Submitted By:-

Pardeep Kumar
(809377)
Under the Guidance of
Mr. Vivek Shrivastav
Branch Manager
HDFC Standard Life Insurance Corporation, Gwalior
 Certificate
This is to certify that the project entitled “MARKET RESEARCH ON
FINANCIAL CONSULTANT FOR HDFCSLIC, Gwalior” submitted at BVM
COLLEGE OF MANAGEMENT EDUCATION, Gwalior, in partial fulfillment of
the requirement for the award of degree of Bachelor of Business
Administration, embodies the results of bonafide project work carried out by
Mr.PARDEEP KUMAR (201OBBA-809377) under my guidance and
supervision, and no part of this project work has been submitted to any other
degree.

Date:
Place: BVM GWALIOR

Mr. Vivek Shrivastav

 Declaration

I, PARDEEP KUMAR (2010-BBA), hereby declare that the project work entitled,
“MARKET RESEARCH ON FINANCIAL CONSULTANT FOR
HDFCSLIC, GWALIOR” is an authentic work done by me for the fulfillment of
the requirements of the award for Bachelor of Business Administration at BVM
COLLEGE OG MANAGEMENT EDUCATION, Gwalior in the year 2008-2011.
The data collected for the purpose of study has been thoroughly collected by me
and has not been submitted earlier to any other Institute or University.

Date: Mr. Pardeep Kumar

Place: BVM Gwalior
 Acknowledgements

I would like to express my gratitude to my supervisor, Mr. Anubrat Sharma

(SALES DEVELOPMENT MANAGER), for his wonderful guidance,
inspiration and encouragement. He introduced me to methodical research, gave
me the freedom to pursue my research goals, and provided an excellent research
environment, to mention just a few points. In short, this thesis would not have
been possible without his ample support and guidance.

I would also like to thank Mr. Praveen lecturer at BVM COLLEGE OF

MANAGEMENT EDUCATION GWALIOR, for his vision and encouragement
for my work. She helped me wherever I was struck and I am very grateful to him
for the successful completion of this thesis.

The collaboration and discussion with my colleagues at BVM and elsewhere was an
indispensable source of information and has spawned a lot of insights for this
thesis. I would like to thank all of my colleagues for their cooperation and
openness.

Last but not the least, I express my sincere feeling of gratitude to all my friends
and family members who have constantly encouraged me in carrying out the
work.

Mr.PARDEEP KUMAR
CONTENTS

i. Front Page

ii. Certificate

iii. Declaration

iv. Acknowledgement

v. Contents

vi. Introduction

vii. Organizational Profile

viii. Product Portfolio

ix. Research Objectives and Scope of Research Project

x. Research Methodology and Limitations

xi. Data Analysis, Interpretation and Presentation

xii. Conclusion and Suggestions

xiii. Limitations

xiv. Annexure

xv. References
CHAPTER 1: INTRODUCTION
THE TOPIC: “MARKET RESEARCH ON FINANCIAL CONSULTANT FOR
HDFCSLIC, Gwalior”
At HDFC Standard Life Insurance, We were assigned with the topic as “Market
Research on Financial Consultant” for my project work. The selection of the topic
was in order to take know how do these companies generates business through
them.

Financial Consultants are those sources of a company who have their own
relations and personal contacts among common public that they use to generate
business through.

Company has certain criteria to recruit these Financial Consultants. The steps are
as follows.
• He should be at least 12th passed.
• He should complete IRDA training.
• He should clear the IRDA exam.
• He should through successfully the exam and training.

Some other criteria:

• He should have good personal contacts.
• He should have convincing power.
• He should be above 18th year old.

Once he through all these steps of recruitment, he becomes the legal Financial
Consultant of the company and reserve the right to sale the policy to any prospect
client also he is paid the commission a certain percentage. There are some reward
and tour package also.

1.2 REASON FOR SELECTION OF THIS TOPIC:

The financial sector is one of the booming and increasing leaps and bounce,
some of the experts say only 20% of Indian population is insured which means
80% Indian are not insured and therefore having a bright prospect of progress of
this sector where I too would like to build my career and be a part of success
story.
The Financial consultants are another channel through which the company sales
its policy. It is really difficult to convince and sale a single policy but since these
consultants have their contacts which they can sale a single policy. Whereas I
found my interest in dealing, interacting and handling a team, because all this
most of time park you in some critical zone which becomes challenge for you and
your responsibility becomes to solve the critical situation or problems.

1.3 IMPORTANCE TO THE COMPANY:

After interacting with company’s marketing head I got to know that they have
many Financial Consultants but not getting the policies up to the expectations
level of the company. Company is really interested in knowing if there is any
mistake or lacking somewhere in process of recruiting and or the criteria they
have fixed for the recruitment. The ultimate purpose of giving me this topic was
to revise its recruitment policy/process.
1.4 LEARNING FROM THE STUDY:

I. The process of recruitment of HDFC STANDARD LIFE INSURANCE LTD.

II. How is the training given?
III. What are the criteria of selection?
IV. The culture of insurance company particularly of HDFC.
V. What are the problems faced by these financial consultants on daily basis?
VI. How to convince and convert the prospect client into real client?
CHAPTER 2: ORGANIZATIONAL PROFILE
1.1 FORMATION OF COMPANY:

HOUSING DEVELOPMENT FINANCE CORPORATION:

HDFC was started by Hasmukh Bhai Parekh in1977 with the formation of
Malhotra Committee. HDFC was incorporated with the primary objective of
meeting a social need that of promoting home ownership by providing long-term
finance to households for their housing needs. HDFC was promoted with an
initial share capital of Rs. 10 corers.

HDFC has since emerged as the largest residential mortgage finance institution
in the country. The corporation has had a series of share issues raising its capital
to Rs. 119 corers. The net worth of the corporation as on March 31, 2000 stood at
Rs. 2,096 corers.

HDFC operates through 75 locations throughout the country with its Corporate
Headquarters in Mumbai, India. HDFC also has an international office in Dubai,
U.A.E., with service associates in Kuwait, Oman and Qatar.

HDFC’s main goals are to:

I. Develop close relationships with individual households.

II. Maintain its position as the premier housing finance institution in the
country.
III. Transform ideas into viable and creative solutions.
IV. Provide consistently high returns to shareholders.
V. To grow through diversification by leveraging off the existing client base.
STANDARD LIFE:

The Standard Life Assurance Company ("Standard Life") was established in 1825
and the first Standard Life Assurance Company Act was passed by Parliament in
1832. Standard Life was reincorporated as a mutual assurance company in 1925.

Standard Life is Europe's largest mutual life assurance company. Standard Life,
which has been in the life insurance business for the past 182 years, is a modern
company surviving quite a few changes since selling its first policy in 1825. The
company expanded in the 19th century from its original Edinburgh premises,
opening offices in other towns and acquiring other similar businesses.

Standard Life currently has assets exceeding over £70 billion under its
management and has the distinction of being accorded "AAA" rating
consequently for the past six years by Standard & Poor.

STANDARD LIFE ASIA LIMITED/JOINT VENTURES:

The group’s Hong Kong subsidiary, Standard Life Asia Limited (“SL Asia”), was
incorporated in 1999 as a joint venture and became a wholly-owned subsidiary of
Standard Life in 2002. The group’s operations in Hong Kong were established to
give the group a presence in the Far East from which it could expand into China.
The group’s joint ventures in India with Housing Development Finance
Corporation Limited (“HDFC”) were incorporated in 2000 (in relation to the life
assurance and pension’s joint venture) and 2003 (in relation to the investment
management joint venture). The group’s joint venture in China with Tianjin
Economic Development Area General Company (“TEDA”) became operational in
2003.
 STANDARD LIFE GROUP

I. The Standard Life group has been looking after the financial needs of
customers for over 182 years
II. It currently has a customer base of around 7 million people who rely on
the company for their insurance, pension, investment, banking and
health-care needs
III. Its investment manager currently administers £125 billion in assets.
IV. It is a leading pensions provider in the UK, and is rated by Standard &
Poor's as 'strong' with a rating of A+ and as 'good' with a rating of A1 by
Moody's
V. Standard Life was awarded the 'Best Pension Provider' in 2004, 2005 and
2006 at the Money Marketing Awards, and
VI. It was voted a 5 star life and pension’s provider at the Financial Adviser
Service Awards for the last 10 years running.
VII. The '5 Star' accolade has also been awarded to Standard Life Investments
for the last 10 years, and to Standard Life Bank since its inception in 1998.
VIII. Standard Life Bank was awarded the 'Best Flexible Mortgage Lender' at
the Mortgage Magazine Awards in 2006.

INCORPORATION OF HDFC STANDARD LIFE INSURANCE

CO. LTD.:

The company was incorporated on 14th August 2000 under the name of HDFC
Standard Life Insurance Company Limited.
Their ambition from the beginning was to be the first private company to re-enter
the life insurance market in India. On the 23rd of October 2000, this ambition
was realized when HDFC Standard Life was the first life company to be granted a
certificate of registration.

HDFC are the main shareholders in HDFC Standard Life, with 81.4%, while
Standard Life owns 18.6%. Given Standard Life's existing investment in the
HDFC Group, this is the maximum investment allowed under current
regulations.

HDFC and Standard Life have a long and close relationship built upon shared
values and trust. The ambition of HDFC Standard Life is to mirror the success of
the parent companies and be the yardstick by which all other insurance
companies in India are measured.

HDFC Standard Life Insurance Company Ltd. is one of India’s leading private life
insurance companies, which offers a range of individual and group insurance
solutions. It is a joint venture between Housing Development Finance
Corporation Limited (HDFC Ltd.), India’s leading housing finance institution
and one of the subsidiaries of Standard Life plc, leading providers of financial
services in the United Kingdom.

Both the promoters are well known for their ethical dealings and financial
strength and are thus committed to being a long-term player in the life insurance
industry.

2.2 PRODUCT SCOPE:

HDFC Standard Life offers a bouquet of insurance solutions to meet every need.
The company caters to both, individuals as well as to companies looking to
provide benefits to their employees.
For individuals, the company has a range of protection, investment, pension and
savings plans that assist and nurture dreams apart from providing protection.
The customers can choose from a range of products to suit their life-stage and
needs.

For organizations they have a host of customized solutions that range from
Group Term Insurance, Gratuity, Leave Encashment and Superannuation
Products. These affordable plans apart from providing long term value to the
employees help in enhancing goodwill of the company. The products of the
company are categorized into various sections which are as follows:

A. INDIVIDUAL PRODUCTS
B. GROUP PRODUCTS
C. RURAL PRODUCTS
D. SOCIAL PRODUCTS
E. TAX BENEFITS

For Individuals, HDFC Standard Life has a range of protection, investment,

pension and savings plans that assist and nurture dreams apart from providing
protection. Customer can choose from a range of products to suit his life-stage
and needs.

For Organizations, HDFC Standard Life has a host of customized solutions

that range from Group Term Insurance, Gratuity, Leave Encashment and
Superannuation Products. These affordable plans apart from providing long term
value to the employees help in enhancing goodwill of the company.

Individual Products:
I. HDFC Children's Plan,
II. HDFC Endowment Assurance Plan,
 III. HDFC Loan Cover Term Assurance Plan,
IV. HDFC Money Back Plan,
V. HDFC Personal Pension Plan,
VI. HDFC Single Premium Whole Of Life Plan,

VII. HDFC Term Assurance Plan,

VIII. HDFC Unit Linked Endowment,
IX. HDFC Unit Linked Endowment Plus,
X. HDFC Unit Linked Pension,
XI. HDFC Unit Linked Pension Plus,
XII. HDFC Unit Linked Young Star,
XIII. HDFC Unit Linked Young Star Plus

At HDFC Standard Life realize that not everyone has the same kind of
needs. Keeping this in mind, varied range of products that customer can
choose from to suit all needs. These will help secure customer future as
well as the future of family.

Protection Plans:
Customer can protect his family against the loss of his income or the burden of a
loan in the event of his unfortunate demise, disability or sickness. These plans
offer valuable peace of mind at a small price.
HDFC Standard Life Protection range includes Term Assurance Plan & Loan
Cover Term Assurance Plan.

Investment Plans:
HDFC Standard Life Single Premium Whole of Life plan is well suited to meet
long term investment needs. HDFC Standard Life provides with attractive long
term returns through regular bonuses.

Pension Plans:
HDFC Standard Life Pension Plans help secure financial independence even after
retirement. Pension range includes Personal Pension Plan, Unit Linked Pension,
and Unit Linked Pension plus Savings Plans.

Savings Plans:

HDFC Standard Life Savings Plans offer flexible options to build savings for
future needs such as buying a dream home or fulfilling children’s immediate and
future needs.

Group Products:
I. Group Term Insurance,
II. Group Variable Term Insurance,
III. Group Unit Linked Plan,
IV. Gratuity Group Unit Linked Plan,
V. Superannuation Group Unit Linked Plan ,
VI. Leave Encashment
PRODUCT PORTFOLIO

HDFC offers products as per the life stages of the customers and their respective
needs.
Your insurance need will change as your life does, from starting to work to
enjoying your golden years and all the stages in between. Each one of these stages
may pose a different insurance need/cover for you. In this section, we have
drawn up the basic life stages and help you analyze various insurance needs
accordingly.

LIFE STAGES & NEEDS IN HAT STAGES

STAGE 1: YOUNG & SINGLE

An important stage where one lays down the foundation of a

successful life ahead. Take advantage of the time and power of
compounding to ensure that you build up your dreams. Start savings early.

NEEDS:
 Save for Home & Wedding
 Tax Planning
 Save for Golden Years

STAGE 2: JUST MARRIED

Marriage brings about a significant change. New dreams and

new opportunities also bring in additional responsibilities.
While both of you look forward to a happy and secure life, it is
equally important to ensure that eventualities don’t come in the way of shaping
your dreams.

NEEDS:
 Planning for home / securing your home loan liability.
 Save for vacation.
 Save for your first child.

STAGE 3: PROUD PARENTS

Once you have children, your need for life insurance is even
more. You need to protect your family from an untoward
incident. Ensure your protection umbrella takes into account
the future cost of securing your child’s dream. You will want life to go on for your
loved ones, and having enough life insurance is a way to help ensure that.

NEEDS:
 Provide for children's education
 Safeguarding family against loan liabilities
 Savings for post-retirement

STAGE 4: PLANNING FOR RETIREMENT

While you are busy climbing the ladder of success today, it is

important for you to take time and plan for your life after retirement.
Having an early start for retirement planning can make a significant
difference to your savings. Think about your golden years even before you have reached
them. The key is to think ahead and plan well using your time and money.

NEEDS:
 Provide for regular income post retirement
 Immediate Tax benefits
 Lead a secure, independent and comfortable life style in your
retirement years.

COMPARITIVE ADVANTAGE OVER COMPETITORS

PRODUCT:

I. I compared two products, ICICI smart kid unit link and HDFC young star,
in both the policies parent is insured and child in nominee or beneficiary,

II. Both the policies contains same features, only additional rider is available
in smart kid is income benefit rider (IBR), how this rider works? this rider
comes in the picture when the parent expires or becomes permanent
disable at that time this rider pay 10% of sum assurance to nominee,

III. HDFC Young star offers Insurance Cover up to 20 Times of Annual

Premium. You may Pay Rs. 30000 per year & take Insurance Cover of Rs.
6 Lacks.

IV. You may take Critical Illness Rider in HDFC Young star up to 65 years
Age(as it Cheaper than other ULIPS ).
 V. The returns from HDFC TaxSaver, HDFC LT Advantage fund are better
than the returns from HDFC Standard Life Equity Fund.

VI. HDFC Standard ULIP Returns are over 70% in last 1 year.

VII. HDFC Young star with Maximum Insurance Cover of Rs.3.6 Lacks

2.3 MILESTONES IN THE HISTORY

I. HDFC is India’s leading housing finance institution and has helped build
more than 23, 00,000 houses since its incorporation in 1977.
II. In Financial Year 2003-04 its assets under management crossed Rs.36,
000Cr.
III. As at March 31, 2004, outstanding deposits stood at Rs. 7,840 corers. The
depositor base now stands at around 1 million depositors.
IV. Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year
V. Awarded The Economic Times Corporate Citizen of the year Award for its
long-standing commitment to community development.
VI. Presented the ‘Dream Home’ award for the best housing finance provider
in 2004 at the third Annual Outlook Money Awards
VII. HDFC Standard Life Insurance is the first private life insurance company
to be granted a license by IRDA
VIII. Rated as the "Best New Insurer - 2003" by Outlook Money magazine,
India’s number 1 personal finance magazine
IX. Rated by ‘Business world’ as ‘India’s Most Respected Private Life
Insurance Company’ in 2004.
X. Has the highest brand recall, close to 80% (Source: AC Neilson ORG
MARG, April 2005)
XI. Has one of the widest branch networks with offices in over 100 cities
servicing over 440 towns
 2.4 COLLABORATIONS & AFFILIATIONS: SUBSIDIARY
AND ASSOCIATE COMPANIES:

I. HDFC Bank
II. HDFC Mutual Fund
III. HDFC Standard Life Insurance Company
IV. HLSIL
V. HDFC Chubb General Insurance Company Ltd.
VI. Intel net Global Services Ltd.
VII. Other Companies Co-Promoted by HDFC
VIII. Financial Information with regard to Subsidiary Companies

1.1.1.1.1 BANCASSURANCE
1.1.1.1.2 GROUP PARTNERS
COMPANIES
QUALITY POLICY:

• SECURITY: Providing long term financial security to our policy

holders will be our constant endeavor. We will be doing this by offering life
insurance and pension products.
• TRUST: We appreciate the trust placed by our policy holders in us. Hence, we
will aim to manage their investments very carefully and live up to this trust.
• INNOVATION: Recognizing the different needs of our customers, we will
be offering a range of innovative products to meet these needs.

I. INTEGRITY
II. CUSTOMER CENTRIC
III. PEOPLE CARE “ONE FOR ALL AND ALL FOR ONE”
IV. TEAM WORK
V. JOY AND SIMPLICITY

2.8 ORGANIZATION CHART:

Chairman

MD

Zonal Manager
 Regional Manager

Retail Marketing Alternative Channel Operation Channel Human Resource

MMMarkeMMar

Territory Manager Team Manager HR Executive

Territory Manager

Branch Manager Branch Manager Operation Manager

Asst. B.M.
Channel Executive

Business Dev. Mgr.

Sales Dev. Mgr.

CHAPTER 3: RESEARCH OBJECTIVES & SCOPE OF

RESEARCH PROJECT

3.1 PROBLEM DEFINATION:

Recruit consultants were with good background human being and through
rigorous process of recruitment but still not able to perform up to the expectation
level of company, HR is not able to short out the problem why the performance is
not coming even after giving the full marketing support.

3.2 OBJECTIVES OF RESEARCH PROJECT:

PRIMARY OBJECTIVES:

I. To recruit more and more Financial Consultant and to promote the

benefits those are provided by HDFC Standard Life to its Financial
Consultants
II. To find the different way of recruiting and selecting the Financial
Consultants who can produce more and fruitful results.
III. To study awareness of the HDFC Standard life insurance

SECONDARY OBJECTIVES:
I. To determine the need and purpose of Financial Consultant.

II. To understand the deciding criteria for people to become Financial

Consultant.

III. To collect and analysis the information of prospect candidates in order to

make them appear in front of management so that they can be selected as
Financial consultant.
IV. To offer suggestions based upon the findings.

3.3 GEOGRAPHICAL SCOPE:

The same problem was with the all other branches of HDFC even out of the Pune
city. The management is conducting the same research on a big ground while my
contribution is tiny. Though my sample size and geographical area was defined
and confine to a particular territory but the application of output from the
research are going to be wide.

3.4 PROJECT SCOPE:

I. Market segmentation to find the potential consultants for HDFC-SLIC.

II. To customize benefit package for consultants and help them to overcome
their agency problem arising out of their sedentary nature of work.
III. Corporate marketing of this product.

CHAPTER 4: RESEARCH METHODOLOGY & LIMITATIONS

All the findings and conclusions obtained are based on the survey done in the
working area within the time limit. We tried to select the sample representative
of the whole group during my job training. We have collected data from
Chartered Accountants, Tax Consultants, Businessman, Share Brokers, Lawyers,
Working Professionals, House Wives and Retired Persons in New Delhi.

RESEARCH PLAN:

1. Preliminary Investigation: In which data on the situation surrounding

the problems shall be gathered to arrive at
I. The correct definition of the problem.
II. An understanding of its environment.

2. Exploratory Study: To determine the approximate area where the problem

lies.

4.1 RESEARCH DESIGN:

Research was initiated by examining the secondary data to gain insight into the
problem. By analyzing the secondary data, the study aim is to explore the short
comings of the present system and primary data will help to validate the analysis
of secondary data besides on unrevealing the areas which calls for improvement.

DEVELOPING THE RESEARCH PLAN:

The data for this research project has been collected through Self Administration.
Due to time limitation and other constraints direct personal interview method is
used. A structured questionnaire was framed as it is less time consuming,
generates specific and to the point information, easier to tabulate and interpret.
Moreover respondents prefer to give direct answers. In questionnaires open
ended and closed ended, both the types of questions has been used.

COLLECTION OF DATA:

1: Secondary Data: It was collected from internal sources. The secondary data
was collected on the basis of organizational file, official records, news papers,
magazines, management books, preserved information in the company’s
database and website of the company.
2: Primary data: All the Chartered Accountants, Tax Consultants, Insurance
Agents, Auto loan providers were personally visited and interviewed. They were
the main source of Primary data. The method of collection of primary data was
direct personal interview through a structured questionnaire.

4.2 SAMPLING PLAN:

Since it is not possible to study whole universe, it becomes necessary to take

sample from the universe to know about its characteristics.
i. Sampling Units: Chartered Accountants, Tax Consultants, Lawyers,
Business Man, Professionals and House Wives.
ii. Sample Technique: Random Sampling.
iii. Research Instrument: Structured Questionnaire.
iv. Contact Method: Personal Interview.

4.3 SAMPLE SIZE:

My sample size for this project was 200 respondents. Since it was not possible to
cover the whole universe in the available time period, it was necessary for me to
take a sample size of 200 respondents.

4.4 DATA COLLECTION INSTRUMENT DEVELOPMENT:

The mode of collection of data will be based on Survey Method and Field Activity.
Primary data collection is based on personal interview. I have prepared the
questionnaire according to the necessity of the data to be collected.

4.5 RESEARCH LIMITATIONS:

i. It was not possible to understand thoroughly about the different

marketing aspects of the Financial Consultant within 45 days.
ii. As stipend, money was not given it was difficult to continue the project
work.
iii. All the work was limited in some limited areas of Gwalior so the findings
should not be generalized.
iv. The area of research was Gwalior; it was too vast an area to cover within
45 days.

CHAPTER 5: DATA ANALYSIS, INTERPRETATION AND

PRESENTATION
1. Your Age?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 18-23 Years 40 20%
2 24-29 Years 70 35%
3 30-35 Years 60 30%
4 35 & above 30 15%
Total 200 100%
Base 200 respondents
GRAPH:-

Interpretation:-
From the table and graph above it can be seen that
 20% respondent’s age are 18 to 23 years.
 35% respondent’s age are 27 to 29 years.
 30% respondent’s age are 30 to 35 years.
 15% respondent’s age are 35 to above years.

2. Marital status?
TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Married 140 70%
2 Unmarried 60 30%
Total 200 100%
Base 200 respondents

GRAPH:-

Interpretation
From the table and graph above it can be seen that
 70% respondents are married.
 30% respondents are unmarried.

3. Educational Qualification?
TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Under graduate 50 25%
2 Graduate 80 40%
3 Post graduate 70 35%
Total 200 100%
 Base 200 respondents
GRAPH :-

Interpretation
From the table and graph above it can be seen that
 25% respondent’s are under graduate.

 40% respondents are Graduate.

 35% respondents are Post graduate.

4. Number of years in Gwalior?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Less than five years 78 39%
2 More than five years 122 61%
Total 200 100%
 Base 200 respondents

GRAPH:-

Interpretation
From the table and graph above it can be seen that
 39% respondent’s are in Gwalior is less than five years.
 61% respondent’s are in Gwalior is more than five years.

5. Your Occupation?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Business 40 20%
2 Profession 108 54%
3 Service 52 26%
Total 200 100%
 Base 200 respondents

GRAPH:-

Interpretation
From the table and graph above it can be seen that
 20% respondent’s Occupation is Business.
 26% respondent’s Occupation is Profession.
 54% respondent’s Occupation is Service.

6. Your annual household income?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Less than 2 lakhs. 98 49%
2 Between 2 to 5 lakhs 62 31%
3 Between 5to 8 lakhs 30 15%
4 More than 8 lakhs 10 5%
Total 200 100%
Base 200 respondents
GRAPH:-

Interpretation
From the table and graph above it can be seen that
 49% respondent’s annual household income is less than 2 lakhs.

 31% respondent’s annual household income is between 2 to 5 lakhs.

 15% respondent’s annual household income is between 5 to 8 lakhs.

 5% respondent’s annual household income is more than 8 lakhs.

7. Are you a member of a club/gymkhana?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 84 42%
2 No 116 58%
Total 200 100%
Base 200 respondents

GRAPH:-
Interpretation
From the table and graph above it can be seen that
 42% respondents are member of a club/gymkhana.

 58% respondents are not member of a club/gymkhana.

8. What is your perception about insurance sector?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Hard and lucrative 60 30%
2 Hard but not rewarding 18 9%
3 Smooth and rewarding 82 41%
4 No idea 40 20%
Total 200 100%
Base 200 respondents
GRAPH:-
Interpretation
From the table and graph above it can be seen that
 30% respondent’s perception about insurance sector is Hard &
lucrative.
 9% respondent’s perception about insurance sector is hard but not
rewarding.
 41% respondent’s perception about insurance sector is Smooth &
rewarding.
 20% respondent’s perception about insurance sector that they have no
idea.
9. Do you know about HDFC Standard Life Insurance?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 164 82%
2 No 36 18%
Total 200 100%
Base 200 respondents
GRAPH:-
Interpretation
From the table and graph above it can be seen that
 85% respondents are known about HDFC Standard life insurance.

 15% respondents are not known about HDFC Standard life insurance.

10. Do you have any Insurance Policy?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 160 80%
2 No 40 20%
Total 200 100%
Base 200 respondents

GRAPH:-
Interpretation
From the table and graph above it can be seen that
 80% respondent’s have insurance policy.

 20% respondents do not have insurance policy.

11. Name of Insurance Company?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 LICI 104 65%
2 ICICI 16 10%
3 HDFC SLIC 8 5%
4 OTHERS 32 20%
Total 160 100%
Base 160 respondents
GRAPH:-
Interpretation
From the table and graph above it can be seen that
 65% respondents are insured by LICI.
 10% respondents are insured by ICICI.
 5% respondent’s insured by HDFCSLIC.
 20% respondent’s insured by OTHERS.

12. Do you hold any license of any insurance company?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 70 35%
2 No 130 65%
Total 200 100%
Base 200 respondents
GRAPH:-
Interpretation
From the table and graph above it can be seen that
 35% respondents are holding license of any insurance company.
 65% respondents are not holding license of any insurance company.
13. Are you satisfied with the company?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 42 60%
2 No 28 40%
Total 70 100%
Base 70 respondents
GRAPH:-
Interpretation
From the table and graph above it can be seen that
 60% respondents are satisfied with their insurance company.
 40% respondents are not satisfied with their insurance company.

14. Do you know about HDFC Standard Life Insurance recruitment

policies related to financial consultant?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 82 41%
2 No 118 59%
Total 200 100%
Base 200 respondents

GRAPH:-
Interpretation
From the table and graph above it can be seen that
 41% respondents are known about HDFC Standard Life Insurance
recruitment policies related to financial consultant.
 59% respondents are not known about HDFC Standard Life Insurance
recruitment policies related to financial consultant.
15. Will you be interested to become Financial Consultant?
TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 60 30%
2 No 140 70%
Total 200 100%
Base 200 respondents

GRAPH:-

Interpretation
 From the table and graph above it can be seen that
 30% respondents are interested to become financial consultant.
 70% respondents are not interested to become financial consultant.
16. Would you like to earn an additional income through a business
opportunity with HDFC STANDARD LIFE?

TABLE:-
Sr. No. Category No. of Respondents Percentage
1 Yes 54 90%
2 No 6 10%
Total 60 100%
Base 60 respondents

GRAPH:-

Interpretation
 From the table and graph above it can be seen that
 90% respondents are interested to earn additional income.
 10% respondent’s are not interested to earn additional income

CHAPTER 6: CONCLUSIONS & SUGGESTIONS

6.1 CONCLUSIONS:

HDFC Standard Life, the insurance arm of HDFC is expected to go on stream.

Promoted by HDFC & Standard Life, already has good number of employees on
board and is recruiting Financial Consultants heavily to take the headcount to
many more. It is on the brim of increasing its client through its attractive
schemes and offer.
The project opportunities provided was market segmentation and identifying
prospective clients in potential geographical location and for recruiting them as
financial consultant so to explore new Business Opportunity.

Through this project, it could be concluded that people are not much aware
about the various benefit of being Financial Consultant that are currently
prevailing in the insurance industry.

Insurance was considered as unsought good which require hard core selling, but
in changing trend in income and people becoming financially literate, the
demand for insurance is increasing day by day. So, it is the company that first
approaches gets its share of reward. Proper after sale service can help the
advisors to generate more business. Gradually people are realizing the fact that
insurance is not a necessary evil but means to attain worry free life.

This activity much attracts unemployed people as for them a source of income is
a great help for developing their future. Company’s promotional activities for
recruiting Financial Consultant are also very less.

So, at last the conclusion is that there is tough competition ahead for the
company from its major competitors in terms of number of Financial
Consultants.
Last but not the least I would like to thank HDFC SLIC for giving me an
opportunity to work in the field of Financial Consultant. I hope the company
finds my analysis relevant.

6.2 SUGGESTIONS:

Finally some recommendations for the company are as follows:-

  To make people aware about the benefit of becoming HDFC Standard
Life’s Financial Consultant, following activities of advertisement should be
done through
I. Print Media
II. Hoarding & Banners
III. Stalls in Trade Fares

IV. Distribution of leaflets containing details information

V. Company can recruit sales promoters so that maximum

information can be provided to the potential client.

 By showing additional and alternative income source along with various

schemes for Financial Consultant in the company so that more and more
FC can be recruited
 Free life cover for every active Financial Consultant.

 Discounted rate premium for its family members

 Make people understand about the meaning of the IRDA authorization

and its validity.
 Company should organize the program in the society, so that people will
be aware about the company

 Separate time slot for Working Professionals, House Wives and Retired
people
 Agency of non-life products should also be provided along with life.
 Company should open more branches in different cities

CHAPTER 7: LIMITATIONS
Every work has its own limitation. Limitations are extent to which the process
should not exceed. Limitations of this project are:-
 i. The project was constrained by time limit of one and half months.
ii. Mindset of people may vary depending upon their age, gender, income etc.
iii. Getting appointment from the concern person was very difficult.
iv. People mind set about the survey was an obstacle in acquiring complete
information & positive interaction.
v. Respondents were very busy in their schedule.

ANNEXURES

QUESTIONNAIRE

Dear Sir/Madam,

I am a student of BVM College of Management education, Gwalior and

presently doing a market survey “MARKET RESEARCH ON FINANCIAL
Name: ………………………………………………………………………..
Address: ……………………………………………………………………..
Contact No :®………………( O)……………… (M)………………………
City: ………...............Pin: ………………….State: ……………………….
CONSULTANTS FOR HDFC-SLIC. I request you to kindly fill the questionnaire
below and I assure you that the data

Generated shall be kept confidential.

1. Your Age: ____________________

2. Education Qualification.

• Undergraduate □
• Graduate □
• Post graduate □

3. Marital Status.
• Married □
• Single □
No. of Children: __________

4. Number of years in New Delhi

• Less than five year’s □
• More than five year’s □

5. Occupation.
• Business □
• Profession □
• Service □
 (Please mention below the type of business/profession you are in incase of
service please mention your organization name and designation)

6. Your annual household income.

• <than 2 lack □
• Between 2 to 5 lack □
• Between 5 to 8 lack □
• >than 8 lack □

7. Are you a member of a club/gymkhana?

• Yes □
• No □

If yes, Name of the club

/gymkhana_______________________________________

8. What is your perception about insurance sector?

• Hard &lucrative □
• Hard but not rewarding □
• Smooth &rewarding □
• No idea □

9. Do you know about HDFC SLIC?

 • Yes □
• No □

10. Do you have any insurance policy?

• Yes □
• No □

11. Name insurance company?

• LIC □ ICICI

• HDFC SLIC □ OTHERS

If others, please
specify___________________________________________________

12. Do you hold any license of any insurance company?

• Yes □
• No □
If yes, please specify which
company________________________________________

Reason_________________________________________________
_____________
13. Are you satisfied with the company?
 • Yes □
• No □
Reason
specify___________________________________________________
______
14. Do you know about HDFC SLIC’s recruitment policies related to financial
consultant?

• Yes □
• No □
15. Will you be interested to become financial consultant?

• Yes □
• No □

16. Would you like to earn an additional income through a business opportunity
with HDFC STANDARD LIFE?

• YES □
• NO □

17. If yes, how many hours in a week can you commit for this business
opportunity?
_____________________________________________________
_________________

Date:
Place: Signature
Thank You

BIBLIOGRAPHY

1.BOOKS AUTHORS
 Marketing Management (10th Edition) Philip Kotler
 Marketing Management (3rd Edition) V.S. Ramaswamy
 Research Methodology (2nd Edition) C.R.Kothary
 Research Methodology S.P. Kasande

2. NEWS PAPERS
 Times of India
 Financial Express

3. WEBSITES

 www.hdfcinsurance.com
 www.irda.com
 www.google.com