Visit hrmba.blogspot.

com for more project

reports, notes, presentations etc.

Project on

CHANNEL DEVELOPMENT

AT MAX NEW YORK LIFE”

Master of Business Administration (H.R.M)

1
 Visit hrmba.blogspot.com for more project
reports, notes, presentations etc.
INDEX OF CONTENTS

Chapter 1- RATIONALE FOR THE STUDY

Chapter 2- OBJECTIVE OF THE STUDY

Chapter 3- PROFILE OF THE COMPANY

Chapter 4- REVIEW OF LITERATURE

Chapter 5- RESEARCH METHODOLOGY

Chapter 6- DATA ANALYSIS

Chapter 7- FINDINGS

Chapter 8- LIMITATIONS

APPENDIX

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Chapter-1 : RATIONALE OF THE STUDY

Indian insurance industry is emerging rapidly after year 2000. To survive in this

highly competitive scenario, managers are being pressured to improve quality,

recruit quality and skilled people and eliminate inefficiency. The collective efforts

of the employer, managers and other relative people assume relevance in this

context. And this is where marketing management and human resources play

important role.

Recruitment is very important in today’s scenario. But still it is ignored and

considered as a secondary aspect. In case of insurance industry recruitment only

decide success or failure of company.

I have made an attempt to study this aspect of Insurance industry in my project. In

this project, recruitment for developing channel at Max New York Life is

considered. I have tried to find out how exactly recruitment is very important for

this firm as well as this industry, which are the different strategies firm use to

recruit quality people and so on. It is more qualitative rather than a quantitative

data.

3
To get knowledge of above question and to fulfill the requirements for my project

on “Channel Development At Max New York Life”, I have worked in MNYL and

searched some internet sites.

On the basis of my study, I have included following topics as the important aspect

of Channel Development At Max New York Life.

Insurance industry introduction.

Strategies for recruitment.

Eligibility of recruitment and so on.

In this project I have tried to give attention to all the above topics and study them

in depth. But I would still like to receive all sorts feedback to enhance my

knowledge on the topics as far as this industry is concern.

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Chapter-2: OBJECTIVES OF STUDY

The main objective of the “Channel Development” is to recruit quality agent

advisors (AA) for the company for providing life Insurance solutions to the

customers. AA plays a vital role in the growth of company with respect of

company’s earnings as well as they create value for the organization after

achieving some milestones. AA are integral part of the team and sales manager

assigned to them help them to groom them in terms of personality development,

selling skills and handling objections of customers.

Chapter-3: PROFILE OF THE COMPANY

Max New York Life Insurance Company Ltd. is a joint venture between
New York Life and Max India Limited.

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New York Life is a Fortune 100 company and Max India Limited is one of
India's leading multi-business corporations.

The company has positioned itself on the quality platform.

It has developed a strong corporate governance model based on the core

values of excellence, honesty, knowledge, caring, integrity and teamwork.

The strategy is to establish itself as a trusted life insurance specialist through

a quality approach to business.

In line with its values of financial responsibility, Max New York Life has
adopted prudent financial practices to ensure safety of policyholder's funds.

The Company's paid up capital is Rs. 657 crore, which is more than the
norm laid down by IRDA.

Max New York Life has identified individual agents as its primary channel
of distribution.

The Company places a lot of emphasis on its selection process, which

comprises four stages –

Screening,

Psychometric test,

Career seminar

Final interview.

The agent advisors are trained in-house to ensure optimal control on quality
of training.

Max New York Life invests significantly in its training programme.

Each agent is trained for 152 hours as opposed to the mandatory 100 hours
stipulated by the IRDA before beginning to sell in the marketplace.

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Training is a continuous process for agents at Max New York Life and
ensures development of skills and knowledge through a structured
programme spread over 500 hours in two years.

This focus on continuous quality training has resulted in the company

having amongst the highest agent pass rate in IRDA examinations and the
agents have the highest productivity among private life insurers.

201 agent advisors have qualified for the Million Dollar Round Table
(MDRT) membership in 2005.

MDRT is an exclusive congregation of the world’s top selling insurance

agents and is internationally recognized as the standard of excellence in the
life insurance business.

Having set a best in class agency distribution model in place, the company is
spearheading a major thrust into additional distribution channels to further
grow its business.

The company is using a five-pronged strategy to pursue alternative channels

of distribution.

These include the franchisee model, rural business, direct sales force
involving group insurance and telemarketing opportunities and corporate
alliances.

Max New York Life offers a suite of flexible products.

It now has 26 life insurance products and 8 riders that can be customized to
have more than 400 products.

REWARD AND RECOGNITION

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1) Premium Leader

Qualifying Criteria- Rs. 1 Lakh AFYP in a month

Reward and Recognition- Mention in leaders Report, Lunch

2) Ten-A-Monther

Qualifying Criteria- 10 applications in a month and Rs. 30,000

AFYP

Reward and Recognition- MNYL Crystal Glass, mention in Leaders Report,

Lunch.

3) Hi-Flier

Qualifying Criteria- 20 applications in a month

Reward and Recognition- MNYL Silver Medal, MNYL Crystal Glass,

Mention

in leaders Report, Lunch

4) Career Success Award

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 Qualifying Criteria- 15 paid cases & Rs. 40,000 FYC at the end of

month 3

Reward and Recognition- Recognition Award

5) Career Producer Award

Qualifying Criteria- 25 paid cases & Rs. 80,000 FYC at the end of

month 6

Reward and Recognition- Recognition Award

6) Career Foundation Club

Qualifying Criteria- 50 paid cases & Rs. 1.8 lakhs FYC in July- June
for

Recruits during this period.

Reward and Recognition- Attend CFC meeting to be held at Zone level

7) Paid Case, FYC, Persistency, rider, Referral and CEIP Leader

Qualifying Criteria- Top Agent in each category in each GO

9
 Reward and Recognition- Recognition Plaque

8) Agent of the Year

Qualifying Criteria- Highest Points in each GO

Reward and Recognition- Recognition Award

9) Centurion

Qualifying Criteria- 100 net paid cases in a year

Reward and Recognition- Centurion Trophy

10)Paul Colgan Trophy

Qualifying Criteria- Highest FYC with 100 or more paid cases and

95% Or more 13th month persistency

Reward and Recognition- Recognition Trophy

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11)Executive Council

Qualifying Criteria- July 2006 to June 2007: 4,30,000 Council Credits

January 07 to June 07: 1,60,000 Council Credits

40 paid cases in the Council Period.

Reward and Recognition- Trip to Malaysia to attend the Executive

Council Meeting.

12)MDRT (Million Dollar Round Table)

Qualifying Criteria- MDRT FYC Rs. 7,19,800 Premium Rs.14,39,600

Reward and Recognition- MDRT dues for all qualifiers. Top 35 by FYC
will

Bear domestic travel and visa costs. Next 15 will

bear Registration fees, domestic travel and visa

costs. Rest All will bear international airfare,

domestic travel and Visa costs.

13)CEO’S Council

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 Qualifying Criteria- July 2006 to June 2007: 8,00,000 Council
Credits

Jan 2007 to June 2007: 3,20,000 Council Credits

Reward and Recognition- Trip to Amsterdam to attend the CEO Council

meeting.

PRODUCTS OF MNYL

• Whole Life Plans

• Unit Linked Insurance Plans

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 • Endowment Plans

• Children Plan

• Money Back Plans

• Pension Plans

• Health & Accident Related Riders

Vision

To become the most admired life Insurance Company in India.

Mission

To become one of the top quartile life Insurance companies in India.

Be a national player.

Be the brand of the first Choice.

Be the Employer of the Choice.

Become principal of choice for agents.

Values

This vision to become India's most admired life insurance company will be
realized through our unique set of values, which are as follows:

13
Achievements
✔ First life insurance Company in India to have IS0 9001:2000 certifications.

✔ Top five most respected private life insurance in India according to Business
World survey.

✔ Continuous presence in Top 50 MDRT global list.

CSR

Max New York Life has been instrumental in changing the paradigm of life
insurance in India. It is the first life insurance company in India to introduce cause
related marketing.

Children are at the very heart of Max New York Life's strategy. SOS Children's
Villages of India is internationally recognized for its work in giving
underprivileged children a wholesome life. The mission of SOS is "to help
orphaned and abandoned children, by providing them with a family, a permanent
home, education and strong foundation for an independent life." It's mission ties in
with Max New York Life's philosophy of helping people secure the future of their
near and dear ones.

The company donates a part of the total money collected on all policies sold, to
SOS Children's Villages of India at the end of the year.

Leadership Team

14
Chapter-4: REVIEW OF LITERATURE

About the Insurance Sector in India

Insurance sector is an opportunity for India.

This business is growing at the rate of 18-22 per cent annually.

Presently it covers market of RS.450 billion.

Together with banking sector it contributes about 7% to GDP.

Gross premium collection is about 2% of GDP.

Still 80% of Indian population is without life insurance.

This is an indicator that growth potential for the insurance sector is

immense.

Insurance sector contribute a lot in economic development.

It provides long term fund for infrastructure development.

It is estimated that over the next ten years India would require investments

of the order of one trillion US dollar.

The Insurance sector, to some extent, can enable investments in

infrastructure development to sustain economic growth of the country.

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There are two legislations that govern the sector-

The Insurance Act- 1938 The IRDA Act- 1999.

Historical Perspective

In 1818 it was conceived as a means to provide for English Widows.

The Bombay Mutual Life Insurance Society started its business in 1870.

It was the first company to charge same premium for both Indian and non-

Indian lives.

The Oriental Assurance Company was established in 1880.

Till the end of nineteenth century insurance business was almost entirely in

the hands of overseas companies.

Insurance regulation formally began in India with the passing of the Life

16
 Insurance Companies Act of 1912 and the provident fund Act of 1912.

Several frauds during 20's and 30's sullied insurance business in India.

By 1938 there were 176 insurance companies.

The first comprehensive legislation was introduced with the Insurance Act

of 1938 that provided strict State Control over insurance business.

The insurance business grew at a faster pace after independence.

The Government of India in 1956, brought together over 240 private life

insurers and provident societies under one nationalized monopoly

corporation and Life Insurance Corporation (LIC) was born.

Nationalization was justified on the grounds that it would create much

needed funds for rapid industrialization.

Important milestones in the life insurance business in India:

17
Insurance Sector Reforms

In 1993, Malhotra Committee- headed by former Finance Secretary and RBI

Governor R.N. Malhotra- was formed to evaluate the Indian insurance industry and

recommend its future direction. The Malhotra committee was aimed at creating a

more efficient and competitive financial system suitable for the requirements of the

economy keeping in mind the structural changes currently underway and

recognising that insurance is an important part of the overall financial system

where it was necessary to address the need for similar reforms. In 1994, the

committee submitted the report and some of the key recommendations included:

i) Structure: Government stake in the insurance Companies to be brought down to

50%. Government should take over the holdings of GIC and its subsidiaries so that

these subsidiaries can act as independent corporations. All the insurance companies

should be given greater freedom to operate.

ii) Competition: Private Companies with a minimum paid up capital of Rs.1bn

should be allowed to enter the sector. No Company should deal in both Life and

General Insurance through a single entity. Foreign companies may be allowed to

enter the industry in collaboration with the domestic companies. Postal Life

Insurance should be allowed to operate in the rural market. Only one State Level

Life Insurance Company should be allowed to operate in each state.

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iii) Regulatory Body: The Insurance Act should be changed. An Insurance

Regulatory body should be set up. Controller of Insurance- a part of the Finance

Ministry- should be made independent

iv) Investments: Mandatory Investments of LIC Life Fund in government

securities to be reduced from 75% to 50%. GIC and its subsidiaries are not to hold

more than 5% in any company (there current holdings to be brought down to this

level over a period of time)

v) Customer Service: LIC should pay interest on delays in payments beyond 30

days. Insurance companies must be encouraged to set up unit linked pension plans.

Computerization of operations and updating of technology to be carried out in the

insurance industry.

The committee felt the need to provide greater autonomy to insurance companies

in order to improve their performance and enable them to act as independent

companies with economic motives. For this purpose, it had proposed setting up an

independent regulatory body- The Insurance Regulatory and Development

Authority.

Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in

Parliament in December 1999. The IRDA since its incorporation as a statutory

body in April 2000 has fastidiously stuck to its schedule of framing regulations and

registering the private sector insurance companies. Since being set up as an

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independent statutory body the IRDA has put in a framework of globally

compatible regulations. The other decision taken simultaneously to provide the

supporting systems to the insurance sector and in particular the life insurance

companies was the launch of the IRDA online service for issue and renewal of

licenses to agents. The approval of institutions for imparting training to agents has

also ensured that the insurance companies would have a trained workforce of

insurance agents in place to sell their products.

Present Scenario

The Government of India liberalised the insurance sector in March 2000 with the

passage of the Insurance Regulatory and Development Authority (IRDA) Bill,

lifting all entry restrictions for private players and allowing foreign players to enter

the market with some limits on direct foreign ownership. Under the current

guidelines, there is a 26 percent equity cap for foreign partners in an insurance

company. There is a proposal to increase this limit to 49 percent.

The opening up of the sector is likely to lead to greater spread and deepening of

insurance in India and this may also include restructuring and revitalizing of the

public sector companies. In the private sector 15 life insurance companies have

been registered. A host of private Insurance companies operating in life segments

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have started selling their insurance policies since 2001. Table shows the current

market players in the life Insurance Industry (Source IRDA).

Sr. No. Name of the Company

1 Bajaj Allianz Life Insurance Co. Limited
2 Birla Sun Life Insurance Co. Ltd
3 HDFC Standard Life Insurance Co. Ltd
4 ICICI Prudential Life Insurance Co. Ltd
5 ING Vysya Life Insurance Co. Ltd.
6 Life Insurance Corporation of India
7 Max New York Life Insurance Co. Ltd
8 Met Life India Insurance Co. Pvt. Ltd.
9 Kotak Mahindra Old Mutual Life Insurance Ltd.
10 SBI Life Insurance Co. Ltd.
11 Tata AIG Life Insurance Co. Ltd.
12 Reliance Life Insurance Co. Ltd.
13 Aviva Life Insurance Co. India Pvt. Ltd.
14 Sahara India Life Insurance Co. Ltd.
15 Shriram Life Insurance Co. Ltd.
16 Bharti AXA Life Insurance Co. Ltd.
Life Insurance Market Growth

The Life Insurance market in India is an underdeveloped market that was only

tapped by the state owned LIC till the entry of private insurers. The penetration of

life insurance products was 22 percent of the total 400 million of the insurable

population. Most customers were under- insured with no flexibility or transparency

in the products. With the entry of the private insurers the rules of the game have

changed.
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Life insurance business in terms of first year premium has shown a growth of more

than 95% over the previous year and non life, or general insurance, is not far

behind either, growing at 22% during 2006-07.The 15 private insurers in the life

insurance market have already grabbed nearly 24 percent of the market in terms of

premium income. The new business premium of the 15 private players has tripled

over last year. Meanwhile, state owned LIC's new premium business has fallen.

Figure shows comparison between premiums being collected by private and public

limited players in year 2006 and 2007.

Innovative products, smart marketing and aggressive distribution. That's the triple

whammy combination that has enabled fledgling private insurance companies to

sign up Indian customers faster than anyone ever expected. Indians, who have

always seen life insurance as a tax saving device, are now suddenly turning to the

private sector and snapping up the new innovative products on offer.

B.1 ELIGIBILTY MODEL

From this eligibility model company judge prospective person. The company

follows unique eligibility criteria for AA selection by which company is able is to

always justify its mission. The basic objective of having an eligibility model for

22
recruitment is to have good retention and greater effectiveness in the delivery of

service.

Four criteria’s for AA selection

1. 25 plus years of age:

This age shows attainment of maturity and responsibility. People are more

consistent in this age.

2. Married:

Married people have more eager to earn money. Family pressures increase

responsibility and secondly customers are convinced more by the stability of a

married AA.

3. Staying in the same city for more than 5 years:

Person who stays more than 5 year has huge natural market which helps him

to get more business in short period.

4. Graduate:

Graduate people have basic skills like communication skills, numerical ability, I.P

relation, convincing abilities etc. so it is easy to teach them further.

Other criteria for AA selection:

23
1. Financial stability:

MNYL is focuses on classes and not on masses thus they select strong agent

advisors.

2. To have a rich and active social circle:

it helps to get higher case rate and case size. Also the chances of policy lapsing can

be less and renewals can be more.

3. Greed for money:

Firm selects advisors who understand the language of commission. Because people

who want fix amount as their earnings are not suitable for this business.

4. Independent:

MNYL select people who want to be entrepreneur. Housewives or brokers who

want flexible hours for work are prospective person for this business.

5. Persuasion:

He should be persuasive in nature because the AA needs to follow up on regular

basis with prospective and new clients without being a nuisance value.

6. Excellent interpersonal skills:

Because developing and maintaining good relations can get policies. Secondly

since most of the insurance companies provide a plethora of similar products, sales
24
depend on the convincing ability of the AA and the rapport the AA is bale to build.

Also results in C of I’s.

7. Excellent communication skills:

Since AA needs to communicate about the organization, products, career as AA,

about why insurance is important, which product will suit his requirement etc.

Desirable Candidates

1) Housewives.
2) Employees having VRS.
3) CA’s.
4) Mutual Fund Brokers.
5) NSC brokers.
6) Tax Consultants.
7) Businessman.
8) Doctors.
9) Travel agents.
10) Lawyers
11) Diamond merchants.
12) Social workers.

B.2 DEVELOPMENT STRATEGIES

Management team has developed certain strategies in order to expand channel

distribution network. These model are followed across the country uniformly and

25
top management feels that these rules are the building block of MNYL’s success in

India as well as across the world. There are 2 basic principles that are required in

order to execute these strategies such as

1) Prospecting: Identify the right person who fits in the eligibility model.

2) Selection: Select them for further plan of actions.

RULE OF 31

Rule of 31 is associated with the daily activities which is follow to recruit quality

advisors. It says that everyday collect at least 3 names of the prospective AA and

do 1 screening every day.

Ways of Name Gathering

26
There are several ways for gathering names in order to follow rule of 31.

Natural Market:

A natural market consist of people to whom you know well from your

family, friend circle, relative can be a good prospect. The most admired way

for recruitment in MNYL is through natural market. Natural market persons

are easily approachable and most of the successful recruitment in MNYL is

from natural market.

Personal Observation:

It means identify the right person through observation. For e.g. a person

residing in your locality and very famous in taking initiative in social

activities can be a good prospect.

Nominator Call:

A nominator is a person who is very much influential in the market as well

as in societies. Name gathering and identification is easy in this case, but

these people are highly unapproachable. These people can be very

productive in giving references of the prospect. They are not prospect by

default.

Centre of Influence (CoI) Call:

A centre of influence person is people who are influential and you know

them personally. They are approached for giving references of the client.
27
Prospect Call:

Prospects itself are approached. They can be anyone from natural market,

Nominator’s reference, CoI‘s reference or by other means.

Activities:

Doing activities such as brand awareness in Public places such as mall,

multiplexes can be a good strategy for name gathering. We can have a

questionnaire format to fill by applicant for the lucky draw.

• Phoenix mill.

• Nakshatra mall.

• Hirra panna.

• Siddhivinayak temple.

• Nirmal life style.

• BSE.

28
 COLD/ WARM/ HOT

This is another method that helps the management trainee and the sales managers

keep a track of the names he has from his natural market as well as through name

gathering,

29
 WARM
COLD
HOT

➢ Cold

Cold is like what u are having. In this column we include all the names

which we have as a prospect. It includes C o I names, references,

30
 nominators, PO names and so on. It is a list of all the names that we wish to

contact in future.

➢ Warm

Once the names mentioned in the cold column are contacted and if any

appointments scheduled at the office wherein initial screening is then

conducted the candidate is then entered in the warm list.

➢ Hot

After being entered in the warm list if any candidate has attended any of the

seminars held at Max New York Life after the initial screening done and if

the candidate has been given P200 (project 200) then the prospective agent

is then said to be entered in the hot list.

COLD. WARM. HOT.

80 30 8

The growing popularity of the private insurers shows in other ways. They are

coining money in new niches that they have introduced. The state owned

companies still dominate segments like endowments and money back policies. But

in the annuity or pension products business, the private insurers have already

31
wrested over 33 percent of the market. And in the popular unit-linked insurance

schemes they have a virtual monopoly, with over 90 percent of the customers.

The private insurers also seem to be scoring big in other ways- they are persuading

people to take out bigger policies. For instance, the average size of a life insurance

policy before privatisation was around Rs 50,000. That has risen to about Rs

80,000. But a rejuvenated LIC is also trying to fight back to persuade new

customers.

32
Chapter-5: RESEARCH METHODOLOGY

For achieving the objectives of study, survey was conducted. For survey, personal

interviews of various managerial level employees were undertaken. Personal

interviews were selected as the mode of survey to make the study more meaningful

& so that maximum information could be collected. For conducting the personal

interviews of the workers, a questionnaire was made. The questionnaire was

structured with close ended questions.

B.1 ELIGIBILTY MODEL

From this eligibility model company judge prospective person. The company

follows unique eligibility criteria for AA selection by which company is able is to

always justify its mission. The basic objective of having an eligibility model for

recruitment is to have good retention and greater effectiveness in the delivery of

service.

Four criteria’s for AA selection

1. plus years of age:

This age shows attainment of maturity and responsibility. People are more

consistent in this age.

33
2. Married:

Married people have more eager to earn money. Family pressures increase

responsibility and secondly customers are convinced more by the stability of a

married AA.

3. Staying in the same city for more than 5 years:

Person who stays more than 5 year has huge natural market which helps him

to get more business in short period.

4. Graduate:

Graduate people have basic skills like communication skills, numerical ability, I.P

relation, convincing abilities etc. so it is easy to teach them further.

Sample Size:
I have covered 100 employees.
Types of Data:
I have used primary as well as secondary data.
Some data is been taken from internet,
And some is gathered through questionnaire

Chapter-6: DATA ANALYSIS

1. Where do you invest your Money?

a. Stock Markets
b. Mutual Funds

34
 c. Life Insurance
d. Property

2. Name any 3 Insurance Companies you are aware of?

3. In a year how much money do you invest? (approx)

_________________________________________

4. Are you aware of any Insurance products?

a. ____________________________________
b. ____________________________________
c. ____________________________________

5. Which among the following products do you own?

35
 a. Whole Life/ Endowment

b. Money Back

c. Unit Linked Insurance Plan

d. Term Plan

e. Education/ Child Plan

6. What is the reason of having the above cover?

a. Security c.Tax Benefits

b. Investment

7. Are you aware of the earning potential in insurance sector?

a. Rs.20,000 to 30,000
b. Rs.30,000 to 50,000
c. Rs.50,000 to 75,000
d. Rs.75000 to 1,00,000

8. Would you like to add a business to your current profile?

a. Yes b.No

9. Which is the quality according to you that would be required for

Being successful in business?

36
 a. Communication
b. Networking c.Both

Chapter-7: FINDINGS

Max New York Life as an insurance firm has a very strong presence in India and is
rapidly expanding its operations in India. After working on this project I feel that
following are some of the ways in which the company can improve the current
market base and selection procedure for AAs, the key revenue generating resource
for the company:
• Increase awareness among the general public

In survey I come to know only 5 % people are heard about this

company.

Only 10 % people known about this company. It shows less brand

image of company.

25% people experienced this company by taking policy.

But 60 % people are unaware about this company. It is because of

lack of advertisement.

• Highlight the core strengths of the company like oldest firm in insurance
sector, highest paid up capital, etc.

Very less people know about highlights of the company.

Firm is not well known though it is oldest firm.

37
 No one knows positive points of the company, like registered under
companies act, six sigma and so on.

• Have a re-look at the existing product range and design products which can
attract masses rather than just serving only classes.

Visit hrmba.blogspot.com for more project

reports, notes, presentations etc.

Chapter-8: LIMITATIONS

38
 Visit hrmba.blogspot.com for more project
reports, notes, presentations etc.

QUESTIONNAIRE

Hello. This is MRUNAL D. SAMANT from Max New York Life, working here as
a management trainee. I would appreciate it if you could lend me just 2 minutes of
your time for my project on Insurance Industry. I would like to assess if you are
interested in taking a business opportunity available in the insurance sector which
requires no investment of yours.
1. Where do you invest your Money?

39
 a. Stock Markets
b. Mutual Funds
c. Life Insurance
d. Property

2. Name any 3 Insurance Companies you are aware of?

a. _____________________________________

b. _____________________________________

c. _____________________________________

3. In a year how much money do you invest? (approx)

_________________________________________

4.Are you aware of any Insurance products?

a. ____________________________________
b. ____________________________________
c. ____________________________________

40
5.Which among the following products do you own?

d. Whole Life/ Endowment

e. Money Back
f. Unit Linked Insurance Plan
g. Term Plan
h. Education/ Child Plan

6.What is the reason of having the above cover?

i. Security
j. Investment
k. Tax Benefits

7.Are you aware of the earning potential in insurance sector?

l. Rs.20,000 to 30,000
m. Rs.30,000 to 50,000
n. Rs.50,000 to 75,000
o. Rs.75000 to 1,00,000

41
 8. Would you like to add a business to your current profile?
p. Yes
q. No

9. Which is the quality according to you that would be required for

Being successful in business?

a. Communication
b. Networking
c. Both

NAME: ______________________________________

ADDRESS: ______________________________________

______________________________________

CONTACT NO.: ______________________________________

ANNUAL SALARY: ______________________________________

42
Thank You for your valuable time and for your information the agency business in
insurance sector is successfully pursued by businessman, housewife, freelancers,
IT Consultants/CA, professionals like Doctors, Architects, Trader Segments, Auto,
Real Estate, etc.

Visit hrmba.blogspot.com for more project

reports, notes, presentations etc.

BIBILOGRAPHY

Visit hrmba.blogspot.com for more project

reports, notes, presentations etc.

IC 33 book of Max New York Life.

43
www.maxnewyorklife.com

www.google.com

44