PRN no. 23021241191 Summer internship topic The impact of customer relationship management in insurance industries business growth.
Name of the company where summer Capitalbox
internship is conducted
Name of faculty guide Dr. Vinod Surange
Progress of Planned Date ( 15/04/2024 – 30/04/2024)
I began my learning experience at Capital Box as a Marketing Intern, where every day was full of possibilities to improve and comprehend the nuances of the insurance market. Has a summary of my experience in the first 15 days of the summer internship.
Day 1 – Orientation
As we began our journey at Capital Box we started with a warm welcome as everyone introduced themselves, setting the stage for collaboration and camaraderie.
Day 2 – 11 Training Session
From the second day, we delved into the world of insurance, specifically focusing on four plans offered by Max Life Insurance. These four plants are as follows –
Max life monthly income advantage plan
Max life-saving advantage plan Max life Smart wealth advantage growth plan Max life Smart wealth advantage guaranteed plan Day 12 Goal setting
As we completed our training on these insurance plans, it was now time to sell these plans. A target of at least one lakh in sales was set for each of us. The company introduced us to four clubs with sales targets which are -
1. Executive Club 2. Honor’s Club 3. Leader’s Club 4. President’s Club
Each of them with different benefits.
Reaching the Executive Club (Rs. 1 lakh - Rs. 2,49,999): The goal will net you two PVR movie tickets, a certificate, and a cash prize of Rs. 10,000.
Honor's Club (Rs. 2,50,000 - Rs. 3,99,999): Reaching this level entitles incentives such as a certificate, branded headphones, a "Leader in You" profile, an exhilarating vacation to Manali, and a cash prize of Rs. 15,,000.
Sales in the Leaders Club (Rs. 4,00,000 - Rs. 5,99,999): Are rewarded with cash prizes of Rs. 20,000, certificates, Alexa devices, and trips to Bangkok.
Presidential Club (above Rs. 6,00,000): This ultimate accomplishment
entitles you to a cash prize, a certificate, a mobile phone valued at Rs. 10,000, and a once- ina-lifetime vacation to Dubai. Introduction
The Capital Box is a financial organisation that was incepted on 14th July 2016, with a focus on providing personalised solutions for people, families, and enterprises. The organisation provides complete consulting solutions with the help of financial products and risk management. The company provides portfolios, with the goal of developing long–term partnerships with customers. The company has established itself as a trusted financial services provider with a focus on client happiness and ethics. In order to serve a wide customer base, the organisation has increased its offerings and skills.
Unique Selling Point
The unique selling point of the Capital Box is its comprehensive approach to financial and risk management, which combines a council of objectives with experienced implementation. To achieve financial success, it’s important to communicate with the clients, understand what they want and their goals, and provide them with the necessary resources and tools to help them achieve their goals. The company's commitment is to provide honest, personalised solutions and high-quality services that are above the competitors in the market. Mission, Vision, and Values The mission of Capital Box is to provide personalised solution that preserves clients life and provide long time peace of mind.
Vision includes empowering customers to reach financial goals while recognising their unique purpose.
The value includes commitment to service, integrity , empowerment via education and clear communication.
Company Analysis:
Marketing Manager- Mr. Amit Dubey
Human Resource Manager: Mrs. Jyoti Dhankar
Assistant Manager: Ramzeen Khan
Competitors
The computers may include other financial services firms offering similar services, such as investment advisory firms, wealth management companies, and tax consultancy firms. Some of these are:
1. Midas Wealth Management.
2. Global finance advisor.
3. Text solution incorporated.
4. Wealth Guard Financial Services.
5. Legacy Planning Group.
6. in West right Advisory.
7. Eagle Eye Investment.
Industry Analysis and PESTEL Analysis:
The corporation operates inside the regulatory framework of the financial services industry, which is impacted by government policies and laws governing taxes, investment, and corporate operations in the country.
Economic includes GDP growth, inflation rates, interest rates that influence financial services demand and the investment climate.
Demographics-lifestyle choices and attitudes towards financial planning impact the
company’s client and service offerings.
Technological-it is the advancement that impacts on how financial services are offered and accessed, necessitating the company's use of digital tools and platforms.
Legal-compliance board meeting legal obligations and following rules. Domestic and international trade is critical for the company's operation and image. SWOT Analysis
Strengths include a strong dedication to ethics, personalised solutions, experienced staff and exceptional quality service to all the clients globally. Weaknesses include reliance on market circumstances, legislative changes that may affect operations, and poor brand awareness compared to rivals. Opportunities include increased demand for financial services. Expansion into new markets, technological advancements for service delivery. Threats include competition from established players, economic slums affecting investment, the attitude of clients and regulatory concerns.
