bala srikanth reddy kallam
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INTERIM REPORT
Presented By
k.Bala ssrikanth reddy
10102500
M.B.AK.LU.B.S
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COMPANY NAME
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LOCATION OF THECOMPANY
ING LIFE INSURANCE
3rd floor, Raghu Mansion,
Near Shankar Vilas Cafe,
4/1, Brodipet Guntur,Andhra Pradesh,
Pin Code 522002,
Phone No. - 08632261002 /3/ 4/ 5/ 6 /7/8/9.
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OBJECTIVES
Objective executive training is to understand the products
present in the company, to understand the different type
customers present in the market, to understand exact field
work and its nature.
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EXECUTIVE TRAINING
EXECUTIVE TRAINING
Each and every student should have to undertake on-the-job-training and day-to-day operations of thecompany.
This on-the-job training and day-to-day operationshelp each student for gaining deeper understanding ofwork, culture, targets, deadlines, work pressure of ancompany.
Executive training helps in involving teamwork, goalorientation, and managing the interpersonalrelationships.
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CONT
Executive training helps for developing the qualities of a
manager.
Executive training is used to know about different types of
customers, how to interact with customers, how to makebusiness from the customers, how handle a customer in a
difficult situation.
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INSURANCE
Insurance is a risk management technique primarily
used to put off against the risk of a dependant on,
changeable loss that may be suffered by those
individuals or entities who have an insurable interestin scarce resources, by transferring the possibility of
this loss from one interested person, persons, or entity
to another.
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TYPES OF INSURANCE
Vehicle Insurance
Home Insurance
Business insurance Life Insurance
Health insurance
Disability Insurance
Disability overhead Insurance
Total permanent disability Insurance
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LIFE INSURANCE
Life insurance is a contract between the policy holder and the
insurer, where the insurer promises to pay a designated
beneficiary a sum of money upon the death of the insured
person. Life Insurance have two major categories those are:
Protection Policies.
Investment Policies.
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COMPANY MISSION
To set the standard in helping our customers manage
their financial future.
Company name aim is to deliver its financial products
and services to customers with excellent service and
convenience and at competitive prices.
Gaining improvement in the financial performance of
all ING Life insurance businesses is a key componentof company strategy.
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ABOUT THECOMPANY
ING full form is
INTERNATIONAL NETHERLAND GROUP.
ING was started in the year 1850 at Netherland.
Corebusiness of ING are insurance,banking, assertmanagement and pensions.
Net worth of ING group is Rs83,16,000 crores
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ING IN INDIA
ING started with its business in India with the
help of Vysya bank and GMR group in the year
2001 September 2001.
Shares of each company is
ING - 26%.
VYSYA BANK- 49%.GMR- 25%
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In 2002 ING restructured with other companies.
ING has link up with three companies those
companies are EXIDE batteries, ENAM Group,
Gujarat Ambuja Cement.
Shares of each company is
CONT
EXIDE Batteries- 50%.Gujarat Ambuja Cement- 14.87%.
ENAM Group- 9.13%.
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PLANS IN THECOMPANY
Children Plans
Protection Plans
Savings PlansInvestment Plans
Retirement Plans
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CONT
Children Plans: ING Aashirvad, Creating LifeProtection Plan, Creating Life Money Back Plan
Protection Plans: ING Term Life, ING Term Life plus.
Savings Plans: Reassuring Life Endowment Plan, SafalJeevan Endowment Plan, Safal Jeevan Money Back Plan,ING Creating Star Guaranteed Future, ING AssuredReturns.
Retirement Plans: ING New Best Years, ING
Immediate Annuity.Investment Plans: ING Prospering Life SP, ING
Market Shield, ING Prospering Life, Powering Life, NewFull filling Life, ING Uttam Jeevan
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PROMOTERS
There are three types of promoters, those are
Agency module
Alternate channel. Bank Assurance.
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ORGANIZATION STRUCTURE
CEO- Mr.Kshitij Jain.
CDO(Chief Distribution officer- Mr.Rahul Agarwal.
Director of Sales: There are two director of sales one for South
region and another for North region in India. Director of sale for South region :Mr.T.K. Uthappa.
There 4 regional Vice-Presidents for South region. For Andhra
Pradesh regional Vice-President is Mr.U. Krishna Ved.
Under regional V.Ps there are 6 divisional general managersare present in Andhra Pradesh.
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CONT
Under divisional general managers, branch managers
will be their, afterbranch managers sales managers.
Their will be a Trainee for training the advisors in
each branch.
Guntur divisional manager is Mr. P.V.Siva Kumar and
branch mananger is M.Ismael and there are 24 sales
managers and there are 17 sales managers on board
and my sales manager is Mr.V. Ajay Kumar.
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CONT
Mr.Kshitij Jain
Mr.Rahul Agarwal.
Mr.T.K. Uthappa
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CONT
In the first week my plan was to approach different customers
in Pedanandipadu and some villages around the
Pedanandipadu. I want to approach 30 customers in
Pedanandipadu and villages around Pedanandipadu and I want
to make two policies in this area.
In the second week I want approach different customers in
various villages in Guntur district and I want to conduct a
presentation session on policies which was given to us at
Ponnur for teachers. I want to make one policy from thevillages and one from teachers.
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In the third week I want to contact with customers and I want
to get appointment from the customers of the Guntur. I want
to meet customers of builders owner association. I want to
approach customers present in apartments.
In fourth week I want to approach different customers in
Guntur In this week I want approach different customers in
Chirala and Vijayawada. I Chirala their was a cloth market and
I want to approach customers in that cloth market and I want
to make two policies form these two areas. I want to approachdifferent farmers in Pedanandipadu.
CONT
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ACHIEVEMENTS
I had got detailed information about Insurance
and Life Insurance and use of Life Insurance.
In order to business in a insurance sector every
person have to clear IRDA exam. I had cleared
my IRDA exam on 31st May 2011.
On 1st June 2011 onwards I was on the field work
and it was my first field work in my career. Onfirst of my field work I had explained the policy
details with three customers
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CONT
Policy Name Date Premium in Rs
Creating Life Child
Protection Plan
06-06-2011 10000
Creating Life Child
Protection Plan
13-06-2011 10000
Creating Life Child
Protection Plan
27-06-2011 8500
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LIMITATIONS
We have to meet different type of customers who will have
different type of attitudes.
Since LIC was a leading company in India and all customers
are thinking that LIC is Govt company. It was difficult tochange the customer mind set from LIC to our company. It
was difficult to gain trust of a customer.
I had approached different farmers in Pedanandipadu and the
villages around the Pedanandipadu and two customers agreed
to but the policy and their was change in climatic conditionsand they are started farming and they want some funds and
they are not preferring forbuying the policy.
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CONT
Many of the customers are preferring health Insurance
policies, because now a days their was vast increase in hospital
expenditure in order to overcome hospital expenditure
customers are preferring health insurance policies and our
company was not providing those type of policies.
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CONCLUSION
In SIP we can learn about customer relationship management,
report writing. We can also know about how to schedule a
week. In this we can also know about the company, products
in the company, organization structure of the company, market
price, position of the company, and how to handle customer,
and hoe to motivate the customer forbuying the product, we
can also know about time management.
In the month June2011 I had achieved 75% of my target
assigned by the company. I will achieve 100% in the July and Iwill make 6 policies.
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THANK YOU ONE AND ALL