In this project report very well explained the recruitment process and competion in insurance sector in india.
Entry of Private players in Insurance Industry has changed the entire scenario of the Industry. Industry has shown Revolution of 360* starting from 1956. Private players have challenged the LIC and compelled to face the competition. This cut-throat competition has been a boon for customer. He has been more informed and getting better services. Negligence to the Insurance is decreasing day by day. Thus, total scenario of the Industry has changed from as it was in 1956 – a Monopoly Market.
On account of increased competition, companies have to compete to grab the market. Tied channel is perhaps the best alternative to reach maximum target customers. So to have best results companies are required to have best people, who can work for the efficiently and give best results. So, as a result now a days companies have become more choosy in recruiting agents. Effective Sales required to be carried out in a way starting from Prospecting and Qualifying to Follow-up and Maintenance. Each step in effective selling process is required to be taken care. In BHARTI AXA, LAs are trained in such a manner that they are able to carry effective sales process. Sales Managers do them lot of help in this context. They use Need-Satisfaction approach (Mostly) and also formulated approach for this and it works
Contents of Project Report
1. Sector’s Profile
2. Company Profile
3. Executive Training
4. Introduction to IRDA ACT
5. Introduction Insurance Advisor
6. Executive Task Assigned & Achieved
8. Analysis of performance v/s Target
9. SWOT Analysis0
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