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The Emperor of Peninsular
Antony: Dear Ajay Boss, RBC is one of the most successful channels we have come across and we believe that you are one of the most prominent personalities behind this success. Could you please, share with us some of your experiences in RBC channel, during and after its inception, and the strategies you adopted in the channel to gain this great achievement?
Ajay Kapoor: I took this challenge to learn the nuances of the insurance business. I always felt that i entered the sector a trifle late and wanted to cover it up. Just before my stint in Rural i was given the task to set up Rajasthan and i just learnt to keep it simple and straight, Build, Operate and Transform. The first 6 months went in building, then moved into operation mode and the 2nd year was transition from start up to efficient channel which broke all kinds of records.
Antony: As an individual, we admire your devotion and passion towards your work. We would like to know you more about you beginning from your childhood, schooling, career, family etc. You truly are unique and inspiring!
Ajay Kapoor: My schooling has been all throughout the country as my father was also in a sales job so i have studied in Patna, Ranchi, Agra, Kanpur. I graduated from Calcutta and then did my PGDBM from Ludhiana. As a professional i value my stint with Nerolac Paints the most where i spent good 1 years of my life and learnt what sales is. The leaders over there were truly inspiring and taught how to work with respect. Insurance though taught me the other extreme how to be analytic and the different ways to look at data. >
Antony: Sir, Insurance was a sunrise industry till a couple of years back, but now people hesitate to come to this Industry and work with confidence. Many brilliant people have left this Industry with a broken heart and many were asked to leave for being unable to perform well during a short period of time. How would you comment about this?
Ajay Kapoor: To me the powers were abused. While the industry was a sunrise industry and it still is, i think rash decisions in the beginning has actually made the industry suffer. There were no control on expenses while the product being sold was not giving immediate profits. Also the proposed selling was incorrect which actually broke customers confidence. I worked in Insuarnce for 6 years and never bought a policy for myself because i knew i tis not going to give me good returns. While in FMCG i learnt about how to build with patience, here i think the new MBA culture was ruling, people ate, slept, drank and thought only about market shares. Means to achieve them were never thought about and when finally pressure came it wilted.
Antony: Investors have lost faith in this Industry as they have come across with bitter experience. Many companies have made huge cost cutting, branch closing, employee cutting etc? How can we retain the good faith of Investors? Do you have any suggestions that could make a better environment for Insurance Industry??
Ajay Kapoor: Still long term selling with clear communciation will help. ULIP's are more luctative now but we dont sell because distribution gets less. The way to tackle is sell more because it's more customer friendly now with lesser charges.
Antony: Insurance Industry is very unique in terms of its Training, Infra structure, working atmosphere. It is the only Industry still gives huge pay with quality training. Some companies still follow morning huddles, regular training and good career growth. This Industry has contributed greatly towards the skill development of people. After acquiring knowledge and skills people wanted to quit this Industry and work in a comfort zone. Is this a good attitude? What is your advise to the people who are currently working in the Industry and people who are aspiring to come?
Ajay Kapoor: I agree because this is the only indsutry where knowledge plays a very important role. One doesnt have a physical product to sell so knowledge is a must and while people get attracted to it because of money selling it needs a lot of patience which i find missing in the new generation. I am in a different industry now and come across a lot of situations where one has to bargain for the rentals etc, correct judgement of the situation, accessing the need of the individual and patience helps me still getting good deals and at times half of what the other person was asking. So patience is a virtue and all sales persons need to develop a lot of patience to succeed in life. I have often seen people trying to close the sales very fast which is wrong and this is where they mess up. Opening of sale and closing of sale is very important and thats what the young ones should learn.
Antony:Sir,could you please narrate some of your best experience from this Industry??
Ajay Kapoor: I got some very good team members to work along with and still cherish all the memories of what all we achieved together. When i think about 0 to 300 crores of premium in two years it means something and gives a feeling for achiveing something big.
Antony : And a few unpleasant experiences that you managed to overcome using your own expertise and skill.
Ajay Kapoor: Nothing as such except for the sales tensions which were huge when the channel just started and we were being constantly rogered by Himalayan. But i knew we are doing the right things and its only a matter of time that we will give it back. We just built right team for the right occassion.
Antony: Sir, What is your Success mantra in Life?
Ajay Kapoor: Self discipline and the habit to get into the things to find solutions. Always empathize with your juniors, learn what difficulties they face and then teach them what to do and how to do. Also delefation of power has helped me a lot. I believe in my people but also am awake to the happenings around.
Antony: What advise would you give to the members of Rural Mama?
Ajay Kapoor: Keep up the good work, the world is too small and who knows we might be together again.
Antony: Your Biggest Aim in Life?
Ajay Kapoor: Professionally quite satisfied now as i have excelled in whatever i have done. Want to head some company some day in the near future, personally want to see my daughters settling down as she is good in studies unlike her father and have a peaceful life being as helpful as possible to others.
Thankyou so much Ajay Boss for sharing your most valuable time with us and also giving us some valuable insight about you and Industry. This was so encouraging for us. As you very rightly said, if God allows we might be together again. We all love you a lot.
Wishing you and family happiness and prosperity now and always.
Yours Only Rural Mama FOLKS
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