HDFC Final

HDFC STANDARD LIFE INSURANCE, PUNE
CHAPTER 1: INTRODUCTION
1.1 THE TOPIC: “MARKET RESEARCH ON FINANCIAL CONSULTANT FOR

HDFCSLIC, PUNE”
At HDFC Standard Life Insurance, I was 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.
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SURYADATTA INSTITUTE OF MANAGEMENT AND MASS COMMUNICATION, PUNE
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:
• The process of recruitment of HDFC STANDARD LIFE INSURANCE LTD.

• How is the training given?
• What are the criteria of selection?
• The culture of insurance company particularly of HDFC.
• What are the problems faced by these financial consultants on daily basis?
• How to convince and convert the prospect client into real client?
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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 crores.
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
crores. The net worth of the corporation as on March 31, 2000 stood at Rs. 2,096 crores.
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:
a) Develop close relationships with individual households.
b) Maintain its position as the premier housing finance institution in the country.
c) Transform ideas into viable and creative solutions.
d) Provide consistently high returns to shareholders.
e) To grow through diversification by leveraging off the existing client base.
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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.
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STANDARD LIFE GROUP:
• The Standard Life group has been looking after the financial needs of customers for
over 182 years
• 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
• Its investment manager currently administers £125 billion in assets
• 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
• Standard Life was awarded the 'Best Pension Provider' in 2004, 2005 and 2006 at
the Money Marketing Awards, and
• It was voted a 5 star life and pension’s provider at the Financial Adviser Service
Awards for the last 10 years running.
• 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.
• Standard Life Bank was awarded the 'Best Flexible Mortgage Lender' at the
Mortgage Magazine Awards in 2006.
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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 realised
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.
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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.
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Individual Products:
1. HDFC Children's Plan,
2. HDFC Endowment Assurance Plan,
3. HDFC Loan Cover Term Assurance Plan,
4. HDFC Money Back Plan,
5. HDFC Personal Pension Plan,
6. HDFC Single Premium Whole Of Life Plan,
7. HDFC Term Assurance Plan,
8. HDFC Unit Linked Endowment,
9. HDFC Unit Linked Endowment Plus,
10. HDFC Unit Linked Pension,
11. HDFC Unit Linked Pension Plus,
12. HDFC Unit Linked Young Star,
13. 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.
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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:
1. Group Term Insurance,
2. Group Variable Term Insurance,
3. Group Unit Linked Plan,
4. Gratuity Group Unit Linked Plan,
5. Superannuation Group Unit Linked Plan ,
6. Leave Encashment
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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

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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 saving 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
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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.
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COMPARITIVE ADVANTAGE OVER COMPETITORS PRODUCT:
• 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,
• 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,
• HDFC Youngstar offers Insurance Cover upto 20 Times of Annual Premium. You
may Pay Rs. 30000 per year & take Insurance Cover of Rs. 6 Lacs.
• You may take Critical Illness Rider in HDFC Youngstar upto 65 years Age(as it
Cheaper than other ULIPS ).
• The returns from HDFC Taxsaver, HDFC LT Advantage fund are better than the
returns from HDFC Standard Life Equity Fund.
• HDFC Standard ULIP Returns are over 70% in last 1 year.
• HDFC Youngstar with Maximum Insurance Cover of Rs.3.6 Lacs
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2.3 MILESTONES IN THE HISTORY
• HDFC is India’s leading housing finance institution and has helped build more than
23, 00,000 houses since its incorporation in 1977.
• In Financial Year 2003-04 its assets under management crossed Rs.36,000Cr.
• As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The depositor
base now stands at around 1 million depositors.
• Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year
• Awarded The Economic Times Corporate Citizen of the year Award for its long-
standing commitment to community development.
• Presented the ‘Dream Home’ award for the best housing finance provider in 2004 at
the third Annual Outlook Money Awards
• HDFC Standard Life Insurance is the first private life insurance company to be
granted a license by IRDA
• Rated as the "Best New Insurer - 2003" by Outlook Money magazine, India’s
number 1 personal finance magazine
• Rated by ‘Business world’ as ‘India’s Most Respected Private Life Insurance
Company’ in 2004.
• Has the highest brand recall, close to 80% (Source: AC Neilson ORG MARG, April
2005)
• Has one of the widest branch networks with offices in over 100 cities servicing over
440 towns
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2.4 COLLABORATIONS & AFFILIATIONS:
SUBSIDIARY AND ASSOCIATE COMPANIES:
• HDFC Bank
• HDFC Mutual Fund
• HDFC Standard Life Insurance Company
• HLSIL
• HDFC Chubb General Insurance Company Ltd.
• Intelnet Global Services Ltd.
• Other Companies Co-Promoted by HDFC
• Financial Information with regard to Subsidiary Companies
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BANCASSURANCE
GROUP COMPANIES PARTNERS
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2.5 HEAD OFFICES AND BRANCHES

HEAD OFFICE: HDFC Standard Life Insurance Co. Ltd.
'Trade Star', 2nd floor,’A’Wing,
Junction of Kondivita and M.V. Road,
Andheri-Kurla Road,
Andheri (East), Mumbai - 400 059.
PHONE: (Board) (022) 2822 0055 / 6751 6666
Fax: 2822 9998 / 2822 2414
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BRANCH LOCATIONS SITE MAP:
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2.6 TABLE OF FINANCIAL FIGURES:
PARAMETERS APR-MAR APR-MAR

GROWTH (%)
2004-05 (Rs.Cr) 2005-06 (Rs.Cr)
Total received premium 668.40 1532.21 129.23

New business 486.15 1028.94 111.65
Renewal 182.25 503.27 103.47
Effective Premium Income
436.08 887.30 103.47
(Total)
Group Business Premium (EPI) 49.40 135.15 173.58
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2.7 QUALITY POLICY:
• SECURITY: Providing long term financial security to our policy holders will be
our constant endeavor. We will be do 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.
• INTEGRITY
• CUSTOMER CENTRIC
• PEOPLE CARE “ONE FOR ALL AND ALL FOR ONE”
• TEAM WORK
• JOY AND SIMPLICITY
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2.8 ORGANIZATION CHART:
Chairman
MD
Zonal Manager
Regional Manager
Retail Marketing Alternative Chanel Operation Chanel Human Resource

MMMarkeMMar
Territory Manager Territory Manager Team Manager HR Executive
Branch Manager Branch Manager Operation Manager
Asst. B.M. Channel Executive
Business Dev. Mgr.
Sales Dev. Mgr.
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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:
• To recruit more and more Financial Consultant and to promote the benefits those are
provided by HDFC Standard Life to its Financial Consultants
• To find the different way of recruiting and selecting the Financial Consultants who
can produce more and fruitful results.
• To study awareness of the HDFC Standard life insurance
SECONDARY OBJECTIVES:
• To determine the need and purpose of Financial Consultant.

• To understand the deciding criteria for people to become Financial Consultant.
• 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.
• To offer suggestions based upon the findings.
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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 out put from the research are going to be wide.
3.4 PROJECT SCOPE:
• Market segmentation to find the potential consultants for HDFCSLIC.

• To customize benefit package for consultants and help them to overcome their
agency problem arising out of their sedentary nature of work.
• Corporate marketing of this product.
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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. I tried to select the sample representative of the whole
group during my job training. I have collected data from Chartered Accountants, Tax
Consultants, Businessman, Share Brokers, Lawyers, Working Professionals, House Wives
and Retired Persons in Pune.
RESEARCH PLAN:
1. Preliminary Investigation: In which data on the situation surrounding the problems

shall be gathered to arrive at
• The correct definition of the problem.
• 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.
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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 companies 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.
• Sampling Units: Chartered Accountants, Tax Consultants, Lawyers, Business Man,

Professionals and House Wives of Pune.
• Sample Technique: Random Sampling.
• Research Instrument: Structured Questionnaire.
• 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.
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4.4 DATA COLLECTION INSTRUMENT DEVELOPMENT:
The mode of collection of data will be based on Survey Method and Field Activity.
Primary data collection will based on personal interview. I have prepared the questionnaire
according to the necessity of the data to be collected.
4.5 RESEARCH LIMITATIONS:
• It was not possible to understand thoroughly about the different marketing aspects
of the Financial Consultant within 60 days.
• As stipend, money was not given it was difficult to continue the project work.
• All the work was limited in some limited areas of Pune so the findings should not be
generalized.
• The area of research was Pune; It was too vast an area to cover within 60 days.
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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.
 15% respondent’s age are 35 to above years.
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2. Marital status?
TABLE
1 Married 140 70%
2 Unmarried 60 30%
Total 200 100%
GRAPH
Interpretation
 70% respondent’s are married.
 30% respondent’s are unmarried.
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3. Educational Qualification?
TABLE
1 Under graduate 50 25%
2 Graduate 80 40%
3 Post graduate 70 35%
Total 200 100%
GRAPH
Interpretation
 25% respondent’s are Under graduate.
 40% respondent’s are Graduate.
 35% respondents are Post graduate.
4. Number Of year’s Are You in Pune?
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TABLE
1 Less than five years 78 39%
2 More than five years 122 61%
Total 200 100%
GRAPH
Interpretation
 39% respondent’s are in Pune is less than five year’s.
 61% respondent’s are in Pune is more than five year’s.
5. Your Occupation?
TABLE
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1 Business 40 20%
2 Profession 108 54%
3 Service 52 26%
Total 200 100%
GRAPH
Interpretation
 20% respondent’s Occupation is Business.
 26% respondent’s Occupation is Profession.
 54% respondent’s Occupation is Service.
6. Your annual household income?
TABLE
1 Less than 2 lacs 98 49%
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2 Between 2 to 5 lacs 62 31%

3 Between 5to 8lacs 30 15%
4 More than 8 lacs 10 5%
Total 200 100%
GRAPH
Interpretation
 49% respondent’s annual household income is less than 2 lacs.
 31% respondent’s annual household income is between 2 to 5 lacs.
 15% respondent’s annual household income is between 5 to 8 lacs.

 5% respondent’s annual household income is more than 8 lacs.
7. Are you a member of a club/gymkhana?
TABLE
1 Yes 84 42%
2 No 116 58%
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Total 200 100%

GRAPH
Interpretation
 42% respondent’s are member of a club/gymkhana.
 58% respondent’s are not member of a club/gymkhana.
8. What is your perception about insurance sector?
TABLE
1 Hard and lucrative 60 30%
2 Hard but not rewarding 18 9%
3 Smooth and rewarding 82 41%
4 No idea 40 20%
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Total 200 100%

GRAPH
Interpretation
 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
1 Yes 164 82%
2 No 36 18%
Total 200 100%
GRAPH
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Interpretation
 85% respondent’s are known about HDFC Standard life insurance.
 15% respondent’s are not known about HDFC Standard life insurance.
10. Do you have any Insurance Policy?
TABLE
1 Yes 160 80%
2 No 40 20%
Total 200 100%
GRAPH
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Interpretation
 80% respondent’s have insurance policy.
 20% respondent’s do not have insurance policy.
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11. Name of Insurance Company?
TABLE
1 LICI 104 65%
2 ICICI 16 10%
3 HDFC SLIC 8 5%
4 OTHERS 32 20%
Total 160 100%
GRAPH
Interpretation
 65% respondent’s are insured by LICI.
 10% respondent’s are insured by ICICI.
 5% respondent’s insured by HDFCSLIC.
 20% respondent’s insured by OTHERS.
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12. Do you hold any license of any insurance company?
TABLE
1 Yes 70 35%
2 No 130 65%
Total 200 100%
GRAPH
Interpretation
 35% respondent’s are holding license of any insurance company.
 65% respondent’s are not holding license of any insurance company.
13. Are you satisfied with the company?
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TABLE
1 Yes 42 60%
2 No 28 40%
Total 70 100%
Base 70 respondents
GRAPH
Interpretation
 60% respondent’s are satisfied with their insurance company.
 40% respondent’s are not satisfied with their insurance company.
14. Do you know about HDFC Standard Life Insurance recruitment policies related to
financial consultant?
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TABLE
1 Yes 82 41%
2 No 118 59%
Total 200 100%
GRAPH
Interpretation
 41% respondent’s are known about HDFC Standard Life Insurance recruitment
policies related to financial consultant.
 59% respondent’s are not known about HDFC Standard Life Insurance recruitment
policies related to financial consultant.
15. Will you be interested to become Financial Consultant?
TABLE
1 Yes 60 30%
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2 No 140 70%
Total 200 100%
GRAPH
Interpretation
 30% respondent’s are interested to become financial consultant.
 70% respondent’s are not interested to become financial consultant.
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16. Would you like to earn an additional income through a business opportunity with HDFC
STANDARD LIFE?
TABLE
1 Yes 54 90%
2 No 6 10%
Total 60 100%
Base 60 respondents
GRAPH
Interpretation
 90% respondent’s are interested to earn additional income.
 10% respondent’s are not interested to earn additional income
CHAPTER 6: CONCLUSIONS & SUGGESTIONS
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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 attract unemployed people as for them a source of income is a
great help for developing there 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 SLI for giving me an opportunity
to work in the field of Financial Consultant. I hope the company finds my analysis relevant.
SUGGESTIONS:
Finally some recommendations for the company are as fallows:-
_________________________________________________________________________
43
 To make people aware about the benefit of becoming HDFC Standard Life’s
Financial Consultant, following activities of advertisement should be done through
1. Print Media.
2. Hoarding & Banners.
3. Stalls in Trade Fares
4. Distribution of leaflets containing details information.
5. 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
 Separet 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
_________________________________________________________________________
44
CHAPTER 7: LIMITATIONS
Every work has its own limitation. Limitations are extent to which the process
should not exceed. Limitations of this project are:-
 The project was constrained by time limit of two months.

 Mindset of people may very depending upon their age, gender, income etc.
 Getting appointment from the concern person was very difficult.
 People mind set about the survey was an obstacle in acquiring complete
information & positive interaction.
 Respondents were very busy in their schedule. So it was very time taken in
every
Questionnaire response by them.
_________________________________________________________________________
45
ANNEXURES
1. QUESTIONNAIRE
QUESTIONNAIRE
_________________________________________________________________________
46
Dear Sir/Madam,
I am a student of Suryadatta Institute of Management and Mass Communication,

Pune and presently doing a market survey “MARKET RESEARCH ON FINANCIAL
CONSULTANTS FOR HDFCSLIC, PUNE”. I request you to kindly fill the questionnaire
below and I assure you that the data generated shall be kept confidential.
.
Name: ………………………………………………………………………..
Address: ……………………………………………………………………..
Contact No :®………………( O)……………… (M)………………………
City: ………...............Pin: ………………….State: ……………………….

1. Your Age: ____________________
2. Education Qualification.
• Undergraduate □
• Graduate □
• Post graduate □
3. Marital Status.
• Married □
• Single □
No. of Children: __________
4. Number Of year’s Are You in Pune.
• Less than five year’s □

• More than five year’s □
5. Occupation.
• Business □
_________________________________________________________________________
47
• 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?
_________________________________________________________________________
48
• Yes □
• No □
10.Do you have any insurance policy?
• Yes □
• No □
11.Name insurance company?
• LICI □ 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 □
_________________________________________________________________________
49
• 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
_________________________________________________________________________
50
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
_________________________________________________________________________
51

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HDFC STANDARD LIFE INSURANCE, PUNE

1.1 THE TOPIC: “MARKET RESEARCH ON FINANCIAL CONSULTANT FOR

1.2 REASON FOR SELECTION OF THIS TOPIC:

1.3 IMPORTANCE TO THE COMPANY:

1.4 LEARNING FROM THE STUDY:

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

CHAPTER 2: ORGANIZATIONAL PROFILE

1.1 FORMATION OF COMPANY:

HOUSING DEVELOPMENT FINANCE CORPORATION:

HDFC’s main goals are to:

a) Develop close relationships with individual households.

c) Transform ideas into viable and creative solutions.

d) Provide consistently high returns to shareholders.

e) To grow through diversification by leveraging off the existing client base.

STANDARD LIFE ASIA LIMITED/JOINT VENTURES:

STANDARD LIFE GROUP:

INCORPORATION OF HDFC STANDARD LIFE INSURANCE CO. LTD.:

2.2 PRODUCT SCOPE:

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

LIFE STAGES & NEEDS IN HAT STAGES

STAGE 1: YOUNG & SINGLE

STAGE 2: JUST MARRIED

Marriage brings about a significant change. New dreams and new

STAGE 3: PROUD PARENTS

STAGE 4: PLANNING FOR RETIREMENT

COMPARITIVE ADVANTAGE OVER COMPETITORS PRODUCT:

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

• HDFC Youngstar with Maximum Insurance Cover of Rs.3.6 Lacs

2.3 MILESTONES IN THE HISTORY

2.4 COLLABORATIONS & AFFILIATIONS:

SUBSIDIARY AND ASSOCIATE COMPANIES:

2.5 HEAD OFFICES AND BRANCHES

BRANCH LOCATIONS SITE MAP:

2.6 TABLE OF FINANCIAL FIGURES:

PARAMETERS APR-MAR APR-MAR

Total received premium 668.40 1532.21 129.23

2.7 QUALITY POLICY:

2.8 ORGANIZATION CHART:

Retail Marketing Alternative Chanel Operation Chanel Human Resource

Territory Manager Territory Manager Team Manager HR Executive

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:

3.2 OBJECTIVES OF RESEARCH PROJECT:

• To determine the need and purpose of Financial Consultant.

3.3 GEOGRAPHICAL SCOPE:

3.4 PROJECT SCOPE:

• Market segmentation to find the potential consultants for HDFCSLIC.

CHAPTER 4: RESEARCH METHODOLOGY & LIMITATIONS

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

4.1 RESEARCH DESIGN:

DEVELOPING THE RESEARCH PLAN:

4.2 SAMPLING PLAN:

• Sampling Units: Chartered Accountants, Tax Consultants, Lawyers, Business Man,

4.3 SAMPLE SIZE:

4.4 DATA COLLECTION INSTRUMENT DEVELOPMENT:

4.5 RESEARCH LIMITATIONS:

CHAPTER 5: DATA ANALYSIS, INTERPRETATION AND PRESENTATION

 40% respondent’s are Graduate.