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TRANSCRIPT
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Company
Introduction
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Jamsetji Nusserwanji Tata starts a private tradingfirm, laying the foundation of the Tata Group in
1868.
The Tata Group is one of India's best-knownindustrial groups with an estimated turnover ofaround US $14.25 billion
The Tata Group pioneered several firsts in Indian
industry firsts, including: India's first private sector
steel mill, first private sector power utility, firstluxury hotel chain and first international airline,
amongst others.
With more than 220,000 employees across 91 major
companies, it is also India's largest employer in the
http://www.tata.com/index.htm -
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American International Group, Inc. is the world's
leading international insurance and financial services
organization, with operations in more than 130
countries
US-based international insurance and financial
services organization
AMERICAN GROUP OF
COMPANIES (AIG)
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TATA-AIG is a joint venture
between TATA and AIMERICAN
INTERNATIONAL GROUP
TATA + AIG
=
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Tata-AIG Life Insurance company is a joint
venture between the Tata Group and
American International Group Inc (AIG)
Incorporation - Tata AIG Life Insurance
Company was licensed to operate in India on
February 12, 2001 by IRDA
Started operations - April 1, 2001.
Tata Group holds 74 per cent stake in the
two insurance ventures with AIG holding the
balance 26 per cent stake.
TATA-AIG
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Company Performance
0
50
100
150
200
250
300
2002-2003 2003-2004 2004-2005
Premium
Income(In
Crore)Growth236%
Growth253%
21
70.90
254
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Recently became the
highest premium taker ininsurance sector
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Research
Methodology
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Data Collection
Primary Data Collection
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Data collection form primary sources were done by
the preparation of questionnaire one each for thedealers and the customers. This was done to support
and verify the facts provided by the secondary
sources.For this purpose the trainee interviewed adetermined number of customers and dealers by the
method of face to faced interview. The questionnaire
was in objective form, which was framed for theconvenience of the dealers, customers and the trainee,
which further help in the presentation of the results
thus obtained.
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Objectives of the Study
MAIN OBJECTIVE
The main objective of this project
is Recruitment of ADVISOR and
Market Survey of RetirementPlanning.
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SUBSIDIARY OBJECTIVES
qTo analyse ADVISOR recruitment policies of companyand recommend necessary changes required.
qTo identify ways by which ADVISOR can improve theirskills.
qTo analyse customers satisfaction as regards services,product & relationship of the company (with customers)
and other attributes.
qTo collect data for recruiting new ADVISOR.qTo collect data related to Critical Illness and MedicalCost.
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ADVISOR
recruitment atTATA-AIG
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What is a ADVISOR ?
ADVISORis a PROFESSIONAL and
SKILLEDperson, CERTIFIEDto
work as a REPRESENTATI VEof the
company and who is able to recommend
the best solutions based upon the
individual customers needs.
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What is the Role of ADVISOR at TATA-AIG?
Analyze the customers financial requirements .
Recommend appropriate life insurance solutions.
Make the customers able to meet their financial
objectives in the most optimum manner.
Provide support to customers on an ongoing
basis.
Positively promote the co. brand, its mission,
aims, and values.
Set, monitor and achieve the sales target.
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Who could be a financial ADVISOR?
18+ year of age.
10+2 passed.
Willing to undergo 100 hrs. IRDA
mandatory training
Has no agency with any life insurance co.
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Why Recruitment ?
ADVISOR Recruitment is a Basic process.
ADVISOR Recruitment ensures desired results .
ADVISOR Recruitment is an endless process.
More ADVISOR Recruitment = More Business.
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Search & Identify the target Profile.
Making Business Opportunity Presentation (BOP)
Cold Calls
Using the FOLDER PRESENTATION TECHNIQUE.
Building on Relationship & getting references also.
Train ,Coach & motivate them time to time.
PROCESS
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MARKET SURVEY ON
RETIREMENTPLANNING
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Q1. How important is to save for your retirement?
A. Very important
B. Important.
C. Not so important.
D.Not at all important
Importantance to save for retirement
in the market survey
Not at all
important2%
Important
40%
Very
important
53%
Not so
important
5%
Very important
Important
Not soimportant
Not at allimportant
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Q3. what is your current monthly household expenditure?
A. Upto Rs. 10,000 per month.
B. Between Rs. 10,000Rs. 25,000 per month.
C. Between Rs. 25,000Rs. 50,000 per month.
D. Between Rs. 50,000Rs. 1,00,000 per month.
E. Above Rs. 1,00,000 per month.
Currently monthly household
expenditure in the market survey
9%
2%
22%
56%
11%
Upto Rs.10,000 permonth.
Between Rs.10,000 Rs.
25,000 permonthBetween Rs.25,000 Rs.
50,000 per
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Q4. how many years do you have before you retire?
A. 0 to 5 years
B. 6 to 10 years
C. 11 to 20 years
D. 21 to 30 years
E. More than 30 years
Years left for retirement in the
market survey
30%
20%
15%
10%
25%
0 to 5 years
6 to 10 years
11 to 20 years
21 to 30 years
More than 30
years
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Q5.what is the amount do you think you would require for monthly expenses after retirem
A. Upto Rs. 10,000 per month.
B. Between Rs. 10,000Rs. 25,000 per month.
C. Between Rs. 25,000Rs. 50,000 per month.
D. Between Rs. 50,000Rs. 1,00,000 per month.
E. Above Rs. 1,00,000 per month upto Rs. 1,00,000.
Amount require for monthly
expenses after retirement
60%
20%10%
7%
3%
Upto Rs. 10,000 per
month
Between Rs. 10,000
Rs. 25,000 per month
Between Rs. 25,000
Rs. 50,000 per month
Between Rs. 50,000
Rs. 1,00,000 per
monthAbove Rs. 1,00,000
per month upto Rs.
1,00,000
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Q6. How much money do you save on a monthly basis exclusively for your retir
A. Upto Rs. 5,000 per month.
B. Between Rs. 5,000Rs. 10,000 per month.
C. Between Rs. 10,000Rs. 25,000 per month.
D. Between Rs. 25,000Rs. 50,000 per month.E. Above Rs. 50,000 per month.
Money save on monthly basis for
retirement purpose in the market
survey50%
20%
10%
15%
5%
upto Rs. 5,000 per
month.
Between Rs. 5,000
Rs. 10,000 per month
Between Rs. 10,000
Rs. 25,000 per month
Between Rs. 25,000
Rs. 50,000 per month
Above Rs. 50,000 per
month
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Limitations of the Study:
Q Sample size was very small as compared to theuniverse.
Q There might be biasness in view of somerespondents. Some of the respondents may have
totally different view with respect to the totalsample size, which may or may not affect the final
outcome of the research.
Q Majority of the respondents were lacking fromthe dedication in giving response.
Q Time constraint was one of the majorlimitations while conducting the research
Q Customers didnt met as per appointmentsgiven by them.
Q Database was not up-to-date, most of
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Findings And Recommendations
vTATA-AIG Life Insurance is among 14 players who are running Life
Insurance business in India.
V Being a private company, to grow in market, company has to giveextra services for customer delightment.
V One of main reason of dissatisfaction of customers was of irregularor no contact of Advisor after policy was taken by the customer, whichshould be handled by giving strict instructions to Advisor to keep
regular contact with the existing customers.
V Company should regularly communicate to the policyholdersregarding new plans introduced by the company through mails, emails,
sms, brouchers or any other means.V Agent base of the company should be increased, as practiced byLIC. Life Insurance is mainly a relationship-based business; therefore
individuals having contacts should be made agents of the company.
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Cont
vImprovement in advertisement and sales promotion techniques bothat local and national level should be there, in order to increase
awareness about company and its products.
vGift articles or even greeting cards should be given by the companyon occasions like New Year, Birthday, Independence Day or any other
festival, so that the customer feelings are touched by the company.vRegular surveys should be conducted regularly or one tele-officershould be appointed for making calls to the existing customers to solve
there problem, if any.
vMore hoarding should be used in the city for advertisement orsponsorship should be given of some grand event.vCustomers should be encouraged to bring new customers, by givingthem some gifts or financial incentives.
vRegular advertisement in Newspaper
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THANK YOU
Prepared by:-
JAYANT BHATI
M.B.A. Part-I
J.I.M. Jodhpur