About Insurance Sector Growth Porters Analysis About the company Swot analysis Porter five forces model Organizational Structure Recruitment & Selection Internship Summary Project Description Learnings Findings

1. Winter Internship Project
Analyzing customer decision making process in
insurance services
Presented by:
Anand Singh Tomar
DM17B04
Core Marketing-1

2. Sector Information
India Insurance Sector
• 57 Insurance companies
• Growth rate 32-34%
• 3.4% Insurance penetration
• Revenue of Rs 1.23 trillion from premiums
• CAGR is 12%
• 28.80 crore people have insurance policies

3. Insurance Regulatory and Development Authority (IRDA)
• Established in 1999 under the IRDA Act
• Responsible for regulating, promoting and ensuring orderly growth of the insurance and re-insurance business
in India

4. Growth

5. Porter’s Analysis

6. Company Information
Vision
Aim India vision is to deliver high rate of returns to
our clients and to move towards financial
independence
Mission
To become an organization that is knowledge centric
and offers expert advice to our clients.

7. AIM India Services
Internship
Compliance & Consulting
Accounting & Taxation
Recruitment, Training & Development
Insurance & Mutual Funds
Retirement planning & Wealth advisory service
International Expansion Service

8. AIM India Product
Aim India deals with various products, one of the product which I had sold was India First
life insurance Maha Jeevan product
8% Return on Investment
Tax benefits under sec 80c & sec
1010d
Life Cover of 1 premium* (16-18)
times
Joint Ventures of India first Life Insurance

9. SWOT Analysis AIM India
Strength
Corporate
collaborations
Global presence
Business
growth
Rise in per
capita income
Emerging
middle-income
group
Weakness
Dominance of
public sector
Less
promotions
Opportunities
Creation of
strong future
growth
Rise in income
Rise in
awareness
Creation of
stronger
demand
Threat
Competition
Entry of new
NBFCs in the
sector
Varying
government
policies

10. Organizational Structure AIM India
CEO
Director
General Manager
Corporate Sales
Manager
Executives
Interns
HR Area Manager
Executives
Interns
Finance Manager
Executives
Interns
Admin Manager

11. Recruitment & Selection process of AIM India
Pre-
Placement
talk
Personal
Interview
Offer Letter
Pre-placement
talk
GD/Aptitude
Personal
Interview
Skype
Interview
Offer Letter

12. Internship Summary at AIM India
Induction
HR profile
training
Finance profile
training
Marketing
Profile training
Role-plays
Field work
(Sales)
Market
Research
Analysis of
data
Evaluations Counselling Feedback Recognition

13. Sales Process Summary at AIM India
Fixing appointment with potential customer.
Meeting with potential customer.
Follow-up through calls and 1-2 more meeting
with potential customer.
Closure and cheque taken from customer.
Insurance bond delivery to the customer address.

14. Learnings
Importance of
organization
goals.
HR practices.
Employee
Lifecycle.
CTC Payroll. Taxation.
Different
financial sectors.
Tax benefits.
Daily sales
report.
Various
Products.
Patience
Situation
Handling
Marketing
Strategies
Market scenario
and insights
Customer
perception
Customer
Relationship
Management
Making your
brand better and
stronger
If the customer
doesn't have
need generate it.
Sales pitching
skills.
Customer
follows up skills.
Customer
retention skills.
Conversion of
customer needs
into the want.
Promotion of
product

15. Findings
Analyzing customer decision making process in insurance services
533 respondents
Female : Male = 6 : 9
People of age 30-35 prefer more to buy insurance policy
Private job occupation people buy more insurance
People with income of 10-12.5lacs prefer more to buy insurance
Indian people are risk averse
Most of the people have insurance policy at New Delhi
Mostly people insurance is still running
Security is the main reason that people by insurance
Mostly people buy insurance on the criteria of trust toward insurance company
People prefer to buy insurance from insurance agents
90% people feel protected when they have insurance