Executive Summary

Reliance Life Insurance, launched on 1st February 2006 is now the third largest private player in a span of just 5 years. Unlike most insurance players, they have shown exceptional growth without the backing of a retail bank. They are also the only Indian company among the private life insurance players. They boost of 1145 branches, 195000 advisors and over 16000 employees. This aggressive growth is possible only with in-depth knowledge of products and excellence in service. Reliance is certified ISO 9001:2000 for all processes. The project undertaken by me was to recruit financial advisors and market the right kind of products to the clients and maintain a relationship with their client over time. As a financial Advisor, we need to solicit business in the form of investments towards Life Insurance from their customers. Basic responsibility of a financial advisor is to: Identify Prospects Analyze and identify their needs Plan your customers finances Offer the right kind of product Close the sale Seek referrals Maintain a relationship with your client over time In the present system, the company has different levels which offers rewards, depending upon the number of polices sold by the advisors. Reliance life Insurance is the only company that gives basic salary+ commission + travelling expenses to their financial advisors. It helps them build their business with zero capital, enjoy the benefit of residual income, have flexible working hours, gives attractive commission , exciting recognition programs, association with a strong

brand- Reliance and most of all capitalize on the growing insurance market. The basic requirements to be a financial advisor are: 12th pass Be a resident of Mumbai for the past 3 years. Clear the exam by IRDA to get the license to act as an insurance agent Provide documents such as : education proof, age proof, address proof Pay fees of Rs.825 towards obtaining the license. For the marketing of products through financial advisors small leaflets were given inside newspapers which were circulated in and around Lokandwala Andheri. This was done to give people an opportunity for finding work at their doorstep and to build their business with zero capital. Another 2 day activity that I did during my summer internship was with Plus investments which is one of the financial advisor of the company. I basically had to make service calls to the existing customers asking them if they needed any kind of service regarding the investments that they had made or the polices that they had purchased from them. From this particular activity I learnt that to be a good insurance agent you need to be in constant touch with your customers and regularly keep updating them with new and exciting offers so that they are aware of them and thus it can help you build your business. While making those phone calls there were a lot of people who had issues with the policies that they had bought, some were not given adequate information, some people had not received their receipts and some were not aware of the new portfolio that had come out in the market. The market has become really competitive and to stay in the market reliance has done a fabulous job. They give regular training to the employees, they have excellent products (wide range), robust customer support and service, attractive

incentives and contests, appropriate media support (press and collaterals) and management support.

Methodology
The data enclosed gives detailed information of the customers who were contacted for the role of financial advisors. These customers were found by me and some were given by the company. There were 200 customers. Out of which some names and numbers are mentioned below.

Name Mr. Arvind Kumar Mr. Dinesh Podar Mr. Hemant Kanokia Mrs.Mina Sanghavi Mr. Atul Tanna Mr. Girish Parekh Mr. Dileep M Mr. Sandeep Mr. Sankara Mrs. Asha V Mr. Gaurav Ms. Chaulla Mr.Sunil Mr. Rajendra Mr. Mukesh Mr. Pulindra Mr. Mahesh Mr. Purvi Mehta Mr. Santosh Mr. Mahesh Mr. Niraj Mrs. Sandhya

Phone number 9967077488 9821036865 9869043600 9819290160 9820613199 9821223340 9892219619 9820348409 9821333850 9869504684 9820509719 9820341576 9821074358 9820425656 9821432925 9821078943 98220024771 9821299909 0226712538 9821164184 9820594996 982035003

Questionnaire
Name: Age: 20-25, 25-30, 30-35, 35- 40, 40-45. 45-50 Tel no: Email Id: Occupation o Business o Service Would you like to earn extra income with your regular work? o Yes o No Are you aware of Reliance Life Insurance Co Ltd? o Yes o No Would you like to be associated with Reliance life insurance as a business partner? o Yes o No Who according you is a financial advisor? o Helps in financial planning and production o Is a friend in need o Someone you can rely and trust on o All of the above