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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.

  • 8/6/2019 Bala Srika

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