Post on 10-Apr-2015
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THE 3CETT REPORT ON
Karvy stock broking Ltd..
Submitted To:
M. Srinivas G. A. Narasimham
Company Guide Faculty Guide
Metlife India Insurance INC, Visakhapatnam
Submitted By:
Swagatika Deo
8NBVZ128
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CONTENTS
S. No Description Page No
1 Industry 3 - 6
2 3CETT 7 - 41
a) Company 7 -25
b) Customer 25 - 29
c) Competitor 29 - 32
d) Environment 32 - 33
e) Technology 33
f) Terminology 33 - 41
3 Business Objective 42 - 43
4 SWOT Analysis 44 - 45
5 Who is Who 46
6 About Orientation Program At SIP 47
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INDUSTRY
Broking Insights
The Indian broking industry is one of the oldest trading industries that has been around even before the establishment of the BSE in 1875. Despite passing through a number of changes in the post liberalisation period, the industry has found its way towards sustainable growth. With the purpose of gaining a deeper understanding about the role of the Indian stock broking industry in the country’s economy, we present in this section some of the industry insights gleaned from analysis of data received through primary research.
For the broking industry, we started with an initial database of over 1,800 broking firms that were contacted, from which 464 responses were received. The list was further short listed based on the number of terminals and the top 210 were selected for profiling. 394 responses, that provided more than 85% of the information sought have been included for this analysis presented here as insights. All the data for the study was collected through responses received directly from the broking firms. The insights have been arrived at through an analysis on various parameters, pertinent to the equity broking industry, such as region, terminal, market, branches, sub brokers, products and growth areas.
Some key characteristics of the sample 394 firms are:
On the basis of geographical concentration, the West region has the maximum representation of 52%. Around 24% firms are located in the North, 13% in the South and 10% in the East
3% firms started broking operations before 1950, 65% between 1950-1995 and 32% post1995
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On the basis of terminals, 40% are located at Mumbai, 12% in Delhi, 8% in Ahmedabad, 7% in Kolkata, 4% in Chennai and 29% are from other cities
From this study, we find that almost 36% firms trade in cash and derivatives and 27% are into cash markets alone. Around 20% trade in cash, derivatives and commodities
In the cash market, around 34% firms trade at NSE, 14% at BSE and 52% trade at both exchanges. In the derivative segment, 48% trade at NSE, 7% at BSE and 45% at both, whereas in the debt market, 31% trade at NSE, 26% at BSE and 43% at both exchanges
Majority of branches are located in the North, i.e. around 40%. West has 31%, 24% are located in South and 5% in East
In terms of sub-brokers, around 55% are located in the South, 29% in West, 11% in North and 4% in East
Trading, IPOs and Mututal Funds are the top three products offered with 90% firms offering trading, 67% IPOs and 53% firms offering mutual fund transactions
In terms of various areas of growth, 84% firms have expressed interest in expanding their institutional clients, 66% firms intend to increase FII clients and 43% are interested in setting up JV in India and abroad
In terms of IT penetration, 62% firms have provided their website and around 94% firms have email facility
Terminals
Almost 52% of the terminals in the sample are based in the Western region of India, followed by 25% in the North, 13% in the South and 10% in the East. Mumbai has got the maximum representation from the West, Chennai from the South, New Delhi from the North and Kolkata from the East.
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Mumbai also has got the maximum representation in having the highest number of terminals. 40% terminals are located in Mumbai while 12% are from Delhi, 8% from Ahmedabad, 7% from Kolkata, 4% from Chennai and 29% are from other cities in India.
Branches & Sub-Brokers
The maximum concentration of branches is in the North, with as many as 40% of all branches located there, followed by the Western region, with 31% branches. Around 24% branches are located in the South and East constitutes for 5% of the total branches of the total sample.
In case of sub-brokers, almost 55% of them are based in the South. West and North follow, with 30% and 11% sub-brokers respectively, whereas East has around 4% of total sub-brokers.
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Financial Markets
The financial markets have been classified as cash market, derivatives market, debt market and commodities market. Cash market, also known as spot market, is the most sought after amongst investors. Majority of the sample broking firms are dealing in the cash market, followed by derivative and commodities. 27% firms are dealing only in the cash market, whereas 35% are into cash and derivatives. Almost 20% firms trade in cash, derivatives and commodities market. Firms that are into cash, derivatives and debt are 7%. On the other hand, firms into cash and commodities are 3%, cash & debt market and commodities alone are 2%. 4% firms trade in all the markets.
In the cash market, around 34% firms trade at NSE, 14% at BSE and 52% trade at both exchanges. In the equity derivative market, 48% of the sampled broking houses are members of NSE and 7% trade at BSE, while 45% of the sample operate in both stock exchanges. Around 43% of the broking houses operating in the debt market, trade at both exchanges with 31% and 26% firms uniquely at NSE and BSE respectively.
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Of the brokers operating in the commodities market, 57% firms operate at NCDEX and MCX. Around 20% and 21% firms are solely in NCDEX and MCX respectively, whereas 2% firms trade in NCDEX, MCX and NMCE.
Products
The survey also revealed that in the past couple of years, apart from trading, the firms have started offering various investment related value added services. The sustained growth of the economy in the past couple of years has resulted in broking firms offering many diversified services related to IPOs, mutual funds, company research etc. However, the core trading activity is still the predominant form of business, forming 90%
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of the firms in the sample. 67% firms are engaged in offering IPO related services. The broking industry seems to have capitalised on the growth of the mutual fund industry, which was pegged at 40% in 2006. More than 50% of the sample broking houses deal in mutual fund investment services. The average growth in assets under management in the last two years is almost 48%. Company research is another lucrative area where the broking firms offer their services; more than 33% of the firms are engaged in providing company research services. Additionally, a host of other value added services such as fundamental and technical analysis, investment banking, arbitrage etc are offered by the firms at different levels.
Of the total sample of broking houses providing trading services, 52% are based in the West, followed by 25% from North, 13% from South and 10% from the East. Around 50% of the firms offering IPO related services are based in the West as compared to 27% in North, 13% in South and 10% in East. In providing mutual funds services, the Western region was dominant amounting to 49% followed by 27% from North; The South and the East are almost at par with 13% and 11% respectively.
Future Plans
68% of the firms from the sample have envisaged strategies for future growth. With the middle class Indian investor as well as foreign investor willing to invest in the stock market, majority of the firms preferred expansion of institutional and the Foreign Institutional Investor clients in their areas of growth. Around 84% have shown interest in expanding their institutional client base. Nearly 51% of such firms are located in the West, 25% in North, 15% are from South and 9% from East. Since the past couple of years, India, along with Korea and Taiwan, has been one of the preferred destinations for the FIIs. With corporate restructuring, rising market capitalisation and sectoral friendly
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policies helping the FIIs, more than two thirds of the firms are interested in increasing their FII client base. Amongst these firms, West again has maximum representation of 53%, followed by North with 22%. South has 15% firms and East makes up for 9%.
C0MPANY
KARVY Stock Broking Limited, one of the cornerstones of the
KARVY edifice, flows freely towards attaining diverse goals of
the customer through varied services. It creates a plethora of
opportunities for the customer by opening up investment vistas
backed by research-based advisory services. Here, growth
knows no limits and success recognizes no boundaries. Helping
the customer create waves in his portfolio and empowering the
investor completely is the ultimate goal. KARVY Stock Broking
Limited is a member of: 1) National Stock Exchange (NSE) , 2)
Bombay Stock Exchange (BSE)
SERVICES PROVIDED BY Karvy
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Stock broking services
Depository participant services
Financial products distribution services
Advisory services
Private client group services
Currency derivatives
STOCKBROKING SERVICES
Karvy offers services that are beyond jurst a medium for
buying and selling stocks and shares. Instead it provides
services which are multi dimensional and multi-focused in
their scope. There are several advantages in utilizing our
Stock Broking services, which are the reasons why it is one
of the best in the country.
Karvy offers trading on a vast platform; National Stock
Exchange, Bombay Stock Exchange and Hyderabad Stock
Exchange. More importantly, it make trading safe to the
maximum possible extent, by accounting for several risk
factors and planning accordingly. Thety are assisted in this
task by our in-depth research, constant feedback and sound
advisory facilities. Its highly skilled research team,
comprising of technical analysts as well as fundamental
specialists, secure result-oriented information on market
trends, market analysis and market predictions. This crucial
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information is given as a constant feedback to our
customers, through the following daily reports which are
delivered to them thrice a day;
The Pre-session Report, where market scenario for the day is predicted
The Mid-session Report, timed to arrive during lunch break , where the market forecast for the rest of the day is given and
The Post-session Report, the final report for the day, where the market and the report itself is reviewed.
To add to this repository of information, karvy publishes a monthly magazine called KARVY The Fin polis which analyzes the latest stock market trends and takes a close look at the various investment options, and products available in the market, while a weekly report, called KARVY Bazaar Baatein, keeps customers more informed on the immediate trends in the stock market. In addition, our specific industry reports give comprehensive information on various industries. Besides this, they also offer special portfolio analysis packages that provide daily technical advice on scrip’s for successful portfolio management and provide customized advisory services to help you make the right financial moves that are specifically suited to your portfolio.
Karvys Stock Broking services are widely networked across India, with the number of its trading terminals providing retail stock broking facilities. Karvys services have increasingly offered customer oriented convenience, which they provide to a spectrum of investors, high-net worth or otherwise, with equal dedication and competence.
Over the years karvy have ensured that the trust of their
customers is their biggest returns. Factors such as success in
the Electronic custody business has helped build on their
tradition of trust even more. Consequentially their retail client
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base expanded very fast.
To empower the investor further they have made serious
efforts to ensure that our research calls are disseminated
systematically to all our stock broking clients through various
delivery channels like email, chat, SMS, phone calls etc.
Their foray into commodities broking has been path breaking
and they are in the process of converting existing traders in
commodities into the more organized mainstream of trading in
commodity futures, both as a trading and risk hedging
mechanism
. Depository Participant Servicesthe onset of the technology revolution in financial services
Industry saw the emergence of KARVY as an electronic
custodian registered with National Securities Depository Ltd
(NSDL) and Central Securities Depository Ltd (CSDL) in 1998.
KARVY set standards enabling further comfort to the investor
by promoting paperless trading across the country and
emerged as the top 3 Depository Participants in the country in
terms of customer serviced.
Offering a wide trading platform with a dual membership at
both NSDL and CDSL, they are a powerful medium for trading
and settlement of dematerialized shares. They have
established live DPMs, Internet access to accounts and an
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easier transaction process in order to offer more convenience
to individual and corporate investors. A team of professional
and the latest technological expertise allocated exclusively to
their demat division including technological enhancements like
SPEED-e; make our response time quick and our delivery
impeccable. A wide national network makes their efficiencies
accessible to all.
Financial Products Distribution ServicesThe paradigm shift from pure selling to knowledge based
selling drives the business today. With their wide portfolio
offerings, they occupy all segments in the retail financial
services industry.
A team of highly qualified and dedicated professionals drawn
from the best of academic and professional backgrounds are
committed to maintaining high levels of client service delivery.
This has propelled them to a position among the top
distributors for equity and debt issues with an estimated
market share of 15% in terms of applications mobilized, besides
being established as the leading procurer in all public issues.
To further tap the immense growth potential in the capital
markets they enhanced the scope of their retail brand, KARVY –
the Finapolis, thereby providing planning and advisory services
to the mass affluent. Here they understand the customer needs
and lifestyle in the context of present earnings and provide
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adequate advisory services that will necessarily help in creating
wealth. Judicious planning that is customized to meet the future
needs of the customer deliver a service that is exemplary. The
market-savvy and the ignorant investors, both find this service
very satisfactory. The edge that we have over competition is
our portfolio of offerings and their professional expertise. The
investment planning for each customer is done with an
unbiased attitude so that the service is truly customized.
their monthly magazine, Finapolis, provides up-dated market
information on market trends, investment options, opinions etc.
Thus empowering the investor to base every financial move on
rational thought and prudent analysis and embark on the path
to wealth creation.
Advisory Services
Under retail brand ‘KARVY – the Finapolis', they deliver advisory
services to a cross-section of customers. The service is backed
by a team of dedicated and expert professionals with varied
experience and background in handling investment portfolios.
They are continually engaged in designing the right investment
portfolio for each customer according to individual needs and
budget considerations with a comprehensive support system
that focuses on trading customers' portfolios and providing
valuable inputs, monitoring and managing the portfolio through
varied technological initiatives. This is made possible by the
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expertise we have gained in the business over the years.
Another venture towards being investor-friendly is the
circulation of a monthly magazine called ‘KARVY - the Finapolis'
covering the latest of market news, trends, investment
schemes and research-based opinions from experts in various
financial fields
. Private Client Group Services This specialized division was set up to cater to the high net
worth individuals and institutional clients keeping in mind that
they require a different kind of financial planning and
management that will augment not just existing finances but
their life-style as well. Here karvy follows a hard-nosed business
approach with the soft touch of dedicated customer care and
personalized attention.
For this purpose they offer a comprehensive and personalized
service that encompasses planning and protection of finances,
planning of business needs and retirement needs and a host of
other services, all provided on a one-to-one basis.
Their research reports have been widely appreciated by this
segment. The delivery and support modules have been fine
tuned by giving clients access to online portfolio information,
constant updates on their portfolios as well as value-added
advice on portfolio churning, sector switches etc. The
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investment recommendations given by their research team in
the cash market have enjoyed a high success rate.
Karvy forex and currency derivatives
Karvy Forex & Currency Private Limited (KFCL) is another business enterprise of the prestigious Karvy group. Having laid a strong foundation in Indian financial services, it is indeed a pleasure for the Karvy group to venture into the currency derivatives segment. This enables us to provide extended services to our esteemed customers, thereby making the group a single window for all financial services.
KFCL offers advisory and brokerage services for the Indian currency derivative markets. We provide online trading platforms to our clients that enable them to trade whenever they choose while receiving instant professional support ...
FACT SHEET OF MAETLIFE
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Rajesh has twenty years experience in the financial services sector, of which he has spent ten
years in the Indian Life Insurance industry. Visualizing the scope and growth he became a
part of this sunrise industry in 1999, much before it was opened to the private players.
Over these years, he has contributed significantly to the development of the private
life insurance industry through his strategic ideas, understanding of product development and
distribution expertise. He is widely recognized for the pivotal role he played towards three
different life insurance ventures in the country. In the first, he played a critical role as a key
project team member that led to the successful formation of the JV. With the second life
insurance company, a start-up, he was one amongst the first five employees instrumental in
launching and growing its Indian operations. Finally, in his third stint he was entrusted with
the task of transforming another life insurance company, MetLife, of which he is the
Managing Director for India.
Rajesh joined MetLife India in 2006 and has transformed the organization since then. With
exceptional skills in business strategy & planning, Rajesh laid the foundation for MetLife’s
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FACT SHEET
Founded 2001
Started Operations FY 2001-02y
Headquarters Bangalore, India
World Wide Web Address www.metlife.co.in
Managing Director Rajesh Relan
Employees 7688
Financial Advisors 56,072
Bank assurance Tie-Ups 5 (J&K Bank/Axis Bank/Dhanalakshmi
Bank/Karnataka Bank/Barclays)
Number Of Products Over 20 products
Presence Through
MetLife Offices
192 offices in 131 cities
Presence Through Bank
Partners
1910 offices in 686 cities
* All data as on 6th March, 2009
success in the Indian market. Under his able leadership, MetLife today is one of the top three
fastest growing life insurance companies in the country, consecutively for the last 30 months.
The company has more than doubled its market share over the last 36 months and continues
to register positive growth despite the de-growth of the entire life insurance industry over
the last six months.
In his previous role as the Director - Banc assurance and Business Partnerships at Aviva,
Rajesh was responsible for sales, planning and implementation of the Banc assurance and
Business Partnerships strategy. This included path-breaking work done on developing the
banc assurance channel into a sustainable business model for the life insurance industry, a
first in the country. Prior to Aviva, he worked with Old Mutual Plc. and was a part of the
project start-up team.
Educational Qualifications
Rajesh has a Masters degree in Management Studies specializing in marketing
from Narsee Monjee Institute of Management Studies, University of Mumbai
in 1989.
Appointed Actuary: MSVS Phanesh Murthy
Phanesh is the Appointed Actuary at MetLife. He has about 17 years of experience in the
insurance industry. In his current job profile, Phanesh is responsible for the new product
pricing, and is accountable for ensuring compliance with all the relevant regulations. He also
assesses the statutory and GAAP liabilities for the organization. Prior to MetLife, Phanesh
has worked with Tata AIG for 3 years in Product Development, Statutory
Valuation and Business Planning functions. He has also worked with LIC for
about 12 years in various capacities in the Operations, Investments and
Actuarial functions. Phanesh is B.Tech in Civil Engineering and PGDRM
(IRMA), FIA & FIAI. His hobbies are watching movies and reading fiction and non-fiction
books.
Director- Agency: Girish Malhotra
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Girish Malhotra is the Director and Head of the Agency Business for MetLife India. He has
an overall work experience of 16 years. Prior to MetLife, he was with Citibank India for 16
years as the Director Alliance, Credit Cards. Under his leadership, Citibank
Cards became the preferred partner of choice for large consumer
organizations wanting to run credit cum loyalty programs in India. Girish
has also managed to grow the auto finance business in a highly competitive
market with strategies focusing on acquisition cost efficiencies, alternate
channels of distribution and high yielding product mix. Girish is a MBA from an elite
business school. Girish is as an amateur golfer and loves watching movies and reading in his
leisure time.
Director - Financial Planning & Controller: KR Anil Kumar
KR Anil Kumar is the Director - Financial Planning & Controller at MetLife. With over
33 years of experience, KR Anil Kumar is responsible for controllership and planning
function at MetLife. Also being the Company Secretary, he is responsible
for the Company Secretarial matters of the Company. Before joining
MetLife, he worked with Phoenix Global Solutions as CFO and Company
Secretary. His responsibilities therein, included working capital
arrangements and treasury management. He is a B.Sc, A.C.A., A.C.S. His hobbies are
playing table tennis and reading financial and business and political magazines
Chief Administrative Officer: KS Raghavan
KS Raghavan is the Chief Administrative Officer of the Company. In his current role, he is
responsible for the IT, Administration & Infrastructure and Business
Continuity Planning functions for MetLife. Raghavan has been successful in
establishing a full fledged IT function with a strong delivery focus. The
Facilities and Administration team has also successfully supported the
Agency expansion and is currently focussing on renovation of existing offices.
Deputy Director - Corporate Sales & Training : Preetinder Chadha
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Preetinder Chadha is the Deputy Director - Corporate Sales and Sales Training. He has an
overall experience of 14 years and has spent over 6 years in sales in hotels and consumer
durables and 8 years in the sales training. In his current role, he is responsible for the
corporate sales business, which includes institutional business and worksite.
Prior to MetLife, he was with ABN AMRO as Training Head for their
Bancassurance division. Preetinder is a graduate in hotel management from
Pusa Institute of Hotel Management , New Delhi and a MBA from IMT
Ghaziabad. He loves listening to music in his free time.
Director – Business Support : P. S. Sankaran
P. S. Sankaran is the Director – Business Support at MetLife. With over 20 years of
experience, he is responsible for the Legal and Compliance functions, Board Affairs and
relationships with the Reserve Bank of India and IRDA. In addition to that, he
also takes care of Enterprise Risk management and Internal Controls. Prior to
MetLife, he has worked with Aviva as Chief Relationship Manager. Sankaran
is B.Com in Advanced Currency & Banking from Madras University and
M.Com in Cost Accounts
Director- BA & BP : Sameer Bansal
Sameer Bansal is the Director - Bancassurance & Business Partnerships. With over 10 years
of experience, Sameer handles sales, project management and new business development
through banks and business partners. Prior to MetLife, Sameer was the head of
Bancassurance for Bharti Axa Life Insurance for over a year. He has also
worked as the Regional Head of Aviva BA&BP team and also had a stint
with HDFC Bank. He is B.E.-Electrical and Electronics and MBA with dual
specialization in Marketing and Finance from IMI Business School, New
Delhi. His hobbies are watching movies and traveling.
Director - Marketing & Strategy: Vijay Raghavan
Vijay Raghavan is the Director - Marketing & Strategy at MetLife. In his current role, Vijay
is responsible for the brand management, advertising and channel marketing, corporate
communications, government relations as well as product development. Vijay established the
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SIBT (Strategic Initiatives & Business Transformation) function at MetLife encompassing
the Program Management Office & other sub functions to envision, coordinate and manage
the major organizational initiatives. Prior to MetLife, he has worked as Principal – Strategy
Consulting at Wipro Consulting, Europe. Vijay has also served with the Indian Air Force.
Vijay is B.Tech in Electronics & Communication and M.S. in Software Systems from Birla
Institute of Technology & Sciences, Pilani and a MBA in Marketing Technology Leadership
& Change Management from Indian School of Business, Hyderabad.
CORE VALUES
We lead through Innovation to offer world class and competitive products to our
customers
We build Long Term Relationships with our customers by creating a world class
service experience through operational excellence and the innovative use of
technology
We create a Customer Centered and Result Focused Vision that inspires each one of
our Associates and has their buy-in
We are committed to creating a High Performance Organization by creating an
environment that allows each one of our Associates to perform at their peak. As a
result we will also be recognized as an Employer of Choice
Vision and Mission
Build financial freedom for all through leadership in providing financial advice and
building long-term relationships through innovative protection, accumulation and
retirement products, robust underwriting processes and creating world-class customer
service experience for our customers.
We want to provide customers in India with world-class solutions for financial
security, and in the process add significant value to our shareholders, associates and
society.
Corporate Partners
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As the vital channel for MetLife’s products, we have chosen some exemplary banks and financial
institutions. These will serve as the interface between our customers and us to aid us understand the
unique needs and aspirations of every Indian. And update our products with features that form the
cornerstones of financial freedom.
Axis Bank was the first of the new private banks to have begun
operations in 1994, after the Government of India allowed new private
banks to be established. Axis Bank is one of the fastest growing
private sector banks in the country. The Bank has strengths in both
retail and corporate banking and is committed to adopting the best
industry practices internationally in order to achieve excellence.
Axis Bank is one of the few banks in India that have built up a fully
integrated centralized banking architecture to offer banking services
anywhere, anytime. At the end of March 2008, the Bank increased its
reach to 433 cities, towns and villages across the country through 713
Branches & Extension Counters and 2904 ATMs. The Bank offers a
complete range of retail and corporate services, including retail loans,
corporate and business credit, foreign exchange and trade finance
services, investment banking, depository services and investment
advisory services. Their deposit base as on 30th June 2008 stands at
Rs. 88,973 crores with over 85 lakh [8.5 million] accounts.
Axis Bank is uniquely positioned to harness the high growth
opportunity in India. Axis Bank has always endeavored to bring a
sharper focus to the requirements of their customers and strived to
leverage cutting-edge technology to provide the highest levels of
service to them. The Bank has customized offerings for various
segments: Priority Banking: For High Net Worth Customers
Senior Privilege: For Senior Citizens
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Smart Privilege: For Women
Salary Power: For Payroll accounts
Power Salute: For Defense personnel
Trusts and NGO
NRI Accounts
Financial Advisory Services
Wealth Advisory Services
Credit Cards: Gold, Silver & first EMV standard based Platinum
Credit Card
Its ATMs, Internet Banking (iConnect) and Tele-Banking are major
steps in the direction of providing anywhere, anytime banking. Its
ATM network is the 3rd largest ATM network in India and it is the
3rd largest issuer of Debit Cards with 86 lakhs [8.6 million] debit
cards having been issued. At present its Internet Banking module,
allows customers to view all accounts with us, including savings,
current and depository accounts, for transactions and balance details,
and to transfer funds between accounts within Axis Bank. It also
provides facilities for bill payments, NRI services, a shopping mall,
financial advice and retail loans
Axis Bank has had sustained growth over the past several years, where
The Bank has grown by over 30% Y-o-Y in 31 out of the last 33
quarters.
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International Footprint
Branches at Singapore, Hong Kong and DIFC, Dubai
Representative office at Shanghai
Total assets under overseas operations amounted to US$ 1.8 billion
Corporate Banking, Trade Finance products, Debt Syndication and
Liability businesses
Barclays is a distribution partner of MetLife India Insurance Co. Ltd.
Barclays unveiled its Global Retail and Commercial Banking division
in India over the past one and a half years as part of its plan to be a
leading global bank. In a very short time, Barclays has established its
presence in one of the world’s fastest growing countries.
The commercial banking division, which had begun operations in
November 2006, services a variety of leading Indian corporations
from large multinationals and public sector companies to small and
medium sector enterprises. It offers loans, deposits, payments & cash
management services, trade finance and treasury solutions.
Barclays' retail banking services were launched in May 2007 with a
suite of products that give our customers better control over their
finances. The offerings include innovative firsts like India’s only 7-
year personal loan, Platinum Debit Card and credit cards that allow
customers to choose their payment date. Another pioneering initiative
and a recent introduction in the market is Barclays Hello Money and
Barclays Premier that brings the concept of designer banking for the
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first time in India. Our offerings have resonated well with the Indian
customers, which has made Barclays the preferred bank in the centers
we are present in.
Barclays is spreading its reach across India and now has 5 offices in
the country. The head office is located in the financial hub of Mumbai
in Western India. The other four cities include New Delhi, India’s
capital, Junagadh, a major trading hub in Gujarat and two key nodes
in South India - Kanchipuram which is near Chennai, and another at
Nellamangala near Bangalore.
Vision
To be the preferred financial services provider by consistently
delivering innovative solutions and a best-in-class customer
experience, and thus become one of India’s top international banks.
Products and services
Retail Banking products:
Savings Accounts
Current Accounts
Term Deposits
Personal Loans
Business Installment Loans
Premier Banking
NRI Banking Services
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Barclaycard
Hello Money – Mobile Banking service
Commercial Banking products:
Loans & Financing
Deposits
Payments & Cash Management
Trade Finance
Treasury Solutions
Barclays recognizes its responsibilities to the communities in which it
operates. We understand how better access to banking can support
wider social inclusion, economic development and growth. Barclays
also believes that tackling financial exclusion provides opportunities
and is about realizing the potential in individuals and creating a
market for the future.
Dhanalakshmi Bank was incorporated on 4th November 1927 by a
group of enterprising entrepreneurs at Thrissur, the cultural capital of
Kerala. It became a Scheduled Commercial Bank in 1977. The 82
years old Bank has today attained national stature with 181 branches
and 26 Extension Counters spread over the States of Kerala, Tamil
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Nadu, Karnataka, Andhra Pradesh, Maharashtra, Gujarat, Delhi and
West Bengal. The Bank serviced a business of over Rs. 61010 million
as on 30.06.08 comprising deposits of Rs. 38290 million and advances
of Rs. 22720 million. At the end of June 2008, the Capital Adequacy
Ratio of the Bank was 17.31% against the mandatory requirement of
9%. During the first quarter of the financial year 2008-09, the Bank
has recorded a net profit of Rs. 9520 million against Rs. 6050 million
of the corresponding period
last year.
The Bank has always been a trendsetter, constantly making pioneering
moves. The Bank has in its books top corporates and blue chips, both
established and emerging.
The Bank is technology-savvy and has deployed technology widely as
an instrument for enhancing the quality of customer service. It has
introduced Centralized Banking Solution (CBS) on the Flexcube
Platform for extending Anywhere/Anytime banking to its clientele
through multiple delivery channels. The Bank has brought all the
branches under the Core Banking Solution and is fully online. The
Bank has set-up a state-of-the-art DATA CENTRE in Bangalore, to
keep the networked system operational 24 hours a day and 7 days a
week.
The Bank lays stress on customizing services and personalizing
relations. It has introduced an International Debit Card through a tie-
up with M/s Visa International. As part of this overall effort, the Bank
has joined CASHNET, the first independent nation-wide shared ATM
network in India, the National Financial Switch (ATM network) of the
IDRBT promoted by Reserve Bank of India and CashTree promoted
by a group of public sector banks. By joining these networks, the
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Bank’s customers are provided access to more than 25,000 ATMs in
the country.
Dhanalakshmi Bank offers Telebanking and Internet banking through
its various branches. The Bank has recently introduced SMS banking
and Email Alerts. Any transaction above Rs. 2000 will trigger an SMS
and an email alert to the accountholder. This product has been widely
welcomed by its clientele across the board.
The Bank has also implemented centralized CMS software by locating
the CMS hub at Corporate Office, Thrissur enabling all CBS branches
to do CMS operations.
The Bank has put in place Real Time Gross Settlement (RTGS)
System and NEFT to facilitate large value payments and settlements
in real time on-line mode on a transaction-by-transaction basis. The
Bank has ventured into both life and non-life insurance business. It is
selling life insurance products of M/s. MetLife India Insurance
Company Private Limited, a renowned global player in this segment
and non-life insurance products of The Oriental Insurance Company
Limited as their corporate agent. The Bank is also a depository
participant of NSDL (National Security Depository Limited) offering
Demat services through selected branches.
With a view to making available value-added services to NRIs, the
Bank has set up NRI Boutiques (Relationship Centers) at a number of
locations in the State of Kerala. The Bank also has plans to open
specialized NRI branches with an accent on quality of service and
thrust on specialization at potential locations. At present, the Bank has
rupee drawing arrangements with 8 Exchange Houses in the Middle
East. For instant fund transfers, the Bank has tied up with UAE
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Exchange and Financial Services (Xpress Money), Wall Street
Finance Limited (Instant Cash), MoneyGram International and Zoha
Inc International. The Bank has introduced ‘Dhanam Express’, an
online money transfer service with Kuwait Bahrain International
Exchange, Kuwait and Al Rostamani International Exchange, Dubai,
the USP of which is ‘credit to any customer of any bank in India.”
The Bank’s Corporate Office, Thrissur and Industrial Finance Branch
at Kochi have been accredited with certification under ISO 9001-
2000.
On the socio-economic front, the Bank is a leading player in
dispensation of Micro Credit among Kerala-based Private Sector
Banks. The Bank has provided financial assistance to almost 500,000
beneficiaries under its micro credit programs. This involvement is part
of the Bank’s objective to act as a catalyst for the economic prosperity
of the country. The Bank has recognized micro finance intervention as
an effective tool for poverty alleviation and has streamlined the
linkage between the Bank and Self Help Groups through its branches.
The Priority sector advances of the Bank as at 30th June 2008 were
much above the mandatory requirement of 40%.
The Bank is managed by a Board of Directors comprising
professionals drawn from various walks of life with Mr. G N Bajpai
(former chairman of LIC of India and SEBI) as the Chairman ably
supported by a core team of professionals.
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Geojit Securities was founded by Mr.C.J George in 1987 as a
Proprietorship for doing Broking business in Cochin Stock Exchange.
In 1994, the business was taken over by Geojit Securities Ltd, a Joint
Venture between Mr.C.J George and the Kerala State Industrial
Development Corporation Ltd. In the following year, the company
came up with an IPO and the shares were listed in various Stock
Exchanges in India in 1995.
Jammu and Kashmir Bank Limited was incorporated on 1st
October, 1938 and commenced its business from 4th July, 1939 at
in Kashmir (India). The Bank was the first in the country as a
State owned bank. According to the extended Central laws of the
state, Jammu & Kashmir Bank was defined as a govt. Company
as per the provision of Indian companies' act 1956. In the year
1971, the Bank received the status of scheduled bank. It was
declared as "A" Class Bank by RBI in 1976. Today the bank has
more than 500 branches across the country and has recently
become a billion Dollar Company.
Profile
Incorporated in 1938 as a limited company.
Governed by the Companies Act and Banking Regulation Act of
India.
Regulated by the Reserve Bank of India and SEBI.
Listed on the National Stock Exchange (NSE) and Bombay Stock
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Exchange (BSE)
53 per cent owned by the Government of J&K.
Rated "P1+" by Standard and Poor- CRISIL connoting highest
degree of safety.
Four decades of uninterrupted profitability and dividends.
Unique characteristics: One of a kind
Private sector Bank despite government holding 53 per cent of
equity.
Sole banker and lender of last resort to the Government of J & K.
Plan and non -plan funds, taxes and non-tax revenues routed
through the bank.
Salaries of Government officials disbursed by the Bank.
Only private sector bank designated as agent of RBI for banking.
Carries out banking business of the Central Government.
Collects taxes pertaining to Central Board of Direct Taxes in J &
K.
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Mangalore–headquartered Karnataka Bank, a leading private sector
Bank having a network of 433 branches across 19 States and 2 Union
Territories, is more than 84 years old. The Bank is a technology
savvy, customer centric progressive bank with a national presence,
driven by the highest standards of corporate governance and guided by
sound ethical values. All the 433 branches of the Bank are under the
umbrella of core banking solution.
The Bank has a host of customer friendly deposit and advances
products meeting the varied needs and preferences of its customers.
The Bank offers a plethora of technology driven products like Internet
Banking facility, Demat services, Mutual Fund products of reputed
companies, Life and General Insurance services, Visa enabled Debit
Card with wide acceptability across the globe. The Bank has an
ambitious business turnover target of Rs. 35000 crores for the year
2008-09 with a branch expansion plan to reach the tally of 460
branches and additional ATMs to take the total to 180 by end-March
2009.
In 1982, a group of Hyderabad-based practicing Chartered
Accountants started Karvy Consultants Limited with a capital of
Rs.1,50,000 offering auditing and taxation services initially. Later,
it forayed into the Registrar and Share Transfer activities and
subsequently into financial services. All along, Karvy's strong
work ethic and professional background leveraged with
Information Technology enabled it to deliver quality to the
individual.
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Established in 1921, Mini Muthoottu with an illustrious history of
banking behind them today operates from 75 branches in Kerala and 5
in Bangalore. All business concerns of Mini Muthoottu function under
the strict guidelines set by the Department of Company Law Affairs
and Reserve Bank of India. They also have a certificate of compliance
with the requirements regarding prudential norms from the Reserve
Bank of India. Mini Muthoottu, under the able leadership of its
Chairman, Mr. Roy M Mathew, offers both the resources and
capabilities like any national player coupled with individualized
attention to its customers.
Way2Wealth is a premier Investment Consultancy Firm that has
been launched with the aim of making investing simpler, more
understandable and profitable for the investors. Way2Wealth
brings a wide range of product offerings from Fixed Income
Securities, Life Insurance and Mutual Funds to Equity and
Derivatives (on the National Stock Exchange) for the convenience
and benefit of it customers. Way2Wealth has over 40 easily
accessible investment outlets spread across 20 major towns and
cities in the country.
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CUSTOMERS
It is important for a customer to understand that according to the typical stage of life,
which they are currently in and based upon that their financial needs changes. Therefore, it is
vital for a customer to know about their financial commitments and long term financial need
before choosing a product. MetLife India Private Insurance Company is one of the fast
growing companies in the market. The customers are the most important players to make
MetLife a successful company in the insurance sector. Customers of MetLife India Private
Insurance Company is segmented based on the different age groups.
Ages: 16 to 25 Their Financial Needs
May still have some support from parents
May be saving towards future family needs - say buying home
May be paying off education loans
Likes to spend money
Their Insurance Needs
Life insurance needs are probably zero, as there are likely to be no dependants.
There is possibly a need for savings. Examples:
1. Go on a holiday.
2. Buy a new car.
3. Buy furniture, curtains, carpets etc., for their home.
4. Set up a new house.
5. Buy jewellery.
Ages 25-35 (Married, With or Without Kids)
If they are in this stage, they might be a young professional (married, with or without kids).
Stage Overview
May be married with or without kids
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Probably in debts - (for e.g. home loan)
Earn a moderate income
Has a high expenditure
Not much of accumulated wealth
Need tax planning
Their Financial Status
High expenditure through installment repayments for house, car etc.
Worried about protecting dependants in case of death or prolonged illness or
disability
Need to save for children for their education, marriage etc.
Need to support elderly parents
Need for planning a comfortable retirement phase.
Their Insurance Needs
This stage calls for maximum Insurance Protection because of the following reasons:
High debt, high expenditure phase
Family’s dependency on your income
Low accumulated wealth
Need for planning retirement
Ages 35-60 (Pre Retirement)
Stage Overview
Older, financially independent children
Reduced debts or repaid loans
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Decreased expenditure
Probable period of redundancy
Their Financial Needs
Save for retirement
Enjoy a life time holiday on retirement
Protect dependants financially against your death, prolonged illness or disability
Save for children
Their Insurance Needs
Retirement Planning,
Wealth Transfer or other savings vehicles could be used for this stage of life.
Their emphasis should be on returns on investment - so, with-profit or unit-linked
products would be ideal.
If they are close to retirement, they could also opt for guaranteed products.
Ages over 60 (Post Retirement)
Stage Overview
Need to move from Employment to Retirement
Debts are either paid off or very minimal
Reduced Income
More accumulated wealth / savings
Risk of running out of money, in case of long life spans
Imminent need for long term care
Their Financial Needs
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Need for considerable savings if you live long
Need to save for spouse
Save for medical expenditures - for both self and spouse
Need to save for children
Their Insurance Needs
Protection in case you live long
Protection for spouse in case of death
Wealth accumulation for children
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COMPETITORS
Major Competitors
ICICI Prudential
Met Smart Plus Lifetime Super
Min/Max age at entry 0-70 years Min/Max age at entry 0-65 years
Maximum Age at maturity is 100 years
(offers whole life cover)
Maximum Age at maturity is 75 years
Choice of Sum assured as a age based matrix Not available
Offers wide choice of investment in 6
different funds
Offers only 4 funds
Surrender value is based on First Year
Premium ( hence lower S.V charges)
Surrender Value based on Fund Value
Top-up’s allowed Top-up’s are not available
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LIC India
Met Smart Plus LIC Money Plus
Min/Max age at entry 0-70 years Min/Max age at entry 0-65 years
Whole life plan, offers cover up to age 100 Does not offer whole life cover
Choice of Sum assured as a age based matrix,
5-110 times annual premium
Choice of sum assured is not age based
matrix
Choice of Top-up’s to maximize the wealth
creation option
Top-up’s not allowed
Offers wide choice of 6 funds to match risk -
return portfolio of the customer
Offers only 4 funds
Bajaj Allianz
Met Smart Plus New Unit Gain Super
Min/Max age at entry 0-70 years Min/Max age at entry 0-60 years
Maximum Age at maturity is 100
years ( offers whole life cover)
Does not offer whole life cover Max age at
maturity is 70 years
Choice of Sum assured as a Not available
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Age based matrix
Offers wide choice of investment in 6 funds Has 4 fund options only
Surrender value is based on First Year
Premium (hence lower S.V charges)
Surrender Charges are calculated on Fund
value. Hence the surrender charges are higher
Minor Competitors
AVIVA
Met Smart Plus Aviva Easy Life Plus
Min/Max age at entry 0-70 years Min/Max age at entry 18-50 years
Maximum Age at maturity is 100 years
(offers whole life cover)
Maximum Age at maturity is 60 years
Choice of Sum assured as a
Age based matrix
Not available. Limited to only 10 times the
annual premium paid
Offers wide choice of investment in 6
different funds
Offers only 4 funds
Surrender value is based on First Year
Premium (hence lower Surrender charges)
Surrender Value based on Fund Value (hence
higher charges)
Top-up’s allowed Top-up’s are not available
ING Vysya
Met Smart Plus ING Life High Life Plan
Min/Max age at entry 0-70 years Min/Max age at entry 0-70 years
Max age at maturity is 100 years Max age at maturity is 75 years
Choice of Sum assured as a age based matrix,
5-110 times annual premium
No such options available
Surrender value is based on First Year
Premium (hence lower S.V charges)
Surrender value is based on Fund Value
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Offers 6 funds to invest from Offers 5 funds
Offers 4 free switches Only two switches are free
Max New York Life
Met Smart Plus MNYL Life Maker
Min/Max age at entry 0-70 years Min/Max age at entry 12-60 years
Maximum Age at maturity is 100 years
(offers whole life cover)
Maximum Age at maturity is 70 years
Choice of Sum assured as a Age based matrix Not available
Surrender value is based on First Year
Premium (hence lower S.V charges)
Surrender Value based on Fund Value
Wide choice of 6 funds 4 funds option
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ENVIRONMENT
There are two type of environment that is:
a) Micro Environment
b) Micro Environment
Micro Environment
Employer and employee relationship is very good
All the level of employees are allowed to participate in decision making
FA’s are also allowed to be in contact with the higher authorities
Recognition is not biased
High level of interaction between employees
Macro Environment
It is one of the best professionalized companies
Company provides good benefit to the employees as well as customers
The products and plans that are offered by the company are very good and beneficial
to the customers
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As the market share of the company is increasing day by day it shows a positive
environment
TECHNOLOGY
With the advances in technology, the company has also adopted and adapted to automated
operations and maintenance. All systems are interconnected and communicate via an Intranet
connected to a central server which provides data to all clients respectively. Central data
storage in this format enables availability of data throughout. Lotus Notes is software for
configuring internal mails and to communicate. A central Z folder is created and maintained
and the data in this folder is available and can be accessed from any part of the world.
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TERMINOLOGY
Age limits
Any life insurance policy has minimum and maximum ages, below and above which the
insurer doesn’t accept applications or renew policies.
Annuity Plans
These plans provide for a “pension” to be paid to the policyholder or his spouse starting at a
pre-determined date. At the end of the tenure, you start to enjoy a regular pension amount till
the end of either’s lifetime. In the event of death of both of you during the policy period, the
next of kin get a lump sum amount. You can also have the flexibility of choosing a mix of a
lump sum money back amount and pension under these plans.
Assignee
Assignee is the person to whom the benefits of a life insurance policy are assigned.
Assignor
Assignor is the person who holds the right/title of the policy and it’s he/she who can make a
valid assignment.
Applicant / Proposed
The person whose life is proposed to be insured in the application for life insurance and who
becomes the legal owner of the policy, after it is issued.
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Assured / Insured
It is the person, whose life is insured i.e., upon whose death, the death benefits are payable
under a life insurance policy. When the policy is on one’s own life, the policy owner and the
insured is the same person.
Beneficiary
Beneficiary is the person(s) or entity(ies) (for e.g. corporation, trust etc.) who is named in the
policy as the recipient of insurance proceeds upon the death of the insured.
Bonus
Bonus is the amount added to the basic sum assured under a participating life insurance
policy.
Contracts `uberrimae fides’
All Life Insurance Contracts are based on utmost good faith reposed by the Insurer on the
facts mentioned in the Application Form and all other documents annexed to the application
on the Insured’s health, which the Applicant warrants to be true. Hence, all Life Insurance
Contracts are `uberrimae fides’.
Claim Amount
It is the amount payable by the Insurer to the Insured/Beneficiary in the event of a claim
arising.
Death Benefit
This is the payment made to the beneficiary of a policy upon the death of the insured person.
Deferment Period
Deferment period is the period that lasts from the date of commencement of the policy to the
date of commencement of risk on the child’s life. This is valid under a Children’s Deferred
Endowment Assurance Policy. During this period, premiums need not be paid.
Deposit Term Insurance
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This is a form of Term Insurance in which the premium paid in the first year is more than the
subsequent premiums. As the name suggests, this doesn’t involve a “deposit”.
Endowment Policy
Under the Endowment Policy, the assured is bound to pay an annual premium, which is
determined on the basis of the assured’s age and the term of the policy. And the insured
amount is payable by the Insurer at the end of a specified number of years or upon the death
of the Insured, whichever is earlier.
Face Amount
Commonly used to refer to the principal sum involved in the contract. The actual amount
payable may be decreased by loans or increased by additional benefits payable under
specified conditions or stated in a add on benefit.
Free Look
Provision required in most states whereby policy owners have either 10 or 20 days to
examine their new policies at no obligation.
Group Insurance
Under a single Group Insurance Policy, a number of people could be insured. This is usually
the case of companies, where the employer insures all its employees under one policy.
Guaranteed Addition
This is a benefit by which certain amounts are added each year to the basic sum assured and
are payable at the time of, on admittance of a claim. These amounts are calculated at a rate
per every thousand of sum assured and are valid only for each year for which premiums are
paid.
Insurability
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All conditions pertaining to individuals that affect their health, susceptibility to injury and life
expectancy are taken into account to arrive at the individual’s risk profile – and thereby the
insurability.
Insurable Interest
This is measured by the loss, which the Policy Owner would suffer on the unfortunate death
of the Life Assured. When a Policy Owner insures his own life, it is presumed that there is an
unlimited insurable interest.
Keyman Insurance
This is a policy taken by an employer on the lives of its important employees, on whose life
the business is dependent upon.
Lapsed Policy
A policy, that has been terminated due to non-payment of premium dues and hence is no
longer in force.
Life Assured
This refers to the person whose life is being insured.
Loyalty Additions
Loyalty addition usually, is the difference between the performance of the Insurer (business-
wise) and the guaranteed additions that the Insured enjoys. It usually is a small percentage of
the sum assured and is given when the policy matures.
Maturity
This is the date upon which, the face amount of a life insurance policy is paid to the policy
holder – that is, if the policy hasn’t been previously invoked to cover contingencies like death
etc.
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Maturity Claim
The payment due to the policyholder at the end of the stipulated term of the policy is called
maturity claim.
Nomination
An act through which, the policyholder authorizes another person to receive the maturity
claim. The person who is authorized, is called the Nominee.
Policy
This is the legal document that details out all the conditions of the insurance contract between
the Insurer and the Insured.
Policy Period
This is the time period during which the Policy is in force and the protection cover is valid.
Premium Notice
This is the notice that informs the Insured about the premium due. And is sent by the Insurer
or one of its agencies to the Insured. This is also termed as Renewal Notice.
Paid-up Value
Paid-up Value is the reduced amount of sum assured paid by the Insurer, in case the Insured
discontinues payment of premiums. This is applicable only when the Insured has paid the
premiums in full for the first three years.
Premium
The payment, or one of the regular periodic payments, that a policyholder makes to an
Insurer in exchange for the Insurer's obligation to pay benefits upon the occurrence of the
contractually-specified contingency (e.g., death of the policyholder).
Reinstatement
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A lapsed policy can be reinstated to in-force status after expiration of the grace period which
the Insured enjoys to pay premiums. The Insurer has the privilege to deny reinstatement
depending on the insurability of the Insured. Moreover, this will also necessitate the Insured
to pay up the total amount of the past premium, due.
Risk
This is the obligation assumed by the Insurer when a policy is issued. The process of
evaluating and selecting risk is known as underwriting.
Rider
A provision attached to a policy, that adds benefits not defined in the original policy and
customizes the policy for the individual’s needs.
Rebating
All or part of the commission earned by the Insurer’s agencies being passed on to the
prospect as an inducement to buy or renew a policy. Under law, rebating is strictly prohibited.
Reinsurance
This is a method by which the Insurer transfers the risk under a High Sum Assured Policy to
another entity (who will be called the Reinsurer) on payment of a Reinsurance Premium.
Renewable Term Insurance
The policyholder has the option of renewing a Term Insurance at the end of a term without
evidence of insurability. This is usually applicable for a limited number of successive terms.
Solvency Margin
It is the net worth of an Insurance Company usually calculated by the excess of assets over
the amount of liabilities (which includes policy liabilities also).
Suicide Clause
The clause in the Insurance Contract that defines that no death benefits will be payable by the
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Insurer, in case the Insured commits suicide during a specified initial period, usually in the
first year of the policy.
Sum Assured
This is the amount that the Insurer agrees to pay the Insured/Nominees on the occurrence of a
contingency (e.g., death) or on maturity.
Surrender Value
A policyholder has the option of canceling his policy with the Insurance Company, provided
premiums have been paid for three consecutive years. And thereby claims a surrender value,
which is usually part of the total sum assured.
Survival Benefit
This is the payment of the sum assured to the Insured by the Insurer through installments.
This usually is the case with a money-back policy where, the Insured enjoys the benefits of
surviving the contingency (e.g. death).
Term
This is the period for which the Insurer provides the Insured with insurance coverage.
Term Life Insurance
A policy, that provides risk coverage for a specified period of time. However, does not build
cash value to the Insured.
Underwriting
Underwriting is the process of selecting and evaluating the risks associated with a policy and
determining the amount and terms on which the Insurer will accept this risk.
Uninsurable Risk
Risks that are not acceptable or open to insurance – usually assessed by the Insurer, are
Uninsurable Risks.
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Void Contract
A contract that is usually drawn up by fraud or providing false details. Under a void contract,
there cannot be any action as no rights or obligations are cast on the parties to the contract
Waiting Period
A specific time that must pass following the onset of a covered disability before any benefits
will be paid under a disability income policy.
Yearly Renewable Term
This is a method of charging premium whereby, the premium paid for each year would
provide insurance coverage for that particular year. This is also known as the Single Premium
basis under Group Policies.
PPT
Premium Paying Term
PPM
Premium Paying Mode
PT
Policy Term
TA
Term Assurance
TROP
Term Assurance with Return Of Premium
AFIP
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Annualized Financial Initial Premium
SA
Sum Assured
TDS
Tax Deductable Source
CT
Coverage Term
REINSTATE
When a policy gets lapsed, it is reinstated by doing necessary medicals
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BUSINESS OBJECTIVES
Generation of Life Insurance Premium worth Rs. 7500 per week
Recruit one advisor per week
Achieve Company Targets
Adhere to stated deadlines
Follow company code of ethics and leverage standards
WEEK
NUMBERTARGET ASSIGNED PER WEEK ADVISORS
WEEK – 1Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK – 2Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK - 3Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK - 4Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK - 5Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK - 6Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK – 7Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK – 8 Generation of Life Insurance Premium worth Rs. 7500 Recruitment of 1
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per week Financial Advisor
WEEK – 9Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK –
10
Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK – 11Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK – 12Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK – 13Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
WEEK – 14Generation of Life Insurance Premium worth Rs. 7500
per week
Recruitment of 1
Financial Advisor
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SWOT ANALYSIS
Strengths
Products of the company.
Accumulation
o Whole Life Policy
Met 100- Limited Pay Whole life Non - Participating
Met 100- Limited Pay Whole life Participating
o Endowment Policy
MET Suvidha
o Money Back Policy
Met Sukh Money Back Non Participating
Met Bhavishya
Multi Purpose
o Met Smart Gold
o Met Easy
o Met Smart Plus
o Met Smart Premier
o Met Smart Plus - Single Pay
o Met Smart Premier - Single Pay
Protection
o Met Suraksha - TROP
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o Met Suraksha - TA
o Met-Mortgage Protector SP/Limited pay(MRTA)
Retirement
o MET Pension - Participating Deferred Annuity
o MET Advantage Plus
Add Ons
o Accidental Death Benefit (ADB)
o Term Rider
o Waiver Of Premium
o Critical Illness
Customer Serviceo Sales representative who cares enough to provide need based advice to
customers.
o Customer Service representative who understands that the people who call him
require sensitivity, as well as prompt attention.
o Product specialists who anticipate changing demographics and financial needs
with products that actually make a difference in people’s lives.
Promotional Activities Brand Image
Weaknesses
There are no promotional activities in rural areas. Late entry in the Indian Market Being a non Indian Company, customers tend to lose faith. Customers are not much aware about the company The mind set of customers that private companies do not provide good returns
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Opportunities
Increasing customer awareness Flexible plans to cover all age groups Change in customer lifestyle Changes in technological environment
Threats
Increased bargaining power Competitors Limited branches.
WHO’S WHO
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AREA MANAGER
[1]
AREA MANAGER
[1]
AREA SALES MANAGER
[1]
AREA SALES MANAGER
[1]
SENIOR SALES MANAGER
[5]
SENIOR SALES MANAGER
[5]
SALES MANAGER
[34]
SALES MANAGER
[34]
ORIENTATION PROGRAM IN SIP COMPANY
A three day training program was conducted and mediated by M.Srinivas (Company
Guide), at MetLife India Insurance Co. Ltd, Visakhapatnam. The training sessions mainly
dealt with preparing the trainees with product knowledge, company exposure, and behavioral
skills. The sessions were very interactive and informative and provided all round support.
One the first day of the training we were informed about the company profile, which included
company market share in India and abroad, its main products, benefit of being part of the
organization, who is the branch head in Visakhapatnam. Then we started with the product
training.
We were trained on the products for three days and the products that were explained were
five. The most important part was that it was just not one side speech or class. We were also
asked to give presentation on what we have learned so far about the products. We were
divided into two teams and were provided with two team leaders from the team. We were
also motivated to do hard work and earn as much can we do and how we can get recognition
in the company as a whole.
It was a session that is going to help us in the whole Internship Program. We were also
addressed by the Area Manager, Mr. Aamir Jhan Khan. He wished us all the best and gave
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ASSISTANT SALES MANAGER
[6]
ASSISTANT SALES MANAGER
[6]
FINANCIAL ADVISORS
[500]
FINANCIAL ADVISORS
[500]
examples of some of the top performers of the last batch. He also mentioned that they have
some high expectations from us. All the words of the Area Manager and Company Guide
were very motivating and knowledge giving. We were asked to be free and were asked to
grab as much as knowledge that we can from this Internship Program in the Company.
It can be concluded that all together the orientation in the company was very motivated and
also knowledge giving, which will surely help us not only in this Internship Program but also
in future life.
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