Sales Process of Metlife India Life Insurance

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PROJECT REPORT
ON
Sales Process of METLIFE INDIA Life Insurance

SUBMITTED BY

B. Aparna
G. Monika
G. S. Nagendra Rao
R. Krishna Chaitanya

Swathi Thumula
OF

HYDERABAD
INDIAN INSTITUTE OF PLANNING AND MANAGEMENT HYDERABAD
UNDER THE GUIDANCE OF
Mrs Naaz Ansari
(Sales Manager – Metlife India Insurance)
ACKNOWLEDGEMENT

We give my most sincere thanks to METLIFE INDIA INSURANCE, Hyderabad for giving an opportunity to work in this organization.

We would like to express my deepest gratitude and sincere thanks to my Company Project Guide Mr. Naaz Ansari for his valuable suggestions, scholarly guidance, constructive criticism, and constant encouragement at every step of the project

We give my sincere thanks to the Dean Mrs. Shirani Nayar. I am particularly indebted greatly to her.

We feel immense pleasure to thank IIPM Hyderabad for providing a platform to enrich my experience by giving me an opportunity to work on this project.

Finally we would like to thank my family and friends for their loving support and encouragement. We would like to express my deep appreciation for their unstinting patience and understanding.

DECLARATION

We hereby declare that all the information that have been collected, analysed and documented for the project is entirely my authentic possessions. We would like to categorically mention that the work here is not purchased nor acquired by any other unfair means or from any external source. The data and information presented in this report are accurate and updated to the current data, to the best of my knowledge.

However for the purpose of my project, information already computed in many sources has been utilized

* Cover page
*Preface
*Acknowledgement:
*Undertakings
*Contents
*Executive summary
*Introduction to Topic
Aim of Study
Theoretical overview
*About organization
Methodology
Data Presentation & observations
Conclusion & data Analysis
Recommendations
Limitations
*Bibliography
*Annexure

PREFACE
The liberalization of the Indian insurance sector has been the subject of much heated debate for some years. The policy makers where in the catch 22 situation wherein for one they wanted competition, development and growth of this insurance sector which is extremely essential for channeling the investments in to the infrastructure sector. At the other end the policy makers had the fears that the insurance premia, which are substantial, would seep out of the country; and wanted to have a cautious approach of opening for foreign participation in the sector. As one of the rare occurrences the entire debate was put on the back burner and the IRDA saw the day of the light thanks to the maturing polity emerging consensus among factions of different political parties. Though some changes and some restrictive clauses as regards to the foreign participation were included the IRDA has opened the doors for the private entry into insurance. Whether the insurer is old or new, private or public, expanding the market will present multitude of challenges and opportunities. But the key issues, possible trends, opportunities and challenges that insurance sector will have still remains under the realms of the possibilities and speculation. What is the likely impact of opening up India’s insurance sector?

The large scale of operations, public sector bureaucracies and cumbersome procedures hampers nationalized insurers. Therefore, potential private entrants expect to score in the areas of customer service, speed and flexibility. They point out that their entry will mean better products and choice for the consumer. The critics counter that the benefit will be slim, because new players will concentrate on affluent, urban customers as foreign banks did until recently. This seems to be a logical strategy. Start-up costs-such as those of setting up a conventional distribution network-are large and high-end niches offer better returns. However, the middle-market...
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