Day wise progress report 2.docx - PROGRESS REPORT II Submitted by Soumen Mandal Roll No:18202197 Section:C NAME OF THE PROJECT CONSUMER BUYING BEHAVIOUR

Day wise progress report 2.docx - PROGRESS REPORT II...

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PROGRESS REPORT II Submitted by: Soumen Mandal Roll No:18202197 Section:C
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NAME OF THE PROJECT: CONSUMER BUYING BEHAVIOUR IN LIFEINSURANCE INDUSTRY WITH RESPECT TO INVESTMENT OBJECTIVE OF MY PROJECT: To reach out to customers, through empowered and engaged employees and ditributors facilitated by cutting edge technology, right selling and seamless sevice to meet ever evolving needs.I have to do one market survey on the behaviour of indivisual customers and make them understand of various insurance products .I have meet 100 indivisual clients and motivates them to buy insurance products which will be helpful in their long run future. OPPERTUNITIES: 1. Fast growing economy and increasing per capita income in india. 2. Growing rural and semi urban markets 3. Insurable population. 4. Inflow of managerial and financial expertise from the foreign companies. THREAT: 1. Changing the government regulation and financial crisis like recession . 2. Increase in insurance frauds 3. Still competition in market. STRENGTH: 1. Alliance between IDBI AND federal bank giving a strong brand backing. 2. Huge baskets of product range which are suitable to all age and income groups.
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3. Superior customer service. 4. Strong and well spread network of qualified intermediaries and sales persons. Weakness 1. Lack of awareness about insurance on people. 2. Less penetration in rural market 3. Low customer confidence on private players. 4. Low brand awareness due to lack of advertisement. PROGRESS OF THE PROJECT Day 1 : As per the work assigned by our corporate guide Mr. Avinash Kumar Jalan, Each and every intern has to prepare a prospect of about hundred customers and take their appointments through phone call and visit to the each indivisual client and to convience them about the different policy plans which we learned within the training period, motivate the client to buy one policy under IDBI FEDERAL INSURANCE CO. LTD. As a marketing intern I have the target of one lackh fifty thousands rupees of insurance products for sale. Our company has work from home facility i.e. an intern can work from his or her native location and update about their progress or achievement of the work to the corporate guide. As per the instruction of my corporate guide Mr.Avinash Kumar Jalan sir, I have prepared a prospect of 100 clients and taking the appointments of indivisual client . As per the date and time of appointment I am personally visiting the client and make him
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or her understand about the values and benefits of the life insurance . How much premium has to pay and for what duration. I also make them aware about the maturity period of the policy and the amount of maturity value they will get according to the terms and conditions of our company. I am trying to attract the clients by providing the detailed information of different policy plans through brochure given by our company. I am convincing the client to buy one policy which is suitable for them according to the age of the proposer (who
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  • Winter '17
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