1.1 Background of the Study
Contractual saving institution is the outcome of necessity of people to protect themselves from risk of loss of life and properties. With the act of terrorism and other shocking natural disaster, new emerging challenges have been created and which also focus on reinsurance like as a spider web. Nepalese financial economy is also going towards the insurance to minimize the uncertain risk. Bachelor in Business Administration (BBA) of Tribhuvan University (T.U) has given the platform for the students to choose the organization where their keen interest is. It is a new approach in the academic pursuit with eight weeks period for internship program.
The internship program is aimed at providing practical exposure on the business environment to the students. It also gives the real life lessons ranging from technical skills, behavioral skills and conceptual skills. It generally involves a student working in a professional setting under the supervision and monitoring of practicing professionals. It targets to train and prepare students for managerial functions, develops student’s interpersonal and communication skills by encouraging them to interact with different types of people and situations in the organization.
This internship project report is mainly focused in “administration work” which is concerned about the customer’s service. With a strong determination to provide quality service to people Nepal Life Insurance Company Ltd. gives top priority to the customer’s needs and desires. The major objectives of this report and internship are to gain insight knowledge about the insurance services provided to the customers.
1.2 Objectives of the Study
Internship plays the vital role to gain the practical knowledge and to develop corporate skills. The main objective of this study is to gain sufficient knowledge about the working system of the organization. Thus the major objective of the study is to make familiar with the real work environment and to develop the coping ability in dynamic world environment and be able to tackle the problems arising in the organizations. Apart from this there are many objectives of the report they are: •To be familiar with the corporate culture of the organization •To gain necessary skills to tackle problems
•To know about the process in formation of policy
•To understand the method of policy servicing
•To know the process for loan sanction against policy
In this internship report, the primary as well as secondary information has been used. Both data have equal importance in preparing this report. The following are data as follows: Primary data
These data are collected by observing the working environment of organization. •Met with different agents and had direct contact with them for relevant information. •Informal discussion and interaction with the staff of organization.
•Annual report of NLIC
•Information from website of NLIC
•Publication and journals
1.3.1 Organization Selection
For the completion of internship, Nepal Life Insurance Company Ltd. is selected due its renowned prestige in the market. Organization that helps in learning the various aspects of working environment should be selected, which could build up confidence, develops interpersonal skills and managerial skills. In our country Nepal many people are unknown about the function of insurance company they don’t know that it covers risk with less return as compared to other financial institution. NLIC was the right choice for internee as it has the intern provision also with working environment. Internee is thankful to the college and staff of NLIC, Kamaladi who helped to complete internship successfully.
Regarding the placement, Internee was sent to branch office of NLIC at Kamaladi. During eight weeks period, Intern was placed to Registration, Loan...