hdfc lic selection process

7/28/2019 HDFC LIC Selection Process

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ACKNOWLEDGMENT

I was actively involved with HDFC Standard life insurance company ltd

Delhi, for a period of 8 weeks, and I came across a lot of people who

put in their time and effort towards acclimatizing me to the workings of their

organization.

Firstly I would like to thanks Mr. Matriyujay Tiwari is the BRANCH

MANAGER of the HDFC Standard Life Insurance Company Ltd. for giving me

opportunity to work with this organization.

I would like thanks Mr. Gujan Khare (SDM of HDFC Life Sagar) without whose

support, this project would not have been possible. Heartiest thanks for his

constant support and motivation.

My gratitude to everyone there at HDFC Standard Life Company who has

helped me directly or indirectly in the completion of this project.

Ranjana ChoudharyMBA 4th Sem.


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PREFACE

I have put my sincere efforts to accomplish my objectives within the stipulated time.

Despite all the limitations, obstacles, hurdles and hindrances, I have toiled and

worked to my optimum potential to achieve the desire goal. Being in the highly

competitive world of business, I came across some difficulties to make my

objectives a reality. Anyhow, with the kind help and genuine interest of one and all

and formally supported by the guidance of my guide, I am presenting this hand

carved effort in colored. I tried my level best to conduct a research to gain a

thorough knowledge about the project in my topic Recruitment and Selection of

HDFC Standard Life Insurance Company I have put the best of my efforts and

have also tried to do justice with the available. If anywhere something is found

unacceptable or unnecessary to the theme, you are welcome with your valuable

suggestions.


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CERTIFICATE

This is to certify that MS. RANJANA CHOUDHARY

(4TH Sem.) Completed his training and submitted a

project on HDFC LIFE" in partial fulfillment of the

requirement for the degree of Master of Business

Administration of Dr. Hari Singh Gour University

Sagar with his truly and honestly observed

inferences during his training..

I wish him bright future in his career.

Internal Examiner External Examiner


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Signature of Head of Deptt.

DECLARATION BY CANDIDATE

I declare that the Summer Training report on

Selection Process of HDFC LIFE in sagar "

is my own work, conduct under the supervision ofMr.

Gunjan Khare (SDM of HDFC LIFE SAGAR) . To

the best of my knowledge the report does not contain

any work which has been submitted for the award of

any degree, anywhere.

Signature of the

Candidate

RANJANACHOUDHARY

M.B.A. 4th SEM..


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ORGANISATION OVERVIEW

HISTORY

MAN WITH A MISSION

If ever there was a man with a mission it was Hasmukhbhai Parikh, Founder and

Chairman-Emeritus of HDFC Group who left this earthly abode on November18,1994. Born in a traditional banking family in Surat,Gujurat, Mr. Parikh started his

financial career at Harkisandass Lukhmidass a leading stock broking firm. The

firm closed down in the late seventies, but, long Before that, he went on to become a

towering figure on the Indian financial scene. In 1956 he began his lifelong financial

affair with the Economic world, as General Manager of the newly-formed Industrial

Credit and Investment Corporation of India(ICICI). He rose to become Chairman


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and continued so till his retirement in 1972.At the ripe age of 60, Hasmukhbhai

started his second dynamic life, even more Illustrious than his first. His vision for

mortgage finance for housing gave birth to the

Housing Development Finance Corporation It was a trend-setter for housingfinance in the Whole Asian continent. He was also a writer in his own right. There

are over 200 published articles by him...? In 1992, the Government of India honored

him with the Padma Bhushan Award.

London School of Economics & Political Science conferred on him an Honorary

Fellowship.He was one of the Founder Members of the Centre for Advancement of

Philanthropy, and its Chairman till 1993. He took active interest in the Bombay

Community Public Trust, designed specifically to serve the needs of the citys

underprivileged citizens. When Mr. Deepak Parikh took over as Chairman from

Hasmukhbhai, he said: Taking over from H.T. Parikh is a formidable task; hisvision brought about not Only an institution, but an entire concept which has

proved itself to be of lasting Importance.

The Standard Life Assurance Company ("Standard Life") was established in 1825

and the first Standard Life Assurance Company Act was passed by Parliament in

1832. Standard Life was reincorporated as a mutual assurance company in 1925.

The Standard Life group originally operated only through branches or agencies of

the mutual company in the United Kingdom and certain other countries.

Its Canadian branch was founded in 1833 and its Irish operations in 1838. This

largely remained the structure of the group until 1996, when it opened a branch in

Frankfurt, Germany with the aim of exporting its UK life assurance and pensions

operating model to capitalise on the opportunities presented by EC Directive

92/96/EEC (the Third Life Directive) and offer a product range in that market

with

In the 1990s, the group also sought to diversify its operations into areas which

complemented its core life assurance and pensions business, with the intention ofpositioning itself as a broad range financial services provider. Banking and

investment.

The group set up Standard Life Bank, its UK mortgage and retail savings banking

subsidiary, in 1998 and Standard Life Investments, which had previously been the

in-house investment management unit of the groups life assurance and pensions


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business, was separated into a distinct legal entity in the same year, with the aim of

establishing it as an independent investment management business providing

services to both the group and third party retail and institutional clients. The group

acquired Prime Health Limited (subsequently renamed Standard Life Healthcare) in

the United Kingdom in 2000. Standard Life Healthcare expanded in March 2006

with the acquisition of the PMI business of First Assist.

Standard Life Asia Limited/Joint ventures

The groups Hong Kong subsidiary, Standard Life Asia Limited (SL Asia), was

incorporated in 1999 as a joint venture and became a wholly-owned subsidiary of

Standard Life in 2002. The groups operations in Hong Kong were established to

give the group a presence in the Far East from which it could expand into China.

The groups joint ventures in India with Housing Development Finance Corporation

Limited (HDFC) were incorporated in 2000 (in relation to the life assurance and

pensions joint venture) and 2003 (in relation to the investment management joint

venture). The groups joint venture in China with Tianjin Economic Development

Standard Life International Limited -

The group also incorporated Standard Life International Limited (SLIL) in 2005

for the purposes of providing the group with an offshore vehicle, based in Ireland,

through which it could sell tax-efficient investment products into the United

Kingdom. Sales of these products commenced in 2006.

Service Company

Following the groups strategic review in 2004, the group established a service

company structure for the provision of central corporate services to the groups

business units. Standard Life Employee Services Limited (SLESL) supplies a


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wide range of central services to the rest of the group, including IT, facilities, legal

and human resources services, and employs staff working in the groups UK and

Irish operations (other than SLI, SLB and SLH, which employ their staff directly).

This service company structure was created to enable Standard Life to comply with

regulatory restrictions on the provision of non-insurance services and to exploit

group-wide synergies.

Company prospects

Introduction

HDFC Standard Life Insurance Company Limited. is one of India's leading private

insurance companies, which offers a range of individual and group insurance

solutions. It is a joint venture between Housing Development Finance Corporation

Limited (HDFC Limited), India's leading housing finance institution and a Group

Company of the Standard Life Plc, UK. As on February 28, 2009 HDFC Ltd. holds72.43% and Standard Life (Mauritius Holding) 2006, Ltd. holds 26.00% of equity in

the joint venture, while the rest is held by Others.

Our Percentage

HDFC Limited

HDFC Limited, Indias premier housing finance institution has assisted more than

3.3 million families own a home, since its inception in 1977 across 2400 cities and

towns through its network of over 250 offices. It has international offices in Dubai,

London and Singapore with service associates in Saudi Arabia, Qatar, Kuwait and

Oman to assist NRIs and PIOs to own a home back in India. As of December

2008, the total asset size has crossed more than Rs. 95,000 crores including the

mortgage loan assets of more than Rs. 82,800 crores. The corporation has a deposit

base of Rs. 17,551 crores, earning the trust of more than 9,00,000 depositors.

Customer Service and satisfaction has been the mainstay of the organization. HDFC


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has set benchmarks for the Indian housing finance industry. Recognition for the

service to the sector has come from several national and international entities

including the World Bank that has lauded HDFC as a model housing finance

company for the developing countries. HDFC has undertaken a lot of consultancies

abroad assisting different countries including Egypt, Maldives, and Bangladesh in

the setting up of housing finance companies.

Standard Life Group (Standard Life plc and its subsidiaries)

The Standard Life Group has been looking after the financial needs of customers

for over 180 years. It currently has a customer base of around 7 million people who

rely on the company for their insurance, pension, investment, banking and health-

care needs. Its investment manager currently administers 125 billion in assets. It is

a leading pensions provider in the UK, and is rated by Standard & Poor's as 'strong'

with a rating of A+ and as 'good' with a rating of A1 by Moody's. Standard Life was

awarded the 'Best Pension Provider' in 2004, 2005 and 2006 at the Money

Marketing Awards, and it was voted a 5 star life and pensions provider at the

Financial Adviser Service Awards for the last 10 years running. The '5 Star'

accolade has also been awarded to Standard Life Investments for the last 10 years,

and to Standard Life Bank since its inception in 1998. Standard Life Bank wasawarded the 'Best Flexible Mortgage Lender' at the Mortgage Magazine Awards in

2006.

Our Vision & Values

Our Vision

'The most successful and admired life insurance company, which means that we are

the most trusted company, the easiest to deal with, offer the best value for money,

and set the standards in the industry'.

'The most obvious choice for all'.

Our Values

Values that we observe while we work:

Integrity


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Innovation

Customer centric

People Care One for all and all for one

Team work Joy and Simplicity

Profile of the Board of Directors

Mr. Deepak S. Parekh is the Chairman of the Company. He is also

the Executive Chairman of Housing Development Finance

Corporation Limited (HDFC Limited). He joined HDFC Limited in a

senior management position in 1978. He was inducted as a whole-

time director of HDFC Limited in 1985 and was appointed as its

Executive Chairman in 1993. He is the Chief Executive Officer of

HDFC Limited. Mr. Parekh is a Fellow of the Institute of Chartered

Accountants (England & Wales).


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Sir Alexander M. Crombie joined the Board of Directors of the

Company in April, 2002. He has been with the Standard Life Group

for 34 years holding various senior management positions. He was

appointed as the Group Chief Executive of the Standard Life Group

in March 2004. Sir Crombie is a fellow of the Faculty of Actuaries in

Scotland.

Mr. Keki M. Mistry joined the Board of Directors of the Company

in December, 2000. He is currently the Managing Director of HDFCLimited. He joined HDFC Limited in 1981 and became an Executive

Director in 1993. He was appointed as its Managing Director in

November, 2000. Mr. Mistry is a Fellow of the Institute of Chartered

Accountants of India and a member of the Michigan Association of

Certified Public Accountants.

Ms. Marcia D. Campbell is currently the Group Operations Director

in the Standard Life group and is responsible for Group Operations,

Asia Pacific Development, Strategy & Planning, Corporate


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Responsibility and Shared Services Centre. Ms. Campbell joined the

Board of Directors in November 2005.

Ms. Renu S. Karnad is the Executive director of HDFC Limited, is a

graduate in law and holds a Master's degree in economics from Delhi

University. She has been employed with HDFC Limited since 1978

and was appointed as the Executive Director in 2000. She is

responsible for overseeing all aspects of lending operations of HDFC

Limited.

Mr. Norman K. Skeoch is currently the Chief Executive in Standard

Life Investments Limited and is responsible for overseeingInvestment Process & Chief Executive Officer Function. Prior to this,

Mr. Skeoch was working with M/s. James Capel & Co. holding the

positions of UK Economist, Chief Economist, Executive Director,

Director of Controls and Strategy HSBS Securities and Managing

Director International Equities. He was also responsible for

Economic and Investment Strategy research produced on a worldwide

basis. Mr. Skeoch joined the Board of Directors in November 2005.


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Mr. Gautam R. Divan is a practising Chartered Accountant and is a

Fellow of the Institute of Chartered Accountants of India. Mr. Divan

was the Former Chairman and Managing Committee Member of

Midsnell Group International, an International Association of

Independent Accounting Firms and has authored several papers of

professional interest. Mr. Divan has wide experience in auditing

accounts of large public limited companies and nationalised banks,

financial and taxation planning of individuals and limited companies

and also has substantial experience in structuring overseas

investments to and from India.

Associate Companies

HDFC LIMITED

HDFC BANK

HDFC MUTUAL FUND

HDFC SALESHDFC ERGO General Insurance

Other Companies
http://www.hdfc.com/http://www.hdfcbank.com/personal/default.htmhttp://www.hdfc.com/others/popup/about_us/hlsil.htmhttp://www.hdfcergo.com/http://www.hdfcfund.com/http://www.hdfc.com/http://www.hdfc.com/http://www.hdfcbank.com/personal/default.htmhttp://www.hdfcbank.com/personal/default.htmhttp://www.hdfc.com/others/popup/about_us/hlsil.htmhttp://www.hdfc.com/others/popup/about_us/hlsil.htmhttp://www.hdfcergo.com/http://www.hdfcergo.com/http://www.hdfcergo.com/http://www.hdfcergo.com/http://www.hdfc.com/


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HDFC Trustee Company Ltd.

GRUH Finance Ltd.

HDFC Developers Ltd.

HDFC Property Ventures Ltd. HDFC Ventures Trustee Company Ltd.

PROUCT RANGE & VARIETY

At HDFC Standard Life, we offer a bouquet of insurance solutions to meet every

need. We cater to both, individuals as well as to companies looking to provide

benefits to their employees. This section gives you details of all our products. We

have incorporated various downloadable forms and product details so that you can

make an informed choice about buying a policy.

For individuals, we have a range of protection, investment, pension and savings

plans that assist and nurture dreams apart from providing protection. You can

choose from a range of products to suit your life-stage and needs.

For organizations we have a host of customized solutions that range from Group

Term Insurance, Gratuity, Leave Encashment and Superannuation Products. These

affordable plans apart from providing long term value to the employees help in

enhancing goodwill of the company.

We at HDFC Standard Life realize that not everyone has the same kind of needs.

Keeping this in mind, we have a varied range of Products that you can choose from

to suit all your needs. These will help secure your future as well as the future of your

family.
http://www.hdfcinsurance.com/products/individual.asphttp://www.hdfcinsurance.com/products/group.asphttp://www.hdfcinsurance.com/products/individual.asphttp://www.hdfcinsurance.com/products/group.asp


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Type of products

(1) Protection

A. Term assurance plan

B. Loan cover term assurance plan

A) Term assurance plan:-

Under this plan, a sum assured is payable in case of death of the life

assured during the term of the contract. One can choose the lump sum that

would replace the income lost to ones family in the unfortunate event of ones

death. Since this no-participating plan is pure risk cover plan, no benefits are

payable on the survival to the end of the term of the policy.

B) Loan cover term assurance plan:-

This plan provides a lump sum on the unfortunate death of the life

assured during the term of the plan. The lump sum will be a decreasing

percentage of the initial sum assured. As the outstanding loan decreases as per

the loan schedule, the cover under the policy decreases as per the policy


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schedule. Since this is a non-participating, risk is there, no benefits are payable

on survival to the end of the term of the policy.

(2) Investment

Single premium whole of life

Single premium whole of life:-

Single Premium Whole of Life Plan is well suited to meet your long term

investment needs. This participating (with profit) plan offers you the following

benefits:

A sound investment:

Your money will be invested in our with profit fund. The fund aims to

provide secure and stable long term growth. Normally, we declare a compound

reversionary bonus for your policy every year and add it to your policy on itsanniversary. In addition, on death, surrender or on the guaranteed dates, a

terminal bonus might be payable. You have to pay a single premium and the

policy will pay you a lump sum amount.

Flexibility of term:

Even after choosing your policy, you can decide on the policy term. For 4

weeks after any one of the 10th, 15th, 20th, and subsequent five-year

anniversaries, you can choose to receive the sum assured plus any attaching

bonuses, in full. Once the money has been received, your policy will cease.


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(3) Pension plan

A. Personal pension plan

B. Unit linked personal pension plan

A) Personal pension plan:-

This participating plan is basically a saving contract, which is designed to

provide an income for life from retirement. It does this by providing a national

lump sum on retirement, comprising of sum assured plus any attaching bonus.

Subject to the prevailing regulations, part of this lump sum can be taken in

form of cash and the rest converted to an annuity at the rate then offered by

HDFC Standard Life. Alternately, if it is permitted by the prevailing regulation,

the national lump sum can be used to buy an annuity with any other insurance

company

B) Unit linked personal pension plan:-

The unit linked pension plan is basically an insurance contract, which is

designed to provide a retirement income for life. Your premiums are invested

in units of the investment fund of your choice, based on the prevailing unit

price. On investing the vale of your units will be used to buy your retirement

benefits. On earlier death, the beneficiary receives the value of your units plus a

cash lump sum of Rs. 1,000.


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(4) Saving

A. Unit linked endowment plan

B. Money back

C. Endowment plan

D. Unit linked youngster plan

LIST OF MAJOR COMPITITOIRS

1. Aviva Life Insurance

2. Bajaj Allianz

3. Birla Sun Life Insurance

4. ICICI Prudential Life Insurance

5. Kotak Mahindra Old Mutual Life Insurance Limited

6. Life Insurance Corporation of India (LIC)

7. Max New York Life Insurance

8. MetLife India Insurance

9. Reliance Life Insurance

10. SBI Life Insurance

11. ShriRam Life Insurance

12. TATA AIG Life Insurance

13. BHARTI AXA

Head Office

Edinburgh, Scotland (UK)

Worldwide Operations and Presence


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ACHIVEMENT OF THE COMPANY

Awards and Recognition

Year Award

2003 Company of the Year


2001 Best Personal Pension Provider


1999 Company of the Decade

1996-99 Company of the year

1995 4 star service award

1992-94 Overall best company

1991 3 star service award

Standard Life has been awarded the "Raising Standards" quality mark.

This shows that the Company:

uses clear language to describe their products on key documents,

have appropriate products and


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Provide a quality service for the customers.

Money Marketing Awards

Company of the Year every year from 1999 to 2005

Best Pension Provider 2004 and 2005

Best Group Pension Provider every year from 1998 to 2003

Best Personal Pension Provider every year since 1998 to 2003

Best Life Investment Product Provider 2003 and 2004

Gold Award in the Poster Campaign Category (Advertising) 2004

Money facts Investment, Life & Pensions Awards

Best Pension Product 2003, 2004 and 2005

Best Pension Service 2003, 2004 and 2005

Bank hall Achievement Awards

Pension Provider of the Year 2003 and 2004

Financial Adviser Provider Awards

Overall Winner in 1999, 2000, 2001 and 2002

Pensions Provider of the Year 1999, 2000, 2001, 2002 and 2003

Pensions Company of the Year 2004

Individual Pensions Company of the Year 2004

Group Pensions Provider of the Year 2004

Health Insurance Company of the Year 2004


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Financial Adviser Service Awards

Company of the Year every year from 1997 to 2001

5 Star Life and Pensions Provider every year from 1996 to 2004

5 Star Investment Provider every year from 1996 to 2002 and 2004

Industry Profile

INSURANCE

Insurance is a legal contract that protects people from the financial costs that result

from loss of life, loss of health, or property damage. Insurance provides a means for

individuals and societies to cope with some of the risks faced in everyday life.

People purchase contracts of insurance called policies from a variety of insurance

called policies, from a variety of insurance organizations.

Insurance is conceived as a method of saving of these losses , embodying the

principle of co-operation existed in the early civilization . There is evidence that

during the Aryan civilization , loss of profits in industry was insured by the village

co-operative in India .

Almost everyone living in modern , industrialized countries buys insurance for

instance laws in most states require people who own a car to buy insurance before

driving it on public roads . lenders require anyone who finances the purchase of

home or car with borrowed money to insure that property .business partners take out

life insurance on each other to make sure that business will succeed even if one of

the partner dies.

Two types of insurance:

Life insurance:


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Life insurance is a contract for payment of a sum money to the person assured on

the happening of the event insured against . usually the contract also provides for

the payment of premium periodically to the corporation by the assured.

General insurance:

General insurance includes many areas of insurance like maraine, motor, eng,

health, fire etc the contract provides for the payment of an amount on the happening

of some contingency .These types of contracts are annual in nature.

A. Origin and Development of the Industry

Historians believe that insurance first developed in sydney by babylonia . The

merchants and traders of these transferred and pooled their money to protect

themselves and pirates.

In the 18th century BC, Babylonian king samurai developed a code a law, known as

the code of specific rules governing the practices of early risk sharing

activities . Insurance also developed during the 1700s in the North American

colonies. In 1730 Benjamin frank contributed for the insurances of houses from loss

by fire.

Early development of insurance was unorganized . it was mainly insuring

commercial risks. The insurance in human life started in England in 1538 AD for

term assurance for 12 months ,which was issued for the first time . in 1705 amicable

society started paying assurance on death a term carried on unto 1757. in 1762

equitable society was the first co. to start charging premium on scientific basis.

In INDIA, the references to insurance history relates to the East India Co whensome policies were issued on the life of brusiers in foreign currency.

In 1870-Bombay mutual fund insurance ltd

In 1874-Oriental Govt security life assurance Co ltd


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In 1896-Bart insurance co. and 1897 empire of India

In 1905-no of insurance company life Hindustan co-op united India, Bombay life

national-Asian were setup up during the above period.

After 2nd world war several new companies were established ,most important being

new assurance co. others were Jupiter ,lame ,Andhra ,industrial metropolation and

new asiastic.

After 1st world war the peace of industrlization was accelarted in India. the swedish

movement had already gathered momentum and nationalism in the twenties,

Offices began to take due share of the country business .it continuously progressed

and there seemed to be steady rise in per capita insurance in the country.

The government started to exercise control with the passing of insurance act, 1912There was a marked increase in the volume of insurance business and other

form of business .in 1938 the deptt of insurance under the authority of the

supritendent of insurance was established. This act was futher amended in 1950 .

before nationalization there were 97 operatng centers almost all urban. There were

245 different insurance companies then.

Nationalization of the insurance business in 19 jan 1956. lic act was passed by the

parliament and recived presidential assent on 18 june1956 and act came on 1 sept

1956.

Insurance benefits the society by allowing individuals to share the risks faced by

many people but it also serves the other economic and societal functions because

insurance is affordable , banks can make loans with the assurance that the loan with

the assurance is easily covered against damage. Insurance also provides the capital

that communities need to quickly rebuild and recover economically from natural

disasters.

B.Growth and Present Status of the IndustryThe Indian insurance has finally opened up. The first move towards liberalization

came with Ampohra committee report in 1993. which recommended the

privatization of insurance .Indian stands to gain witty the following major

advantages :


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Better products with more reasonable and affordable pricing.

Quick servicing

Increased saving rate

Long term funds for infrastructure development will be available to thecountry.

Large inflows of foreign capital.

It is debated that the insurance business does not produce profit in the first five

year .

Cross subsidization is a feature of the Indian market . event the fire portfolio which

is considered profitable, cross subsidizes the other department . tariff reductions are

likely to reduce further. Insurer will have to institute proper claims managementprocess in order to extract proficiencies. The government is soon to present the new

model for tax saving life insurance companies at internationally competitive

advantage and sketch their alliances accordingly.

Infect alliances related to distribution rather than to product or technology will prove

most valuable in the long run . Brokers will come into the market for first time and

there is bound to be intense competition As a result of this in the multi channels of

distribution.

Since beginning of the world ,man has always felt insecurity for his assets and evenlife . there is uncertainty in every aspect of life, its an old saying that only death and

tax are certain. Uncertainties in every aspect of life is exposs to our assets to

losses and consequently endless problems. A fire in the factory may burn everything

and owner only of income with huge capital is finished but insurance will come for

rescue if its taken. Insurance does not only provide reimbursement but some

suggestive measures also to reduce the effect of hazards and losses .earthquake,

flood , riot, strike, theft, explosion etc.

Some of the common dangers to our assets. Moreover life insurance besidesproviding financial assistance to the insured, these policies provides investment

opportunities and even pension plans at market interest rate.

C. FUTURE OF THE INDUSTRY


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In Indian market, the opportunity for insurance companies is huge. The efforts of

government companies have lacked sincerity, as there is large untapped market even

after 61 years of nationalization. according to sources 30 cores people of India canafford insurance however only 8 cores of them have taken away. Life insurance in a

year is collected is only 2% of GDP in India with that of 12 % in USA. Total non

life insurance premium is mere of 0.6% of GDP which is almost negligible. on the

basis of this it can be sold that there is huge scope for insurance in India. The latest

foreseen in Indian market and the success of liberalized market in emergent

economies to make this opportunity. to avail this may international players

including the world leaders have setup their business in India form the last so many

years. i.e. Hdfc-slic, Icici Prudential life ,Max life insurance corporation , Bajaj-

allianz..


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SWOT Analysis of the HDFC Standard Life Insurance

Company

STRENGTH

1. HDFC has one of the highest brand recalls of around 80% (source: AC Neilson

ORG MARG).

2. HDFC has different types of training methods for their FCs, Agents or Advisor.

For Example Disha training, IRDA training, Basic training and induction,

Advanced training.

3. Financial Expertise.

4. One of the most aggressive marketing strategies.

5. Training provided to all people associated with the bank provides services like

checking the plan or policies online.

6. Free switching options online informing customers about the performance of

their investment by sending monthly reports and statements

9. Have around 145000 financial advisor

WEAKNESS

1. They are unable to target rural area as compare to LIC.

2. Poor awareness for new products in consumers Poor Distribution network.

3. Negligence to customers after the investment is sold.

4. Very Huge Premium of policies compared to major rival LIC.5. Target Upper class people only.

6. All Brochures are in English only.

7. Sometimes right advice is not given to the customers.

8. The full charges are not revealed to the customers


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OPPORTUNITIES

In India still there is a big market for insurance field.

1. 75% of Indian market is still untapped.

2. Attract more people by providing more customer centric products.

3. Strong brand of the bank helps to boost sales in market.

4. No.1 in adapting new technologies like online search etc.

5. Tie up with brokers also having a large data base of the customers.

6. Getting leads from the branch members.

THREATS

1. Many private players are coming into the market.

2. Some brands in the market gives there product with more features.

3. .LIC, ICICI & Bajaj Allianz is the major competitor with better network.

4. Threats from other banks selling same types of investments.

5. Change in the policies of IRDA.

6. Change in the mentality of people

7. Fear of the market to crash down.

8. Employee attrition.


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SELECTION OF FINANCIAL CONSULTANT

UNDERSTANDING SELECTION PROCESS

Recruitment function helps the organization to develop a pool of prospective human

resources. It is difficult for the HR manager to employ the suitable people out of the

pool. Infact, many organizations face critical problems in choosing the people.

Selection techniques and methods reduce the complexities in choosing the right

candidates for the job. After identifying the sources of human resources, searching

for prospective employees and stimulating them to apply for jobs in an organization,the management has to perform the function of selecting the right employees at the

right time. The obvious guiding policy in selection is the intention to choose the best

person who have good social contact. The objective of the selection decision is to

choose the individual who can most successfully perform the job from the pool of

qualified candidates. The selection procedure is the system of functions and devices

adopted in a given

company to ascertain whether the candidate specifications are matched with the job

specifications and requirements or not.

The selection process can be successful if the following requirements are satisfied:

Someone should have the authority to select. This authority comes

from the employment requisition, as developed by an analysis to the

workload and work force.

There must be some standard of personnel with which a prospective

employee may be compared, i.e. a comprehensive job description and

job specification should be available before hand.

There must be a sufficient number of applicants from whom the


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required number of employees may be selected.

The ability of an organization to attain its goal effectively and to develop in a

dynamic environment largely depends upon the effectiveness of its selection

programme. If the right person is selected, he is valuable asset to the organization

.

SELECTION PROCEDURE:

Selection procedure employs several methods of collecting information about the

candidates qualifications, experience, physical and mental ability, nature and

behavior, knowledge and aptitude for judging whether a givenapplicant is suitable

or not for the job. Therefore the selection procedure is not a single act but is

essentially a series of methods or stages by which different types of information can

be secured through various selection techniques. At each step facts may come to

light, which are useful for comparison with the job requirement and employee

specifications.

Steps in Scientific Selection Procedure:

Job analysis

Recruitment

Application form

Written examination

Preliminary interview

Tests

Medical examination

Reference checks

Line manager s decision


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IN DETAIL EXPLANATION:

(A) JOB ANALYSIS:

Job analysis is the basis for selecting the right candidates. Every organization should

finalize the job analysis, job description, job specification and employee

specifications before proceeding to the next step of selection.

(B) HUMAN RESOURCE PLAN:

Every company plans for the required number of and kind of employees for a futuredate. This is the basis for recruitment function.

(c) RECRUITMENT:

Recruitment refers to the process of searching for prospective employees and

stimulating them to apply for jobs in an organization. It is the basis for the

remaining technologies of the screening the candidates in order to select the

appropriate candidates for the jobs.

(D) DEVELOPMENT OF BASES FOR SELECTION:

The company has to select the appropriate candidates from the pool of applicants.

The company develops or borrows the appropriate bases/techniques for screening

the candidates in order to select the appropriate candidates for the jobs.

(E) APPLICATION FORM:

Application form is also known as application blank. The techniques of application

blank are traditional and widely accepted for securing information from the

prospective candidates. It can also be used as a device to screen the candidates at the


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preliminary level. Many companies formulate their own style of application forms

depending upon the requirement of

information based on the size of the company, nature of business activities, type and

level of the job etc. Information is generally required on the following items in the

application forms:

Personal background information

Educational qualifications

Work experience

Salary (drawing and expecting)

Personal attainments including likes and dislikes

References

(F) WRITTEN EXAMINATION:

Organizations have to conduct written examination for the qualified candidates after

they are screened on the basis of the application blanks so as to measure the

candidate s ability in arithmetical calculations, to know the candidate s attitudetowards the job, to measure the candidate s aptitude, reasoning, knowledge in

various disciplines, general knowledge and English language.

(G) PRELIMINARY INTERVIEW:

The preliminary interview is to solicit necessary information from the prospective

applications and to assess the applicant s suitability to the job. An assistant in the

personnel department may conduct this preliminary interview. The information thus

provided by the candidate may be related to the job or personal specifications

regarding education, experience, salary


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expectations, attitude towards job, age, physical appearance and other requirements

etc. Thus, preliminary interview is useful as a process of eliminating the undesirable

and unsuitable candidates. If a candidate satisfies the job requirements regarding

most of the areas, he may be selected for further process. Preliminary interviews are

short and known as stand up interviews or sizing up of the applicants or screening

interviews. However, certain required amount of care is to be taken to ensure that

the desirable workers are not eliminated. This interview is also useful to provide the

basic information about the company to the candidate.

(H) BUSINESS GAMES:

Business games are widely used as a selection technique for selecting management

trainees, executive trainees and managerial personnel at junior, middle and top

management positions. Business games help to evaluate the applicants in the areas

of decision-making, identifying the potentialities, handling the situations, problem-

solving skills, human relations skills etc. participants are placed in a hypothetical

work situation and are required to play the role situations in the game. The

hypothesis is that the most successful candidate in the game will be most successful

one on the job.

GROUP DISCUSSION is used in order to secure further information regarding the

suitability of the candidate for the job. Group discussion is a method where groups

of the successful applicants are brought around a conference table and are asked to

discuss either a case study or subject

matter. The candidates in the group are required to analyze, discuss, find alternative

solutions and select the sound solution. A selection panel then observes the

candidates in the areas of initiating the discussion, explaining the problem, soliciting

unrevealing information based


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on the given information and using common sense, keenly observing the discussion

of others, clarifying controversial issues, influencing others, speaking effectively,

concealing and mediating arguments among the participants and summarizing or

concluding aptly.

The selection panel, based on its observation, judges the candidate s skill and ability

and ranks them according to their merit.

In some cases, the selection panel may also ask the candidates to write the summary

of the group discussion in order to know the candidate s writing ability as well.

Types of test:

Tests are classified into six classes, each class is again divided into different types of

tests. They are:

APTITUDE TESTS:

These tests measure whether an individual has the capacity or latent ability to learn a

given job if given adequate training. Aptitudes can be divided into general and

mental ability or intelligence and specific aptitudes such as mechanical, clerical,

manipulative capacity etc. General aptitude test is of two types namely intelligence

quotient (IQ) and emotional quotient (EQ).

(1) Skill tests:

These tests measure the candidate s ability to do a job perfectly and intelligently.

These tests are useful to select the candidates to perform artistic jobs, product

design, design of tools, machinery etc. The candidates can be selected for assembly

work, testing and inspection also.

(2) Mechanical aptitude tests:


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These tests measure the capabilities of spatial visualization, perceptual speed and

knowledge of mechanical matter. These tests are useful for selecting apprentices,

skilled, mechanical employees, technicians etc.

(3) Psychomotor tests:

These tests measure abilities like manual dexterity, motor ability and eyehand

coordination of candidates. These tests are useful to select semi-skilled workers and

workers for repetitive operations like packing and watch assembly.

(4) Clerical aptitude tests:

These types of tests measure specific capacities involved in office work. Items of

this tests include spelling, computation, comprehension, copying, word measuring

etc.

ACHIEVEMENT TESTS:

These tests are conducted when applicants claim to know something as these tests

are concerned with what one has accomplished. These tests are more useful to

measure the value of a specific achievement when an organization wishes to employ

experienced candidates. These tests are classified into (a) job knowledge test and (b)

work sample test. Thus, the candidate s achievement in his career is tested regarding

his knowledge about the job and actual work experience.

SITUATIONAL TESTS:

This test evaluates a candidate s in a similar real life situation. In this test the

candidate is asked either to cope with the situation or solve critical situations of the

job.

(1) Group discussion:


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This test is administered through the group discussion approach to solve a problem

under which candidates are observed in the areas of initiating, leading, proposing

valuable ideas, conciliating skills, oral communicating skills, coordinating and

concluding skills.

(2) In basket:

Situational test is administered through in basket method. The candidate in this test

is supplied with actual letters, telephone and telegraphic message,reports and

requirements by various officers of the organization, adequate information about the

job and organization. The candidate is asked to take decisions on various items

based on the in basket information regarding requirements in the memoranda.

INTEREST TESTS:

These tests are inventories of the likes and dislikes of candidates in relation to work,

job, occupations, hobbies and recreational activities. The purpose of this test is to

find out whether a candidate is interested or disinterested in the job for which he is a

candidate and to find out in which area of the job range/occupation the candidate is

interested. The assumption of this test is

that there is a high correlation between the interest of a candidate in a job and job

success. Interest inventories are less faked and they may not fluctuate after the age

of 30.

PERSONALITY TESTS:

These tests prove deeply to discover clues to an individual s value system, his

emotional reactions and maturity and characteristic mood. They areexpressed in

such traits like self-confidence, tact, distrust, initiative, emotional control, optimism,

decisiveness, sociability, conformity,objectivity, patience, fear, judgment dominance

or submission, impulsiveness, sympathy, integrity, stability and self-confidence.


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(1) Objective tests:

Most personality tests are objective tests as they are suitable for group testing and

can be scored objectively.

(2) Projective tests:

Candidates are asked to project their own interpretation of certain standard stimulus

basing on ambiguous pictures, figures etc. under these tests. Personality tests have

disadvantages in the sense that sophisticated candidates can fake them and most

candidates give socially acceptable

answers. Further, personality inventories may not successfully predict job success.

A number of corrective measures tried as personality inventories are widely subject

to faking. They are:

Forced choice of Edward s personnel preference schedule.

Gordon personal profile.

The Minnesota Multi-phasic Inventory offers different methods for

identifying faking. The faking can be countered by repeating the same

question in different parts to measure consistency.

MULTI-DIMENSIONAL TESTING:

However, the need for multi-skills is being felt be most of the companies consequent

upon globalization, competitiveness and the consequent customer-centered

strategies. Organization have to develop multidimensionaltesting in order to find out

whether the candidates possess a variety of skills or not, candidate s ability to

integrate the multi-skills and potentiality to apply them based on situational and

functional requirement.


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(J) INTERVIEW:

Final interview follows after tests. This is the most essential step in the process of

selection. In this step the interviewer matches the information obtained about the

candidate through various means to the job requirements and to the information

obtained through his own observation during the interview. The different types of

interviews are:

PRELIMINARY INTERVIEW:

(1) Informal interview:

This is the interview, which can be conducted at any place by the person to secure

the basic and non-job related information. The interaction between the candidate and


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the personnel manager when the former meets the latter to enquire about the

vacancies or additional particulars in connection with the employment

advertisement is an example of the informal interview.

(2) Unstructured interview:

In this interview, the candidate is given the freedom to tell about himself by

revealing his knowledge on various items/areas, his background, expectations,

interest etc. Similarly, the interviewer also providesinformation on various items

required by the candidate.

CORE INTERVIEW:

It is normally the interaction between the candidates and the line executive or

experts on various areas of job knowledge, skill, talent etc. This interview may take

various forms like:

(1) Back ground information interview:

This interview is intended to collect the information which is not available in the

application blank and to check that information provided in the application blank

regarding education, place of domicile, family, health, interest, hobbies, likes,

dislikes and extra curricular activities of the applicant.

(2) Job and probing interview:

This interview aims at testing the candidate s job knowledge about duties, activities,

methods of doing the job, critical/problematic areas, methods of handling those

areas etc.

(3) Stress interview:

This interview aims at testing the candidate s job behavior and level of

understanding during the period of stress and strain. The interviewer tests candidate

by putting him under stress and strain by interrupting the applicant from answering,


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criticizing his opinions, asking questions pertaining to unrelated areas, keeping

silent for unduly long periods after he has finished

speaking etc. Stress during the middle portion of the interview gives effective

results. Stress interview must be handled with utmost care and skills. This type of

interview is often invalid, as the interviewer s need for a job and his previous

experience in such type of interviews may inhibit his actual behavior under such

situations.

(4) Group discussion interview: There are 2 methods of conducting group discussion

interviews, viz. group interview method and discussion interview method. All the

candidates are

brought into one room and are interviewed one by one under group interview. This

method helps a busy executive to save valuable time and gives a fair account of the

objectivity of the interview to the candidates. Under the discussion interview

method, one topic is given for discussion to

the candidates who assemble in one room and they are asked to discuss the topic in

detail. This type of interview helps the interviewer in appraising

certain skills of the candidates like initiative, inter-personal skills, dynamism,

presentation, leading, comprehension, collaboration etc. Interviewers are at ease in

this category of interview because of its informality and flexibility.

(5) Formal and structured interview:

In this type of interview, all the formalities, procedures like fixing the value, time,

panel of interviewers, opening and closing, intimating the candidates officially etc.

are strictly followed in arranging and conducting interview. The course of the

interview is preplanned and structured, in advance, depending on job requirements.

(6) Panel interview:

A panel of experts interview each candidate, judges his performance individually

and prepares consolidated judgement. This type of interview is known as panel


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interview. Interviewers for middle level and senior level mangers are normally

conducted are the panel of experts.

(7) Depth interview:

In this interview, the candidate would be examined extensively in core areas of job

skills and knowledge. Experts test the candidate s knowledge in depth. Depth

interviews are conducted for specialist jobs.

DECISION-MAKING INTERVIEW:

After the experts including the line managers of the organization in the core areas of

the job examine the candidates, the head of the department/section concerned

interviews the candidates once again, mostly through informal discussion. The

interviewer examines the interest of the candidate in the job, organization,

reaction/adaptability to the working conditions, career

planning, promotional opportunities, work adjustment and allotment etc. The

personnel manger also interviews the candidates with a view to find out his

reaction/acceptance regarding salary, allowances, benefits, promotions,

opportunities etc. The head of the department and the personnel manager exchange

the view and then they jointly inform their decision to the

chairman of the interview board, which finally makes the decision about the

candidate s performance and their ranks in the interview. Most of the organizations

have realized that employee s positive attitude matters much rather than employee s

skill and knowledge. Employees with positive attitude contribute much to the

organization. Hence, interviewers look for the candidates with the right attitude

while making final decision.


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(K) MEDICAL EXAMINATION:

Certain jobs require certain physical qualities like clear vision, perfect hearing

unusual stamina, tolerance of hardworking conditions, clear tone etc. Medical

examination reveals whether or not a candidate possesses these qualities. Medical

examination can give the following information:

Whether the applicant is medically suited for the specific job

Whether the applicant has health problems or psychological attitudes

likely to interfere with work efficiency or future attendance.

The offer. Whether the applicant suffers from bad health which should

be corrected before he can work satisfactorily

It reveals the applicant s physical measurements and

It is used to check the special senses of the candidates.

(L) REFERENCE CHECKS:

After completion of the final interview and medical examination, the personnel

department will engage in checking references. Candidates are required to give thenames of references in their application forms. These references may be from the

individuals who are familiar with the candidates academic achievement or form the

applicant s previous employer, who is well versed with the applicant s job

performance, and sometimes from coworkers. Incase the reference check is from the

previous employer; information for the following areas may be obtained. They are

job title, job description, and period of employment, pay and allowances, gross

emoluments, benefits provided, rate of absence, willingness of the previous

employer to employ the candidate again and soon. Further, information regarding

candidate s regularity at work, character, progress etc. can be obtained.


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Often a telephone call is much quicker. The method of mail provides detailed

information about the candidate s performance, character and behavior. However, a

personal visit is superior to the mail and telephone methods and is used where it is

highly essential to get the detailed, actual

information, which can also be secured by observation. Reference checks are taken

as a matter of routine and treated casually or omitted entirely in many organizations.

But a good reference check used sincerely will fetch useful and reliable information

to the organization.

(M) FINAL DECISION BY THE LINE MANAGER:

The line manager concerned has to make the final decision whether to select or

reject a candidate after soliciting the required information through techniques

discussed earlier. The line manager has to take much care in taking the final

decision not only because of economic implications but alsobecause of behavioral

and social implications. A careless decision of rejecting would impair the morale of

the people and they would suspect the selection procedure and the basis of selection

of this organization. A true understanding between line managers and personnel

managers should be established to take proper decisions.

(N) JOB OFFER:

Thus, after taking the final decision, the organization has to intimate this decision to

the successful as well as unsuccessful candidates. The organization offers the job to

the successful candidates either immediately or after some time depending upon its

time schedule. The candidate after receiving job offer communicates his acceptance

to the offer or requests the company to modify the terms and conditions of

employment or rejects the offer.


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RECRUITMENT AND SELECTION AT HDFC STANDARD LIFE

Recruitment is the process of attracting prospective candidates who are likely to get

selected. Recruitment process starts with the drafting of advertisement for the

required post mentioning the name of the post, qualifications required, place of

posting etc. the advertisement is released in all major and national newspaper across

the country. Not only print media, but other media like internet is also used for

posting the advertisement. Placement agencies and educational institutions are

considered if the requirements are for fresh graduates. Employee references by are

also encouraged. After receiving the applications, it is initially screened by HR

division based on minimum requirements and qualifications prescribed for the post.

Screened applications from HR division are sent to respective divisional heads for

their screening in case of applications for higher posts. Selection is the process of

selecting right candidates from the list of prospective candidates. Selection process

involves tests, interviews, group discussions, psychometric tests or a combination of

these depending on the nature or sensitivity of the level and the post. For technical

posts, tests are used as elimination means while for some other posts like

management trainee, tests are not used as elimination means. The shortlisted

candidates are called for the final interview. Regret letters are sent to those who are

not shortlisted. Background checking of the shortlisted candidates is done to ensure

that they will fit with the culture of the organization. Job offers are made to theselected candidates and they are asked to give their confirmation that they accept the

job offer. On receiving their confirmation, appointment letter is prepared by

personnel and administration division and given to the candidate at the time of


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joining. Salary offer is a part of Human resource division while personnel and

administration division handles salary administration.

METHODOLOGY

Generally two types are data are used for any research, which are very important for

the research, these can be discussed as

1. Primary Data

2. Secondary Data

Primary Data

Primary data are the data which are original in character, obtained for the first time,

being collected from the respondents, either through questionnaire or through

personal interviews. This can be collected by various methods like

Surveys

Observation

Experimentation

Measurements

Personal interview

Telephonic interview

Questionnaires

But my chosen way of collecting data was through Personal Interview and

Questionnaires.


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Secondary data

Secondary data is the data, which has been collected by someone else for some other

purpose and is used by the researcher in his research for study.

Various sources of secondary data are Catalogues, Brochures, Magazines and

Websites, Television etc. In this project I made use secondary data for gaining more

and more about the company, its products and various benefits an advisors will be

getting. For acquiring this knowledge I have studied secondary sources like

company websites, brochures, paper presentations etc.

Analysis of data / Statistical data

After the data is collected the researcher has to analyze the collected data, the

researcher has to classify the data into purposeful and usable category. The analysis

can be done by means of various statistical measures. For representation of the data

use of bar charts, Pie Chart is made.

Interpretation of data

After data analysis is done, the obtained information is interpreted and various

inferences are made and also conclusions are drawn related to the objectives, which

have been listed, in the beginning of project.


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ANLAYSIS AND FINDINGS

From the analyzed data I could find that

The main source of the recruitment is through external sources i.e. through

advertisement.

The other source of recruitment is through references , natural market and

consultants.

Maximum prospects fulfils all the criteria prescribed by the IRDA.

Research shows that the Financial Advisors generally belong to the age of 30-

50 years

It is found that the company provides both types of training and mainly

prospects goes for the online training.

Every year company recruits as many as 50 Advisors in order to increase the

sales force of the company.

Most of the recruited people are aware of the insurance sector and the person

who are not aware of the insurance sector are made aware through the training

before sitting for the test.

It has been found through the studies that most of the candidate recruited

belongs the banking and insurance sector . It means that they are having some

knowledge about the insurance sector.


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For most of the prospects attending 21 days training is a major problem. As

the timings for the training are full time 10:30 am to 5.00 p.m.

For most of the prospects they join HDFC STANDARD LIFE for the extra

income.

Most of the recruited people continue working as a Financial Advisor.

LIMITATIONS

1) This Project Report is restricted only for the interviewed people.

2) Biased reply of the respondents like giving wrong information.

3) Non availability of the data or the relevant information of the respondent.

4) Sometimes it happens that the respondent was busy so as to get the

information it becomes difficult

5) The project is done in near by areas of the Sagar Branch of the company &

therefore findings of it may not be applicable in other areas.

6) Time Constraints The duration of the project is only 2 months. In this

duration we have to finish the project so the sample size considered for this

project is also limited which may give some misleading outputs.

7) Although ICICI Prudential is a well known brand, it invests heavily in the

advertisements, but somehow the concept of financial advisor was not known


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to the customers and it requires great amount of efforts to convince the

various benefits to them.

CONCLUSION AND SUGGESTION

1. It is found that in the last five years the Indian economy has progressed,

which has increased the average purchasing power & the insurance sector has

contributed significantly in this.

2. Since last five to six years many Private Company has entered in insurance

sectors & because of which the Indians are having number of options in front

of them investing their money & to safeguard the life.

3. While doing this project it is found that recruiting of the advisor is done by

the Unit Manager, and the parameters on which the advisors are to be

recruited are :

Income Level 1.2 lacs to 2 lacs per annum

Marital Status Married

Age above 25 years

Minimum Education Graduation

Staying in the same city for more than 5 years

4. The study of the profile of the advisor is depending on their industry

background i.e. their work experience and the age wise distribution.


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5. The level of awareness of the prospects about the private insurance company

has increased because of the heavy advertising ad marketing by the

companies over the period of time.

6. It is important to appoint only those prospects as financial advisor, who can

give & generate long term business for the company, so to analyze the

prospects & study their status is very important thing.

7. Most of the prospects wanted to join, as their first preference to earning extra

money, second to start business with no capita investment, third to

Association with the No. 1 Private Life Insurance Company.

Based on the findings in the Research following suggestions are made

Finding new prospects is like breathing, so Unit Manager should be in regular

touch with the market so that he will gets some good prospects.

Company should go for regular Market Survey for finding out the smart

worker who can stay under the Managers Sales Team, and will generate long

term business.

Branch Manager should take the feedback from the existing advisors so that

he can easily understand the advisors problem as well s he can recommend

new changes.


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The company should concentrate on the rural part so that they can compete

with LIC India, and can generate some business from there as it is found that

most of the Private Life Insurance companies are targeting the urban market.

Company should follow the pull strategy where it can use advertising media,

by preparing attractive Ads, through Newspaper, T.V. , and radio can increase

the awareness about the company & will help in improving the market share.

Unit Manager should meet regularly with the existing advisors so that he can

find out their problems & also take their suggestions.

BIBLIOGRPHAY

WEBSITES :

1) www.hdfcslic.com

2) www.insuranceguide.com

3) www.economictimes.com

BOOKS :
http://www.hdfcslic.com/http://www.insuranceguide.com/http://www.economictimes.com/http://www.hdfcslic.com/http://www.insuranceguide.com/http://www.economictimes.com/


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1) HUMAN RESOURCE MANAGEMENT : SHASHI K. GUPTA

2) PERSONNEL MANAGEMENT : C. B. MAMORIAL

JOURNALS & ARTICLES :

1) IRDA JOURNAL

2) BROUCHERS & REPORTS OF COMPANY

ANNEXURE

Name:

Age : Sex :

Q1. How many candidates are generally recruited for financial advisor through

various sources of recruitment ?

Natural market

References

Advertisement

Consultants


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Q2. Does the people recruited fulfils all the criteria for being financial advisor

(criteria- married , age>25 yrs , graduate , living in a city for more than 5 years ,

income should be nearly 2 lacs)?

Yes

No

Partially

Q3. Which age group of people are generally forms the majority as a Financial

Advisor?

25-30 years r

30-50 years

50-65 years

Q4. Which kind of trainings are generally provided by the HDFC-SLIC for the

Advisors ( which is compulsory by the IRDA before sitting for the test)?

Online Training

Classroom Training

Both

Q5. Which kind of training does generally future financial advisors goes for?

Online Training


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Classroom Training

Q6. How many Financial Advisors are generally recruited by the company (at the

kothrud)?

>10

10>25

25>50

50>60

Q7. Do the recruited people do have the knowledge of insurance sector?

Yes

No

Q8. Are you satisfied with the procedure of test conducted by the IRDA

department?

Yes

No

Cant Say

Q9. Do all the recruited people continue working as Financial Advisor?

Yes


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No

Cant Say

Q10. What is the average work experience of Financial Advisor in HDFC

STANDARD LIFE?

No experience

More than 2 years

Less than 2 years

Q11. Who are mostly appointed for the post of Financial Advisor?

Banking & Finance

Medical Science

IT

Teacher

Others

hdfc lic selection process

Documents