A

SUMMER TRAINING REPORT

ON

Expansion of Distribution Network

At Max New York Life

Prepared
By

ALKA KANOJIA
Max New York Life
Year 2008 – 2010
A report submitted in partial
fulfillment of
The requirement of
2 Year Full Time Master in Business
Administration
(MBA) at

SOCIETY OF ADVANCE MANAGEMENT STUDIES,

 VARANASI

ACKNOWLEDGEMENT

I feel great pleasure to submit this project as

the culmination of my Guide efforts. This is the
step towards the path leading to a "Master in
Business Administration".

This project required hard work, sincerity and

devotion which I tried my best to put in this
project and in turn gained a lot of knowledge
and confidence from this project.

I am deeply grateful to my project guide Mr.

Gunjan Kumar Gupta (Sales Manager) who has
helped me in completion of this project. He has
been a constant guiding force and source of
illumination for me. The entire credit goes to
him for the final shape of this project. I would
like to thank him for his valuable advice and
guidance.

I would like to thank Mr. Uday Kumar Singh (Vice

Chairman, SAMS) for introducing such training in
our course that help me in building my
 confidence & getting exposed to the corporate
environment prior to the final placement.

I would like to thank Mr. Pranay Srivastava

(Director, Placements) who allows me to do this
project in Max New York Life successfully.

TABLE OF CONTENTS

• Introduction

• Purpose

• Executive summary

• Objective of the project

• Methodology for the study of the market of

life Insurance agents

• Industry profile
1. Meaning of Life insurance
2. History of life Insurance
3. Nationalization of life insurance
4. Privatization of Life insurance

• Company Profile
 1. About MNY
2. Board Of Directors
3. Management Team
4. Vision
5. Mission
6. Corporate Social Responsibility
7. Rewards & Recognition

• Strategies for expansion of network

1. Eligibility Model
2. Criteria for FA selection
3. Desirable Candidates
4. Development Strategies
5. Ways of Name Gathering
6. Activities
7. Experience
8. Cold/Warm/Hot
9. Scripts & handling Objections

• Expansion of network process

1. Recruitment Funnel
2. Description

• Recommendations
1. What did I learn from my Internship
2. Suggestions

• Conclusions
 • Experience

• Limitation of the Project

• Bibliography

SWOT ANALYSIS

STRENGHTS:

• Experienced management team and other key personnel.

• Financial strength and discipline.
• Continuous learning environment.
• International quality standards and services.

WEAKNESSES:

• Dealing in only life insurance and health products.

• Biasness towards the result oriented action.

OPPURTUNITIES:

• To diversify and enter into the general insurance also.

• To expand the network of services in niche market.
 • To grab no.1 position in the insurance sector .

THREATS:
• Economic slowdown in the market.
• Increasing competition among other insurance players in the
market.
• Fear of losing customers at the cost of other companies.