DECLARATION I hereby declare that this work entitled Recruitment of A d v i s o r s i n I n d i a n L i f e I n s u r a n c e I n d u s t r y i s m y work carried out under the guidance of my faculty

ty guideMs. Sanchita. This report neither full nor in past has everbeen submitted for award of any other degree of eitherthis University or any other University. Deepak Sharma(0541211707)

INTRODUCTION1.1 Executive Summary In todays competitive market, for life insurance sector,r e c r u i t i n g g o o d a g e n t s h a s o f t e n b e e n c o n s i d e r e d t h e num ber one job & problem in agency management. It isc e r t a i n l y a t a s k t h a t n e w c o m p a n i e s i n t h e I n d i a n l i f e insurance market have put much stress on. The reason isthat life insurance remains a product, not many are easilyd i s p o s e d t o b u y a n d n o t m a n y w a n t t o s e l l e i t h e r . T h e survival of agency manager depends on his convincingenough qualified and competent people to choose lifeinsur a n c e s e l l i n g a s a p e r m a n e n t c a r e e r . R e c r u i t m e n t involves selecting the right candidate for the agents joband selling the agency idea to him.Recruitment continuously is very much important for lifeinsurance companies; because FYP (First Year Premium)i s d i r e c t l y d e p e n d o n t h e n u m b e r o f A g e n t s / A d v i s o r s , A ctivity Ratio, Case Rate & Case Size. Apart fromrecruiting more & more advisors it is necessary to recruitquality advisors to maintain activity ratio, case rate andcase size.Further, it is very important to know the target segmentf o r r e c r u i t m e n t , in this project work, I have segmentedthe whole market mainly on the basis of demographic (occupation, & age), and geographic (urban & sub-urbanareas) segmentation, to identify the potential segment forrecruitment. 1.2 Objective of the project * T o i d e n t i f y t h e s e g m e n t o f p e o p l e f o r I n s u r a n c e Agents recru itment. *Find out the different ways to find the prospects forInsurance Agents recruitment. * T o f i n d t h e r e a s o n b e h i n d i n d i v i d u a l d e c i s i o n s i n joining life insurance company as an agent oradvisor.

* T o f i n d p r o b a b l e i n d i v i d u a l f o r r e c r u i t m e n t f o r t h e organization. *To know difficulties in recruitment. *To know the process of good recruitment.

Chapter 2: Overview Of Insurance What Is Insurance? Basic Concepts Fundamental Principles of Insurance History of Indian Insurance Industry List of Life Insurers Types of insurance What are the benefits one get from insurance Distribution Channels in Insurance

OVERVIEW OF INSURANCE2.1 What Is Insurance? Insurance is a contract between two parties wherebyo n e p a r t y a g r e e s t o u n d e r t a k e t h e r i s k o f a n o t h e r i n exchange for a consideration known as premium. Insurance is an economic device whereby theindividual can substitute a small relatively definite cost(premium) for a large financial loss (the contingencyinsured against) that would have to be borne if insurance was not available. The party which undertakes the risk is called insurerand the other one, whose risk is transferred is knownas the insured. The insurer promises to pay a fixed sum of money tot h e i n s u r e d o n t h e h a p p e n i n g o f a n u n c e r t a i n e v e n t (death) or after the expiry of a certain period in case of life insurance.

 The insurer agrees to indemnify the insured on t h e h a p p e n i n g o f a n u n c e r t a i n e v e n t i n c a s e o f n o n - l i f e (general) insurance. 2.2 Basic Concepts T h e c o n c e p t b e h i n d i n s u r a n c e i s t h a t a g r o u p o f peo ple exposed to similar risk come together andmake contributio n s t o w a r d s f o r m a t i o n o f a p o o l o f funds. In case a person actually suffers a loss on account of such risk, he is compensated out of the same pool. Insurance has two fundamental characteristics: Risk is transferred or shifted from oneindividual to a group. Losses are shared, on some equitable basis, byall members of the group.

2.3 Fundamental Principles of Insurance Insurable Interest: Insurable Interest is defined asthe legal right toi n s u r e a r i s i n g o u t o f a f i n a n c i a l r e l a t i o n s h i p r e c o g n i z e d u n d e r l a w , b e t w e e n t h e i n s u r e d and the subject matter of insurance. The Principle of Insurable Interest states thatthe insured must be in position to losefinancially if a loss occurs. Utmost Good Faith: A positive duty voluntarily to disclose,a c c u r a t e l y a n d f u l l y , a l l f a c t s m a t e r i a l t o t h e risk being proposed, whether requested or not. H i g h e r d e g r e e o f h o n e s t y i s i m p o s e d o n both parties to an insurance contract than anyother contract, because- Insurance product isintangible one. Principle of Indemnity:

I t s t a t e s t h a t t h e i n s u r e r a g r e e s t o p a y n o more than the actual amount of loss. In other words, the insured should not makeprofit from a loss. T h e p r i n c i p l e a p p l i e s t o n o n - l i f e ( p r o p e r t y and liability) insurance contracts only.

Principle of Subrogation: It is the right of one person, havingindemnified another under a legal obligation tod o s o , t o s t a n d i n t h e p l a c e o f t h a t o t h e r a n d avail himself of all the rights and remedies of that other. I n o t h e r w o r d s , i t i s t h e s u b s t i t u t i o n o f t h e insurer in place of the insured for the purposeof claiming indemnity from a third person for aloss covered by insurance. I t a v o i d s a s i t u a t i o n w h e r e a n i n s u r e d m i g h t profit from an insured event. 2.4 History of Indian Insurance Industry: The business of life insurance in India in its existing formstarted in India in the year 1818 with the establishmentof the Oriental Life Insurance Company in Calcutta.The story of insurance is probably as old as the story of mankind. The same instinct that prompts modernb u s i n e s s m e n t o d a y t o s e c u r e t h e m s e l v e s a g a i n s t l o s s a n d d i s a s t e r e x i s t e d i n p r i m i t i v e m e n a l s o . T h e y t o o sought to avert the evil consequences of fire and flooda n d l o s s o f l i f e a n d w e r e w i l l i n g t o m a k e s o m e s o r t o f sacrifice in order to achieve security. Though the concept of insurance is largely a development of the recent past,particularly after the industrial era past few centuries yet its beginnings date back almost 6000 years.L i f e I n s u r a n c e i n i t s m o d e r n f o r m c a m e t o I n d i a f r o m England in the year 1818. Oriental Life InsuranceCompany started by Europeans in Calcutta was the firstlife insurance company on Indian Soil. All the insurancecompanies established during that period were broughtup with the purpose of looking after the needs of E u r o p e a n c o m m u n i t y a n d t h e s e c o m p a n i e s w e r e n o t insuri ng Indian natives. However, later with the efforts of e m i n e n t p e o p l e l i k e B a b u M u t t y l a l S e a l , t h e f o r e i g n l i f e i n s u r a n c e c o m p a n i e s s t a r t e d i n s u r i n g I n d i a n l i v e s . B u t Indian lives were being treated as sub-standard lives andh e a v y e x t r a p r e m i u m s w e r e b e i n g c h a r g e d o n t h e m . Bom bay Mutual Life Assurance Society heralded the birtho f f i r s t I n d i a n l i f e i n s u r a n c e company in the year 1 8 7 0 , a n d c o v e r e d I n d i a n l i v e s a t n o r m a l r a t e s . S t a r t i n g a s Indian

enterprise with highly patriotic motives, insurancecompanies came into existence to carry the message of insurance and social security through insurance tov a r i o u s s e c t o r s o f s o c i e t y . B h a r a t I n s u r a n c e C o m p a n y ( 1 8 9 6 ) w a s a l s o o n e o f s u c h c o m p a n i e s i n s p i r e d b y nationalism. The Swadeshi movement of 1905-1907 gaver i s e t o m o r e i n s u r a n c e c o m p a n i e s . T h e U n i t e d I n d i a i n Madras, National Indian and National Insurance inCalcutta and the Co-operative Assurance at Lahore weree s t a b l i s h e d i n 1 9 0 6 . I n 1 9 0 7 , H i n d u s t a n C o - o p e r a t i v e Insurance Company took its birth in one of the rooms of t h e J o r a s a n k o , h o u s e o f t h e g r e a t p o e t R a b i n d r a n a t h Tagore, in Calcutta. The Indian Mercantile, GeneralA s s u r a n c e a n d S w a d e s h i L i f e ( l a t e r B o m b a y L i f e ) w e r e s o m e o f t h e c o m p a n i e s e s t a b l i s h e d d u r i n g t h e s a m e period. Prior to 1912 India had no legislation to regulateinsurance business. In the year 1912, the Life InsuranceCompanies Act, and the Provident Fund Act were passed.The Life Insurance Companies Act 1912 made itn e c e s s a r y t h a t t h e p r e m i u m r a t e t a b l e s a n d p e r i o d i c a l valuations of companies should be certified by anactuary. But the Act discriminated between foreign andIndian companies on many accounts, putting the Indiancompanies at a disadvantage.The first two decades of the twentieth century saw lot of g r o w t h i n i n s u r a n c e b u s i n e s s . From 44 companies withtotal business-in-force as Rs.22.44 crore, it r o s e t o 1 7 6 companies with total business-in-force as Rs.298 crore in1938. During the mushrooming of insurance companiesm a n y f i n a n c i a l l y u n s o u n d c o n c e r n s w e r e a l s o f l o a t e d which failed miserably. The Insurance Act 1938 was thefirst legislation governing not only life insurance but alson o n l i f e i n s u r a n c e t o p r o v i d e s t r i c t s t a t e c o n t r o l o v e r insurance business. The demand for nationalization of lifeinsurance industry was made repeatedly in the past but itg a t h e r e d m o m e n t u m i n 1 9 4 4 w h e n a b i l l t o a m e n d t h e Life Insurance Act 1938 was introduced in the LegislativeA s s e m b l y . H o w e v e r , i t w a s m u c h l a t e r o n t h e 1 9 t h o f January 1956 that life insurance in India was nationalized.A b o u t 1 5 4 I n d i a n i n s u r a n c e c o m p a n i e s , 1 6 n o n I n d i a n c o m p a n i e s a n d 7 5 p r o v i d e n t w e r e o p e r a t i n g i n I n d i a a t the time of nationalization. Nationalization wasaccomplished in two stages; initially the management of the companies was taken over by means of an Ordinance,a n d later, the ownership too by means of acomprehensive bill. The P a r l i a m e n t o f I n d i a p a s s e d t h e Life Insurance Corporation Act on the 19th of June 1956,and the Life Insurance Corporation of India was createdon 1st September, 1956, with the objective of spreadinglife insurance much more widely and in particular to therural areas with a view to reach all insurable persons inthe country, providing them adequate financial cover at areasonable cost.L I C h a d 5 z o n a l o f f i c e s , 3 3 d i v i s i o n a l o f f i c e s a n d 2 1 2 branch offices, apart from its corporate office in the year1956. Since life insurance contracts are long-termcontracts and during the currency of the policy it requiresa v a r i e t y o f s e r v i c e s n e e d w a s f e l t i n t h e l a t e r y e a r s t o expand the

operations and place a branch office at eachd i s t r i c t h e a d q u a r t e r . R e o r g a n i z a t i o n o f L I C t o o k p l a c e and large numbers of new branch offices were opened. Asa result of re-organization servicing functions weret r a n s f e r r e d t o t h e b r a n c h e s , a n d b r a n c h e s w e r e m a d e a c c o u n t i n g u n i t s . I t w o r k e d w o n d e r s w i t h t h e performance of the corporation. It may be seen that fromabout 200.00 Crores of New Business in 1957 the c o r p o r a t i o n c r o s s e d 1 0 0 0 . 0 0 C r o r e s o n l y i n t h e y e a r 19697 0 , a n d i t t o o k a n o t h e r 1 0 y e a r s f o r L I C t o c r o s s 2000.00 crore mark of new business. But with re-organization happening in the early eighties, by 1985-86LIC had already crossed 7000.00 crore Sum Assured onnew policies.Today LIC functions with 2048 fully computerized brancho f f i c e s , 1 0 0 d i v i s i o n a l o f f i c e s , 7 z o n a l o f f i c e s a n d t h e c o r p o r a t e o f f i c e . L I C s W i d e A r e a N e t w o r k c o v e r s 1 0 0 divisional offices and connects all the branches through aMetro Area Network. LIC has tied up with some Banks andS e r v i c e p r o v i d e r s t o o f f e r o n line premium collectionfacility in selected cities. LICs ECS an d A T M p r e m i u m payment facility is an addition to customer convenience.A p a r t f r o m o n - l i n e K i o s k s a n d I V R S , I n f o C e n t e r s h a v e been commissioned at Mumbai, Ahmedabad, Bangalore,Chennai, Hyderabad, Kolkata, New Delhi, Pune and manyother cities. With a vision of providing easy access to itspolicyholders, LIC has launched its SATELLITE SAMPARK offices. The satellite offices are smaller, leaner and closert o t h e c u s t o m e r . T h e d i g i t a l i z e d r e c o r d s o f t h e s a t e l l i t e offices will facilitate anywhere servicing and many otherconveniences in the future.From then to now, LIC has crossed many milestones andh a s s e t u n p r e c e d e n t e d p e r f o r m a n c e r e c o r d s i n v a r i o u s a s p e c t s o f life insurance business. The same motiveswhich inspired ourf orefathers to bring insurance into e x i s t e n c e i n t h i s c o u n t r y i n s p i r e u s a t L I C t o t a k e t h i s message of protection to light the lamps of security in asm a n y h o m e s a s p o s s i b l e a n d t o h e l p t h e p e o p l e i n providing security to their families. Some of the important milestones in the life insurancebusiness in India are: 1850 N o n l i f e i n s u r a n c e d e b u t s w i t h t r i t o n i n s u r a n c e company. 1870 Bombay mutual life assurance society is the firstIndian owned life insurer. 1912 The Indian Life Assurance Companies Actenacted as the first statute to regulate the lifeinsurance business. 1928 The Indian Insurance Companies Act enacted toe n a b l e t h e g o v e r n m e n t t o c o l l e c t s t a t i s t i c a l i n f o r m a t i o n a b o u t b o t h l i f e a n d n o n - l i f e i n s u r a n c e businesses. 1938

Earlier legislation consolidated and amended toby the Insurance Act with the objective of protectingthe interests of the insuring public. 1956 2 4 5 I n d i a n a n d f o r e i g n i n s u r e r s a n d p r o v i d e n t societies taken over by the central government andnationalized. LIC formed by an Act of Parliament, viz.LIC Act, 1956, with a capital contribution of Rs. 5 Crorefrom the Government of India.The General insurance business in India, on the otherh a n d , c a n t r a c e i t s r o o t s t o t h e T r i t o n I n s u r a n c e C o m p a n y L t d . , t h e f i r s t g e n e r a l i n s u r a n c e c o m p a n y established in the year 1850 in Calcutta by the British.S o m e o f t h e i m p o r t a n t m i l e s t o n e s i n t h e g e n e r a l insurance business in India are: 1907 The Indian Mercantile Insurance Ltd. set up, thefirst company to transact all classes of generali n s u r a n c e b u s i n e s s . 1957 General Insurance Council, a wing of theInsurance Association of India, frames a code of conduct for ensuring fair conduct and sound businesspractices. 1968 The Insurance Act amended to regulateinvestments and set minimum solvency margins andt h e T a r i f f A d v i s o r y C o m m i t t e e s e t u p . 1972 The General Insurance Business (Nationalization)Act, 1972 nationalized the general insurance businessin India with effect from 1st January 1973. 107 insurers amalgamated and grouped into four companies viz.the National I n s u r a n c e C o m p a n y L t d . , t h e N e w I n d i a Assurance Company Ltd., the Oriental InsuranceCompany Ltd. and the United India Insurance CompanyLtd. GIC incorporated as a company. Insurance sector reformsIn 1993, Malhotra Committee, headed by former FinanceSecretary and RBI Governor R. N. Malhotra, was formedto evaluate the Indian insurance industry and recommendi t s f u t u r e d i r e c t i o n . The Malhotra committee was set up with the objective of complementing the reforms initiated in the financials e c t o r . T h e r e f o r m s w e r e a i m e d a t c r e a t i n g a m o r e efficient and competitive financial system suitable for therequirements of the economy keeping in mind thestructural changes currently underway and recognizingthat insurance is an important part of the overall financials y s t e m w h e r e i t w a s necessary to address the need f o r similar reforms In 1994, the committee submitted thereport and some of the key recommendations included. 1997

Insurance regulator IRDA set up 2000 IRDA starts giving licenses to privatei n s u r e r s : K o t a k L i f e I n s u r a n c e I C I C I p r u d e n t i a l a n d HDFC Standard Life insurance first private insurers tosell a policy 2001 Royal Sundaram Alliance first non life insurerto sell a policy 2002 Banks allowed to sell insurance plans. The Insurance Regulatory and Development Authority(IRDA)T h e I n s u r a n c e A c t , 1938 had provided for setting up of the Controller of Insurance to act a s a s t r o n g a n d powerful supervisory and regulatory authority forinsurance. Post nationalization, the role of Controller of Insurance diminished considerably in significance sincethe Government owned the insurance companies. B u t t h e s c e n a r i o c h a n g e d w i t h t h e p r i v a t e a n d f o r e i g n companies foraying in to the insurance sector. Thisn e c e s s i t a t e d t h e n e e d f o r a s t r o n g , i n d e p e n d e n t a n d autonom ous Insurance Regulatory Authority was felt. Ast h e e n a c t i n g o f l e g i s l a t i o n w o u l d h a v e t a k e n t i m e , t h e then Government constituted through a Governmentresolution an Interim Insurance Regulatory Authoritypending the enactment of a comprehensive legislation.

T h e I n s u r a n c e R e g u l a t o r y a n d D e v e l o p m e n t A u t h o r i t y Act, 1999 is an act to provide for the establishment of anAuthority to protect the interests of holders of insurancepolicies, to regulate, promote and ensure orderly growtho f t h e i n s u r a n c e i n d u s t r y a n d f o r m a t t e r s c o n n e c t e d therewith or incidental thereto and further to amend theInsurance Act, 1938, the Life Insurance Corporation Act,1 9 5 6 a n d t h e G e n e r a l i n s u r a n c e B u s i n e s s ( N a t i o n a l i z a t i o n) Act, 1972 to end the monopoly of theL i f e I n s u r a n c e C o r p o r a t i o n o f I n d i a ( f o r l i f e i n s u r a n c e b u s i n e s s ) a n d G e n e r a l I n s u r a n c e C o r p o r a t i o n a n d i t s subsidiaries (for general insurance business).The act extends to the whole of India and will come intof o r c e o n s u c h d a t e a s t h e C e n t r a l G o v e r n m e n t m a y , b y notification in the Official Gazette specify. Different datesmay be appointed for different provisions of this Act. T h e A c t h a s d e f i n e d c e r t a i n t e r m s ; s o m e o f t h e m o s t important ones are as follows: Appointed day means the date on which theAuthority is established under the act. Authority means the established under this Act.

 Interim Insurance Regulatory Authority means theInsurance Regulatory Authority set up by theCentral Government through Resolution No. 17(2)/9 4 - l n s V dated the 23rd January, 1996.

Words and expressions used are not defined in this Actbut d e f i n e d i n t h e I n s u r a n c e A c t , 1 9 3 8 o r t h e L i f e Insurance Corporation Act, 1956 or the General InsuranceBusiness (Nationalization) Act, 1972 shall have them e a n i n g s r e s p e c t i v e l y a s s i g n e d t o t h e m i n t h o s e A c t s A new definition of "Indian Insurance Company" has beeninserted. "Indian insurance company" means any insurerbeing a company(a)which is formed and registered under theCompanies Act,1956(b) in which the aggregate holdings of equity sharesby a foreign company, either by itself or throughits subsidiary companies or its nominees, do note x c e e d t w e n t y - s i x p e r c e n t . P a i d u p c a p i t a l i n such Indian insurance company(c) whose sole purpose is to carry on life insurancebusiness, general insurance business or re-insurance business. 2.5 LIST OF LIFE INSURERS: Apart from Life Insurance Corporation, the public sectorlife insurer, there are 20 other private sector life insurers, most of them joint ventures between Indian groups andglobal insurance giants.

2.6 Types of insurance: Generally, insurance is divided into two categories and is named as; #General Insurance #Life Insurance

2 . 7 W h a t a r e t h e b e n e f i t s o n e g e t f r o m i nsurance: Safeguards oneself and one's family for futurerequirements. Life cover. Peace of mind in case of financial loss. Encourage saving. Tax rebate. Protection from the claim made by the creditors. S e c u r i t y a g a i n s t a p e r s o n a l l o a n , h o u s i n g l o a n o r other types of loan. Provide a protection cover to industries, agriculture,women and child.

2.8 Distribution Channels in Insurance

Introduction An insurance cover is an intangible product evidenced bya written contract known as the policy. Insurers marketvarious insurance covers either directly or throughv a r i o u s d i s t r i b u t i o n c h a n n e l s i n d i v i d u a l a g e n t s , corporate agents (including Bancassurance) and Brokers.T h e m a r k e t e r i n t h e d i s t r i b u t i o n n e t w o r k i s i n d i r e c t interface with the prospect and the customer.Life insurance products are sold through individual agentsand many of them have this as their only careeroccupation. General insurance products are sold throughindividual agents, corporate agents and brokers. Distribution channels such as agents are licensed by theIRDA. To get an agency license, one has to have certainm i n i m u m q u a l i f i c a t i o n s ; p r a c t i c a l t r a i n i n g i n i n s u r a n c e s u b j e c

t s a n d p a s s a n e x a m i n a t i o n c o n d u c t e d b y t h e Insurance Institute of India. IRDA regulations on licensing of agents/brokers lay downt h e c o d e o f c o n d u c t f o r i n d i v i d u a l a g e n t s , c o r p o r a t e a gents and brokers.Thus it is seen that the dos and donts for thesei n t e r m e d i a r i e s a r e g i v e n c l e a r l y a t t h e p o i n t o f s a l e a s well as in the event of a claim. Service does not end witht h e c u s t o m e r r e c e i v i n g h i s d o c u m e n t ; i t i n f a c t o n l y b e g i n s h e r e . A f t e r s a l e s s e r v i c e i s a s i m p o r t a n t o r e v e n more important like when a refund has to be made orwhen a claim has to be made. O n e o f t h e i s s u e s t h a t a r e o f g r e a t c o n c e r n a f f e c t i n g profe ssionalism in insurance activities is resortingrebating by intermediaries. Rebating is prohibited as perSection 41 of the Insurance Act, 1938 and the public areadvised not to deal with intermediaries offering rebate of any kind.Rebating means a share of commission receivable by theagent/broker is given to the prospect/client. This is doneto attract the client in the purchase of insurance contractby offering cash. Competition among agents/brokers is socut-throat, some agents indulge in such unethicalpractices. Public are advised not to ask for any prohibitedr e b a t e s i n p r e m i u m s i n c e c o m m i s s i o n p a y m e n t t o a n a g e n t i s t h e o n l y i n c o m e f o r s o m e t o t a k e c a r e o f t h e i r families. Similarly, agents are also advised not to indulgein such practices which could cause them loss of agencyincome. Alternate Distribution Channels: T h e i n s u r a n c e m a r k e t p l a c e i s u n d e r g o i n g a transformation that m a y e v e n t u a l l y l e a d t o s i g n i f i c a n t changes in how consumers purchase insurance products.A v a r i e t y o f d i s t r i b u t i o n c h a n n e l s a r e c u r r e n t l y u s e d i n this market place and some insurers utilize a combinationof distribution channels. Such as: Direct Sales Brokers Corporate Agents Telemarketing Online Marketing Retail Chains Franchisee

Chapter 3: Insurance Agent Recruitment Meaning of Insurance Agent recruitment Need For Insurance Agent Functions Of The Insurance Agent Support And Benefits Learning From Executive Training Insurance Agents Profile Involves Knowing Criteria For Selection Of Insurance Agent Code Of Conduct For Insurance Agents

INSURANCE AGENT RECRUITMENT3.1 Meaning of Insurance Agent recruitment Insurance agent recruitment is all about recruitingfinancial advisor for the company. The financial advisor ist h e p e r s o n w h o c a n g u i d e t h e p e o p l e i n m a k i n g p r o p e r investments regarding their life

Now the question comes is that how can he/she be theadvisor of the company ??????? Financial Advisor:Financial advisor is the person who has been issued theg o v e r n m e n t a u t h o r i z e d I R D A l i c e n s e w h i c h i s v a l i d f o r three years and in those 3 years he/she can tap into anunlimited income and reinvent their life.As a Life Advisor a persons role would go beyond sellingp o l i c i e s . H i s / h e r r o l e would be to explain life insurancea n d i t s b e n e f i t s t o p o t e n t i a l c u s t o m e r s a n d h e l p t h e m

d e c i d e w h i c h p l a n s u i t s t h e m b e s t a f t e r a n a l y z i n g t h e i r financial needs. Hence, life insurance offers one with anopportunity for: An exciting / challenging career. Flexible work hours. Unlimited income. Regular income for years till the policies sold by oneis in force.

3.2 Need For Insurance Agent: Insurance is sold, not bought, because of itsi n t a n g i b i l i t y ( F i g - 3 a s h o w s t h e intangibility of insurance) People do not understand, how insurance works. Iti s l i k e s a n d w h e n i t i s b o u g h t a n d g o l d w h e n i t i s realized. I n s u r a n c e i s a c o n c e p t t h a t h a s t o b e e x p l a i n e d personally. B u y e r h a s h i s o w n s p e c i a l n e e d s a n d r e q u i r e s specialized solution. I t i s t h e AGENT w h o k n o w s t h e p r o p o s e r a n d h e only can act as first line underwriter.

3.3 Functions Of The Insurance Agent: Life insurances agent has the unique role of such a person, who enjoys the trust of two parties - the prospectand the insurer - simultaneously in the same transaction.To simplify, functions of a life insurance agent could bedivided into two parts, viz. 'Pre-sale functions'; 'Post-sale functions

Function Before Sales: Contact prospects Study their insurance needs Completion of formalities for proposal of newinsurance viz, Filling of form Arranging for Medical Examination Collection proofs of age and income Any other information required by theunderwriters Function After Sales: Ensure payment of renewal premiums. A s s i s t p o l i c y h o l d e r f o r n o m i n a t i o n / o r c h a n g e thereof. Assist the policyholder in case he wants to get loanagainst the policy assignment. Assist the policyholder or the claimant to complywith the requirement for getting timely settlementof claims.

3.4 SupportAnd Benefits:

As a Life Advisor with Insurance companyone would enjoythe following benefits: Enriching Training Program:A n i n t e n s i v e t r a i n i n g p r o g r a m b e f o r e o n e c o m m e n c e s h i s / h e r n e w c a r e e r . T h i s w o u l d e q u i p o n e w i t h a l l t h e information and knowledge about life insurance, itsbenefits and our products. This would help one to performhis/her job better and meet his/her goals. One would alsoenjoy the benefits of continuous training and mentoringp r o g r a m s t h a t a r e d e s i g n e d t o u p d a t e o n e , a p a r t f r o m enhancing ones selling skills. Mentoring:T r a i n i n g a n d s u p p o r t f r o m t h e C o m p a n y t o m e e t o n e s goals. Opportunity to learn from industry professionals.

Flexibility:Decide ones own working hours and earning goals. Satisfaction:One will help people manage their assets and plan theirfinancial security, and experience deep satisfaction frommaking a positive difference in others lives. One acts as astrategist in annuities, business insurance, estateplanning and personal investment, providing both shortand long term solutions to financial risks. Freedom:C o n t i n u e w i t h y o u r p r e s e n t j o b o c c u p a t i o n i f y o u s o desire and treat this as a parallel source of income. Thisallows you time to decide if you want to take the job of aLife Advisor as a full time activity. Earnings:Entitlement to a percentage of the premium asc o m m i s s i o n t i l l t h e t i m e t h e p o l i c i e s s o l d b y y o u a r e i n force. Attractive Additional Benefits For High Performers:Palmtops, Planners, Leather portfolio bags, Offsiteconferences, Foreign trips and Sales promotionalschemes.

3.5 Learning From Executive Training: Provides an opportunity to apply the concepts learn tin real life situations It sensitizes us about nuances of work place by thetime-bound projects assigned by the company. It creates awareness about the strengths &weaknesses in the work environment It provides a platform to develop a network while OJT(On-the-job-Training), which would be useful inenhancing career prospectus. Know the day-to-day functions of the company. It provides a unique opportunity to get exposed t o corporate culture, professional experience &professional behavior & putting the theoreticalconcepts learnt in the classroom for developingmanagerial skills. To gain a deeper understanding of the work culture,deadlines, pressure etc. of an organization. I t g i v e s a f l a v o r o f t e a m w o r k , o r g a n i z a t i o n c u l t u r e , team dynamics, result orientation, organizationalpressures, complexities in achieving the desiredresults etc. It provides direct exposure to the execution &support functions of the departments.

I t p r o v i d e s a g o o d s c o p e f o r d e v e l o p i n g n e c e s s a r y managerial skills & positive attitude . 3.6 Insurance Agents Profile Involves Knowing

Demographic background Educational background Experience background Industry background. 3.7 Criteria For Selection Of Insurance Agent: Criteria for the selection of the Financial Advisor are as follow; Age: 18 or above for both Male and Female Educational Qualification Required: o Rural Area*: 10 th Pass o Urban Area*: 12 th Pass [* Areas are bifurcated according to the population.] For getting license to work as an agent of any company a personmust complete his/her training and pass exam of IRDA. If a personis already holding license for General Insurance than he/she willhave to complete only few hours of training.A l l t h e a b o v e c r i t e r i a a r e c o m m o n f o r a l l t h e c o m p a n i e s , t h e y have to follow it. In practice, because of competitive environmentm a n y companies decide their own criteria apart from all above.Different criteria used by companies are shown in the following table

3.8 Code Of Conduct For Insurance Agents: No Insurance Agent Shall:

#Solicit or procure insurance business withoutholding a valid license; #Induce the prospect to omit any materialinformation in the proposal form: #Induce the prospect to submit wrong information inthe proposal form or documents submitted to theinsurer for acceptance of the proposal; Behave in a discourteous manner with theprospect; I n t e r f e r e w i t h a n y p r o p o s a l i n t r o d u c e d b y a n y other insurance agent; Offer different rates, advantages, terms andconditions other than those offered by his insurer; D e m a n d o r r e c e i v e a s h a r e o f p r o c e e d s f r o m t h e beneficiary under an insurance contract; F o r c e a p o l i c y h o l d e r t o t e r m i n a t e t h e e x i s t i n g policy and to effect a new proposal from him withinthree years from the date of such termination; H a v e , i n c a s e o f a c o r p o r a t e a g e n t , a p o r t f o l i o o f insurance business under which the premium is inexcess of fifty percent of total premium procured,i n a n y y e a r , f r o m o n e p e r s o n ( w h o i s n o t a n i n d i v i d u a l ) o r o n e o r g a n i z a t i o n o r o n e g r o u p o f organizations; A p p l y f o r f r e s h l i c e n s e t o a c t a s a n i n s u r a n c e agent, if h i s l i c e n s e w a s e a r l i e r c a n c e l l e d b y t h e designated person, and a period of five years hasnot elapsed from the date of such cancellation; B e c o m e o r r e m a i n a d i r e c t o r o f a n y i n s u r a n c e company;

Every Insurance Agent Shall: I d e n t i f y h i m s e l f a n d t h e i n s u r a n c e c o m p a n y o f whom he is an insurance agent; Disclose his license to the prospect on demand;

Disseminate the requisite information in respect of insurance products offered for sale by his insurera n d t a k e i n t o a c c o u n t t h e n e e d s o f t h e p r o s p e c t while recommending a specific insurance plan; Disclose the scales of commission in respect of theinsurance product offered for sale, if asked by theprospect; Indicate the premium to be charged by the insurerfor the insurance product offered for sale; Explain to the prospect the nature of informationrequired in the proposal form by the insurer, andalso the importance of disclosure of materialinformation in the purchase of an insurancecontract; B r i n g t o t h e n o t i c e o f t h e i n s u r e r a n y a d v e r s e habits or income inconsistency of the prospect, int h e f o r m o f a r e p o r t ( c a l l e d I n s u r a n c e A g e n t s C o n f i d e n t i a l R e port) along with every proposals u b m i t t e d t o t h e i n s u r e r , a n d a n y m a t e r i a l f a c t that may adversely affect the underwritingd e c i s i o n o f t h e i n s u r e r as regards acceptance of the proposal, by making all reasonable e n q u i r i e s about the prospect; Inform promptly the prospect about t h e a c c e p t a n c e o r r e j e c t i o n o f t h e p r o p o s a l b y t h e insurer; Obtain the requisite documents at the time of filingt h e p r o p o s a l f o r m w i t h t h e i n s u r e r ; a n d o t h e r docum ents subsequently asked for by the insurerfor completion of the proposal; Render necessary assistance to the policyholdersor claimants or beneficiaries in complying with therequirements for settlement of claims by theinsurer; Advise every individual policyholder to effectnomination or assignment or change of address orexercise of options, as the case may be, and offernecessary assistance in this behalf, wherevernecessary;

Chapter 4: Thumb Rule For Recruitment Recruitment Why Recruitment? Whom to Recruit? Where to Recruit?

 How to recruit?

THUMB RULE FOR RECRUITMENT 4.1 Recruitment: R e c r u i t i n g g o o d a g e n t s h a s o f t e n b e e n c o n s i d e r e d t h e number one job & problem in agency management. It isc e r t a i n l y a t a s k t h a t n e w c o m p a n i e s i n t h e I n d i a n l i f e insurance market have put much stress on. The reason isthat life insurance remains a product, not many are easilyd i s p o s e d t o b u y a n d n o t m a n y w a n t t o s e l l e i t h e r . T h e survival of agency manager depends on his convincingenough qualified and competent people to choose lifeinsur a n c e s e l l i n g a s a p e r m a n e n t c a r e e r . R e c r u i t m e n t involves selecting the right candidate for the agents joband selling the agency idea to him.

4.2 Why Recruitment? Recruitment is critical when the agency force is small. Butit becomes important even for a fairly large sized agency.Agency groups, like companies and products, have a lifec y c l e . T u r n o v e r o f a g e n t s i s a f a c t o f l i f e b u s i n e s s . I n course of time only some agents can maintain high newb u s i n e s s g r o w t h r a t e a n d r e m a i n s t a r s . M a n y q u i t e o r t u r n i n a c t i v e a f t e r s o m e t i m e w h i l e o t h e r t e n d t o l o s e steam. Some, w h o h a v e a r e g u l a r f l o w o f h i g h r e n e w a l commission, may relax efforts or look for other pasturesi n w h i c h t h e i r s k i l l s c o u l d b e e m p l o y e d . I f t h e a g e n c y m anager does not continuously add new people tor e p l e n i s h t h e r e s u l t i n g d e p l e t i o n o f s e l l i n g e n e r g y , t h e agency system would begin crumble in spite of itsapparent success.F r o m t h e f o l l o w i n g c a l c u l a t i o n w e c a n u n d e r s t a n d t h e nee d for recruiting new & quality advisors: FYP = TOTAL NO. OF ADVISORS ACTIVITY RATIO CASERATE

CASE SIZE Where,FYP = First Year Premium. No. of Active AdvisorsActivity Ratio (%) = Total Number of AdvisorsCase Rate = Total No. Of PoliciesTotal No. of Active Advisors

Case Size = Total PremiumTotal No. Of Policies From the above calculation we can say that FYP is directlyp r o p o r t i o n a l t o t h e No. of advisors. So it necessary to r e c r u i t m o r e & m o r e a d v i s o r s , a n d a g a i n a p a r t f r o m recruiti ng new advisors it is necessary to recruit qualityadvisors to maintain Activity Factor, Case Rate, & CaseSize.Why then do agency managers often fail to recruit? Thereason is that it is not considered urgent enough. There isa lot of energy that needs to be expended to recruit anddevelop a new agent but payoffs come much later. Again,there are periods (like March) when one has to focus ong e t t i n g b u s i n e s s . I t i s a p o o r t i m e t o b r i n g n e w p e o p l e into the agency. Many are lost simply because one couldnot devote sufficient time to develop them.New men, typically, would contribute only a small shareof the agency business so that if one dose not recruit, itw i l l n o t m a k e a n i m m e d i a t e d i f f e r e n c e t o t h e a g e n c y operation. The penalty may be there but it is a deferredone. For example, if there is no recruitment done in theyears 2008& 2009, the impact may really be felt only by2 0 1 2 . R e m e m b e r t h a t a t t h a t t i m e m o r e t h a n h a l f t h e agencys business may come from agents recruited after 2 0 0 7 . T h e t w o y e a r s o f n o n - r e c r u i t m e n t w o u l d h a v e created a huge hole in the fabric that cannot be sewed upq u i c k l y b y e x t r a r e c r u i t m e n t i n 2 0 1 0 . T h e o m i s s i o n b y then has become irrevocable.The only solution to the above is to recruit continuouslyand at all times- indeed make a habit out of recruitment.No doubt, the lean months are when one can spend moretime on recruiting while peak business periods like D e c e m b e r t o M a r c h m a y p u t o t h e r d e m a n d s o n t h e ag e n c y m a n a g e r s t i m e . B u t w e m u s t r e m e m b e r t h a t peak months also provide an opportunity to new agentst o g e t o f f t o a f l y i n g s t a r t . N o t h i n g w o r k s , l i k e e a r l y success, to motivate an agent to plunge into the businesswith heart and soul. The only thing worse than non - recruitment is to recruit indiscriminately and for the sake of fulfilling arecruitment quota . This is a disease, which seems to havec a u g h t o n w i t h l i f e i n s u r a n c e c o m p a n i e s i n t h e I n d i a n market. It is like drawing water from a well with a bucketthat has a hole in it. The logic seems to be that if you getsufficiently large numbers, many will drop off but somemay stay. There are two problems with this logic. First, itis very inefficient way of doing

things. Agents ared e a d w e i g h t u n l e s s t h e y c a n w o r k i n d e p e n d e n t l y a n d generate new business. What is the purpose of recruitingan agent if the agency manager has to do canvassing of business and other activities on his behalf? Many drop off any way after a few halfhearted attempts.Second, what many marketing managers do not seems torealize is this serious harm done to an agencyo r g a n i z a t i o n a n d agency managers morale when he isn o t e v e n a l l o w e d ( l e a v e a l o n e s u p p o r t e d ) t o s t r i k e a bal a n c e b e t w e e n r e c r u i t m e n t a n d a g e n t d e v e l o p m e n t one may argue that winners (the agents who will make it)do not need too many winners would like to be part of as h i p t h a t i s r u d d e r l e s s , w i t h o u t t h e c a p t a i n i n s i g h t a n d crew that is verge of jumping off? 4.3 Whom to Recruit? T h e a g e n c y o r g a n i z a t i o n s w o u l d b e c r i p p l e d e r a l o n g i f the right kind of people were not in the ship. The agentsj o b l i k e a n y o t h e r c o n t a i n s a j o b description and a j o b s p e c i f i c a t i o n . T h e a g e n c y m a n a g e r n e e d s t o b e c l e a r about n o t o n l y w h a t h e r e q u i r e s t h e a g e n t t o d o a l s o a profile of who would play the role well. It is not necessaryor even possible to get readymade MDRT stuff. The key isto discover those people who have the latent potential tog r o w a n d t o b e g r o o m e d s o a s t o e m e r g e a s s a l e s champions. As in new business prospecting, one mustb u i l d a r e s e r v o i r o f p o t e n t i a l c a n d i d a t e s w h o c a n b e offered an a g e n c y c a r e e r . L e t u s l o o k e d a t s o m e o f t h e qualities to look for (Fig-4a)

The candidate should ideally come from a background w h e r e w o r k a n d l i f e h a s b e e n c h a l l e n g i n g a n d e v e r y meal had to be earned the hard way. An agents job isessentially entrepreneurial. The only security that thereis comes from the ability to perform & this is often notw i t h i n o n e s c o n t r o l . A g r e a t d e a l o f c o u r a g e , s e l f discipline, self-confidence, self-drive is needed to e n a b l e o n e t o s t i c k t o t h e c o u r s e & w o r k i n a n environment where results do not come easily.

A person with some business & service experience &w h o h a s e n j o y e d s u c c e s s p a t t e r n m a y m a k e a g o o d recruit. Such a person is likely to have a fair amount of m a t u r i t y o f t h o u g h t a n d a s e n s e o f r e s p o n s i b i l i t y . Success also requires discipline and healthy workhabits. Remember, customer have to be sure about theperson from whom they are buying insurance. The candidate must obviously be one with the ability torelate with and communicate to people. One of the keythings to especially look for is the social mobility of thep r o s p e c t - i s h e a c t i v e l y e n g a g e d i n c o m m u n i t y a n d social activities where he meet and render services toother people. Is he someone who is liked ? One of the critical requirements of an agent is character & attitude . Character is about doing what isright and ethical and in the interest of ones customers.S i m i l a r l y , o n e m u s t b e s u r e o f t h e a g e n t s a t t i t u d e toinsurance and the customer. The agent must be thet y p e w h o b e l i e v e s i n i n s u r a n c e & t h e i m p o r t a n c e o f financial security. Finally, the most important attribute to look for is fire inthe belly a hunger to excel in the agency profession.There are no free lunches. Success has a price and onec a n p a y t h a t p r i c e o n l y w h e n t h e r e i s s u f f i c i e n t f i r e within.

4.4 Where to Recruit? The types of people we have profiled above are obviouslynot likely to be sitting idle at home. Usually, they areengaged somewhere. It is also obvious that goodprospects do not easily come by. One has to make asearch for them and discover them. Let us look at someof the source from which one may draw good prospects. A most potent s o u r c e l i e s i n i n d i v i d u a l s a n d professional/occupational being displaced b y industryw i d e v o c a t i o n a l d i s t u r b a n c e s . A l a r g e n u m b e r h a v e take n voluntary retirement (VRS) or face retrenchment.Similarly many business proprietors have theirrevenues and profits affected by competition andadverse trends. These are people likely to be interestedi n l i f e i n s u r a n c e s a l e s c a r e e r . T h e y d o n o t p o s s e s m a t u r i t y a n d w o r k e x p e r i e n c e b u t a l s o a r e a t a n a g e when fire is still there. A next source is to liaise with Placement Agencies ando t h e r p l a t f o r m s w h e r e p e o p l e i n s e a r c h o f j o b s a r e registered. One may also advertise about a jobopening. The problem is that such recruitment centersa r e u n l i k e l y t o p r o m o t e a j o b i n l i f e i n s u r a n c e s e l l i n g . This is where selling the career become important. For several decades, the most popular source of agency recruitment has been members of onese x t e n d e d f a m i l y & c o m m u n i t y , f r i e n d s c i r c l e , o n e s c u s t o m e r s a n d c e n t e r o f i n f l u e n c e . T h e y m a y e i t h e r themselves become agents or recommend and help in recruiting others. Policyholders, especially if they ares a t i s f i e d c l i e n t s , c o u l d p r o v i d e g r e a t s u p p o r t i n t h i s r e g a r d . T h e p r o b l e m i s t h a t m a n y o f t h e m a r e n o t business minded. They have valuable personal contactsbut the agency manager would need to work and assistto convert these into professional and businessrelationships. F o u r t h , t h e r e a r e s a l e s m e n i n o t h e r a r e a s . T h o s e i n FMCGs can b e f o u n d i n r e t a i l o u t l e t s o r m o v i n g f r o m house to house. Others from the pharmaceuticalindustry visit doctors and hospitals. There are salesmenall around the place. The task is to ask if they intend toremain in their present line of sales all their lives. Whynot plunge into something a lot more challenging andrewarding? O n e o f t h e m o s t p r o m i s i n g s o u r c e s o f r e c r u i t m e n t i s the housewives looking for a part time job tos u p p l e m e n t f a m i l y i n c o m e . W o m e n c a n u n d e r s t a n d personal and family financial problems and are able tointeract on an emotional level. Remember theyc o n s t i t u t e h a l f o f t h e m a n k i n d a n d a r e t h e p i l l a r o f support in every family. In many Indian & Asiancommunities, women would not move amidst and talkfreely to male strangers. But housewives would listento other housewives. Perhaps the best advantages t e m s f r o m t h e f a c t t h a t m i l l i o n s a r e s e e k i n g n e w

c a r e e r o p p o r t u n i t i e s t o d a y a n d a r e e n t e r i n g t h e j o b market in large number. The college campus is also a possible source of recruitment. One hazard is that students may not stickwith it for long. Those in the top half of class(academic) performers are likely to search for and findother jobs or go for higher studies. It would bew o r t h w h i l e t o l o o k f o r g o o d s o l i d p e o p l e a t t h e l o w e r half of the class. Finally there is the professional financial adviser (e.g. aC A o r i n c o m e t a x p r a c t i t i o n e r ) w h o m a y c o n s i d e r t h e agency as an additional part-time source of income. 4.5 How to recruit? The recruitment process has two steps:

The first stage is that of qualifying the prospect-ma king s u r e h e / s h e i s t h e r i g h t c a n d i d a t e f o r t h e agency. It m a y b e w i s e t o s p e n d s o m e t i m e f o r t h e purpose- observing and g e t t i n g t o k n o w t h e p r o s p e c t better. There are many things to know, such as familyb a c k g r o u n d & e d u c a t i o n , p a s t a c h i e v e m e n t s , s o c i a l mobility and connections, dreams and ambitions, howhe looks at life insurance and its selling. Among other i s s u e s i t i s e s p e c i a l l y v i t a l t o l o o k f o r t h e thread o f d i s c o n t e n t m e n t - i s t h e p r o s p e c t d i s s a t i s f i e d w i t h h i s present job and state of affairs and ready to take thep l u n g e . W o u l d h e h a v e e n o u g h f i r e a n d d i s c i p l i n e t o make a success of a job? These are matters involvingj u d g m e n t a n d a p r u d e n t a g e n c y m a n a g e r w o u l d n o t hurry. T h e s e c o n d s t a g e i s t h a t o f s e l l i n g t h e a g e n c y t o t h e selected prospect. This may again involve one or moresessions: Selling the agency career. Establishing leadership. Selling the company. S e l l i n g t h e a g e n c y c a r e e r : E v e r y p r o s p e c t n e e d s t o be first of all convinced that a career in life insuranceselling offers a rewarding way of life.Let us start with

stability . There is tremendouss t a b i l i t y i n t h i s c a r e e r , o n c e t h e e a r l y h u m p s a r e t a c k l e d . E v e r y n e w p o l i c y e a r n s n o t o n l y commissions but also lots of incentives. The beautyis that the market we are working in is continuouslyexpanding.A s f o r t h e career advancement , t h e s k y i s t h e l i m i t . An agent has one of those jobs where one can earnm o r e t h a n t h e c o m p a n y c h a i r m a n a s t h e r e a r e tremendous growth opportunities. A third major selling point is the freedom that comesw i t h t h e j o b h e r e i s t h e c a r e e r w h e r e o n e c a n seto n e s o w n t i m e s c h e d u l e o f w o r k a n d l i f e c h o o s e ones o w n c l i e n t e l e ; l e a r n c o n t i n u o u s l y o n t h e j o b and move ahead. Establishing leadership: we come now to one of themost critical items that agency manager has to sell.He has to sell himself and convince the prospect toaccept his leadership and supervision. Let us call thissession a commitment interview. In this interview theagency manager extends an invitation and a promiset h a t j o i n i n g h i s a g e n c y g r o u p i s t h e p a t h t o a rewarding career. Agency manager may have manye x a m p l e s t o r e l a t e a b o u t s u c c e s s f u l a g e n t s w h o made it under his leadership. Selling the Company: Let us now come to the thirditem to be soldthe company. One way of doing soh a s b e e n t o l u r e a g e n t s t h r o u g h h i g h e r m a t e r i a l incentives and commissions. For a new agent primequestion is the companys acceptability and whetheri t c a n b e s o l d t o m e m b e r s o f t h e p u b l i c . T h e o t h e r n e w concern of any newcomer would be about the company environment & culture.

Chapter5: Research Methodology Marketing Research Process

Data interpretation & Graph Analysis

5.1 Research Methodology: Research always starts with a question or a problem. Itsp u r p o s e i s t o q u e s t i o n t h r o u g h t h e a p p l i c a t i o n o f t h e scientific method. It is a systematic and intensive studyd i r e c t e d t o w a r d s a m o r e c o m p l e t e k n o w l e d g e o f t h e subject studied. Marketing research is the function whichlinks the consumer, customer and public to the marketert h r o u g h i n f o r m a t i o n - i n f o r m a t i o n u s e d t o i d e n t i f y a n d defi ne marketing opportunities and problems generate,refine, and evaluate marketing actions, monitormarketing actions, monitor marketing performance andimprove understanding of market as a process.Marketing research specifies the information required toaddress these issues, designs, and the method forcollecting information, manage and implemented thedata collection process, analyses the results andcommunicate the findings and their implication. 5.2 Marketing Research Process A s m a r k e t i n g r e s e a r c h i s a s y s t e m i c a n d f o r m a l i z e d process , it follows a certain sequence of research action.The marketing process has the following steps: Formulating the problems Developing objectives of the research Designing an effective research plan Data collection techniques Evaluating the data and preparing a research reportT h e r e i s o n l y o n e t y p e o f d a t a c o l l e c t i o n m e t h o d u s e i n my project report. Secondary data. For my project, I decided on Secondary data collectionm e t h o d w a s used by referring to various w e b s i t e s , books, magazines, journals and daily newspapers fo r collecting information regarding project under study

Chapter 6: Findings Suggestions & Recommendations