4. In Union Budget 2018, government
increased the coverage from 40 per cent
to 50 per cent under Pradhan Mantra
Fasal Bima Yojna
The number of lives covered under Health
Insurance policies during 2015-16 was 36
crore which is approximately 30 per cent
of India's total population
India's leading bourse Bombay Stock
Exchange (BSE) will set up a joint venture
with Ebix Inc to build a robust insurance
distribution network
The Union Cabinet has approved the
public listing of five Government-owned
general insurance companies and reducing
the Government’s stake to 75 per cent
from 100 per cent
Demographic factors is growing middle class,
young insurable awareness of the need for
protection and retirement planning will support
the growth of Indian life insurance.
5. Insuranc
e
71%
5%
4%
6%
14%
Market size of major life insurance companies
Market size
LIC
ICICI
39.4
24.1
7.5 2.3
26.8
0
20
40
60
MOTORS HEALTH FIRE MARINE OTHERS
Market size of general insurance sectors Market
share
6. Company
InformationHistor
y
IDBI Federal Life Insurance company is 3 way Joint
Venture
1. IDBI Bank
2. Federa Bank
3. Ageas
Earlier it was IDBI Fortis but in 2010 the company
was rechristened as IDBI Federal Life Insurance
Company
In the year 2006, IDBI Bank, Federal Bank and Belgian-Dutch
insurance major Fortis Insurance signed a MoU to start a life
insurance company in India
48%
26%
26%
Share
IDBI
FEDERAL
AGEAS
www.idbifederal.co
7. Flow chat of IDBI Federal
License received
from IRDAI
December 2007
1ST Policy sold
March 2008
Achieved break even
within 5 year among
fastest in the industry
March 2013
Record a profit of 80 cr.
March 2014
IDBI Federal crosses
1000 cr. In total business
March 2015
Move to a bigger, modern
office
March 2016
With 1565cr. Premium they
registered 27% growth
March 2017
Source https://www.idbifederal.com/
9. My
Internship
I was placed in IDBI Federal Life
Insurance co. Ltd. In Patna branch
I had appointed as an financial advisor,
They had given me training of their
products (insurance)
There I had to sell insurance and recruit
financial advisor
E
I n a s s o c i a t i o n w i t h a g e a
s
IDBI FEDERAL
10. My
Work
1 Recruitments
Business orientation program (BOP)
We held BOP on every Saturday at 11:00am-
1:00pm, here we called people in our branch
who wants to work as part time or full time.
In this program we shared their JD JS and their
earnings
Use of social media
To add more and more people. I had posted a
status on my LinkedIn, Facebook, and twitter,
and posted a message on WhatsApp group
from we got many call and people came.
11. Campus, institute, college, visited
I had visited 2 institutes, 2 MBA colleges, and
distributed pump late over there, and explain
them about this post.
Distributed this pump late in market by putting
in news paper, govt. and some private office
stick on the wall,
This pump late made by me and I got
appreciation from branch head
12. Retired
persons
Financial advisor post was for everyone, so we
targeted retired person also, I went to Allahabad
bank with reference of branch head, where I got
list of 50 retired person, they have association
for retired persons, (Allahabad bank retiree and
pensionary employees).
I called then and told them to come at our office
for BOP, 33 persons came I explained them
about job, from them I helped 4 person to join
as we see in this picture.
13. BUSINESS TIE-UP
Business tied up with Chartered Accountant
I made a tied up with chartered accountant, 1stly I
recruited him direct as a agency leader, I explained
him that he is CA he entertained many clients for
taxation auditing company formation, and for many
other works.
I told him if he will explain to them about our products
and if any person comes to us for investment then you
will earn a huge amount commission till 35%, he
agreed for business tied up.
14. survey
Sone of the question I asked in my survey form
Source google form
15.
16.
17. Learning
from
WIP
Corporate culture: -
I seen there, every employee was
given equal importance
irrespective of post and
designation.
Corporate governance: -
I understood the meaning of corporate
governance in WIP. Transparency
accountability
Market scenario: -
Market is very much volatile and
dynamic, to do any kind of
business we should understand
our demographic, geographic
psychographic and behavioral
aspect of customer.
Implication: -
I learned the implication of theatrical
parts onto practical problems, every
problem was different from other we
should have different keys for
different problems