HR project on recruitment, selection of financial advisor and bancassurance

PROJECT REPORT
ON
“RECRUITMENT, SELECTION OF FINANCIAL
ADVISOR AND BANCASSURANCE”
CONTENTS

Executive Summary
Objective & Scope of Project
Company Profile
Theoretical Background
Research Methodology
Observation & Analysis
Findings:
Limitations
Conclusion
Recommendation
Bibliography
Annexure
EXCUTIVE SUMMARY

I had a personal interview with the manager of priority circle and I was asked to tell something
about Haldwani market and how many people do I know in Haldwani. I was asked to write down
the names of those persons whom I know in Haldwani. Then I studied the working process of an
executive for selecting the people as business partners which consists insurance advisors of the
company.
The project work was done to know the marketing world in a closer way. The ingredients of the
market and its effect were experienced in the due course of the project. The skeleton structure of
this project work is mentioned as follows.
The company ICICI Prudential has been set up to encourage the insurance business. Within few
years of its origin it has commercialized many branches all over India. The company itself is
headed by Zonal Manager, and then down line in the hierarchy comes the Unit Managers. The
Unit Managers are responsible for recruiting the Financial Advisors in the company. These
financial advisors are the commission agents who target the potential market for selling the Life
Insurance Policies of ICICI Prudential.
My responsibility as a project trainee was to recruit and select financial advisors from the
market. It was really great to be at par with the Unit Managers and share the same responsibility.
I as a project trainee was provided with proper and scheduled training in the initial couple of
days.
The training covered the techniques to be applied in order to recruit and select the Financial
Advisors. These are as follows:
The way to identify the potential.
The type and nature of people to be targeted.
The way to pitch the objective and views to the potential Financial Advisors.
The Identification of market as a whole.
The understanding of the professional atmosphere.
These are the techniques that were covered under the training this training was done with the
view of improving the skills to the be a good convincer.

I was advised to be all the way with the Unit Manager and understand what he does and try to
execute the same.
Everyday I was given a target to meet at least ten customers. And promote the idea to become
financial advisors, and apply the personal as well as trained skill and abilities to convert them.
During my project work I initially targeted the people who seemed to have a lot of contacts like
restaurant owners, shop owners, chartered accountants, business men and high profile marketing
executive related to some other sector. The reason for such approach was that these are the
people who normally have a lot of contacts in the market. They meet a large number of new
people o daily bases. So, these are the people who are potentially capable of generating policies
regularly.
My job was to explain them the benefits of becoming the financial advisors, as a source
of regular and free income without investing hours at work.
The Potential Advisors were explained the quantity to income:
They were authorized to receive a guaranteed income of 15% to 20% of the first premium
of any new policy that they would be able to convert.
A part from this they would also continue to receive at least 10% to 15% of the annual
premium of a policy that they generate, till the number of years the policyholder keep the
policy active.
A new ICICI zero balance account for their benefit.
Also regular invitation to the prudential parties shows.
Most importantly a regular authorized IRDA license only for people authorized to sell
insurance policies.
These were the benefits that will attract any person who knows a large number of tax-payers, or
knows people who are financially capable of taking policy for themselves or for their family
members.
OBJECTIVE OF THE PROJECT

The main objective of this project is to get the knowledge about the recruitment process made for
selecting people as an advisor in an insurance company. It tells us about the plans policies and
the types of the people to target them and recruit then in the company. It main purpose to know
the benefits of the insurance advisor and knowledge about the working process of all department
of the company.
It Elucidates on the company‟s products policies, profile and commission structure including the
history of company‟s business.
Project work is done to get a practical knowledge about the corporate world and its professional
was of working. It is done for the management student to gain knowledge and get a professional
outlook in the world of business. It is aimed for to understand the difference between the
theoretical and practical knowledge.
This project report is prepared to get practical knowledge by preparing ourselves for present and
future analysis of the whole industry. In these two months of project I have gained lot of
information and knowledge about the insurance industry which is one of the most important
growing industries in our economy.
COMPANY PROFILE

Human life is an income generating asset. This asset can be lost though unexpected death or
made not functional through sickness or disability caused by an accident. There is no certainty
that an accident will happen. But its timing is uncertain.
Life insurance protects against loss of income of an individual life insurance.
1. Does not protects the asset
2. Does not prevent the loss
Life insurance reduces impact of the risk of the owner and those who depend on the asset it must
however be noted that, only economic of financial losses can be compensated. For e.g. emotional
support that the breadwinner provides can neither be evaluated nor compensated. However the
financial support can be evaluated and compensated.
Role of insurance in building the nation.
Insurance benefits society by:-
Providing the relief to the insurance from any mishap
Reducing the burden of the government in providing relief to the old citizen.
Placing large sum of money at the disposal of the government of development
Suddenly insurance has come to be a way of life. Even though many of the private insurance
companies came in to the market during 2001, only now the market is highly dynamic. In India
insurance has been synonymous with LCI. Life Insurance Corporation was created as an entity in
1956 through LIC act. Since then, until recently 2000 the insurance sector. Both life & non-life
was monopolized by public sector insurance corporations.
Now, with the impact of LPG (Liberalization, Privatization and Globalization) many private
business houses have come up as joint venture with partnerships. From multinational insurance
companies. The private players are introducing innovative.
Insurance products, appointing qualified persons as agents and advisors. They are aggressively
promoting their products and are going for multi-channel distribution.
History

ICICI prudential life insurance company is a joint venture between ICICI bank a premier
financial powerhouse and prudential plc, a leading international financial services group
headquartered in the united kingdom, ICICI prudential was amongst the first private sector
insurance companies to being operation in December 2000 after receiving approval from
insurance regulatory development authority (IRDA)
ICICI Prudential equity base stands at Rs. 9.25billion with ICICI bank and prudential plc holding
74% and 26% stake respectively. In the financial year ended March 31, 2005 the company
garnered Rs. 584 crore of new business premium for a total sum assured of Rs. 13,780 crore and
wrote nearly 615,000 policies. The company has a network of the about 56,000 advisors as well
as 7 bank assurance and 150 corporate agent tie-ups. For the past four years ICICI prudential has
retained its position as a no. private life insurer in the country with a wide rage of flexible
products that meet the needs of the Indian customer at every step in life.
ICICI Prudential life insurance co. ltd. Is a 74:26 joint venture between ICICI bank and
prudential pale, UK? The company brings together the local market expertise and financial
strength of ICICI bank and prudential international life insurance experience. The company was
granted a certificate of registration by the IRDA on November 24, 2000 and eighteen days later,
issued its first policy on december12.
From its early days ICICI prudential seemed to have the wherewithal for a large scale business.
By march 31,2002 a little over a year since its launch, the company had issued 100,000 polices
translating into a premium income of approximately Rs. 1,200 million on a sum assured of over
Rs. 23 billion.
When the company began its operations the need was to build a brand that was relatable to
symbolized trust and was easily recognized and understood. It launched a corporate campaign
using the theme of sin door to epitomize protection trust togetherness and all that it Indian,
endearing itself to the masses. The success of the campaign “the calling card of the company”
saw the brand awareness scores almost at par with its 40 years old competitor. The theme of
protection was also extended to subsequent product and category specific campaigns- from child
plans to retirement solution- which highlight how the company will be with us customers at
every step of life.
From day one, the company has unflinchingly focused on being a mass-market player,
developing products creating a distribution network and deploying resources that would further
its goal. A part form ramping up and thoroughly training its advisors the company has twelve

banc assurance partners- largest in the country. It swiftly revised and added to its initial range of
products, pioneering market linked products and pension plans to offer customers the most
flexible life insurance policies in the country.
In 31 March 2007, ICICI prudential increased its capital base by Rs.20.60 Billion its ninth capital
hike bringing the total paid up equity capital to Rs. 6,750 million. With the authorized capital of
the company standing at Rs 20.60 billion, ICICI prudential to have the highest capital base
amongst all life insurance in the company. The challenge ICICI prudential now faces is to retain
its top-notch position and continue to deliver the finest life insurance and pension solution to its
ever-growing customer base.
Another novel introduction is the ICICI prudential life style rewards club, India‟s first rewards
program for the life advisors. It allows ICICI prudential advisors to redeem points for items for
items ranging from kitchenware to gold, white goods and even international holidays.
PROMOTION
ICICI Prudential is a case study in how advertising and marketing can play a vital role in re-
shaping and industry. It has demonstrated how an industry where the customer was nothing more
than a policy number has changed to one where customer preference rules the roost.
Brand-building in a complex category like life insurance is an uphill and multi faceted task. At
the time of launching operations the communications task was to build credibility so as to give
the customer the confidence that it was a company that could be trusted to invest funds with. The
aim was to encourage people to view insurance not as a compulsory tax saving instrument, but as
a means to lead a worry-free secure life and in the process, create the differentiator for brand
ICICI prudential.
The brand proposition for all the campaigns was reflected in the line “Suraksha Zindagi Ke Har
kadam Par”. The campaign featured a significant competitive advantage, the sound financial
backing and credentials of ICICI and prudential and showcased products from different
segments. The advertising idea was encapsulated in the symbol of protection the Sin door. This
campaign contributed extensively to raising brad awareness and crating a distinctive identify for
the company.
The refreshingly different “Retire from work, not life” campaign succeeded in bringing
retirement planning into the consideration set of a younger target audience and won a silver Effie
for its efforts. The media campaign was complemented by seminars to spread awareness about
the need for retirement planning.
Very recently the company launched a new corporate campaign an extension of the sin door
communication-which aims at reassuring customers that the company is committed to staying
with them through all the ups and downs in life, using marriage and the seven vows or “Saat
Pheras” as a metaphor for commitment. The campaign aims at strengthening the brand by
memorably bringing out the commitment for life element.

Insurance a service industry needs to address seven marketing mix elements unlike the 4ps in
manufacturing industry. The service marketing mix knows as 7ps consists of product, price,
promotion, place, people, physical evidence and process.
Though all mix elements are equally important the more conspicuous and dynamic mix elements
of insurance at present are product promotion and place. A number of innovative products have
come up in the industry and to make the consumer aware the promotion campaigns fill much of
the insurance company‟s budget. Though there are distinct strategies in product and promotion
mixes this paper focuses on exploring the innovations in distribution mix.
Mantra of Insurance Industry
Although distribution has its own mix, insurance being a service industry the prime distribution
mix element is channel mix. This paper concentrates on the innovative channels surfacing in
insurance industry.
To deliver the services, players in insurance take various to route to reach and service the
customers. With just 70 million insured out of 1000 million, there is enormous potential in the
industry.
Traditionally the channel member has been the insurance agent. Some private insurance
companies now call them advisors. Never the less agents form the prime front life force with all
insurance companies and they remain to be the most basic and most important channel members
to reach the customers. Apart from agents the insurance companies take various innovative
routes to spearhead their marketing plans and to capture a larger pie of market share.
This sector was opened for the private players in the year2000. Many private players have
entered the sector looking at the potential and also to serve the society.
In the year 1948, United Nations declared “everyone has right to standard of living the adequate
for health and well being of the family”. The death of the person during the productive years is a
great loss for the society as well as for the nation. Life insurance reduces this cost and it‟s
complementary to states effort at social management.
Recent scenario in India is that only 22% of the insurable population is having the policies of
some or the other company, and the companies are not able to reach the huge population of
India. So there is a need to advisors in this industry. They are one of the important parts of the
distribution channel. In my assignment I have to recruit the advisors for the company and after
which provide them a through training about the products and assist them to their sales call.

At ICICI prudential we have to look for the people who fit‟ sin to the criteria of the company. A
life insurance advisor works on the commission basis. He is paid a stated percentage of the
premium collected by him. Section 40 a 910 of the insurance act stipulates that the maximum
amount which can be paid to a life insurance advisor, by way of commission in any form, shell
be 34% of the first year 7.5% of the second and third year‟s premium and 5% of subsequent
renewal premium.
While recruiting advisors for ICICI prudential we have to look for the prospect that has to fulfill
the below mentioned criteria:-
Age above 18 years
He/She must be maximum graduate and minimum as H.S.C (as per specified by the
company.
He/She must the resident of Haldwani.
To know what is the people thinking about the ICICI prudential life insurance.
Learn to recruit and select right person for right job.
It he satisfied any tow of the above mentioned points; he is eligible for the post of the financial
advisor. The field of the life insurance is the challenging or by far the most interesting job. The
mantra to succeed in this business is to recruit the right candidate profile and be able to take the
right activities done by him at the right and to motivate him from time to time to the business
done.
Corporate Profile
ICICI is one of the biggest financial power houses in the country. It is a household name and the
impact. Which ICICI has made in the retail market is enormous.
Market
From over 50 years life insurance in India was defined and driven by only one company the Life
Insurance Corporation of India (LIC) with the insurance regulatory and development
authority(IRDA) bill 1999 paving the way for entry of private companies in to both life and
general sectors there was bound to be new found excitement-and new success stories. Today just
three years since their entry their cumulative share has crossed 13% (source: IRDA), exceeding
expectations
The industry presented a huge opportunity life insurance penetration for instance was at an
abysmal 22% of the insurable population. However private players have had to rise to many
challengers. They were faced with attitudinal barriers towards the category and the perception
that insurance was only a tax-saving tool. Insurance per se has lost it basic rationale protection. It
was not surprising then that its potential lay frozen and unexploited. The challenge for private

insurance players was to change the established category driver and get customer to evaluate life
insurance as an investment-cum-protection tool.
ICICI Bank
ICICI Bank is India‟s second largest bank with total assets of about Rs. 3446.56, Billion and a
network of about 950 branches and offices and about 3300 ATMs. I offers wide range of banking
products and financial services to corporate and retail customers through a variety of delivery
channels and through it specialized subsidiaries and affiliated in the areas of investment banking
life and non-life insurance venture capital asset management and information technology, ICICI
Bank posted a net profit of Rs. 31.10 Billion for the year ended march 31, 2007. ICICI bank‟s
equity shares are listed in India on stock exchange at Chennai,Delhi, Kolkata, and Vadodara, the
stock exchange, Mumbai and the national stock exchange of India limited and its American
Depositary Receipts (ADRs) are listed on the New York stock exchange (NYSE)
Prudential PLC
Established in London in 1848, Prudential plc, through its business in the UK and Europe the US
and Asia provide s retail financial services product and services to more than 16 million
customers, policyholder and and unit holders worldwide. As of June 30, 2007 the company had
over 259 Billion in funds under management. Prudential has brought to market an integrated
range of financial services products that now includes life assurance pensions, Mutual funds
banking investment management and general insurance. In Asia prudential is the leading
European life insurance company with a vast network of 24 life and mutual fund operations in
twelve countries China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, The Philippines,
Singapore, Taiwan, Thailand and Vietnam.
Fact Sheet
ICICI Prudential Life Insurance Company is a joint venture between ICICI bank a premier
financial powerhouse and prudential plc, a leading international financial services group
headquartered in the United Kingdom ICICI prudential was amongst the first private sector
insurance companies to begin operation in December 2000 after receiving approval from
insurance regulatory development authority (IRDA)
ICICI Prudential equity base stands at Rs. 925 crore with ICICI bank and prudential plc holding
74% and 26% stake respectively. In the quarter ended June 30, 2007. The company game red Rs.
4843 Crore of new business premium for a total sum assured of Rs.8760 Crore and wrote
1,11,522 policies. For the past four years ICICI prudential has retained its position as the No.1
private life insurer in the country with a wide range of flexible products that meet the needs of
the Indian customer at every step in life. To know more about the company please
visitswww.iciciprulife.com.
Distribution of Life Insurance Company

ICICI Prudential has one of the largest distribution networks amongst private life insurers in
India having commenced operations in 74 cities and towns in India. These are Agra,
Ahmedabad, Ajmer, Allahabad, Amritsar Anand, Aurangabad, Bangalore Bareilly Bharuch,
Bhatinda, Bhopal, Bhubhaneshewar , Calicut, Chandigarh, Chennai, Coimbatore Dehradun
Durgapur, Faridabad, Goa, Guntur Guwhati, Gurgaon, Gwalior, Hyderabad, Hubli, Indore,
Jaipur, Jalandhar, Jamnagar, Jamshedpur, Jodhpur, kanpur, Karnal, Kochi, Kolkata, Kolhapur,
Kota, kottayam, Kozhikode, Lucknow, Ludhiana, Madurai, Mangalore, Meerut, Mehsana,
Mysore, Nagpur, Nasik, Noida, New Delhi, Patiala, Pune Raipur Rajkot, Ranchi, Rourkela,
Saharanpur, Salam, Shimla, Siliguri, Surat Thane, Thrissur, Trichy, Trivandrum, Udaipur,
Vadodara, Vapi, Vashi, Vijayawada and Vizag.
The Company has seven banc assurance tie-ups having agreement with ICICI Bank Federal
Bank, South Indian bank, Bank of India, lord Krishna Bank and some co-operative banks as well
as over 150 corporate agents and brokers. It has also tied up with tied up with ngos, mfis and
corporate for the distribution of rural policies and organization like dhan for distribution of
salaam zindagi a policy for the socially and economically underprivileged sections of society.
Vision of Life Insurance Company
To make ICICI prudential the dominant life and pension‟s player built on trust by world class
people and services.
This we hope to achieve by:
1. Understanding the needs of customers and offering them superior products and service
2. Leveraging technology to service customers quickly efficiently and conveniently
3. Developing and implementing superior risk management and investment strategies to
offer sustainable and stable returns to our policyholders
4. Providing an enabling environment to foster growth and learning for our employees
5. And above all building transparency in all our dealings.
The success of the company will be founded in its unflinching commitment to 5 core values-
Integrity customer first boundary less ownership and passion. Each of the values describes
what the company stands for the qualities of our people and the way we work.
We do believer that we are on the threshold of an exciting new opportunity where we can
play a significant role in redefining and reshaping the sector. Given the quality of our
parentage and the commitment of our team, there are no limits to our growth.
What is Insurance?

It is contract between the two parties. One party is called as insurer and other party is called
as insured. He is the one who undertakes in exchange for a fixed sum called as premium. To
pay the other party for happening of a certain event.
It is protection against a financial loss arising on the happening of an unexpected event. The
insurance company collects premium to provide for the protection. A loss is paid out of this
premium collected from insured public. The insurance company acts as a trustee for the
amount collected through premium.
It is classified as
1. Life Insurance
2. Health Insurance
3. General Insurance
For getting an organization insured one can approach to the insurance company directly through
insurance agent or through intermediaries.
Benefits ofInsurance:
Insurance is an instrument for security saving and peace of mind. It provides several benefits by
paying a small amount of premium to the company as:-
Safeguarding oneself and one‟s family for future requirements
Peace of mind in case of financial loss.
Encourage saving
Tax rebate.
Protection from the claim made by creditors.
Security against a personal loans housing loans and other type of loans
Providing a protection cover to the industries agriculture and to women and child.
What is Life Insurance?
It is the contract for the payment of a sum of money to a person assured to receive the amount.
On happening of the event insured against it.
The company contracts provides for the payment of an amount on the date of maturity at a
specified date at a happening of an unexpected event. It is paid for the benefits.
Benefits of Life Insurance

Superior to other saving plan.
Encourages forces thrift.
Easy settlement and protection against creditors.
Administering the legacy for beneficiaries.
Ready marketability and suitability for quick borrowing.
Disability benefits.
Accidental death benefits
Tax relief.
Introduction of Priority Circle
Priority circle is another division of ICICI prudential company it was opened to give preference
to the salaried and non salaried people for offering the financial services by letting these people
to become the business partners, and can offer the product based training for an opportunity to
diversify the business and widen the services which are offered no capital investment and earn
higher returns.
Features of Priority Circle
It is having 91 branches spread over 67 location.
A committed team of corporate bankers and call center executives 46000 advisor force.
Tied up with India‟s leading bank like ICICI bank, bank of India and federal bank.
Introduction of the products of ICICI Prudential

It covers the various and wider range of products and polices with including the features of
its own choices in the customers hands they are:-
Saving cum protection plans.
Pure protection plans.
Child plans.
Market linked plans.
Group plans.
Retirement plans.
Saving Cum Protection Plan :
It is that plan which offers a variety of policies for the benefits needed for the protection and
an opportunity to save all important assets for the event of purchasing an home through loan
and wedding through loan and insurance. It has the following benefits. They are:-
1. Invest shield life.
2. Invest shield cash.
3. Invest shield gold
4. Premier life.
5. Life time and life time2.
6. Secure plus.
7. Cash plus
8. Save n protect
1. Invest Shield Life:-
Under this a regular premium consists of unit linked insurance plan with an assurance of
capital guarantee needed to meet your financial goals and uncertainty takes place for the
future period of time. In order to protect you family and you capital to earn more on your
investment.

2. Invest shield cash:-
It is the regular premium unit lined insurance plan which given an assurance of flexible
liquidity options I.E. more money earned at the time of closing down the business and
conversion of cash and paying of all debts.
3. Invest Sheild Gold:-
It is the unit linked plans of insurance which gives an assurance of payment of premium for a
period of time for its coverage as per the terms.
4. Premier life:-
It is a market linked insurance plans which are necessary for meeting your investment and
protection needs.
5. Life time and life time2:-
It is that market linked insurance plans that teachers to change the investment and protection
needs throughout in the life time.
6. Secure plus :-
It is an insurance plan which provides the saving for the protection and also the multiple
options that you have.
7. Cash Plus:-
It is an insurance plan which gives an edge for the saving people in the form protection and
multiple options with the power of liquidity.
9. Save n protect:-
It is an endowment policy needs for the savings for offering both for the high offerings and
protection.
Pure Protection Plan :

It is that plan which is known as lifeguard insurance for the total security for the family at an
affordable cost. It consists of few things. They are:-
A- Level Term Assurance with Return.
B- Level Term Assurance Without of Premium.
C- Level Term Assurance with single premium.
A- In the first case you need to pay a regular premium for term of insurance that you have
chosen. Equal to the sum assured.
1- In case of death the entire sum of money assured will be paid back
2- In case of maturity the premium is paid is returned till survival
B- In the second case the total sum of money assured is paid to the beneficiaries. But no
maturity benefits are given for the survival.
C- In the third case the single premium amount is only one time payment of premium
depending upon the term sum assured. The minimum sum assured is 2.5lakhs. Incase of
death of life, the amount is paid to the beneficiaries but no maturity benefits are given at
the end of term.
Smart kid Protection Plan:
As a responsible parent you will always strive to ensure a hassle free successful life for your
child. However life is full of uncertainties and even the best laid plans can go wrong. Here‟s how
you can give your child a 100% safe and assured tomorrow whatever the uncertainties
Smart kid is especially designed to provide flexibility and safeguard your child‟s future
education and lifestyle taking all possibilities into account. Choose from amongst a basket of 4
plans:-
1- Smart kid regular premium
2- Smart kid unit linked regular premium.
3- Smartkid unit linked regular premium II
4- Smartkid unit linked single premium II
All these Plans for You:

I. Financial benefits: - Regular payments at critical stages in your child‟s, life like board
examinations, graduation and post graduation.
II. Total peace of mind even it you are not around.
III. Sum assured is paid immediately: - Ensures that your loved ones stay financial secure even
in your absence.
IV. All future premiums are waived: - Ensuring that your family is not financially burdened in
your absence.
V. Policy benefits continue: - The educational benefits of the policy continue ensuring that
your child can realize his or her dreams without any hassles.
VI. Development Allowance: - Smart kid guarantees regular income to secure your child‟s
educational career and also ensures his or her all-round development for a nominal
additional amount. The Income benefit rider takes care of his trough an annual payment of
10% of the sum assured to your child till the maturity of the policy in the unfortunate event
of the death of the parent.
Group Solutions
In an era of competitive parity the only asset that makes a decisive difference between
corporate success and failure is the quality of human capital employee benefits have proven
to be an excellent tool to optimize the retention of talent and improve an organization‟s
bottom-line. The quality of an organization‟s employee benefits establishes and maintains a
company‟s image as a caring employer. Optimum care of employees is a long term
investment that results in a sustained competitive advantage for an organization in the times
to come
Protection Solutions
Life guard is protection plan which offers life cover at very low cost. It is available in 3
options level term assurance level term assurance with return of premium and single
premium.
Child Plan

Smartkid education plans provide guaranteed educational benefits to a child along with life
insurance cover for the parent who purchases the policy. The policy is designed to provide
money at important milestones in the child‟s life. Smartkid plans are also available in unit
linked form both single premium and regular premium. The guaranteed value of the unit fund
of the value of all invested premium (premium net of all charges) along with the declared
bonus interests.
The capital guarantee is applicable only on the invested premium and the declared bonus
interests.
Secure Plan.
An insurance plan that gives added protection saving and multiple options all in one!
The flexibility to choose your premium contribution
The flexibility to choose amongst three levels of cover (in the form of sum assured) for the
same amount of total annual contribution.
The flexibility of shifting between the three levels of cover as you require.
The flexibility of receiving your maturity proceeds as a lumpsum or in equal annual
installments over 3to 5 years.
You can also enhance your policy by adding variety of riders.
Saving Solution:
Secure plus is a transparent and feature-packed saving plan that offers 3 levels of protection
Cash plus is a transparent feature-packed savings plan that offers 3 levels of protection as
well as liquidity options.
Save”n” protect is a traditional endowment saving plan that offers life protection along with
adequate returns.
Cash back is an anticipated endowment policy ideal for meeting milestone expenses like a
child‟s marriage expenses for a child-s higher education or purchases on an asset.
Life time & life time II offer customers the flexibility and control to customize the policy to
meet the changing needs at different life stages. Each offer 4 fund options preserver,
protector, and balancer and maximizes.

Life link II is a single premium market linked insurance plan which combines life insurance
cover with the opportunity to stay invested in the stock market.
Premier life is a limited premium paying plan that offers customer life insurance cover till the
age of 75.
Invest shield life is a market linked plan that provides capital guarantee on the invested
premiums and declared bonus interest.
ICICI Pru Group Solution Advantage:
An integrated basket of employee benefits solutions that offer incomparable flexible benefits.
Sound investment management that focuses on safety stability and profitability of the
portfolio.
Personalized financial planning for your employee that takes care of his/her changing needs
at every stage of life.
Quality service initiatives and transparency across all operations, promising superlative
operational efficiency.
ICICI prudential has recruited and trained over 60000 insurance advisors to interface with advice
customers. Further it leverages its state of the art IT infrastructure to provide superior quality of
service to customers.
Alternate Products of ICICI Prudential
Insurance solutions for individuals.
ICICI prudential life insurance offers a range of innovative customer-centric products that meet
the needs of customers at every life stage. Its 27 products can be enhanced with up to 6 rider to
create a customized solution for each policy holder.

Cash plus Advantages:
The flexibility to choose your premium contribution.
The flexibility to choose amongst three levels of cover (in the form of sum assured) for the
same amount of total annual contribution.
The flexibility of shifting between the three levels of cover as you require.
The flexibility of receiving your maturity proceeds as a lump sum or in equal annual
installments over 3 or 5 years.
An insurance plan that gives you added protection saving multiple options, plans the power
of liquidity.
The flexibility of withdrawing up to 10% of the accumulated value of your policy, after the
first 5 policy years.
ProtectionAdvantages:
Choose a specified level of protection (available only with life time)
Two levels of sum assured to choose from (available only with life time II)
Flexibility to increase or decrease your sum assured.
Add on riders to protect you against any eventually.
Savings Advantages
Flexibility to increase or decrease your contribution.
Facility of premium holiday, where in the policy continues even if there is a temporary break
in the payment of annual contribution (available only with life time.)
Facility of automatic cover continuance, where in the policy continues even if there is a
temporary break in the payment of annual contribution (available only with life timeII.)
Facility to top-up your investment any time you have surplus funds.
Additional allocation of units on a periodic basis.

Loans against the policy.
Investment Advantages
Choose from among four funds, based on your investment and risk appetite.
Choice to switch between investments options (4 free switches every policy year.)
Cash Back
A single plan that combines protection, saving and liquidity.
Periodic liquidity:- The plans offers 2 terms (15 years or 20 years) which offers survival
benefit payment at regular intervals to provide you liquidity.
Guaranteed Benefits: - Guaranteed additions@3.5% compounded annually for the first 4
years of the policy.
Maturity Benefit: - At the end of the term, you can get the full sum assured the guaranteed
additions and the vested bonuses.
Death Benefit: - If the life assured were to meet with an unfortunate death, the beneficiary
will get the sum assured, the guaranteed additions and the vested bonuses, irrespective of the
survival benefits already paid.
ICICI prudential gives you the freedom to form your very own comprehensive insurance policy
by adding the rider benefits to the basic life insurance policy. Add from the following list of
benefits to increase the scope of your policy at a nominal cost.
Critical illness rider
Accident & disability benefit rider
Accident benefit rider
Income benefit rider
Waiver of premium

Critical Illness BenefitRider:
This rider provides protection against 9 critical illnesses, namely, major organ transplants,
complete renal failure, stroke, paralysis, heart attack, valve replacement surgery, major surgery
of the aorta, CAGS (bypass) and cancer.
Benefits Paid On Contracting the Illness:
Accelerated benefits (available with save n‟ protect and cash back):- If the policyholder is
diagnosed with any of the specified illness, then the policyholder is paid the entire sum assured
under the rider. The policy along with all the riders (to the extent of the rider sum assured) is
then terminated. However, the remainder of the base policy continues till the end of the term.
The policyholder will have to continue paying his premiums for the remainder of the policy.
Accelerated benefits(available with secure plus, cash plus and secure plus pensions):- If the
policyholder is diagnosed with any of the specific illness, then the policyholder is paid the entire
sum assured under the rider the life cover along with all the riders is then terminated. However,
the policy value accumulation continues till the end of the term or death, whichever is earlier.
Standalone benefits(available with golden years premier life, life time, life time II, forever life,
group term plan, invest shield life, invest shield cash and invest shield gold):- If the policy holder
is diagnosed with any of the specified illness, he/she is paid the rider sum assured and the rider
terminates.
However, the base policy continues till maturity.
Premiums paid under this rider are eligible for tax benefits under section 80D.
Accident & disability benefit rider: - In this case if any person becomes disabled in any accident
then the whole amount of the bill will be paid by the company as per the policy.

Waiver Of Premium Rider (WOP)
On total and permanent disability due to an accident all future premiums for both the base policy
and rider (s) will be waived till the end of the term of the rider or death of the life assured if
earlier.
Waiver of premium rider is available with secure plus, cash plus, life guard ROP, life guard
WROP, smart kid unit linked regular premium II, life time II, life time pension II secure plus
pension, invest shield life, invest shield cash and invest shield pension.
Premiums paid under this rider are eligible for tax benefits under section 80C.
For a detailed list of exclusions/ conditions, please ask for our rider brochure.

Group Insurance Solutions
ICICI Prudential also offers group insurance solutions for companies seeking to enhance benefits
to their employee.
ICICI Pru group gratuity plan: - ICICI pru‟s group gratuity plan helps employers fund their
statutory gratuity obligation in a scientific manner the plan can also be customized to
structure schemes that can provide benefits beyond the statutory obligations.
ICICI Pru Group superannuation plan: - ICICI pru offers a flexible defined contribution
superannuation scheme to provide a retirement kitty for each member of the group.
Employees have the option of choosing from various annuity options or opting for a partial
commutation of the annuity at the time of retirement.
ICICI Pru group term plan: - ICICI pru‟s flexible group term solution helps provide
affordable cover to members of a group. The cover could be uniform or based on
designation/rank or a multiple of salary. The benefit under the policy is paid to the
beneficiary nominated by the member on his/her death.

Flexible Rider Solution
ICICI Pru life offers flexible riders which can be added to the basis policy at a marginal cost,
depending on the specific needs of the customer.
Accident & Disability Benefit: - If death occurs as the result of an accident the term of the
policy the beneficiary receives an additional amount equal to the sum assured under the
policy. If the death occurs while traveling in an authorized mass transport vehicle, the
beneficiary will be entitled to twice the sum assured as additional benefit.
Accident Benefit: - This rider option pays the sum assured under the rider on death due to
accident.
Critical Illness Benefit: - Protect the insured against financial loss in the event of 9 specified
critical illnesses. Benefits are payable to the insured for medical expenses prior to death.
Income Benefit:-This rider pays the 10% of the sum assured to the nominee every year, till
maturity, in the event of the death of the life assured. It is available on smart kid, secure plus
and cash plus.
Waiver of premium: - In case of total and permanent disability due to an accident, the
premiums are waived till maturity. This rider is available with secure plus and cash plus.

Invest Sheild Gold
A unit-linked insurance plan with an assurance of capital guarantee which offers you the
benefit of a limited premium payment term. An ideal plan for protection with wealth creation
that offers the flexibility of a limited premium paying term.
Flexibility to choose a premium payment term of 5,7 or 10 years for a maturity term of
10,15or 20 years respectively.
Flexibility to choose a specific level of protection (sum assured), based on a multiple of the
annual premium.
At the end of the term (maturity) the higher of the value of units or the guarantee value is
paid. On death, sum assured along with the higher of value of units or the guaranteed value is
payable.
Additional credits payable as a percentage of the initial annual premium are paid along with
the death or maturity benefit.
Facility to make with drawls from the 6th
policy year onwards till the end of the policy term.
Every year withdraw up to 10% of the value of units.
Flexibility to make additional investment with the help of the top-up facility.

Flexibility to increase/decrease your annual premium amount.
Total transparency with the premium allocation and other charges declared upfront.
The guaranteed value of the unit fund is the value of all invested.
Premiums (premiums net of all charges) along with the declared bonus interests.
The capital guarantee is applicable only on the invested premium and the declared bonus
interests.
Premier Life
Premier life: - The preferred plan for the preferred customer. The key features of the plan are.
Limited premium payment option: - choose from among a 3, 5,7or 10 year premium paying
term.
Choice of sum assured: - Choose a sum assured which is minimum multiple of 1 and a
maximum multiple of 25 times the annual contribution.
Facility to top-up your investment any time your have surplus fund.
Choose from among four funds, based on your investment objective and risk appetite.

Choice to switch between investmentsoptions (4 free switches every policy year).
Flexibility to decrease your sum assured.
Add-on riders to protect you against any eventuality.
Loans against the policy
Life Time & Life TimeII
Presenting a life time and life time II-unit-linked plan that meets your changing needs over a
lifetime. These solutions have been developed to meet your saving, protection and investment
needs at every stage in life.
Protection in this Plan
Choose a specified level of protection (available only with life time).
Two levels of sum assured to choose from (available only with life time II).
Add-on riders to protect you against any eventuality.

Saving In this Plan
Flexibility to increase or decrease your contribution.
Facility of premium holiday, where in the policy continues even if there is a temporary break
in the payment of annual contribution (available only with life time.)
Facility of automatic cover continuance where in the policy continues even if there is a
temporary break in the payment of annual contribution (available only with life timeII).
Facility to top-up your investment any time you have surplus funds.
Loans against the policy,
Investment
Choose from among four funds, based on your investment objective and risk appetite.
Choice to switch between investmentsoptions (4 free switches every policy year).
Save N Product
An ideal plan for those who want to accumulate funds on a regular basis while enjoying
insurance protection.
Guaranteed Benefits: - Guaranteed additions @ 3.5% of the sum assured compounded
annually for the first 4 years of the policy.
Extended Life Cover: - an extended cover for 5 years after the maturity of the policy for 50%
of the sum assured at no extra cost.
Maturity Benefit: - at the end of the term the policyholder receives the full sum assured the
guaranteed additions and the vested bonuses.
Death Benefit: - the beneficiary receives the sum assured the guaranteed additions and the
vested bonuses the life assured were to meet an unfortunate event. In case the life assured is
aged 7 year or less the basic premium paid will be returned.

Achievements of ICICI Prudential
Beginning operations in December 2000 ICICI prudential success has been meteoric becoming
the number one private life insurer within month of launch. Today it has one of the target
distribution networks amongst private life insurers in India, with braches in 91 cities. The total
number of policies issued stands at more than 780,000 with a total sum assured in excess of
Rs.160billion.
ICICI Prudential closed the financial year ended march 31,2007 with a total received premium
income of 20.6 billion, up 57 % form last year total premium income of Rs.15.87 billion. New
business premium income shows a 106% growth at Rs. 7.5 billion, driven mainly by the
company‟s range of unique unit-linked policies and pension plans. The company‟s retail market
share amongst private companies stood at 36% making it a clear leader in the segment.
To add to its achievements in the year 2006-07 it was adjudged Most Trusted Private Life Insurer
(Economic Times “Most Trusted Brand Survey” by A.C.Nielsen ORG-MARG). It was also
conferred the “Outlook Money-Best life Insurer” award for the second year running. The
company is also proud to have won silver at EFFIES 2003 for its Retire from work, not life
campaign. Notably, ICICI prudential was also short listed to the final round for its “sin door”
campaign in EFFIES2002
ICICI Prudential‟s success is rooted in its philosophy to always offer the customer a choice. This
has been the driving force behind its multi-channel distribution strategy which includes advisors,
banks, direct marketing and corporate agents. In fact ICICI prudential was the first insurer to
invest in multiple channels and offer the customer choice and access, the reducing dependency
on any one channel.
ICICI prudential also made great strides in the retirement solutions and pension market. The
company‟s penetration of the retirement market was driven by the focused approach towards
creating awareness through a sustained campaign “Retire from work, not life”. Within six month,
the campaign rewarded ICICI prudential with an increased share 23% of the total pension market
and 78% amongst private players.

Recent Development by ICICI Prudential
In keeping with its belief that a happy customer is the best endorsement ICICI prudential has
embraced the six sigma approach to quality an exercise that begins and ends with the customer-
from capturing his voice to measuring and responding to his experience. This initiative is
currently helping the company improve processes, turnaround times and customer satisfaction
levels.
Earlier peoples took insurance for safety benefits but not the company aims to change the mind
set of the people and aware them what all advantage other than.
Tax Benefits
Investment Option
Diversifying risk
Can a person get by getting himself insured?

Work Process:
The structure should fit the goal of the organization.
The company gets the prospective clients through three channels. It‟s a one level marketing
channel at ICICI prudential with three distribution networks.
1. BANCASSURANCE:-Bancassurance is word coined in the western world, when banks
began to get involved in the marketing of the insurance business. The involvement took
different forms in the different countries. In some countries the same institution would offer
both banking and insurance products separately or together as the customer may need.
2. TIED AGENTS: - The unit manager appoints these agents and there people work their
respective unit manager. Their main work is to create awareness among the customers and
then get the prospective customers after knowing their needs.
3. CORPORATE AGENTS: - These people work through sales executive. They appoint
different people under them, who in turn get the business for the company.
All the above mentioned agents have to undergo 100 hour training and getting license from
IRDA, after which they are authorized to sell the product of the company.

Major insurance players in the market are listed below:
Sr.No. Indian partner Foreign partner Specialization
1 ADITYA BIRLA SUN LIFE CANADA LIFE INS
2 KOTAK MAHINDRA OLD MUTUAL S
AFRICA
LIFE INS
3 HDFC STANDARD LIFE UK LIFE INS
4 RELIANCE NO FOREIGN
ALLIANCE
LIFE & NON
LIFE INS
5 ICICI PRUDENTIAL UK LIFE INS
6 MAX INDIA NEW YORK LIFE
U.S.A
LIFE INS
7 TATA GROUP AIG, UK LIFE & NON
LIFE INS
8 VYSYA BANK ING NETHERLANDS LIFE INS
9 HERO GROUP ZURICH,
SWITZERLAND
LIFE INS
10 CHOLAMANDALM UNDISCLOSED LIFE INS
11 HINDUSTAN TIMES UNDISCLOSED LIFE INS
12 DABUR CUG UK LIFE INS
13 UNDECIDED METLIFE U.S.A LIFE INS
14 SANMAR GROUP AMP AUSTRALIA LIFE INS
15 SBI CARDIFF FRANCIE LIFE INS
16 CORPORATION BANK UNDISCLOSED LIFE INS
17 MET LIFE U.S.A LIFE INS
18 UNDISCLOSED CIGNA U.S.A LIFE INS
19 UNDISCLOSED NATIONWIDE U.S.A LIFE INS
20 UNDISCLOSED G.E.CAPITAL U.S.A LIFE INS
The above mentioned are the list of the players that are there in the Indian life insurance industry
and some of them have yet to start their operations in India still going under the process of
licensing. Therefore we can see the competition that is still growing because the need of
penetration of the life insurance sector in the Indian industry. On the other hand we can say that
there is still a good opportunities for the employment in this sector.

THEORATICAL BACKGROUND
My Project Title is
“Recruitment, Selection Of Financial Advisor &Bancassurance
Recruitment has acquired an immense importance in today‟s organizations. Organizations have
realized the value of the human capital recruitment is the first step in the process of acquiring
and retaining the human resource for an organization. In the service industry like insurance,
recruitment of advisors is the on going process, as they are the one of the important part of the
distribution. Hence it is important to have well defined recruitment policy in the place, which can
be executed effectively to get the best fits for the vacant positions in the insurance industry the
recruitment policy is concerned with quality and qualification of the prospective advisor.
The agent is the main intermediary between the customer and the company. The customer-
advisor link is stronger than the advisor-company link. The advisors main function is to solicit
and procure life insurance business for the insurer. At the same time, he is trusted by the prospect
to advise him suitably keeping the circumstance and needs in the mind. His functions would
include.
Understand the prospects need and persuade him to buy a plan of life insurance that suits his
interest and his requirement.
Keep in touch to ensure that changing circumstances are reflected in the arrangements
relating to the premium nomination etc.
Facilitate the quick settlement of the claims.
Be very honest with both prospect and the company.

Process of Recruitment:
The process of recruitment at ICICI prudential can be described in brief with the help of below
given clarification.
In process of recruitment the H.R. department plans that whether there is any need for
recruitment or not. However in every insurance company it is an ongoing process as they are
considered as the heart of the distribution channel and counts for the maximum business done.
After which the company has to select between the two alternative i.e. demand or surplus. If
there is demand they go forward for recruitment process and if there are surplus i.e. any dead
advisors they are given certain reminders after which they are retrenched. At next level company
look for the number of advisors to be recruited by using different resources and methods. Than
company has to analyze the cost involved after which recruitment is done. At last the
programmed is evaluated and this process continues.
Concept of Selection
The process of choosing the right candidate for the right job is called selection. The selection
process starts with gathering complete information about the prospect advisor. The selection
process can have the four possible outcomes. Two of the possible outcomes have positive
outcomes are selecting the right candidate. It is obvious that the impact is going to be positive.
The second positive outcomes ar4e rejecting the wrong candidate that is going to help the
company in future. If he was selected than the company and his respective unit manager has to
divert all there attention towards that dead advisors.
The two negative outcomes are selecting the wrong candidate or rejecting the right candidate.
The first case the cost of having an unsuitable candidate in the going to create many problems for
the company and his respective unit manager. The company is going to suffer loss in training the
advisor. In the last case where the right candidate is rejected the company loses potential
candidate who would have turned out to be the asset for the company because of his positive
contribution.
Accept Reject

SUCCESSFUL
UNSUCCESSFUL
Business components in the insurance industry
First task of my project is prospecting which is a very difficult task in itself to do, because there
are so many competitors in the market with one or some other competitive advantage. According
to porters competitive strategies a company has to adopt any one of the below mentioned
strategies and concentrate hard on it to gain the competitive advantage.
Porter‟s generic competitive strategies
An insurance industry can either go for differentiation strategy like ICICI PRUDENTIAL
and MAX NEW YORK which differentiate itself form other by recruitment a good quantity
of advisor with quality of financial advisors and not running for the quantity.
On the other hand it can go for cost leadership like OM KOTAK or AVIVA which has a cost
advantage when it comes to the examination & training fees.
Some companies go for focus strategies like LIC the public giant that adopt this strategy as
most of the people have a good faith on it because its one of the government owned
subsidiary.
CORRECT DECISION REJECT ERROR
ACCEPT ERROR CORRECT DECISION
DIFFERENTION
COST LEADERSHIP
FOCUS

How to generate a good prospect
First before prospecting we must go for proper segmentation of the target market. While
segmenting we have to consider the criteria for segmentation.
Geographic segmentation: - For this have to took that which area is the most suitable for
targeting the prospect by taking into consideration their lifestyle and their standard of
leaving.
Income: - for this we have to look for various target groups and accordingly we have to
develop the strategy showing them that it is their need and they are the one who will be
benefiting by joining ICICI prudential.
Psychographic:- For this we have to look for various target groups, which is influenced by
some of their traits like motivation by the person they consider their idol, their values and
belief etc.
Lifestyle: - This is the group that has a different lifestyle and a very high standard of
leaving referred as HNI ‟s(High Network Individuals). They are basically influenced by some
other factors like rewards and recognition which gives them a chance to prove their worth in the
society. There fore we have to emphasis on the rewards and recognition programmes that are run
by ICICI prudential.
Accordingly, we have to do the effective segmentation that will help the company. An effective
segmentation must be:
Measurable
Substantial
Accessible
Differentiable
Actionable

If all above mentioned are then in a segmentation than it is of some worth to company.
Otherwise the company has to suffer in way of dead advisors and company has to spent a good
sum of money on them, which could have been utilized somewhere else.
Factors influencing buying decisions:
After segmenting we have to look for the factors that affect the prospective advisor influence to
join the company.
Need recognition
Information search
Evaluation of the best possible alternative
Join as a financial advisor
Post purchase evaluation
One before becoming advisor goes through the above-mentioned stages first he recognize that
weather there is any need for him to join as the advisor, will it really benefit him if he joins as the
financial advisor. In fact this is the stage that we have keep in mind while recruiting the advisor.
Because in today‟s world there is no one who would like to earn some extra amount of money by
just working without any binding. At the second stage he gathers the information about its
competitor. This is the stage where we find it very difficult because the prospective customer
gets reason in delaying the proposal. At the third stage he evaluates the best possible alternative.
This is the stage we have to focus on because at this stage we can provide so many reasons to the
prospective advisor for joining ICICI prudential. Then comes the stage where he decides to join
the agency and ready to take the training. After this step comes the post purchase evaluation
where he cross checks himself with the advisor of the other company, regarding the rewards and
recognition offers that are offered to him and others.

Strategy to Satisfy the Key Stakeholders:
STAKEHOLDERS
PROCESS
RESOURCES ORGANISATION
As seen in above figure one could easily recognize the stakeholders are of outmost importance to
any company. In insurance industry financial advisors are one of the important ingredients to
complete their stakeholders so it‟s the company who has to look for them so that they are
satisfied and motivated to perform well.
At ICICI prudential we have to look for the people who fit into the category of the company. A
life‟s insurance advisor works on the commission basis. He is paid a stated percentage of the
premium collected by him.
While recruiting the advisors for ICICI prudential we have to look for the prospect that has to
fulfill the below mentioned criteria.
Age above 18 years.
He/She must be maximum graduate and minimum HSC
He/She must be resident of Haldwani.
Prior sales experience necessary.
If he satisfies any of the above conditions he is eligible for the post of the financial advisor. The
field of insurance is the challenging job, by far the most interesting job. The mantra to succeed in
this business is to recruit the right candidate profile and be able to take the right activities done
by him the right time and to motivate him from to time to get the business done.

Responsibilities:
While recruiting the prospective advisors, the company believes that they are the ambassadors of
the company so they must be provided a quality training and extensive support from their
respective advisors so has to keep its differentiation strategies identify alive. They are one of the
key sources of the business for the company. That is why the company takes a lot of efforts in
recruiting and developing our advisor. To cater to the needs of the knowledge oriented
marketplace, company looks for graduates who are service oriented, good communication and
enjoy meeting new people prior sales experience in an added benefit.
As we all know that the penetration rate of insurance sector in the country is very less. Yet it is
one of the fastest growing service sectors after IT & telecommunication. In simple words, there
is still unawareness among the customers for which there is a need of huge amount of advisor
who can reach the untapped and unaware customers. According to the recent budget with
increase in FDI, limit in service sector and opening up of the gates for foreign insurance
provider, the unemployment rate in India is surely going to decline in the coming years.
Target as per the companies requirement
As per companies guidelines the company has divided the targets into various groups mentioned
below.
Chartered Accountant: - This is the main target as per the company‟s requirement. This is the
target group of the people core activity is of financial background, and it is considered as one
of the highest designation in the field of finance. Basic work of the C.A. is to look after the
auditing and filling of the returns. Along with that he also acts as the financial consultant
who guides the people about the way of investing their money fro getting higher returns and
for tax benefits. Moreover, if they become the advisor for the company, they can get the best
possible business for the company.
Tax & Financial Consultant: - They are the people who guide the people about the way of
investment for the purpose of the tax benefits & at the same time, they like to associate them
with some of the leading financial that are into some of the financial products. These people
are good target for the company as they can also get the good amount of the business done
for the company.
LIC & GIC Agents: They are the target groups who are on to the similar kind of the work
and having a good number of the customer base. For tapping them just company has to show
the need for joining ICICI prudential. Because by joining ICICI prudential they will be able
to provide number of variety of the products to their customer without diversifying their

present work and just providing guidance to their customer in selecting the best possible
product as per their requirement.
RETIRED & VRS People: - A person who has retired or taken VRS from the company can
work for a company that provides them features like no binding work as much as you want to
report tension. They are the target group that always looks forward for the opportunities to
earn their livelihood to be financial independent.
Housewives: - These are the target group that mainly looks after their household work.
However with increasing number of expenses in the growing economy with limited source of
bread earner, they are focusing into go for some look that best suites their working
environment. So these are the business that provides them the best possible chance for
earning a good amount of money.
HNI‟s:-They are the groups who belong to a very rich family and having a large number of
contacts and have capability of influencing their peer groups. They can be converted into
advisors as company runs programme for such kind of peoples through rewards& recognition
programme.
Students:-This target group mostly does not have any prior sales of marketing experience.
However as they are considered as the fresh blood in any industry they have that
determination to do something and secure a position for them. That is the main reason why
company is looking for the fresh graduates as their prospective advisors.
Others:- In this category company focuses on various target groups such as estate agents
professors, businessperson etc.
Understanding your customer relationship lifecycle while recruiting advisor
PRE-PURCHASE PURCHASE POST PURCHASE
KNOW
LEDGE
CONSI
DERAI
ON
SELEC
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SATIC
FACTI
ON
LOYA
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WARN
AESS

Viewing your customer relationship through the lens of the customer relationship lifecycle for
the prospective financial advisor it provides the insight into the various ways you interact with
prospect and customer.
Every customer/company relationship begins with awareness; here we have to create the
awareness among the prospects about the benefits of being an knowledge about various options
available to him & the knowledge about the company‟s past performance. At the next stage, i.e.
consideration he considers some factors and moves to the next stage of the cycle, i.e. selection
where he selects the particular company has over its competitors. At the next stage he measures
the satisfaction with the company and works up to mark and has some loyalty within himself for
the company.
Key is to understand your prospects and customers unique needs in each life cycle stage
especially as it relates to:
How to motivate prospects to move from initial awareness through to selection.
How to shorten the time it taken prospect to move from initial awareness through to
selection.
How to motivate customer to move from selection through to loyalty.
Improving stage to stage conversation positively influences key financial metrics.
Agency as a Profession:
To most persons life insurance is just one of the many avenues for financial outlay. When an
agent approaches a prospect with the proposal for life insurance, the chance are that a prospect
will no know much about the benefits under various plans. He may be vaguely familiar with the
alternatives available but it unlikely to be sure of the details of all of them. He would need expert
advice. If he sees the life insurance to the exclusion of other alternatives then that advisors
intentions and expertise would be suspect. On the country if he sees the advisor as one knows
about other alternatives and who is willing to take a note of the needs of the prospect, then that
advisor would have a better chance of persuading the prospect one way or the other. Many
advisors see the agency as a means to earn a living. They may spend only a part of the time on
insurance, being busy on the other work the rest of the time. Some advisors however try to study
and understand the business in the details and to improve their skills. They are trying to become
the best in the professions. They would be recognized as experts in the field.
To be able to advise the prospect on the best financial arrangements appropriate to his situations.
The advisor needs to be familiar with the alternative available in the market. He is also expected
to know in full benefits and the limitations of the various plans being offered by his company. A

good advisor is a good financial planner taking into account not merely the plans offered by the
company.
Procedure for becoming an advisor:
The insurance act, 1938 lays down that an insurance advisor must posses a license
under section 42 of that act .The license is to be issued by the IRDA. The IRDA has
authorized designated person, in each insurance company, to issue the license on the
behalf of the IRDA.
A license issued by the IRDA will be valid for three years .This license may be to act
an advisor or as a composite insurance advisor. No advisor is allowed to work for
more than one life insurance company or a general insurance company.
The qualification necessary before a license can be given are hat the person individual
or a corporate insurance advisor must.
1. Be at least 18 years old.
2. Have passed at least 12th
standard.
Have undergone the practical training at least 100 hours (50 hours from an MBA or general
insurance advisor)
Have passed the pre–recruitment examination conducted by IRDA India.
A person with the following disqualification is debarred from holding a license .He has been
found to be of unsound mound by a court of competent jurisdiction .HE has been found guilty of
the criminal breach of trust the license once used can be cancelled whenever the person acquires
disqualification.
Management Trainees Role:
As a management trainee we have to look for the prospective customer through program such as
Telecalling:
It is the one of the most important tool we have learned to use when its not your natural market
.Through telecalling ,we have to all the customers tell them about the business opportunity and if
possible fix an appointment or call them to office for individual BOP presentation . Following
mentioned is the illustration of the success rate that as a telecaller I had received .The hit rate
expected through this method was 1-2%.

Cold Canvassing:
This is one of the fastest method and effective tool to recruit advisor for the company. Under this
method trainees were sent out in field and they had to contact the general public. Along with
presentation of the opportunity tin the first contact initial screening were also done by the trainee.
They also had to gather the main was to create interest in the contacted person about the
opportunity and convince him to inform their respective unit managers and schedule an
appointment with that person. Unit managers helped the trainees to convince the person visiting
the office. The expected hit rate under this method was 5-6%.
Pamphlet Distribution:
Pre-printed pamphlets were given by the trainees to distribute in the market. These pamphlets
contained mysterious information about the opportunity. The information printed on the
pamphlets was made mysterious in order to create interest and excitement in the reader. Along
with this one more advantage of making it mysterious was the concealment of the fact that the
opportunity is in the field of insurance of insurance were printed on those pamphlets. This was
done with a view that if pre-printed number and accordingly can be convinced by the unit
manager.
Mass BPO Presentation:
We invited the large number of the prospective customers with a prior invitation to them to
attend the program,”PARIVARTAN”. After which our respective managers used to give the
presentation to the invites at our respective managers used to give the power point presentation,
after which they were told about the benefits that he never expected and got from the ICICI
prudential. Following given is the success rate of our team.
No of invites 50
No of audience present 10
No to invites who can‟t attend because of busy schedule 28
No of invites no interested 12
Individual BPO:
In this program we invited the individual customers for attending the program. It is very
successful because at a time we have to deal with one customer so that we are able to clear their
doubts.
The Hierarchy of the company:

HEAD OF SALE
TERRITORY MANAGER
SALES MANAGER
ASST. SALES MANAGER
AGENCY MANAGER
UNIT MANGER
ADVISOR
So the company gives the opportunity to the advisor to perform and climb the ladder.
My achievements in the training:
An achievement is something that can be counted or shown on the paper. However according to
me achievements are something that is materialistic. Because therecomplete SIP has been a
learning experience for me. After coming for SIP I came to know about so many things that one
is not going to learn in the book. By giving this statement, I do not want to say that knowledge
provided through books or in the college is of no use. However when it comes to practical

implementing the theories learnt in college or in kotler is difficult to implement. That is why
along with the bookish knowledge one must also be exposed to the real life situation for getting
idea of the real life situations. Following mentioned is my achievement.
Increasing in foreign countries. In India people by and know about life insurance but still have a
lot of wrong notions about it. Personal contacts by agents may continue to be necessary for quite
sometime.
Another method being attempted is the use of the extensive network of branches of banks. The
customers of both banks and life insurance are practically from the same segments of population.
Through the same contact the prospect can be helped to arrange for both band deposits and life
insurance. There would be saving in infrastructure costs and overheads. New insurer find this an
easy way access vast areas. It may be possible to develop composite products having the
elements of both life insurance and banking. These trends have to develop.
Products on the Finger Tips:
Insurance solutions for individuals:
ICICI prudential life insurance offers a range of innovative customer centric products that meet
the needs of customer at every life stage. Its 20 products can be enhanced with up to 6 riders to
create a customized solution for each policyholder.
Saving Solution:
Secure plus is a transparent and feature-packed saving plan that offers 3 level of protection.
Cash pls is a transparent feature packed saving plan that offers 3 levels of protection as well as
liquidity options.
Save n Protect is a traditional endowment saving plan that offers life protection along with
adequate returns.
Cash back is an anticipated endowment policy ideal for meeting milestone expenses like a child
marriage expenses for a child‟s higher education of purchase of an asset.
Life time &Life time II offer customer the flexibility and control to customize the policy to meet
the changing needs at different life stages. Each offer 4 fund options-preservers, balancer and
maximaiser.

Life link II is a single premium market linked insurance plan which combines life insurance
cover with the opportunity to stay invested in the stock market.
Premier life is a limited premium paying that offers customers life insurance cover till the age of
75
Invested shield life is market linked plan that provides capital guarantee on the invested premium
and declared bonus interest.
Invested shield cash is market linked plan that provide capital guarantee on the invested premium
and declared bonus interest along with flexible liquidity options.
Invested shield gold is a market linked plan that provides capital guarantee on the invested
premium and declared bonus interest along with limited premium payment terms.
Protection solutions.
Life guard is a protection plan offers life cover at very low cost. It is available in 3 options level
term assurance with return of premium and single premium.
Child plans
Smartkid education plans provide guarantee educational benefits to a child along with life
insurance cover for the parent who purchases the policy. The policy is designed to provide
money at important milestone in the child‟s life. Smart kid plans are also available in unit linked
form both single premium and regular premium.
Retirement solutions
Forever life is a retirement product targeted at individuals in their thirties.
Secure plans pension is a flexible pension plan that allows one to select between 3 levels of
cover.
Market Linked Retirement Products
Life time pension II is a regular premium market linked plan.
Life link pension II is a single premium market linked plan.

Invested shield pension is a regular premium pension plan with a capital guarantee on the
inventible premium and declared bonuses.
ICICI prudential also launched-Salaam Zindagi- a social group insurance policy targeted at the
economically underprivileged sections of the society.
Group Insurance Solutions
ICICI prudential also offers groups insurance solutions for companies seeking to enhance
benefits to their employees.
ICICI Pru Group Gratuity Plan: ICICI pru‟s group gratuity plan helps employers fund their
statutory gratuity obligation in scientific manner. These plans can also be customized to structure
schemes that can provide benefits beyond the statutory obligations.
ICICI Pru Group Superannuation Plan: ICICI pru offers a flexible defined contribution
superannuation scheme to provide a retirement kitty for each member of the group. Employees
have the options of choosing how various annuity options or opting for a partial commutation of
the annuity at the time of retirement.
ICICI Pru Group Term Plan: ICICI pru flexible group term solution helps provide affordable
cover to members of a group. The cover could be uniform or based on designation rank or a
multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the
member on his/her death.
Flexible Rider Options
ICICI pru life offers flexible riders, which can be added to the basic policy at a marginal cost
depending on the specific needs of the customer.
Accident & Disability Benefit: If death occurs as the result of an accident during the term of the
policy the beneficiary receives an additional amount equal to the sum assured under the policy. If
the death occurs while traveling in an authorized mass transport vehicle the beneficiary will be
entitled to twice the sum assured as an additional benefit.
Accident Benefit: This rider option pays the sum assured under the rider on death due to
accident.
Critical Illness Benefit: Protects the insured against financial loss in the event of 9 specified
critical illnesses. Benefits are payable to the insured for medical expenses prior to death.
An 18 day training schedule cover the company the mandatory IRDA training requirements and
ICICI prudential product-training module. Revision session ensure that eh candidate thoroughly
understand the course contents and are well prepared for the licensing examination. Theoretical
training is interspersed with practical appointment setting with potential customers giving
advisors a feel of how their business will work from the very first day. All through the unit

manager and the management provide continues support to the advisors in achieving
independence towards garnering business.
Career Benefits:
Tiger trainer: Advisors has the option of joining the company as a trainer.
Criteria of selections:
a) Age group 25-45
b) Minimum of 2 polices every month for at least one year.
c) Selected candidate have to clear an assessment centre before getting selected.
Mobile Tiger: Advisors had the options of joining the company as a part time trainer.
Criteria for selection:
a) Age group 25-45
c) Selected candidates have to clear an assessment centre before getting selected.
Pinnacle: Advisor has the option of joining the company as unit manager.
Criteria for selection:
a) Age group 25-45
Fast Track Pinnacle
Advisor has the option of joining the company as unit manager.
Criteria for selection
a) Age group 25-45
b) Minimum of 30 policies issued within a period of 6 month 10 licensed
advisors within a period of 3 months.
Advisor Loyalty Programme-Grand Perks

This is a unique loyalty programme for our performing advisors where qualifying advisors are
entitled for various benefits and privileges. There are 3 qualifying slabs.
This is an annual programme for the period of 1 year.
Grand Perk Silver Benefits:
Rewards Category
Website access
Call Centre Access
Accident Insurance worth 50K
Discount Coupon booklet once a year
Associate financial planner programme training available at a discounted cost.
Grand perks gold benefits:
Rewards category
Website access
Call centre access
Free pre-approved ICICI bank credit card with accident insurance worth 20 lakes
Discount coupon booklet twice a year.
Associate financial planner programme training available at a discounted cost (40%
discount) along with park sponsorship for the programme.
Valet service for booking of movie tickets arrangement and payment of utility bills.
Quarterly newsletter
Invites for special shows/ concerts/ plays twice a year
Personal development programs conducted by reputed professional
Fully loaded laptops available at company rates.
Grand perks plantinum benefits:
Rewards category
Website access
Call centre access
Free pre-approved ICICI bank credit card with accident insurance worth 20 lakhs
Discount coupon booklet twice a year
Associate financial planner programme training available at a discounted.
cost (40% discount) along with park sponsorship for the programe.

Quarterly newsletter
Invites for special shows/ concerts/ plays twice a year
Personal development programs conducted by reputed professional
Fully loaded laptops available at company rates
Personalized stationary items like visiting cards, letter heads etc.
Free subscription to insurance watch magazine.
Extra reimbursement up to 3.5% additional commission rates.
Advisor needs to be with ICICI pru for at least a period of 1 yrs to be eligible for
platinum club benefits.
International Recognition and Foreign trips-
A) President Club
This is the most prestigious recognition programme from ICICI pru the top 30
advisor in the country (10 with spouse) are eligible for the contest.
This programme is conducted by prudential Asia at an exotic foreign location every year 3n/d.
The qualifying period for the programme is from Jan-Dec every year
B) International Star Club
The top 225 advisors in the county (25 with spouse) are eligible for the contest.
This programme is conducted by ICICI prudential at an exotic foreign location.
The qualifying period for the programme is from Apr-Mar every year.
C) India Star Club
The top 225 advisors in the country (25 with spouse) are eligible for the contest.
The advisor are sent to a beautiful location in the country for a period of 3n/4d
Held every year between Apr-Mar
D) Debut Star Club
This is a contest for the new advisors licensed after Dec. 01. the period for the contest is April-
Sept.
75 advisors in the country are eligible for the contest
The advisors are sent to a beautiful location in the country for a period 2N/3D
Company Recognitions

Certificate of Excellence: The top 3 advisors of every branch are recognized for their excellent
performance for various qualifying criteria like
A) pension sales
B) no of lives
C) high net worth sales
These certificates are given every quarter.
BMS/ZM/HOS forums
The top advisors are invited to these forums every quarter and get a chance to interact with top
management and interchange views and ideas.
Other Benefits
Direct entry to grand Perk Platinum Club for COT/TOT advisors of competition who join
us by taking agency in the name of another family member.
Individual email Ids.
Segmented training programmes for advisors
SMS alerts for renewal premiums.
RESEARCH METHODOLGY
There are two types of research carried out for a study. It comprises of collection of data which
indicates that from where we has collected the data and what are the various methods of study.
They are:-
1. Primary Data Collection
2. Secondary Data Collection
Primary Research
It is that method in which the data is collected for the first time and not done by any other
person previously. It involves direct market survey, Questionnaires, Personally meeting or
Telephonic interviews etc.

Secondary Research
It is that method in which the data is borrowed from the various sources like newspapers
Books, Institutions, Internet, Company journals etc.
This methodology is prepared for the project report with the help of the information collected
from:-
1. College Library, Dehradun.
2. Newspapers, Internet, and Magazines
Smapelling Method:
In this project report I have used simple random sampling and quota sampling method for
appropriate study of the project.
Simple random sampling method:-
It is that method which is used for interviewing the customers for selection directly on a
random basis.
Quota sampling method:-
It is that method which is used for representing other units from which the information has
been collected. It is also contains some biased questions.
Developing the research Plan:

Once the task is identified the next step is to prepare a plan for getting the information.
Collection of Data:
Primary Data:
This type of data does not exist. It is originated by primary sources like personal interaction or
feedback forms or questionnaires which act as a tool for collecting data.
Secondary Data:
This type of data already exist & is used to generate information as per required examples of
such type of data are journals magazines etc.
Tools Used:
As a management trainee we have to look for the prospective customers through application of
various tools such as
Tele calls
It is the one of the important tools that we learned to use when it‟s not your natural market.
Through telecalling we have to cal the customers‟s and tells them about the business opportunity
and if possible fix an appointment or call them to office for the individual BOP presentation.
Cold Canvassing:
This is one of the fastest method and effective tool to recruit advisors for the company. Under
this method, trainees were sent out in field an they had to contact the general public. Along with
the presentation of the opportunity in the first contact, initial screening were also done by the
trainees. They also had to gather the main aim was to create interest in the contacted person
about the opportunity and convince him to inform their respective unit managers and schedule an

appointment with that person. Unit managers helped the trainees to convince the person visiting
the office. The expected his rate under this method was 5-6%.
Pamphlet Distribution
Pamplet Distribution
Pre-printed pamphlets were given to the trainees to distribute in the market. These pamphlets
contained mysterious information about the opportunity. The information printed on the
pamphlets was made mysterious in order to create the interest and excitement in the reader.
Along with this one more advantage of making it mysterious was the concealment of the fact that
the opportunity is in the field of insurance of insurance and is provided by ICICI prudential.
Phone numbers of the unit managers were printed on those pamphlets. This was done with a
view that if pre-printed number and accordingly can be convinced by the unit manager.
Private Sector gaining market Share
Postage (Innovative Method)
This was an Innovative method used byme. Normally there is no scope of door to door meet to
the high profile customers to make them Advisors. So, I selected a residential plot where the
people were potentially targeted to make them Advisors. I prepared an attractive format and
mailed them at their postal address. I received a good response, as the people called on the
prescribed number, and most of them were convinced and converted as Financial Advisors.

OBSERVATION & ANALYSIS
Chapter-11
Life Insurance
It was really a great experience working with such a competitive sector.
During this project training I minutely experienced the market and the company, and found that
there are many things which an Individual as an employee of Insurance sector should be proud
of. The details as mentioned below:
If we try to question that, why we get a rebate on our taxes while investing in the Insurance
sector, keeping the economic factor constant that answers the question?
The Insurance sector employees are into the sale of something which is very useful for
any customer. Any insurance is undertaken with the view of safety and well-being. So in
insurance sector we provide something that will always be a benefit to the other person.
So it concludes that the Insurance Sector has a social moral attached to its business
activity.
No wonder we find a huge rebate to the investors and also to the company in terms of
taxes.
That‟s the basic reason which remains unsaid but still known the insurance employees, and no
wonder the Insurance employees feel proud to be a part of Insurance Sector.
ICICI Prudential Life Insurance and ICICI Bank have launched a pre-paid annuity card, which is
considered to be the first such initiative in the pension segment.
This international card will allow pensioners to withdraw cash at ICICI Bank and VISA ATMs
and make purchases at several merchant establishments. Customers will also get a monthly

statement just like with a debit or credit card. The policyholders do not have to open an ICICI
Bank account for availing themselves of the card.
An annuity is a contract sold by an insurance company designed to provide payments to the
policyholder at specified intervals, usually after retirement. An ICICI Prudential Life annuity
policy will offer a return of 8.5 per cent without the return of premium.
Ms Shikha Sharma, MD and CEO, ICICI Prudential, said the company would target its current
group superannuation customers as well as companies that self-manage their superannuation
funds with this retail offering.
Most pensioners receive their pension through cheques, which must be deposited in a bank
account to access as cash.
Research by the company
According to research conducted by ICICI Prudential, delays in receiving the cheque, the process
of getting the cheque cleared as well as security issues of handling cash were pointed out as
among the problems faced by pensioners.
The annuity card will smoothen this process by electronically crediting the card with the defined
pension as per the specification - monthly, quarterly or annually. The limit on the card will hence
be the credited annuity amount. However, only the first three transactions in a month will be
without any additional charges.
The bank is working on offering reward points on the annuity card just like other debit or credit
cards.
According to Ms Chanda Kochhar, Executive Director, ICICI Bank, additional facilities such as
making utilities payments using the annuity card are also being considered
Pru ICICI Emerging STAR-G
Latest NAV 23.45 (22/09/07)
52-Week High 28.03 (10/05/07)
52-Week Low 16.06 (28/10/05)
Fund Category Equity: Diversified
Type Open End
Trailing Returns
As on 22 Sep 2007 Fund Category
Year to Date 15.80 18.76
1-Month 1.43 4.63
3-Month 12.09 14.78

Launch Date October 2004
Risk Grade Not Rated
Return Grade Not Rated
Net Assets (Cr) 921.58 (31/08/07)
Benchmark Nifty Junior
1-Year 33.69 35.51
3-Year -- 48.71
5-Year -- 46.15
Return Since Launch 54.32 --
Returns up to 1 year are absolute and over 1
year isannualized.
Relative Performance (Fund Vs Category Average)
Life Insurance overview in India:

Life insurance market
In-force premium INR 426.4b
FY‟07**new premiums INR 131.2b
Total premiums INR 557.6b
Top 5 players
Life insurance Company in India
ICICI Prudential
Birla Sun Life
Bajaj Allianz
** April 2006-March 2007 HDFC Standard
“Strictly confidential and for private circulation only”
Retail Market Share: Private Players

“Strictly confidential and for private circulation only”
1%1%
36%
9%14%
8%
11%
2%
6%
4% 5% 3%
Sanmar
AMP
ICICI PRU
HDFC STD.LIFE
BIRLA SUNLIFE
TATA AIG
ALLIANZ BAJAJ
LIFE
MAX NEWYORK
OM KOTAK
AVIVA
ING VYSYA

The Insurance Opportunity in India
Source: Swiss Re, Economic Research & Consulting 2006
The Indian insurance sector is under penetrated in both the life & general insurance segments.
Rapid expansion of Distribution
We have created a large – scale, nationwide distribution network
14.8
11.6 9.5
4.8 3.3 3.3 2.9
16
14
12
10
8 6 4
0
5
10
15
20
25
30
35
U
nited
K
ingdom
South
Korea
U
nited
S
tatesM
alasiyaThailand
india
china Genral insurance
Life insurance
Premium as a % of GDP

March 2003 March 2004 March 2005 March 2006
Location
Branches
Advisors
Bank
Relationships
FSC
CA
Relationship
13
14
10000
25
29
18000
54
70
33000
69
102
56300
7
1036
150+
 Initial years , emphasis was on expanding the reach
 Now, penetrating those cities for increasing market share
 Focus on sales and service processes to achieve higher
Penetration into high networth (HNW) segment.
FINDINGS
Chapter-12
While recruiting advisors for ICICI Prudential we have to look for the prospect that has to fulfill
the mentioned criteria:
Age above 18 years
He / she must be maximum graduate and minimum as H.S.C.
He/she must resident in Haldwani.
They gave me criteria for advisors I have to recruit the students service people
businessman and housewife

The profile should be like CA,CS and Tax consultant and LIC agents
To know what is the people thinking about ICICI prudential life insurance
If he satisfies any two above mentioned points he is eligible for the post of financial advisor. The
field of insurance is the challenging job by far the most interesting job the mantra to succeed in
this business is you recruit the right candidate profile and be able to take the right activities done
by him at the right and motivate him from time to time to get the business done.
During the project work it was found that the interested advisors can be divided into few
categories:
I found that the modern customers are not inclined only to the Life Insurance Corporation
of India, as it was the case few years back. They are more open-minded with logical
thinking.
People who are well settled were more interested to be the financial advisors.
Housewife were hesitant to involve themselves as Advisors, but as they become the
advisors,they prove to the major source of business, the statistics says they bring major
portion of policies as compared to employed working males.
It was also found that once the training for the Advisors are over the advisors are more
efficient, active and confident.
I also experienced that major of the policies come between the month of November to
April, its because the people are more inclined in these months to invest for the Tax
Saving purpose.
So, it can be said that the policies which have short & medium term return will be more
successful in the market.
Limitations
It was a great time working with ICICI Prudential. There are hardly any limitations which I find.
But still there are few which in my views can be taken care of.
Those limitations are mentioned as follows:-
The customers are the key for any sector.So it‟s important that their mindset and thinking
is observed minutely and worked on, before we focus on the product. In the potential

market 40% to the population is illiterate .they still believed that LIC is only company
where the money can be invested safely.
In the rural areas there are people who take policies. In my views the companies have not
made its reach into the rural areas. Few financial advisors in every bifurcated rural India
can generate huge business.
Policies are no doubt excellent that are provided by Prudential. In my views value
addition is the key for success and growth in the current business marked. Like, quarterly
gatherings, or invitation for tea party to the existing and potential customers, will help in
goodwill and will attract new customers.
These are only the few limitation that could be highlighted; every aspect of the project work and
the company was to its perfection.
CONCLUSION
All over India, the insurance industry is being transformed by deregulation
Consolidation and by the convergence of financial services. Cutting edge
Services which can enrich customer experience at lower costs are today at a
Premium.Insurer need to be able to harness new distribution channels.
They must develop and sell new products which are complex and the same time flexible .they
must be online and in real time to leverage any strategic competitive advantage in this time of
flux.

As far as ICICI Prudential is concerned it can be stated that through its excellent support and
aggressive marketing style, ICICI Prudential has shown a noticeable increase in the market
share. Recruitment of financial advisors is a vitial work for the company because these recruities
bring business to the company. However there are some areas where the company in not at the
top most position but its generating up and is committed to acquire that spot.
RECOMMENDATIONS
During out training we came to much observation that was the pitfalls or the hurdles in out work.
Even though the company ranks first in the private life insurance sector, there were some areas
on which the company was lacking and following are the suggestions to the company.
1. conducting the mass BOP: When the company conducted mass business opportunity
presentation in the month in the same month many of its competitors also conducted the BOP
in which they made very high expenses on programme through various modes of
communication such as from radio cable TV ads in the newspaper etc. when it came to ICICI
Prudential side they the prospect through courier. The result was that the number of the
prospects attended the programme of ICICI prudential was very less than that of its
competitors. For this the suggestions is that the company must promote such programme
through various Medias for making it successfully.
2. Conducting various programmes: When it comes to societal marketing or conducting various
programme to create the brand awareness they we are lacking on this parts too. Many of its
competitors conducted programmes such as drawing competitions sponsoring various
functions etc. the company must also conduct such programme as it will indirectly promote
its products and help them in making the brand building.

3. Tie up with placement consultants: the company must tie up with some placement through
which it will be able to find the proper profile candidate as an advisor. At the same the
consult will be getting so many prospects that are looking for the job.
4. Increasing the scope for its pinnacle programme: ICICI prudential is the only company that is
conducting the programme called pinnacle, which provides the chance to one how wants to
enter the company as a part of its employee. According to this programme one has to be an
advisor and after which he has to login 30 polices within the time span of six months after
which he will be sent to trainer on the pay role of the company. The company can increase
the programme according to the performance of the unit manager. While working with the
company for almost four month and being in the system I fill that the company can increase
the level of the pinnacle programme. In addition through which it can provide the advisor to
climb the ladder as per target completed.
SUGGESTIONS FOR CUSTOMERS
ICICI Prudential life insurance is one of the most trusted insurance companies which launch
various schemes for various types of people. The following are. The suggestions in the form of
the guidelines which will be helpful for all the types of the customers who are covered by the
insurance policies. They are:-
1. The policy should help the people„s future by saving the money for their family.
2. The insurance policy should protect the people‟s future in case of the emergency and also in
financial losses.
3. The policy holder must get the assured sum of money as per the various insurance plans.
4. To pay the entire sum of money to the deceased person in case if policy holder dies during
the term of policy.
BIBLOGRAPHY

HR project on recruitment, selection of financial advisor and bancassurance

HR project on recruitment, selection of financial advisor and bancassurance

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