This project report is all about recruitment and selection process of Kotak mahindra life insurance. This is an summer internship project report made by me for the requirement of BBA Course.

1. IN COMPANY TRAINING REPORT
ON
“RECRUITMENT AND SELECTION PROCESS OF
KOTAK MAHINDRA LIFE INSURANCE”
COMPLETED IN
KOTAK MAHINDRA LIFE INSURANCE
SUBMITTED IN THE PARTIAL FULFILLMENT OF THE REQUIREMENT OF
BACHELOR OF BUSINESS ADMINISTRATION (BBA)
GURU NANAK DEV UNIVERSITY
TRAINING SUPERVISOR SUMBITTED BY
Jaswindra Bindra Roneet Kumar
(Branch Manager) Enrollment No. 10541202202
Batch:2012-2015
GURU NANAK DEV UNIVERSITY, AMRITSAR

2. DECLARATION
This Project Report is submitted at Guru Nanak Dev University, Amritsar towards “In-
Company Training & Project Report (BBA – 6th Semester) for the partial fulfillment of
Degree of Bachelor of Business Administration (BBA).
I, hereby declare that this is the original work done and the information provided in the
Project Report is authentic and not copied from anywhere and neither submitted in any
other degree / diploma programme.
Signature of Student

3. ACKNOWLEDGEMENT
I express my sincere thanks to all the faculties for guiding me right from the inception till
the successful completion of the project. I sincerely acknowledge them for extending her
valuable guidance, support for literature, critical reviews of the project. I thank her for the
much needed timely advice and suggestion that she has provided. She has also helped me
to understand the theories of Human Resource.
I consider it a pleasant duty and take the opportunity to express my heartfelt appreciation,
gratitude and indebtedness to Ms. Jaswinder Bindra for her keen interest, invaluable pains
taking & excellent guidance, patience, endurance, encouragement & thoughtful advice
for the project work. She has been instrumental in making me understand the procedures
and policies of Kotak Mahindra Life Insurance. Her kind support and guidance
throughout the course of this project has helped me to complete my work effectively and
efficiently.
I feel gratitude for my family members for their moral support and help which they
provided me during the course of project work. I am also thankful to my friends who
gave me continuous inspiration to complete this project successfully.
Roneet Kumar

4. EXECUTIVE SUMMARY
Someone has greatly said that practical knowledge is far better than classroom teaching.
During this project fully realized this and come to know about the present real world of
insurance. Since it include all the activities involved in selling insurance products directly
to financial customers. Pleased to know about the customer’s wants and various activities
in the real world of insurance product. The Subject of the study is “Recruitment and
Selection process in Kotak Mahindra life insurance.”
The objective of my project is “Recruitment and Selection process” in Kotak Mahindra
Life Insurance (a leading insurance organization) and determines the satisfaction level
of the training among the Agents in the company. This project report is a review based on
theory as well as research.
To accomplish the above, around 100 Agents of Kotak Mahindra Life Insurance were
surveyed and interviewed. The core purpose of the survey was to find out employee
perspective towards the training (mainly induction) that are given to t hem.
The report is made useful for readers by incorporating Suggestions and
Recommendations for all concerned on how to make a grand success of training process
followed by their organizations.

5. TABLE OF CONTENTS
Chapters Page No.
1. Introduction
1.1 Overview of Industry as a whole 1-7
2. Profile and Organisation structure of the company
o Origin 8-14
o Recent Achievements 14-16
o Mission & Vision 16-17
o Products 17-21
o Organisational Structure 22-29
2.2 Introduction to the topic 30-40
3. Objective 41
3.1 Objectives of the study
4. Research Methodology 42-44
o Research Design
o Sources of Data
o Sampling Techniques
o Sample Size
o Methods of Data Collection
o Tools and Techniques of Analysis
o Limitations of the Study
5. Data Analysis and Interpretation 45-54
6. Findings 55
7. Recommendations 56
ANNEXURES
BIBLIOGRAPHY

6. CHAPTER 1
INTRODUCTION

7. 1.1 OVERVIEW OF INDUSTRYAS WHOLE
Industry profile
The insurance industry in India can broadly classify in two parts. They are.
1) Life insurance.
2) Non-life (general) insurance.
1) Life insurance:-
Life insurance can be defined as “life insurance provides a sum of money if the
person who is insured dies while the policy is in effect”.
In 1818 British introduced to India, with the establishment of the oriental life
insurance company in Calcutta. The first Indian owned Life Insurance Company; the
Bombay mutual life assurance society was set up in 1870. The life insurance act, 1912
was the first statuary measure to regulate the life insurance business in India. In 1983, the
earlier legislation was consolidated and amended by the insurance act, 1938, with
comprehensive provisions for detailed effective control over insurance. The union
government had opened the insurance sector for private participation in 1999, also
allowing the private
Companies to have foreign equity up to 26%. Following the opening up of the
insurance sector, 12 private sector companies have entered the life insurance business.
Benefits of life insurance:
1. Life insurance encourages saving and forces thrift.
2. It is superior to a traditional savings vehicle.
3. It helps to achieve the purpose of life assured.
4. It can be enchased and facilitates quick borrowing.
5. It provides valuable tax relief.

8. Thus insurance is found to be very useful in the lives of the person both in short term and
long term.
Fundamental principles of life insurance contract:-
1) Principle of almost good faith:
“A positive duty to voluntary disclose, accurately and fully, all facts, material to
the risk being proposed whether requested or not”.
2) Principle of insurable interest:
“Relationships with the subject matter (a person) which is recognized in law and
gives legal right to insure that person”.
2) Non-life (general) Insurance:-
Triton insurance co. ltd was the first general insurance company to be established in
India in 1850, whose shares were mainly held by the British. The first general insurance
company to be set up by an Indian was Indian mercantile insurance co. Ltd., which was
stabilized in 1907. There emerged many a player on the Indian scene thereafter.
The general insurance business was nationalized after the promulgation of General
Insurance Corporation (GIC) OF India undertook the post-nationalization general
insurance business.
A Brief History of Insurance Sector:
Insurance in India can be traced back to the Vedas. For instance, yogakshema, the name
of Life Insurance Corporation of India's corporate headquarters, is derived from the Rig
Veda. The term suggests that a form of "community insurance" was prevalent around
1000 BC and practiced by the Aryans. Burial societies of the kind found in ancient
Rome were formed in the Buddhist period to help families build houses, protect
widows and children.
Bombay Mutual Assurance Society, the first Indian life assurance society, was formed
in 1870. Other companies like Oriental, Bharat and Empire of India were also set up in

9. the 1870-90s. It was during the swadeshi movement in the early 20th century that
insurance witnessed a big boom in India with several more companies being set up. The
Insurance Act was passed in 1912, followed by a detailed and amended Insurance Act
of 1938 that looked into investments, expenditure and management of these companies'
funds. The insurance sector in India has come a full circle from being an open
competitive market to nationalization and back to a liberalized market again.
Tracing the developments in the Indian insurance sector reveals the 360-degree turn
witnessed over a period of almost 190 years.
The business of life insurance in India in its existing form started in India in the year
1818 with the establishment of the Oriental Life Insurance Company in Calcutta.
Some of the important milestones in the life insurance business in India are shown
in the table below:
The General insurance business in India, on the other hand, can trace its roots to the
Triton Insurance Company Ltd., the first general insurance company established in the
year 1850 in Calcutta by the British.
For years thereafter, insurance remained a monopoly of the public sector. It was only
after seven years of deliberation and debate - after the RN Malhotra Committee report of
1994 became the first serious document calling for the re-opening up of the insurance
sector to private players -- that the sector was finally opened up to private players in
2001.
The Insurance Regulatory & Development Authority, an autonomous insurance regulator
set up in 2000, has extensive powers to oversee the insurance business and regulate in a
manner that will safeguard the interests of the insured. The history of life insurance in
India dates back to 1818 when it was conceived as a means to provide for English
Widows. Interestingly in those days a higher premium was charged for Indian lives than
the non-Indian lives as Indian lives were considered more risky for coverage.

10. The Bombay Mutual Life Insurance Society started its business in 1870. It was the first
company to charge same premium for both Indian and non-Indian lives. The Oriental
Assurance Company was established in 1880. The General insurance business in India,
on the other hand, can trace its roots to the Triton (Title) Insurance Company Limited, the
first general insurance company established in the year 1850 in Calcutta by the British.
Till the end of nineteenth century insurance business was almost entirely in the hands of
overseas companies.
Insurance regulation formally began in India with the passing of the Life Insurance
Companies Act of 1912 and the provident fund Act of 1912. Several frauds during 20's
and 30's sullied insurance business in India. By 1938 there were 176 insurance
companies. The first comprehensive legislation was introduced with the Insurance Act of
1938 that provided strict State Control over insurance business. The insurance business
grew at a faster pace after independence. Indian companies strengthened their hold on
this business but despite the growth that was witnessed, insurance remained an urban
phenomenon.
The Government of India in 1956, brought together over 240 private life insurers and
provident societies under one nationalized monopoly corporation and Life Insurance
Corporation (LIC) was born. Nationalization was justified on the grounds that it would
create much needed funds for rapid industrialization. This was in conformity with the
Government's chosen path of State lead planning and development.
The (non-life) insurance business continued to thrive with the private sector till 1972.
Their operations were restricted to organized trade and industry in large cities. The
general insurance industry was nationalized in 1972. With this, nearly 107 insurers were
amalgamated and grouped into four companies- National Insurance Company, New India
Assurance Company, Oriental Insurance Company and United India Insurance Company.
These were subsidiaries of the General Insurance Company (GIC).

11. Indian federal government considers insurance as one of major sources of funds for
infrastructure development. The government has identified the following as major thrust
areas:
* Timely and reliable statistical data and information about policies and markets to instill
a degree of credibility;
* A code of good practices based on international best practices to raise the standard of
Indian insurance sector;
* Strengthening of supervision and regulation;
* Market participation in decision-making;
* High solvency standard' and Developing alternative channels.
Till end of 1999-2000 fiscal years, two state-run insurance companies, namely, Life
Insurance Corporation (LIC) and General Insurance Corporation (GIC) were the
monopoly insurance (both life and non-life) providers in India. Under GIC there were
four subsidiaries-- National Insurance Company Ltd, Oriental Insurance Company Ltd,
New India Assurance Company Ltd, and United India Assurance Company Ltd. In fiscal
2000-01, the Indian federal government lifted all entry restrictions for private sector
investors. Foreign investment insurance market was also allowed with 26 percent cap.
GIC was converted into India's national reinsure from December, 2000 and all the
subsidiaries working under the GIC umbrella were restructured as independent insurance
companies.
Indian Parliament has cleared a Bill on July 30, 2002 de-linking the four subsidiaries
from GIC. A separate Bill has been approved by Parliament to allow brokers,
cooperatives and intermediaries in the sector. Currently insurance companies- both
private and public-- have to cede 20 percent of its reinsurance with GIC. GIC is planning
to increase re-insurance premium by 20 percent which works out at Rs 3000 cr. GIC is
actively considering entry into overseas markets including West Asia, South-east Asia
and SAARC region.

12. Insurance Sector Reforms:
In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor R.
N. Malhotra, was formed to evaluate the Indian insurance industry and recommend its
future direction.
The Malhotra committee was set up with the objective of complementing the reforms
initiated in the financial sector.
The reforms were aimed at “creating a more efficient and competitive financial system
suitable for the requirements of the economy keeping in mind the structural changes
currently underway and recognizing that insurance is an important part of the overall
financial system where it was necessary to address the need for similar reforms…”
 IRDA – INDUSTRIAL DEVELOPMENT AND REGULATION ACT,
Insurance Regulatory and Development Authority (IRDA) is an autonomous apex
statutory body which regulates and develops the insurance industry in India. It was
constituted by a Parliament of India act called Insurance Regulatory and Development
Authority Act, 1999 and duly passed by the Government of India.
The agency operates from its headquarters at Hyderabad, Telangana where it shifted
from Delhi in 2001.
IRDA batted for a hike in the foreign direct investment (FDI) limit to 49 per cent in the
insurance sector from the erstwhile 26 per cent. The FDI limit in insurance sector was
raised to 49% in July 2014.
HISTORY OF IRDA
The IRDA Act, 1999 was passed as per the major recommendation of the Malhotra
Committee report (7 jan,1994) which recommended establishment of an independent
regulatory authority for insurance sector in India. Later, It was incorporated as a statutory
body in April, 2000. The IRDA Act, 1999 also allows private players to enter the

13. insurance sector in India besides a maximum foreign equity of 26 per cent in a private
insurance company having operations in India. The Insurance Bill proposes to raise the
FDI limit in insurance sector to 49%. Proposed by UPA government in July 2013, it is
still pending discussion in Rajya Sabha. It serves as an Authority to protect the interests
of holders of insurance policies, to regulate, promote and ensure orderly growth of the
insurance industry and for matters connected therewith. IRDA role is to protect rights of
policy holders & they provide registration certification to life insurance companies &
responsible for renewal, modification, cancellation & suspension of this registered
certificate.

14. CHAPTER 2
PROFILE AND ORGANISATION STRUCTURE OF THE
COMPANY

15. Kotak Mahindra Life Insurance
 Origin
Kotak Mahindra is one of India's leading financial organizations, offering a wide range of
financial services that encompass every sphere of life. From commercial banking, to
stock broking, to mutual funds, to life insurance, to investment banking, the group caters
to the diverse financial needs of individuals and corporate.
The group has a net worth of over Rs. 6,523 crores and has a distribution network of
branches, franchisees, representative offices and satellite offices across cities and towns
in India and offices in New York, London, San Francisco, Dubai, Mauritius and
Singapore. The Group services around 6.2 million customer accounts.
Brief history:
Kotak Mahindra group, established in 1985 by Uday Kotak, is one of India’s leading
financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd.
(KMFL), the Group’s flagship company, received a banking license from the Reserve
Bank of India (RBI). With this, KMFL became the first non-banking finance company in
India to be converted into a bank – Kotak Mahindra Bank Limited (KMBL).
In a study by Brand Finance Banking 500, published in February 2014 by the Banker
magazine (from The Financial Times Stable), KMBL was ranked 245th among the
world’s top 500 banks with brand valuation of around half a billion dollars ($481 million)
and brand rating of AA+.[2] [3] KMBL is also ranked among the top 5 Best Ranked
Companies for Corporate Governance in IR Global Ranking.

16. Year Milestone
1986 Kotak Mahindra Finance Limited commences bill discounting business
1987 Kotak Mahindra Finance Limited enters leasing and hire purchase business
1990 Starts the auto finance division for financing passenger cars
1991 Launches investment banking business
1992 Enters the funds syndication business
1995
Commenced joint venture with Goldman Sachs Group Inc.
Investment Banking division incorporated into a separate company - Kotak
Mahindra Capital Company
1996
The auto finance business is hived off into a separate company - Kotak Mahindra
Prime Limited (formerly known as Kotak Mahindra Primus Limited).
Kotak Mahindra takes a significant stake in Ford Credit Kotak Mahindra Limited,
for financing Ford vehicles.
1998
Launches mutual fund through Kotak Mahindra Asset Management Company
(KMAMC).
2000
Kotak Securities launches online broking business (now
www.kotaksecurities.com[5]).
2001 Launches insurance business, partners Old Mutual plc to form Kotak Mahindra Old

17. Mutual Life Insurance Ltd.
2003
Kotak Mahindra Finance Ltd. (KMFL), the group's flagship company, receives
banking license from the Reserve Bank of India (RBI). With this, KMFL becomes
the first non-banking finance company to be converted into a commercial bank -
Kotak Mahindra Bank Ltd.
2004 Enters alternate assets business with the launch of a private equity fund.
2005
Kotak Mahindra Group realigns joint venture in Ford Credit; takes 100%
ownership of Kotak Mahindra Prime (formerly known as Kotak Mahindra Primus
Limited) and sells its stake in Ford credit Mahindra to Ford.
2005 Launches a real estate fund
2006
Buys out Goldman Sachs' equity stake in Kotak Mahindra Capital Company and
Kotak Securities Ltd.
2008 Launched a Pension Fund under India's National Pension System (NPS)
2009
Kotak Mahindra Bank Ltd. opens a representative office in Dubai
Kotak Mahindra Bank Ltd. becomes anchor investor in Ahmedabad Commodities
Exchange (ACE)
AWARDS AND RECOGNITION
 Won ‘Gold Award for Best Innovation – World’s first socially powered bank
account’ and ‘Gold Award for Best App developed – World’s first banking
application using Twitter’ awards at the Indian Digital Media Awards 2014 for Kotak
Jifi
 Recognised as Highest Fundraising Company in Corporate Challenge category in
Standard Chartered Mumbai Marathon 2014
 Kotak Mahindra Bank was ranked 292nd among India's most trusted brands
according to the Brand Trust Report 2012, a study conducted by Trust Research
Advisory. In the Brand Trust Report 2013, Kotak Mahindra Bank was ranked 861st

18. among India's most trusted brands and subsequently, according to the Brand Trust
Report 2014, Kotak Mahindra Bank was ranked 114th among India's most trusted
brands.[6]
 Adjudged Best Bank among Emerging Banks at Outlook Money Awards 2013
 Adjudged Best Medium Sized Bank of the Year 2013 by BusinessWorld
 Kotak Junior ad film adjudged Best Banking Ad Worldwide 2013, by Bank
Innovation – a leading global blog on banking
 Won Asian Banker’s IT Award in Best Self Service category for Courtesy Call Back
feature
 Won ‘Platinum for Innovation – World’s first Twitter Enabled Banking Product’,
‘Gold for Best Usage of Viral Marketing’, ‘Gold for Best Usage of Social Media’,
‘Gold for Best Usage of Digital Marketing’ and ‘Gold for Best Digital Strategy’ at
Campaign India Digital Crest Awards 2013 for Kotak Jifi
 Won EMC Transformer Award 2013 for innovative implementation of storage
technologies in the Bank
 Won National Securities Depository Ltd. (NSDL) award in the Best Performer in
account Growth Rate category 2013, for Demat Accounts.

19. Kotak’s Corporate Identity
Kotak Mahindra Old Mutual Life Insurance Ltd.
Kotak Mahindra Old Mutual Life Insurance is a 74:26 joint venture between Kotak
Mahindra Bank Ltd. and Old Mutual plc. Kotak Mahindra Old Mutual Life Insurance is
one of the fastest growing insurance companies in India and has shown remarkable
growth since its inception in 2001.
Old Mutual, a company with 160 years experience in life insurance, is an international
financial services group listed on the London Stock Exchange and included in the FTSE
100 list of companies, with assets under management worth $ 400 Billion as on 30th
June, 2006. For customers, this joint venture translates into a company that combines
international expertise with the understanding of the local market.
The Kotak Mahindra group
The Kotak Mahindra group is one of India’s leading banking and financial services
organizations, with offerings across personal financial services; commercial banking;
corporate and investment banking and markets; stock broking; asset management and life
insurance.
Kotak Mahindra believes in offering its customers a lifetime of value. A commitment that
has made it a leading financial services group with a net worth of over Rs. 3,200 crore,
employing around 10,800 people in its various businesses and has a distribution network
of branches, franchisees, representative offices and satellite offices across 300 cities

20. and towns in India and offices in New York, London, Dubai, Mauritius and Singapore.
The Group services around 2.6 million customer accounts. Old Mutual plc is an
international savings and wealth management company based in the UK. Originating in
South Africa in 1845, the group has a balanced portfolio of businesses offering asset
management, life assurance, banking and general insurance services in over 40 countries,
with a focus on South Africa, Europe and the United States, and a growing presence in
Asia Pacific. The group aims to provide consistent strong investment performance to
customers through diversified risk exposure and superior returns. By conducting its
business worldwide under its core values of integrity, respect and accountability, Old
Mutual aspires to push beyond boundaries to drive value for all its stakeholders. Old
Mutual is the 37th largest company in the FTSE100 with a market cap of approximately
£10 billion and is listed on the London, Johannesburg and Stockholm stock exchanges. It
has 53,000 employees worldwide. For the quarter ended 31st March 2007, the group
reported an increase in adjusted operating profit of 5% to £398 million (IFRS basis) and
had £249 billion of funds under management. For customers, this joint venture translates
into a company that combines international expertise with the
Understanding of the local market.
Old Mutual plc
Old Mutual, a company, is an international financial services group listed on the London
Stock Exchange and included in the FTSE 100 list of companies, with assets under
management worth $ 400 Billion as on 30th June, 2006. For customers, this joint venture
translates into a company that combines international expertise with the understanding of
the local market
Originating in South Africa in 1845, Old Mutual plc is a world-class international savings
and wealth management company based in the UK with 160 years experience in life
insurance. The group has a balanced portfolio of businesses offering Asset Management,
Life Assurance, Banking and General Insurance Services in over 40 countries, with a
focus on South Africa, Europe and the United States, and a growing presence in Asia
Pacific. Old Mutual plc employs approximately 54,000 employees worldwide with its

21. primary listing on the London, secondary listing on the Johannesburg stock exchanges
as well as in Namibia, Malawi and Zimbabwe. The Old Mutual Group has the ability to
cater for a variety of consumer segments and offers a comprehensive and innovative
range of products for all income groups
Kotak Mahindra Old Mutual Life Insurance Ltd
Kotak Mahindra Old Mutual Life Insurance Ltd is a joint venture between Kotak
Mahindra Bank Ltd., its affiliates and Old Mutual plc. A company that combines its
international strengths and local advantages to offer its customers a wide range of
innovative life insurance products, helping them in taking important financial decisions at
every stage in life and stay financially independent. The company is one of the fastest
growing insurance companies in India and has shown remarkable growth since its
inception in 2001. Kotak Life Insurance employs around 5,565 people in its various
businesses and has 197 branches across 141 cities.
 RecentAchievements of Kotak Mahindra life insurance
Kotak Mahindra Old Mutual Life Insurance Limited was established in 2000 as a joint
venture between Kotak Mahindra Bank Ltd and affiliates (KMBL holds a share of 74% in
the JV) and Old Mutual plc, London (26%) Kotak Mahindra Old Mutual Life Insurance
Limited,, has announced a growth of 71 per cent in its first year premium income (YTD
August 2004). From a premium income of Rs21.14 crore in YTD August 2003, the
insurance company has posted an income of Rs36.30 crore in YTD August 2004.
Commenting on the performance, Shivaji Dam, managing director of Kotak Life
Insurance said, "We are maintaining a consistency in our performance to enable us to
achieve our target of 100 per cent growth this year. A 71 per cent growth over last year as
on August is a milestone in itself. With the Indian insurance market on an upward trend,

22. the company has now shifted to an aggressive growth path. The building blocks now well
in place are beginning to deliver; we have grown faster than the private sector average.
The key drivers for this growth have been the customer-oriented products, world-class
training modules for our life advisors, a renewed focus on upper and middle class target
segments, our geographical mapping-distribution channels and the fund performance."
With 1,000 people on its rolls backed by another 6,800 life advisors, Kotak Life
Insurance has established a strong presence in over 42 branches across 30 cities in India.
The company has adopted a segmented product development strategy to create unbundled
and standalone products.
Dam also added, "We are here not only to gain market share or a share of the customer's
pocket, but also to make a difference in consumers' lives by securing their future, be it
through car finance, stock broking, public issues, wealth management, and even banking.
We have a firm grip over the mind share that will eventually lead to a highly sustainable
market share in the long run."
1. Total assets managed by the Kotak Mahindra Group stand at around USD 7.6 billion.
It is amongst the few banks in India to have a non-profitable asset level of just 0.33%.
2. KMBL was the first non-banking financial company (NBFC) to receive a retail bank
license in 2003.
3. In the life insurance market, Kotak Life Insurance registered an adjusted premium
(single premium: 1/10) growth of over 87% from financial year 2006-07 to financial
year 2007-08 (period April 1, to March 31).
4. Kotak Life Insurance, with 188 branches in over 130 cities, and a work force of
around 6,000 employees, is a company with a high level of brand awareness in the
market.
5. Kotak Life Insurance aspires to a spiraling growth with a strong focus on the
customer, products, mapping of geographic distribution channels and fund
performance.
6. It is a Member of the Swiss Life Network since 2003.

23. 7. Kotak Old Mutual Life Insurance Company reported a PAT of Rs. 143 mn for FY09
(FY08 loss of Rs.719 mn). Q4FY09 profits were Rs. 397 mn,(Q3FY09 - Rs 94 mn;
Q4 FY08 - Rs.17 mn).
8. Life Insurance premium income up to Rs. 23,432 mn in FY09 (Rs 16,911 mn in
FY08) and Rs. 9,059 mn in Q4FY09 (Q4 FY08 - Rs 8,056 mn)
9. During the quarter, the Group has taken possession of a property at Bandera Kurla
Complex, Mumbai for setting up its corporate office. This is consequent to resolution
of an account which was acquired from other Banks.
Total assets managed/ advised by the Group (including alternate assets) as on March 31,
2009 were Rs 339 bn (December 30, 2008 – Rs 320bn and March 31,2008 - Rs 365 bn).
Kotak Mahindra Group
Kotak Mahindra is one of India's leading financial organizations, offering a wide range of
financial services that encompass every sphere of life. From commercial banking, to
stock broking, to mutual funds, to life insurance, to investment banking, the group caters
to the diverse financial needs of individuals and corporate.
The group has a net worth of over Rs. 6,523 crore and has a distribution network of
branches, franchisees, representative offices and satellite offices across cities and towns
in India and offices in New York, London, San Francisco, Dubai, Mauritius and
Singapore. The Group services around 6.2 million customer accounts
 Missionand Vision of the Kotak group
1) Mission
We focus on the needs of our customers and create confidence, trust and loyalty by
offering a wide range of innovative insurance solutions.
Strengthened by our commitment to professional management, we ensure the continued
growth and advancement of our employees

24. 2) Vision
Kotak Life Insurance has a deep rooted commitment to improve the quality of life of its
customers, employees and stakeholders. We aim at improving the long term value in our
relationship by continuous innovation and improvements. We do this by our three-prong
effort which strives to make Kotak Life Insurance a corporate with values.
 Products
Kotak Life Insurance offers a range of innovative, customer-centric products that meet
the needs of customers at every life stage. Its products can be enhanced with up to 4
riders, to create a customized solution for each policyholder.
1. Protection Plans:
 Kotak Loan Protection Plan is a protection plan that helps share the
burden of your loan.
Child
Plan a good future for your
child.
Retirement
The road to retirement, Make it easy
Savings & Investments
Manage today for a better
tomorrow.
Protection
Helping you to grow and protect
your wealth.

25.  Kotak Eternal Life Plans are participating whole life plans that provide
enhanced protection till the golden age of 99
 The Kotak Term/Preferred Term Plan is a pure risk cover plan that
provides you with a high level of protection at nominal costs.
2. Retirement Plans:
Kotak secure retirement plan is an ideal retirement solution is one that gives you
complete flexibility and peace of mind, not only while you save for your retirement but
also after you retire.
 The Kotak Retirement Income Plan is a savings plan designed to meet your
post-retirement needs. It is a plan that gives you "Jeene ki azaadi".
 Kotak Retirement Income Plan is an ideal retirement solution that gives you
complete flexibility and peace of mind, not only while you save for your
retirement but also after you retire.
 Kotak Long Life Wealth Plus is an intelligent investment plan that helps you
build your future net worth with power-packed features that actively monitor and
manage your investment growth
3. Savings & Investment Plans:
 Kotak platinum advantage plus lets you live life on your own terms; always
doing what you've believed in. It is for those who are used to having the luxury of
choice and the power to control.
 Kotak Safe Investment plan is the ideal investment plan for you with its unique
“Seal of Guarantee” offer that not just gives you the best of bull markets but also
eliminates any capital loss in falling markets.

26.  Kotak Platinum Advantage Plan features capital protection, embedded
investment advice, life cover and aggressive market linked growth options.
 The Kotak Capital Multiplier Plan is the only plan of its kind that allows you
to enjoy returns even beyond maturity.
 Kotak Endowment Plan is a participating endowment plan that provides you an
avenue for long term regular investments to accumulate a lump sum on maturity.
 Sukhi Jeevan is a long-term savings and protection plan that keeps pace with
your changing needs at every step of life.
 Kotak Smart Advantage is an intelligent unit-linked plan that is based upon the
idea of regular savings and systematic accumulation of wealth in the long term.
 Kotak flexi plan offers you an ideal market-linked investment plan that helps
you create your own financial future by offering you the flexibility and control
over your money.
 Kotak Easy Growth plan is a single premium investment plan that generates
value for you for whole life as well as provides protection to your family in case
of unforeseen events.
 Kotak Money plus :This plan offers the key benefit of cash lump sums at
periodic intervals of five years ensuring that you are able to meet any of your
financial obligations.
 Kotak Premium Return Plan: This plan offers the key benefit of cash lump
sums at periodic intervals of five years ensuring that you are able to meet any of
your financial obligations.

27. 4. Child Plans:
 The Head start Child Plans are specially tailored, cost effective plans that aim
to give your children the financial means to pursue his or her dreams.
 The Kotak Child Advantage Plan is an investment plan designed to meet your
child's future financial needs.
Key group companies and their businesses:
Kotak Mahindra Bank The Kotak Mahindra Group's flagship company, Kotak
Mahindra Finance Ltd which was established in 1985, was converted into a bank- Kotak
Mahindra Bank Ltd in March 2003 becoming the first Indian company to convert into a
Bank. Its banking operations offer a central platform for customer relationships across the
group's various businesses. The bank has presence in Commercial Vehicles, Retail
Finance, Corporate Banking, Treasury and Housing Finance.
Kotak Mahindra Capital Company Kotak Mahindra Capital Company Limited
(KMCC) is India's premier Investment Bank. KMCC's core business areas include Equity
Issuances, Mergers & Acquisitions, Structured Finance and Advisory Services.
Kotak Securities Kotak Securities Ltd. is one of India's largest brokerage and securities
distribution houses. Over the years, Kotak Securities has been one of the leading
investment broking houses catering to the needs of both institutional and non-institutional
investor categories with presence all over the country through franchisees and
coordinators. Kotak Securities Ltd. offers online (through www.kotaksecurities.com)
and offline services based on well-researched expertise and financial products to non-
institutional investors.
Kotak Mahindra Prime Kotak Mahindra Prime Limited (KMP) (formerly known as
Kotak Mahindra Primus Limited) has been formed with the objective of financing the
retail and wholesale trade of passenger and multi utility vehicles in India. KMP offers
customers retail finance for both new as well as used cars and wholesale finance to

28. dealers in the automobile trade. KMP continues to be among the leading car finance
companies in India.
Kotak Mahindra Asset Management Company Kotak Mahindra Asset Management
Company Kotak Mahindra Asset Management Company (KMAMC), a subsidiary of
Kotak Mahindra Bank, is the asset manager for Kotak Mahindra Mutual Fund (KMMF).
KMMF manages funds in excess of Rs 15,916 crore and offers schemes catering to
investors with varying risk-return profiles. It was the first fund house in the country to
launch a dedicated gilt scheme investing only in government securities.
Kotak Mahindra Old Mutual Life Insurance Limited Kotak Mahindra Old Mutual
Life Insurance Limited is a joint venture between Kotak Mahindra Bank Ltd. and Old
Mutual plc. Kotak Life Insurance helps customers to take important financial decisions at
every stage in life by offering them a wide range of innovative life insurance products, to
make them financially independent.
Kotak's International Business With a presence outside India since 1994, the
international subsidiaries of Kotak Mahindra Bank Ltd. operating through offices in
London, New York, Dubai, San Francisco, Singapore and Mauritius specialize in
providing asset management services to specialist overseas investors seeking to invest
into India. The offerings are differentiated India investment solutions that span all major
asset classes including listed equity, private equity and real estate. The subsidiaries also
lead manage and underwrite international issuances of securities. With its commendable
track record, large presence on the ground and a team of dedicated staff in India, Kotak’s
international arm is suitably positioned for managing assets in the Indian Capital markets.

29.  Organisationalstructure (hierarchy structure)

30.  SWOT ANALYSIS
 Strengths
1. A strong backup by two giant organizations KOTAK MAHINDRA is India’s
premier financial institution. And Life Insurance, which is UK’s largest and
world’s second largest Life Insurance organization.
2. KOTAK MAHINDRA Life offers a wide range of insurance policies covering all
types of income groups.
3. The organization offers maximum number of riders / Add On benefits along with
the insurance policies
4. KOTAK MAHINDRA offers triple cover in case of accidental death in mass
surface public transport.
5. Only KOTAK MAHINDRA Life offers major surgical benefit rider.
 Weaknesses
1. KOTAK MAHINDRA Life does not offer a critical illness rider, i.e. the policy
continues even after claim to the full face amount. This rider is only offered by
HDFC Standard Life Insurance Company.
2. Only Max New York Life offers COMA, Multiple Sclerosis in critical illness
rider.
3. LIC charges Re. 1 per thousand for accidental death, disability benefit and waiver
of premium rider, but KOTAK MAHINDRA Life charges Rs. 1.35 per thousand
for the same.
4. KOTAK MAHINDRA Life does not offer competitive group insurance policies.

31.  Opportunities
 Change in business cycles contributes as an opportunity for the company because
it offers various policies suitable in different economic scenarios.
 Large size of untapped population is also an opportunity for KOTAK
MAHINDRA Life.
 Change in life style and perception in favor of Life insurance is another
opportunity for KOTAK MAHINDRA Life.
 Increased awareness among people regarding benefits of life insurance also
contributes to the opportunities of the company.
 Continuous improvement in technology is an opportunity for the organization.
 Threats
1. Reducing interest rates for government securities also poses a threat to the
organization.
2. Competition posed by the existing life insurers and new entrants is also a threat to
the company.
3. A fast technological obsolescence is another threat posed by the organization.

32.  COMPETITORSINFORMATION
 Life Insurance Corporation
LIC is an autonomous body authorized to run the life insurance business in India with its
head office in Mumbai. It has been established by an act of the Parliament and started
functioning from 01/09/1956. .
LIC is the biggest insurance player in the country. Out of the total premium of Rs 3966
crores generated by the insurance industry through groups.
 Bajaj Allianz Life Insurance
Bajaj Allianz Life Insurance is a union between Allianz SE, one of the largest Insurance
Company and Bajaj Finserv.
Allianz SE is a leading insurance conglomerate globally and one of the largest asset
managers in the world, managing assets worth over a Trillion (Over INR. 55, 00,000
Crores). Allianz SE has over 115 years of financial experience and is present in over 70
countries around the world.

33.  ING Vysya Life Insurance
ING Vysya Life Insurance (ING Life), a part of the ING Group the world’s largest
financial services corporation* entered the private life insurance industry in India in
September 2001. Headquartered at Bangalore, ING Life India is staffed by over 6,000
employees and services more than 8 lakhs customers.
 Max New York Life Insurance
Max New York Life Insurance Company Limited is a joint venture between Max India
Limited, a multi-business corporate, and New York Life International, a global expert in
life insurance.
New York Life is a Fortune 100 company that has over 160 years of experience in the life
insurance business. Max India Limited is a multi-business corporate dealing in Clinical
Research, IT and Telecom Services, and Specialty Plastic Products businesses.
Max New York Life Insurance started its operations in India in 2000. It is the first life
insurance company in India to be awarded the IS0 9001:2000 certifications. Max New
York offers customized products tailored to suit individual's needs. With its various
Products and Riders, there are more than 400 product combinations to choose from.
Today, Max New York Life Insurance has a network of 57 offices spread over 37 cities all
over India.

34.  MetLife India Insurance
MetLife India Insurance Co. Pvt Ltd is a joint venture between MetLife Group and its
Indian partners. The Indian partners include J&K Bank, Dhanalakshmi Bank, Karnataka
Bank, Karvy Consultants, Geojit Securities, Way2Wealth, and Mini Muthoothu.
Met Life Group has presence in America and Asia and has an experience of over 137
years in providing financial services. The MetLife companies are the number one life
insurer in the U.S. with approximately US $2.8 trillion of life insurance in force. MetLife
serves 88 of the top one hundred FORTUNE 500 companies. MetLife entered Indian
insurance sector in 2001.
 SBI Life Insurance:
With SBI Life, we can take care of such happy and unhappy surprises of life; it makes
this a bit easier, so that there is no worry about your children's education, or your family's
future. Whether you are looking for a safe investment vehicle with good returns or life
cover with regular returns in the future, all it needs is one small action on your part.
As the tag line says for SBI “With SBI Life, you're sure”.

35.  Tata AIG Life Insurance
Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture company,
formed by the Tata Group and
American International Group, Inc. (AIG). Tata AIG Life combines the Tata Group’s
pre-eminent leadership position in India and AIG’s global presence as the world’s leading
international insurance and financial services organization. The Tata Group holds 74 per
cent stake in the insurance venture with AIG holding the balance 26 percent. Tata AIG
Life provides insurance solutions to individuals and corporates.
 Reliance Life Insurance
Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the
Reliance - Anil Dhirubhai Ambani Group. The company acquired 100 per cent
shareholding in AMP Sanmar Life Insurance Company in August 2005. Taking over AMP
Sanmar Life provided Reliance Life Insurance a readymade infrastructure and a portfolio.
AMP Sanmar Life Insurance was a joint venture between AMP, Australia and the Sanmar
Group. Headquartered in Chennai, AMP Sanmar had over 90 offices across the country,
9,000 agents, and more than 900 employees

36.  Birla Sun Life Insurance
Birla Sun Life Insurance Company Limited is a joint venture between Aditya Birla Group
and Sun Life Financial of Canada. Aditya Birla Group is an Indian multinational
conglomerate with presence in India, Thailand, Indonesia, Malaysia, Philippines, Egypt,
Canada, Australia and China.
Sun Life Assurance, Sun Life Financials primary insurance business, is one of the leading
insurance companies of the world and ranks amongst the largest international financial
services organizations in the world. The Group has presence in several countries such as
Canada, United States, Philippines, Japan, Indonesia, India and Bermuda.
Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Auto
Limited and Allianz AG of Germany. Both enjoy a reputation of expertise, stability and
strength.
Bajaj Allianz General Insurance received the Insurance Regulatory and Development
Authority (IRDA) certificate of Registration (R3) on May 2nd, 2001 to conduct General
Insurance business (including Health Insurance business) in India. The Company has an
authorized and paid up capital of Rs 110 crores. Bajaj Auto holds 74% and the remaining
26% is held by Allianz, AG, and Germany.
In its first year of operations, the company has acquired the No. 1 status among the
private non-life insurers. As on 31st March 2003, Bajaj Allianz General Insurance
maintained its leadership position by garnering a premium income of Rs.300 Crores.
Bajaj Allianz also became one of the few companies to make a profit in its first full year
of operations. Bajaj Allianz made a profit after tax of Rs.9.6 crores.

37. 2.2 Introduction to the Topic :
RECRUITMENT AND SELECTION PROCESS
The recruitment and selection process is the major function of the human resource
department and recruitment process is the first step towards creating the competitive
strength and the recruitment strategic advantage for the organization.Recruitment process
involves a systematic procedure from sourcing the candidates to arranging and
conducting the interviews and requires many resources and time.A general recruitment
process is as follows:
Identifying the vacancy:
The recruitment process begins with the human resource department receiving requisition
for recruitment from any department of the company.these contain:
 Post to be filled.
 Number of persons.
 Duties to be performed.
 Qualification required.
 Preparing the job description and person specification.
 Locating and developing the sources of required number and type of
employees(adverising etc).
 Short listing and identifying the prospective employees with the required
characterstics.
 Arranging the interviews with the selected candidates.
 Conducting the interview and decision making.

38. The purpose and importance of Recruitment given below:
 Attract and encourage more candidates to apply in the organization
 Create a talent pool of candidates to enable the selection of best candidates for the
organization.
 Determine present and future requirement of the organization in conjunction with
its personally planning and job analysis activities.
 Recruitment is the process which lines the employers with the employers
 Increase the pool of job candidates at minimum cost.
Helps increase the success rate of selection process by decreasing number of visibly
under qualified or overqualified job applicants.
Help reduce the probability that job applicants once recruited and selected will leave the
organization only after a short period of time.
Meet the organization legal and socialobligantion regarding the composition of its
workforce.
Begin identifying and preparing potential job applicants who will be appropriate
candidates.
Increase organization and individual effectiveness of various recruiting techniques and
sources for all types of job applicants.
Every organisation has the option of choosing the candidates for its recruitment processes
from two kinds of sources:internal and external source.
The sources within the organisation itself(like transfer of employees from one department
to other,promotion)to fill a position are known as the internal sources of
recruitment.Recruitment candidates from all the other sources (like outsourcing agencies
etc.)are known as the external sources of the recruitment.

39. FACTORS AFFECTING RECRUITMENT
In today’s rapidly changing business environment, a well defined recruitment policy is
necessary for organization to respond to its human resource requirement in time.
Therefore, it is important to have a clean and concise recruitment policy in place, which
can be executed effectively to recruit the best talent pool for the selection of the right
candidate at the right place.
COMPONENET OF THE RECRUITMENT POLICY
 The general recruitment policies and terms of the organization
 Recruitment services of consultants
 Recruitment of temporary employees
 Unique recruitment situation
 The selection process
 The job description
EXTERNAL FACTORS
1) suppy and demand
2) labour market
3)image/goodwill
4)political social - legal
enviroment
5) unempolyment rate
6) competitors
INTERNAL FACTORS
1)recruitment policy
2) human resource planning
3) cost of recruitment
4) size of the firm
5) growth and expansion

40. The terms and conditions of the employment:
 A recruitment policy of an organization should be such that:
 It should focus on recruiting the best potential people.
 To ensure that every applicant and employee is treated equally with dignity and
respect.
 Unbiased policy.
 To aid encourage employees in realizing their full potential.
 Transparent, task oriented selection given to factors hat suit organization needs.
 Optimization of manpower at the time of selection process.
 Defining the competent authority to approve each selection.
FACTORS AFFECTING RECRUITMENT POLICY
 Organization objectives.
 Personnel policies of the organization and its competitors.
 Government policies on reservation.
 Preferred sources of recruitment.
 Needs of the organization.

41. SELECTION PROCESS
Employee Selection is the process of putting right men on right job. It is a procedure of
matching organizational requirements with the skills and qualifications of people. Effective
selection can be done only when there is effective matching. By selecting best candidate for
the required job, the organization will get quality performance of employees. Moreover,
organization will face less of absenteeism and employee turnover problems. By selecting
right candidate for the required job, organization will also save time and money. Proper
screening of candidates takes place during selection procedure. All the potential candidates
who apply for the given job are tested.
But selection must be differentiated from recruitment, though these are two phases of
employment process. Recruitment is considered to be a positive process as it motivates
more of candidates to apply for the job. It creates a pool of applicants. It is just sourcing of
data.
Once the candidates are selected for the required job, they have to be fitted as per the
qualifications. Placement is said to be the process of fitting the selected person at the right
job or place, i.e. fitting square pegs in square holes and round pegs in round holes. Once he
is fitted into the job, he is given the activities he has to perform and also told about his
duties. The freshly appointed candidates are then given orientation in order to familiarize
and introduce the company to him. Generally the information given during the orientation
programmed includes-
• Employee's layout
• Type of organizational structure
• Departmental goals
• Organizational layout
• General rules and regulations
• Standing Orders
• Grievance system or procedure

42. In short, during Orientation employees are made aware about the mission and vision of the
organization, the nature of operation of the organization, policies and programmers of the
organization.
The main aim of conducting Orientation is to build up confidence, morale and trust of the
employee in the new organization, so that he becomes a productive and an efficient
employee of the organization and contributes to the organizational success.
RECRUITMENT OF EMPLOYEES
STEP1: Identify vacancy
STEP2: Prepare job description and person specification
STEP3: Advertising the vacancy
STEP4: Managing the response
1
2
3
45
6
7

43. STEP5: Arrange interviews
STEP6: Conducting interview and decision making
SELECTION OF EMPLOYEES AT KOTAK MAHINDRA LIFE
INSURANCE
1. FINANCIAL ADVISORS
Qualifications for becoming an financial advisor:
The person must be
(a) Not a minor.
(b) Have passed at least the 12th standard or equivalent examination, if he is to be
appointed in a place with a population of 5,000 or more. (10th standard
otherwise.)
(c) Have undergone practical training for at least 100 hours in life or general
insurance business, as the case may be, form an institution, approved and
notified by the IRDA. IN the case of a person wanting to become a composite
insurance agent, the applicant should have completed at least 75 hours
practical training in life and general insurance business, which may be spread
over six to eight weeks.
(d) Have passed the pre-recruitment examination conducted by the insurance
institute of India or any other examination body authorized by the IRDA

44. Functions of an financial advisor
 Understanding the prospect’s needs and persuade him to buy a plan of life
insurance that Complete the formalities:- paper work, medical examination,
which are necessary to get the policy expeditiously.
 Keep in touch to ensure that changing circumstances are reflected in the
arrangements relating to premium payments, nomination and other necessary
alterations.
 Facilitate quick settlement of claims.
 Be totally honest with both the prospect and the insurer.
 Not to induce prospects to submit wrong information.
2. REGIONAL SALES MANAGER:
Qualification: MBA and about 8-10years of experience, at least 4 years retail
sales management experience
Job profile Description:
 Monitors and drives timely recruitment of agents and agency managers
 Monitors and reviews sales performance parameters on a daily basis
 Initiates and tracks activities for continuous lead generation
 Provides inputs for development of operational plans and target setting for the
agency channel
 Provides inputs for creation of annual DAP

45. 3. UNIT MANAGER:
Qualification: Graduate preferably MBA with high communication skills. 2-4 years
experience in sales, FMCG, Consumer durables, Banking and Financial Products,
Concept Selling, Media and Advertisement, Service Industry, Direct Marketing,
Insurance Sector. The candidate should have zeal to strive hard to climb the ladder in the
organization. A hard worker can come up within 6 Months, by good performance
Job profile:
 Candidate should need to handle the team of advisors.
 Train these advisers for selling insurance policies,
 Lead the Team of advisers to be active and productive.
 And generating business for the company
4. AGENCY MANAGER:
Qualification: Minimum graduate of 2 yrs and above experience
Should be experienced in the sales field (FMCG, direct sales, insurance,; etc)
Should be a locality or living in city for more than 5 years.
Job Profile:
 Recruiting the team of financial advisors
 Training, motivating and monitoring the team
 Setting the targets and timely review of the team performance
 Responsible for the business increment

46. 5. SALES MANAGER:
1) Qualification
 Any graduate of 3+yrs sales experience.
 Should be from the insurance currently.
 Should have exp in handling the team.
(only insurance candidates are preferred)
Job profile:
 Involving in Selling of insurance products.
 Handling the team of 8-10 DST of the company.
 Monitoring the team members.
 Generating the business from them.
6. TERRITORY SALES MANAGER:
Qualification:
Education: Graduate/Postgraduate
Personal Characteristics & Behaviors:
1. Need to be good in Personal Relation.
2. Clarity in communication
Job profile:
Territory Sales Manager – Prepaid Sales (Level – Senior Executive / Asst Manager)

47. The candidate must be Graduate/ MBA with 2 – 3 years of experience in Channel Sales.
Candidate from Telecom, FMCG, Paints, Consumer Durables or other similar allied
would be preferred. Age of the candidate should not be more than 28 years. Good
Communication Skill in English and Gujarati.
Rural Territory Manager – Prepaid Sales (Level – Senior Lead / Executive)
The candidate must be Graduate/ MBA with 1 – 2 years of experience in Distribution.
Candidate from Telecom, FMCG, Paints, Consumer Durables or other similar allied
would be preferred. Age of the candidate should not be more than 25 years. Good
Communication Skill in English and Gujarati.
Keywords: Territory Sales Manager, Rural Territory Manager, Channel Sales,
Distribution, Postpaid Sales, Sales, Sale and Marketing, Sales & Marketing, Prepaid
Sales, Sales Representative, Sales Officer, Area sales Manager, Territory Manager, Sales
Executive.

48. CHAPTER -3
OBJECTIVE OF THE STUDY

49.  OBJECTIVES OF THE STUDY
 To study the process of selection and recruitment in Kotak Mahindra Life
Insurance.
 To study the products offered by Kotak Mahindra life insurance
 To study the Recruitment procedure at Kotak Mahindra Life insurance.

50. CHAPTER 4
RESEARCH METHODOLOGY

51.  RESEARCH DESIGN
A research design is the arrangement of conditions for collections and analysis of data in
a manner that aims to combine relevance to the research problem with economies in a
procedure.
I have used descriptive research design for my research.
Descriptive Research
Descriptive research includes surveys and fact findings enquiries of different kinds. It
basically gives a description of the state of affairs as it exists at present. A researcher has
no control over the variables so they can only report what has happened or what is
happening. We can also use the survey method for this purpose.
 SOURCES OF DATA
A research design is one, which simplifies the framework of plan for the study and adds
itself in the quick collection and analysis of the data. It is a blue print that has been filled
in completing the study. Data sources are:
Primary data
The primary data are those which are collected fresh for the first time and thus happen to
be original in character. In other words, it is obtained by design to fulfill the data are
original in character and are also generated in a large number of surveys conducted
mostly by government and also by institution and research bodies. A questionnaire was
prepared for the respondents, where there views were collected.
Secondary data
The secondary data are those which have already been collected for some purpose other
than the problem in hand and passed through the statistical process. In other words, data
that are not originally collected rather obtained from Published and Unpublished Sources.
The secondary data has been collected through various sources:
 Internet
 Books
 Newspaper

52.  Magazines
 Brochure
 Journals
 Websites
 SAMPLING TECHNIQUES
Sampling technique refers to the technique or procedure the researcher would adopt
in selecting items for the sample. We have used judgmental sampling for our research
because gathering information from every individual is not possible.
 SAMPLE SIZE
Sample size refers to the number of respondents. To get a clear view we have
conducted our research on 100 people.
 METHODS OF DATA COLLECTION
Instrument used to measure the system in Kotak Mahindra life insurance was of primary
and secondary kinds. The primary source of data was through questionnaire schedule.
The secondary source included brochures, annual reports, magazines, employee’s
handbook, magazines and journals
 SELECTION OF SAMPLES:-
Sample size is 100.
 STATISTICAL TOOLS:-
It is very difficult to have detailed knowledge of employees working in Kotak Mahindra
Life insurance. So the surveyor has taken 100 samples due to limited resources and time
factor. The management ranks are working in different categories of different

53. department. Thus it becomes equally justified to plan in such a way that it covers all
departments.
 TOOLS & TECHNIQUES OF ANALYSIS
 Pie chart
 Bar diagram
 Text and statements
 LIMITATIONS OF THE RESEARCH:
 The limitation in this survey was that I could not conduct a survey on a big scale,
due to the time constraint.
 Most of the contents collected were difficult to understand because it was new for
me to work in this field.
 It was tricky and time consuming to understand the mysteries of marketing.
 Response of customers could be biased.

54. CHAPTER 5
DATA ANALYSIS AND INTERPRETATION

55. 1. What type of job you are doing in Kotak Mahindra life insurance?
 Part Time Job
 Full Time Job
Options Number of Respondents (%)
Part Time Job 45
Full Time Job 55
INTERPRETATION:
From the above pie chart, 85%of respondent are doing part time job in Kotak Mahindra
life insurance whereas, 15% of respondent are doing full time job.
45%
55%
Part time job
Full time job

56. 2. Will you tell others to join Kotak Mahindra Life insurance?
 Yes
 No
Options Number of Respondents(%)
Yes 88
No 12
INTERPRETATION:
From the above pie chart, 88% of respondent will suggest people to join Kotak Mahindra
Life Insurance whereas 12%of respondent do not suggest people to join Kotak Mahindra
life insurance.
88%
12%
Yes
No

57. 3. Are you aware of having employee referral schemes?
 Yes
 No
Options Number of Respondents( %)
Yes 70
No 30
INTERPRETATION
From the above pie chart, 70% of respondents says yes of having employee referral
schemes whereas 30%of respondents do not have employee referral schemes.
70%
30%
Yes
No

58. 4. Do you bear any expenses of the outstation candidate for the final interview?
 Yes
 No
Options Number of Respondents(%)
Yes 55
No 45
INTERPRETATION
From the above pie chart 55 % of respondent shows that the firm bears expenses of the
outstation candidate for the final interview whereas 45%of respondent shows that the
firm does not bears any expenses of the outstation candidate for the final interview.
55%
45%
yes
no

59. 5. What is the duration of the probationary period for a new joiner of the
organization?
 Below 6 months
 6 months
 1 year and above
INTERPRETATION
From the above pie chart, 75 % of the respondent shows that organization gives a joining
to newer comer within 6 months, whereas 25% of respondent shows that the organization
gives a joining to newer corner within 1 year.
35%
50%
15%
below 6 months
6 months
1 year and above
Options Number of Respondents(%)
Below 6 months 35
6 months 50
1 year and above 15

60. 6. Do you conduct background checks?
 Yes
 No
Options Number of Respondents(%)
Yes 80
No 20
INTERPRETATION
From the pie chart, it is clear that 80 % shows that organization conduct background
checks whereas 20%of respondent do not shows any background checks, so as to
acknowledge about the experience, quality of a new comer
80%
20%
Yes
No

61. 7. Do you have a mentor system to make the new joiner feel at ease?
 YES
 NO
Options Number of Respondents(%)
YES 60
NO 40
INTERPRETATION
From the above pie chart,60%of respondent shows that organization have the buddy
mentor system to make the new joiners feel at ease whereas 40%of respondent shows that
the organization do not have a buddy mentor system.
60%
40%
Yes
No

62. 8. What is the induction programme of your organization ?
 Structured and formal type
 Informal type
Options Number of Respondents(%)
Structured and formal type 72
Informal type 28
INTERPRETATION
From the above pie chart, 72% of respondent shows organization conduct induction
programme in a structured and formal way whereas 28%of respondent shows
organization conduct induction programme in a informal way.
72%
28%
Structured and formal type
Informal type

63. 9. What is the duration of induction programmed ?
 Less than 1 week
 One month
 More than a month
Options Number of Respondents(%)
Less than 1 week 50
One month 34
More than a month 16
INTERPRETATION
From the above pie chart, it is clear that 58 % of respondents of induction programmed is
held in less than 1 week whereas 42%of respondents of induction programmed is held in
1month.
51%
33%
16%
Less than 1 week
one month
More than a month

64. 10. What are the types of rewards usually given to the employees?
 Monetary
 Non-monetary
Options Number of Respondents(%)
Monetary 69
Non-monetary 31
INTERPRETATION
From the above pie chart, it is clear that 69 % of respondents of rewards usually given to
the employees whereas 31% of respondents of rewards usually not given to the
employees.
69%
31%
Monetary
Non-monetary

65. CHAPTER 6
FINDINGS

66. Findings
 The insurance sector helps in increasing the employment opportunities in India
 The KOTAK MAHINDRA Life Insurance is providing the products according the
needs of the customers.
 Insurance sector is the most booming sector in India now-a-days.
 KOTAK MAHINDRA Life offers a wide range of insurance policies covering all
types of income groups.
 KOTAK MAHINDRA offers triple cover in case of accidental death in mass
surface public transport.
 KOTAK MAHINDRA Life offers a wide range of insurance policies covering all
types of income groups.
 Maximum number of employee referral schemes are their in the organization.
 The insurance sector helps in increasing the employment opportunities in India
 There are a lot of new companies entering in the insurance making it more
competitive.
 Much of the people are satisfied with the pre-sale services and after-sales services
of the Kotak Mahindra life Insurance Company.
 Most of the induction programme is held less than 1 week whereas, 36%of
induction programme is held in 1 Month.
 According to most of the customers the advertising and marketing strategies of
the company is good enough to attract the customers.
 The company uses this concept to gain its customers.

67. CHAPTER 7
RECOMMENDATION

68. RECOMMENDATIONS
 The company should concentrate more on sales and marketing department so that
more and more products can be sold out.
 Advertisements should be the best method to advertise the products and popular
among the public
 Cheaper products should be introduced by the company so that it can reach the
middle class public.
 The company should provide better services to the customers so as to capture
more and more market.
 The company should also offer some more plans for the middle class of the
society.
 The company should stress much on its plans and sell the products according to
the customer needs.
 The company should make more and more plans according to the customer’s
needs.

69. ANNEXURE

70. QUESTIONNAIRE
Name…………………….
Designation……………………….
Department…………………..
1. What type of job are you doing in Kotak Mahindra life insurance?
 Part time job
 Full time job
2. Will you tell others to join Kotak Mahindra life insurance?
 Yes
 No
3. Do you employee referral schemes?
 Yes
 No
4. Do you bear any expenses of the outstation candidate for the final interview?
 Yes
 No
5. What is the duration of the probationary period for a new joiner in your
organization ?
 Below 6 months
 6 months
 1 year

71. 6. Do you conduct background checks?
 Yes
 No
7. Do you have a mentor system to make the new joiner feel at ease?
 Yes
 No
8. What is the induction programme of your organization ?
 Structured and formal type
 Informal type
9. What is the duration of induction programmes ?
 Less than 1 week
 One month
 More than a month
10.What are the types of rewards usually given to the employees ?
 Monetary
 Non monetary

72. BIBLIOGRAPHY

73. BIBLIOGRAPHY
BOOKS:
1. Kothari, C. R., (2008) “Research Methodology: Methods and Techniques” ,Vishwa
Prakashan Publishers ,Delhi
2. Kotler, Philip and Keller, Lane Kevin., (2005), “Marketing Management” Twelfth
Edition, Prentice Hall, Delhi.
WEBSITES:
1. www.howstuffworks.com
2. www.altavista.com
3. www.kotakmahindra.co.in