Internship on how to maximize sales of insurance products

Internship on how to maximize sales of insurance products

1. By: - MANAV CHOUDHARY B.Sc. (Actuarial science) A2883117036 3 rd year (5th semester) Internship on How to maximize sale of insurance products

2. Insurance products An Insurance product refers to a contract between the insured and the insurer in which the insured pays premium for specific benefits promised by the insurer at happening of a certain event. Types of Insurance: - General insurance: consist of policies like health insurance, motor car insurance, travel insurance, etc. These policies are of short time period usually 1 year. Life insurance: consists of life insurance policies in which sum assured is paid at death or maturity, depending on the terms and conditions of the policy.

3. Conclusion In my internship I learned effective ways to communicate with clients, also I learned the different procedures that we have to follow for the claim and renewal process of different policies. Also I learned that LIC is the leading life insurance company in India. As it is one of the oldest life insurance company in India and provides policies with death and maturity benefit along with share of the profits that the company makes. Insurance sector in India is starting to pick up pace as by increased awareness of health insurance and its significance in an individual’s daily life. So, in order to maximize the sale of insurance products as an agent we have to see the prospective client’s requirement and offer them such a policy that fulfills their requirement. The government is also helping the sector grow by allowing 100% FDI in Insurance sector, initially it was 27% then it increased to 45% and now it is increased to 100%. This means that more companies are going to enter the insurance industry of India and consumers will have a larger variety of products to choose from.

4. THANK YOU