Final Kotak Mahindra

8/2/2019 Final Kotak Mahindra

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ABSTRACT

The insurance sector in India has come a full circle from being an open competitive

market to nationalization and back to a liberalized market again. Tracing the

developments in the Indian insurance sector reveals the 360-degree turn witnessed over

a period of almost two centuries.

Training is the process of sharpening skills knowledge and attitudes in a particular

domain in strife to achieve perfection in that domain. The training process is carried out

at various levels and across various dimensions. The study titled Training,Development and Recruitment process in Kotak Mahindra Life is aimed to analyze the

training, development and recruitment program as done in the company for employees

and its uniqueness. The whole course of study focus on two levels first is recruitment

process and second training and development process.

The study probes into details of the recruitment process after that training and

development program given to the employees in depth. The chief aim after probing is to

find out the possible pitfalls if any and suggest techniques wherever there is room for

improvement.

The study involved the use of both primary and secondary data and primary data was

chiefly in form of questionnaires and as a result of direct interviews with the trainers.

Secondary data was also obtained from website, journals and magazines. Various

statistical tools were applied through the whole course of study which involved Chi

square analysis, percentage analysis, regression, co-relation etc. The conclusions and

findings hopes to show light to the company for its training in the future.

T.JOHN INSTITUTE OF MANAGEMENT & SCIENCE Page 1


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INTRODUCTION



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INTRODUCTION

The word of Michael Armstrong defines training as the Systematic development of

knowledge, skills and attitudes required by an individual to perform adequately a given

task or job. It is the mechanism which is done to enhance an individuals or teams

skills and make them to work in a better manner. It suggests methods of improving the

efficient and effectiveness of work. For the success of every training program every

employee should be convinced about the utility and effectiveness of the program. Every

successful training program results in improving individual performance which in turn

improves organizational performance. Other than improving performance it also results

in updating employees skills, avoiding managerial succession, retaining and motivating

employees and above all creating an effective and efficient organization. The various

dimensions across which the employees are trained are given follows.

To make the employees understand the company policies and

procedures.

To meet the skill requirements of the job they are given skill

based training.

To improve inter personal skills they are given human relations

training, as all the employees have to interact with their

superiors, subordinates colleagues and other external agencies

and people.

To make the employees get used to the way of tacking problems

which he encounters during the course of work. It can vary from

small operational problems at the lower level to decision making

problems at its highest level.

To perform managerial and supervisory functions which every

employee has to face during the course of his work.



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In the company the training is mainly conducted two levels. Firstly, sales managers are

trained with a view of getting acquainted with the company policies and procedures,

problem solving training and managerial & supervisory training. In contrast the life

advisors are given training for objection handling, to improve their skill in the particular

domain, and human relation training. In the company which is working in the insurance

sector training becomes the back bone of the organization, as the industry is always

trendy and keep on changing. The sales managers and life advisors have to keep

themselves updated in order to keep them ahead in the rat and ct race.

EMPLOYEE TRAINING METHODS: Training methods are mainly classified into

two sectors, on the job training and off the job training. The sub categorization is

mentioned as below.

1) ON THE JOB TRAINING : In this kind of training the trainee is actually

exposed to the actual work situation in the real job environment. The chief

advantage being that trainee gets hands own experience but he is risking himselfand organization highly as an error during the time might make them to pay

heavily for that. In the insurance industry where the customer is the king and no

one wants insurance but every one is need of insurance, a customer once lost

might be lost forever. In on the job training it can be further categorized as

follows.

a) JOB INSTRUCTION TRAINING: Here, the trainee is given clear

instructions by the trainer while on the job and on-site. Any doubts are

cleared immediately by the trainer. Normally a trainer or co-worker acts

as the supervisors.

b) APPRENTICESHIP AND COACHING : Individuals seeking to enter

skilled jobs like carpentry are required to go through a formal training



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program known as the apprenticeship. This period generally lasts from one to

five years. Here the coach acts as the model for the trainee to emulate.

c) JOB ROTATION :In this kind of a training program the trainee is placed

across various jobs in different functions of the organization. This helps the

trainee to get the cross functional knowledge and I turn adds to his flexibility.

This can also help to take away the monotonous nature I doing only one kind

of a job.

d) COMMITTEE ASSIGNMENT :Here a group of employees are given a

real organizational problem and are asked to find out a solution. This can

helps the employees to improve both this problem solving skills and his team

management skill in particular other than interpersonal skill, communication

skill etc.

2) OFF THE JOB TRAINING : In Off-the-job training the disadvantage of On-

the-job training is maid up for, by preventing the employees from the actual

work situation. Here the employees are away from the real situation and his

primary focus is on learning. This is again classified into three categories given

is follows:

a) CLASSROOM LECTURE : This is widely applicable to make the

employee understand the policies and procedure of the organization or

any amendments therein.

b) SIMULATION EXERCISES: Here the trainee is exposed to an

artificial work situation that closely resembles the actual work situation.

c) PROGRAMMED INSTRUCTION: Here the trainee is given a series

of questions after he studies the relevant material for the



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accomplishment of job. After trainee answers he is given immediate

feedback regarding his answer.



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OBJECTIVES



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OBJECTIVES

The study is aimed in realizing various objectives which acts as the goals to be achieved

in the project. The main objectives of the study are mention below.

To thoroughly analyze the training program as conducted in the company, for

the sales managers.

To thoroughly analyze the training program as conducted in the company, for

the life advisors.

To find out the unique features involved in the training program conducted in

the company.

To establish a relation between the performance and training for the sales

managers.

To establish a relation between the performance and training for the life

advisors.

To find out the possible pitfalls if any in the training program conducted in the

company.

To recommend suggestions where there is a scope of improvement in the

company.

To get the first hand experience of conducting a survey and drawing

conclusions and analyzing the data.



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INDUSTRY PROFILE

INDUSTRY PROFILE



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ORIGIN OF LIFE INSURANCE:

Life insurance had its origins in ancient Rome, where citizens formed burial clubs that

would meet the funeral expenses of its members as well as help survivors by making

some payments. As European civilization progressed, its social institutions and welfare

practices also got more and more refined. With the discovery of new lands, sea routes

and the consequent growth in trade, medieval guilds took it upon themselves to protect

their member traders from loss on account of fire, shipwrecks and the like.

Since most of the trade took place by sea, there was also the fear of pirates. So these

guilds even offered ransom for members held captive by pirates. Burial expenses and

support in times of sickness and poverty were other services offered. Essentially, all

these revolved around the concept of insurance or risk coverage. That's how old these

concepts are, really.

Insurance as we know it today owes its existence to 17th century England. In fact, it

began taking shape in 1688 at a rather interesting place called Lloyd's Coffee House in

London, where merchants, ship-owners and underwriters met to discuss and transact

business. By the end of the 18th century, Lloyd's had brewed enough business to

become one of the first modern insurance companies.

In 1693, astronomer Edmond Halley constructed the first mortality table to provide a

link between the life insurance premium and the average life spans based on statistical

laws of mortality and compound interest. In 1756, Joseph Dodson reworked the table,

linking premium rate to age.

The first stock companies to get into the business of insurance were chartered in

England in 1720. The year 1735 saw the birth of the first insurance company in the

American colonies in Charleston, SC.

The 19th century saw huge developments in the field of insurance, with newer products

being devised to meet the growing needs of urbanization and industrialization. In 1835,

the infamous New York fire drew people's attention to the need to provide for sudden



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and large losses. Two years later, Massachusetts became the first state to require

companies by law to maintain such reserves. The great Chicago fire of 1871 further

emphasized how fires can cause huge losses in densely populated modern cities. The

practice of reinsurance, wherein the risks are spread among several companies, was

devised specifically for such situations.

There were more offshoots of the process of industrialization. In 1897, the British

government passed the Workmen's Compensation Act, which made it mandatory for a

company to insure its employees against industrial accidents.

With the advent of the automobile, public liability insurance, this first made its

appearance in the 1880s, gained importance and acceptance.

In the 19th century, many societies were founded to insure the life and health of their

members, while fraternal orders provided low-cost, members-only insurance.

Bombay Mutual Assurance Society, the first Indian life assurance society, was formed

in 1870. Other companies like Oriental, Bharat and Empire of India were also set up in

the 1870-90s.

It was during the swadeshi movement in the early 20th century that insurance

witnessed a big boom in India with several more companies being set up.

As these companies grew, the government began to exercise control on them. The

Insurance Act was passed in 1912, followed by a detailed and amended Insurance Act

of 1938 that looked into investments, expenditure and management of these companies'funds.

By the mid-1950s, there were around 170 insurance companies and 80 provident fund

societies in the country's life insurance scene. However, in the absence of regulatory

systems, scams and irregularities were almost a way of life at most of these companies.

As a result, the government decided nationalize the life assurance business in India.

The Life Insurance Corporation of India was set up in 1956 to take over around 250 life

companies.



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For years thereafter, insurance remained a monopoly of the public sector. It was only

after seven years of deliberation and debate - after the RN Malhotra Committee report

of 1994 became the first serious document calling for the re-opening up of the

insurance sector to private players -- that the sector was finally opened up to private

players in 2001.

MAIN PRIVATE PLAYERS IN INDIA:

1. Birla Sun Life Insurance

2. Bajaj Allianz General Insurance

3. HDFC Standard Life Insurance

4. ICICI Prudential Life Insurance

5. ING Vysya Life Insurance

6. Kotak Mahindra Old Mutual Life

7. Life Insurance Corporation (LIC)

8. MetLife India

9. Tata AIG Insurance



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COMPANY PROFILE

ABOUT COMPAY PROFILE

Kotak Mahindra one of India's leading financial institutions was born in 1985 as Kotak

Capital Management Finance Limited. This company was promoted by Mr. Uday

Kotak, Mr. Sidney A. A. Pinto and Kotak & Company. Industrialists Mr. Harish

Mahindra and Mr. Anand Mahindra took a stake in 1986, and that's when the company

changed its name to Kotak Mahindra Finance Limited.



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Kotak Mahindra is one of India's leading financial institutions, offering complete

financial solutions that encompass every sphere of life. From commercial banking, to

stock broking, to mutual funds, to life insurance, to investment banking, the group

caters to the financial needs of individuals and corporates.

The group has a net worth of around Rs.1,700 core and employs over 4,000 employees

in its various businesses. With a presence in 74 cities in India and offices in New York,

London, Dubai and Mauritius, it services a customer base of over 5,00,000.

Kotak Mahindra Old Mutual Life Insurance Ltd. is a joint venture between Kotak

Mahindra Bank Ltd.(KMBL), and Old Mutual plc. At Kotak Life Insurance, we aim to

help customers take important financial decisions at every stage in life by offering them

a wide range of innovative life insurance products, to make them financially

independent. Jeene Ki Azaadi...

VISION:

To be dominant life and pensions player built on trust by world class people and

service.

INTEGRITY:

Stand up honestly and fearlessly for what they truly care about.

Always act in a consistent and equitable manner.

Dont compromise the future to pay for the present.

CUSTOMER FIRST:

Own the customer : Deliver the promise

Listen actively, stretch continually to add value to customers and channel

partners.

BOUNDARYLESS:

Never say its not my job - go beyond the call of duty.



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Experiment believe anything is possible.

Seek new ideas regardless of source.

Share ideas and thoughts freely across levels and functions.

OWNERSHIP:

If it is to be, it is up to me.

Bias for action

MISSION:

To be the leading organization in insurance sector.

Giving 100% level of satisfaction to their customer

JOURNEY TO GROWTH AND SUCCESS:

1986- Kotak Mahindra Finance Limited starts the activity of Bill Discounting.

1987- Kotak Mahindra Finance Limited enters the Lease and Hire Purchase market.

1990- The Auto Finance division is started.

1991- The Investment Banking Division is started. Takes over FICOM, one of Indias

largest financial retail marketing network.

1992- Enters the Funds Syndication sector.

1995- Brokerage and Distribution businesses incorporated into a separate company

Kotak Securities. Investment banking division incorporated into a separate

company - Kotak Mahindra Capital Company.

1996 - The Auto Finance Business is hived off into a separate company Kotak

Mahindra Primus Limited. Kotak Mahindra takes a significant stake in Ford



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Credit Kotak Mahindra Limited, for financing Ford vehicles. The launch of

Matrix Information Services Limited marks the Groups entry into

information distribution.

1998- Enters the mutual fund market with the launch of Kotak Mahindra Asset

Management Company.

2000- Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance business.

Kotak Securities launches kotakstreet.com - its on-line broking site. Formal

commencement of private equity activity through setting up of Kotak Mahindra

Venture Capital Fund.

2001-Matrix sold to Friday Corporation Launches Insurance Services.

2003- Kotak Mahindra Finance Ltd. converts to bank.

KEY GROUP COMPANIES AND THEIR BUSINESS:

KOTAK MAHINDRA BANK LTD.

Kotak Mahindra Bank Limited (KMBL) is the holding company and the flagship of the

Kotak Mahindra Group. It was actually incorporated as Kotak Capital.

Management Finance Limited on November 2, 1985 and obtained its Certificate of

Commencement of Business on February 11, 1986.

It commenced operations with Bill Discounting and soon started other fund-based

activities like corporate leasing & hire purchase, automobile finance and money market

operations. Subsequently, it also entered the funds syndication and the Investment

banking business.



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With the liberalisation of the Indian economy and the opening up of the financial

markets, the Company diversified and started offering a wider spectrum of financial

services. To meet the increasing competition, from global players, in the Indian

financial markets in terms of capital, knowledge base, technology and systems, the

company decided to restructure its investment banking and car finance divisions into

joint venture companies.

KOTAK MAHINDRA PRIMUS LTD.

Kotak Mahindra Primus Limited (KMPL) is a joint venture between Kotak MahindraBank Ltd and (USA) (FCII) formed to finance all non-Ford passenger vehicles. The

Joint venture is dedicated to financing and supporting automotive and automotive

related manufacturers, dealers and retail customers. The Company was incorporated on

28th February 1996 and commenced its operations on 1st November 1996. After

incorporation and subsequent commencement of the business by the joint venture, the

business of financing non-Ford passenger cars and its related activities, previously

carried on by KMFL, is being undertaken by KMP. The Company has immensely

benefited from the brand equity of "Kotak Mahindra" who were market leaders in the

auto finance sector.

KOTAK MAHINDRA CAPITAL COMPANY LTD.

KMBL has come into existence in March 2003 through the conversion of Kotak

Mahindra Bank Ltd. into a Commercial Bank. Kotak Mahindra is one of Indias leading

financial institutions, offering complete financial solutions that encompass every sphere

of life. From commercial banking, to stock broking, to mutual funds, to life insurance,

to investment banking, the group caters to the financial needs of individuals and

corporates.

KOTAK MAHINDRA ASSET MANAGEMENT COMPANY

Kotak Mahindra Asset Management Company (KMAMC), a wholly owned subsidiary

of KMBL, is the asset manager for Kotak Mahindra Mutual Fund (KMMF). KMAMC



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started operations in December 1998 and has over 1,35,000 investors in various

schemes. KMMF offers schemes catering to investors with varying risk- return profiles

and was the first fund house in the country to launch a dedicated gilt scheme investing

only in government securities.

KOTAK MAHINDRA INTERNATIONAL LTD

Kotak Mahindra International Limited (KMIL) is the international arm of the Kotak

Mahindra Group and was incorporated in 1994 in Mauritius, with a branch in Dubai.

Today the international operations also cover the United Kingdom, through KotakMahindra U.K. Limited and in the USA, through Kotak Mahindra Inc. USA. These

companies are subsidiaries of Kotak Mahindra Capital Company (KMCC) the

Investment Banking Division of the Group. Services offered include GDR and ADR

trading and broking, debt syndication, placement of Indian securities and advisory

services. Kotak Mahindra was the first Indian group to be registered with the Securities

and Futures Authority, U.K. Also, Kotak Mahindra is the first Indian group registered

in the US providing service to both Institutional investors and High Networth Clients in

the US for their investments into Indian markets.

KOTAK SECURITIES

Kotak Securities Ltd., subsidiary of Kotak Mahindra Bank Ltd., is one of Indias largest

brokerage and distribution house. Over the years Kotak Securities has been one of the

leading investment service providers catering to the needs of various investor categories

both institutional and non-institutional..

The Private client group (PCG) of the Company provides value added investment

advisory services to high net worth individuals, NRI investors, trusts, corporate and

Banks. The investment product range offered by PCG covers equity investment and

equity trading, equity derivatives, portfolio management, IPOs and Mutual funds. The

Company has a full fledged research division involved in macro economic studies,

sectoral research and company specific equity research combined with a strong and



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well networked sales force which helps deliver current and up to date market

information and news.



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PRODUCT PROFILE

PRODUCT PROFILE

PRODUCT RANGE Life Insurance Products are designed to suit the requirements of

customers. Fundamentally the products provide for:



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1. Risk Cover

2. Investment

3. Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of Insurance. Based on the coverage of the product -the premiums are

calculated and the customer pays accordingly. It is essential for an agent to understand

the customer requirements well in order to suggest the right product.

There are four main types of insurance policies:

1) Term assurance

2) Whole-life assurance

3) Endowment assurance, and

4) An annuity

5)

TERM INSURANCE:

Term insurance pays a death benefit to the legal heirs if a person should die during the

term of the policy.

The terms of coverage vary, and some policies allow one to renew the policy at end of

the given period. Depending on the, the term insurance premium rates often increase at

each renewal date, but renewal is generally guaranteed up to a certain age. Term

insurance can usually be converted to a cash value policy.

Term assurance is the form of life assurance that pays out if the assured dies within a

stipulated period (e.g. while a businessman is on a specific journey).

WHOLE LIFE INSURANCE:

Whole life insurance guarantees a minimum death benefit throughout the course of life,

provide the required premiums are paid .



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Typically the premiums remain at the same level for the life of the insured. Whole life

insurance usually requires premiums to be paid for as long as the insured life, but some

cash value policies required premiums for a shorter period, such as 20 yrs or until age

65. Premiums for these policies will be higher, since the premiums will be paid for

fewer paid years. Whole life insurance builds cash value. Whole life insurance, life

term insurance, can also earn dividends as early as the policys third anniversary. These

dividends which cannot be guaranteed can be paid in cash, or they can reduce the

amount of premium you pay.

The advantage of whole life insurance is that the policy, if kept current, covers you or

your for entire life, to term insurance that covers you only for a term of years.

Whole life assurance pays out on the death of the assured whenever it occurs. Premiums

may continue to be paid throughout the assureds life or may cease at a stipulated age

(e.g. 65).

ENDOWMENT INSURANCE:

Endowment assurance pays out either on the death of the assured, whenever it occurs,

or after a fixed number of years (e.g. when the assured reaches the age of 60).

An integral part of life assurance financing is the fund of collected premiums, invested

in its turn for capital growth, and income. Over the course of time, insurance companies

become more expert investor, and in recent decades stop market values grew strongly.

The fund was thus found increasingly to be surplus to payments needs.

A further important refinement then emerged in the shape of endowment assurance.

This is a development of term insurance in which the lump sum is payable either on

death during the term, or certainly at the end of the term.

Most assurors require the assured to undergo a medical examination before granting

whole- life or endowment assurance.

A NNUITY :



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A form of pension in which an insurance company makes a series of periodic payments

to a person (annuitant) or his or her dependents over a number of years (term), in return

of the money paid to the insurance company either in a lump sum or in installments.

An immediate annuity begins at once and a deferred annuity after a fixed period. An

annuity certain is for a specific number of years. A life annuity is paid from a certain

age until death. Perpetuity continues indefinitely.

Annuities start where life insurance ends.

A specified capital sum is paid by a person and in return of a promise from insurer to

make a series of payments as long as the person lives.

Annuity stops on death of the person, whereas theoretically life insurance starts on

death of the assured.

IMMEDIATE ANNUITY:

Purchaser pays a lump sum caned purchase price, in return of a promise to receive

monthly /half-yearly /yearly annuity.

The annuity can be paid for 5, 10, 15, 20 or 25 years.

If the person-buying annuity dies during the term, his legal heirs or nominees get the

remaining installments.

DEFFERED ANNUITY:

Annuity purchased through lump sum payment or through installments Annuity

payment starts after lapse of a selected period caned deferment period.



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UNIT LINK POLICIES :

A life assurance policy in which the benefits depend on the performance of a portfolio

of shares. Each premium paid by the insured person is split: one part is used to provide

life-assurance cover, while the balance (after the deduction of costs, expenses, etc.) is

used to buy units in a unit trust.

In this way a small investor can benefit from investment in a managed fund without

making a large financial commitment. As they are linked to the value of shares, unit-

linked policies can go up or down in value. Policyholders can surrender the policy at

any time and the surrender value is the selling price of the units purchased by the date

of cancellation (less expense). Small part of the contribution is used for providing life

cover and the balance is invested in units. Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the member.

With Profit and Without Profits Policies:

A life-assurance policy , that has additional amounts added to the sum assured, or paid

separately as cash bonuses, as a result of a surplus or profit made on the investment of

the fund of the life-assurance office, is called a with profits policy .

The surplus generated by the insurance company is retained and also distributed as

bonus to policyholders. Policies may be profits, entitling the assured to a share in the

assurer's profits (which is added to the sum assured when it is paid out), or, for a lower

premium,

Without profit, in which case only the sum assured is paid out(which in time of

inflation may have considerably less purchasing power then the assured

intended).Without profit polices are not entitled to bonus.

KOTAK MAHIDRA Product Basket

KOTAK MAHIDRA today provides a board spectrum of insurance solutions that cater

to all segments of the society and create value for the client.



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The following is a short graphical depiction of the KOTAK MAHIDRA product basket

.


Regular Premium Life Guard ROP

Regular Premium Forever Life Deferred

Annuity

Single Premium Life Guard

Term Insurance

Pension

Single Premium Plans

Endowment Plans

Regular Premium Save n Protect

Special Products

Regular Premium Cash BackLife Link

Life Time

Assure Invest

Smart Kid

Reassure

Life Time Pension

Life Link Pension


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KOTAK MAHIDRA Save 'n' Protect.

As the name suggests this is the policy that helps the client in compulsory saving

creating wealth and having life protection.

This is the ever-popular endowment plan. Catering to the masses this plan has been a

huge success and is the best in its category.

The plan is a with profits plan and has an unique feature of Extended life cover

In which the life assured is protected even after the maturity of the plan for a period

of 5 years for 50% of the sum assured. During this period there is no premium

commitment.

RIDER BENEFITS

Every person has a different need and we at Kotak Life Insurance recognize this.

To give you the flexibility to customize and enhance your cover, we offer a set of

riders which you may opt for along with your basic policy and shape your policy to

suit your individual needs.

Riders offered by Kotak Life Insurance may be availed of at the time of

purchasing the plan, at a nominal cost. The maximum amount of benefit you can

avail is equal to the Basic Sum Assured and the benefit depends on the rider

selected. However, the aggregate premium on all value-adds should not exceed

30% of the basic premium.



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Six riders can be attached with this plan:

1) Kotak Term Benefit (KTB)/ Kotak Preferred Term Benefit (KPTB)

2) Kotak Accidental Death Benefit (ADB)

3) Kotak Permanent Disability Benefit (PDB)

4) Kotak Critical Illness Benefit (CIB)

5) Kotak Life Guardian Benefit (LGB)

6) Kotak Accidental Disability Guardian Benefit (ADGB)

Kotak Term Benefit (KTB)/ Kotak Preferred Term Benefit (KPTB)

In the event of death of the Life Insured during the term of this benefit, the beneficiary

would receive an additional death benefit amount, which is over and above the BasicSum Assured. The maximum amount of benefit that is available is equal to the Basic

Sum Assured. For male non-smokers and females, who want a term benefit cover of

more than Rs.10 lakhs, Kotak .Preferred Term Benefit is recommended; subject to

eligibility conditions.

Kotak Accidental Death Benefit (ADB)

If the Life Insured dies of an accident within 120 days from the date of accident and the

beneficiary proves the same to the satisfaction of the Company, then Kotak Accidental

Death benefit Sum Assured will become payable. The maximum cover available

under this benefit is equal to the Basic Sum Assured (subject to a maximum of

Rs.10 lakhs).

Kotak Permanent Disability Benefit (PDB)



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If the Life Insured becomes totally and permanently disabled due to an accident and the

policyholder proves the same to the satisfaction of the Company, Kotak Permanent

Disability Benefit Sum Assured will be paid as five annual installments of 12% of the

Sum Assured, starting on the date that disability is admitted by the Company, followed

by a final payment at the end of the fifth year of 60% of the Sum Assured. The life

insured should survive for at least 120 days from the date of the accident. The

policyholder should write to the Company giving the details of Permanent and Total

disability in the required format, within 150 days after the happening of the disability.

Permanent Disability is defined as permanent and immediate inability to work or

permanent loss of use of any two limbs or total and permanent loss of sight or injuries

that permanently preclude following an appropriate occupation from the date of

accident onwards. The maximum cover available under this benefit is equal to the Basic

Sum Assured (subject to a maximum of Rs 10 lakhs).

Kotak Critical Illness Benefit (CIB)

This benefit can be added to the basic life insurance plan to provide financial support inthe event of medical emergencies. On the first occurrence of critical illness during the

term of the plan, you would receive a portion of the Sum Assured to help you reduce

your financial burden in this emergency. The maximum rider benefit that you can avail

depends on the basic plan subject to a maximum of Rs.20 lakhs.

Maximum Critical Illness Benefit Allowed

For Kotak Capital Multiplier Plan and Kotak Retirement Income Plan (With Cover),

the maximum Critical Illness benefit that you can avail of is equal to the Basic Sum

Assured (subject to a maximum of Rs 20 lakhs).

For Kotak Eternal Life Classic Shield, Kotak Eternal Life Premier Shield, Kotak Ace

Investment and Kotak Wealth Insurance the maximum Critical Illness benefit that you

can avail of is 75% of the Basic Sum Assured (subject to a maximum of Rs 20 lakhs).

For Kotak Endowment Plan, Kotak Money Back Plan, Kotak Term/Preferred Term

Plan, and Kotak Secure Invest Insurance, the maximum Critical Illness benefit that you

can avail of is 50% of the Basic Sum Assured (subject to a maximum of Rs 20 lakhs).



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After the Critical Illness Benefit is paid, the Basic Sum Assured and all the benefits

dependent on the Basic Sum Assured will reduce in the same proportion that the

Critical Illness Benefit bears to the Basic Sum Assured at the time of claim. The list of

critical illnesses is:

Heart Attack (MI)

Cancer

Stroke

Coronary artery by-pass graft surgery (CABG)

Kidney failure

Major organ transplants

Paralysis

Loss of limbs

Aorta surgery

Major burns

Heart valve surgery

Blindness

Kotak Life Guardian Benefit (LGB)

In case of the unfortunate death of the policyholder, this benefit keeps the policy alive

by waiving all future premiums on the policy. All the future basic premiums are paid by

KLI as and when due. This benefit can be availed of only when the Life Insured and

Policyholder are two different people.

Kotak Accidental Disability Guardian Benefit (ADGB)

In case the policyholder is permanently disabled as a result of accident, this benefit

keeps the policy alive by waiving all future premiums on the policy. All the future basic

premiums are paid by KLI as and when due.

Permanent Disability is defined as permanent and immediate inability to work or



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permanent loss of use of any two limbs or total and permanent loss of sight or injuries

that permanently preclude following an appropriate occupation from the date of

accident onwards.

Eligibility Criteria:

Eligibility

Condition

KTB/ KPTB / ADB /

PDB

CIB LGB / ADGB (for

the Proposer)

Age at entry Min 18 yrs &Max 60 yrs Mini 18 yrs & Max 60yrs

Min 18 yrs andMax 50 yrs

Max

Premium

Ceasing

Age

60 years

70 years 70 years

Benefit

Term Mode.

Less than or equal to the

premium payment term#

Equal to the premium

payment term #

Equal to the

premium payment

term

Mode of

payment

As of the Basic policy As of the Basic policy As of the basic

policy



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ORGANIZATIONAL

STRUCTURE



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ORGANIZATIONAL STRUCRUTE


Managing director

AppointedActuary ITCTO InvestmentCO FinanceCFO

Sales

VPTied Agency

MarketingVP

Sales

VPAlt. Channels

HRVP Training

Finance

Actuary

AVP

ITAVP

Investment

AVP

CPC Legal

Underwriting,

MISAccounts

VP

SalesDevelopment

AVP

Marketing

AVP

Corporate

HO

AVP

HR

AVP

Training

ProductActuary

AVPSales

Support

AVPGroup

Marketing

AVPCorporate

regions

AVP

Sales

Regions

Corporate

Agents

Branch

Manager

Sales

Manager

Life

Advisors


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TRAINING



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TRAINING AS IN OMKM

In the insurance industry where OMKM exists, the only thing that is constant is changes

that are happening across the industry from the time to time. Thus training that is

becomes inevitable and forms that core of success to thrive the cut throat they would

lag behind in comparison with the other player in the market. The company realizing

the pulse is following a unique training program that is described. The entire training

program is done mainly in two levels. First, for the LAs and the second for the SMs.

The program for the LAs includes a 18 days training as made a law by the IRDA for

becoming a LA in country and a 45 hour training program for PT (product training).

The SMs will be having a SMDP in addition to the IRDA training and the PT. This is

specific to the company. The 18 days training includes prescribed syllabus as stipulated

by the IRDA and has a book for that. In the text it covers the main insurance concepts,

the common practices followed in the industry, laws and regulations pertaining top the

industry and as a whole making the insurance industry known to them.

Other than the insurance concepts, the company also trains them with the Consultative

selling Skills as practiced by the company. This means giving the customer what and it

is not just imposing what we have with us. To get used to this training gives the right

platform. This is mainly done through role plays. They are also given the training to

handle calls and objections also. Besides these during the program the company equips

them with other necessary skills like interpersonal skills, communication skill etc. In

the concept of insurance selling a principle of 12/6/3/1 is there. It means out of every 12

customers 6 will give the appointments, 3 will be interested and finally only 1 buys the

product. Also another uniqueness of the industry is that though every one wants

insurance no one feel the need of insurance. In selling such a product there are two

aspects involved known as the hard fact and the soft fact.



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1. AN INSIGHT TO THE IRDA TRAINING PROGRAM

PURPOSE: The syllabus is designed for practical training for life advisors, as

specified in licensing of Life Advisors Regulations. It provides a foundation of

knowledge, and concept upon which an individual can build a successful career as life

insurance agent.

GENERAL INSURANSE REQUIREMENS: Section 42(4) of the amended insurance

Act, 1938 states that a person taking license to act as an insurance agent shall be one

who is not:

A minor.

Found to be of unsound mind by a court of complement jurisdiction.

Found guilty of criminal misappropriation or criminal breach of trust.

Found guilty of having knowingly participated in or connived at any fraud and

who

Posses minimum qualification of pass in 12th standard (10th standard of

rural agents)

Shall have completed from an approved institution (An Agents Training

institute approved by the Insurance Regulatory and Development

Authority) at least 100 training hours spread over to three to four

weeks; and (period of training can be reduced under certain

circumstances. Please see the Agents Regulations).

Has a pass in the pre-recruitment examination conducted by the

Insurance Institute, Mumbai, or any other approved examination board.

2. TRAINING SCHEDULE AND STRUCTURE

PRACTICAL TRAINING METHODOLOGY: The classroom training may be by

means of lecture, discussions, speeches/ seminars, question-answer sessions, case

studies, role playing, exchange of experiences, team training, replication of real life

situation in the classroom, open house, self study, etc. The use of various audio-visual



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devices while taking the lecture like slides, overhead projectors, computers, markers,

etc. may be encouraged. The training institute may ask the faculty to give hands

out/written material on the proposed lecture to the participants in advance.

The training institute will arrange to supply every agent an agents manual, services

manual, list of all the products available in the market, a handbook containing specimen

copies of proposal from, policy form, claim form, etc. from the insurance company who

has nominated the agent for training course.

EXAMINATIONS FOR AGENTS:

All agents on completion of their will have to appear in written examination.

The exam will consist of objective type questions only.

The exam will be maximum 100 marks.

The time for examination will be 2 hours.

10% of Questions will be numerical.

This will be followed by an interview of 25 marks, conducted by the insurance

company.

Every agent will have to score at least 50% marks in the written exam and 60%

in the interview for qualifying in the agents examination and for award of

certificate.

PRACTICAL TRAINING:

Every person aspiring to take up agency as a career will have to undergo on the

job practical training with the designated company where he will work under

the supervision of sales functionary.

The sales functionary will teach the trainee the nuances of creating the need in

the mind of the customer, understanding the wants of clients, proposing 2 or 3

solutions for satisfying the wants and finally helping him decide the best option

and closing the deal.

In addition administrative matters, documentation, etc. will also be taught to

trainee.



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3. EARNING:

Sales workers employed by various agencies may be paid salary only, salary plus

commission, or salary plus bonus, while independent agents are most often paid by

commission only. Commissions are a customary from of compensation given to agents,

especially for those who are highly experienced. The type of insurance being sold as

well as whether or not a transaction is a new policy or a renewal dictated the amount of

commission an agent will be given. For agent who meet their sales goals or for those

working for an agency which meets its goal for profit earnings, bonuses are often

granted. Other agents, such as those working with financial planning may receive a

payment for their services, instead of a commission.

Oftentimes, companies provide a variety of paid benefits to the life advisors. These may

include training for licensing, continuing education, office space, clerical support

services, group insurance plans, and retirement plans. Automobile and transportation,

promotion and marketing expenses, and attendance at conventions and meetings may

even be paid by some companies. While independent agents working for insurance

agencies may collect fewer of these benefits, their commission are commonly higher to

help them compensate for marketing and other expenses.

Many independent agents are paid by commission only, whereas who are employees of

an agency or an insurance carrier may be paid in one of three ways- salary only, salary

plus, commission, or salary plus bonus. In general, commissions are the most common

form of compensation, especially agents. The amount of commission depends on the

type and amount of insurance sold, and whether the transaction is a new policy or arenewal. Bonuses are usually awarded when agents meet their sales goal or when an

agencys profit goals are met. Some agents involved with financial planning receive a

fee for their services rather than a commission.



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4. LIFE ADVISOR EMPLOYEMENT OPPORTUNITY:

Despite the anticipated slower-than-average growth rate for jobs within this occupation

field, qualified, capable agents are still expected to be able to find

opportunities for work throughout the year 2012. Flexibility and self-motivation will be

crucial to new agents looking for work. Agents must take pleasure in competitive sales

work, have expectation interpersonal skills and have a vast array of knowledge

concerning various insurance and financial services. It is possible for agents with

foreign language skills to find more opportunities for work as demands for service

increase among a wider assortment of customers. Also, due to the technical nature of

the work, agents must enlighten themselves with a vocabulary and understanding

reflective of the many technical and legal terms they will encounter. It can be difficult

for many beginning agents to adequately establish a good clientele. Because of this,

many job opening may come from a need to replace agents who leave to find other jobs,

or who retire.

The volume of sales dedicated to insurance and other financial products is expected to

largely affect the future demand for life advisors. And, it is estimated that long-term-

care insurance, and health insurance sales will increase drastically as the population

continues to age. Along that same line, an older population will give rise to the demand

for automobile and home insurance, as well as various coverage plans for other

valuable purchase and equipment. It is also expected that commercial insurance sales

will rise due to the expansion of coverage sought by both new and existing business

firms. Such coverage may include expansion on workers compensation, population and

other liability coverage, and employee benefits.

It is important for agents to integrate new technology into their already present business

in order to remain competitive. Innovative technology such as the internet can be used

to reach an extensive client base, and to expand business opportunities. And because

most clients appreciate their relationship with their agent and like discussing their

policies directly with their agents, such uses of technology should not be seen as a

threat to jobs. The expansion of automated policy and claims processing is also

benefiting agents, making the opportunity to take on additional clients more available.



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Supplying client with better customer service is another way agent can increase their

competitiveness. To do this carriers and agents may implement call centers to take

customer calls. Call centers provide greater access to information regarding the

company policies and insuring timely services.

As investments and insurance policies become more and more complicated many

individuals as well as businesses are finding that they lack both the time and knowledge

to purchase such policies without the help of an agent. And because most individuals

and business consider insurance an important necessity, agents are not likely to face

unemployment because of an economy recession.

5. MULTI-LAYERED REWARDS AND RECOGNITION

PROGRAM:


PROGRAM

GOVERNOR

HALL OF FAME

TOT

COT

MDRT

51 CLUB

MEGA STAR

SUPER STAR

STAR


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Program Governor / Hall of fame

Unmatched recognition status in entire industry.

Exclusive Shield / Citation by Chairman.

MDRT Benefits

Membership entitles for participation in prestigious conference held every year

in US.

51 Club

International program on the lines of 51 club Mutual.

High recognition for consistent performance.

Invitation to be part of national bi-annual felicitation convention.


STAR SUPER MEGA ELITE


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6. LIFE ADVISOR CAREER PROGRESSION:

7. PRODUCT TRAINING:

The product training is carried out for a period of 45 hours which is covered is a span of

five and a half days. The company has got 12 products and both the LAs and SMs are

educated on these products during the 45 hour training program. The practice followed

in the company is making them educated of all these products at one go. But there are

two arguments favoring this idea and opposing the idea. The advantages and

disadvantages of the present system are pointed out below.


Head, Training

Chief Manager

(Training)

Trainer

Life Advisor

National Vice

President

Regional Vice

President

Branch Manager

Sales Manager

Complete

Financial

Entrepreneur


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Advantages:

The whole training finished off in one go and hence time is saved.

The LAs gets an overall idea about the concepts and products.

The agents have all the products in their bag and not limited to few products.

Disadvantages:

The agents will only have the knowledge and not the skills pertaining to sell

each of these products.

The agents might not get back to the company for another training session.

8. SALES MANAGER DEVELOPMENT PROGRAM (SMDP):

The SMDP is conducted for a team of newly included SMs in the southern region. It is

held in Bangalore, Chennai or Hyderabad. Each one consists of 10-12 newly appointed

SMs. It is as per the session 80(c) where it is stipulated for all the financial instruments

like the insurance, mutual funds ect. This is conducted after the IRDA and PT, within a

period of six months from the date of their appointment. The sales managers are trained

across their various functions which can be summarized as.

Selling of insurance policies.

Recruitment and selection of LAs

Effectively coordinating the team of LAs working under the SM.

The SMs are mainly trained in two dimensions known as the skill and knowledge. In

skill it covers management closing a sales and tips for recruitment of LAs. in

knowledge based training they are given hard knowledge and also imparted knowledge

about other financial instruments. They also focus on the Quantility aspect while

recruitment the LAs. Here they are also made knowledgeable about the



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6+3 rules for LAs. this includes time to invest, urge to earn and will to meet people

other than 4/6 mantra the company follows.

9. ONLINE TRAINING:

For the IRDA training program the company gives the option of online training to those

high net worth individuals taking into consideration their time constraint. In this method

he candidate is given a password and id and he can access the materials till the period

the password is valid. The company takes immense care in handling over this and

prefers not to give this taking into consideration the huge investment on each candidate

undergoing online training. The company has to pay an amount of 3000 rupees to the

institute for each candidate and more over majority of the candidates also drop out from

the course and company incurs heavy losses. It is highly recommended in case of

outsourcing of the LAs. The time saving factor is the only advantage and the

disadvantages are several as listed.

1. The training program is not at all motivating to the candidates.

2. The program does not make the LAs to get acquainted with the

company and its policies and procedure.

3. The retention rate is very high while taking into consideration the LAs

who undergoes online training.

4. The personal rapport with the company is not built and the LA views

himself as a separate entity and not a part of the company and he starts

working in isolation.

5. No contacts with the colleagues or sales managers which does not helpto instill a sense of team spirit in his mind.



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FUNCTIONAL

DEPARTMENT



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FUNCTIONAL DEPARTMENTS

FINANCIAL DEPARTMENT:

Planning & MIS - Monitoring of Organization performance - Sales, Quality, Trends- on a continuous basis. With insights into MIS, socio economic factors & competitor

behavioral patterns, they contribute to sales targets, strategic initiatives, projected

branches, projected work force...the road ahead!!!

Internal Audit - Risk Management, Business Continuity Plan, Best practices, policy

manuals are not mere words on paper...adhere to them. They ensure 'Practice what you

Preach'.

Complianc e -They ensures that every action is within the regulatory framework.

CCU - They ensure that every rupee is spent economically, prudently, cost effectively.

Distribution Payouts - They roll out commission payouts, referral, bonuses, contest

spends & effectiveness...

EPU - Cost discipline, expense processing, vendor payments, reimbursements,

salary payouts...They handle E-TRACK!!!

Investment Operations - They being the custodian of investments, benchmark our

performance with the best in the industry. They manage the cash flow!!!

Strive on the excellence & transparency of our systems and controls to keep the

auditors, customers & shareholders assured that the financial story is said right!!!



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Driven by sheer professionalism. They strive relentlessly towards theirorganizational values.

MARKETING DEPARTMENT:

Marketing at KOTAK MAHIDRA covers an array of activities - advertising,

branding, market development, channel support, direct and alliance marketing and

corporate communications. The people in each of these sub-functions perform a

unique job, of which you can learn more through this section.

The advertising and branding section has the schedules of advertising campaigns and a

detailing on what KOTAK MAHIDRA's corporate identity stands for, why its

important to be consistent and the guidelines that must be adhered to. This section

also details the branding across training, advisor and advertising collaterals with

references.

Market development has lucid presentations about our products and how they compare

to those of competition. You will also find an update on the recent happenings in the

life and pensions sector.

Channel marketing aims to streamline the design and development of collaterals

across distribution channels. You will find examples of posters, flyers, banners,


Particulars for the period ended March 31, 2011

Particular 2011 201oPremium Income 4176.00 1163.00

Other Income 120.60 220.71

Total Income 4424.00 1193.71

Expenditure 8.63 11.07

Net Profit/(Loss) (1471.82) (1050.98)

Share Capital 4250.00 1900.00


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danglers, sales tools, etc developed for tied agents, banc assurance and corporate

agents, as well as for product launches and campaigns.

Direct channels comprises direct marketing and alliance marketing. Direct marketing

taps databases to generate high quality leads for profitable business. Under direct

marketing you will find creatives of recent campaigns, as well as details such as

database list, target audience. Alliance marketing seeks to tie up with channel partners

that have synergies with KOTAK MAHIDRA and develop programs that benefit the

customer, KOTAK MAHIDRA and the channel partner.

Corporate communications handles media relations and is responsible for some of the

news clips regarding KOTAK MAHIDRA that you see in the press. You can check

out the most recent clips in the 'KOTAK MAHIDRA in the News' section.

Performance Management:

They are committed to creating a performance driven culture through effective

management of performance of all staff members in a way that is mutually

beneficial. They drive the same by linking individual performance objectives to

business objectives and evaluating performance consistently and fairly. To know more

about the Performance Management system, the philosophy, Goal setting,

Appraisal Process, Job Descriptions etc. click on the Performance Management Link.

Training & Capability Development Programs:

The focus of our Training & Capability Development Programs is to develop key

competencies & skills among staff members so as to facilitate attainment of full people

potential. To know more about the glossary of Training Programs and the Training

Calendar , click on the Training link. This site also gives you the various Capability

Development programmes such as Fast Tracks, Advantage, Grand Slam specifically

designed for UMs, FSCs and Executives respectively.



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HUMAN RESOURCE DEPARTMENT:

HR Policies & Procedures:

The Policies and procedures laid down here promote the philosophy of the Company

with regard to standards of excellence; terms of employment; employee development;

and employee services. The objective of this section is to inform you of the Policies

related to Travel, Compensation, Med claim, Transfers etc.. We recommend that you

make yourself aware of the entitlements.

Training and Development:

This procedure basically deals with the training requirement of the employs so that they

can work more effectively an efficiently. This creates a healthy competition environment

in the organization and enhances the efficiency and quality of the employees

Developing suitable strategies/systems for identification and assessment of training

requirements of different categories of personnel for organization as a Whole. Draw

action plan to meet the requirements, issue necessary instruction to Branches/Officers.

Develop suitable systems for evaluation of training effectiveness.

Evolving/Designing suitable HRD systems/OD interventions for the development of

personnel which are conducive for growth and development of organization. Framing

and issuing suitable guidelines for effective implementation, reviewing the

existing systems on an ongoing basis and refine them for enhancing effectiveness.



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RESEARCH

METHODOLOGY



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RESEARCH METHODOLOGY

Research methodology involves explicitly reveals the tools and techniques used during

the whole process of the course and its implementation during the data collection,

analysis and interpretation phase. The techniques applied are highly capable of

determining the direction of the project and could lead to erroneous results if not

properly applied. The tools and techniques used are explained.

DATA COLLECTION: It is the process of seeking inputs required for the purpose

of analyzing data. The study involves the use of first hand information collected by

the student known as the primary data and data which is obtained or derived

directly from other sources known as the secondary data. The techniques for each

of these are mentioned below.

1) PRIMARY DATA: primary data was mainly collected in the form of

Questionnaires and Direct interviews. Separate questionnaires were

circulated among employees, which mainly involved questions to analyze

their performance, find out their training needs and study the entire training

program. It contained both close end open ended questions to compensate

for each other with more emphasis on close ended questions. Questionnaires

were distributed to a sample and the details of the sample are given below.

a) SAMPLING:Method of sample random sampling with the mix of

convenience sampling limiting the sample to city of Bangalore

alone.

b) SAMPLE SIZE:The sample size was 50 across the two branches of

the company in Bangalore.



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c) DIRECT INTERVIEW: Conducted for data collection and get

enhanced inputs, with the trainers in the company. The company has

two trainers Mr. Anand who concentrated more on training for the

sales managers and Mrs. Aarti singh who concentrated more on

training for the life advisors. They were able to give further sights to

the students regarding the training.

2) SECONDARY DATA :The derived data was mainly obtained from various

sources which include websites, journals, magazines and other text books.



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SWOT ANALYSIS



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SWOT ANAYLSIS

SWOT Analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses,

Opportunities, and Threats involved in a project or in a business venture. It

involves specifying the objective of the business venture or project and identifying

the internal and external factors that are favorable and unfavorable to achieving

that objective.

Strengths:

1. Brand image of company.

2. Comprehensive training programme

3. Hard working and co-operative environment.

4. Skilled and qualified work force.

Weakness:

1. Intense competition.

2. Lack of hold in rural market.3. Clientage is not so loyal as compare to the clientage of other competing

companies in the same industry.

Opportunities:

1. In India there is still a lot more market to tapped which is getting supported by

increasing, spending and there by saving of people.

2. Carrier opportunities.

3. The entire workforce consist of youngster mostly, which means they can be

encouraged and motivated to do good and hard work because they have a long

way to go and most of them are eager to climb the ladder.

Threats:

1. Competitors growth.

2. Changing rules of SEBI.

3. New Commission rules.



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FINDINGS AND

SUGGESTION



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FINDINGS

The overall effectiveness of training in the company is good and unique.

One of the chief reasons for the effectiveness of training is the capability of

the trainers and the personal relation they have with the employees.

Most of the youngsters less than 30 ages are in the post of sales manager

because the sales manager position is very challenging.

Organization is male dominated most of the employee especially salesmanagers are employee.

Most of the fresher working in the organization they have the experience in

the organization less than two years.

Earning chart shows that Job is well paid most of the employees are satisfied

with their earning.

Product training needs many changes and improvements.



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SUGGESTIONS

The entire representative of the company can suggest the following

recommendation to improve the recruitment process and training program of the

company.

The entire recruitment process takes a lot of time this should be taken

care of.

The company should cut down on attrition and look at retaining the

present employees rather then recruiting the new people and making

them go through training.

Company should give the more value to the experience not previous

company drawn.

Those who are in call center or BPO if they come to KML they get

very good package comparatively others from banking industry get

comparatively less.

Need based training should be done on an individual basis.

The training program should be made more interactive and interesting.

Product training should involve various aspect and not just the

technical aspects.

Product training should be held every three months to make the life

advisor more equipped.

Modules in project training should be split up rather than covering all

the modules together.

Wider usage of different tools like role plays, mock calling and other

modern training modes.

De centralized HR department is to be followed in the company.



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ANNEXURE

QUESTIONNAIRE

Questionnaire for the employees of Kotak Mahindra Life for the study of

Training, Development and Recruitment process in Kotak Mahindra Life

1. Address of Organization:

2. Respondents Name:

3. Respondents designation:

4. Respondents phone No:

5. How long you have been in the organization?

Less than 2 years

2 years to 5 years

More than 5 years

6. How did you come to know about company vacancy?

Interview

Reference

Campus

7. Do your company run Training program for employee?

Interview

Reference

Campus

8. How often Company run training program for you?

Once in a Month

One Month to Six Month Six Month to One Year



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9. Do you feel that Training program would greatly benefit you?

Yes

No

Partial

10. What is your satisfaction level in the KML?

Excellent

Good

Satisfactory

11. In your Training program, do they guide according to new techniques?

Yes

No

12. Would you like to change your working stream?

Yes

No

13. Are you satisfied with your work in KML?

Excellent

Good

Satisfactory

14. Are you satisfied with the working environment?

Excellent

Good

Satisfactory

15. Are you aware about the employee referral fees?

Yes

No

16. Do you wish to give reference to your friends as a Sales manager?

Yes

No

17. How do you feel about recruitment process at KML?



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.

CONCLUSION



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CONCLUSION

My stay at Kotak Mahindra bank was very beneficial to me as it was more of learning

then just working. I got a very good co-operation from all the employees of kotak

Mahindra during my organizational study.

I learned the overall activities of the company, which was indeed very useful to me. The

organization study was successful in knowing the process of decision making and the

system required for smooth functioning of organization.

The organization study was mainly helpful in knowing the working methodology of

some key function of HRM, FINANCE, MARKETING. This organization

completeness is visible through the study, this study has ascertained that the

organization is functioning successfully of the company management principles and

practices.

This study was helpful in knowing various management techniques that are visible in

the organization and the study by which new principles can be derived from continues

improvement, survival and growth to achieve the desired level of excellence in the

competitive scenario of industrial management.



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ABBREVIATIONS

BM: Branch Manager

IRDA: Insurance Regulatory Development Authority

KMOM: Kotak Mahindra Old Mutual Life Insurance

LA: Life Advisor

OJT: On The Job TrainingPT: Product Training

SM: Sales Manager

SMDP: Sales Manger Development program

NA: Not applicable

VL: Very long

VS: Very short

PA: Partially agree

SA: Strongly agree

SDA: Strongly disagree

CSIT: Covers several irrelevant topics

SIORT: Should include other relevant topics



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BIBLIOGRAPHY

1. www. Kotak mahendra.com

2. www.google.com

3. Business today

4. Philip kotler & keller

5. Advisors manual of KOTAK MAHIDRA

6. www.Kotaklifeinsurance.com
http://www/http://www.google.com/http://www/http://www.google.com/

Final Kotak Mahindra

Documents