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Recruiting AGENTS AND DEVELOPING THE

AGENCY CHANNEL
INTRODUCTION
OBJECTIVE
 Customer & potential agent’s perceptions
about insurance as a product category.
 
 To study the existing compensation for agents
of Max.
 
 
 To study the existing channel development
process of MTNL.
BRIEF DESCRIPTION OF THE COMPANY

Company profile

Product of MNYL

Vision

mission
RESEARCH METHODOLOGY

 Research design
Exploratory & Descriptive research

Sources of data
Primary data sources
Secondary data sources
SAMPLING METHODOLOGY

qSampling Technique: Judgemental Sampling

qSample Size: 100

qSampling area: Central Kolkata region


LIMITATION
 Due to lack of time we had to be restricted in the
particular area.
 
 We couldn’t take any interview of existing agents &
advisors of the company.

 Many people were not interested to fill up the


questionnaire.
 
 
 Regarding the making of questionnaire we were bound
to make that questionnaire on the basis of the
company’s selection criteria only. So we were not able
to get more information.
 
Mnyl aims to attract and retain the
best talent through :
Ø A commission structure which compares with the

best in the market


Ø Expense reimbursement for attending these
training classes
Ø Recognition platforms to honour an elite breed
of insurance professionals
Ø Providing our top/long serving agents a
management career opportunity with the
company
Ø Timely and accurate payments
Ø Advise to save Tax
Ø No retirement age
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%
SAMPLE Profile ANALYSIS
Age wise break up of the sample
GENDER WISE BREAK UP OF SAMPLE
interests shown by female group
Interests shown by male group
MARITAL STATUS WISE BREAK UP
Interests shown by Married & unmarried
people

Married people Unmarried people


Availability of job in the present job market
LEADING INSURANCE COMPANY
Distribution channel
Start
Name Gathering in P200
Short Listing
Contacting
INTERESTED? no End
yes
Initial Screening
NAT
Career Seminar & P200
INTERESTED? no End
yes
Career Interview
FCS
IC-33? noncertified Reappear
certified
Contract with MNYL End
recommendation
Ø Low awareness about MNYL brand name

Ø Initial fee for agent policy is too high

Ø The registration fee for IRDA is very high

Ø The 15 days fulltime training is become impossible to


potential recruits

Ø MNYL can provide some database collected from other


sources to the new recruits at least in the first month.
CONCLUSION