30711167 Summer Training Report on Recruitment of Advisors for Bharti Axa Life Insurance

8/4/2019 30711167 Summer Training Report on Recruitment of Advisors for Bharti Axa Life Insurance

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SUMMER TRAINING REPORT

ON

Recruitment and selectionof

life insurance AgentIn the partial fulfillment of the Degree of Master of Business Administration Session

(2010-2012)

Submitted to Submitted by

Mrs.aditi arora kaleem ahemad

MBA 3rd Semester

PREFACE


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Practical training is an important part of management courses. Theoretical studies are not

sufficient to get into corporate world and understand the complexities of large-scale

organizations.

Practical training exposes us to real practices of management in the organization. It also exposes

students to the treasures of experience, knowledge and leaning which prerequisites of making a

successful career are.

I deem it privilege to have undergone this project. I acknowledge that the practical training that I

got from this cannot be gained otherwise. I found my project very interesting and challenging.

(kaleem ahemad)


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STUDENT DECLARATION

I hereby declare that study of process of recruitment and selection of life insurance agent has been exclusively

done by me for the degree of MASTERS OF BUSINESS ADMINISTRATION and not for any other degree,

Diploma or fellowship. This is my own study done under the guidance of guide and Managers of the company.

I hereby declare that the contents of this report are true and best to my knowledge.

(kaleem ahemad)


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DECLARATION

This is to certify that the project report entitled the process of recruitment and selection of Life

insurance agent submitted for the degree of MBA for Quantum global campus , Affiliated to

uttrakhand technical university from (15th june, 2011 to 31stjully, 2011) is a bonafied

research work carried by kaleem ahemad, student of Quantum global campus .

This assistance and help received during the course of investigation have been fully

acknowledged.

Project Co-coordinator

Brief summary

Introduction:


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A general term insurance is related to service sector. Insurance is concerned with the protection

of economic value of assets. For example in case of a factory or a cow, the product generated by

it is sold and income is generated. In this project the Bharti AXA Life Insurance Company is

undertaken which is one of the popular sector insurance sectors. The analysis of Bharti AXA

Life Insurance is taken form different sectors.

For creating strong relationship and for a success full business every insurance company required

financial planner.

Objective of the study:

How to recruit agents for Bharti-AXA life insurance. To understand the process of recruitment and selection of agent in life insurance. Why people are not willing to work as an agent in life insurance sector specially with

private companies.

Need of the study:

The study is undertaken to know how many people are interested to work as life insurance agent

in Bharti AXA and their thinking about the Bharti AXA Life Insurance Company or about

private insurance company.

Conclusion:

In India, there is throat cut competition in the market of life insurance that brand service which

adopt new strategies for sales. I concluding the whole story it can be said that people are much

more aware about the aspects of life insurance and also have knowledge about the role and act of

agent but mostly people unwilling to work as life insurance agent and mostly people prefer to

work with LIC because it is a semi government corporation.

Table of Contents

CHAPTER

NO.PARTICULARS PAGE NO.


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CHAPTER 1

INDUSTRY PROFILE 8-18

CHAPTER 2 COMPANY PROFILE 19-35

CHAPTER 3 INTRODUCTION OF RECRUITMENT ANDSELECTION PROCESS OF AGENT

36-51

CHAPTER 4 RESEARCH METHODOLOGY

OBJECTIVES OF THE STUDY

52-54

CHAPTER 5 DATA PRESENTATION ANDINTERPRETATION 55-60

CHAPTER 6 LIMITATIONS AND FINDINGS 61CHAPTER 7 CONCLUSION AND SUGGESTIONS 62CHAPTER 8 BIBLIOGRAPHY 63


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Industry Profile

WHAT IS INSURANCE

The business of insurance is related to the protection of the ECONOMIC VALUES OF

ASSETS. Every asset has a value. The asset would have been created through the efforts of the

owner. The asset would have been created through the efforts of the owner. The asset is valuable


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to the owner, because he expects to get some benefits form it. It is a benefit because it meets

some of his needs. The benefit may be an income or in some other form. In the case of a factory

or a cow, the product generated by it is sold and income is generated. In the case of a motor car,

it provides comfort and convenience in transportation. There is no direct income. Both are assets

and provide benefits.

Every asset is expected to last for a certain period of time during which it will provide the

benefits. After that, the benefit may not be available.

There is a life-time for a machine in factory or a cow or a motor car. None of them will last for

ever. The owner is aware of this and he can so manage his affairs that by the end of that period or

life-time, a substitute is made available. Thus he makes sure that the benefit is not lost. However,

the asset may get lost earlier. An accident or some other unfortunate event may destroy it or

make it incapable of giving the benefits. An epidemic may kill the cow suddenly. In that case,

the owner and those enjoying the benefits therefore, would be deprived of the benefits. The

planned substitute would not have been ready. There is an adverse or unpleasant situation.

Insurance is a mechanism that helps to reduce the effects of such adverse situations. It promises

to pay to the owner or beneficiary of the asset, a certain sum if the loss occurs.

HISTORY OF INSURANCE

Insurance has been known to exist in some form or other since 3000 BC. The Chinesetraders, traveling treacherous river rapids would distribute their goods among severalvessels, so that the loss form any one vessel being lost, would be partial and shared, andnot total. The Babylonian traders would agree to pay additional sums to lenders, as theprice for writing off the loans, in case of the shipment being stolen. The inhabitants ofRhodes adopted the principle of general average of general average, whereby, if goodsare shipped together, the owners would bear the losses in proportion, if loss occurs, due


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to jettisoning during distress. {Captains of ships caught in storms, would throw awaysome of the cargo to reduce the weight and restore balance. Such throwing away is calledjettisoning} The Greeks had started benevolent societies in the late 7 th century AD, totake care of the funeral and families of members ho died. The great fire of London in1666,in which more than 13000 house were lost, gave a boost to insurance and the first

fire insurance company, called the fire office, was started in 1680.

The origins of insurance business as in vogue at present, is traced to the Lloyds CoffeeHouse in London. Traders, who used to gather in the Lloyds coffee house in London,agreed to share the losses to their goods while being carried by ships. The losses used tooccur because of pirates who robbed on the high seas of because of bad weather spoilingthe goods or sinking the ship. In India, insurance began in 1818 with life insurance beingtransacted by an English company, the Oriental Life Insurance Co. in 1870 in Mumbai.This was followed by the Bharat Insurance co. in 1896 in Delhi, the Empire of India in1897 in Mumbai, The United India in Chennai, the National, the National Indian and

Hindustan Cooperative in Kolkata.

Later, were established the cooperative Assurance in Lahore, the Bombay Life (originallycalled the swadeshi life), the India Mercantile, the new India and the Jupiter in Mumbaiand the Lakshmi in New Delhi. These were all Indian companies started as a result of theswadeshi movement in the early 1900s. By the year 1956, when life insurance businesswas nationalized and the life Insurance Corporation of India (LIC) was formed on1stSeptember 1956, there were 170 companies and 75 provident fund societies transactinglife business in India. After the amendments to the relevant laws in 1999, the L.I.C. didnot have the exclusive privilege of doing life insurance business in India. By 31.8.2007,sixteen new life insurers had been registered and were transacting life insurance businessin India.

The History of Insurance in India

Some of the important milestones in the life insurance business in India are:

1912 - The Indian Life Assurance Companies Act enacted as the first statute to regulatethe life insurance business.

1928 - The Indian Insurance Companies Act enacted to enable the government to collectstatistical information about both life and non-life insurance businesses.


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1938 - Earlier legislation consolidated and amended to by the Insurance Act with theobjective of protecting the interests of the insuring public.

1956 - 245 Indian and foreign insurers and provident societies taken over by the centralgovernment and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956,with a capital contribution of Rs. 5 crore from the Government of India.

The General insurance business in India, on the other hand, can trace its roots to theTriton Insurance Company Ltd., the first general insurance company established in theyear 1850 in Calcutta by the British.

Life Insurance a Basic Need

Life insurance is a contract providing for payment of a sum of money to the person assured or,failing him, to the person entitled to receive the same, on the happening of certain event.

A family is generally dependent for its food, clothing and shelter on the income brought in atregular intervals by the bread winner of the family. So long as the he lives and the income isreceived steadily, that family is secure; but should death suddenly intervene the family may beleft in a very difficult situation and sometimes, in stark poverty.

Uncertainty of death is inherent in human life. It is this uncertainty that is risk, which gives riseto the necessity for some form of protection against the financial loss arising from death;insurance substitutes this uncertainty by certainty.

Few Advantages of Life Insurance.

1. It is superior to an ordinary savings plans:

This is so because unlike other saving plans, it affords full protection against risk of death. Incase of death, the full sum assured is made available under a life assurance policy; whereas underother savings schemes the total accumulated savings alone will be available. The latter will beconsiderably less than the sum assured, if death occurs during early years.


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2. Insurance encourages and forces thrift:

A savings deposit can be too easily withdrawn. Many may not be able to resist the temptation ofusing the balance for some less worthy purpose. On the other hand, the payment of life insurance

premiums becomes a habit and comes to be viewed wit the same seriousness as the payment ofinterest on a mortgage. Thus insurance, in effect brings about compulsory saving.

3. Easy settlement and protection against creditors:

The life assured can name a person or persons to whom the policy moneys would be payable inthe event of his death. The proceeds of a life insurance policy can be protected against.Theclaims of the creditors of the life assured by effecting a valid assignment of the policy. A marriedwomens property act policy constitutes a trust in favor of the wife and children and no separateassignment is necessary. The beneficiaries are fully protected from creditors except to the extentof any interest in the policy retained by the assured.

.4. Administering the legacy for beneficiaries:

It often happens that a provision which a husband or father has made through insurance isquickly lost through speculative or unwise investment or by unnecessary expenditure onluxuries. These contingencies can be provided against in the case of insurance. The policyholdercan arrange that in the in the event of his death the beneficiary should receive, instead of a singlesum (a). payment of the net claim amount by equal installments over a specified period of years,or (b).payment of the claim amount by smaller monthly installments over the selected periodfollowed by a lump sum at the end thereof.

5. Ready marketability and suitability for quick borrowings:

After an initial period, if the policy holder finds himself unable to continue payment of premiumshe can surrender the policy for a cash sum. Alternatively he can tide over a temporary difficultyby taking loan on the sole security of the policy without delay. Further a life insurance policy issometimes acceptable as security for a commercial loan.

6.Tax relief:

For computing income tax (especially in India the Indian income tax act) follows deduction fromincome tax payable, a certain percentage of a portion of the taxable income of individuals whichis diverted to payment of insurance premiums. When this tax relief is taken into account it willbe found that the assured is n effect paying a lower premium for his insurance.


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How Insurance Works

The mechanism of insurance is very simple. People who are exposed to the same risks come

together and agree that, if any one of the members suffers a loss, the others will share the loss

and make good to the person who lost. All people who send goods by ship are exposed to the

same risk related to water damage, ship sinking, piracy, etc. those owning factories are not

exposed to these risks, but they are exposed to different kinds of risks like, fire, hailstorms,

earthquakes, lightening, burglary, etc. like this, different kinds of risks can be identified and

separate groups, made including those exposed to such risks. By this method, the risk is spread

among the community and the likely big impact on one is reduced to smaller manageable

impacts on all.

Ifa Jumbo Jet with more than 350 passengers crashes, the loss would run into several crores of

rupees. No airline would be able to bear such a loss. It is unlikely that many Jumbo Jets will

crash at the same time. If 100 airline companies flying Jumbo Jets, come together into an

insurance pool, whenever one of the jumbo jets in the pool crashes, the loss to be borne by each

airline would come down to a few lakhs of rupees. Thus, insurance is a business sharing.


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Role of Insurance in Economic Development

For economic development, investments are necessary. Investments are made out ofsavings. A life insurance company is a major instrument for the mobilization of savings

of people, particularly from the middle and lower income groups. These savings are

channeled into investments for economic growth.

An insurance companys strength lies in the fact that huge amounts come by way ofpremiums. Every premium represents a risk that is covered by that premium. In effect,therefore, these vast amounts represent pooling of risks. The funds are collected and held

in trust for the benefit of the policyholders.

The management of insurance companies is required to keep this aspect in mind andmake all its decisions in ways that benefit the community. This applies also to its

investments. This is why successful insurance companies would not be found investing in

speculative ventures. Their investments benefit the society at large.

The system of insurance provides numerous direct and indirect benefits to the individualand his family as well as to industry and commerce and to the community and the nation

as a whole. Those who insure, both individuals and corporate, are directly benefited

because they are protected from the consequences of the loss that may be caused by the


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accident or fortuitous event. Insurance, thus, in a sense protects the capital in industry and

releases the capital for further expansion and development of business and industry.

The every existence of risk that is, uncertainty concerning the future, is a severehandicaps in economic activities. Insurance removes the fear, worry and anxiety

associated with this future uncertainty and thus encourages free investment of capital in

business enterprises and promotes efficient use of existing resources.

Thus insurance encourages commercial and industrial development and there bycontributes to a vigorous economy and increased national productivity.

Present day organization of industry, commerce and trade depend entirely on insurancefor their operation, banks and financial institutions lend money to industrial and

commercial undertakings only on the basis of the collateral security of insurance. No

bank or financial institution would advance loans on property unless it is insured against

loss or damage by insurable perils.

Insurers are closely associated with several agencies and institutions engaged in fire lossprevention, cargo loss prevention, cargo loss prevention, industrial safety and road safety.

Before acceptance of a risk, insurers arrange survey and inspection of the property to be

insured, by qualified engineers and other experts.

The object of these surveys is not only to assess the risk for rating purposes but also tosuggest and recommend to the insured, various improvements in the risk, which will

attract lower rates of premium and what is more important , reduce the loss potential. For

example, burglary surveyors make recommendation in regard to security measures such

as better locking system, appointment of Watchman, etc. Engineering surveys play a

most useful part in accident prevention as valuable technical advice is provided in respect

of plant and machinery.


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Insurance ranks with export trade, shipping and banking services as earner of foreignexchange to the country. It helps to earn foreign exchange and represent invisible exports.

List of Insurance Companies Listed in Different Years

List of Life Insurance CompaniesS.No. Registration

Number Date of Reg. Name of the Company1 101 23.10.2000 HDFC Standard Life Insurance Company Ltd.2 104 15.11.2000 Max New York Life Insurance Co. Ltd.3 105 24.11.2000 ICICI Prudential Life Insurance Company Ltd.4 107 10.01.2001 Kotak Mahindra Old Mutual Life Insurance Limited5 109 31.01.2001 Birla Sun Life Insurance Company Ltd.6 110 12.02.2001 Tata AIG Life Insurance Company Ltd.7 111 30.03.2001 SBI Life Insurance Company Limited.8 114 02.08.2001 ING Vysya Life Insurance Company Private Limited9 116 03.08.2001

Bajaj Allianz Life Insurance Company Limited10 117 06.08.2001 Metlife India Insurance Company Ltd.11 133 04.09.2007 Future Generali India Life Insurance Company Limited12 135 19.12.2007 IDBI Fortis Life Insurance Company Ltd.

13 102 23.10.2000 Royal Sundaram Alliance Insurance Company Limited14 103 23.10.2000 Reliance General Insurance Company Limited.15 106 04.12.2000 IFFCO Tokio General Insurance Co. Ltd 16 108 22.01.2001 TATA AIG General Insurance Company Ltd. 17 113 02.05.2001 Bajaj Allianz General Insurance Company Limited
http://www.hdfcinsurance.com/http://www.hdfcinsurance.com/http://www.maxnewyorklife.com/http://www.maxnewyorklife.com/http://www.iciciprulife.com/http://www.iciciprulife.com/http://www.omkotakmahindra.com/http://www.omkotakmahindra.com/http://www.birlasunlife.com/http://www.birlasunlife.com/http://www.tata-aig-life.com/http://www.tata-aig-life.com/http://www.sbilife.co.in/http://www.sbilife.co.in/http://www.ingvysyalife.com/http://www.ingvysyalife.com/http://www.allianzbajaj.co.in/http://www.allianzbajaj.co.in/http://www.metlife.co.in/http://www.metlife.co.in/http://www.fg-life.in/http://www.idbifortis.com/http://www.irdaindia.org/www.royalsundaram.comhttp://www.irdaindia.org/www.royalsundaram.comhttp://www.reliancegeneral.co.in/http://www.reliancegeneral.co.in/http://www.itgi.co.in/http://www.itgi.co.in/http://www.irdaindia.org/www.tata-aiggeneral.comhttp://www.irdaindia.org/www.tata-aiggeneral.comhttp://www.bajajallianz.co.in/http://www.bajajallianz.co.in/http://www.irdaindia.org/www.tata-aiggeneral.comhttp://www.itgi.co.in/http://www.reliancegeneral.co.in/http://www.irdaindia.org/www.royalsundaram.comhttp://www.idbifortis.com/http://www.fg-life.in/http://www.metlife.co.in/http://www.allianzbajaj.co.in/http://www.ingvysyalife.com/http://www.sbilife.co.in/http://www.tata-aig-life.com/http://www.birlasunlife.com/http://www.omkotakmahindra.com/http://www.iciciprulife.com/http://www.maxnewyorklife.com/http://www.hdfcinsurance.com/


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18 115 03.08.2001 ICICI Lombard General Insurance Company Limited.19 131 03.08.2007 Apollo DKV Insurance Company Limited20 132 04.09.2007 Future Generali India Insurance Company Limited21 134 16.11.2007 Universal Sompo General Insurance Company Ltd.22 121 03.01.2002 Reliance Life Insurance company Ltd.23 122 14.05.2002 Aviva Life Insurance Co. India Pvt. Ltd.24 127 06.02.2004 Sahara India Insurance Company Ltd.25 128 17.11.2005 Shriram Life Insurance Company Ltd.26 130 14.07.2006 Bharti AXA Life Insurance Company Ltd.27 133 04.09.2007 Future general Indai life Insurance Co.Ltd 28 135 19.12.2007 IDBI Fortis Life Insurance Company Ltd.29 136 08.05.2008 Canara HSBC Oriental Bank of Commerce Life

Insurance Company Ltd.30 138 27.06.2008 Aegon Religare Life Insurance Company Ltd. 31 140 27.06.2008 DLF Pramerica Life Insurance Company Ltd.

List of General Insurance Companies

1 123 15.07.2002 Cholamandalam General Insurance Company Ltd.2. 124 27.08.2002 Export Credit Guarantee Corporation Ltd.3. 125 27.08.2002 HDFC-Chubb General Insurance Co. Ltd.1 139 27.06.2008 Bharti Axa General Insurance Company Ltd.2 141 15.12.2008 Raheja QBE General Insurance Co. Ltd
http://www.bajajallianz.co.in/http://www.bajajallianz.co.in/http://www.bajajallianz.co.in/http://www.bajajallianz.co.in/http://www.bajajallianz.co.in/http://www.bajajallianz.co.in/http://www.icicilombard.com/http://www.icicilombard.com/http://www.apollodkv.co.in/http://www.irdaindia.org/www.fg-general.inhttp://www.universalsompo.com/http://www.avivaindia.com/http://www.avivaindia.com/http://www.saharalife.com/http://www.saharalife.com/http://www.shriramlife.com/http://www.shriramlife.com/http://www.bharti-axalife.com/http://www.bharti-axalife.com/http://www.idbifortis.com/http://www.idbifortis.com/http://www.aegonreligare.com/http://www.aegonreligare.com/http://www.dlfpramericalife.com/http://www.dlfpramericalife.com/http://www.cholainsurance.com/http://www.cholainsurance.com/http://www.irdaindia.org/http;/www.ecgcindia.comhttp://www.irdaindia.org/http;/www.ecgcindia.comhttp://www.hdfcchubbindia.com/http://www.hdfcchubbindia.com/http://www.irdaindia.org/www.bharti-axagi.co.inhttp://www.irdaindia.org/www.bharti-axagi.co.inhttp://www.irdaindia.org/www.bharti-axagi.co.inhttp://www.hdfcchubbindia.com/http://www.irdaindia.org/http;/www.ecgcindia.comhttp://www.cholainsurance.com/http://www.dlfpramericalife.com/http://www.aegonreligare.com/http://www.idbifortis.com/http://www.bharti-axalife.com/http://www.shriramlife.com/http://www.saharalife.com/http://www.avivaindia.com/http://www.universalsompo.com/http://www.irdaindia.org/www.fg-general.inhttp://www.apollodkv.co.in/http://www.icicilombard.com/


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Company

profile

History of Bharti AXA Life Insurance

Bharti AXA Life Insuranceis a joint venture between Bharti, one of Indias leading business

groups with interests in telecom, agri business and retail, and AXA, world leader in financial

protection and wealth management. The joint venture company has a 74% stake from Bharti and

26%stake of AXA.


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The company launched national operations in December 2006. Today, company have over 8000

employees across over 12 states in the country and a national footprint of distributors trained to

provide quality financial advice and insurance solutions to the large Indian customer base. Open

first branch office in Hyderabad. Introduces 2 unit linked products- future confident and

wealth confident

As we further expand our presence across the country with a large network of distributors, we

continue to provide innovative product and service offerings to cater to specific insurance and

wealth management needs of customers. Whatever your plans in life, you can be confident that

Bharti AXA Life will offer the right financial solutions to help you achieve them.

Bharti-AXA perform over following cities

Hyderabad Mumbai Delhi Bangalore Kolkata Chennai Ahmedabad Ludhiana Lucknow


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Surat Kochi Indoor Chandigarh Vadodra

Bhubneshwar Jaipur Mohali

Vision

To be a leader and the preferred company for

financial protection and wealth management in

India


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Strategy To achieve a top 5 market position in India through a multi-distribution, multi-product

platform

To adapt AXA's best practice blueprints as a sound platform for profitable growth To leverage Bharti's local knowledge, infrastructure and customer base To deliver high levels of shareholder return To build long term value with our business partners by enhancing the proposition to their

customers

To be the employer of choice to attract and retain the best talent in India To be recognised as being close and qualified by our customers


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Bharti

Group

Bharti Airtel LtdBharti Airtel Ltd is one of Asia's leading telecommunications service provider. The Company isIndias largest integrated telecom company in terms of customer base and offers Mobile

Services, Fixed Line services, Broadband & IPTV, DTH, Long Distance and Enterprise services.Airtel also offers mobile services in Sri Lanka on a state-of-the art 3.5 G network.

Bharti TeleTech LtdBharti Teletech is Indias leading telecom & allied products company. It is one of the largestmanufacturers of landline telephones in the world. With a strong distribution network across thecountry, the company is also the primary distributor of IT and Telecom products frominterntional brands such as Motorola, Blackberry, Thomson, Polycom, Transcend, and Logitech.

Telecom Seychelles LtdA subsidiary of Bharti, Telecom Seychelles Ltd provides comprehensive telecom servicesincluding 3G mobile services in Seychelles, under the Airtel brand.
http://www.airtel.in/http://www.airtel.in/http://www.bharti-teletech.net/http://www.bharti-teletech.net/http://www.airtel.sc/http://www.airtel.sc/http://www.airtel.sc/http://www.bharti-teletech.net/http://www.airtel.in/


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Comviva Technologies LtdComviva is the leading provider of integrated VAS solutions for mobile operators in emergingmarkets. Among the top 3 global providers of integrated VAS solutions in rapidly growingmarkets, Comviva has deployed solutions for over 100 mobile operator customers in over 80countries worldwide.

FieldFresh Foods Pvt. Ltd.FieldFresh Foods Pvt. Ltd., is a venture between Bharti Enterprises and Del Monte PacificLimited, to offer fresh and processed fruits and vegetables in the domestic as well asinternational markets, including Europe and the Middle East.

Bharti Retail Pvt LtdBharti Retail is a wholly owned subsidiary of Bharti Enterprises. Bharti Retail operates a chainof multiple format stores that offer consumers affordable prices, great quality and wider choice.The companys neighbourhood format stores operate under the "Easyday" brand and the compact

hypermarket format under the Easyday market brand.

Bharti AXA General Insurance CompanyBharti AXA General Insurance is a joint venture between Bharti Enterprises and AXA, worldleader in financial protection and wealth management. The company was incorporated in July2007 and offers a full suite of general insurance solutions to meet the needs of businesses and

individuals alike.
http://www.bhartitelesoft.com/http://www.bhartitelesoft.com/http://www.fieldfreshfoods.in/http://www.fieldfreshfoods.in/http://bharti.com/ourcompanies.htmlhttp://bharti.com/ourcompanies.htmlhttp://www.bharti-axagi.co.in/http://www.bharti-axagi.co.in/http://www.bharti-axagi.co.in/http://bharti.com/ourcompanies.htmlhttp://www.fieldfreshfoods.in/http://www.bhartitelesoft.com/


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Bharti AXA Life Insurance CompanyBharti AXA Life Insurance Company Ltd is a joint venture between Bharti Enterprises andAXA, world leader in financial protection and wealth management. The company offers a rangeof life insurance and wealth management products with an endeavour to help customers lead aconfident life.

Bharti AXA Investment Managers Pvt. Ltd.Bharti AXA Investment Managers Pvt. Ltd., an asset management company in India, is a jointventure between Bharti Enterprises, AXA Investment Managers (AXA IM) and AXA Asia

Pacific Holdings (AXA APH).

Centum Learning LimitedCentum Learning Limited provides end-to-end learning and skill-building solutions to severallarge corporates. It provides solutions that impact business performance through enhanced

employee productivity, customer profitability and effective talent transformation.

Jersey Airtel LtdJersey Airtel, a subsidiary of Bharti, offers world-class mobile services in Jersey (ChannelIslands) over its full 2G, 3G and HSDPA enhanced network. The Company brings market-leading products and services to its customers under Airtel-Vodafone brand.
http://www.bharti.com/http://www.bharti.com/http://www.bhartiaxa-im.com/http://www.bhartiaxa-im.com/http://www.bhartiresources.com/http://www.bhartiresources.com/http://www.bharti.com/http://www.bharti.com/http://www.bharti.com/http://www.bhartiresources.com/http://www.bhartiaxa-im.com/http://www.bharti.com/


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Bharti FoundationBharti Foundation was set up in 2000, with the vision, To help underprivileged children andyoung people of our country realize their potential. It aims to create and support programs that

bring about sustainable changes through education and the use of technology and information.

Bharti RealtyBharti Realty Limited is a young, vibrant and dynamic realty company with expanding interestsin commercial, retail and residential real estate. Bharti Realty aims to be amongst the mostadmired real estate players in India and aspires to attain highest degree of customer trust through

superior product design and maintaining an uncompromising stand towards environmentalresponsibility, ethics and safety

Bharti InfratelBharti Infratel, a wholly owned subsidiary of Bharti Airtel, provides passive infrastructure

services on a non-discriminatory basis to all telecom operators in India. Bharti Infratel also holdsapproximately 42% stake in Indus Towers, a joint venture between Bharti, Vodafone and Idea tooffer passive infrastructure services.
http://www.bhartifoundation.org/http://www.bhartifoundation.org/http://www.bhartirealty.com/http://www.bhartirealty.com/https://www.bharti-infratel.com/https://www.bharti-infratel.com/https://www.bharti-infratel.com/http://www.bhartirealty.com/http://www.bhartifoundation.org/


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Bharti Enterprises

Bharti Airtel Ltd:Bharti Airtel Ltd is Indias leading provider of telecommunications service. The company has 4

distinct Business divisions- mobile and telephone services, broadband services, long distance

services and enterprise services,

Bharti Teletech LtdBharti Teletech Ltd manufactures and exports world-class telecom equipment under the brand

Beetel.

Telecom Seychelles LtdTelecom Seychelles ltd provides telecom services in Seychelles, under the brand Airtel.

Bharti AXA Life InsuranceBharti AXA Life Insurance is a joint venture between Bharti, one of Indias leading business

groups with interests in telecom, agri business and retail, and AXA, world leader in financial

protection and wealth management. The joint venture company has a 74% stake from Bharti and

26%stake of AXA.

Bharti Telesoft LtdBharti Telesoft Ltd delivers best-in-class,

Revenue-critical Vas products and service to telecom carriers,

Tele Tech Service LtdTele Tech Service (India) Ltd is Joint venture with Tele Tech Inc., U.S.A. It offers a range of

Customer Management Services.

Field Fresh Foods Pvt Ltd


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Field Fresh Foods Pvt Ltd is Bhartis Venture with EL Rothschild Group owned ELRO holding

India Ltd., to export fresh Agricltural products exclusively to markets in Europe and USA.

AXAAXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse

geographically, with major operations in Western Europe, North America and the Asia/Pacific

area. AXA had Euro 1,315 billion in assets under management as of December 31, 2006. For full

year 2006, IFRS revenues amounted to Euro 79 billion, IFRS underlying earnings amounted to

Euro 4,010 million and IFRS adjusted earnings to Euro 5,140 million.

The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock

Exchange. The AXA American Depository Share is also listed on the NYSE under the ticker

symbol AXA.

AXA Asia Pacific HoldingsAXA Asia Pacific Holdings Ltd (AXA APH) is listed on the Australian stock exchange and is

52.3% owned by AXA SA. AXA APH is responsible for AXA SAs life insurance and wealth

management businesses in the Asia-Pacific region. It has operations in Australia, New Zealand,

Hong Kong, Singapore, Indonesia, Philippines, Thailand, China, India and Malaysia. AXA APH

had A$106.4 billion in total funds under management and administration at 30 June 2007 and

reported a profit after tax before non-recurring items of A$374.0 million for the six months

ended 30 June 2007.


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Products of Bharti-AXA Life Insurance

Bright stars

This is a regular premium unit-linked insurance policy, which, which offers you the twinbenefits of protecting your loved ones and creating wealth for them over the desired period.

As a caring parent, you want only the best for your child. As your child grows, his aspirationswill grow too and so will your responsibilities. Whether its higher studies abroad, a grand

wedding or a comfortable home you can now ensure that your child is always one step

ahead

You can fulfill all the dreams you have for your child, and give him what he deserves. Abright future!

The plan also offers the flexibility to make modifications, depending on the changing needs ofyour child. As his dreams grow, the plan will grow too so financial hurdles will never come

in the way of his growing dreams! With Bharti AXA Life Bright Stars,

Parameter EligibilityMinimum age at entry 18 yearsMaximum age at entry 70 years minus policy benefit period chosen.

E.G: for policy benefit period of 17 years, the

maximum age at entry is 53 years.Maximum age at maturity 70 yearsMinimum premium Rs.15,000 p.a. for annual & semi-annual modes

Rs18,000 p.a for monthly modePremium modes Annual, semi-annual and monthlyPolicy benefit periods available 7 years,10 years,15 years, 17 years and 20 years Minimum top-up premium Rs. 2,500

Spot suraksha


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Introduction

Spot Suraksha is a unit liked insurance product, which offers you an instant insurance protectionand benefit of wealth creation in the long-term.

Main Advantages of Spot Suraksha

Understand the product:(Read and understand the product brochure) Answering the simple health related questions, Sign up the simple application form, submit

photograph, proofs for identity, address and age.

A cover note is issued to policy holder and insurance cover starts instantly. 100% allocation of premium- Full allocation of premium to the Investment Fund, according to

policy holder choice from 2nd year onwards.

A guaranteed special addition equal to 130% of annualized premium in the first policy year isadded in the policy fund at maturity or death, which is earlier.

PARAMETER ELIGIBILITYMinimum age at entry 5 yearsMaximum age at entry 55 yearsMaximum age at maturity 70 yearsMinimum premium Rs. 12,000 p.aPremium Modes Annual, Semi-annual and monthlyPolicy term 15 yearsMinimum top up premium Rs. 5,000

Dream life pension


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Let you live your retired life king-sizeThis plan is made for old persons and to make them self independent and live a life of dignityand self-respect. Today you are busy climbing the ladder of success and realizing your dreams.Today, time is with you. Just take a moment and think.

The bharti AXA Life Dream life pension gives you:

A post retirement income for life.

Policy holder choose the age at which he/she would like to retire (vesting age), which determines

your premium paying term. Alternatively you can opt for single premium payment.

PARAMETER ELIGIBILITYMinimum age at entry 18 yearsMaximum age at entry 70 yearsMinimum age at vesting

Maximum age at vesting45 years

80 yearsPremium modes Single pay, yearly, Half-yearly

,Quarterly and monthlyMinimum premium Annual Regular Premium:

Rs.12, 000p.a.Minimum policy term 10 yearsMinimum top-up premium Rs.2, 500 and no maximum limit on top-

up premium and top up allowed only

after first policy year.


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MERIT PLUS

This is a regular premium unit-linked insurance policy which offers you the twin benefits ofprotection against financial loss in the unfortunate event of the death and helping you to createwealth systematically over the long-term. Hence this product is suitable for your long-termobjective like retirement planning, childrens future and giving a total protection to you and yourfamily.

PARAMETER ELIGIBILITY

Minimum age at entry 0 yearMaximum age at entry 60 years (For death benefit option A)

55 years (For death benefit option b)Maturity age 80 years (for death benefit option A)

75 years (for death benefit option B)Policy benefit period 80 year less age at entry (for death

benefit option A)

75 years less age at entry (For death

benefit option B)Premium payable period Yearly, Half-Yearly And MonthlyMinimum premium Rs.10,000Minimum Top-up premium 500

Benefits of Bharti AXA Life merit plusIn merit plus the policy holder must have to choice one option out of the two.1.Sum assured(less all partial withdrawals made form the basic policy fund during the 12 monthsprior to the date of death of life assured) or the policy Fund Value as on the date of intimation of

death, which is higher, will be paid.

2.The sum of sum assured and the policy fund value as on the date of intimation of death will bepaid.

Future confident


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Future confident is a suitable product for you, if your objective is long-term targeted wealthcreation over 15-20 year, either for your own retirement or for your childrens future, while atthe same time providing your family enhance financial protection.

PARAMETER ELIGIBILITY

Minimum age at entry 0 yearMaximum age at entry 60 yearsMaturity age 70 yearsPolicy benefit period 70 year less age at entryPremium payable period Yearly, Half-Yearly, quarterly and

MonthlyMinimum premium Rs.10,000 for yearly, 5,000 for half-yearly

2,500 for quarterly and Rs.834 for

monthly premiumMinimum Top-up premium 500

Secure Confidence


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Provide complete financial protection to your family, even when you are not there.Secure confident is suitable to you if your objective is to protect your family against anyfinancial loss caused due to unfortunate death, disability due to an accident or critical illnesseswhich may deprive them of a secured future.

Parameter EligibilityMinimum age at entry 18 yearsMaximum age at entry 55 yearsMinimum sum assured Rs.5 ,00,000Minimum premium RS.1,500 for yearly,Rs.780 for half-yearly,

Rs.405 for quarterly and Rs.135 for

monthly premiumPolicy benefit period 5,10,15,20 and 25 yearsMaximum age at maturity. 60 yearsPremium paying term Equal to the policy benefit period.On death On survivalA sum assured is paid to the policy holder

or nominee and the policy shall be

terminated.

The policy shall be terminated and no

monies shall be payable to the policy

holder.


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Introduction of the process ofrecruitment and selection of agent

Objectives of the study


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To understand the process of recruitment and selection of agent in Bharti AXA life insurance. How to recruits agent for Bharti-AXA life insurance

To know about the view of general public about the job of agent

Why people are not willing to work with as an agent, especially with private player.

Meaning of Recruitment

Finding the right people is a make-or-break factor for success in business today. Recruiting thetop talent for a job takes time and you have to attract quality candidates who have the knowledge

and skills needed to help your company grow.

The fact is, your success with recruitment depends on how well you prepare your job ad, and usesource of recruitment, and your interviewing skills.

Prepare a job ad that works to start, you want to be sure that your potential candidate trulyunderstands the job. The clearer you are with the task description, working conditions andadvantages, the less time you will waste examining and rejecting applications

The essentials of any job description are:A brief description of your company

Detailed outline of the tasks involved Qualifications and experience required Equipment and resources used to do the work Skills required using them.However, you should also include work benefits (e.g., vacation, travel and perks), generalworking conditions (e.g., scheduling, outside work) and the specific traits required (e.g.,

teambuilding and communications skills). Ultimately, you want to be perceived as an attractiveemployer in a competitive market.

Find the right recruitment vehicle choose the vehicle that best works for your company,depending on your budget and resources.


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Word of mouth, or simply telling your employees, friends and colleagues about a job opening, isa less expensive strategy but generates fewer candidates. The advantage is that you already knowsomething about your recruiters and their skills, knowledge and achievements. This is a preferred

method with companies that have a finder's fee program for their employees.

Advertising is a toss of the dice. If it goes well, it can help you find ideal candidates in aregional, national, or international pool. If not, it's a costly investment yielding few results. Makesure to factor in the time it takes to go througha large number of resumes.

Employment agencies cost more but generally provide a good range of candidates. Theemployment advisors look at your needs, screen a number of candidates, and only send you the

applications that meet your requirements. Bear in mind that the largest employment agencies donot necessarily offer the best choice of candidates. There are numerous agencies that specializein recruitment in specific sectors.

Recruiting online such as monster.ca, workopolis.com, and jobboom.com. These can provideinexpensive, worldwide access to employees. In fact, 65% of job seekers now have access tothese types of services.Using the Internet for recruiting usually involves regular visits to specialized recruitment sites,joining newsgroups, and posting your job openings on recruitment sites, electronic publicationsand on your own Web site.

After recruitment the next part is selection of best candidates.

Make the interview deliver

Since the purpose of an interview is to identify and verify the candidate's potential, it should be

structured to bring out all the desired competencies and aptitudes. Remember that you have to

decide between the candidates: you could create a point system or analysis grid for comparing

their strengths and weaknesses.

Here are a few points to consider when structuring an interview:
http://www.monster.ca/http://www.monster.ca/http://www.workopolis.com/http://www.workopolis.com/http://www.jobboom.com/http://www.jobboom.com/http://www.jobboom.com/http://www.workopolis.com/http://www.monster.ca/


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Make a list in advance of the points for discussion and corresponding questions.

Present the candidates with a situation they could face on the job and ask them how they would

react. This will enable you to evaluate the candidates' knowledge, skills and work methods.

Ask the candidates to describe some difficult situations encountered in previous jobs and to

explain the way in which they were resolved. This will give you the chance to gauge the

candidates' self-confidence, creativity and problem-solving skills.

Ask the candidates to describe a difficult situation involving colleagues and how it was resolved.

This will enable you to test their aptitude for teamwork.

Ask the candidates about their ambitions and plans to ensure they fit your company profile.

Beware of asking questions about personal interests. They can get the interview off track or

annoy people who want to keep their work and private lives separate.

Definition of Agent

According to section 182 of Indian contracts Act, an agent is a person employed to do any act

for another or to represent another in dealing with a third person. In the insurance industry, the

term agent is ordinarily applied to a person engaged by the insurer to procure new business.

The insurance Act definers and insurance agent as one who is licensed under Section 42 of that

Act and is paid by way of commission or otherwise, in consideration of his soliciting of

procuring insurance business, including business relating to the continuance, renewal or revivalof policies of insurance. He is, for all purposes, an authorized salesman for insurance and needs a

license.


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An agent is one who acts on behalf of another. The another on whose behalf the agent acts,is called the principal in this case. The insurance company is the principal in this case. The

lawyer is the agent of the client, when he argues the case in court. An ambassador is an agent

of his country. The agent represents the principal and acts on his behalf. Some insurers

designate their agents as advisers, consultants etc. as if they are independent advisor or

consultant would not be appointed by an insurance company. He would be knowledgeable

enough as a person to be approached for advice or consultation. Some insurance agents may

acquire that status. All insurance agents should strive to attain that status.

Procedure for becoming an Agent

The insurance Act, 1938 lays down that an insurance agent must possess a licence under Section42 of that Act. The licence is to be issued by the IRDA. The IRDA has authorized designatedpersons, in each insurance company, to issue the licences on behalf of the IRDA.

In terms of the Insurance Act, a licences will not be given if the person is minor, found to be of unsound mind, found guilty of criminal misappropriation or criminal misappropriation or criminal

breach of trust or cheating or forgery or an abetment of or attempt to commit any suchoffence

found guilty of or knowingly participation in or conniving at any fraud, dishonesty ormisrepresentation against an insurer or an insured,

not possessing the requisite qualifications and specified training, Found violating the code of conduct as specified in the regulations.


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The fee for a licence is Rs.825 for individual. A licence is granted for 3 years. It maybe renewed after 3 years and again valid for 3 years.

A licence issued by the IRDA may be to act as an agent for a life insurer, for a general insurer oras a composite insurance agent working for a life insurer as sell as a general insurer. No agent is

allowed to work for more than one life insurer or more than one general insurer.

The Qualifications necessary before a licence can be given are that the person must be

Not a minor. Have passed at least the 12th standard or equivalent examination, if he is to be

appointed in a place with a population of 5,000 or more. (10th standard otherwise.)

Have undergone practical training for at least 50 hours in life or general insurancebusiness, as the case may be, form an institution, approved and notified by the IRDA.

IN the case of a person wanting to become a composite insurance agent, the applicantshould have completed at least 75 hours practical training in life and generalinsurance business, which may be spread over six to eight weeks.

d) Have passed the pre-recruitment examination conducted by the insurance institute ofIndia or any other examination body authorized by the IRDA.

The licence once issued, can be cancelled whenever the person acquires a disqualification.Applications for renewal have to make at least thirty days before the expiry of the licence, alongeither the renewal fee of Rs.250. If the application is not made at least thirty days before theexpiry, but is made before the date of expiry of licence, an additional fee of Rs.100 is payable . Ifthe application is made after the date of expiry, it would be normally being refused.

Prior to renewal of the licence, the agent should have completed at least 25 hours practicaltraining in life or general insurance business or at least 50 hours practical training in life andgeneral insurance business in the case of a composite insurance agent.

Insures who select agents for appointment, make arrangements for training, for appearing in theprescribed examinations, and obtaining the licence.

NOTE

The insurance Act provides, In Section 44, for payment of commission on renewal premiumeven after termination of the agency. The commission will be limited to a rate not exceeding 4%,to be eligible for this; the agent should have been an agent with that insurer for at least


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five years and policies for at least Rs50,000 are in force one year before terminationof agency or,

10 year.This commission will be payable to the heirs of the agent after the agents death.

FUNCTION OF AN AGENT

Understanding the prospects needs and persuade him to buy a plan of life insurance thatsuits his interests best.

Complete the formalities:- paper work, medical examination, which are necessary to getthe policy expeditiously.

Keep in touch to ensure that changing circumstances are reflected in the arrangementsrelating to premium payments, nomination and other necessary alterations.

Facilitate quick settlement of claims. Be totally honest with both the prospect and the insurer. Not to induce prospects to submit wrong information.

Career with Bharti AXA

Opportunity to earn unlimited income. Career Growth.


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Be your own boss. High quality training & Support to improve productivity.

Compensation amongst the best.

Club member benefits. Payout structured to facilitate your cash flows better. Best in class & competitive products. Pension for life.

Recruitment Process

Develop a Profile

Develop sources of recruitment

Approaching the

Targeted recruits

Initial screening and Interviews


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Reality check

Sources of Recruitment

Uncontrolled

Controlled

Job Ads/Inserts


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Natural Market

Placement Consultants

Central of Influence

Presentation / Seminar

Agent gets Agents

Cold Prospecting

Data Base

SecondaryPrimary

Controlled MarketNatural market

Your family


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Your friends People at job/business Neighbors

Extended Natural market

The following are sources of names:

People know through children. People know through spouse. People know through hobbies/ games. People known through social groups People known through public service. People you do business with. Friends of friends.CENTRE OF INFLUNCE

People with influence and prestige, other member of society believe and faith on them.

People who have a big circle of relationships: like secretary in societies, president of anassociation.

People who are known to you and are wiling to help you. People who have contacts with the class of people you want to deals with. People who have faith in your leadership. A centre of influence is a person who is in contact with many people through social, political,

religious or business angulations

Usually a respected individual with influence over the people with he/she is in contact.Uncontrolled Sources

Job Ads/Inserts

This program should be on regular long range basis.


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Example: Navajeevan sharma who is a relationship officer in bhrati AXA Life Insurancecompany put an ad in the newspaper, in which he called for the reader to phone him during a

specified 2 to 4 hours period on Monday or Sunday morning

From those who called Navjeevan Sharma was able to eliminate more misfits (who are notqualified) and arrange for two to six personal visits.

Placement consultants

MOA can recruit a placement consultant or register him self in internet job search sites to get list

of prospects.

Seminars/job fairs

Manager of agency can also organized seminars at

management institutes and colleges.OR

Bharti AXA life insurance company participate in the job fairs and then short list

prospects and then look for further opportunities for them.

Cold Prospecting

MOA can use the telephone directory. MOA and telecaller can use the directories of various business and social organizations.DatabasePrimary data: Direct collection of data of from the source of information, technology including

personal interviewing, survey etc.

Secondary Data: Indirect collection of data from sources canbe purchased from the openmarket and various kind of database are available such as telephone databases of various

surveys.

Point to be noted while recruiting the Agents

Mature and responsible family person. Ambitious, hungry for recognition, challenges. Occupation.


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Experience and current designation. For how many years he is living in the city. Greedy person. Occupation of parent. Family income. Any experience in life insurance sector. Leadership qualities. Social and amiable.

Sources for Recruitment and Selection of Agent

used during Training

Natural Market

Market Survey

Secondary Data (Telephone Directory)

Telephone Script

Hello sir,


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I am Paramjit Singh from Bharti AXA. I want your few minute to speak.

Sir, Bharti AXA is going to expend the Business by recruiting quality people and offering themthe potential of a very rewarding career opportunity.

We have acquired your business card and we are aware of the company you work for and you areone of the selective person with whom our company want to concern.So I would like to meet you for coffee to explain the exciting and rewarding opportunity. It mayhave for you in terms of career compensation and support..

(Excellent I look forward to meeting you please May I have your address and I will confirm ourmeeting in writing)

OR(According to your convenience will you please tell me when and where we can meet?)

Thank You Sir.

Step 1. Documents Required

Age proof. Address proof. Photo8. Education proof. Q score sheet. Agency application. Form V A. Fill NAAF.

Step 2. Interview section

During the interview the senior manager/MOA asked following question to the candidate tojudge his ability and knowledge.

Qualification. Present occupation. Knowledge or experience in insurance sector Tenor of stay in the town. Number of family member. Household income. Occupation of parent.

If selected then the senior manager/MOA approve the application.The managers take the help of scoring Mechanism. Scoring Mechanism was filled at the time ofapply.


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Age Below 25 years Between 25-40 More than 40 ScoreScoring

mechanism0 2 1

Marital status Unmarried married

1 2Education 10th standard or

12th standardgraduate Post graduate

1 2 2Tenor of stay in

city/townLess than 3

years3-5 years More than 5

years0 1 2

Household

incomeLess than 2

lakhs2-5 lakhs More than 5

lakhs

Total scoreQ Score:Acceptable Range of Score Greater than or equal to 7

Additional Approvals 5 or 6

Rejected application if 4 or less

If the Q score is less than 7 then BSM/ARSM comments and signatures are required.

Step 3. Training

50 Hours Training and also provide a text book (IC-33 life insurance) for pre-recruitmentExamination for Life Insurance Agents, which is based on syllabus prescribed by insurance

Regulatory & Development Authority.

IRDA for short, has laid down that those who wish to become insurance agents will be givenlicenses only after they complete a course of study, training and pass an examination prescribedby it.


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During this training the knowledge about the entire essential concept related to life insurance isprovided to agent. Insurers will have different practices and offer different benefits in their plans.All of them will be based on these concepts. The details of the practices and the plans of eachinsurer will have to be learnt from the respective insures.

Step 4. During training following things will be teaches.

What is insurance Principles of life Assurance Premiums and Bonuses Life Insurance products Underwriting Insurance Documents Policy conditions Claims Linked life insurance products Insurance agency Laws and Regulations IRDA Regulation 2000. IRDA Regulation 2002.

Step 5. Examination and Code

Examination is the second last part of the recruitment and selection process.It include one hour test under, which contain 50 objective questions, one marks each,Pass marks are 25.

There are two method of examination. Online Manual

In case of online the result is declared on the spot and in the case of manual result is declaredwithin one month.

After clearing the exam, ULIP training of two days will be given to the advisor about the productof company and then agency code is generated.


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OBJECTIVES

ANDRESEARCHMETHODOLGY

Objectives of the study


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To understand the process of recruitment and selection of agent in Bharti AXA lifeinsurance.

How to recruits agent for Bharti-AXA life insurance To know about the view of general public about the job of agent Why people are not willing to work with as an agent, especially with private player.

Research Methodology

Research Methodology is the investigation of specific problem in detail. At first problem isdefined carefully for conducting research. There should be a good research plan for conductingresearch. No research can be done without data collection. After all this analyze is made forgetting solution for problem.

Defining the problem Defining the sampling plan Collection of data Analyze and interpretation

Defining the problemDefining the research problem is first necessary step for any research. This work should be donecarefully. Here research problem is to know wiliness of general public to work as an agent withprivate player or Bharti-AXA life insurance.

Sampling plan

The sampling plan calls for three decisions.

A) Sampling Unit: I have completed my survey in CHANDIGARH, MOHALI.B) Sample Size: The selection of 20 respondents. The sample was drawn from shopkeepers. Theselection of the respondent was done on the basis of simple random sampling.C) Contract methodsI have conduct the respondent through personal interviews

Research InstrumentA close friend questionnaire was constructed for my survey. Questionnaire consisting of a set ofquestions made to filled by various respondents.

Collecting the InformationAfter this, I have collected the information from the respondent with the help of questionnaire.

Analyze the Information


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The next step is to extract the pertinent finding from the collected data. I have tabulated thecollected data & developed frequency distributions.Thus the whole data was grouped aspect wise and was presented in tabular from. Thus,frequencies & percentages were to reder impact of the study.

Presentations of FindingsThis was the last stop of the survey.

Data Presentation and Interpretation

Name: - Address:-

Location:-


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Mobile no.

Shop Type:- (Mobile stores, General store, Chemist etc. Please specifyScript

Bharti has expanded into new territories of business and they now offer the best

in class insurance products. This new venture is named Bharti-AXA.

Mr. Sunil Bharti mittal is introducing insurance to Punjab and Chandigarh retailers and

would like to give you an opportunity to earn and setup a new income which can give

you 15-20% margin on an average.

In this business you only have to contact your known people or regular customers and

their references to introduce Bhartis product and get an appointment.

Post this, manager form Bharti-AXA will go, explain the product & close he sale for you.You will in turn receive 15-20 % margin on sale. E.g. if a policy is sold by Bharti-AXA

manager for 10,000 you will receive 2,000.

We are here to understand your interest in this proposal specially designed by Mr. Sunil

Bharti Mittal for Punjab and Chandigar

Would you be interested in taking up this business opportunity with Bharti?Yes No

Only 20% shopkeepers were interested in taking up this business opportunity withBharti.(8 shopkeeper were interested in this activity)


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How much time can you dedicate per day for this activity?(For getting Appointments) hr 1-2 hrs 3-h hrs 5 hrs or more

From the above 8 people , 6 people said that they can spend hour for this activity daily. 2 said that they can spent to 2 hours for this activity.

3) Do you have any knowledge of or experience in Insurance?

Yes No

80% of shopkeeper said that they have knowledge about insurance. 20% of shopkeeper said that they have no knowledge about insurance.

Do you have Experience as an agent?Yes No

15% of shopkeepers have experience in the field of life insurance. 85% of shopkeepers have no experience in the field of life insurance.

If yes, then please specify the name of the company.

Out of 6 people 33%(3) of shopkeeper working with LIC 33% (2) of shopkeeper working with HDFC Standard Life insurance 33% (1) of shopkeeper working with ICICI Prudential Life Insurance Co. Ltd.

Can you spare 1/2 day on training to understand to product and how can introduce it to yourcustomer?

Yes NO


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10 % of shopkeepers were interesting to spare 1/2 day on training to understand to product.

Name: - Address:-Location:-Mobile no.Shop Type:- (Mobile stores, General store, Chemist etc. Please specify

QUESTIONNAIRE

Would you be interested in taking up this business opportunity with Bharti?

Yes

No

How much time can you dedicate per day for this activity? (For gettingAppointments)

hr

1-2 hrs

3-h hrs

5 hrs or more

Do you have any knowledge of or experience in Insurance?Knowledge

Yes


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No

Experience

Yes

No

If yes, then please specify the name of the company.

Can you spare day on training to understand the product and how can introduce it toyour customer?

Yes

No

How many people do you know in this city?

Under 50

51-100

101-300


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301-600

Above 600

Limitation

I didnt get complete feed from the shopkeepers about the question as they are busy in there

work and had less time to fill questioned.

Sincerity of answering the questions cannot be judged.

Time was the major constraint for me to understand the long process of recruitment and

selection.

Limited money available for project.

FindingWhy people are not ready to work with private players in life insurance?

Or

Why people are not ready to work as an agent in any company?


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In these days LIC created a very well image in the mind of General public because it is semiGovernment Company and also an oldest company. In short most people of Indian believeupon the LIC only.

During the training period we felt that most of people who are already working in insurancesector think that it is easy to sell the product of LIC than to sell the product of other lifeinsurance company.

Most of people say that this job affects upon there social relation with other and also effectupon there business.

Most of people believe that private insurance companies carried out fraud activity thats whythey never believe upon the private players.

People think that it is a time consuming activity and also required huge market skills.

Some people said that only greedy people like to work in insurance sector.

Because of three days compulsory training.

Conclusion

In India, there is throat cut competition in the market of life insurance that brand service whichadopt new strategies for sales. I concluding the whole story it can be said that people are muchmore aware about the aspects of life insurance and also have knowledge about the role and act ofagent but mostly people unwilling to work as life insurance agent and mostly people prefer towork with LIC because it is a semi government corporation.

Suggestions

Bharti-AXA life insurance company must give more advertisements on electronic media and

print media, as it help in enhance its goodwill and more people are willing to work with reputedcompanies, through proper advertisement it become easy to sell the product.

An insurance company must work with honesty to win the confident of its agent and generalpublic.

Duration of training must be reducing as in these day people have no extra time.


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Fees charged by companies from candidate for IRDA exam and training should reduce.

Many other extra facilities must be provide to agent to attract them such local and foreign trips,special price on achieving a target, open bank account at free of cost,

Bharti-AXA Life Insurance Company must organize more and more seminars and alsoparticipate in the job trade fairs to find out more candidates.

Increase the commission of agents.

Company must relic to candidate or other people that they are doing a social service for thewelfare of society.

Better career opportunity must be provided to an adviser, such as on role job, promotion etc.

A special function must organize time to time in which the special prizes distribute among those

agent who perform well.

The duration of the process of recruitment and selection is too long (one and half month), duringthis process mostly candidate loss there interest, so there is an urgent need to reduce the durationof this period.

Reduce the minimum premium amount it will help company to attract the agent of othercompany, as it increases the scope of market of its agent.

BIBLIOGRAPHY

S. Balachandran, (2009), IC-33 Life Insurance, Shri S.J Gidwani Publishers, Mumbai

www.irdaindia.org

www.bhart-axalife.com

www.wikipedia.org

www.ibef.org
http://www.irdaindia.org/http://www.irdaindia.org/http://www.bhart-axalife.com/http://www.bhart-axalife.com/http://www.wikipedia.org/http://www.wikipedia.org/http://www.ibef.org/http://www.ibef.org/http://www.ibef.org/http://www.wikipedia.org/http://www.bhart-axalife.com/http://www.irdaindia.org/


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The opportunity

About 2/3 of the Indian population is insurableHigh % of population is uninsured or underinsurance.

We Indian are natural saversIndians save the maximum in the world.

Those insured are underinsured.