recuritment and channel development presentation

8/14/2019 recuritment and channel development presentation

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Recruiting AGENTS AND DEVELOPING THEAGENCY CHANNEL


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INTRODUCTION


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OBJECTIVECustomer & potential agents perceptions

about insurance as a product category.

To study the existing compensation for agentsof Max.

To study the existing channel developmentprocess of MTNL.


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BRIEF DESCRIPTION OF THE COMPANY

Company profile

Product of MNYL

Vision

mission


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RESEARCH METHODOLOGY

Research design

Exploratory & Descriptive research

Sources of data

Primary data sourcesSecondary data sources


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SAMPLING METHODOLOGY

qSampling Technique: Judgemental Sampling

qSample Size: 100

qSampling area: Central Kolkata region


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LIMITATION Due to lack of time we had to be restricted in the

particular area.

We couldnt take any interview of existing agents &

advisors of the company.

Many people were not interested to fill up thequestionnaire.

Regarding the making of questionnaire we were boundto make that questionnaire on the basis of thecompanys selection criteria only. So we were not ableto get more information.


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Mnyl aims to attract and retain thebest talent through : A commission structure which compares with the

best in the market

Expense reimbursement for attending these

training classes Recognition platforms to honour an elite breed

of insurance professionals

Providing our top/long serving agents a

management career opportunity with thecompany

Timely and accurate payments

Advise to save Tax

No retirement a e


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Agents in their 1st 90 days

# of Sales Per Month Survival Rate

31 or More 10 94%22-30 08 85%

16-21 06 60%

09-15 03 27%

00-08 02 04%


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SAMPLE Profile ANALYSIS


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Age wise break up of the sample


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GENDER WISE BREAK UP OF SAMPLE


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interests shown by female group


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Interests shown by male group


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MARITAL STATUS WISE BREAK UP


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Interests shown by Married & unmarriedpeople

Married people Unmarried people


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Availability of job in the present job market


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LEADING INSURANCE COMPANY


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Distribution channel

Start

Name Gathering in P200

Short Listing

Contacting

INTERESTED? no End

yes

Initial Screening

NATCareer Seminar & P200

INTERESTED? no End

yes

Career Interview

FCS

IC-33? noncertified Reappear

certified

Contract with MNYL End


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recommendation

Low awareness about MNYL brand name

Initial fee for agent policy is too high

The registration fee for IRDA is very high

The 15 days fulltime training is become impossible topotential recruits

MNYL can provide some database collected from othersources to the new recruits at least in the first month.


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CONCLUSION


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recuritment and channel development presentation

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