recuritment and channel development presentation
Transcript of recuritment and channel development presentation
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Recruiting AGENTS AND DEVELOPING THEAGENCY CHANNEL
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INTRODUCTION
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OBJECTIVECustomer & potential agents perceptions
about insurance as a product category.
To study the existing compensation for agentsof Max.
To study the existing channel developmentprocess of MTNL.
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BRIEF DESCRIPTION OF THE COMPANY
Company profile
Product of MNYL
Vision
mission
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RESEARCH METHODOLOGY
Research design
Exploratory & Descriptive research
Sources of data
Primary data sourcesSecondary data sources
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SAMPLING METHODOLOGY
qSampling Technique: Judgemental Sampling
qSample Size: 100
qSampling area: Central Kolkata region
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LIMITATION Due to lack of time we had to be restricted in the
particular area.
We couldnt take any interview of existing agents &
advisors of the company.
Many people were not interested to fill up thequestionnaire.
Regarding the making of questionnaire we were boundto make that questionnaire on the basis of thecompanys selection criteria only. So we were not ableto get more information.
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Mnyl aims to attract and retain thebest talent through : A commission structure which compares with the
best in the market
Expense reimbursement for attending these
training classes Recognition platforms to honour an elite breed
of insurance professionals
Providing our top/long serving agents a
management career opportunity with thecompany
Timely and accurate payments
Advise to save Tax
No retirement a e
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Agents in their 1st 90 days
# of Sales Per Month Survival Rate
31 or More 10 94%22-30 08 85%
16-21 06 60%
09-15 03 27%
00-08 02 04%
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SAMPLE Profile ANALYSIS
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Age wise break up of the sample
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GENDER WISE BREAK UP OF SAMPLE
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interests shown by female group
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Interests shown by male group
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MARITAL STATUS WISE BREAK UP
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Interests shown by Married & unmarriedpeople
Married people Unmarried people
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Availability of job in the present job market
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LEADING INSURANCE COMPANY
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Distribution channel
Start
Name Gathering in P200
Short Listing
Contacting
INTERESTED? no End
yes
Initial Screening
NATCareer Seminar & P200
INTERESTED? no End
yes
Career Interview
FCS
IC-33? noncertified Reappear
certified
Contract with MNYL End
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recommendation
Low awareness about MNYL brand name
Initial fee for agent policy is too high
The registration fee for IRDA is very high
The 15 days fulltime training is become impossible topotential recruits
MNYL can provide some database collected from othersources to the new recruits at least in the first month.
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CONCLUSION
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