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    Summer Training Presentation

    in partial fulfillment for the degree of

    Masters of Business Administration

    Department of Business Administration

    Faculty of Management Studies and Research

    Aligarh Muslim University, Aligarh.

    Murshidabad Centre, West. Bengal

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    SUMMER TRAINING REPORT PRESENTATION

    Of project undertaken at

    ICICI PRUDENTIAL LIFE INSURANCE CO. LTD.On

    ADVISOR RECRUITMENT IN ICICI

    PRUDENTIAL LIFE INSURANCE CO. LTD

    Under the supervision of:

    Mr. Harish KhaliqueHR Manager, ICICI Prudential life InsurancePresented By:

    ISRAR AHMAD(11-MBAW-34)

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    Contents

    Company profile

    Introduction of the problem

    Objective of study

    Theoretical concept

    research methodology

    Data collection and presentation

    data analysis

    FindingsConclusion

    Suggestions

    limitations

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    Company Profile

    ICICI Prudential Life insurance Company is a joint venture between ICICI Bank

    and Prudential Plc.

    ICICI Prudential was amongst the first private sector insurance companies to begin

    operations in December 2000 after receiving approval from IRDA.

    VISION:-To make ICICI Prudential the dominant life and pensions player built on

    trust by world class people and services.

    VALUES:- Customer First, Integrity, Boundary less, Ownership, Passion

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    INTRODUCTION OF THE PROBLEM

    TOPIC: Advisor recruitment in ICICI Prudential Life Insurance

    Company Limited.SOME BASIC MANDATED WHICH A MANAGER ANSWERS BEFORE RECRUITING

    WHY TO RECRUIT

    Thats the way to do this business

    More recruits, more active advisors, more BUSINESS!!

    WHO TO RECRUIT

    A successful advisor common traits are :

    Age : 25-50 Education : Graduate

    Family Income: above Rs 3 Lakh p.a

    Marital status: Married

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    SOME OTHERS POINTS BEFORE RECRUITingSuccessful advisors usually have 2 years of work exp.

    Women/housewife are very successful.

    Small entrepreneur

    Average profile

    Women

    Students

    Retired personnel

    Avoidable profile New to city

    Income profile approx Rs 1 lakh p.a

    People who do not own their transport

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    Most preferred profiles to

    recruit as advisor

    CAs

    Doctors

    Lawyers

    Govt. employees

    Bankers and brokers

    Agents of others life insurance companies

    Executives working in a call centers.

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    Objective of the study

    Primary objectModes and ways through which they recruit advisors.

    Secondary objectCommission structures.Training programme.

    USPs.

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    THEORETICAL CONCEPTHierarchy In Insurance Company

    SALESMANAGER

    AREA

    SALESMANAGER

    UNITMANAGER

    UNITMANAGER

    ADVISOR ADVISOR ADVISOR

    UNITMANAGER

    AREA SALES

    MANAGER

    AREA SALES

    MANAGER

    AREASALES

    MAAGER

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    30CONTACTS

    8 FORINTERVIEW

    2SELECTED

    RECRUITING SUCCESS FORMULA

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    Before we move on to searching it is important to know

    the profile of the advisor.

    The general profile would be:

    Age 25-45 years

    Smart appearance and sound health

    High IQ and common sense

    Ability to work under pressurePrior sales experience

    Money motivation

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    STRATEGIES INVOLVED IN SEARCHING

    POTENTIAL ADVISORS

    Personal observation

    Present advisor recommendation

    Client referrals

    College campuses

    Seminars

    Newspaper advertisement

    Direct mail

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    RESEACH METHODOLOGY

    Sampling:-During this step we have to createdatabase of the persons who can be recruited as aninsurance advisor. The data base should inlude our

    relatives and friends

    Pre-approach:-during this step we fixappointments with the prospective persons and get aproper day and time from him to meet and explain thevarious benefits of the advisors

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    Approach:-approaching part include meetingwith the prospective persons.

    Selected persons were contacted telephonically

    Opening the call:- In this step we check for thedetails of the persons during the meeting.

    RECRUITMENT:-Finally data was collected inwritten format from those who were interested

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    DATA COLLECTIO AND PRESENTATION

    I have used my own database which consists of small

    entrepreneur, high school and college teachers etc. In my case what I had proceed on behalf of the

    company, the list of given database

    Table showing the frequency ad percentage of different

    age group.Age group frequency Percentage

    Below 25 17 34

    25-35 22 44

    35-45 4 8

    45-55 3 6

    More than 55 4 8

    Total 50 100

    Y

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    DATA ANALYSIS% of different age group people

    >2534%

    25-3544%

    35-458%

    45-556%

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    % of people who are interested in ICICI

    PRUDENTIAL

    From this graphical representation it exactly shows that

    maximum number of people are interested towards

    ICICI PRUDENTIAL to run up a business as an advisors

    Interested shown frequency percentage

    Yes 30 60

    No 20 40

    total 50 100

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    % of people who have different household income

    To become an insurance advisor anyone need minimum household

    income of Rs 2 lakh. So our research target was those customerswhose household income lies between Rs 2-3 lakh /yr.

    Income household frequency Percentage

    1-2 lakh/yr 10 20

    2-3 lakh/yr 18 36

    3-4 lakh/yr 15 30

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    FindingsOn the basis of the data collected through the questionnaire, I came to

    the following analysis.

    The most of the people who were interested in insurance sector

    were below 25 year.

    The married people were more interested as compared to the

    unmarried people.

    The people who were on the govt. job and having own businesswas making good response as compared to others.

    Most of the individual who were simple graduate were making

    more interest in insurance sector as compared to the post

    graduate and professional people.Lot of people was making negative response about the interest

    in insurance sector

    Most of the people like to start a business with ICICI Prudential

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    CONCLUSION ICICI Prudential Life insurance Company is the no 1

    private life insurance company in India

    It is concluded that through references people can be easily

    recruited.

    It is found that persons doing their private business are ready to

    be recruited as an advisor.

    It found that those who pay the fees for training are mostly

    committed for recruitment.

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    Suggestions

    From our study we could find out that peopleare not aware about the policies and features

    of insurance. Therefore ICICI are suggestion

    to shed light on policies and explain thefeatures.

    The return of the policies are not properly

    managed and never given in time. So these

    must be looked at.

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    LIMITATIONS OF THE STUDY

    People do not trust on private companies.

    Presence of competitors like Bajaj Allianz, Kotak Life, FGI, etc

    Presence of government investment options.

    Advisor income depends upon their work. (no fixed income).

    Differences in advisors commission as compare to govt. sector.

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    THANK YOU