By: Kashish Srivastava 1528

The JK Group
JK Tyres JKRMIBL JK Papers

JK Dairy & Foods

JK Organization

JK Seeds

JK Fenner

JK Laxmi Cement

JK Sugar

Competitors
IRDA has till now provided registration to 12 Private Life Insurance companies and 9 General Insurance companies.
LIFE INSURERS Public Sector Life Insurance Corporation of India Private Sector Allianz Bajaj Life Insurance Company Limited Birla Sun-Life Insurance Company Limited HDFC Standard Life Insurance Co. Limited ICICI Prudential Life Insurance Co. Limited GENERAL INSURERS Public Sector National Insurance Company Limited New India Assurance Company Limited Oriental Insurance Company Limited United India Insurance Company Limited Private Sector Bajaj Allianz General Insurance Co. Limited

ING Vysya Life Insurance Company Limited

Max New York Life Insurance Co. Limited MetLife Insurance Company Limited Om Kotak Mahindra Life Insurance Co. Ltd.

ICICI Lombard General Insurance Co. Ltd.

IFFCO-Tokio General Insurance Co. Ltd. Reliance General Insurance Co. Limited Royal Sundaram Alliance Insurance Co. Ltd.

SBI Life Insurance Company Limited

TATA AIG Life Insurance Company Limited AMP Sanmar Assurance Company Limited

TATA AIG General Insurance Co. Limited

Cholamandalam General Insurance Co. Ltd. Export Credit Guarantee Corporation

Products & Services

General Insurance Life Insurance

Claim Management

Risk Management

Other Services
JK Risk is also doing CROP Insurance for the past four years successfully. And now from the present year, JK Risk has got the opportunity to promote the Govt. project i.e. Swavalamban with the help of Saptrishi Consultancy Service Ltd. Saptrishi Consultancy Service Ltd. creates Distribution network for JK Risk Managers.

About Swavalamban
Govt. of India has introduced a Pension solution for the citizen of India which is under NPS. It is designed to provide regular old age income from age of 60 till death. It is based on Defined Contribution system. Services will be offered to individual subscriber through Aggregators.

Benefits under scheme

Under the scheme, govt. will contribute Rs. 1000 per year to each NPS account. The benefit will be available only to person who join the NPS with a minimum contribution of Rs.1,000 & maximum Rs.12,000 per annum.

Statement of problem
In the Implication of PFRDA (Pension Fund Regulatory Development Authority) we have to give presentations to those eager aggregators regarding the pension schemes so that they can get people enrolled in that pension policy availed by the govt. of India.

Objectives
To spread the awareness of the special scheme available for the citizen of India by the govt. of India regarding the old age income. Safe & reasonable market based returns over the long term. Extending old age security coverage to all citizen.

On the job training

My training was started on 7th of May and ended on 21st of June. In Six weeks training in JK Risk Managers, 1. First three weeks, we had to go to different places to create Sub-Aggregators; the subaggregators are subscriber interface. 2. And in the last three weeks, we had to sell the policies by our own.

1st Week
In the first week, I covered the local areas of Kanpur City. My mentor told me that we need to give full detailing of the plan to the willing aggregator as he will be the front interface to the subscribers.

2nd Week
In second week, I covered the nearby areas of Lucknow-Unnao. After creating Sub-aggregators in Kanpur City, my mentor told me to solve the queries regarding the scheme and to tell them how they can gain more benefits.

3rd Week
After successfully creating aggregators in Kanpur-Lucknow areas, I went to cover the Eastern area of U.P. The major cities and villages I covered were Allahabad, Jaunpur & Sujanganj area. The main difficulty I found there was that LIC has already covered those area as JK Risk has recently got this project and LIC is working there for last 3 years.

4th Week
After creating the Sub-aggregators for the company in my past 3 weeks of training, we were assigned to sell those policies by our own. In this task, we learnt how actually people arent willing to invest their money even if it is for the future.

5th Week
Interacting with lower segment people in 4th week and not getting proper responses, we moved to middle class segment. The most important problem was Ignorance. Some were responding in proper manner, and some were totally ignorant. Moving to middle class segment shown much better result than previous.

6th Week
This was almost the end of my training, and in this week we summarized all the SubAggregators created by us and the policy sold by us. We collected the KYC documents from the policy holders and the signed Stamp Papers with the agreement from the sub-Aggregators.

Learning's
During the project with JK Risk Managers and Insurance Brokers Ltd. no. of things learnt by me: Various aspects of the Insurance products. Most importantly I got the practical experience of consumer behavior. I learn how to motivate the customer towards the benefit gained by them in our pension schemes.

Recommendation
There is not any regional and local office in different cities; this is the main drawback of the company. Because of no local and regional branches, reaching would be more difficult in order to compete with the rivals in coming future.

Thank You For Your Kind Attention!!