SUMMER TRAINING PROJECT REPORT

ON

“RECURITMENT AND DEVELOPMENT OF

FINANCIAL ADVISORS”.

MetLife INSURANCE COMPANY

Submitted In Partial Fulfillment Of

Requirement For The

Award of Degree

Bachelor of Business Administration

(BBA)

Submitted By Under the Guidance of

AASHA SHARMA Ms.AARUSHI MALHOTRA

Bharati Vidyapeeth UniversitySchool of Distance Education

Academic Study Center: BVIMR, New Delhi

Batch: 2008-2011

STUDENT UNDERTAKING

I AASHA SHARMA have completed the Industrial Report on “METLIFE” under

the guidance of Ms. AARUSHI MALHOTRA in the partial fulfillment of the

requirement for the award of BBA of BVU, SDE, Academic Study Center

BVIMR, New Delhi.   This is an original piece of work & I have neither copied

and nor submitted it earlier elsewhere.

AASHA SHARMA

CERTIFICATE

CERTIFICATE

ACKNOWLEDGMENT

I wish to express my profound gratitude to my faculty Ms. AARUSHI

MALHOTRA, who gave a hearing and understanding the various facts.

 

AASHA SHARMA

 

TABLE OF CONENT

Chapter – 1 INTRODUCTION OF METLIFE

1.1 Industry Profile

1.2 The principle kinds of insurance are as follows

1.3 Insurance sector reforms

1.4 Needs for Life Insurance

1.5 Global Life Insurance Trends

1.6 Company Profile

1.7 Product

1.8 Marketing Tools

1.9 Corporate Objective

1.10 Future Plans

1.11 Swot Analysis

Chapter-2 RESEARCH METHODOLOGY

2.1 Research Methodology

2.2 Objective of the study

2.3 Source of Collection Data

2.4 limitations of The Study

Chapter-3 Data Analysis

Chapter-4 Finding & Recommendations

Chapter-5 Conclusion

. BIBLIOGRAPHY

. APPENDIX

CHAPTER - 1

INDUSTRY PROFILE

1.1 History of insurance:

Insurance began as a way of reducing the risk of traders, as

early as 5000 BC and 4500 BC in. Life insurance dates only to ancient

Rome; "burial clubs" covered the cost of members' funeral expenses

and helped survivors monetarily. Modern life insurance started in late

17th century, originally as insurance for traders: merchants, ship

owners and underwriters met to discuss deals at Lloyd's Coffee House,

predecessor to the famous.

The first insurance company was formed in 1732, but it provided only

fire insurance. The sale of life insurance in the U.S. began in the late

1760s. The Synods in and created the Corporation for Relief of Poor

and Distressed Widows and Children of Presbyterian Ministers in

1759; Episcopalian priests organized a similar fund in 1769. Between

1787 and 1837 more than two dozen life insurance companies were

started, but fewer than half a dozen survived. Prior to, many insurance

companies in the United States for their owners, in response to bills

passed in 2001 and in 2003, the companies have been required to

search their records for such policies for example reported that

Nautilus sold 485slaveholder life insurance policies during a two-year

period in the 1840s; they added that their trustees voted to end the sale

of such policies 15 years before the General information:

Human have always sought securities. This quest for security

was an important motivating force in the earliest formation of families,

clans, tribes, and other groups. Indeed, groups have been the primary

source both emotional and physical security since the beginning of

humankind. They ensured a less volatile source of life necessities then

that which ensures isolated human & families could provide and help

their less fortunate members in the time of crises.

Human today continue their quest to achieve security and

reduce risk uncertainty. We still rely on group for financial stability.

The group may be our employer, the government, or an insurance

company, but concept is the same. In some ways however, we today

are more vulnerable that our ancestors. The physical and economical

securities formerly provided by the tribes or extended family

diminished with industrialization. Our income dependent, wealth

acquiring lifestyle renders and our families more vulnerable to

environment and societal changes over which we have no control.

Humans are exposed to many serious perils, such as property

loss from fire or windstorm, and personal losses from incapacity and

death. All through individual cannot predict or completely prevent

such occurrences, they can provide for their financial effects.

Encyclopedia of finance and banking defines insurance as the

elimination of or protection against risk amenable to actual calculation,

voidance or reduction of losses occurring through misfortunes such as

death, fire, accident, tornado, shipwreck, etc. insurance is a contact

between an insurer and insured where by the insurer identifies the

insured against loss due to specific risks such as from fire, storm and

death. Insurance contracts require an agreement, considerations,

capacity, legality, compliance with the status of frauds and delivery.

Insurance is an integral part of most enterprises, risk management

program. Insurance does not prevent losses, it substitutes a small

certain loss (premium) for a possible or contingent large loss. The

insured is indemnified for the amount of loss, for the insured amount,

or for the face of his policy, in return for payment of periodic

premiums.

1.2 The principle kinds of insurance are as follows:

i. Life-term, ordinary, endowment, limited payment, group

industrial and annuities, with a variety of combinations of the

four basic forms.

ii. Fire & marine-fire, ocean marine, motor vehicle, inland

navigation, and transportation, tornado and windstorm,

sprinkler leakage, earthquake, riot and civil commotion,

explosion rain, hale, flood, aircraft, etc.

iii. Causality and surety -automobile liability, liability other than

automobile workers, compensation, fidelity and surety,

burglary and theft, automobile property damage, accident in 2

for a participation in dividends by all policy holders. In this way the

cost of insurance to the insured is reduced.

iv. Four classes of insurance business:

v. Life insurance

vi. Fire insurance

vii. Marine insurance

viii. Miscellaneous insurance.

1.2.1 Brief history of insurance sector in India:

The insurance sector in India has come full circle from being

open competitive market to nationalization and back to liberalized

market again. Tracing the developments in India, insurance sector

reveals the 360-degree turn witnessed over a period of almost two

centuries.

1818 – Oriental insurance company was established.

1870– Bombay Mutual Life Assurance Society, the first Indian life

insurance company started its business.

1912 – Indian life insurance companies act as the first statute to

regulate the life insurance business

1928 – The Indian insurance companies act enacted to enable the

government to collect statistical information about both life and non

life insurance business.

1938 – Earlier legislation consol dated and amended to by the

insurance act with the objective of protecting the interest of insuring

public.

1956 – 245 Indian and foreign insurers and provident societies taken

over by the central government were nationalized.

1.3 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 recommended its future direct on. The

Malhotra committee was set up with the objective of complimenting

the reforms initiated in the financial sector. Recommendation included

in the report submitted by the committee

Structure:

a. Government stake in the insurance companies to brought down

to 50%

b. Government should take over the wordings of GIC and its

subsidiaries, so that these subsidiaries can act as independent

companies.

c. All the insurance companies should be given greater freedom to

operate.

d. Competition:

e. Private companies with minimum paid up capital of Rs. 1

billion should be allowed to enter the industry; no company

should deal in both life and general insurance through single

entity.

f. Foreign companies may be allowed to enter the industry

collaboration with domestic companies.

g. Postal life insurance should be allowed to operate in rural areas

h. Only one state level life insurance company should be allowed

to operate in each state.

i. Regulatory body:

j. The insurance act should be changed

k. An insurance regulatory body should be set up.

l. Life insurers transact life insurance business; general insurers

transact the rest. No companies are permitted as per law.

m. Legislation (as on 1-4-2000):

n. Insurance is a federal subject in India; the primary legislation

that deals with insurance business in India is;

o. Insurance Act, 1938 and Insurance Regulatory & Development

Authority Act, 1999

p. Fire and miscellaneous insurance business are predominant

motor and vehicle insurance is compulsory.

q. Tariff Advisory Committee (TAC) lays down tariff rates for

some of the general insurance products.

Customer Protection:

Insurance industry has ombudsmen in 12 cities. Each

ombudsman is empowered to redress customer grievances in respect of

insurance contracts on personal lines where the insurance amount is

less than 20 Lakhs, in accordance with the ombudsmen scheme.

Address can be obtained from the officers of LIC and other insurers.

1.4 NEED FOR LIFE INSURANCE

Maslow’s need hierarchy theory:

Making the person feel “SAFE” other expression of the need

for safety occur when individuals are confronted with real emergencies

e.g. accidents, war, crime, natural calamities, etc. once physical needs

are met, another set to motives, safety or security needs, become

motivates. The primary motivating force here is to ensure reasonable

degree of continuity, order, structure and predictability in once

environment. Maslow suggested that the safety needs are most readily

observed in infant and young children because of their relative’s

helplessness and dependence on adults.

Security needs in original context co-related to such factors as

job security, salary increment, safe working conditions, unionization

and lobbying for prospective registration.

Risk and uncertainty are part of life great adventures accident,

illness, thefts, natural disaster. They are built into the working of

universe, waiting to happen. Insurance that is main answer to the

vagaries of life. If you cannot beat the manmade and natural

calamities, wealth, at least be prepared for them and aftermath.

Insurance is contract between two parties one is insurer

(insurance company) and insured (the person or entity seeking the

coverage). Where the insurer agrees to pay the insured for the financial

loses arising out of any unforeseen events in return for a regular

payment of the premium.

These unforeseen events are determined as risk and that is why

insurance is called is the risk cover. Hence the insurance is the

essential means to financially compensate for loses that life throws at

people- corporate and otherwise.

India at glance:

a. Economy: India is 5th largest economy in the world in terms of

purchase.

b. GDP Growth rate: over 6% per year on an average for the last

decade.

c. Savings rate: around 26% of GDP

d. Estimated middle class population: 300 million

e. Insured population: 70 million

f. India has an enormous middle class that can afford to by life,

health and disability and pens on plan products. The level of

penetration of life insurance in India compared to other

developed nations can be judged by a comparison of per capita

life premium.

1.5 GLOBAL LIFE INSURANCE TRENDS

Country life premium per capita U.S. $ in 1994

JAPAN 3817

UK 1280

USA 964

INDIA 800

Life insurance market in India

INDIAN COMPANY FOREIGN COMPANY

HDFC Standard life

Tata Group AIG

Bajaj Allianz

Max India New York

IDBI Principal

SBI Alliance Capital

Bajaj Allianz Chubb

Cholamandalam Axa

ICICI Prudential

Vysa Bank ING

Spic Met Life

Sanmar Group GIO of Australia

Life insurance statistics:

Table showing premium collection by various insurance companies

CO

MP

ANY

200

6-

07(

RS.

IN

200

7-

08(

RS.

IN

%

GR

OW

TH

MI

N.)

MI

N.)

Kota

k

Mahi

ndra

352

.1

127

1.2

260

.98

Bajaj

Allia

nz

633

.89

179

7.0

5

183

.50

ING

Vays

a

179

.59

726

.27

311

.16

AM

P

San

mar

63.

15

278

.82

341

.51

SBI

Life

718

.81

195

9.0

1

172

.53

Tata

AIG

522

.08

180

1.5

5

515

.07

ICIC

I

Prud

entia

l

364

1.0

7

750

9.1

0

106

.23

Birla

Sun

Life

129

5.6

8

449

8.6

2

247

.20

Aviv

a

134

.66

771

.38

427

.84

Max 673 131 95.

New

York

.14 4.8

8

34

Met

Life

76.

99

233

.82

203

.70

HDF

C

Stan

dard

129

3.1

4

209

3.3

3

61.

88

Priva

te

total

958

1

242

54.

64

153

.15

LIC 159

767

.62

162

746

.87

1.9

3

TOT

AL

169

348

.92

187

101

.5

10.

48

Table showing market share of life insurance companies

COMPANY 2006-07

(IN %)

2007-08 (IN

%)

HDFC

Standard

0.76 1.12

Bajaj

Allianz

0.37 0.96

ING Vaysa 0.1 0.39

AMP

Sanmar

0.04 0.15

SBI Life 0.42 1.05

Tata AIG 0.31 0.96

ICICI

Prudential

2.15 4.01

Birla Sun 0.77 2.4

Life

Aviva 0.08 0.41

Max New

York

0.4 0.7

Met Life 0.05 0.12

LIC 94.34 87.05

TOTAL 100 100

Registration of Indian insurance companies

The registration of Indian insurance companies involves the following

contents

a. Requisition for the registration

b. Application for registration

c. Renewal of certificates of registration

d. Action in case default

e. Certificates to existing insurer

1.6 COMPANY PROFILE OF MET LIFE INSURANCE

COMPANY LTD.

MetLife (India)

MetLife India Insurance Company Limited (MetLife) is an affiliate of

MetLife, Inc. and was incorporated as a joint venture between MetLife

International Holdings, Inc., The Jammu and Kashmir Bank, M.

Pallonji and Co. Private Limited and other private investors. MetLife is

one of the fastest growing life insurance companies in the country. It

serves its customers by offering a range of innovative products to

individuals and group customers at more than 600 locations through its

bank partners and company-owned offices. MetLife has more than

50,000 Financial Advisors, who help customers achieve peace of mind

across the length and breadth of the country.

MetLife, Inc., through its affiliates, reaches more than 70 million customers in the

Americas, Asia Pacific and Europe. Affiliated companies, outside of India, include

the number one life insurer in the United States (based on life insurance inforce), with

over 140 years of experience and relationships with more than 90 of the top one

hundred FORTUNE 500® companies.

The MetLife companies offer life insurance, annuities, automobile and home

insurance, retail banking and other financial services to individuals, as well as group

insurance, reinsurance and retirement and savings products and services to

corporations and other institutions Celebrating 140 years, MetLife, Inc. is a leading

provider of insurance and financial services with operations throughout the United

States and the Latin America, Europe, and Asia Pacific regions. Through its domestic

and international subsidiaries and affiliates, MetLife, Inc. reaches more than 70

million customers around the world and MetLife is the largest life insurer in the

United States (based on life insurance in-force).

1.6.1 INSURANCE

Celebrating 140 years, MetLife, Inc. is a leading provider of insurance

and financial services with operations throughout the United States and

the Latin America, Europe, and Asia Pacific regions.  Through its

domestic and international subsidiaries and affiliates, MetLife, Inc.

reaches more than 70 million customers around the world and MetLife

FACT SHEET

 Founded 2001

 Started Operations FY 2001-02

 Headquarters Bangalore, India

 World Wide Web Address www.metlife.co.in

 Managing Director Rajesh Relan

 Employees 7688

 Financial Advisors 56,072

 Banc assurance Tie-Ups 5 (J&K

BankBank/Dhanalakshmi

Bank/Karnataka

Bank/Barclays)

 Number Of Products Over 20 products

 Presence Through

MetLife Offices

192 offices in 131 cities

 Presence Through Bank

Partners

1910 offices in 686 cities

is the largest life insurer in the United States (based on life insurance

in-force).

The MetLife companies offer life insurance, annuities, auto and home

insurance, retail banking and other financial services to individuals, as

well as group insurance and retirement & savings products and

services to corporations and other institutions. 

I. 139 years Legacy of helping build Financial Freedom for all

Fortune 500 Company

II. Indian Operation started on April 11th 2001

III. MetLife India is a result of Joint Venture between MetLife

International ,J&K Bank and other investors

IV. Among the Top Five private player in Insurance Sector in India

V. Strong force of 25,000 Financial advisors

VI. MetLife in India is headquartered in Bangalore

VII. Present in 72 Cities through 90 Offices.

VIII. In Partnership with many Banks i.e. Barclays, UTI, J&K Bank

etc

IX. MetLife means more than Life Insurance. It’s about the

celebration of life, beginning and the financial freedom that

leads to life significance

1.7 PRODUCT

Multi-Purpose Plans

For ever changing needs in life ULIP

-Met Smart Plus

-Met Smart Premier

Protection Plans

Ensure that your obligations are meant in the event of death

and Disability.

-Met Suraksha

-Met Mortgage

Accumulation Plans Assist in funding child’s education, Marriages etc

:Whole Life :Endowment

-Met 100

Retirement Plans

Provide additional income to supplement savings.

-Met Pension

-Met Advantage Plus

1.7.1 MET LIFE KEYS STRENGHS

Financial Expertise

As a joint venture of leading financial services groups, metlife has the financial

expertise required to manage young-term investments safely and efficiently.

Range of Solutions

We have a range of individual and group solutions, which can be easily customised to

specific needs. Our group solutions have been designed to offer you complete

flexibility combined with a low charging structure.

Track Record so far

Our gross premium income, for the year ending March 31, 2008 stood at Rs. 4,859

crores and new business premium income .The company has covered over 9, 59,000

lives year ending March 31, 2008.

1.8 MARKETING TOOLS

1.8.1 Tele Marketing - Direct Marketing in which sales person uses

telephone to solicit prospective customers to buy product and services.

1.8.2 Database Marketing - Analyze customer database and use the

results to form future projection that help to improve efficiency and

develop new products

1.8.3 Ban assurance -Selling of insurance through a bank’s established

distribution channels. Penetrating rural market using Ban assurance

Medium only.

1.9 CORPORATE OBJECTIVE

Our Vision

'The most successful and admired life insurance company, which

means that we are the most trusted company, the easiest to deal with,

offer the best value for money, and set the standards in the industry'.

'The most obvious choice for all'.

OUR MISSION Our Roadmap starts with our mission, which is

enduring. It declares our purposes a company and serves as the

standard against which we weigh our actions and decisions by 2010,

provide 5 million customers in India world-class solutions for financial

security and in the process add significant value to our shareholders,

associates and society.

Our Values

Values that we observe while we work:

.Integrity

.Innovation

.Teamwork

.Joy and Simplicity

Accolades and Recognition

.Rated by 'Business world' as 'India's Most Respected Private Life

Insurance Company' in 2004.

.Rated as the "Best New Insurer - 2003" by Outlook Money

magazine,India number 1 personal finance magazine

1.10 SWOT ANALYSIS

Strength

With over 139 years of experience MetLife have approximately US $ 3.3 trillion of

life insurance in force.

(a) Brands image, Business Experience and Innovate products.

(b) Has tie up bands like AXIS ,J&K BARCLAYS, KANATKA BANK.

(c) Service quality which is the crux of their mission.

(d) Paid-up capital of RS 1500 cr as on 2008 which shows company

dependability.

(e) Very less charge on ULIP plans as compare to other insurance players.

Weakness

Many competitors in the market of same products by the title and difference in

premium and offerings.

a. Sustainable to risk associated with investments in money market.

b. Very less network branches due to which it difficulty for customer to make

payment easily .

c. Not focusing on consumer awarness mainly concentrating on personal selling.

d. More focusing in urban areas not touching rural area which has a very good

potential market for insurance sector.

e. Lacking in advertisement due to which they are not able to cover large area or

lagre number of customer.

Opportunities

a. Huge market is lileterally untapped out of estimated 320 million insurable

markets only 20% of the population insured.

b. Death insurance & pension schemes < an estimated market potential of

approximately $ 15 billon

c. Nearly 70% of the Indian population is without life health and non insurance.

d. Per capital life insurance premium in India in 2004 was $16 as compared to

the world average $292.

e. Strong economic growth with increase in affluence and rising risk awareness

leading to rapid growth in he insurance sector.

Threats

a. Entry of many other private companies with equally strong experience and

financial strength of foreign partners making the competition difficult and

saturating the urban market .(e.g idbi ,fortis insurance and more.)

b. Current government policies do not encourage gross domestic saving ,if the

tax liability of the service ,the customer will have little money to invest.

c. LIC has woken up from sleep and following : competitive strategies its ,huge

surplus in life funds gives a capability to lodge price was.

1.10.1. FACTORS FOR SUCCESS

(a) Strong Parental SupporT

(b) MetLife benefit from parent Company’s Global presence

(c) Proven Track Record

(d) International Standard of Customer Service

(e) Using Technology as Business Enabler

(f) Uses a Software Module called AURA which automatically process

an insurance proposal and issue the policy. It ensures quick turnaround

time and accuracy

(g) Using Full Time Agents on Commission basis

(h) Agents are Full Time Working on Commission basis

(i) Reduce Fixed Cost

(j) Major Advertisement Campaign

(k) Internet

(l) Television and other Audio Mediums

(m) Telemarketing

(n) Referrals

(o) Personalization of Product and Services

(p) Penetrating untapped Semi urban and rural market

1.11 FUTURE PLANS

(A) Goal of 5 million customers by 2010

(B) Further Expand operations to Class B and Class C cities and part of

rural India .

(C) Aggressive Growth plans of 100% yoy for next 2-3 years.

(D) To capture a market share of 5% in Indian Insurance Sector

(E) MetLife International plans to increase its stake in the Indian

Subsidiary

11.1.1 .TAX BENEFITS

INC

OME

TAX

SEC

TION

GRO

SS

ANN

UAL

SAL

ARY

HOW

MUC

H

TAX

CAN

YOU

SAVE

?

METL

IFE

PLAN

S

Sec.

80C

Acro

ss

All

inco

me

Slabs

Upto

Rs.

33,990

saved

on

invest

ment

of

Rs.

1,00,0

00.

All the

life

insura

nce

plans.

Sec.

80

CCC

Acro

ss all

inco

me

slabs

.

Upto

Rs.

33,990

saved

on

Invest

ment

of

Rs.1,0

0,000.

All the

pensio

n

plans.

Sec. Acro Upto All the

80

D*

ss all

inco

me

slabs

Rs.

3,399

saved

on

Invest

ment

of

Rs.

10,000

.

health

insura

nce

riders

availab

le with

the

conven

tional

plans.

TOT

AL

SAVI

NGS

POSS

IBLE

**

Rs37,389

Rs. 33,990 under Sec. 80C and under Sec. 80 CCC ,

Rs.3,399 under Sec. 80 D, calculated for a male with

gross annual income

exceeding Rs. 10,00,000.

Sec.

10

(10)

D

Under Sec. 10(10D), the benefits you receive are

completely tax-free, subject to the conditions laid

down therein.

CHAPTER – 2

RESEARCH OBJECTIVE

2.1 RESEARCH OBJECTIVE

Research methodology is a way to systematically solve the research

problem. It may be understood as a science of studying how research is

done scientifically. It involves data collection techniques, the method

of analysis of data, their interpretation and final summarization.

(a) The basic objective is to know the process of recruiting

Financial Advisors in the company.

(b) Identifying key areas which need improvement

2.1.1 RESEARCH DESIGN:

Explorative Research as well as Descriptive type of Research has been

used.

1. Explorative Research

The explorative research has helped to determine the best research

design, data collection and selection of subjects. The reliance of

exploratory research on secondary research, such as qualitative

approaches: informal discussions with employees, management and

more formal approaches through in-depth interviews, questionnaire has

given a significant insight into the given situation.

2. Descriptive research

On the other hand descriptive research has helped to determine “how,

where, when and what “of the situation. Therefore descriptive research

has been used here to get the maximum amount of the information.

2.2 OBJECTIVES OF THE STUDY:

 

The main objective of the study is to know the actual problem of lapses

and loopholes in the whole system/process,The following objectives

were set of the study:

1) To find the discrepancy in the data for the rest of the modes.

2) To know the factors responsible for the lapsed policies.

3) To go for the revival of the policies

2.2.1 SCOPE OF THE STUDY

By this study the company will come to know:-

(a)The issues related to new business processing at branch office.

(b) The limitations regarding the working of MetLife staff.

(c) Company image and acceptability of the products in the market.

(d) About the market position of Company in comparison with other

Insurance companies.

(e) About the availability of its products in the Market and services at

the time same.

2.2.2 .SIGNIFICANCE OF THE STUDY

(A) The project directly deals with interaction with the staff and few

customers of the customers of MetLife Srinagar. So this project helps

me to understand the corporate communication system.

(B) This study is helpful to find out the sales trends of the MetLife

products and its effect on consumers value.

(C) This study makes me understand how the challenging situations are

handled.

This study provides an insight to the company that what kind of

strategy must beadopted in order to increase the sales, reduce the

OTCR rejection rates and ultimately how to increase the market

position of the company

2.3 SOURCE OF THE DATA COLLECTION

The data was collected by meeting the respondents. The purpose of this

study was explained to them in brief and then the questionnaire was

administered to them.

There are two types of data collection methods:

1 Primary Data: In research primary data is collected from all respective

areas. In my report the primary data are collected from questionnaire

and personal interview of the employee.

. Secondary Data : In my report the secondary data are collection Internet

and journels.

2.4 LIMITATIONS OF THE STUDY

(2.4.1) Psychological Constraints: Most of the persons who were

interviewed felt disturbed while responding to questions during their

work hours; hence they made it a point to finish off answering the

questionnaire as soon as possible. Had they spent a little more time on

introspecting on each question the result would have been better.

(2.4.2) Constraints regarding confidential Issues : Most of the

interviewed persons where reluctant to give information.

(2.4.3) DATA INTERPRETATION: After the data collection process,

it was essential to interpret them to figure out the result. The data

collected are expressed with the help of Bar graphs and Pie- Chart.

CHAPTER -4

DATA ANAYSIS

1..What is your qualification?

(a) Below High School 8

(b) High School 13

(c)Intermediate 14

(d) Above the Intermediate 25

Below High School, 8

High School, 13

Intermidiate, 14

Above Intermidiate, 25

Below High School

High School

Intermidiate

Above Intermidiate

INTERRETATION

When I asked them about their qualification to the 50 respondent 8

people said that they have qualification below high school, 13 people

passed high school and 14 people passed intermediate and the other 25

people have above intermediate qualification.

2.Are you interested in Insurance sector?

(a) Yes 27

(b) No 23

Yes, 27

No, 23

Yes

No

INTERPRETATION

By this question we know that above the 50% respondent have

interests in insurance sector, so we say that the people are interested to

do a job in this sector

3. Why do you want to join this sector?

(a) Money 9

(b) Better opportunity in future 15

(c) It is an honorable business 14

(d) Best facility 12

Money, 9

Best opportunity in future , 15It's a honourable job,

14

Money & Growth, 12 Money

Best opportunity in future

It's a honourable job

Money & Growth

INTERPRETATION

When I asked this question this question to the respondent 9 people say

that they want to join this for earning money and 15 want to join it for

better opportunities in the future, 14 say that it is a honorable business

so they want to join it and 12 say that by it we get best facility because

it is a medium to get a best job in any insurance company.

4. Do you have any experience in this sector?

(a) Yes 19

(b) No 31

Yes, 19

No, 31

Yes

No

INTERPRETATION

When I asked this question 31 people say that they have not any

experience in insurance sector, only 19 people have experience in the

insurance sector.

5 .How many years you work in this sector?

(a) 1 years 7

(b) 2 years 5

(c) 3 years 3

(d) Above 3 years 4

1 Years, 7

2 years, 5

3 Years, 3

Above 3 Years, 4 1 Years

2 years

3 Years

Above 3 Years

INTRPRETATION

When I asked this question to those people who have experience in this

sector that how many years they work in this sector 7 people say they

work 1 year in this sector, 5 say 2 years, 3 say 3 years and 4 say that

they work in this sector above 3 years. We see that more people work

less in this sector.

6.In which field of insurance you work?

(a) General insurance 8

(b) Life Insurance 11

General Insurance, 8

Life Insurance, 11

General Insurance

Life Insurance

INTERPRETATION

There are 2 types of insurance first General insurance for motors and

non-living things and second is life insurance for living thing or

person. When I asked this question most of people say that they work

in the life insurance. 11 people work in the life insurance and 8 people

say that they work in the general insurance.

7. Why you want to left that organization?

(a) Conflict in the organization 3

(b) Better opportunities 8

(c) Facilities 5

(d) Some personal problem 3

Conflict in the organization, 3

Better opportunities, 8

Facilities, 5

Some personal problem, 3

Conflict in theorganization

Better opportunities

Facilities

Some personal problem

INTERPRETATION

When I asked those 19 people that why they want to left that

organization 3 people say due to the conflict in the organization, 8

people say that for better opportunities.

8.Would you like to work in the MetLife Insurance Company?

(a) Yes 40

(b) No 10

Yes, 40

No, 10

Yes

No

INTERPRETATION

When I asked this question to the respondent I got positive response

from the respondent 40 people said yes. Only 10 people say no we do

not like work in this organization.

9.Why you choose the MetLife insurance company?

(a) Money 7

(b) Better opportunities 16

(c) Best Facilities 8

(d) It is a growing company 9

Money, 7

Better opportuniti

es, 16

Best facilities, 8

It is a growing

company, 9

Money

Betteropportunities

Best facilities

It is a growingcompany

INTERPRETATION

When I asked this question 16 people want to join it for better

opportunities they say that in this company we get best opportunities

for them self, 7 people want to join it for money, 8 people like its

facilities and 9 people join it that it is a growing company in the market

from others.

10.Do you have any life insurance policy?

(a) Yes 32

(b) No 18

Yes, 32

No, 18

Yes

No

INTERPRETATION

Out of 50 people, 32 say that they have a policy himself, 18 people say

that they have not any policy.

If a person has not a policy than he can not put his point to other that

they take him seriously, they say when you not have then how you say

it good.

11. Do you want join it as a part time job?

(a) Yes 28

(b) No 12

Yes, 28

No, 12Yes

No

INTERPRETATION

In this question 28 respondents say yes that they want to join it as a

part time job, other 12 respondent say no that they want to join it as a

profession.

Most of person wants to join it as part time job because they are

already to do some thing other.

CHAPTER -4

FINDING & RECOMENDATION

(A)In the insurance sector the people come for join as a financial

advisor they have not more qualification most of people have

qualification below intermediate.

So it is important that company choose that person for financial

advisor, who have better education and he have more knowledge about

the market.

(B ) Af t e r l ook ing i n to t he S t r eng th , weaknes s ,

opportunities and threats, it is being observed that it has a nice build up

with the other bank assurance but it itself is promoting less

(C).Persons are interested in insurance sector for work they like it for

its facilities. People give positive response when I asked him that are

they interested in insurance sector. So if the company gives more

facilities tjen the people join it and they take more interest in it.

(D) There are unlimited scope in the insurance sector in India, but for

MetLife in order to create a market share and to make the market feel

of their presence, there are lot of improvements have to be done like

creating more branches to make it visible in t he ma rke t .

(E) When I asked them that why they want to join it most of people

join it for better opportunities, few people join it for money but some

people join it that it is an honorable business. So if the company gives

the more opportunities to financial advisor as like incentive, award,

promotion etc. many people join it.

(F) When I asked that they have any experience then less people said that they have

experience in this sector. It means less people already work in this sector. So if the

companies give more attention then they get more people for work in the company.

(G) As the people think that insurance is a tool to protect their family & a tax saving

device. They are aware of the fact & 89 realizing its, importance. There is a large

potential for insurance in India.

(H) People work in this sector less time, those people who have

experience they worked less time more people work in this sector

below 3 years.

(I) There are tow types of insurance held in the field first General Insurance for motor

and second is Life Insurance for men, more people have experience in the life

insurance it is a benefit for the company that more people can join it as a job.

(J) Met Life India Insurance is leading with several companies’ policies it should be

easy for them to penetrate into the market and secure a good position if they pay

greater attention to the service part provided to their customer and thereby forming a

long and trusted relationship.

(K) Those person who are work already in a other organization they

want ot left that organization some people say due to conflict in the

organization, some say that the can not get more opportunities in that

organization, some say for money and some say that they have some

personal problem for leaving the organization. It means if the

organization improves these facilities then the organization attract

more experience people in the organization.

(L) More people want to join the MetLife insurance company. Its

means the company have more value in the market and it gives more

facility instead of others companies.

(M) More people want to join this company due to its facilities and

opportunities which are given to the financial advisors. So its

impartment that company try to provides more facilities that more

people join it.

(N) Many people have a insurance policy it so that they are aware with

it and think that it is so impartment the people.

(O )Many people join it as a part time job due to some reason so it is

necessary that company provides him facilities according him because

they work when they get the time.

CHAPTER -5

CONCULSION

CONCLUSION:

BRAND, the brand of MetLife Insurance appeals to growing middle-income group. It

has the support of an aggressive foreign bank at its back; Its market position is strong

Shareholders return has grown by 7times and more till date.

MetLifeLife Insurance maintains the position of word leading Cash

Management Provider. Its improved product proposition attracts one

and all; it is one of the most profitable MNC in India. It is a

multicultural organization providing good support of efficient 2.5 the

market:

(a) Expansion of Customer base

(b)Improvement in Quality of the Services

(c) Increased Customer Satisfaction

(d)Consistent Business Growth

(e)Increase in Profitability

(f)Retaining The Customer

(g)Choose the best Financial Advisors

(h)Develop the Financial Advisor’s skills.

(i)Give the opportunities them in the organization

BIBLIOGRAPHY

1. Principles of Marketing Management- Phillip Kotler

2. www.metlife.com

3. Product Brochures

4. Old Database

5. www.google.co.in (its related website)

6. www.nurcindia.com

7. www.irda.co.in

APPENDIX

QUESTONNAORE

:- Personal detail of respondent

Name……………………………………………………………………

….

Designation……………………………………………………………..

Department…………………………………………………………….

1. What is your qualification?

(a) High School

(b) Intermediate

(c) Graduation

(d) Bellow the High School

2. Are you interested in Insurance sector?

(a) Yes

(b) No

3. Why you want to join this sector?

(a) Money

(b) Better opportunity in future

(c) It is an honorable business

(d) Best facility

4. Do you have any experience in this sector?

(a) Yes

(b) No

5. How many years you work in this sector?

(a) 2 years

(b) 3 years

(c) 4 years

(d) 5 years

6. In which sector you work?

(a) General insurance

(b) Life Insurance

7. Why you want to leave that organization?

(a) Conflict in the organization

(b) Better opportunities

(c) Facilities

(d) Some personal problem

8. Would you like to work in the MetLife Insurance Company?

(a) Yes

(b) No

9. Why you choose the MetLife insurance company?

(a) Money

(b) Better opportunities

(c) Best Facilities

(d) It is a growing company

10. Do you have any life insurance policy?

A- Yes B- No

11. Do you want join it as a part time job?

(a) Yes

(b) No