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Sureti IMF: Praveen Michael Joshva. I

This document is Praveen Michael Joshva I's internship report submitted in partial fulfillment of an MBA at St. Joseph's Institute of Management. It summarizes Praveen's internship at Sureti IMF, an insurance marketing company. During the internship, Praveen completed policies for three LIC plans totaling over 30,000 rupees. Praveen also led a team and received awards for performance. Key lessons included learning about insurance plans and sales tactics. Challenges included the lack of in-person connections during virtual internship.

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235 views

Sureti IMF: Praveen Michael Joshva. I

This document is Praveen Michael Joshva I's internship report submitted in partial fulfillment of an MBA at St. Joseph's Institute of Management. It summarizes Praveen's internship at Sureti IMF, an insurance marketing company. During the internship, Praveen completed policies for three LIC plans totaling over 30,000 rupees. Praveen also led a team and received awards for performance. Key lessons included learning about insurance plans and sales tactics. Challenges included the lack of in-person connections during virtual internship.

Uploaded by

Enosh s
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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St.

Joseph’s Institute of Management (JIM)


A Jesuit Business School
St. Joseph’s College (Autonomous), Tiruchirappalli 620 002

SUMMER INTERNSHIP PLACEMENT (SIP) REPORT 2021


Submitted in partial fulfillment of the requirements for the award of MBA

Praveen Michael Joshva. I

Sureti IMF

Faculty Guide : Dr. S. Suresh


Assistant Professor
ST. JOSEPH’S INSTITUTE OF MANAGEMENT (JIM)
A Jesuit Business School
St. Joseph’s College, Tiruchirappalli 620 002, Tamil Nadu, India

CERTIFICATE

This is to certify that the Summer Internship Placement (SIP) Report is an authentic record of

Praveen Michael Joshva I (19PBA245) carried out in Sureti IMF in partial fulfilment of

the requirements for the award of MBA.

Dr. V. Joseph Xavier S J


Executive Director

Dr. P. Jega Patrick


Dean-Academics

Prof. Dr. S. Suresh


Assistant Professor
Faculty Guide.
DECLARATION

I hereby declare that the report is based on my internship in


(Company Name) during the period from 09/11/2020 to
09/01/2021 under the guidance of Ms Lidiya Dominic, and
Prof. Dr. S. Suresh , St Joseph’s Institute of Management (JIM),
Tiruchirappalli.
Table of Contents

S.No Title Page No:

1 Company Profile

2 My Job Description

3 Tasks completed during internship

4 My achievements

5 Learnings from internship


Company Profile.

Sureti Insurance Marketing Private Limited is an IRDA accredited company


founded in 2018 and is headquartered in Coimbatore. Sureti IMF deals with Financial
Goods and Savings. It is an insurance marketing company working with leading insurance
providers such as India Life Insurance Corporation (LIC), ICICI Prudential, United India
and Star Health Insurance in partnership.

In just a year of its incorporation it has offered its service to more than 200
customers in life insurance , more than 190 in health and more than 250 in general
insurance.

❖ Life Insurance - LIC and ICICI prudential


❖ Health insurance - Star health Insurance and Regional Health Insurance
❖ General insurance - ICICI lombard and United India General Insurance

Insurance Business.

Insurance is the redistribution of risk and applied mathematics and statistics called
actuaries use their skills to make reasonable assessment of the probability of each of these
companies having a total loss in a given year. These companies have a 1 percent chance of
a total loss. To make money , the insurance company has to change each building client
enough for their insurance to pay off the probable loss. In a sense, the claims of the
insurance have been settled for the customer when a customer files for a claim, the
company must process it and check it for accuracy and submit payments.
Where do they Invest.

Mainly insurance company could invest in the stock market and stocks can represent
a relatively small portion of their investment portfolio. For the life insurance companies,
stock market investment represents around 5 percent of the total holding. They predict the
future cash flow.

Insurance Service Of Sureti IMF.

 Life Insurance
 Health Insurance
 General Insurance

My Job Description

Project Domain: Sales & Marketing, Sales & Finance, Sales & Operations, Sales
& HR

To generate sale through cold calling and getting an over view of sales pitch
Sales is a necessary part of this internship and along with it students can choose a
project in any domain for the company
Tasks completed during internship.

Policy completed during the Internship.

LIC’S Jeevan Anand [ plan- 915 ] - 16,562


LIC’S Jeevan Anand [ plan- 915 ] - 6,014
LIC’S Jeevan Labh [ plan- 936 ] - 9,286

My achievements

I have been the team leader for a group during my internship which helps me to
build my leadership and speaking about my achievements I have received quick
starter certificate and a medal for the company during my internship.

BENEFITS AND LEARNING FROM THE VIRTUAL INTERNSHIP.

● We heard about the insurance plans we used while selling insurance policies and
their benefits.

● Used a tactic when selling the insurance policy.

● It was simple to sell because of the covid-19 insurance scheme where many were
interested in health insurance but the premium is very high

● I have developed my communication skills by insurance policy sales.


● Through this internship, I have strengthened my leadership skills.

CHALLENGES FACED DURING THE INTERNSHIP

 Due to the virtual mode, Inter's personal connection was missing and convincing
was very difficult .
 Customers are struggling to adapt their implementation plans and the bandwidth and
energy needed to run new initiatives and produce new content.
 The biggest concern was face-to-face contact.
 Customers desired relationships of confidence, but this was not fulfilled because of
COVID-19. So we weren't able to achieve our goal.
 I am not able to generate more leads other than contact.

Conclusion.

Insurance is a Protection for you and your family. Your family depends on your
financial support to enjoy a decent standard of living, which is why insurance is especially
important once you start a family. It means the people who matter most in your life may be
protected from financial hardship if the unexpected happens.

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