7/31/2019 Jk Risk Kashish

1/19

By: Kashish Srivastava1528

7/31/2019 Jk Risk Kashish

2/19

The JK Group

JKOrganization

JK Tyres

JK Papers

JK Seeds

JK LaxmiCement

JK Sugar

JK Fenner

JK Dairy& Foods

JKRMIBL

7/31/2019 Jk Risk Kashish

3/19

Competitors

IRDA has till now provided registration to 12 Private LifeInsurance companies and 9 General Insurance companies.

LIFE INSURERS GENERAL INSURERS

Public Sector Public Sector

Life Insurance Corporation of India National Insurance Company Limited

Private Sector New India Assurance Company Limited

Allianz Bajaj Life Insurance Company Limited Oriental Insurance Company Limited

Birla Sun-Life Insurance Company Limited United India Insurance Company Limited

HDFC Standard Life Insurance Co. Limited Private Sector

ICICI Prudential Life Insurance Co. Limited Bajaj Allianz General Insurance Co. Limited

ING Vysya Life Insurance Company Limited ICICI Lombard General Insurance Co. Ltd.

Max New York Life Insurance Co. Limited IFFCO-Tokio General Insurance Co. Ltd.

MetLife Insurance Company Limited Reliance General Insurance Co. Limited

Om Kotak Mahindra Life Insurance Co. Ltd. Royal Sundaram Alliance Insurance Co. Ltd.

SBI Life Insurance Company Limited TATA AIG General Insurance Co. Limited

TATA AIG Life Insurance Company Limited Cholamandalam General Insurance Co. Ltd.

AMP Sanmar Assurance Company Limited Export Credit Guarantee Corporation

7/31/2019 Jk Risk Kashish

4/19

Products & Services

GeneralInsurance

LifeInsurance

ClaimManagement

RiskManagement

7/31/2019 Jk Risk Kashish

5/19

Other Services

JK Risk is also doing CROP Insurance for the

past four years successfully.

And now from the present year, JK Risk has

got the opportunity to promote the Govt.

project i.e. Swavalamban with the help of

Saptrishi Consultancy Service Ltd.

Saptrishi Consultancy Service Ltd. creates

Distribution network for JK Risk Managers.

7/31/2019 Jk Risk Kashish

6/19

About Swavalamban

Govt. of India has introduced a Pension solution for

the citizen of India which is under NPS.

It is designed to provide regular old age income from

age of 60 till death.

It is based on Defined Contribution system.

Services will be offered to individual subscriber

through Aggregators.

7/31/2019 Jk Risk Kashish

7/19

Benefits under scheme

Under the scheme, govt. will contribute Rs.

1000 per year to each NPS account.

The benefit will be available only to person

who join the NPS with a minimum

contribution of Rs.1,000 & maximum

Rs.12,000 per annum.

7/31/2019 Jk Risk Kashish

8/19

Statement of problem

In the Implication of PFRDA (Pension Fund

Regulatory Development Authority) we have

to give presentations to those eager

aggregators regarding the pension schemes so

that they can get people enrolled in that

pension policy availed by the govt. of India.

7/31/2019 Jk Risk Kashish

9/19

Objectives

To spread the awareness of the special scheme

available for the citizen of India by the govt. of

India regarding the old age income.

Safe & reasonable market based returns over

the long term.

Extending old age security coverage to all

citizen.

7/31/2019 Jk Risk Kashish

10/19

On the job training

My training was started on 7th of May and

ended on 21st of June.

In Six weeks training in JK Risk Managers,

1. First three weeks, we had to go to different

places to create Sub-Aggregators; the sub-

aggregators are subscriber interface.

2. And in the last three weeks, we had to sell the

policies by our own.

7/31/2019 Jk Risk Kashish

11/19

1st Week

In the first week, I covered the local areas of

Kanpur City. My mentor told me that we need

to give full detailing of the plan to the willing

aggregator as he will be the front interface to

the subscribers.

7/31/2019 Jk Risk Kashish

12/19

2nd Week

In second week, I covered the nearby areas of

Lucknow-Unnao.

After creating Sub-aggregators in Kanpur City,

my mentor told me to solve the queries

regarding the scheme and to tell them how

they can gain more benefits.

7/31/2019 Jk Risk Kashish

13/19

3rd Week

After successfully creating aggregators inKanpur-Lucknow areas, I went to cover theEastern area of U.P.

The major cities and villages I covered wereAllahabad, Jaunpur & Sujanganj area.

The main difficulty I found there was that LIC

has already covered those area as JK Risk hasrecently got this project and LIC is workingthere for last 3 years.

7/31/2019 Jk Risk Kashish

14/19

4th Week

After creating the Sub-aggregators for the

company in my past 3 weeks of training, we

were assigned to sell those policies by our

own.

In this task, we learnt how actually people

arent willing to invest their money even if it is

for the future.

7/31/2019 Jk Risk Kashish

15/19

5th Week

Interacting with lower segment people in 4th

week and not getting proper responses, we

moved to middle class segment.

The most important problem was Ignorance.

Some were responding in proper manner, and

some were totally ignorant.

Moving to middle class segment shown much

better result than previous.

7/31/2019 Jk Risk Kashish

16/19

6th Week

This was almost the end of my training, and in

this week we summarized all the Sub-

Aggregators created by us and the policy sold

by us.

We collected the KYC documents from the

policy holders and the signed Stamp Papers

with the agreement from the sub-Aggregators.

7/31/2019 Jk Risk Kashish

17/19

Learning's

During the project with JK Risk Managers andInsurance Brokers Ltd. no. of things learnt byme:

Various aspects of the Insurance products.Most importantly I got the practical experience

of consumer behavior.

I learn how to motivate the customer towardsthe benefit gained by them in our pensionschemes.

7/31/2019 Jk Risk Kashish

18/19

Recommendation

There is not any regional and local office in

different cities; this is the main drawback of

the company.

Because of no local and regional branches,

reaching would be more difficult in order to

compete with the rivals in coming future.

7/31/2019 Jk Risk Kashish

19/19

Thank You For Your

Kind Attention!!