance is broadly classified as:
1.Life insurance business
2. Non-life insurance business
• Life insurance business:
• It is the business of effecting contracts of insurances upon human
life including any
• contract whereby the payment of money is assured on death or on
the happening of any
• 10
• Involve all people working in the Corporation to the best of their
capability in furthering
• The interests of the insured public by providing efficient service
with courtesy.
• Promote amongst all agents and employees of the Corporation a
sense of participation, pride and job satisfaction through discharge
of their duties with ded1cat1on towards achievement of Corporate
Objective.
OBJECTIVES OF THE STUDY
• The basic objectives of my project was basically aimed at helping the
reliance life insurance in increasing its advisor/agent base by

17. targeting the people who had large social and professional circle. My
objectives are divided into two categories are: -
MAIN OBJECTIVE
Recruitment of the agents (life insurance advisors) for the company.
SUB OBJECTIVE
1) To look for all segments of the people with good profile who are willing
to act as an advisor for the companies.
2) Providing company with the suggestions in respect to Improvement in
the recruitment methods and Making recruitment convenient for the
company.
NEED FOR INSURANCE:
Life Insurance
Why do you need Life Insurance?
Life is full of uncertainties & you can’t really presume that your future is
devoid of risks, so to be safe one has to get himself insured so that his
dependents are offered with financial help in any unforeseen event.
Life Insurance caters to your following requirements:
• Financial Security to your family
• Investment & saving options
• Protection of your home mortgage

18. • saving options for Retirement through Pension plans
• saving options for Children through Children Insurance Plans
Cash and income needs on an immediately following death.
Family income needs.
Income needs of a widow on the death of her husband.
Cash and income needs of a husband on the death of his wife.
Retirement income needs.
Education needs.
Business needs
Need for insurance:
INSURANCE NEEDS AT DIFFERENT STAGES OF
LIFE
Insurance needs change as per the life, from starting to work to enjoying
one’s golden years and all the stages in between. Each one of these stages
may pose a different insurance need/cover for a person.

19. Fig. 1: A Diagram depicting different stages in a Human Life.
1. Young and Single
An important stage, where one lays down the foundation of a successful life
ahead. One should take advantage of the time and power of compounding to
ensure that one can build up his dreams. So one should start saving early.
2. Just Married
Marriage brings about a significant change. New dreams and new
opportunities also bring in additional responsibilities. While both the
spouses look forward to a happy and secure life, it is equally important to
ensure that eventualities don’t come in the way of shaping their dreams.
3. Proud Parents
Once a person has children, his need for life insurance is even more. He
needs to protect his family from an untoward incident. He should ensure his

20. protection umbrella takes into account the future cost of securing the child’s
dream by having enough life insurance.
4. Planning for Retirement
While one is busy climbing the ladder of success today, it is important for
him to take time and plan for the life after retirement. Having an early start
for retirement planning can make a significant difference to the savings.
Unfortunately, Life Insurance is probably the least favorite thing to plan for.
And, as a result, adequate planning is often put off until it's too late.
Although it may sound simple, there are many things to consider. There are
many ways to protect one’s family with life insurance.
Suppose for example a person dies at an early age, Life insurance can
provide a surviving spouse, children, and other dependents with the funds
necessary to maintain their standards of living, can help repay debt, and
can fund education tuition costs. The amount one needs depends on one’s
situation.
In this way, Life Insurance provides two-fold advantage, the first in the
form of small savings and the other in the form of security in the event of
premature death. Thus, a life insurance is a combination of savings as well
as security. By taking a suitable life insurance policy one feels a sense of
security. He is assured that insurance company will come to the rescue of
his family in case of his pre-mature death. If there is no claim and the
policy matures for payment, the savings so made will be sufficient to meet
the old age expenses. In India, Life insurance Corporation transacts the life

21. insurance business. Personal accident and sickness insurance cover the risk
of death due to accident and also pay compensation for self-injury and
sickness.
THE PRODUCT MIX
1. Young scholar plan
Aviva New Young Scholar is a comprehensive plan that enables you to
secure your child’s future in any eventuality through:
 Attractive returns, enhanced by loyalty additions every year starting
end of 5th year and maturity addition to build the desired corpus of funds
on maturity of the policy
 All future premiums being waived off and invested as a lump sum
amount in to the funds, so the policy continues even in the unfortunate
event of the parent’s death, disability or on contracting a critical illness,
while the Sum Assured is paid out immediately
 Provision of a regular income for the minor child, in the event of
parent’s death
 Systematic Transfer Plan (STP) for safe entry and safer exit into
equities
 Option to minimize the effect of inflation through Indexation
2. Aviva Health Plus:
Most of the health policies that you see, offer financial backing only for
medical emergencies. But in a case where a medical emergency does not
arise at all, most of the policies do not offer any maturity benefits. There,

22. the Aviva Health Plus stands out as a different health plan since it gives you
a guaranteed maturity benefit.
A Double Bonanza with health
Aviva Health Plus is a combination of a health and savings plan that insures
you securely against death and ill health. In the event of your unfortunate
death, your nominee is provided with an assured life cover. The policy will
be terminated after the death benefits are paid.
The health benefit offers you the provision of being protected against 18
critical illnesses. If you are able to claim all the health benefits you are
eligible to get from this policy you can get a combined health benefit of at
least twenty one lakhs. Even after the period of health benefits are over,
you will get an extended period of 5 more years as extended death and
disability cover.
In addition to these benefits, you will also get a maturity benefit on the date
of maturity even though all your health benefits have been claimed by you.
The maturity benefit you get depends on your age to entry to the policy.
The various health benefits that are available to you through this policy are
Accidental Death and Disability benefit, Sickness – only total Permanent
Disability, Critical Illness Benefit, Surgical Cash Benefit, and Hospital
Cash Benefit. All these are riders which you have to opt for at the time of
taking the policy. Only then you can avail of their benefits.
Tax benefits in this policy can be got under the laws pertaining to the
Income Tax Act, 1961.
For those of you having to look out for more health benefits, this is the
policy that you should take. ‘Health is wealth’ as the saying goes; if one is
healthy wealth automatically finds its way into the house. So join Aviva’s
Wealth Plus and benefit from it.

23. 3.Aviva India Child Plan:
Aviva India is one of the most popular insurance company in India. You
name any kind of insurance plans, Aviva India will surely help you in your
insurance needs.
There are various Aviva India Child Plan that any one can go for. But
before you go for any Aviva India Child Plan, you must check the company
profile and the history of the return and services.
Insurance is a subject matter of solicitation so when you buy any Child Plan
from Aviva India, you must read all the documents carefully and once you
are sure, then only sign the document. Aviva India Child Plan will surely
help you in your insurance requirement.
We believe that every one should go for Aviva India Child Plan, to protect
their future from any mis happening.
4. Aviva India Retirement Plan:
Aviva India is one of the most popular insurance company in India. You
name any kind of insurance plans. Aviva India will surely help you in your
insurance needs.
There are various Aviva India Retirement Plan that any one can go for. But
before you go for any Aviva India Retirement Plan, you must check the
company profile and the history of the return and services.
Insurance is a subject matter of solicitation so when you buy any
Retirement Plan from Aviva India, you must read all the documents
carefully and once you are sure, then only sign the document. Aviva India
Retirement Plan will surely help you in your insurance requirement.

24. We believe that every one should go for Aviva India Retirement Plan, to
protect their future from any mis happening.
Aviva India Savings Plan:
Aviva India is one of the most popular insurance company in India. You
know about any kind of insurance plans, Aviva India will surely help you in
your insurance needs.
There are various Aviva India Savings Plan that any one can go for. But
before you go for any Aviva India Savings Plan, you must check the
company profile and the history of the return and services.
Insurance is a subject matter of solicitation so when you buy any Savings
Plan from Aviva India, you must read all the documents carefully and once
you are sure, then only sign the document. Aviva India Savings Plan will
surely help you in your insurance requirement.
We believe that everyone should go for Aviva India Savings Plan, to protect
their future from any mis happening.
Aviva India Protection Plan:
Aviva India is one of the most popular insurance company in India. You
name any kind of insurance plans; Aviva India will surely help you in your
insurance needs.

25. There are various Aviva India Protection Plan that anyone can go for. But
before you go for any Aviva India Protection Plan, you must check the
company profile and the history of the return and services.
Insurance is a subject matter of solicitation so when you buy any Protection
Plan from Aviva India, you must read all the documents carefully and once
you are sure, then only sign the document. Aviva India Protection Plan will
surely help you in your insurance requirement.
We believe that every one should go for Aviva India Protection Plan, to
protect their future from any mis happening.
Aviva India Polices
» Aviva Health Plus » Aviva Life Shield Plus
» Aviva Dhan
Vriddhi
» Aviva Little Master » Aviva Pension Elite » Aviva Save Guard
» Aviva Wealth Plus
» Aviva Young Scholar
plan
» Riders
» Aviva Life Saver
plus
» Aviva LifeLong » Aviva LifeSaver
Aviva India Protection Plan
» Aviva Life Shield Plus » Riders » Aviva LifeShield

26. ‘Aviva Street to School’ – Recognizing ‘Education is Insurance’
Education is pivotal to human progress. It is the main tool that empowers
individuals to make informed choices. Every child has the right to basic
education so that their future is built on a strong foundation; enabling them
to free themselves from the vicious circle of ignorance, poverty and disease.
At Aviva, we recognize that education is insurance for a better future. In
line with this thought, ‘Aviva Street to School’, our new, international
charity partnership programme, aims to improve the lives of thousands of
street children and young people around the world by helping them off the
streets and into education and training.
Children living and working on the streets is a global issue. Aviva Street to
School is about ‘recognising that Education is Insurance’ – not only doing
the right thing, but also standing by our brand promise and improving the
lives of young people and helping them develop their full potential.
In India, we have partnered with CRY’ (Child Rights and You) and ‘Save
the Children’ to facilitate education (including other related factors that
could prevent a child from attending school) for over 50,000 children by
2012. In the first year, Aviva will be reaching out to 20,000 children across
9 projects in 5 states.
We seek to better the lives of underprivileged children and thereby
contribute towards building a brighter future for the country.
Aviva Great Wall of Education

27. The Aviva Great Wall of Education, a book donation drive, presented by
Hindustan Times, for the underprivileged children supported by Save the
Children India, culminated into a book distribution ceremony on November
16, 2009. Honourable Union Human Resource Development Minister of
India, Shri Kapil Sibal, along with Mr TR Ramachandran, CEO& MD,
Aviva India and Mr. Sanjoy Narayan, Editor-in-Chief, Hindustan
Times presented 92,300 books to Mr. Thomas Chandy, CEO, Save the
Children, India. The event was well attended by close to 200 children from
select schools across Delhi, who had participated in the donation drive.
As part of Aviva’s Street to School program, the books from the wall will
be used to educate thousands of underprivileged children with Save the
Children India, a leading independent organisation working to ensure the
rights of children in India.
TR Ramachandran, CEO & MD, Aviva India, said, "We are greatly
humbled with the astounding success of the ‘Aviva Great Wall of
Education’ and are truly grateful to the people of Delhi who offered their
undeterred patronage towards this noble cause. This is indeed a significant
stepping stone towards building a brighter future for the underprivileged
children by helping them into education."
Sanjoy Narayan, Editor-in-Chief, Hindustan Times said, "As a responsible
newspaper, we are committed to improving awareness and the level of
education in society. The ‘Book Wall’ is an excellent way to reach out to
underprivileged children by making books that they would have otherwise
not been able to read accessible to them. It also provides an opportunity to
more privileged children to do their bit for society."
Thomas Chandy, CEO, Save the Children, said, “This is a great initiative
that Aviva has undertaken which will translate into hundreds of children
from the most marginalized communities having a chance at education.
Providing education to the poorest child from the poorest community is the
best way of ensuring that the child has access to life opportunities that she
otherwise may not have. People have been calling us every day, publishers,
institutions, individuals, offering to give us books. Aviva has indeed
triggered a truly noble humanitarian initiative.

28. The five day donation drive was flagged off on Nov 11, National Education
Day by the Honourable Minister of Education(Delhi) Shri Arvinder Singh
Lovely. The drive was activated across Delhi and NCR region through drop
boxes placed at schools, corporate and residential apartments. Children
from 300 schools actively donated their old text books, note books towards
the cause. Many individuals have also come forward and donated books for
the underprivileged children. Scholastic Publishing House has also come
forward in support of the cause by donating 10,000 books towards this
initiative.
The ‘Aviva Great Wall of Education’ marks another step by Aviva, towards
helping underprivileged children into education. Aviva Life Insurance has
partnered with CRY’ (Child Rights and You) and ‘Save the Children’ to
facilitate education (including other related factors that could prevent a child
from attending school) for over 50,000 children by 2012 under the Street to
School initiative. In the first year, Aviva will be reaching out to 20,000
children. across 9 projects in 5 states

30. The Insurance Players…
- HDFC Standard Life Insurance Company Limited
- Aviva Life Insurance Company Limited
- Birla Sun Life Insurance Company Limited
-TATA AIG Life Insurance Company Limited
– Max New York Life Insurance Company Limited
– Kotak Mahindra Old Mutual Life Insurance Limited
– SBI – Cardiff Life Insurance Company Limited
– ING Vysya Life Insurance Company Limited
– Bajaj Allianz Life Insurance Company Limited
– ICICI Prudential Life Insurance Company Limited
– MetLife Life Insurance Company Limited
– Reliance Life Insurance Company Limited
– Sahara India Life Insurance Limited
– Shriram Life Insurance Company Limited
DIRECT COMPETITORS
Life Insurance Corporation of India (LIC)
The Life Insurance Corporation (LIC) was established about 44 years ago
with a view to provide an insurance cover against various risks in life. A
monolith then, the corporation, enjoyed a monopoly status and became
synonymous with life insurance.
Its main asset is its staff strength of 1.24 lakh employees and 2,048
branches and over six-lakh agent force all over India.

31. At the industry level, along with the Government and the GIC, it has helped
establish the National Insurance Academy. It presently transacts individual
life insurance businesses, group insurance businesses, social security
schemes and pensions, grants housing loans through its subsidiary; and
markets savings and investment products through its mutual fund. It pays
off about Rs 6,000 crore annually to 5.6 million policyholders.
Training activities for agents/advisors.
• As per IRDA, 50 hrs training is compulsory for 17 days.
• Only classroom training is available.
• Only full-time training is given.
(Reliance advantage: - Part time option available.)
Commission Structure.
Depends on the plan or the product / policy Term which the advisor sells
to the customer. Every policy has a commission amount fixed on it as per
specifications of IRDA.
Modes & ways through which the company recruits agents.
- Through development officers.
- Through corporate agencies (Bankers and Brokers).
- Carrier agent branch (i) rural carrier agent
(ii) Urban carrier agent.

32. Current agent force
25000 agents in Delhi
Top 5 USP’s (Unique Selling Proposition) Of LIC
- TRUST (since 1956), ORG marks survey has rated LIC most trusted
branch in life insurance
• Having a vast network of 2050 branches and over 6 lakh agents.
• Best claim performance in the world by Depth and Maturity claim.
• A government-undertaken company ensuring safe and corruption free
insurance.
• Variety of plans available to match the customer’s needs.

33. HDFC - Standard Life
HDFC Standard Life Insurance Company is a joint venture between India's
largest housing finance provider, HDFC and Europe's largest mutual life
assurance company The Standard Life Assurance Company (U. K).
Standard Life, UK, founded in 1825, has been at the forefront of the UK
insurance industry for 175 years by combining sound financial judgment
with integrity and reliability.
It is the Largest Mutual Life company in Europe and has total assets of Rs.
5,50,000 crore.
Training activities for agents/advisors.
• As per IRDA guidelines, 100hrs training is compulsory.
• Both online & classroom training are available.
• Training is compulsory with both part-time & full time Options.
• A clear exam is conducted by IRDA, the minimum qualification
required is-
12th pass for urban areas

34. 10th pass for rural areas.
Commission Structure.
Depends on the product, like on savings
20-40% 1st year premium.
Modes & ways through which the company recruits agents.
• Direct contacts.
• Newspaper adds.
• Consultants.
• Member of the company can introduce a new member.
Current agent force
200-300 in Delhi.

35. Top 5 USP’s (Unique Selling Proposition) Of HDFC Std.Life
• Best insurer according to Outlook.
• Well supported by foreign 1st private sector life insurance Company
to be granted a license.
• Declared bonus every year from the day of incorporation (only
company.)
• Provides fast service to the customers in terms of claim.
• Partner Standard Life, U.K which was recently voted ' company of
the decade' in U.K by the Independent Brokers called IFAs.

36. Max New York Life.
Max India:
 Max India Limited is a multi-business corporation that has business
interests in telecom services, bulk pharmaceuticals, electronic
components and specialty products. It is also the service-oriented
businesses of healthcare, life insurance and information technology.
New York Life:
 New York Life has grown to be a Fortune 100 company and an expert in
life insurance. It was the first insurance company to offer cash dividends
to policy owners.
 In 1894, New York Life pioneered the then unheard-of concept of
insuring women at the same rate as men. Thereafter, it continued to
introduce a series of firsts - a disability benefit clause in 1920,

37. unemployment insurance in 1992, and complete customer care on the
Web in 1998.
 Today New York Life has over US billion in assets under management
and over 30,000 agents and employees worldwide. The October 2000
Fortune
 Survey named New York Life amongst the top three most admired life
and health insurance companies worldwide.
Training activities for agents/advisors.
• As per IRDA, 100hrs training is compulsory.
• Only classroom training is available.
• Only fulltime training is given.
• (Reliance advantage: - Part time option available.)

38. Commission Structure.
• Minimum - 2%
• Maximum - 35%.
Varies from product to product- 25%, 7.5%, 10% & 15%.
Modes & ways through which the company recruits agents.
• Reference (only)
Max New York life recruits agents only on basis of reference.
Current agent force
2000-3000 in Delhi.

39. Top 5 USP’s (Unique Selling Proposition) Of Max New York
• Training, which is compulsory for every agent/advisor so that they
work according to the company’s working style.
• Emphasizes on whole life products.
• Flexibility of the product to adapt to customers changing needs in
future.
• Believes in healthy competition with other life insurance companies.
• Agent is the power.
Birla Sun Life Insurance Company Limited
 Birla Sun Life Insurance is the coming together of the Aditya Birla
group and Sun Life Financial of Canada to enter the Indian insurance
sector.

40.  The Aditya Birla Group, a multinational conglomerate has over 75
business units in India and overseas with operations in Canada, USA,
UK, Thailand, Indonesia, Philippines, Malaysia and Egypt to name a
few.
Foreign Partner:
 Sun Life Assurance, Sun Life Financials primary insurance business,
has excellent ratings with the world's top rating agencies.
 With assets under management as on September 30, 2000 totaling
more than CDN billion, it ranks amongst the largest international
financial services organizations in the world.
Training activities for agents/advisors.
• As per IRDA, 100hrs training is compulsory.
• Both online & classroom training are available:
• Classroom training is 100hrs (13 days) or 50 hrs (7 days)- C.A, Dr,
Advocate & MBA.
• Online training is for
 100hrs- general
 50hrs- CA/Dr/Advocate/MBA.
 25hrs (3 days) - Renewal.
• Both part time & full time training option is available.

41. Modes & ways through which the company recruits agents.
• Interviews & written exam.
• Newspaper adds.
Current agent force
750 agents in Delhi.
Top 5 USP’s (Unique Selling Proposition) Of Birla Sun Life
• Trusted name, as a part of Aditya Birla group.
• India’s second largest business house.
• Multinational company, which is growing rapidly.
• Having second position in private life insurance.
• Offers different plans with ethical and good claim settlement.

42. Methodology Used
The basic aim of the company in providing us with this assignment was
to find out the people’s perception of their brand in the market and via
this increasing their advisor base by encashing on their brand name.
1) Hence, our sales pitch in recruiting the good profile advisor
was based on:
Money:
For those who are needy, greedy and speedy
Excellent back end support, attractive payments and
benefits and
Extensive training for that edge over competition
Reward and Recognition
For those who want to be recognized and honored
Several programs including foreign trips, seminars etc.
Selected club memberships, rare privilege Club,
Achievements rewarded with trophies and certificates as
well with Point rewards to give you a flying start.

43. Carrier Prospects
For people who want to climb the success ladder fast.
Can become sales manager or business associate
RECRUITMENT PROCESS OF ADVISORS
Who is an insurance agent?
An agent is the representative of an insurance company who sells different
policies or product to its clients.
Another term used for insurance agents is advisors
Today in life insurance companies’ advisors are known to be the backbone
of the whole system. Advisors/agents do not work on monthly payroll basis;
they receive a certain commission on the policies they sell to the clients.
The eligibility required to become an advisor/agent is that he/she should be
12th pass to operate in urban area and 10th pass for rural areas. Before a

44. person becomes an advisor/agent he/she has to undergo 100hrs training
according to IRDA norms, which is compulsory.
A person who wants to be an advisor has first to fill a recruitment form and
has to pay a fee of Rs. 750/- in favor of Aviva. Then, he has to pass a test,
which is compiled by IRDA. After he gets through that test he is awarded a
license and then his training starts in the company regarding the insurance
business. Reliance provides this training in 3 modes as per the suitability of
the advisors viz: -
1) Classroom training: - it is a Full Time Training with a period of 17
days regular between 9 am to 5pm at the training centers allotted to
the advisor.
2) Online training: - it is another mode of training where the company
provides CD’S and books to the advisor for his own study.
3) Classroom training: - it is a Part Time Training with a period of 36
days regular between 5 pm to 8 pm at the training center only.
Advisor Role.
To provide ongoing financial advice for his/her clients:
• Identify future clients

45. • Making appointments
• Conduct financial review meetings with prospects/clients.
• Close sales
• Get referrals
• Provide service to clients.
• Follows internal sales and reporting system.
Working Environment of an advisor/agent.
• To be a part of world-class sales team.
• Work from your own office or residence.
• Work full time or part time (an advisor can work part time by
undergoing only 50hrs of training and 100hrs training is for full
time advisors.)
• Earn Commission, Bonus & Incentives.
• No upper limits on earnings.
• Flexible career.

46. Opportunities for an Advisor/agent.
• No startup capital required.
• Flexible working environment.
• Be your own boss.
• Unlimited earning potential.
• To be a part of a world-class team.
Commission Structure.
Different products will have different commission structures.
For example: Single Premium products will have a commission of 2%.
• Renewal Commission is paid at the following rates:
2nd yr: 7.5% 3rd yr: 7.5% 4th yr: 5% 5th yr: 5% onward1

47. Payments & benefits-commission Structure for
advisors/agents.
Year 1 Year 2 Year 3
Number of Policies Sold 50 75 100
Average Premium Rs. 10000 10000 10000
Total Premium Earned Rs. 500000 750000 1000000
Commission @ 25% 125000 187500 250000
Bonus @ 40% of Commission 50000 75000 100000
Earnings from New Business Rs. 175000 262500 350000
Commission on Renewal Premium@7.5% 37500 56250
For year 2, 3, and 5% after that 37500
Earnings from renewal business Rs. 37500 93750
Total Earnings Rs. 175000 300000 443750
Most preferred profiles to recruit as Advisors/agents.
• Housewives
• Income Tax Consultant
• Chartered Accountant
• Sales Personnel’s working in

48.  Automobile Dealership
 Credit Card Co.
 Telecom
 Mutual Fund
• DSA’s
• M R’s
• Doctors
• Teachers
• VRS Holders
• Advisors of other insurance companies
• Post Office Agents
• Business Men
• Accountants
• COI in an organization
• Stock Brokers
How does an advisor/agent work.

49. • Firstly an advisor/agent has to make a list of 100 people that he/she
knows.
• Then the Advisor/agent makes a call to these clients and tries to fix
an appointment.
• When an appointment is fixed the advisor/agent meets the customer
& tries to sell the product.
• After that the advisor/agent asks for the reference of maximum
number of people from the client.
• The reference is asked in context to make future calls and the whole
procedure is repeated again.

50. ANALYSIS AND FINDINGS
1. AGE-WISE REPRESENTATION OF RESPONDENTS
The maximum number of respondents lied in the age group of 30-40 yrs
of age, which was 38% of the total sample.
Category Percentage Of Respondents
Under 20 yrs 4%
20-30 28%
30-40 38%
40-50 22%
50-60 8%
Over 60 yrs 0

51. 4%
28%
38%
22%
8%
0
0%
5%
10%
15%
20%
25%
30%
35%
40%
Under 20
yrs
20-30 30-40 40-50 50-60 Over 60
yrs
Division as per Age (in yrs)
Age
(Source: Survey)
2. GENDER-WISE REPRESENTATION OF RESPONDENTS
The number of males in the respondents constituted 84%, and the number of
females constituted 16% of the total number of respondents.
Category Percentage of Respondents
Male 86
Female 16
Graph No. 1

52. (Source: Survey)
Division as per Gender
Male
84%
Female
16%
Male
Female
3. OCCUPATION-WISE REPRESENTATION OF RESPONDENTS
Maximum number of respondents, which was 36%, belonged to the category of people involved in
Business.
Category Percentage of Respondents
Business 36%
Salaried 34%
Profession 10%
Graph No. 2

53. Housewife 8%
Student 8%
Retired 4%
Others 0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Division as per Occupation
Business
Salaried
Profession
Housewife
Student
Retired
Others
(Source: Survey)
4. PROPORTION OF RESPONDENTS AS PER THEIR MARITAL
STATUS.
A large number of respondents who buy insurance plans are married and
they made up to 72% of the total sample surveyed.
Category Percentage of Respondents
Married 72%
Graph No. 3

54. Single 28%
Division as per Marital Status
Married
72%
Single
28%
Married
Single
(Source: Survey)
5. INCOME-WISE REPRESENTATION OF
RESPONDENTS
A major portion of the respondents were in the income group of Urban
Higher Middle, which constituted 52%, followed by the income group of
Urban Middle of 32%.
Graph No. 4

55. Category Percentage of Respondents
Rural Poor 0%
Urban Poor 0%
Urban lower 0%
Urban Middle 32%
Urban Higher middle 52%
Urban Rich 16%
Division as per Income Group
Urban Middle,
32%
Urban Higher
Middle, 52%
Urban Rich,
16%
Urban Middle
Urban Higher Middle
Urban Rich
(Source: Survey)
Graph No. 5

56. 6. REPRESENTATION AS PER THE NO. OF DEPENDENTS
OF RESPONDENTS.
The number of dependents on the respondents was highest in the range
of 3 to 5 dependents.
Family Profile of Respondents as per their No. of
Dependents
16%
60%
24%
0%
0%
10%
20%
30%
40%
50%
60%
70%
Less Than 3 From 3 - 5 More Than 5 None
(Source: Survey)
7. DIVISION OF RESPONDENTS BASED ON, WHETHER THEY
HAVE AN INSURANCE POLICY OR NOT.
All the hundred respondents whom I questioned for my research work, the
level of insured people was found to be ninety two percent i.e. 88
respondents were insured either with LAT or with some other company.
Category Percentage of Respondents
Insured 88
Graph No. 6

57. Not Insured 12
8. DIVISION OF THE POLICYHOLDERS ON THE BASIS OF THE
TYPE OF INSURANCE PLAN THEY HAVE TAKEN. (ULIP OR
TRADITIONAL)
A huge number of the respondents who had taken insurance policies,
there was 64% of unit linked insurance products out of those and the rest
were traditional products.
Divisionof policyholdera on the basis of insurance plan
64
16
0
12
8
0
10
20
30
40
50
60
70
Ulip
Endowment
Money Back
Whole Life
Term
Graph No. 7

58. Ratio of Ulip to Traditional Plans
Ulip
64%
Traditional
36% Ulip
Traditional
(Source: Survey)
9. PROPORTION OF THE OTHER MEANS OF SAVINGS OF THE
RESPONDENTS IN ADDITION TO INSURANCE.
The respondents in the questionnaire could mark more than one option of
their other means of savings apart from insurance. Therefore the results
shown in the graph is more than the actual number of respondents i.e.
hundred.
Category No. Of Respondents
Fixed Deposits 20
Savings Bank a/c 22
Provident Fund 14
Equity 8
Mutual Funds 24
Any Other 12
Graph No. 8

59. Ratio of other means of Savings of the respondents
Fixed Deposits, 20
Savings Bank, 22
Provident Fund, 14
Equity, 8
Mutual Funds , 24
Any Other, 12
Fixed Deposits
Savings Bank
Provident Fund
Equity
Mutual Funds
Any Other
(Source: Survey)
10. DIVISION OF THE RESPONDENTS ON THE BASIS OF THEIR
AWARENESS ABOUT LAT INSURANCE CO.
All the hundred respondents whom I questioned for my research work, the
awareness about LAT was found to be hundred percent i.e. all the
respondents were well informed about the presence of LAT GIAin the
market, whether they are policyholders of LAT GIAor not.
11. DIVISION OF SOURCES OF AWARENESS OF LAT TO THE
RESPONDENTS.
The respondents in the questionnaire could mark more than one option of
their source of information about LAT. Therefore the results shown in the
graph is more than the actual number of respondents i.e. hundred.
Graph No. 9

60. Company Awareness from Various Sources
Company
Representative, 22
Friend/Relative, 18
Newspaper/magazi
ne, 24
Telemedia, 16
Internet, 4
Hoardings, 17
Company Representative
Friend/Relative
Newspaper/magazine
Telemedia
Internet
Hoardings
(Source: Survey)
12. PERCENTAGE BREAK-UP OF RESPONDENTS SURVEYED.
The total number of respondents insured with LAT GIA was 52 out of
hundred, which was approximately half of the total sample size. Out of the
rest 48, 36 were insured with other insurance companies and 12 did not
have any type of insurance.
Category Percentage of Respondents
Insured with LAT GIA 52%
Insured with Other Companies 36%
Not Insured 12%
Graph No. 10

61. Respondents Insured with LAT
Pie 1, LAT, 52%Pie 1, Other
Companies,
36%
Pie 1, Not
Insured, 12%
LAT Other Companies Not Insured
(Source: Survey)
13. PERCENTAGE BREAK-UP OF ULIP AND TRADITIONAL PLANS
OF RESPONDENTS WHO ARE POLICYHOLDERS OF LAT.
Graph No. 11

62. Percentage Breakup of Plans Of the LAT customers
84%
10%
4% 2% 0%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Ulip
Endow
m
ent
W
hole
Life
Term
M
oney
Back
Series 1
(Source: Survey)
14. THE RATING GIVEN BY THE RESPONDENTS ON A SCALE OF
1-5 ON THE FOLLOWING FEATURES, WITH RESPECT TO THEIR
CURRENT INSURANCE PLAN.
64%
10%
26%
0%
10%
20%
30%
40%
50%
60%
70%
Product attributes Services Provided Your Satisfaction
Series1
(Source: Survey)
15. DIVISION OF RESPONDENTS BASED ON THEIR INSURANCE
NEED.
Graph No. 12
Graph No. 13

63. The respondents in the questionnaire could mark more than one option for
their insurance need with respect to their current insurance plan. Therefore
the results shown in the graph is more than the actual number of
respondents i.e. hundred.
Category No. of Respondents
Security 30
Tax Planning 40
Investment 36
Spouse/Children 10
Expenses 4
(Source: Survey)
Security, 30
Tax Planning,
40
Investment, 36
Spouse/Children
, 10
Expenses, 4
0
5
10
15
20
25
30
35
40
45
Graph No. 14

64. 16. REPRESENTATION OF THE AMOUNT WHICH THE
RESPONDENTS CAN SPARE MONTHLY FOR THEIR INSURANCE
NEED.
A large number of respondents selected the range of 500 to 1000 as the
amount which they can spare on insurance monthly, and the rest 56 percent
chose the range till Rs. 5000 and there was no one in the range of 5000 to
10000.
Category Percentage of Respondents
500-1000 44%
1000-2500 36%
2500-5000 20%
5000-10000 0%
44%
36%
20%
0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
500-1000 1000-2500 2500-5000 5000-10000
(all figures are in Rs.)
(Source: Survey)
Graph No. 15

65. INSURANCE CONSULTANT SURVEY
Gender of the respondent
Inference
As we can see from the figure itself that there is a sex ratio difference
between males and females, which is 3:1 in the insurance industry. It is
mainly because advisor’s job
Is demanding in terms of rigorous fieldwork and hence women finds
difficult to cope up with it.
23.1
76.9
Female
Male
Gender of the respondent

66. marital status of the respondent
Table 2
75.4
24.6
married
unmarried
marital status of the respondent
Inference
More married people work, as advisors and company prefer to employ them
in comparison to unmarried ones because being family people they tend to
take their work more seriously. Because generally a laid back attitude has
been observed in the unmarried people.

67. educational qualification of the respondent
Inference
7.7
61.5
30.8
inter
graduate
professional
educational qualification of the respondent

68. Among insurance advisors, it has been observed that 61.5% of them are
graduates in comparison to professionals like CA’s or MBA’s who are just
30.8%. While intermediate pass people just make 7.7% of the whole lot.
agency to which respondent was associated
LIC ICICI PRU LIFE OTHERS ALL
0
10
20
30
40
50
60
Percent
13.8
26.2
1.5
58.5
agency to which respondent was associated

69. Inference
The majority of the agents whom we met and surveyed were found to
be associated with LIC (58.5%) while 1.5% was found to be linked with
all companies.
contacting the customer by the respondent
9
10
46
personal meeting
& telephone
telephone &
references
all
contacting the customer by the respondent

70. Inference
When respondents were asked that what are the ways they use for
contacting the clientele base they are having then 70.8% of them named
telephone calls, personal meetings and references as the major means of
keeping in touch with their customers while only 15.4% named telephone
calls and references as their sources.
frequency of visiting the customer by the respondent
once a month twice a month more than that
0
10
20
30
40
50
Frequency
frequency of visiting the customer by the respondent
Inference
75.4% of the advisors were find to visit their customers almost twice a
month for various purposes like updating the customers for new policies

71. and products company is introducing etc. and only 15.4% visited their
clients once a month.
Inference
The commission earned by the advisors on the policy they sell to their
customers is called the premium or the productivity. 70.8% of them had an
annual productivity of
source of information of the customer
newspapers television and radio relatives/friends other sources
0
5
10
15
20
25
Frequency
source of information of the customer

72. Inference
As per the point of view of the 36.9%advisors, the customers usually
get to know about the policies and products of any insurance company
via their relatives or friends while 23.1% advisors gave the credit to the
advertising in the newspapers as
the source of information to the people. TV and Radio had 21.5% of the
advisors favoring them.
Parameters Demanded in insurance policies

73. 21.54
27.69
16.92
33.85
service
quality
product features
brand
parameters demanded in insurance policies
Inference
33.8% advisors feel that while buying a policy what customer looks is the
brand name associated with it. Like for selling a LIC, which is a generic
brand you don’t need to do that much hard work because customer knows it.
27.7% favored quality of the product they are selling as the top priority of
the customer.16.9% advisors gave their consent to the product features as
one of the enticing factor for the customers in buying into a policy.
PURPOSE OF GETTING INSURANCE

74. 13.85
15.38
13.85
20
16.92
20
protection
savings
child future
retirement
investment
tax saving
purpose of getting an insurance
Inference
20% of the advisors felt that retirement and tax saving are the main
purpose of the people for getting an insurance done. While 13.8% felt that
child future and protection were the causes for the people to get an
insurance done.16.9% favored investment as the reason and 15.4% voted
for savings as one of the cause for getting an insurance.
CHAPTER NO 6

75. CONCLUSION AND RECOMMENDATIONS
Recommendations and Suggestions
During the exposure of 1 month I had in the insurance industry via AVIVA,
it helped me to develop the basic understanding of how this industry works
and the work experience & knowledge gained has also helped me to give
the recommendations as stated below:
An insurance policy is a product, which needs a lot of convincing before it
can be sold because what I analyzed in this internship that there are very
few people who have a basic knowledge about life insurance especially the
lower middle class society. So, it is essential for the advisor to know what
the customer actually needs and then letting the customer know what
benefits he will get out of it.
During the calls where I went along with the sales manager, I observed that
people in general have the perception that insurance is all about getting
discount in tax & investments. People should be made realize that it is a
great way of saving for the future too.
Besides doing market research, my other job was also to increase the
advisor base of the company. And company preferred the profiles of the
already established insurance advisors of the other company especially the
LIC ones. What I suggest is that before approaching these prominent agents
we need to do a SWOT analysis of the co. they are into. Like LIC Agents
usually complain of LOW returns and hence AVIVA can tap them on this
loophole of LIC.
Instead of approaching these good profile agents personally, the company
can hold Seminars Or Club Meetings because every one comes for free

76. lunches. Once they come, they can be given Business Opportunity
presentations about the incentives, commission structure etc is offering to
its advisors.
Since the commission structure has been fixed by the IRDA only so no
insurance company can give more commission on products but every
company has a different mode of distributing commission, since AVIVA
has all kind of products and policies with it (including the products which
LIC have and even those which LIC do not (have) thus every agent can
earn as much (NO UPPER LIMIT ON EARNINGS) as he wants because he
has more choice to offer to the customer. This can be one of the sales pitch
for the aviva life insurance.
CONCLUSION
• AVIVA is aiming to become number 1 by Year 2010 Presently
having 176 branches all over the country.
• But if we analyze in all sectors of life insurance then LIC has been
the most dominant player since 1956. The impact of LIC has been so
much in both rural and urban areas that people use the term LIC
instead of life insurance.

77. • AVIVA faces a big challenge in front of them to stay in the race with
Life insurance corporation (LIC) because with the entrance of others
companies
• Like BHARTI AXA, PANTALOON, HSBC etc the competition will
become tougher.
• But insurance is also growing day by day, India has a population of
1.2 billion and only 6.73% population is insured. This means
insurance is an upcoming industry but Aviva has to work a lot on
their strategies to overcome LIC.
SURVEY OF INSURANCE CONSULTANTS
 Name: -
 Age: -
 Address: -
 Contact no: -
1) Gender
a) Male b) Female
2) Marital status
a) Married b) Unmarried

78. 3) Educational qualification
a) Inter b) Graduate c) Professional
4) Agency recruited to
a) LIC b) ING VYSYA c) ICICI PRU d) OTHERS
If holding more than one specify:………………………………..
5) Insurance Club Membership
a) Yes b) No
If yes, specify the clubs:………………………………….
6) Experience in the field
a) 0-6 months b) 6-12 months c) More than 1 yr
7) No of policies sold in a month:
a) 1 to 5 b) 5 to 10 c) more than 10
8) Does any other family member holds any agency:
a) Yes b) no
If anyone interested: …………………………………
9) Annual Productivity (net premium per annum)
a) Below Rs. 50,000
b) Rs. 50,000—1,00,000
c) Above Rs. 1,00,000
10) Contacting the customer: -
a) Personal Meetings
b) Telephone Calls
c) References
11) Frequency of visiting the customer to keep him updated about the
policy?
a) Once a month
b) Twice a month
c) More than that

79. 12) How the customer gets to know about the different policies?
a) News papers/ Magazines
b) Television/ Radio
c) Relatives/ Friends
d) Other Sources
13) What parameters people demand in an insurance product?
a) Service
b)Quality
c) Product Features
d)Brand
14) Purpose of insurance
a) Protection
b) Savings
c) Child Future
d) Retirement
e) Investments
f) Tax Saving
BIBLOGRAPHY
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