A

SUMMER TRAINING PROJECT REPORT

ON

STUDY OF CHANNEL
DVELOPMENT
OF
KOTAK LIFE INSURANCE CO. LTD.,
DELHI

SUBMITTED FOR THE PARTIAL FULFILLMENT

OF THE REQIRMENT FOR THE AWARD
Of

Bachelor of Business Adminsitration

SUBMITTED BY

BBA-III

1
 ACKNOWLDGEMENT

There are many people in Kotak who had helped me during the course

of the project. It is my duty to acknowledge and thank them for their

help. As a matter of course thanks are due to the following persons in

the given order:

Unit Manager: Mr. Shiv Shankar Sahay, Kotak Life Insurance,

Delhi who has been there as and when I required their help in no

mater what respect. Never the less I have learnt the major managerial

skills which would be helpful in my career.

Others: This part includes the day to day people whom I use to meet in

the organization. They are the advisors working there; this include the

staff working out there and even the people whom I met in the NCR,

who were kind enough to spare a few minutes of their precious time

and to take part in the survey.

I would like to extend my thanks to Ms. -BBA,Guru Jambeshwar

University and all the faculty members for the co-operation extended
by them.
I am sincerely thankful to the above people who were very kind and co-

operative with us when ever we needed them.

2
 GUIDE CERTIFICATE

This is to certify that the project titled “CHANNEL

DEVELOPMENT
OF KOTAK LIFE INSURANCE CO. LTD.,
DELHI ” is an original work of Ms. Sarika Enrollment student of
Guru Jambeshwar University , Hissar submitted in partial
fulfillment of the requirements for the award of Bachelor of
Business Administration(BBA)(2008-2011) under the guidance of
the committee.

3
 PREFACE
The business of insurance is related to the protection of economic
value of assets. The assets would have been created through the
efforts of the owner, in the expectation that, either through the income
generated there from the some other output, some of his needs would
be met. If assets get lost earlier, being destroyed or made non-
functional, through an accident or other unfortunate event, the owner
and those deriving benefits there from suffer. Insurance is a
mechanism that helps to reduce such adverse consequences.
Insurance plays a major role in different perspective. For economic
development investments are necessary. Investments are made out of
savings. A life insurance company is a major investment for the
mobilization of saving of people, particularly from the middle and lower
income groups. These savings are channeled in to the investments for
economic growth. In order to amenable to statistical predictions,
insurance risks must be handled on a large scale.
All organization face change in their environment with resultant change
in their markets and in the ability to satisfy their markets. Each
organization is faced with new marketing problems and opportunities in
their existing and potential market.
Marketing decision makers cope with these challenges in a variety of
ways. The marketer’s is being required to forecast, forecast the risk
and uncertainness in their own way, supported by market research.
Man on earth can entirely eliminate knows no method but scientific
method can minimize the element of uncertainties that can result from
back of information without orientation, Market research is a process of
collecting information about who, why and how of actual and potential
consumers in a particular market. The main purpose of market
research is the ability to continually foresee both in the long and short
term.

4
S.NO TOPICS PAGE.NO
1. Insurance Industry 9-22

 Introduction

 Brief History of Insurance

 Purpose and need of Insurance

 Indian Insurance sector

2. KOTAK Prudential 23-30

 KOTAK Bank

 Prudential Plc

 Vision

 Management
3. Product of KOTAK Prudential 31-55
4. Research Methodologies 56
5. Method 57-58

 Data collection method

 Sample Size

 Sample Composition

 Research Design
6. Finding 59
7. Suggestions and recommendation 60

8. Importance of Advisor in an insurance company 62-66

9. Basics of recruiting 67-69

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10. Recruiting success formula 70

11. Strategies involved in searching potential advisor 71-79

12. What’s in store for an advisor at KOTAK prudential 80-82

13. Some Basic Mandated Which a Manager Answers Before 83-85

Recruiting

14. Recruitment activities 86

15. Conclusion 88

16. Annexure 89-98

17. Bibliography 99

INTRODUCTION

The business of insurance is related to the protection of the economic

values of assets. Every asset has a value; the assets would have been
created through the efforts of the owner. The asset is valuable to the
owner, because he expects to get some benefits from it. The benefit
may be an income or something else. It is a factory or a cow, the
product generated by is sold and income generated. In the case of a

6
motor car, it provides comfort and convenience in transportation. There
is no direct income.

Every asset is expected to last for a certain period of time during which
it will perform. After that, the benefit may not be available. There is a
life-time for a machine in a factory or a cow or a motor car. None of
them will lose for ever. The owner is aware of this and he can so
manage his affairs that by the end of that period of life-time, a
substitute is made available. Thus, he makes sure that the value of
income is not lost. However, the asset may get lost earlier. An accident
or some other unfortunate event may destroy it or make it non financial.
In that case, the owner and those deriving benefits there from, would
be deprived of the benefit and the planned substitute would not have
been ready. There is an adverse or unpleasant situation. Insurance is a
mechanism that helps to reduce the effect of such adverse situation.

BRIEF HISTORY OF INSURANCE

The business of insurance started with marine business. Traders, who
used to gather in the Lloyd’s coffee house in London, agreed to share
the losses to their goods while being carried by ships. The losses used
to occur because of pirates who robbed on the high seas or because of
bad weather spoiling the goods or sinking the ship. The first insurance
policy was issued in 1583 in England. In India, insurance began in
1876 with life insurance being transacted by an English company, the
European and the Albert. The first Indian insurance company was the
Bombay Mutual Assurance Society Ltd, formed in 1870. This was
followed by the Oriental Life Assurance Co. in 1874, the Bharat in 1896
and the Empire of India in 1897.

Later, the Hindustan Cooperative was formed in Calcutta, the United

India in Madras, the Bombay Life in Mumbai, the National in Calcutta,
the New India in Mumbai, the Jupiter in Mumbai and the Lakshmi in
New Delhi. These were all Indian companies, started as a result of the

7
swadeshi movement in the early 1900s. By the year 1956, when the life
insurance was nationalized and the Life Insurance Corporation of India
(LIC) was formed on 1st September 1956, there were 170 companies
and 75 provident fund societies transacting life insurance business in
India. After the amendment to the relevant laws in 1999, the L.I.C. did
not have the exclusive privilege of doing life insurance business in
India. By 31.3.2002, eleven new insurers had been registered and and
had begun to transact life insurance business in India.

PURPOSE AND NEED OF INSURANCE

Assets are insured, because they are likely to be destroyed, through
accidental occurrences. Such possible occurrences are called perils,
Fire, floods, breakdown, lightning, earthquakes, etc, are perils. If such
perils can cause damage to the asset, we say that the asset is exposed
to that risk. Perils are the events. Risks are the consequential losses or
damages. The risk to a owner of a building, because of the peril of an
earthquake, may be a few lakhs or few crores of rupees, depending on
the cost of the building and the contents in it.

The risk only means that there is a possibility of loss or damage. The
damage may or may not happen. Insurance is relevant only if there are
uncertainties. If there is no uncertainty about the occurrence of an
event, it cannot be insured against. In the case of a human being,
death is certain, but the time of death is uncertain, In the case of a
person who is terminally ill, the time of death is not uncertain, though
not exactly known. He cannot be insured.

Insurance does not protect the asset. It does not prevent its loss due to
the peril. The peril cannot be avoided through insurance. The peril can
sometimes be avoided, through better safety and damage control
management. Insurance only tries to reduce the impact of the risk and
the owner of the assets and those who depend on that asset. It only
compensates the losses – and that too, not fully.

8
Only economic consequences can be insured. If the loss is not
financial, insurance may not be possible. Examples of non economic
losses are love and affection of parents, leadership of managers,
sentimental attachments to family heirlooms, innovative and creative
abilities, etc.

9
 INDIAN INSURANCE SECTOR

The Insurance sector in India governed by Insurance Act, 1938, the

Life Insurance Corporation Act, 1956 and General Insurance
Business (Nationalisation) Act, 1972, Insurance Regulatory and
Development Authority (IRDA) Act, 1999 and other related Acts.

Life Insurance Corporation of India (LIC)

Life Insurance Corporation of India (LIC) was formed in September,

1956 by an Act of Parliament, viz., Life Insurance Corporation Act,
1956, with capital contribution from the Government of India. The
then Finance Minister, Shri C.D. Deshmukh, while piloting the bill,
outlined the objectives of LIC thus: to conduct the business with the
utmost economy, in a spirit of trusteeship; to charge premium no
higher than warranted by strict actuarial considerations; to invest
the funds for obtaining maximum yield for the policy holders
consistent with safety of the capital; to render prompt and efficient
service to policy holders, thereby making insurance widely popular.

10
Since nationalisation, LIC has built up a vast network of 2,048
branches, 100 divisions and 7 zonal offices spread over the
country. The Life Insurance Corporation of India also transacts
business abroad and has offices in Fiji, Mauritius and United
Kingdom. LIC is associated with joint ventures abroad in the field of
insurance, namely, Ken-India Assurance Company Limited,
Nairobi; United Oriental Assurance Company Limited, Kuala
Lumpur and Life Insurance Corporation (International) E.C.
Bahrain. The Corporation has registered a joint venture company in
26th December, 2000 in Kathmandu, Nepal by the name of Life
Insurance Corporation (Nepal) Limited in collaboration with Vishal
Group Limited, a local industrial Group. An off-shore company
L.I.C. (Mauritius) Off-shore Limited has also been set up in 2001 to
tap the African insurance market.

General Insurance:

11
General insurance business in the country was nationalised with effect
from 1st January, 1973 by the General Insurance Business
(Nationalisation) Act, 1972. More than 100 non-life insurance
companies including branches of foreign companies operating
within the country were amalgamated and grouped into four
companies, viz., the National Insurance Company Ltd., the New
India Assurance Company Ltd., the Oriental Insurance Company
Ltd., and the United India Insurance Company Ltd. with head
offices at Calcutta, Bombay, New Delhi and Madras, respectively.
General Insurance Corporation (GIC) which was the holding
company of the four public sector general insurance companies
has since been delinked from the later and has been approved as
the "Indian Reinsurer" since 3rd November 2000. The share capital
of GIC and that of the four companies are held by the Government
of India. All the five entities are Government companies registered
under the Companies Act.

The general insurance business has grown in spread and volume

after nationalisation. The four companies have 2699 branch offices,
1360 divisional offices and 92 regional offices spread all over the
country. GIC and its subsidiaries have representation either directly
through branches or agencies in 16 countries and through
associate/ locally incorporated subsidiary companies in 14 other
countries. A wholly- owned subsidiary company of GIC, i.e. Indian
International Pte. Ltd. is operating in Singapore and there is a joint
venture company, viz. Kenindia Assurance Ltd. in Kenya. A new
wholly owned subsidiary called New India International Ltd., UK
has also been registered.

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 NEW INSURANCE SCHEMES
UNIVERSAL HEALTH INSURANCE SCHEME
The Universal Health Insurance policy is available to groups of 100 or
more families. The policy provides for reimbursement of medical
expenses upto Rs.30000/- towards hospitalisation floated amongst
the members of the family, death cover due to an accident for
Rs.25000 to the earning head of the family and compensation due
to loss of earning head of the family @ Rs.50/- per day upto a
maximum of 15 days, after a waiting period of three days, when the
earning head of the family is hospitalised. The premium under the
policy is Rs.1/- per day (i.e. Rs.365/- per annum) for an individual,
Rs.1.50 per day for a family of five limited to spouse and children
(i.e. Rs.548 per annum), and Rs.2/- per day (i.e. Rs. 730 per
annum) for covering dependent parents within the overall family
size of seven. A subsidy of Rs. 100 per year towards annual
premium for "Below Poverty Life" families is also provided under
the Scheme.

For purpose of this policy HOSPITAL means:

Any Hospital/Nursing home registered with the local authorities and

under the supervision of a registered and qualified Medical
practitioner.
Hospital/ Nursing Home run by Government.
Enlisted hospitals run by NGOs/ Trusts/ selected private hospitals with
fixed schedule of charges.
Hospitalisation should be for a minimum period of 24 hours. However,
this time limit is not applied to some specific treatments and also
where due to technological advancement hospitalisation for 24
hours may not be required.

Main Exclusions:

All pre-existing diseases.

13
Corrective, cosmetic or aesthetic dental surgery or treatment.
Cost of spectacles, contact lens and hearing aid.
Primarily diagnostic expenses not related to sickness/injury.
Treatment for Pregnancy, Childbirth, Miscarriage, abortions etc.

Age Limitations:
This policy covers people between the age of 3 months to 65
years.

Floater Basis:
The benefit of family will operate on floater basis i.e. the total
reimbursement of Rs. 30,000/- can be avalied of individually or
collectively by members of the family.

For further details please refer the Prospectus or the Policy

Document issued by the Insurance Company.

Varishtha Pension Bima Yojana

Scheme

Indian citizens aged 55 years (last birthday) and above are eligible (no
upper age ceiling).
Pension will be paid during the lifetime of the pensioner.
In the event of unfortunate death of the pensioner, purchase price will
be paid to the nominee/ legal heir of the pensioner.
Mode of payment of pension : Monthly, Quarterly, Half Yearly or
Yearly.
Minimum pension is Rs. 250/- per month
Maximum pension is Rs. 2000/- per month.
Only one person from a family can apply. The family for this purpose
shall comprise of the pensioner, his/ her spouse and dependants.

14
Age proof will be required. Where age is to be admitted on declaration
basis, declaration on a stamp paper, signed in front of a notary
shall be required.

Premium
Only single premium (purchase price) is payable i.e. premium is to
be paid in one lump sum. Further, premium shall be accepted by
cheques/ drafts payable on the Branch of the bank which is the
member of the local clearing house.

Exit Option
Exit option to be provided after 15 years.

Availability of Loan
Availability of loan to the extent of 75% of Purchase Price after 3
years. Interest rate on loan to be decided by LIC from time to time.
At present, the rate of interest would be 10.5%.

15
 MAJOR POLICY CHANGES
Reforms In Insurance Sector
Insurance sector has been opened up for competition from Indian
private insurance companies with the enactment of Insurance
Regulatory and Development Authority Act, 1999 (IRDA Act). As
per the provisions of IRDA Act, 1999, Insurance Regulatory and
Development Authority (IRDA) was established on 19th April 2000
to protect the interests of holder of insurance policy and to
regulate, promote and ensure orderly growth of the insurance
industry. IRDA Act 1999 paved the way for the entry of private
players into the insurance market which was hitherto the exclusive
privilege of public sector insurance companies/ corporations. Under
the new dispensation Indian insurance companies in private sector
were permitted to operate in India with the following conditions:

Company is formed and registered under the Companies Act, 1956;

The aggregate holdings of equity shares by a foreign company, either
by itself or through its subsidiary companies or its nominees, do not
exceed 26%, paid up equity capital of such Indian insurance
company;
The company's sole purpose is to carry on life insurance business or
general insurance business or reinsurance business.
The minimum paid up equity capital for life or general insurance
business is Rs.100 crores.
The minimum paid up equity capital for carrying on reinsurance
business has been prescribed as Rs.200 crores.

The Authority has notified 27 Regulations on various issues which

include Registration of Insurers, Regulation on insurance agents,
Solvency Margin, Re-insurance, Obligation of Insurers to Rural and
Social sector, Investment and Accounting Procedure, Protection of
policy holders' interest etc. Applications were invited by the
Authority with effect from 15th August, 2000 for issue of the

16
 Certificate of Registration to both life and non-life insurers. The
Authority has its Head Quarter at Hyderabad.

INSURANCE COMPANIES
IRDA has so far granted registration to 12 private life insurance
companies and 9 general insurance companies. If the existing
public sector insurance companies are included, there are
currently 13 insurance companies in the life side and 13
companies operating in general insurance business. General
Insurance Corporation has been approved as the "Indian
reinsurer" for underwriting only reinsurance business.
Particulars of the life insurance companies and general
insurance companies including their web address is given
below:

LIFE INSURERS Websites

Public Sector
Life Insurance Corporation of
www.licindia.com
India
Private Sector
Kotak Life Insurance Co.
www.kotak prulife.com
Limited
Allianz Bajaj Life Insurance
www.allianzbajaj.co.in
Company Limited
Birla Sun-Life Insurance
www.birlasunlife.com
Company Limited

HDFC Standard Life

www.hdfcinsurance.com
Insurance Co. Limited

ING Vysya Life Insurance

www.ingvysayalife.com
Company Limited

17
Max New York Life Insurance
www.maxnewyorklife.com
Co. Limited
MetLife Insurance Company
www.metlife.com
Limited
Om Kotak Mahindra Life
www.omkotakmahnidra.com
Insurance Co. Ltd.

SBI Life Insurance Company

www.sbilife.co.in
Limited

TATA AIG Life Insurance

www.tata-aig.com
Company Limited
AMP Sanmar Assurance
www.ampsanmar.com
Company Limited
Dabur CGU Life Insurance
www.avivaindia.com
Co. Pvt. Limited
GENERAL INSURERS
Public Sector
National Insurance Company
www.nationalinsuranceindia.com
Limited
New India Assurance
www.niacl.com
Company Limited
Oriental Insurance Company
www.orientalinsurance.nic.in
Limited
United India Insurance
www.uiic.co.in
Company Limited
Private Sector
Bajaj Allianz General
www.bajajallianz.co.in
Insurance Co. Limited
KOTAK Lombard General
www.kotak lombard.com
Insurance Co. Ltd.
IFFCO-Tokio General
www.itgi.co.in
Insurance Co. Ltd.

18
Reliance General Insurance
www.ril.com
Co. Limited

Royal Sundaram Alliance

www.royalsun.com
Insurance Co. Ltd.

TATA AIG General Insurance

www.tata-aig.com
Co. Limited
Cholamandalam General
www.cholainsurance.com
Insurance Co. Ltd.
Export Credit Guarantee
www.ecgcindia.com
Corporation
HDFC Chubb General
Insurance Co. Ltd.
REINSURER
General Insurance
www.gicindia.com
Corporation of India

PROTECTION OF THE INTEREST OF POLICY HOLDERS:

IRDA has the responsibility of protecting the interest of insurance

policyholders. Towards achieving this objective, the Authority has
taken the following steps:

IRDA has notified Protection of Policyholders Interest Regulations 2001

to provide for: policy proposal documents in easily understandable
language; claims procedure in both life and non-life; setting up of
grievance redressal machinery; speedy settlement of claims; and
policyholders' servicing. The Regulation also provides for payment
of interest by insurers for the delay in settlement of claim.

19
The insurers are required to maintain solvency margins so that they are
in a position to meet their obligations towards policyholders with
regard to payment of claims.
It is obligatory on the part of the insurance companies to disclose
clearly the benefits, terms and conditions under the policy. The
advertisements issued by the insurers should not mislead the
insuring public.
All insurers are required to set up proper grievance redress machinery
in their head office and at their other offices.
The Authority takes up with the insurers any complaint received from
the policyholders in connection with services provided by them
under the insurance contract.

20
Insurance Company Market Share (Fig. in
%)
LIC 71.44
KOTAK Prudential 11.35
Bajaj Allianz 7.06
HDFC Standard Life 2.37
SBI Life 1.81
Birla Sun Life 1.49
Max New York Life` 0.98
TATA AIG 0.79
Aviva 0.89
OM Kotak Mahindra 0.86
ING Vyasa 0.57
Reliance 0.37
MetLife 0.24

Market Share of Life Insurance Companies as of May

2006.

21
 ABOUT KOTAK
PRUDENTIAL

Kotak Life Insurance Company is a joint venture

between KOTAK Bank, a premier financial powerhouse
and Prudential Plc, a leading international financial
services group headquartered in the United Kingdom.
This joint venture is formed in the year Dec, 2000 and
Kotak was amongst the first private sector Insurance
companies to begin operation in Dec, 2000 after
receiving approval from the Insurance Regulatory
Development Authority (IRDA).

For the year ended March 31, 2006, the company

garnered Rs 24.12 billion of weighted new business
premium and wrote 837,963 policies. The sum assured
in force stands at Rs 458.88 billion. The company has a
network of over 72,000 advisors; as well as 9 banc
assurance partners and over 200 corporate agent and
broker tie-ups. It is also the only life insurer in India to
be assigned AAA credit rating from Fitch Ratings. For
the past five years, Kotak has retained its position as the
No. 1 private life insurer in the country, with a wide
range of flexible products that meet the needs of the
Indian customer at every step in life. KOTAK Bank and

22
Prudential Plc hold 74 percent and 26 percent stake
respectively.

PARTNERS

KOTAK and Prudential came together in 1993 to

form Prudential KOTAK Asset Management Company,
which has today emerged as one leading mutual funds
in India. Riding on the success of this relationship, the
two companies joined hands ones more in 2000, to form
Kotak Life Insurance, with a commitment to provide
leading edge life insurance solutions.

ABOUT KOTAK BANK

KOTAK Bank is India's second-largest bank with

total assets of about Rs. 2,513.89 bn (US$ 56.3 bn) at
March 31, 2006 and profit after tax of Rs. 25.40 bn (US$
569 mn) for the year ended March 31, 2006 (Rs. 20.05
bn (US$ 449 mn) for the year ended March 31, 2005).
KOTAK Bank has a network of about 614 branches and
extension counters and over 2,200 ATMs. KOTAK Bank
offers a wide range of banking products and financial
services to corporate and retail customers through a
variety of delivery channels and through its specialized
subsidiaries and affiliates in the areas of investment
banking, life and non-life insurance, venture capital and
asset management. KOTAK Bank set up its

23
international banking group in fiscal 2002 to cater to the
cross border needs of clients and leverage on its
domestic banking strengths to offer products
internationally. KOTAK Bank currently has subsidiaries
in the United Kingdom, Russia and Canada, branches in
Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai
International Finance Centre and representative offices
in the United States, United Arab Emirates, China, South
Africa and Bangladesh. Our UK subsidiary has
established a branch in Belgium. KOTAK Bank is the
most valuable bank in India in terms of market
capitalization.

KOTAK Bank's equity shares are listed in India on the

Bombay Stock Exchange and the National Stock
Exchange of India Limited and its American Depositary
Receipts (ADRs) are listed on the New York Stock
Exchange (NYSE).

KOTAK Bank has formulated a Code of Business

Conduct and Ethics for its directors and employees

At June 5, 2006, KOTAK Bank, with free float market

capitalization of about Rs. 480.00 billion (US$ 10.8
billion) ranked third amongst all the companies
listed on the Indian stock exchanges.

KOTAK Bank was originally promoted in 1994 by

KOTAK Limited, an Indian financial institution, and was
its wholly-owned subsidiary. KOTAK 's shareholding in

24
KOTAK Bank was reduced to 46% through a public
offering of shares in India in fiscal 1998, an equity
offering in the form of ADRs listed on the NYSE in fiscal
2000, KOTAK Bank's acquisition of Bank of Madura
Limited in an all-stock amalgamation in fiscal 2001, and
secondary market sales by KOTAK to institutional
investors in fiscal 2001 and fiscal 2002. KOTAK was
formed in 1955 at the initiative of the World Bank, the
Government of India and representatives of Indian
industry. The principal objective was to create a
development financial institution for providing medium-
term and long-term project financing to Indian
businesses. In the 1990s, KOTAK transformed its
business from a development financial institution
offering only project finance to a diversified financial
services group offering a wide variety of products and
services, both directly and through a number of
subsidiaries and affiliates like KOTAK Bank. In 1999,
KOTAK become the first Indian company and the first
bank or financial institution from non-Japan Asia to be
listed on the NYSE.

25
ABOUT PRUDENTIAL PLC

Established as the Prudential Mutual Assurance and Loan

Association in 1848, today it is an international financial
services company with a product range which extends from
personal banking insurance, pensions and retail investments,
to institutional fund management and property investments.

Its portfolio of well-known and respected brands, including

Prudential, M&G Investments, Jackson National Life,
Prudential Corporation Asia and Egg, has attracted more
than 19 million customers (and policy holders and unit
holders) worldwide. Across the Group it has £234 billion of
funds under management (at 31 December 2005).

Prudential has significant operations in the UK, the US and

Asia, contributing to a diversity of earnings. Worldwide it
employ more than 20,000 people and our shareholders
number 60,942 (at 31 December 2005). We are listed on the
London and New York stock

In Asia, Prudential Corporation Asia has 23 operations in 12

countries. These include strategic partnerships with some of
the region’s leading players, including CITIC Group (for life
business in China), KOTAK Bank (for life and mutual fund
business in India) and Bank of China International (for
Mandatory Provident Fund business in Hong Kong).
Prudential Corporation Asia offers a wide range of savings,
protection and investment products tailored to the needs of

26
our customers in each of the 12 markets in which itoperate.
In addition to its life insurance operations Prudential has
asset management businesses in India, Hong Kong, Japan,
Taiwan, Malaysia, Singapore, Korea, Vietnam and China
managing over £26 billion (as of 30 June 2005).

VISION

OUR VISION:

To make Kotak the dominant Life and Pensions player built

on trust by world-class people and service.

This we hope to achieve by:

• Understanding the needs of customers and offering

them superior products and service
• Leveraging technology to service customers quickly,
efficiently and conveniently
• Developing and implementing superior risk
management and investment strategies to offer
sustainable and stable returns to our policyholders
• Providing an enabling environment to foster growth and
learning for our employees
• And above all, building transparency in all our dealings.

The success of the company will be founded in its unflinching

commitment to 5 core values -- Integrity, Customer First,

27
Boundary less, Ownership and Passion. Each of the values
describes what the company stands for, the qualities of our
people and the way we work.

We do believe that we are on the threshold of an exciting

new opportunity, where we can play a significant role in
redefining and reshaping the sector. Given the quality of our
parentage and the commitment of our team, there are no
limits to our growth.

28
MANAGEMENT

Board of Directors:
The Kotak Life Insurance Company Limited Board comprises reputed
people from the finance industry both from India and abroad.

Mr. K.V. Kamath, Chairman

Mr. Mark Norbom
Mrs. Lalita D. Gupte
Mrs. Kalpana Morparia
Mrs. Chanda Kochhar
Mr. HT Phong
Mr. M.P. Modi
Mr. R Narayanan
Mr. Keki Dadiseth
Ms. Shikha Sharma, Managing Director
Mr. N.S. Kannan, Executive Director

Management Team
Ms. Shikha Sharma, Managing Director & CEO
Mr. N.S. Kannan, Executive Director
Mr. V. Rajagopalan, Chief - Actuary
Mr. Sandeep Batra, Chief Financial Officer Company Secretary
Ms. Anita Pai, Chief - Customer Service and Technology
Mr. Puneet Nanda, Chief - Investments

29
PRODUCT OF KOTAK
PRUDENTIAL

SAVINGS PLANS

Kotak offers a variety of policies that give you the benefits of

protection and the opportunity to save for important assets or
events, like a home, a car or a wedding.

A regular premium unit-linked insurance plan with an

assurance of Capital Guarantee* and the facility of extended
insurance cover.

*The capital guarantee is applicable only on the invested

premium and the declared bonus interests.

A regular premium unit-linked insurance plan with an

assurance of Capital Guarantee* along with flexible liquidity
options.

A unit-linked insurance plan with an assurance of Capital

Guarantee*, which offers you the benefit of a limited
premium payment and coverage term.

30
A market linked insurance plans that meets your Investment
and Protection needs.

Complete market-linked insurance plans that adapt itself to

your changing protection and investment needs, throughout
a lifetime.

An insurance plan that gives added protection savings and

multiple options, all in one!

An insurance plan that gives added protection savings,

multiple options, plus the power of liquidity.

A traditional endowment savings plan that offers both high

returns and protection.

An endowment savings plan that allows you to get back

substantial survival benefits without having to wait till the
maturity date.

31
PROTECTION PLANS

Kotak Life Insurance offers LifeGuard - a set of pure

protection plans. Choose from amongst three different
product structures to insure your life and provide total
security to your family, at a very affordable cost.

Level Term Assurance with return of premium

 On death the entire sum assured will be paid.

 On maturity, all the premiums paid will be returned.

Level Term Assurance without return of premium

 On death the entire sum assured will be paid.

 No survival or maturity benefits.

You can also enhance the above two policies by adding

Accident & Disability Benefit Rider and Waiver of Premium
Rider (WOP).

Level Term Assurance - Single premium

 On death the entire sum assured will be paid.

 No survival or maturity benefits

32
CHILD PLANS

As a responsible parent, you will always strive to ensure a

hassle-free, successful life for your child. However, life is full
of uncertainties and even the best-laid plans can go wrong.
Here’s how you can give your child a 100% safe and assured
tomorrow, whatever the uncertainties. SmartKid is especially
designed to provide flexibility and safeguard your child’s
future education and lifestyle, taking all possibilities into
account. For further information on our SmartKid Education
Plans

1. SmartKid regular premium

2. SmartKid unit-linked regular premium

3. SmartKid unit-linked regular premium II

4. SmartKid unit-linked single premium II

All these plans offer you:

♦ Financial Benefits: Regular payments at critical

stages in your child’s life, like Board examinations,
Graduation and Post-graduation.
♦ Total peace of mind, even if you are not around

o Sum Assured is paid immediately: Ensures

that your loved ones stay financially secure, even

in your absence

33
 o All future premiums are waived: Ensuring that

your family is not financially burdened in your

absence
o Policy benefits continue: The educational
benefits of the policy continue, ensuring that your
child can realize his or her dreams without any
hassles.
♦ Development Allowance: SmartKid guarantees
regular income to secure your child’s educational
career and also ensures his or her all-round
development, for a nominal additional amount. The
Income Benefit Rider takes care of this through an
annual payment of 10% of the sum assured, to your
child, till the maturity of the policy, in the unfortunate
event of the death of the parent.
♦ All SmartKid plans can be enhanced with the Accident
& Disability Benefit Rider and Income Benefit
Rider.You can also an Accident Benefit Rider to a
SmartKid Regular Premium policy,and a Waiver of
Premium Rider (WOP) to SmartKid unit-linked regular
premium policy.

34
RETIREMENT PLANS

Life Expectancy has been rising rapidly and today you can
expect to live longer than your earlier generations. For you,
this increase will mean a longer retirement life, stretching into
a couple of decades. Kotak presents Retirement Solutions
that combine the best of insurance and investment. These
solutions are developed to ensure your peace of mind for the
years to come.For further information on our Retirement
Solutions

Choose from amongst 6 retirement plans:

A flexible unit-linked retirement solution that offers flexibilities

during the accumulation as well as payout phase.

A regular premium unit-linked pension plan with an

assurance of Capital Guarantee*

*The capital guarantee is applicable only on the invested

premium and the declared bonus interests

35
A regular premium linked pension plan that gives you the
freedom to choose the amount of premium, and invest in
market-linked funds, to generate potentially higher returns.

A single premium linked pension plan that gives you the

freedom to choose the amount of premium, and invest in
market-linked funds, to generate potentially higher returns.

A regular premium pension plan that gives you the flexibility

to choose between 3 levels of sum assured for the same
level of total annual contribution

A regular premium pension plan that helps you save for your
retirement while providing you with life insurance protection.

Choose from 5 Annuity options at the time of vesting

1. Life Annuity
2. Life Annuity with return of purchase price
3. Life Annuity guaranteed for 5, 10, 15 years
4. Joint Life, Last Survivor without return of purchase price
5. Joint Life, Last Survivor with return of purchase price

36
HEALTH PLANS

Comprehensive Cancer Protection Plan

A Long-term Critical Illness Protection Plan.

A Long-term Critical Illness Protection Plan with Life Cover.

INVESTMENT PLANS

Lifelink Super is a unique single premium plan that combines

the security of a life insurance policy with the opportunity to
enjoy potentially high returns on your investments.

Low Allocation Charges: The premium allocation charges

are amongst the lowest across products. Allocation charge
for single Premium of Rs 500,000 or more is 0%.

37
Death Benefit: There are 2 options for sum assured - 500%
of the single premium or 125% of the single premium. In the
event of an unfortunate death, the beneficiary will receive
higher of the value of units or the initial death benefit
(adjusted for partial withdrawals*).

Liquidity: In order to meet liquidity requirements, one can

make partial withdrawals from the accumulated value of the
policy after completion of three policy years.

Flexibility:Choose from four fund options, based on your

investment objective and risk appetite. If at a later stage your
financial priorities change, you can switch between the
various fund options, absolutely free, 4 times a year.

GROUP SOLUTIONS

In an era of competitive parity, the only asset that makes a

decisive difference between corporate success and failure is
the quality
of human capital. Employee benefits have proven to be an
excellent tool to optimize the retention of talent and improve
an organisation’s bottomline. The quality of an organisation’s
employee benefits establishes and maintains a company's
image as a caring employer. Optimum care of employees is
a long-term investment that results in a sustained

38
competitive advantage for an organisation in the times to
come.

KOTAK Pru Group Solutions Advantage

♦ An integrated basket of employee benefit solutions that

offer incomparable flexible benefits.
♦ Sound investment management that focuses on safety,
stability and profitability of the portfolio.
♦ Personalised financial planning for your employee that
takes care of his/her changing financial needs at every
stage of life.
♦ Quality service initiatives and transparency across all
operations, promising superlative operational
efficiency.

Group Term Insurance : Helps provide affordable cover to

members of a group.

Group Gratuity Plan : Helps employers fund their statutory

gratuity obligation in a flexible and hassle-free manner.

Group Superannuation Plan : A flexible scheme (defined

benefit and defined contribution) to provide a retirement kitty
for each member of the group.

Group Term Insurance

39
KOTAK Prudential's flexible group term solution helps
provide affordable cover to members of a group. The cover
could be uniform or based on designation/rank or a multiple
of salary, and can be extended to all employees between the
ages of 18 and 65 years. The benefit under the policy is paid
on the event of the member’s death to the beneficiary
nominated by the member. It is a one-year renewable policy
where one master policy covers all proposed employees
comprising the group, with a minimum group size of 25
persons. New members can join the group and outgoing
members can leave the group at any point during the policy
term.

Highlights include:

♦ Greater convenience for the employees with relaxed

underwriting and medical requirements.

♦ "Free Cover Limits" with simplified underwriting
depending upon the number of employees in the group
and the level of cover chosen.
♦ Guaranteed benefit : On death during the term of the

contract (while in service), the sum assured will be paid

to the beneficiary of the employee.
♦ Choice of additional coverage in form an Accident and
Disability Benefit Rider and Critical Illness Cover
♦ Premium is viewed as a business expense in the year
of payment.

40
Group Gratuity Plan

KOTAK Prudential's group gratuity plan helps employers

fund their gratuity obligation in a scientific manner.
Employers can avail of the tax benefits as applicable to
approved gratuity funds. The plan can also be customized to
structure schemes that can provide benefits beyond the
statutory obligations.

Highlights include:

♦ Wider choice of investments with Market Linked

Plans - to meet the diverse financial goals. We offer

the following investment options (short-term debt,
debt, balanced, growth and capital guarantee on
the short-term debt plan) where investments will be
made in accordance with the fund objectives
♦ Transparency through Daily disclosure of Unit Value

and regular disclosure of the portfolio of each of the

investment option
♦ Flexibility through switching and contribution
redirection option to enable reshuffling of portfolio
♦ Bundled Life Cover greater value to the employee by

packaging life insurance cover with the gratuity, with

minimal amount of underwriting.

41
 ♦ Actuarial services to provide a scientific estimation of

the gratuity liability.

♦ Low explicit charge structure with the conditions for

exit specified upfront.

♦ Enhanced service levels through faster claim
settlement, easier access to information and regular
statements
♦ Complete end to end solution in the legal and

regulatory approval process for scheme set up or

transfer

Employee Benefits

♦ The contribution made by the employer is not included

in the value of taxable perquisites in the hands of the
employee.
♦ Gratuity received up to Rs 350000 is exempt from
Income tax under Sec 10(10)

Employer Benefits

♦ Annual contribution up to 8.33% of salary bill in a

financial year is allowed a deduction for the purpose of
computation of profits and gains of business.
♦ Contribution towards past service liability is allowed as
deduction as per the Income Tax rules.

42
Group Superannuation Plan

KOTAK Prudential’s Superannuation Scheme (for both

Defined Benefit and Defined Contribution funds) offers
substantial benefits to both employers and employees. The
employer and employee can avail of tax benefits applicable
to an approved superannuation trust. The scheme will
provide for a retirement fund for each participating employee.
An employee would be able to choose from various annuity
options or opt for partial commutation of corpus at retirement.

Highlights include:

♦ Wider choice of investments with Market Linked

Plans - to meet the diverse financial goals.We offer the

following investment options (short-term debt, debt,
balanced, growth and capital guarantee options on
short-term debt, debt and balanced) where
investments will be made in accordance with the fund
objectives.
♦ Control - Each member/employer can exercise greater

control over investments by choosing one or more of

the investment options.
♦ Multiple Annuity Options - 5 annuity options and

open market option

♦ Transparency - Transparency through Daily disclosure

of Unit Value and regular disclosure of the portfolio of

each of the investment option.

43
 ♦ Flexibility - Flexibility through switching and
contribution redirection option to enable reshuffling of
portfolio
♦ Low explicit charge structure with conditions for exit

specified upfront.
♦ Enhanced service levels through faster claim
settlement, easier access to information and regular
statements.
♦ Complete end to end solution in the legal and

regulatory approval process for scheme set up or

transfer

RURAL PLANS
KOTAK PrudentialLife Rural Products are designed to meet
the needs of the rural consumers. These products offer the
following features:

1. Low and Affordable Premiums

2. Life Cover
3. Savings Option
4. Hassle free procedure

Kotak offers 2 specially designed rural plans.

1. KOTAK Pru Mitr – Endowment Plan

2. KOTAK Pru Suraksha - Regular Premium

KOTAK Pru Mitr – Endowment Plan

44
KOTAK Pru Mitr offers the following features:

♦ Life Cover and Savings

♦ Regular Premiums
♦ Age at entry : 18 - 45 Yrs
♦ Premium Mode : Half Yearly / Yearly
♦ Term : 5,10,15 Yrs
♦ Sum Assured : Rs.5,000 -20,000
♦ Premium / Year : Rs. 507 - 553 ( SA: Rs.10,000)
♦ Maturity/Death benefit : Sum Assured
KOTAK Pru Suraksha - Regular Premium

KOTAK Pru Suraksha is a regular premium policy with the

following features:

♦ Individual policy
♦ Only Life cover
♦ Term - 3 & 5 Yrs
♦ Age independent premium
♦ Age at entry : 18 - 45 Yrs
♦ Sum Assured : Single
♦ Premium / Year : Rs 50 – 200
♦ Maturity/Death benefit : Rs.5,000 - 20,000
♦ Death Benefit : Sum Assured

45
NRI PLANS

Being away from India doesn't mean you have to

compromise the safety and security of your loved ones. In
fact, your savings from your time overseas can be easily
channelised to meet your family's needs - now and in the
future. So, whether its your dream to retire in your
hometown; to secure
funds for your children's education; or to build assets, Kotak
has a range of solutions that can be customized to meet your
needs.

♦ Investment Plans
♦ Savings Plans
♦ Retirement Plans
♦ Child Plans

46
Investment Plans

You can hedge your investments with investment like

LifeLink Super vehicles that provide you with a diversified
portfolio.

Savings Plans

Endowment policies are a good way of putting aside your

savings today for a future goal - whether it's to buy a house
in India or fund your entrepreneurial vision. Our savings-
oriented policies are designed to make your savings grow
and have them available to you at the end of a fixed number
of years or through the term of the plan.

♦ SecurePlus - an insurance plan that gives added

protection savings and multiple options, all in one!

♦ CashPlus - an insurance plan that gives added

protection savings, multiple options, plus the power of

liquidity.
♦ LifeTime II - a complete market-linked insurance plan

that adapts itself to your changing protection and

investment needs, throughout a lifetime.
♦ Save'n'Protect - a traditional endowment savings plan

that offers both high returns and protection.

47
 ♦ CashBak - an endowment savings plan that allows you

to get back substantial survival benefits without having

to wait till the maturity date.
♦ Premier Life - A market linked insurance plans that

meets your Investment and Protection needs.

Retirement Plans

Many of us picture ourselves enjoying the fruits of our labour

after retirement - going on a dream vacation, or helping our
child's career take wing. Financing all this will depend on our
personal savings and investments, so its important to save
for the future from today. Our retirement plans are designed
to help you systematically save, so that you can enjoy all the
things you have dreamed of when you retire.

♦ LifeTime Pension II : A regular premium linked

deferred pension plan that gives you the freedom to

choose the amount of premium, and invest in market-
linked funds, to generate potentially higher returns.
♦ SecurePlus Pension : A regular premium deferred

pension plan that gives you the flexibility to choose

between 3 levels of sum assured for the same level of
total annual contribution.
♦ LifeLink Pension II : A single premium linked deferred

pension plan that gives you the freedom to choose the

48
 amount of premium, and invest in market-linked funds,
to generate potentially higher returns.
♦ ForeverLife : A regular premium deferred pension plan

that helps you save for your retirement while providing

you with life insurance protection.

Child Plans

As a responsible parent, you want to ensure a hassle-free,

successful life for your child. However, life is full of
uncertainties and even the best-laid plans can go wrong.
SmartKid Education Plans are designed to provide flexibility
and to safeguard your child's future education and lifestyle,
taking all possibilities into account.

SmartKid Child Plans has a bouquet of three products which

can help you secure your child’s education.

♦ Unit-linked Regular Premium

♦ Unit-linked Single Premium
♦ Regular Premium SmartKid

KEYMAN INSURANCE PLANS

A keyman is an individual who directly affects the profitability

and the continuity of a business and whose absence may

49
have an adverse effect on the health and continuity of the
business. Keyman insurance is a life insurance policy taken
by the company on the life of such a key person.

The objective of the keyman insurance is to provide the

company with money so that the financial losses to the
company can be protected, in absence of the keyman. The
aim is to indemnify the company of these losses and to allow
business continuity.

All premiums paid for securing a keyman life insurance policy

are treated as business expenditure u/s 37 (1).

Our Lifeguard plan is ideally suited for the purpose of

keyman insurance

RIDERS

Kotak gives you the freedom to form your very own

comprehensive insurance policy by adding the rider benefits
to the basic life insurance policy. Add from the following list
of benefits to increase the scope of your policy, at a nominal
cost.

♦ Critical Illness Rider

♦ Accident & Disability Benefit Rider
♦ Accident Benefit Rider
♦ Income Benefit Rider
♦ Waiver of Premium Rider (WOP)
Critical Illness Benefit Rider

50
This rider provides protection against 9 critical illnesses,
namely: Major organ transplants, complete renal failure,
Stroke, Paralysis, Heart attack, Valve replacement surgery,
Major surgery of the aorta, CAGS (Bypass) and Cancer.

Benefits paid on contracting the illness:

♦ Accelerated benefits (available with Save n’ Protect

and CashBak) : If the policyholder is diagnosed with

any of the specified illnesses, then the policyholder is
paid the entire sum assured under the rider. The policy
along with all the riders (to the extent of the Rider Sum
Assured) is then terminated. However, the remainder
of the base policy continues till the end of the term. The
policyholder will have to continue paying his premiums
for the remainder of the policy.
♦ Accelerated benefits (available with SecurePlus,

CashPlus and SecurePlus Pension) : If the

policyholder is diagnosed with any of the specified
illnesses, then the policyholder is paid the entire sum
assured under the rider. The life cover along with all
the riders is then terminated. However, the policy value
accumulation continues till the end of the term or
death, whichever is earlier.
♦ Standalone benefits (available with Golden Years,

PremierLife, LifeTime, LifeTime II, ForeverLife,

Group Term Plan, InvestShield Life, InvestShield

51
 Cash and InvestShield Gold) : If the policyholder is
diagnosed with any of the specified illnesses, he/she is
paid the rider Sum Assured and the rider terminates.
However, the base policy continues till maturity.

Premiums paid under this rider are eligible for tax benefits
under Section 80D.

Accident & Disability Benefit Rider

1. Benefits payable on death due to an accident

♦ If the policyholder dies due to an accident, 100%

of the rider sum assured is paid in addition to the
basic sum assured.
♦ In case the policyholder dies in a land surface,
mass public transport system wherein the
policyholder was traveling as a fare-paying
passenger, then 200% of the rider sum assured
is paid.
2. Benefits payable in case of permanent disability
due to an accident
♦ If the policyholder survives an accident but becomes
permanently disabled then the premium for the
basic plan is completely waived off to the extent of
the rider sum assured.

52
 ♦ Plus, 10% of the rider sum assured is paid for the
next 10 years, which helps in providing that extra
money and takes care of sudden financial set back
that occurs after a tragic disability.

Accident & Disability Benefit rider is available with Save n’

Protect, Cashbak, SmartKid Child Plans, Golden Years,
PremierLife, LifeTime, LifeTime II, LifeTime Pension II,
ForeverLife, SecurePlus, CashPlus, SecurePlus Pension,
LifeGuard ROP, LifeGuard WROP, Group Term Plan,
InvestShield Life, InvestShield Cash, InvestShield Gold and
InvestShield Pension . In case of Golden Years, PremierLife,
Lifetime II, Lifetime Pension II, SecurePlus, CashPlus,
LifeGuard ROP and LifeGuard WROP, the waiver of
premium benefit is not available.
Premiums paid under this rider are eligible for tax benefits
under Section 80C.

Accident Benefit Rider

If the policyholder dies due to an accident, 100% of the rider
sum assured is paid in addition to the basic sum assured.

Accident Benefit rider is available with Save’n’Protect,

CashBak, SmartKid regular premium, ForeverLife,
SecurePlus, CashPlus and SecurePlus Pension.

Premiums paid under this rider are eligible for tax benefits
under Section 80C.

53
Income Benefit Rider
In case of death of the life assured during the term of the
policy, 10% of the rider sum assured is paid annually to the
beneficiary, on each policy anniversary till maturity of the
rider.

Income Benefit rider is available with SmartKid Child Plans,

SecurePlus and CashPlus

Premiums paid under this rider are eligible for tax benefits
under Section 80C.

Waiver of Premium Rider (WOP)

On total and permanent disability due to an accident, all
future premiums for both the base policy and rider(s) will be
waived till the end of the term of the rider or death of the life
assured, if earlier.

Waiver of Premium rider is available with SecurePlus,

CashPlus, LifeGuard ROP, LifeGuard WROP, SmartKid Unit-
linked regular premium II, Lifetime II, LifeTime Pension II,
SecurePlus Pension, InvestShield Life, InvestShield Cash
and InvestShield Pension.

Premiums paid under this rider are eligible for tax benefits
under Section 80C.

54
 RESEARCH METHODOLOGY

The approach to the research is considered in this

chapter, from the theoretical underpinning to the
collection and analysis of the data. It begins with the
extent of the research to provide the specific guidelines
of studying. The next part is concerned with the method
of the research that refers to the data collection and
analyzing which is used in the research.

CONCEPTUAL CONTEXT OF THE RESEARCH

As the objective of the research focuses on the search of

potential Insurance Advisor with special emphasis of KOTAK
Prudential. It will help the company to increase its sales,
which is prime objective of the company at this time. The
research attempts to generate an awareness among the
people of Lucknow regarding the agency of KOTAK
Prudential.

55
METHODS

PRIMARY DATA
Data collection of this research was done primarily through
filling up of questionnaires. The sample for the research
including different individuals of various age groups and
having different profession and qualification. Data was
collected through the interview of individuals. The
questionnaires was containing questions regarding the
personal details of individuals and then some light question
regarding their primary knowledge related to private
insurance companies. Then there were questions related to
their interest in being the Insurance Advisor of the company.

SECONDARY DATA
A large amount of secondary data has been collected from
secondary sources. Some of the sources are:-
♦ Report on Insurance sector of India.
♦ Articles from newspapers and magazines.
♦ Various web sites of the insurance companies and
related sites.

DATA ANALYSIS
There are some features of analyzing data that need to be
borne in mind when choosing the method for analyzing the
research. The questionnaires were prepared to explore the
psychology of individuals about being associated with Kotak

56
as insurance advisor and to help the company grow by
increasing its sales. Instead of testing a hypothesis, a
qualitative analyst may demonstrate evidence showing that a
theory, generalizing, or interpretation is plausible.

SAMPLE SIZE
Various area of Lucknow were covered in order to fill the
questionnaire. I interacted with 111 individuals in order to
know about their interest of being Insurance advisor of
KOTAK Prudential.
Sample Size – 111

SAMPLE COMPOSITION
I. Youth
II. Executive
III. Serviceman
IV. Business person

RESEARCH DESIGN
A research design provides the frame work to be used as a
guide in collecting and analyzing data.

Descriptive Research: Market survey is one of the best

examples of descriptive research. This is a one shot
research study at a given point of time, and consists of a
sample of the population of interest. Its advantages are that it
gives a good overall picture of the position at a given time. It
can cover many variables of interest, and is not affected by

57
the movements of elements in the sample, because other
elements can be substitute for them.

FINDINGS
⇒ People are becoming more and more money conscious as
I find very less person who doesn’t want to earn extra
money.

⇒ People are very much aware of Kotak among private

companies as they respond me first name of Kotak and
then others.

⇒ The overall scenario is that still people trust on LIC more

than any other insurance company. Some time when I
asked someone to become an advisor of Kotak they
misunderstood with LIC. For them still life insurance means
LIC.

⇒ Generally people are having leisure time of around 2-3

hours and still want to utilize this time to earn extra money,
if they can.

⇒ Contrary to the prior thinking most of the people don’t

hesitate in doing field work a roaming in the market for
money. They know that without hard work they can’t earn
money.

⇒ There were many respondents who were not interested in

attending seminar conducted by Kotak in their office,
because of low awareness of private insurance company.

58
 SUGGESTIONS AND
RECOMMENDATION
• Need to create and effectively deploy differentiated

strategies in finding out more resources to recruit

insurance advisors.

• Right prospects identification and thus segmentation,

which need to be appropriate.

• Design and manage sales force, which yields high

performance. More training of the employees can be done

so that they produce best result.

• Recruitment process needs to be slightly fast, so that

prospects can retain some confidence as in starting.

• Need to create better, differentiated detailed brochures for

advisor’s recruitment.

• Increase advisors sales force quality as well as quantity by

employing some HR professional, who time to time take

some action for the improvement of insurance advisors.

• More advertising strategies should be taken to grasp the

attention of those people who want to become insurance

advisors.

• Make use of internet banking for increasing sales and also

for promotion.

59
 • There should be more incentives to insurance advisors

they are the backbone of the company in order to increase

sales they have to do mare efforts than others.

Generate some innovative and alternative channels of

distribution, using the sources that can straight play with the

emotion of the person and influence so high that it forces the

human being to go for insurance and that to willingly. Recruit

those individuals that really want to take this job as a challenge.

60
IMPORTANCE OF ADVISORS IN AN INSURANE

COMPANY

In the insurance industry the sales team following the typical

organization structure:
Hierarchy in Insurance Company

SALES
MANAGER

AREA SALES AREA SALES AREA SALES

MANAGER MANAGER MANAGER

UNIT UNIT UNIT

MANAGER MANAGER MANAGER

ADVISORS ADVISORS ADVISORS

The sales team comprises of the Sales Manager superior to Area

Sales Manager, These ASM’s (Area Sales Manager) have their
own individual team of Unit Manager and in turn Unit Managers
their own team of financial advisors.

Each team of ASM’s competing with each other in surge of

achieving targets; each Unit Manager depends on their Advisors
for their business. So what’s the use of unit manager, why are

61
they getting paid? There work is to manage their team of
Advisors, extend them support in what ever way possible
including regular training of products, closing big calls, database
management.
But it is the advisor that carries the flag of the company in the
market; they bear the brunt in the field. They represent the
company in the market to the customers, so nobody can deny the
importance of Advisors in the whole system.
They providing the company with the business and help their
respective Unit Manager to achieve their targets. So a unit
Manager has to be really careful while recruiting their Advisors.

The most important responsibility is to achieve the first P or

Production growth it’s what staying in Business requires of an
Kotak Manager. Part of this growth is accomplished by improving
the productivity of the existing agency member. However,
bringing sufficient number of high quality new producers in to
your sales organization each year is an absolute must.
During the year of appointment, new Advisor usually account for
a relatively small proportion of the organization’s total
production. These points to a particularly significant fact, one
that causes to have a natural tendency to neglect the recruiting
responsibility. It is simply this – the penalty for not recruiting, or
for inadequate recruiting, is a differed penalty.

Nonetheless, the penalty will be realized in due time. Again, the

number one job is to achieve consistent production increases.
The most promising means of successfully getting this job done
is to induct a sufficient number of quality advisors each year.
The most promising means of achieving profitable production
growth lies in your sales organization’s capacity to give policy
owners good counsel and prompt, courteous serves –to give
them value for premium paid. The best guarantee of having that

62
capacity comes from retaining large number of productive
advisor, In turn retention and productivity of advisor in your
organization depends largely on the quality and quantity of your
recruiting efforts.
Consequently, the development needs of your sales organization
call for successful recruiting. It’s a necessity. The induction of a
sufficient quantity of high potential advisor results in substantial,
steady growth in production. This is why manager who move to
the top of Kotak honor roll and stay there are always found to be
manpower-focused.
Before we move to the “how to” of recruiting, let’s consider some
important philosophies relative to recruiting.

63
 FIVE PERSISTENT CONCERNS:

As an Kotak Manager, you are fully committed to building a

high performing, growing agency. This being true, it follows
those five concerns must be constant in your annual
planning.
 The SEARCH for talent
 The EVALUTION of potential advisors
 The ATTRACTION of advisors
 The RETENTION of advisors
 The PRODUCTIVITY of advisors

Any manager who attains satisfying results in these five

areas will enjoy
 Satisfying sales results
 Outstanding persistency of business
 Superior policy owner service capabilities
 An enviable reputation as a Kotak agency builder
 A momentum which comes from the synergistic benefit
of success

OBVIOUSLY, THE FIRST THREE CONCERNS SEARCHING,

EVALUATING AND ATTRACTING-ARE VITAL:

The other two concerns, the retention and productivity of advisor,

must e considered together. To attain success might be achieved
in either area without total or real benefits to the agency, the
company or the client. There is nothing short-term or temporary
about the challenge connected with these recruiting concerns.
They are constant. They are eternal.

64
CHART SHOWING HOW TO GET POTENTIAL
ADVISOR:
PUTTING IT SIMPLY IN A FLOW
SEARCH
Where to look for

ATTRACT
How to attract to life Insurance

EVALUATE

How to evaluate

PRODUCTIVITY

RETENTION

65
 THE BASICS

The basic principal is involved in getting the recruiting job done

successfully and consistently. It is, of course, the one job must
not delegate.

 Philosophy of high standards

Philosophy of high standards and a success syndrome is the

central point of maintaining high standards. The presence of
successful, high-performing Advisors in your organization
attracts more of the same. A recent study revealed that nearly
one-half of these individuals choose an insurance career
because a successful advisor influences them. Our experience at
Kotak supports this conclusion.

 Atmosphere of Success

Ideally, as prospective Advisors enter your office, they should

find themselves surrounded by an atmosphere of success. They
should see evidence of a positive and dynamic environment.
They should be aware of high quality men and women – high
standards of production – high standards of the office neatness
and arrangement – high standards of income – high standards of
business management. They should be made to feel to, taste it
and senses it. As a result, they will have a natural inclination to
become a part of the winning sales organization you building.

There is no question about it – it’s always easier to recruit

successfully in an organization that is on the move. You must
contribute to an environment where things are obviously

66
happening – one that has an atmosphere of success. This is the
starting point if you are going to attract high – potential advisors.

 Attraction Power

Second, Work at developing your “Attraction Power”. Strive to be

the kind of person you want other to be. Be kind other want to
emulate. You’ll have taken a giant steno toward being an
effective recruiter when you do.

Be especially consociation about your appearance. You can’t

judge a book by its cover is a well-worn and accepted adage.
However, most prospects and prospective advisors don’t believe
it. They judge you by your overall appearance. Also, work
consistently at doing the thing, which will cause you to be known
for what you know. An active Involvement in social and civic
organization will assist you in letting your reputation precede
you. You’ll have taken another step toward being an effective
recruiter when you do these things.

 Decide on the profile of the adviser

Next, decide on the profile of the adviser who will fit and grow
best in your operation – the kind of person you can develop best.
Experience, age, market, contacts, income requirements, and a
number of other factors should be considered in answering the
big question – what kind of an advisor is best suited for you and
your organization.

67
  Constant need of advisors at KOTAK Prudential

Remember the need of quality advisors never diminishes at

KOTAK Prudential. It continues in to the future as far as you can
see.

 Thread of discount (TOD)

Fifth, be reminded that there is no large, ready supply of high

potential candidates who are discontented with their present job.
However, things do happen in individual’s jobs, their lives or their
family situation, which can cause them to become prospects for
you – some times, almost overnight. When the thread of discount
surfaces, be sure they are thinking of you and the KOTAK
Prudential.

 Success determined by past performance

Sixth, most successful advisor are highly competitive and

generally come into our business from jobs where there success
is determined by their performance. Consistence search for
prospective advisors among coaches, commission sales people
and individual who have been in business for themselves.

 Build a weekly recruiting success formula

Finally, build a weekly recruiting success formula. Our statistics

show that to recruit one person, you’ll probably need at least 30
initial contacts. This will gives you seven people who will pass
the selection test. This is turn develops two advisor you will
appoint. Understanding these ratio enable you, emotionally and

68
physically, to plan and achieve the necessary activity to reach
your recruiting goal each year.

RECRUITING SUCCESS FORMULA

Study Exhibit 2, recruiting success formula. Develop your
numbers. This strategy will help keep you focused on your
number one job – recruiting enough of the right kind each year.
Recruiting success formula

30 CONTACTS

8 FOR INTERVIEW

2 SELECTED

Before we move on to searching it is important to know the

profile of the adviser.

The general profile would be:

 Age 25-45 years

 Smart appearance and should health
 Good market
 High IQ and common sense
 Ability to work under pressure
 Prior sales experience
 Integrity and character
 Money motivation
 Drive and ambition

69
STRATEGIES INVALVED IN SEARCHING
POTENTIAL ADVISORS

Searching for high – potential prospective advisor

Your search for prospective advisors must be continuous and

systematic – just like prospective for sales, you must search
among several sources on a regular basis sources are broadly
classified as primary source and secondary source.

 Personal observation

This method of uniquely personal. It permits you to apply your

own standards and exercise your own judgment.

Always be on the alert for prospective adviser in your daily

selling activities in instinctively apprises as prospective advisors
those you see, meet or sell. Stay in circulation and meet a lot of
people on a regular basis. Develop these individuals as friends
and clients, and then determine whether or not to recruit them.

 Present advisor recommendation

No one knows more about the kind of person you seek and the
kind of opportunities you have for the prospective advisor then
the present members of your sales organization. Moreover, they
have a selfish interest in wanting their associates to be type of
person who will reflect favorably on their organization. Many
successful advisors have an ability to attract promising
prospective advisors who can and do succeed.

70
  Client referrals

Clients are readily accessible source of prospective advisor and

referrals. It is safe to assume that client who has relied upon
your agency to handle their insurance are pleased with both you
and your work. Since you have created a favorable impression,
the can picture themselves or others as having the same
success.

Therefore, it is mostly a matter of helping them to help you by

making enquires and asking questions designed to remind them
of names of prospective advisors.

 College campuses

Many high-potential, high quality young people are being

recruited directly from college. Today’s college graduate seems
to be more interested in a meaningful career than most
opportunities offer.

However, some caution should be used in recruited on campus.

The person you seek from college must have exhibited define
leadership qualities and have a history a success. Also most
people in the final year are looking for permanent jobs and might
use this as a atop gap opportunity. While targeting colleges it
might be better to target colleges, which has students coming
from business communities. Also targeting colleges offering
professional courses might not work since most of these students
would be interested in pursuing their respective profession.

71
  Seminars

Seminars recruiting are a resourceful strategy that breaks with

tradition. It makes it possible for the prospective advisor, as part
of a group, to obtain information opportunities in the insurance
business, as part of a group, the prospective advisors feels
comfortable and quickly develops open-mindedness to
investigating the possibility of a career insurance. S seminars
include seminars conducted by the association, doctor’s
seminars, HR professional. These seminars are one way to
reaching out to many people not by making a presentation to the
participants but by also word of mouth since these participants
would like to their families and friends, so also the chain would
continue.

 Newspaper advertisement

Newspaper advertising created considerable activity. It is one of

the fastest ways to get name and talk people seeking a change in
employment. Consider as a “Wholesale Method” of widening your
range of contacts with prospective advisors. Keep in mind that
generally develops “pop-up prospects” that must be screened
carefully.

Realize that valuable time can be wasted interviewing or

qualifying responds who really only job are hunting. - or who are
in need of a job right now. Advanced planning with a definite
interview procedure will keep u from falling into this trap. At
Kotak newspaper advertisements are regular a mode.

72
  Direct Mail

Mass mailing is a system if used can be a very successful tool.

One system is to send letter with reply cards on a regular basis
especially to “centers of influence”. Use list from club, church
and alumni directories. The standards letter should briefly
describe the rewards of a successful insurance sales career. In a
letter of this nature, attempt to arouse the interest of the
individual who receives it in the hope that he or she will be more
receptive to your follow-up. You will want to investigate this
innovation source for producing names of quality prospective
advisors.

A few examples of these COI’s or centers of influence are:

 Doctors
 Lawyers
 Pundits
 Priests
 Chartered Accountants
 Teachers
 NGO workers
 Bankers

The one thing common to all these people is the contacts that the
have and the influence that the have over these contact.

73
To insure a continuous flow of nomination from COI’s, practice
these few basic rules for developing center of influences.

 Keep contacting them on a planned basis. The center that

gives you one name will give you more – if you keep in
touch and ask.
 Report back to your centers. Keep them informed of your
result.
 Eliminate from your list of those centers who do not prove
to be cooperative or productive – or who continually give
names of people needing jobs.
 Maintain visibility. Keep your name in front of them.
 Select your centers with an eye to developing as many
markets as possible.
 Show your appreciation. Let your centers know you
appreciate their help.

74
Pre-Approach letters to Prospective Advisor

♦ Sample one (mass mailer)

Dear. . (use the name)

We at Kotak have a business opportunity to offer. With a rapidly

growing agency force and a business expanding by leaps and
bounds. I am looking at addition in my team. This career offers
potential for unlimited earnings and personal growth.

If you are a person with high energy levels and is looking for
business opportunities to be a successful entrepreneur, here is
your chance!!

I would like to talk to you personally about this fantastic offer for
you. Please call me on. . (Tele. No.)

Thanks and Regards,

Manager

Kotak life Insurance Company Ltd.

♦ Sample two(Employee)

Dear. . (Use the name)

75
In view of the unusual progress made by Kotak life insurance company,
we are planning an expansion in our team of sales professionals.

Your name was referred to me as an ideal candidate for this role. I

would their ore like to present to you an opportunity of additional
income through a business with no capital investment.

I am looking for people who have the drive to achieve vertical financial
growth and want to make their dreams come true.

I’ll be calling you within the next few days to arrange a visit so we can
discuss his important matter in greater details. You can then determine
whether there would be a mutual advantage in furthering our talks.

Thanks and Regards,

Manager
Kotak life Insurance Company Ltd.

76
 ♦ Sample three (COI Priest)

Dear. .: (Use the name)

Many people call on you for counsel and advice. I’m writing you
because some of the problems of these people relate to employment or
business opportunities.

We have an unusual opportunity for people in your community who can

meet our standard and who have the desire to get ahead. The type of
individual who can best fit into our organization has had a few year of
business experience, but has the ability to make the ambition to make
money.

At this time, we are able to offer the right persons an unusually

attractive opportunity. We will give them best type of training for a
profitable career. They will be earning while they are learning our
unique method of clientele building. To help someone whom you know
to take advantage of this opportunity will be a real service.

Please list on the enclosed card the names of the people whom you
wish to recommend.

Thank you.
Respectfully,
Manager
Kotak life Insurance Company Ltd.

77
 ♦ Sample four (Businessman)

Dear. . (Use the name)

We at Kotak – the no. 1 private insurer are offering you an

opportunity to diversify your business and enter the field of life
insurance. We have crossed 1,000 cores in term of our premium
and have sold over 1,000,000 policies.

A client of yours who was very happy with the service levels
maintain by you referred your name to me.

Here is an opportunity for ‘you’ to earn more using your existent

infrastructure and clientele base. This business requires no
capital investment but can offer you high returns.

I would call on you to discuss this ‘high return business’

personally.

Thanks and Regards,

Unit Manager

Kotak life Insurance Company Ltd.

78
WHAT’S IN STORE FOR AN ADVISOR AT KOTAK
PRUDENTIAL?

Being an Kotak advisor can be an enriching and existing career option.

It’s an opportunity to associate with an industry leader, be in touch with
the latest and finest insurance practices from around the globe, and
grow both personally and professionally.

Here are some of the benefits of being an Kotak Life Insurance

Advisor:

 Unlimited earning potential

 A clear career path
 All round support through exclusive advertising, your own in
house consultant, and World-class training.
 A comprehensive benefit package

What does it take to be an Kotak advisor?

At KOTAK Prudential, they believe their Advisors are their

ambassadors to the customers. They are key source of business for
the organization, and are the continuing link with their clients. That is
why, they take a lot of care in recruiting and developing their advisor
force, so that they continue to set higher standards of quality in service
and salesmanship. To cater to the needs of the knowledge-oriented
marketplace, they look for graduates who are service-oriented, good
communicators and enjoy meeting new people. Prior sales experience
is an added benefit.

79
Some of the qualities they seek are:

 Self-motivation
 A master communicator
 A go-getter
 A graduate]

Training

At KOTAK Prudential, they understand the importance of training in a

dynamic business environment. Their advisors go through both generic
and specific, professional programs that help them remain well-
informed and knowledgeable about the company’s product in the
market. There is a further focus on soft skills such as communication,
managing long-term relationships and selling skills, which are very
relevant I a service-driven industry like life insurance.

State of the art infrastructure training facilities coupled with an excellent

faculty, guarantee an exceptional learning environment. For advisor
who might be occupied with their daily business/professional routines,
Kotak also offers convenient training option such as online and self-
learning are also provided by the organization.

A 18-day training schedule covers the mandatory IRDA training

requirement and Kotak product training module. Revision session
ensure that the candidates thoroughly understand the course contents
and are well prepared for the licensing examination. Theoretical
training is interspersed with practical appointment settings with
potential customers, giving advisors a feel of how their business will
work from the very first day. All through, the Unit Manager and the

80
management provide continuous support to the advisors in achieving
independence towards garnering business.
Career
At KOTAK Prudential, career development is emphasized upon from
the very day the advisor joins the system. Though individual meeting
with his or her manager, the advisor can discuss various issues related
to business development and career enhancement. Expectations from
the organization in terms of chalking a career in the insurance industry
are also discussed.
Tiger Team: Kotak offers the “Tiger team” programmer for identified
high potential advisors. Hand picked by the management, these
advisors are placed on fast-track career path and recognized as “Tiger
Trainers”. The advisors can participate in this program, subject to
certain criteria being fulfilled.
Pinnacle Program: Absorption in to the management is another
career enhancement option provided at Kotak through the Pinnacle
Program. This program helps advisors build a full time career as a unit
manager in the organization, offering great potential for managing a
team of advisors and personal development. ‘Fast track Pinnacle’
program is also available to advisors who are able to meet the
performance criteria within the stipulated time.

Rewards and Recognitions

Kotak advisors are constantly recognized and rewarded for their
performance. Numerous contests all year round promote healthy
competition amongst advisors and recognition for their efforts.
Depending on the level of business the advisors achieve in a year, he
or she can become a member of various clubs such as the President’s
club, Kotak Star International and Kotak Star India club. Each of these
clubs have specific performance criteria for qualification and members
of these clubs are entitled to attend seminars held at exotic
international and domestic locations each year. Advisors can also

81
qualify for the renowned MDRT (Million Dollar Round Table), an
exclusive international advisors club.

SOME BASIC MANDATED WHICH

A MANAGER
ANSWERS BEFORE RECRUITING

WHY TO RECRUIT?

♦ Because we are supposed to!!

♦ That’s the way to do this business
♦ More recruits, more active advisors, more BUSINESS!!

WHO TO RECRUIT?
♦ Quality Dep’t. Has given some indicators in terms of what
are the common traits of our successful advisors

The commonalities are

 Age : between 30-45

 Education : Graduate
 Family Income : above Rs. 2 lacs p.a.

♦ This is a broad pointer for us to remember what

are the chances of a person doing good or bad from
looking at his/her profile

♦ Some other pointers from Quality

82
  Successful advisors usually have 2 years of
work exp. In their current profession.
 Small time businessman/entrepreneurs–v.
successful profile.
 Women/housewife are very successful –
However they have not been sustainable over long
periods. They usually have become inactive after 6-7
months of joining. But till the time they are working, their
avg. WAPI & productivity is very high compared to others
 People who are new to city are least probable
to do well.

High probability of success

 Tax/financial consultants, CAs

 Bond/mutual fund agent
 LIC agent-surrogates
 Small business owners

Average profile

 Women
 Student
 VRS/retired personnel

Avoidable profile

 New to city
 Income profile – approx Rs. 1 lac p.a.
 People who do not own their transport

83
THE MOST SUCCESSFUL PROFILE – The person who has
been managed well by you.
Things which you should have while meeting the prospect
 BOP presenter
 Reward points booklet OR take a copy of the catalog from the
website – show the gift, a prospect wouldn’t understand points,
but will value the gifts.
 Advisor manual – can show how the manual can answer many
procedural issues.
 Talk about email ID & tech support – the prospect would like to
know what all ill the company gives.
 My Market 100-show the booklet and stress its importance
 Copy of any certificate – MORT certificate, Sales Champion
certificate etc to show recognition.
♦ Insist on doing the BOP presentation – it gives a
complete picture of what you have to present & answers a lot
of question
♦ Stress on different thing to different profile – change
your proposition as per the customer.
 Women – rewards, - gift items, household goods,
gold
 Young marketing background – career Pinnacle
 Tax/MF/LIC agents – Rewards & Recognition, Star
clubs.
 CAs – foreign trips, preferential treatment in all
aspects, don’t talk about commissions, stress on the extra.
 Small businessman / entrepreneurs – show ROE –
Return on Energy, to the earn the same amount of money
from your business, you would be spending much more time
& energy AND A LOT OF CAPITAL FROM YOUR POCKET.

THE POWER OF RENEWAL COMMSSIONS

84
  Always, always, always stress on the fact that renewal
commissions ARE THE differentiator from every other sort of
business
 Spend lot of time on the Commissions structure given in the
BOP.
 Try to do an example in front of them trying to portray the
commission’s payable for the same amount of business done
every year.
 THE EARNING CALCULATOR WILL BE OF HELP HERE.

RECRUITMENT ACTIVITIES
SOME MORE WAYS ON HOW TO RECRUIT

 Data base attack

 Cold Calling
 RWA activities – tambola or children painting competition – give
real time leads, cost effective per lead.

THING TO CHECK WHILE RECRUITING

 ENERGY, ENERGY….always check the person’s energy levels,

as this career is all about meeting new people, finding new
prospects and more so handling rejection.
 His past/present occupation gives tremendous insight into his
energy levels.
 Show him the path in his current environment how insurance
selling can fit in – lowers the resistance of time availability.
 Check his environment – his family, locality
 Check whether he cam work on his own

85
  Find out if he is looking for money or career – as he can has
both here.
 Always try to meet the person at his residence – check for
locality, his household, standard of living, try to involve the
spouse in the presentation so that they know what they are
getting into.
 ALWAYS check on need for money & a drive to do well in life –
if he has been doing well in life, he will make efforts to do well
with us ask questions about his past, find instances of
accomplishments.
 Keep checking on the pointers & do mental checks list of the
acceptable points.
 Be convinced about the profile and then only go ahead.

PROFILE OF A MANAGEMENT
TRAINEE UNDER THIS PROJECT

Various activities covered under this task:

 Market skimming in search for the best suited profile for

the company.
 Managing the advisors after they join the company.
 Providing support to the advisors.

86
87
 CONCLUSION

For every insurance company life insurance advisors are the life line
and a very huge asset so each company try to recruit and select a
potential force of life insurance advisors because this is the advisors
who generate maximum business for the insurance company.
Insurance advisors provide a very strong support to the insurance
company and do all possible effort to generate huge amount of profit to
the company and for him.

In Kotak recruitment and selection procedure is really very impressive.

By the help of this process, company recruits a very good class of
advisors. A detail study is done before starting the recruitment and
selection procedure that help the company to select the best advisors.
The recruitment, selection and training process of insurance advisors is
a slight long process because of the training provided by the Insurance
Regulatory and Development Authority (IRDA).

Form the detailed study of recruitment and selection procedure of the

insurance advisors I come on the conclusion that it is a very impressive
process carried out by KOTAK prudential. This study helps us to
understand all the possible aspects related to the KOTAK Prudential’s
recruitment and selection procedure.

88
 ANNEXTURE

After collection of data, the analysis of it was done through

graphs.

RESPONSE OF QUESTIONNAIRE
1. What is your full time profession?
a) Business -31 b) Govt. Service -17
c) Private Jobs -42 d) Retired -14
e) Housewife -07

Retir
13%
Business
2. According to you, the purpose of insurance is:

S. No. Govt Service

Parameters Order of preference
a. Pre-mature death 29
b. Living too long 12
c. Private Jobs
Children’s future 33
d. Wealth creation 14
e. Tax saving 23
Retired
Housewife

Private
89
Job
38%
 Tax saving
21%
3. What efforts can be made to bring about more awareness amongst
people?
a) Media Ads - 26 b) Banners - 04
c) Newspaper - 15 d) Agents - 54
e) Event Sponsorship - 07 f) Any Other - 05.

Wealth
creation
13%
Event
Any
Sponsorship
6% Chi
f

90
4. You know how many names of private insurance company?
a) Below 2 - 05 b) Between 2-4 - 61
c) Between 4-6 – 08 d) Above 6 – 37

Above 6
5. You like to work in market/field and want to interact with people?
a) Yes - 47 b) No33%- 64

Between 4-6
7%

91
6. From how many years you live in NCR?
a) Below 6 months - 13 b) 6 months – 1 year - 61
c) 1 year- 2 year - 27 d) more than 2 years - 37

more than 2
years
7.
27%
How many people do you know in NCR?
a) Less than 200 - 27 b) 200-500 - 53
c) 500-1000 - 21 d) Above 1000 - 10

Above 1000
9%

100year-
5 -1000 2 year
19%
20% 92
8. Do you like to earn some extra money?
a) Yes - 87 b) No - 14

No
14%

9. Are you involved in Insurance Business?

a) Yes - 28 b) No - 83

If YES, than answer the following question:

A. Duration of working?
a) Below 6 months – 12 b) 6 months – 1 year - 06
c) 1 – 2 years - 02 d) 2 – 3 years - 05
e) Above 3 years -03

No
7
5%

93
 Above 3 years
11%

B. Annual Productivity given to company?

a) Below 50,000 - 00
2 – 3 years
b) 50,000 – 1, 00,000 - 00
c) 1, 00,000 – 2, 00,000 - 02 d) 2, 00,000 – 3, 00,000 - 02
e) 3, 00,000 – 4, 00,000 - 07 f) Above 3, 00,000 - 17
15%
50,000 –
1, 00,000
1 – 2 years0%
7%
Below 50,00
0%
6 months – 1
year
22%

94
C. In which company are you working?
a) LIC - 16 b) Kotak - 04
c) Other – 08

Other
D. Are you satisfied with your company?
a) Yes - 19 29%
b) No – 09

ICICINo
32%
Prudential
14% 95
If NO, than answer the following question:

A. If given a choice, would you like to become a financial

consultant of Kotak Life Insurance Company?
a) Yes - 55 b) No - 28

No
B. Which age group do you belong?
a) Below 25 - 41
c) 30 – 35 - 09
34%
b) 25 – 30 - 27
d) Above 35 -06

Abo

30 – 35
11%

96
C. Are you married?
a) Yes - 47 b) No - 36

D. What is your Educational Background?

a) 10+2 - 13 b) Graduation - 40
c) Post Graduation - 14 d) Professional - 13
e) Other - 03
No
43%

Ot
Professional 4
16%
97
E. What is your Household income?
a) Below 2 lacks - 53 b) 2 – 5 lacks - 21
c) 5 – 8 lacks - 09 d) Above 8 lacks - 00

5 – 8 lack
11%

F. How much time you provide easily besides your job hours?
a) 0-2 hrs - 22 b) 2-4 hrs - 37
c) 4-6 hrs - 15 d) Time Full – 09

2 – 5 lacks
25% Time Full
11%

4-6 hrs
98
18%
 BIBLIOGRAPHY

BOOK:
MARKETING MANAGEMENT,Dr. S.L
VARSHNEY AND R.L GUPTA, THIRD
REVISED EDITION , SULTAN CHAND AND
SON’S

NEWSPAPERS:-
TIMES OF INDIA

WEBSITES
WWW.GOOGLE.CO.IN
WWW.KOTAK PRUDENTIAL.COM

99