At HDFC Standard
Life Insurance, I was assigned with the topic as “Market Research on Financial
Consultant” for my project work. The selection of the topic was in order to
take know how do these companies generates business through them.
Financial
Consultants are those sources of a company who have their own relations and
personal contacts among common public that they use to generate business
through. Company has certain criteria to recruit these Financial Consultants.
The steps are as follows.
·
He should be at least 12th passed.
·
He should complete IRDA training.
·
He should clear the IRDA exam.
·
He should through successfully the exam and
training.
Some other criteria:
- He should have good personal contacts.
- He should have convincing power.
- He should be above 18th year old.
Once he through all these steps of recruitment, he becomes
the legal Financial Consultant of the company and reserve the right to sale the
policy to any prospect client also he is paid the commission a certain
percentage. There are some reward and tour package also.
1.2
REASON FOR SELECTION OF THIS TOPIC:
The financial
sector is one of the booming and increasing leaps and bounce, some of the
experts say only 20% of Indian population is insured which means 80% Indian are
not insured and therefore having a bright prospect of progress of this sector
where I too would like to build my career and be a part of success story.
The Financial
consultants are another channel through which the company sales its policy. It
is really difficult to convince and sale a single policy but since these
consultants have their contacts which they can sale a single policy. Whereas I
found my interest in dealing, interacting and handling a team, because all this
most of time park you in some critical zone which becomes challenge for you and
your responsibility becomes to solve the critical situation or problems.
1.3
IMPORTANCE TO THE COMPANY:
After
interacting with company’s marketing head I got to know that they have many
Financial Consultants but not getting the policies up to the expectations level
of the company. Company is really interested in knowing if there is any mistake
or lacking somewhere in process of recruiting and or the criteria they have
fixed for the recruitment. The ultimate purpose of giving me this topic was to
revise its recruitment policy/process.
