EXPERIENCE IN INSURANCE INDUSTRY

SUMMER INTERNSHIP PROJECT FROM MAX NEW YORK LIFE INSURANCE.


As per my MBA schedule from IIPM KOLKATA I preferred MAX NEW YORK LIFE INSURANCE company over many other companies which came to IIPM campus for internship project. Prime reason at that point of time to choose it over other options i.e. STANDARD CHARTERED BANK, RELIANCE MONEY, MINT PAPER ( H.T.), etc, was that work offered here was quite lucrative and attractive.

Interns in MAX, were given three basic projects.
1) RECRUITMENT
2) DEVELOPMENT OF RECRUITED PEOPLE,
3) RISK MANAGEMENT ( FACT FINDING ).

The whole tenure of training was of just 2 months, but in this small period I was lucky to have a considerable exposure to INSURANCE industry, corporate life, inside politics, cut throat competition and surviving the immense pressure from higher authorities, how to handle your boss, and side effects of working with baggage of insurance tag word.

Its quite funny and surprising to realize that not only uneducated people but literate society is also so negative about insurance industry. Thinking about insurance everyone just start thinking about liability of paying premiums, deaths, bugging advisors and all negative supportive elements pops-up in everybody's mind. But like any other industry insurance industry has many positive elements, which are beneficial to society, government and even insured individual citizen. I wont diverge my topic from my experience of MAX to parasol of insurance  industry, so quickly i will love to summarize my experience of summer internship with MAX NEW YORK.

Recruitment phase was really practical and helped me understand human psychology, as it purely exposed me to human resource and leadership quality inside me. Then following the process we had to develop those recruited person with skilled and organized fashion. Risk management involved finance expertise as it dealt with risk involved in assessment of clients mortality rate, i.e chances to die and in terms risk liability ratio needed to be calculated from some specified techniques. Fact findings dealt with clients assets/ liabilities ratio and consulting them proper financial plan to assist their respective portfolio in much safe and profitable manner.

During my short journey with MAX NEW YORK LIFE INSURANCE i understood the value of being all rounder. Corporate world is quite merciless in terms of expectations it expects from every one to know every thing. One needs to possess required talent and knowledge about almost anything and everything to be a good manager and survive the cut throat competition.

Mr. Abhishek Mukherjee , Mr Kaushik Majumdar, and Mr Ritoproto Goswami were my hard core mentors in MAX NEW YORK, I did my internship under there wise guidance at Kolkata VIII office,
84, RAJA S.C. MULLICK ROAD,
NEAR GANGULYBAGAN BUS STOP,
BAISHALI HOUSE, 1ST FLOOR;
GARIA ( KAVINAZRUL  METRO STATION);
KOLKATA - 47


To summarize my experience there I can suggest everyone to be open to all opportunities and maintain learning spirit throughout there journey, I had quite fruitful time in my small association with insurance sector.

VIJAY POPAT