CONTENTS Chapter- 1 Introduction1.1 Abbreviation1.2 Industry Profile.1.3 Company profile.1.4 Key strength.1.5 Rewards.1.6 Major Players.1.

7 Who can be FC ?1.8 Work of FC.Chapter- 2 Objective.2.1 Limitation.Chapter-3 Methodology.3.1 Findings.Chapter-4 Conclusions.4.1 Suggestions.AppendixBibliography.

ACKNOWLEDGEMNT It is my proud privilege to express my sinceregratitude to all those who helped me directly orindirectly in completion of this project report.I am greatly indebted to Mr. .( .) Mr. .( ..) for their support, guidanceand valuable suggestions by which this work hasbeen completed effectively and efficiently . Theseall contributions are of immense value.I owe thanks to Mr. . for providing therequired data to complete this project. Withoutwhich it is not possible to complete the project

Last but not least we are indebted to thoseentire people who indirectly contributed and whomthis work should not have been possible.Endeavour has been made to make the projecterror free yet I apologies for the mistakes.

Last but not least we are indebted to thoseentire people who indirectly contributed and whomthis work should not have been possible.Endeavour has been made to make the projecterror free yet I apologies for the mistakes. . DECLARATION I hereby declare that his project report entitled A DETAILED STUDYOF RECRUITMENT AND RETNETION STRATEGIES OF FCs IN LIFEINSURANCE INDUSTRY WITH A SPECIAL FOCUS TO HDFC SLIC held at , is the result of Original work Carried out by me during40 Days. ( ) in intensive study of the field, for the award of theDegree of MASTER S OF BUSINESS ADMINISTRATION.

This Report has not been copied from anywhere, up to the best of mybelief and knowledge. It has not been submitted anywhere else for Award of any other Degree/diploma.

VISION STATEMENT The most successful and admired life insurance company,which means that we are the most trusted company, the easiest to deal with, offer the vest values for money, and easiest the standards in theindustry, In short, Them most obvious choice for all.

VALUES Integrity Innovation Customer centric. People care. Team work. Joy and Simplicity. INDUSTRY PROFILE INSURANCE: Insurance can be defined as assurance for uncertainty. Insurance is about somethinggoing wrong. Its often about things going right.; One of the Wonders of human nature isthat we never believe anything can actually go wrong.The insurance sector in India has come a full circle from being an open competitivemarket to nationalization and back to liberalized market again. Tracking the developmentin Indian insurance sector reveals the 360 degree turn witnessed over a period of almosttwo centuries.The business of life insurance in Indian in its existing form started in India in the year 1818 with the establishment of Oriental Life. Insurance Company in Calcutta. Some of the important milestones in life insurance business in India are. 1912: The Indian Life insurance Companies Act enacted as first statue to regulate the lifeinsurance business.1928: The Indian Insurance Compan9es Act enacted to enable the government to collectstatistical information about life and non-life insurance businesses.1938: Earlier legislation consolidated and amended to by the insurance Act with theobjective of protecting the interests of the insuring public.1965: 245 Indian and foreign insurers and provident societies take over by the central government and nationalized. LIC formed by an act of parliament viz. LIC. Act . 1956, with a capital contribution of Rs. 5 Crore from thegovernment of India INSURANCE R EGULATORY AND DEVELOPMENT AUTHORITY

Reforms in the Insurance sector were initiated with the passes of the IRDA Bill inParliament in December 1999. The IRDA since its incorporation as a statutory body inApril 2000 has fastidiously such to its schedule of framing regulations and registering theprivate sector insurance companies.The other d4ecisoin taken simultaneously to provide the supporting systems to theinsurance sector and in particular the life insurance companies was the launch of theIRDA online service for issue and renewal of licenses to agents

COMPANY PROFILEHDFC Standard Life Insurance Company Ltd. HDFC Incorporated in 1977 with a share capital of Rs 10 Crores, HDFC has sinceemerged as the largest residential mortgage finance institution in the country Thecorporation has had a series of share issues raising its capital to Rs. 119 crores. The grosspremium income for the year ending March 31, 2007 stood at Rs. 2, 856 crores and newbusiness premium income at Rs. 1,624 crores. The company has covered over 8,77,000lives year ending March 31, 2007.HDFC operates through almost 450 locations throughout the country with its corporatehead quarters in Mumbai, India. HDFC also has an International Office in Dubai, UAE,with service associates in Kuwait, Oman and Qatar. HDFC is the largest housing Company in India for the last 27 years. SNAPSHOT-I Incorporated in 1977 as the first specialized mortgage company in India. Almost 90% of initial shareholding in the hands of domestic intuitions and retailinvestors. Current 77% of shares held by foreign institutional investors

Besides the core business of mortgage HDFC has evolved into a financialconglomerate with holdings In: HDFC Standard Life insurance Company- HDFC holds 78.07 %. HDFC Asset Management Company HDFC holds 50.1% HDFC Bank- HDFC holds 22.25%. Intelenet Global (Business Process Outsourcing) HDFC holds 50%. HDFC Chubb General Insurance Company HDFC holds 74%

Besides the core business of mortgage HDFC has evolved into a financialconglomerate with holdings In:

HDFC Standard Life insurance Company- HDFC holds 78.07 %. HDFC Asset Management Company HDFC holds 50.1% HDFC Bank- HDFC holds 22.25%. Intelenet Global (Business Process Outsourcing) HDFC holds 50%. HDFC Chubb General Insurance Company HDFC holds 74%. SNAPSHOT-II Loan Approvals Rs. 805 billion.(up to Dec 2004) (US $ 18.30 bn.) Loan Disbursements Rs.669 billion(up to Dec. 2004) (US $ 15.20 bn) Housing Units Financed 2.5 million. Distribution Offices 181 Outreach Programs 90

KEY PLAYERS Mr. Deepak S Parekh is the Chairman of theCompany. He is also the Executive Chairman of Housing Development Finance CorporationLimited (HDFC Limited). He joined HDFCLimited in a senior management position in 1978.He was inducted as a whole-time director of HDFC Limited in 1985 and was appointed as itsExecutive Chairman in 1993. He is the Chief Executive Officer of HDFC Limited. Mr. Parekh isa Fellow of the Institute of Chartered Accountants(England & Wales).

Mr. Deepak M Satwalekar is the Managing Director and CEO of the Company sinceNovember, 2000. Prior to this, he was the Managing Director of HDFC Limited since1993. Mr. Satwalekar obtained a Bachelors Degree in Technology from the IndianInstitute of Technology, Bombay and a Masters Degree in Business Administration fromThe American University, Washington DC.

GROUP COMPANIES HDFC Bank: World Class Indian Bank- among the top private banks in India.HDFC AMC: One of the top 3 AMCs in India- Preferred investment manager.Intelent Global :BOPservicesforinternationalcustomers.CIBIL: Credit information services bureau.HDFC Chubb: Upcoming Private companies in the field of General Insurance STANDARD LIFE Standard Life is Europe s largest mutual life assurance company. Standard Life, whichhas been in the life insurance business for the past 175 years is a modern companysurviving quite a few changes since selling its first policy in 1825. The companyexpanded in the 19thcentury from kits original Edinburgh premises, opening offices inother towns and acquitting other similar businesses.Standard Life Currently has assets exceeding over 70 billion under its management andhas the distinction of being accorded AAA rating consequently for the six years byStandard and Poor.

SNAPSHOT Founded in 1875, company supporting generation for last 179 years. Currently over 5 m. Policy holders benefiting from the services offered. Europe s largest mutual life insurer.

JOINT VENTURE HDFC Standard Life Insurance Company Limited was one of the first companies to begranted license by the IRDA to operate in life insurance sector. Reach of the JV player ishighly rated and been conferred with many awards. HDFC is rated AAA by bothCRISIL and ICRA. Similarly, Standard Life is rated AAA both by Moody s andStandard and Poor s. These reflect the efficiency with which HDFC and Standard Lifemanage their asset base of Rs. 15,000 Cr and Rs. 600,000 Cr. Respectively.HDFC Standard Life Insurance Company Ltd was incorporated on 14thAugust 2000.HDFC is the majority stakeholder in the insurance JV with 81.4 %stale and Standard :of as a staple pf 18.6% Mr. Deepak Satwalekar is the MD and CEO of the venture.HDFC Standard Life Insurance Company Ltd. Is one of India s leading Private LifeInsurance Companies., which offers a range of individual and group insurance solutions.It is a joint venture between Housing Development Finance Corporation Limited (HDFCLtd.) India s leading housing finance institution and the Standard Life AssuranceCompany, a leading provider of financial services from the United Kingdom. Both thepromoters are will known for their ethical dealings and financial strength and are thuscommitted to being a long-term player in the life insurance industry- all important factorsto consider when choosing your insurer

BUSINESS GROWTH Track Record so far The gross premium income of HDFC, for the year ending March 31, 2007 stood atRs. 2, 856 crores and new business premium income at Rs. 1,624 crores.The company has covered over 8,77,000 lives year ending March 31, 2007. Company also declared our 5thconsecutive bonus in as many years for our with profit policyholders . KEY STRENGTH Financial Expertise

LOAN APPROVALS AND DISBURSEMENTS TotalTotalGrowth FY 05Growth FY 05 ApprovalsApprovals 30%30%DisbursementsDisbursements 28%28%

As a joint venture of leading financial services groups. HDFC standard Life has thefinancial expertise required to manage your long-term investments safely and efficiently. Range of Solutions We have a range of individual and group solutions, which can be easily customized tospecific needs. Our group solutions have been designed to offer you complete flexibilitycombined with a low charging structure. Strong Ethical Values: HDFC is an ethical and Cultural Organization. False selling or false commitment withthe customers is not allowed. Most respected Private Insurance Company HDFC was awarded No-1 Private Insurance Company In 2004 by the World ClassMagazine Business World. Integrity, Innovation and Customer Care.

MAJOR PLAYERSININSURANCEINDUSTRY LIFE INSURANCE CORPORATION Life insurance made its debut in India well ob4er 100 years ago. Its salient features arenot as widely understood in our county, as they ought to be. What follows is an attemptto acquaint readers with some of the concept of life insurance, with special reference toLIC. It should, however, be clearly understood that the following narration is by nomeans an exhaustive description of terms and conditions of LIC policy or its benefits or privileges.For more details, please contact our branch or divisional office. An LIC it will be glad tohelp you choose the life insurance plan to meet your needs and render policy servicing. ICICI PRUDENTIAL ICICI Prudential life insurance company is a joint venture between ICICI bank, a premier financial powerhouse and prudential plc. A leading international financial service groupheadquartered in the United Kingdom. ICICI prudential was amongst the first privatesector insurance company to being operations in December 2000 after receiving approvalfrom Insurance Regulatory Development Authority (IRDA) . ICICI Prudential equitybase 74% and 26% stake respectively. In the period AprilDecember 2004, the companygarnered Rs. Billion of new business premium for a total sum assured of over Rs 73.6billion and wrote nearly 345000 policies.The company has a network of over 50000 advisor; as well as 7 bank assurance tie-ups. Today, ICICI Prudential has emerged as the No -1 Private Life insuredin the country. With a wide range of flexible products that meet the needs of thecustomer at every step in life.

BAJAJ ALLIANZ: SHARED VISION A household name in India teams up with a global conglomerate Bajaj Auto Ltd, theflagship company of the Rs. 8000 corers Bajaj group is the largest manufactured of two-wheelers and three-wheelers in Indian and one of the largest in the world.A household name in India, Bajaj Auto has a strong brand image and localitysynonymous with quality and customer focus. With over 15000 employees, the companyis a Rs. 4000 crores auto giant. It is the largest 2/3 wheelers manufactured in India andthe 4thin the world .AAA rated by crises, Bajaj auto has in a operation for over 55 years.It has joined hands with Allianz to provide the Indian consumer with a distance option interm of life insurance products. As a promoter of Bajaj Allianz Life Insurance Co. Ltd.Bajaj auto has following to offer-Financial strength and stability to support the Insurance Business.A Strong brand-equity.A good market reputation as a world class organization.Adequate experience of r4unning a large organization.A 10 million strong base of retail customers using Bajaj Products.

Why HDFC is better ? 1.Investment returns:investment returns and business growth provided by HDFCis validated by bajaj Capital report. HDFC pacify the need of invertors up tohealthy level and make the strong relationship with them. 2.Financial Background and Experience:HDFC existing in the market since 1977.It has a very handsome experience in the field of finance because it completelyinvolved in finance Sector only where as the others are running in many other fieldalso like Reliance (Petroleum, Textile, Telecom etc.) 3.Ethics and Values:HDFC is an ethical and cultural organization which preventsthe false selling and prohibit the false commitment to the customer. 4.Sales Force:Properly trend licensed and Educated People are the strength of thecompany. So that they could give the best customer service.5. Huge branch network HDFC is having 450 branches in all over the country. 6.Online accessibility :It makes the process faster and make the customer delighted.Who can be the financial consultant: ?Section 42(4) of the amended Insurance Act, 1938 states an agent to be one who is not: Aminor. Found to be sound mind by a court of competition jurisdiction. Found guilty of criminal background. Found guilty of having knowingly participated in or connived at any fraud/dishonesty or misrepresentation against an insured. Work of financial consultant: The FC is the interface between the customer and insurance company. l The agentshould be able to accomplish the following service. Assessing and analyzing the clients risk profile. Finding the best product or products available in the market. Negotiating the best deal available. Continuity of service throughout the period of insurance.

OBJECTIVE Recruitment of Financial consultant (FCs) of a excellent profile and their retentionstrategies and what are their benefit that company going to provided for retention of their FCs.(A) What type of people are we looking for ?1- Committed people who have the drive, determination and ability to becomeprofessional financial consultants.2- Ability to sell a range of financial products.(B) What do We Expect from financial Consultant ?1- Devote a time and energy during training.2- Sell at least 5 policies each month once after licensed with company.3- We look forward to a long term mutually beneficial relationship.(C) Why should financial consultant choose HDFC standard life ?Brand value and the reputation of the partners (HDFC Limited) Market leader inhousing finance:15 lakhs home financed.11 lakhs retail deposits customer base. Reputation for providing the higher standards of customer service. Financial Strength of the partners. Brand value and the reputation of the partners standard life: 175 years experience in life insurance. Largest mutual life insurer in Europe. Product innovation.

Strategies:

Strategies Employed to achieve the target are as follows:Telecalling Contacting the person directly (interview) Collect references.Some important steps to make effective telecalling:-Open the call in a friendly and positive way.State the name, position and company name.Check the prospect has time to speak.State the reason for the call.Clearly succinctly explain how the meeting will be benefiting the prospect. Achievements: Recruited eight financial consultants for company.Increase in confidence level.Got the knowledge about, how to differentiate our product form that of LIC.Made more and more people aware about my companies Products (Policies)Taken some appointments for policies and got positive response from 8 persons with thehelp of my BDM

Limitations:So though the study aim to achieve the above mentioned Objective in full earnest andaccuracy, it may be hampered due to certain limitation. Some of the limitations are asfollows: To cover the various section for the society. Respondents may not be at home and may have to re-contacted or replaced byothers. Getting accurate response form the respondents due to their inherent problem isdifficult. Limited response from client. There is a time limitation it is not possible to study whole thing I covered somespecial aspect as well as some topics.

RESEARCH METHODOLOGY

Research can be defined as systematized effort to gain knowledge. A research is carriedout by different methodology, which has their own pros and cons.Research methodology is a way to solve research problem along with the logic behindthem. Thus when we talk of the research methodology we not only take of researchmethod but also context of our research study and explain why we are using a particular method or techniques and why we are not using other so that research result are capableof being evaluated either by the researchers himself or by others.Research methodology means the method carried out to study the problem . It shows thetype of the sample design used, its size and the procedure used to dew sample. The extentof precision achieved and the method used for handling any special problem during thecourse of the study. Research methodology has following steps: Step: 1 To decide the objective of the study.Step: 2 To design research design.Step: 3 To determine the source of data.Step: 4 To design data collection form.Step: 5 To determine sample size and sample design.Step: 6 To organize and conduct fieldwork.Step: 7 To process and analyze the collected data.Step: 8 To prepare the research report

Explanation

Step: 1 To decide the objective of the study to be carried out. To study about HDFC Standard life. To find the prospective financial consultant for thee company. To find retention strategies which provide to financial consultant.Step: 2 To decided the research design.What is research design ?Research design is a plan, structure, strategy of investigationconceived so as to obtain answer to research question and control variance. There arethree types of research design system. Explanatory Research. Descriptive Research Casual Research.Among the above mentioned types descriptive research design has been chosen.Descriptive research is to find ad efficient sales force, of FC. In order the study thecharacteristics and variables, cross sectional analysis was conducted by using fieldsurvey method . In the process of field survey, a questionnaire was developed andcirculated to the respondents, which formed the basis for entire research.Step: 3 To determine the source of data.Data source are the data resources or collection of fresh and data to obtainresults. There are two types of data sources: thus happen to be original in character.

Explanation

Step: 1 To decide the objective of the study to be carried out. To study about HDFC Standard life. To find the prospective financial consultant for thee company. To find retention strategies which provide to financial consultant.Step: 2 To decided the research design.What is research design ?Research design is a plan, structure, strategy of investigationconceived so as to obtain answer to research question and control variance. There arethree types of research design system. Explanatory Research. Descriptive Research Casual Research.Among the above mentioned types descriptive research design has been chosen.Descriptive research is to find ad efficient sales force, of FC. In order the study thecharacteristics and variables, cross sectional analysis was conducted by using fieldsurvey method . In the process of

field survey, a questionnaire was developed andcirculated to the respondents, which formed the basis for entire research.Step: 3 To determine the source of data.Data source are the data resources or collection of fresh and data to obtainresults. There are two types of data sources: thus happen to be original in character.

Primary Data: Primary data is that which is collected fresh and thus happento be original in character.

Secondary data:

Secondary data is any data, which have been gathered earlier for some other purpose.Among the above mentioned types of data was used for the study and analysis of theobjective of this project, Also the secondary to data proved to be helping hand in framingup the industry scenario and also the relevant topics in the entire project report. Reason for selecting primary data: In terms of primary data structure questionnaire was prepared to interview theprofessional, unemployed students, housewives, investment consultant, post office agentand other in Bilaspur location. Analysis clearly reflected the views and preferenceregarding the perception of the people towards joining HDFC standard life.Step 4: To design data collection.There are two types of mode to collect the data:-

Observation method.

Survey method. As for as the data collection method for this project is concerned, designing the datacollection forms or survey forms is applicable to the project. The method selected surveymethod.A survey can be conducted by:-

Personal interview.

Telephonic interview. 27

Amongst the above method personal interview method was conducted to gather information in detail . this method was chosen because along with the study of projectsprimary objective i.e. study of people and convince them to join as FC for HDFCstandard life.Step 5 To determine sample design sample size.Sample size specification155 which include professionals, unemployed student, Housewives, investmentconsultant, post office agent.

FINDINGS 1- Customers are less aware about the private insurance company in market.2- Some customer are like to join HDFC as FCs because it is a Part-time. 3-Many professions like CA, tax planner want a corporate age3ncy rather than to bea financial consultant.4- HDFC is too selective in making a FC rather than to appoint any one like LIC.5- Customer don t want to join as financial consultant because it s on commissionbasis the4y want job on salary basis. 6-Educated customers are now vending towards private insurance Companies, due tothe attractive packages and services provided by various new insurancecompanies. 7-LIC has created a branded image in 3-4 decades, due to which new insurancecompanies are facing trouble in capturing market share. 8-If the customers are joining HDFC the segment is more of tax consultant,investment for consultant and other people who are engaged in investmentbusiness that is because they want to diversity their portfolio.9- HDFC SLIC is having good retention strategies for their financial consultant. Reason for not joining HDFC SLIC. Associated with an other company. Do not have time Low sales. Private Player. Lack of awareness.

CONCLUSION After collection of data interpretation is done on that basis conclusion is drawn. Theconclusion drawn.Conclusion prefer government insurance company other than private insurancecompanies due to its reliability.Customers are more brand oriented rather than product oriented.Customers are less aware about the private insurance companies.Private Players in order to encase maximum number of customers are introducing newand innovative scheme for their FC.Customers like to invest in other investment zones due to the hectic rules and regulationsassociated with, entering into a contract with insurance companies.Customers do not feel secure with private insurance companies.Customers don t want commission base job.The central problem with the insurance companies is having that they are trying toconvince customers for a product which do not have any present relevance, i.e. eachpolicy which the customer is going to purchase will have a future set of action andbenefits. Due to which most of the people like to invest in those securities or investment, which will give them a fruitful return in short period of time ?Life insurance Corporation has completed more than three decades andthat s where counts, inters of brand name, different number of policies for differed classand age group of customers.The Private players are on the way, but they need a lot of time investment for creating afavorable brand image.

SUGGESTIONS Customers should be made aware of the brand name of Insurance companythrough advertisement. The fear in the customer mind should be removed by company. The insurance companies should try to nurture their brand name timely andattractive facility provide to customer.

B ENEFITS

OF

BEING

A F INANCIAL C ONSULTANT

ARE

AS

FOLLOWS : Financial consultant, the right way to start career: As a financial consultant the role will be to identify prospective customer. You willmakes presentation, as to how you can help analyses their financial needs, providecustomize financial solution to cater to their respective needs and conduct reviews onregular basis to keep customers on thank. Easy way to start on career: Zero investment: There is no start-up capital. Be an own boss with a flexible workingenvironment, unlimited earning potential and the opportunity to be part of world classsales team. Flexible work timings, part time or full time:FCs can work whenever he likesand from whereeve4r he like, FCs can work full time depending on their convenience itslike no other job however, the time. Sunrise industry: Life insurance in India has a huge potential for growth Statisticsreveal that only 25% of the insurable population in India is insured and those insured arein need of still higher insurance cover. The over 100% growth displayed by privatelife insurers indicates this hu7ge untapped potential. Strong Partnership:

A powerful brand HDFC Standard Life Insurance:We were the first private life insurance company to be granted a license by IRDA.We have been rated by business world magazine. As Indies most respected private lifeinsurance company 2004.We have grown over 130% in the last and more than 8 Lakhs policy holder. HDFCstandard life insurance has one of the highest brand recall of around 80% PROFESSIONAL TRAINING PROGRAMS AND CONTINUID GUIDANCE: At HDFC standard training is an inherent element of our support system for FCs. Someof our training and support initiative are as: IRDA Training:Online training of 100 hrs. prepares for career as FCs and enables topass the IRDA examination. After the IRDA license, first step towards a successfulcareer as a FC. Basic Training and Induction:Independence of work experience, this training will giveperfect knowledge about the insurance industry along with comprehensive knowledgeabout the insurance along with comprehensive knowledge abut HDFC SLIC Product. Disha training:This is a professional sales skill program eased by us to one sellingskills. Those program enable to understand customer need and provide need basedinsurance solution.. A huge step from an amateur to a true finance professional. Advance Training:Once Fc have settled down as a FC professional we willcontinuously upgrade capability and knowledge through sophisticated training program,fit for this dynamic world of financial products and markets. UNMATCHED SUPPORT: Marketing activity support to make task easier.

Q.1: Do you know about HDFC SLIC ?Ans: (a) Yes (b) NoQ.2: Do you know about the working of financial Consultant of HDFC SLIC ?Ans: (a) Yes (b) No (c) Insufficient Information.Q.3 Do you currently have an agency of any life insurance Company ?Ans: (a) Yes (b) NoQ.4 What would be the size of your social contact base who knows you on first namebasis ?(E.g : Friendly, family, relative, colleagues if any etc.)Ans: Mention in appropriate nos.Q.5 How many members of your family are dependent on the income earner of thefamily ?Q.6 Do you have an idea about financial market ?Ans: (a) Yes (b) NoQ. 7 Do you have any sales experience ? If yes, how many years ?Ans: (a) Yes (b) NoQ.8 Do you have experience in selling financial product ? e.g. credit card, insurance etc? If yes how many years ? (If yes to question 6)Ans: (a) Yes ( ) (b) No ( )Q. 9 What do you think ? in today s scenario life insurance Is NEED, WANT ANDDEMAND ?Ans:Q.10 In which of the financial market you have invested your money ?Ans: (a) Share (b) Mutual fund (c) Insurance.

Q. 11 Are you interested in getting the opportunity of earning some additional income asbeing financial consultant of HDFC SLIC and why ?Ans: (a) Yes (b) No Your Signature. ABBREVIATIONS 1- HDFC- Housing Development Finance Corporation.2- SLIC- Standard Life Insurance Company.3FC- Financial Consultant.4- SDM- Sales Development Manager.5- BDM- Business Development Manager.6- CFC- Certified Financial Consultant.7- LA- Life Assured.8- SA- Sum Assured.9- TERMNo. of Years.10- ADB- Accidental Death Benefit.11- CI- Critical Illness BIBLIOGRAPHY Reference: To obtain more information regarding present study and tosubordinate it with theoretical proof following references were made. Books Referred: Personal management. Book of license training programme for insurance advisers