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Prepared byAniruddh Solanki

Summer Training Report

on

KOTAK Mahindra Prime

Ltd.

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INTRODUCTION

Insurance is a contract between insurance company &insurer.

Insurance is a provision for the distribution of risks;that is to say, it is a financial provision against lossfrom unavoidable disasters.

The Insurance Act 1938 was the first legislationgoverning not only life insurance but also non-life

insurance to provide strict state control over insurancebusiness.

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COMPANY PROFILE

HDFC Standard Life, one ofIndias

leading privatelife insurance companies, offers a range of individual

and group insurance solutions.

It is a joint venture between HDFC, Indias leadinghousing finance institution and Standard Life, the

leading provider of financial services in the United

Kingdom.

HDFC Ltd. holds 72.43% and Standard Life Ltd.

holds 26.00% of equity in the joint venture, while the

rest is held by others.

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HDFC Limited, India's premier housing finance

institution has assisted more than 3.4 million families own

a home, since its inception in 1977 across 2400 cities andtowns through its network of over 271 offices.

It has international offices in Dubai, London and

Singapore.

HDFC has set benchmarks for the Indian housing finance

industry. Recognition for the service to the sector has

come from several national and international entitiesincluding the World Bank that has launched HDFC as a

model housing finance company for the developing

countries.

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Standard Life is one of the UK's leading long term

savings and investments companies headquartered in

operating internationally.

Established in 1825, Standard Life provides life

assurance and pensions, investment management and

healthcare insurance products to over 6 millioncustomers worldwide.

The Group has around 10,000 employees across theUK, Canada, Germany, Austria, India, USA, Hong

Kong and mainland China.

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ORGANIZATION STRUCTURE

Territory Manager

Branch Manager

Assistant

Sales Manager

Business Development

Manager

Sales Development

Manager

Financial

Consultant

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Protection Plans

HDFC Term Assurance Plan HDFC Premium Guarantee Plan

HDFC Loan Cover Term AssurancePlan

HDFC Home Loan Protection Plan

Childrens Plans

HDFC YoungStar Super

HDFC YoungStar Supreme

HDFC YoungStar Super Suvidha

HDFC YoungStar Supreme Suvidha

Health Plans

HDFC Critical Care Plan

HDFC SurgiCare Plan

Retirement Plan

HDFC Pension Super HDFC Pension Supreme

HDFCSL Pension Champion

Savings & Investment Plans

HDFC Endowment Assurance Plan

HDFC Money Back Plan

HDFC Endowment Super

HDFC Endowment Supreme

HDFC SimpliLife HDFC Endowment Super Suvidha

PRODUCT OF HDFCSLIC

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SWOT ANALYSISSTRENGTH

Good international image

Strong & qualified

intermediaries & sales person

Provides customer service of

the highest order

Huge basket of product range

which are suitable to all age &

income group

Large pool of technicallyskilled manpower

Good capital & reserve

WEAKNESS

Heavy management expanses

administrative costs

Low customer confidence on

private players

Vertical hierarchical reporting

structure with many

designations

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OPPORTUNITIES

Insurable population

According to IRDA only 10%

of the population is insured,which represents around 30%

of the insurable population.

This suggests more than 60%

people, with the potential tobuy insurance, remain

uninsured.

International companies will

help in building world class

expertise in local market by

introducing the best global

practices.

THREATS

Big public sector insurance

companies like Life Insurance

Corporation (LIC) of India,National Insurance Company

Limited, Oriental Insurance

Limited, New India Assurance

Company Limited and United

India Insurance Company

Limited. People trust and go to

them more.

Most people dont understand

the need or are not willing to

take insurance policies in

general.

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ASSIGN TASK ON

Future Finance Planning by

Insurance

RESPONSIBILITIES

Telecalling

Taking Appointment of Customer for

meeting Explain plans to customer for their

needs

Convincing the customers

Interacting skill

CHALLENGES FACED

When Customer are not

educated, that time they

believe only in LIC Convince the customer

Customers are not believe in

private sector so that time

big challenge for me

LEARNING

Selling Skill

Communication Skill

Personality Development

Convincing the customers

Self Confidence

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ACHIEVEMENT

I have collected premium amount of Rs.60,000 in twomonths of training period

I have also taken my agency code.

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SUGGESTION

Due to lack or less awareness of people about Insurance

they are not investing in it. Hence, it is necessary toeducate them by arranging some educational seminar beon Insurance to show them how to invest in Insurance?What is the Insurance? What is the risk covered inInsurance?

Investors who are interested in fix income will invest inInsurance.

Most of people know only Insurance but not ULIP withinsurance. Hence, it is necessary to increaseadvertisement effort for HDFCSLIC because peoplebelieve only LIC.

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CONCLUSION HDFC Standard Life offers various products according

to the need of the people.

Every member of HDFC Standard Life team is

committed to our customers, ownership, knowledge,

attitude and passion. Providing an enabling environment

for growth and learning for their employees.

A well-regulated life insurance industry which moveswith the times by offering its customers tailor-made

products to satisfy their financial needs is, therefore,

essential if we desire to progress towards a worry-free

future.

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