INTRODUCTION
In today's modern day, there are many hidden dangers all around us Therefore, having a life insurance policy is necessary for each of us For you and your family, life insurance plays the role of providing financial protection for your family, creating savings for the future, and financial preparation for a comfortable retirement In addition to protecting life when unexpected risks occur, life insurance also shares risks in the community by taking the majority to offset the few This helps compensate for the loss of the less fortunate, creating conditions for each individual to be confident in living happily, and pursuing big dreams and ambitions in the future.
Not only that, but life insurance also contributes to society specifically, such as: mobilizing idle capital, contributing to controlling risks, limiting losses and ensuring safety for the economy, create jobs for workers Owning a life insurance policy shows responsibility to yourself, your family and the community is a way to show love in action In Vietnam, the life insurance industry is one of the relatively young industries, starting in 1996 Since then, in the context of deepening integration, the life insurance industry has had many transformations importantly, gradually entering people's subconscious is one of the methods to overcome financial difficulties when facing risks Moreover, it brings a state of mental safety and reduces anxiety to the insured Today, the insurance industry faces challenges and opportunities through the country's socio-economic development.
Understanding that I decided to work in the insurance field for this internship and the company that I decided to do the internship with was Manulife Vietnam Co., Ltd Manulife is one of the leading life insurance companies in Vietnam Manulife is a Canadian life insurance company that has been in the life insurance business
My internship position is as a financial advisor of Manulife working on the 20th floor of HIU building (Hong Bang University), 215 Dien Bien Phu Street, Ward 5, Binh Thanh District, Ho Chi Minh City.
• For the purpose of the internship is:
- Find out the organization and operation of the business, and clarify the advantages and limitations of the business on the sales plan.
- Finding solutions to overcome the limitations of the business.
- Analyzing the current situation of sales planning at Manulife Vietnam Co., Ltd.
- Proposing recommendations to contribute ideas on sales planning at Manulife Vietnam Co., Ltd.
- Experience the real working environment
INTRODUCTION OF THE ORGANIZATION
General information
Full name: Manulife Vietnam Co., Ltd
Address: Manulife Plaza Building, 75 Hoang Van Thai Street, Tan Phu Ward, District 7, City Ho Chi Minh City
Working address: 20th floor, HIU Building, 215 Dien Bien Phu Street, Ward 15, Binh Thanh District, Ho Chi Minh City
Email: manulifevn_info@manulife.com
Website: https://www.manulife.com.vn
Legal representative: Lee Sang Hui
Regional Director: Nguyen Hoang Son
Figure 2: Logo of the Manulife Vietnam Co., Ltd
The business activities
Manulife Financial was established on June 23, 1887, Manulife Financial Group has been operating in Canada for more than 120 years and has been doing business around the world for about 110 years now The first chairman of Manulife Financial was Mr John A MacDonald, who was also the first Prime Minister of Canada.
Manulife Vietnam was established in June 1999 in Ho Chi Minh City, as a joint venture between Manulife Financial Group (60%) and Chinfon Global Group (40%) This was the first foreign life insurance company in Vietnam at that time.
In January 2001, Manulife Financial Group acquired 40% of Chinfon Global's capital contribution and became the group that owns the Company's entire capital contribution in Vietnam The company officially changed its name to Manulife Vietnam Limited Liability Company.
Manulife Vietnam is the earliest foreign life insurance company present in Vietnam and is currently one of the insurance companies with the largest total charter capital in Vietnam with 15,370,000,000,000 VND as of January 28, 2021
Manulife Vietnam has grown rapidly to become a world-class company providing a wide range of high-quality financial protection products and the best services to Vietnamese clients Since its inception, Manulife has helped more than 1.5 million customers in Vietnam make financial plans for life With a team of professional consultants and strategic partners to distribute insurance products and a network of
With the motto: "For the future of customers", Manulife Vietnam has devoted itself to bringing joy, happiness, and benefits to many customers across the country and achieved many great achievements.
In 2001: April, Manulife Vietnam became the first Life Insurance Company in Vietnam to open its Website to help customers easily access necessary information about the Company's products and services.
In 2003: In March, Manulife became the first life insurance company to declare a profit after 3 years of operation, marking an important milestone in the life insurance industry in Vietnam.
In 2004: Manulife Vietnam's total premiums and deposits increased by 14%. Public funds under management increased 94% compared to 2003.
From the years 2014 to 2016, Manulife received a rain of awards with excellent strides.
In 2015, Manulife Vietnam continued to be a successful year when it was honored to receive the Golden Dragon Award with the title of "Best Vietnam Insurance" organized by Vietnam Economic Times This is also the 6th time Manulife is honored to receive this prestigious award.
In 2016, continuing the rain of awards, Manulife was honored to be in the top brands awarded "Vietnam Top Trade Services Awards 2016" This is one of the company's greatest achievements since its founding.
In the last 3 consecutive years, Manulife Vietnam has won many important awards such as:
In 2020: Manulife Vietnam was honored in Anphabe's annual "The 100 VietnamBest Places to Work" survey, continuing to maintain its #1 position in the competitive insurance industry category for 3 consecutive years and holds position #16 in the list of 100 companies in all fields.
2021: Named "Life Insurer of the Year" at InsuranceAsia News Awards for Excellence 2021
2022: Continue to receive the title of "Digital Health & Wellness Leader of theYear" at the Golden Dragon Award 2022 This is the 12th time Manulife Vietnam has been honored at the Golden Dragon Award.
The target customers
- Age: 18 years old and up
- Gender: both male and female.
- Occupation: all occupations except those specified by the company are not approved for insurance, mainly in the group of dangerous occupations and do specific jobs with high risk.
- Participate in many outdoor activities
- Take care of yourself and your family's health
The competitors
As of December 2021, there are a total of 18 life insurance companies operating in Vietnam, of which some prominent companies and Manulife's main competitors are Baoviet Life Corporation, Baoviet Life Corporation, and Baoviet Life
Insurance Corporation Prudential Vietnam Life Insurance Company Limited, AIA Vietnam Life Insurance Company Limited, Dai-ichi Vietnam Life Insurance Company Limited.
Company Deployment start year Investment country Type of business Number of agents Market share in the first 10 months of 2021
Bảo Việt 1996 Việt Nam State enterprises
Dai-ichi 2007 Nhật 100% foreign capital
The achievement of the company
During 23 years of operation in Vietnam, Manulife Vietnam has received the highest title in the Million Dollar Round Table (MDRT) in 2021 with the achievement of being the leading company in Vietnam in terms of the number ofMDRT members This stunning result reaffirms the company's commitment to professionalism and enhanced customer experience.
Manulife Vietnam conquers the No 1 position in the market with a record of 1,669 agents becoming MDRT members as of July 1, 2021, while maintaining the
No 12 position in the 'Top 100 Top 100 Companies' list ' globally Compared to the same period in 2020, the number of MDRT members in 2021 Manulife Vietnam increased by 51%.
Manulife Financial Group also ranks 3rd in the list of 'Top 10 Multinationals' on the global MDRT rankings For three consecutive years, the group has maintained the 3rd position in global MDRT, reaching 6,129 MDRT members with a growth of 64% compared to the same period last year Manulife Vietnam has contributed more than 27% of the MDRT membership of the Manulife financial group.
Besides, Manulife Vietnam has just been honored as "Insurance Company of theYear" at the 7th Asia Trusted Life Agents & Advisers Awards 2022 in 2022.Bringing home a prestigious medal at a prestigious industry event, This award honors the best life insurance advisors and agents across Asia.
The organization structure
PSSM (Project Senior Sales Manager)
POSITION AND TASKS
Department and working position
I was accepted to work in the sales department as a trainee FA (FinancialAdvisor) My working area is DBP 96 with 283 members divided into 5 small teams Each group will have an executive group leader and guide In my small team, there are 10 members including the leader and also my mentor, Ms TranBoi Loi, her position is SUM (Senor Unit Mnager), 4 FTA (Full Time Advisor),and 5 FA Working time 8:30 - 17:00 Lunch break 12:00 - 13:30 Every morning there are 30 minutes to listen to Manulife's morning radio program, where experts share their stories and experiences with new members So the official working time is at 9:00 My main activities during the internship period are participating in training courses to improve professional skills and completing assigned tasks, the tasks are described as follows.
Task
3.2.1 Complete the MIT (Manulife Initial Training) course:
Before officially being admitted to the internship, I had to complete the MIT course and take the exam at the Ministry of Finance with a score of 30/40 to be considered satisfactory.
The MIT course is Manulife's first foundational training program exclusively for insurance agent candidates After completing the Manulife agent recruitment process Currently, the MIT course takes place in two forms as follows:
1 MIT online learning online on the training system ManuAcademy
2 MIT Offline is a direct study at the Manulife office.
The MIT Manulife class includes 40 hours of training (equivalent to 5 days)
Manulife insurance products As well as helping candidates pass the required industry exam to be licensed by the Ministry of Finance to sell insurance in Vietnam
On the 5th, students will take an official exam at the Ministry of Finance to ensure they are qualified to start a business with Manulife.
• Difficulties: During the learning process, I had difficulty with a lot of knowledge within 3 days so that I could grasp it thoroughly The company intranet is often disrupted
• How to overcome: try to study more to keep up with the learning progress and recommend to the company about upgrading Wifi packages.
Results obtained: after the course, I have gained basic knowledge in the insurance field such as terminology, insurance business law, insurance agents, and life insurance products
3.2.2 Design illustration board for customers:
Life insurance premiums are usually very long and come with many benefits. Therefore, to help participants easily visualize, insurance companies often provide insurance illustrations The table of insurance illustrations will give buyers an overview of the benefits they receive with the premium they want to pay annually.
An illustration board is a draft contract, illustrating the benefits of insurance customers will be detailed and specific in terms of norms, terms, and cash flow
After exploiting the needs of the customer, the agent will analyze and design the illustration suitable for each customer's financial and healthcare needs.
• Difficulties: although customers often ask consultants to send the first and then participating is not low because they do not understand how to read the illustration board so the illustration board should be consulted directly There are also many cases where customers request to fix the illustration board many times, which consumes a lot of time and meetings for both sides.
• How to overcome: although difficult, because of the nature of the work, it requires perseverance and trying to satisfy customers
• Results obtained: practical experience in analyzing customer needs and designing illustrated tables.
Telesales is the work of directly contacting customers via mobile phones to introduce and promote products or services of the company doing business From there, search and store information about potential customers who can become business partners of the company.
The telesales forms will be guided by the predecessor, on how to handle the situation, and have specific examples to practice To make the process go more smoothly and effectively, every week there will be a meeting with team members to share their experiences and together find ways to come up with the most effective solution In addition, the company and team leader also facilitate new members to fight by providing customer data when needed.
• Difficulties: often rejected by customers and very low success rate In addition, you must use your phone to work
• How to overcome: ask for advice from brothers and sisters and improve your skills, and recommend to the company about providing landline phones to support telesales work At the beginning of September, the company provided offices and equipment (telephones) for more convenient telesales.
After 12 years of research by Manulife experts, on September 04, 2022, the company had an urgent meeting to implement a plan to apply this financial planning tool to the entire Manulife system During the meeting, the senior manager, Mr Dang Van Tan deployed and provided specific instructions on how to use and approach customers of this toolkit Specifically, agents will approach customers in locations of coffee shops, commercial centers, or crowded areas to survey customer needs.
• Difficulties: 70% success rate, but difficult to get contact information of customers.
• How overcome: report the above situation to management levels to find a suitable solution
• Results obtained: there are more potential customers, and each report is supported by the company 50,000 VND.
WORKING ENVIRONMENT
Company facilities
The company is located in the HIU building with a campus of 3 floors 20, 21, and
22 The 20th floor is the main working area of the consultants and the meeting room of all levels of management The 21st floor is the administrative document processing area and the 22nd floor is the training course.
Working atmosphere
The young and dynamic working environment does not have a big generation gap, having regular gatherings to eat and drink At the end of each month, there will be a big party for the big team DBP 96 In addition, at the beginning of each month, there will be meetings for members of the small team to committee goals to plan sales for the month And if the quota is met, you will enjoy a day out.
Flexible working time, because of the nature of the job, we often meet with customers and go on surveys, so we do not always need to be at the company The workspace is comfortable, there are many departments and areas to regularly change to create new inspiration.
Relationship with colleagues and supervisor
Colleagues in the company are very sociable, open, and easy to talk to We often share our experiences and difficulties and encourage each other in our work Group leaders often organize meetings so that members have the opportunity to meet and talk to each other My supervisor, Ms Loi, always enthusiastically supports me when I have difficulties at work and shares a lot of experience with me In addition, the bosses often hold meetings to listen to our difficulties from which to give advice and orientation and give us full support.
SELF-EVALUATION
My weaknesses
During my working time, when I saw that my team members signed an insurance contract with a customer, I did not have a contract yet, so I always felt self- conscious and self-pressured in the process work In the process of taking a survey to find potential customers, I was forced to contact strangers to survey them and I was afraid to talk directly with strangers, so I felt that surveying was a weakness of my team self And the last thing is that I lack initiative in work because of the nature of freelance work and each person will have a different the members as well as does not have specific tasks for them every working day
So there are days when I go to the company I don't know what I do and feel quite lost.
Suggestions for self-improvement
First, about self-pressure, I met my team leader who is also my mentor to share my difficulties and listen to their advice for a better solution to my problem, Ms The leader and team members also sympathize and encourage and support me a lot.Next is to improve communication skills, attend communication skills courses, ask for more advice from instructors, and colleagues and try to practice communication more to improve your skills Finally, talk to the team leader about coming up with specific tasks that I can follow At the same time, it is setting goals for yourself to have direction and motivation to complete the work.
RECOMMENDATIONs
The company
First, the company's wifi is very weak and often interrupted, leading to the fact that when the counselors study online training courses, they are often out,interrupting the learning, leading to the inefficient acquisition of knowledge .Consultants, while submitting the contract due to weak transmission lines, have to repeat this process many times to succeed, leading to reduced work efficiency.Therefore, the company should consider upgrading the wifi package to work smoothly and work better Next, the company does not have a specialized department for recruitment and training, but you will be the ones to directly recruit and guide new members The leaders due to too much work cannot handle all the new members Therefore, the training is not highly effective The company should consider having a department dedicated to recruiting and training new members for timely guidance and support.
The future interns
First, interns should dress appropriately when going to interviews and working at the company You should carefully research the company and the job you are about to practice to equip yourself You should set specific goals for yourself when working to practice discipline and perseverance Finally, you should look for an internship that suits your future direction.
I hope future trainees will change in a more positive direction and prepare more carefully for themselves at the beginning of the internship Try to improve yourself every day and accumulate more practical experience so that after the internship,you will have specific career orientations for your future.
CONCLUSION
In the life insurance business, apart from the difficulties brought by normal business activities Life insurance companies also face the difficulties of regulated insurance industry characteristics However, due to the continuous development of socio-economics, along with the growth rate of the industry The company always tries to improve the business environment, organization, service provision as well as effective sales tools policies to improve the competitiveness of its products and services.
Through my internship and fact-finding at Manulife Co., Ltd., I see that this is a promising company in the industry Over the years, the company's business activities have always had good development, the secret to the company's success is to constantly improve the number of employees, thereby reaching out to many potential customers and constantly improving the quality of services look at the insurance for Vietnamese people in general.
During my internship at the company, I have accumulated a lot of practical experience and sales skills, drawing out my strengths and weaknesses From there,
I will have my plans and goals to improve myself In addition, I have more relationships with colleagues in the company, with the enthusiastic attention and help of the instructor and team members.
After 7 weeks of internship at Manulife Vietnam Co., Ltd., being trained and surveyed in the sales department, I boldly came up with some solutions with the desire to contribute to improving sales at the company But due to limited personal knowledge, the report does not avoid shortcomings Therefore, I look forward to receiving valuable comments from teachers and friends to improve the report.
Chi.P.T.&Ly.H(2022).Tìm hiểu về các công ty bảo hiểm nhân thọ tại Việt Nam.thebank.vn Retrieved from https://thebank.vn/blog/8885-tim-hieu-ve-cac- cong-ty-bao-hiem-nhan-tho-tai-viet-nam.html?fbclid=IwAR3JJZNg0EiJRXy7- J4HVbnyhW1WCiAJCbbuHlVYYBgVwJ_w3C8LOt5VUdc
Quyen.L.T & Chi.P.T (2022).Thị phần công ty bảo hiểm nhân thọ thay đổi như thế nào năm 2022?.thebank.vn Retrieved from https://thebank.vn/blog/18436-thi-phan-cong-ty- bao-hiem-nhan-tho-thay-doi-nhu-the-nao-nam-2020.html? fbclid=IwAR0GCkL5gcZB7UAgbvYm6o4KyyhclDo- ic6gnY5oI6xUt6DrbQBDgRcWpuw
SỔ NHẬT KÝ THỰC TẬP
Họ tên sinh viên: Lê Thị Thụy Đoan
Cơ quan đến thực tập: Mannulife Vietnam Company Limited
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Ngày Công việc được giao Kết quả đạt được
Khó Khăn gặp phải (nếu có) 23/07/2022 Dự một buổi khai giảng để giới thiệu cũng như chào mừng các ứng viên đến Manulife và hướng dẫn sử dụng ứng dụng ManuAcademy Nhắc nhở thời hạn hoàn thành khóa học MIT và ngày đi thi Sau buổi khai giảng, các ứng viên bắt đầu học MIT.
25/07/2022 Đã hoàn thành xong các khóa học trên hệ thống
ManuAcademy Trong lúc học ứng dụng hay bị lỗi, không thể qua bài tiếp theo nên phải thoát ra vô lại nhiều lần.
26/07/2022 Lớp MIT-BLENDED KHỞI NGHIỆP CÙNG
MANULIFE VIỆT NAM (8H30-17H00) Tham dự buổi ôn tập, rút gọn kiến thức và làm 2 bài kiểm tra thử.
Hai bài kiểm tra điểm trung bình từ 30 trở lên thì đạt yêu cầu đi thi tại Bộ Tài chính.
27/07/2022 8h30-11h30: Tham dự lớp hướng nghiệp
14h30: Thi online tại trụ sở của bộ tài chính tại Lầu 3,264B Lê Văn Sỹ P14 Q3 tphcm
28/07/2022 9h00-16h30: đến công ty học các sản phẩm trên website https://manulife-mba.axonify.com/training/ index.html#index Sản phẩm học: món quà tương lai ILP
29/07/2022 9h00-16h30: đến công ty và tiếp tục học sản phẩm (ILP)
- Nói về cách thức telesales
- Cung cấp data khách hàng
- Tìm kiếm khách hàng tiềm năng
Ngày Công việc được giao Kết quả được đạt
Khó Khăn gặp phải (nếu có)
01/08/2022 9h00-16h30: đến công ty và tiếp tục học sản phẩmTự học các sản phẩm trên web https://manulife- mba.axonify.com/training/index.html#index
Về sản phẩm bổ trợ mới CI Plus & MC Plus Tham gia buổi học về Thủ tục hành chính
02/08/2022 9h00-16h30: đến công ty và tiếp tục học sản phẩmhttps://manulife-mba.axonify.com/training/ index.html#index các khóa sản phẩm bổ trợ có khấu trừ rủi ro và khóa học sản phẩm cancer360
Telesales và được các anh chị hướng dẫn làm Bảng minh họa
Có cuộc họp khẩn lúc 14h30 để nói về công cụ bán hàng và công cụ tuyển dụng, chính sách thu nhập Hướng dẫn sử dụng Làm các bảng khảo sát nhu cầu bảo hiểm của khách hàng, khảo sát tuyển dụng.
Telesales, thiết kế bảng minh họa
Có một cuộc họp ngắn để bàn về địa điểm và chia nhóm đi khảo sát.
Yêu cầu mỗi thành viên là 10 người
Có người khách hàng từ chối làm bảng khảo sát
Ngày Công việc được giao Kết quả được đạt
Khó Khăn gặp phải (nếu có)
Telesales Bị khách hàng từ chối nhiều lần
09/08/2022 Tiếp tục đi khảo sát Có nhiều khách hàng không đồng ý làm khảo sát
10/08/2022 Có một buổi họp để quản lí hướng dẫn sử dụng bông hoa tài chính trên excel Được mấy anh chị đi trước thị phạm cách khảo sát khách hàng
Vẫn chưa nắm rõ về việc sử dụng bông hoa tài chính để tư vấn cho khách hàng
Tiếp tục học sản phẩm trên website: https://manulife-mba.axonify.com/training/ index.html#index sản phẩm sống khỏe mỗi ngày HCR2019
Telesales Bị khách hàng từ chối
Ngày Công việc được giao Kết quả đạt được Khó Khăn gặp phải (nếu có) 15/08/2022 Nhóm trưởng cung cấp data khách hàng và telesales
Bị khách hàng từ chối
16/08/2022 Các anh chị chỉ cách tư vấn bảng minh họa cho khách hàng
17/08/2022 Đi khảo sát thực tế về bảng phân tích nhu cầu tài chính của khách hàng
Khách không đồng ý khảo sát và không có nhu cầu
18/08/2022 Tiếp tục đi khảo sát về bảng phân tích nhu cầu của khách hàng
Cần phải chụp hình với khách hàng để xác nhận và gửi quản lý
Ngày Công việc được giao Kết quả đạt được Khó Khăn gặp phải (nếu có) 22/08/2022 Buổi sáng học lớp khơi gợi và phân tích nhu cầu bảo hiểm Buổi chiều làm telesales
24/08/2022 Học lớp kĩ năng thiết kế và trình bày giải pháp
25/08/2022 Tư vấn bảng minh họa cho nhóm trưởng nghe
Vẫn còn vấp, chưa trôi chay trong quá trình tư vấn
26/08/2022 Có một buổi gặp mặt nhỏ với sếp và các thành viên từ team khác để làm quen, kết bạn và lắng nghe những khó khắn trong công việc Và sếp sẽ chia sẻ kinh nghiệm của bản thân và đưa ra các hướng giải quyết cho chúng tôi
Ngày Công việc được giao Kết quả đạt được Khó Khăn gặp phải (nếu 29/08/2022 Có một cuộc họp của team để tổng hợp có) doanh thu của tháng 8 và chạy doanh số tháng 9
