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A PROJECT REPORTA PROJECT REPORT

ONON

CANDIDATE SELECTION PROCESSCANDIDATE SELECTION PROCESS

FOR INSURANCE ADVISORFOR INSURANCE ADVISOR

PROGRAMMEPROGRAMME

GUIDED BYGUIDED BY

DR, HARISH SINGHDR, HARISH SINGH

SUBMITTED BY:SUBMITTED BY:

TUSHAR PATIYALTUSHAR PATIYAL

ROLL NO. 71ROLL NO. 71

B.B.A VTH semesterB.B.A VTH semester

MAHARAJA SURAJ MAL INSTITUTEMAHARAJA SURAJ MAL INSTITUTE

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NE DELHINE DELHI

ACKNOWLEDGEMENT

On the eve of admission of this project report I take this pleasure to

acknowledge all those personalities who have guided and encouraged as well as

cooperated and assisted in accomplishing this project. Success is an endeavor,

calls for the cooperation and guidance from the seniors and the colleagues. Noamount of written expression is sufficient to show my deepest sense of gratitude

to them. This was aptly rought to me while undergoing my training. I would like

to take opportunity, especially to express my profound gratitude and

indetedness to !r. Sushil "erma# !anager, Tata $I%, for his constant

assistance and guidance.

I also deem it to e my privilege to acknowledge the encouragement and

facilities provided to me y T$T$ $I% &ife Insurance 'ompany &td. to make this

project a fruitful one. I am thankful to Mr. Deepak Chakrobarty and Mr.

Basudev Bose, Dre!tor "ndraprastha Consu#tan!y $erv!es, $enor

Busness Asso!ates %th Tata A"G L&e "nsuran!e Co. Ltd.for his exemplary

guidance, monitoring and constant encouragement throughout the project.

I am also thankful to all those people of TATA A"G L&e "nsuran!e

Co'pany Ltd. whom I came across for their extended support during the

project period.

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I remain deeply appreciative of persistent cooperation of my project guide

D(. )A("$) $"NG) for his support throughout the project.

"NDE*"NDE*

CE(T"+"CATE O+ T)E COMAN-

ACKNOWLEDGEMENT

(E+ACE

C)ATE(/ E*EC0T"1E $0MMA(- O+ T)E (O2ECT

C)ATE(3 COMAN- (O+"LE

Introduction

(istory

)roduct )rofile

Sales figures* !arket Share

Organi+ational 'hart

C)ATE(4 2OB DE$C("T"ON

etailed -o )rofile

$rea $ssigned

Target $ssigned

ay to day on jo experience

C)ATE(5 +"ND"NG 6 ANAL-$"$

ifficulties faced

!ajor limitations

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C)ATE(7 CONCL0$"ON 6 $0GGE$T"ON$

uture %rowth )rospects / Suggestion

ANNE*0(E

01 2iliography

31 4uestionnaire

"NT(OD0CT"ON ON

TATA A"G

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T)E TATA G(O0

The Tata %roup, easily India5s most recogni+ed usiness group, was

founded y -amsetji Tata and egan with a textile mill in central India in the

0678s. rom there, it has evolved into a truly diversified conglomerate spanning,

among other sectors, 9ngineering, 9nergy, 'hemicals, 'onsumer )roducts, and

'ommunications / IT. The Tata %roup is one of India:s est#known industrial

groups with an estimated turnover of around ;S illion ?approximately

3@A of India:s %)1. Bith more than 338,888 employees across C0 major

companies, it is also India:s largest employer in the private sector.

The Tata %roup pioneered several firsts in Indian industry firsts, includingD

India5s first private sector steel mill, first private sector power utility, first luxury

hotel chain and first international airline, amongst others. Eecently, the Tata

%roup5s pioneering spirit has een showcased y companies such as Tata

'onsultancy Services ?T'S1, $sia5s largest software and services company, and

Tata !otors, the first car maker in a developing country to design and produce a

car from the ground up.

The Tata %roup stale of rands also includes many national and some

internationally renowned product and service rands, includingD

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Tata Motors 8'u#tut#ty !ars9

Tata !otors, India5s largest automoile company,

manufactures two kinds of multi#utility vehiclesD the well#appointed Tata Safari

and practical Tata Sumo.

Tata Motors ?assen:er Cars9

Tata !otors has a pioneering presence in India5s

automoile industry, est illustrated y the path#reaking creation of the Indica, a

hatchack that was the country5s first indigenously designed and manufactured

car. Since then the company has expanded its passenger cars portfolio, which

now also oasts the Indigo, a sedan, and the Indigo !arina, a station wagon.

The Ta; Group o& )ote#s 8Lu

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operation of the renowned Taj !ahal )alace and Tower, !umai. Indian (otels

and its susidiaries are collectively known as Taj (otels Eesorts and )alaces

and, together, form the largest hotel chain in India

Tata Tea 6 Tet#ey

The Tata %roup runs the world5s

second#largest randed tea operation. Tata Tea and Tata Tetley are the two

companies that power the group5s leadership drive in the worldwide tea industry.

Tata $a#t

2esides tea and coffee, Tata %roup enterprises are also

involved in the production of food additives and spices. Tata Salt is the No 0

food rand among India5s most trusted rands. India5s most preferred salt is one

of the purest availale in the country. !oreover, Tata Salt contains the right

amount of iodine, vital for physical and mental growth and development.

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Ttan

Titan Industries is India5s leading manufacturer of watches and

the world5s sixth largest manufacturer rand of watches. The company makes

aout 7 million watches and clocks every year and has a customer ase of some

@8 million. It enjoys over >8 per cent market share in India5s organi+ed watch

segment.

Tansh=

TanishF, a division of Titan Industries, is India5s largest

jewellery rand. It has 7= outiFues in >> cities across the country

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Westsde 8Gar'ent (eta# Out#et9

Trent, the Tata 'ompany that owns and operates the Bestside

chain of lifestyle stores, retails garments and household accessories. Set up in

0CC6, Bestside is among the fastest#growing retail chains in India. It has a team

of dedicated merchandisers, store staff and in#house designers, and its store

portfolio comprises clothes and accompaniments for men, women and children.

The chain also sells household accessories, cosmetics and perfumes. The other

products and rands areD Tata Steelium, Tata Shaktee, Tata Tiscon, Tata

2earings and "oltas.

2y comining ethical values with usiness acumen, gloali+ation with

national interests and core usinesses with emerging ones, the Tata %roup aims

to e the largest and most respected gloal rand from India whilst fulfilling its

long#standing commitment to improving the Fuality of life of its stakeholders.

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T)E A"G G(O0

$merican International %roup, Inc. is the world5s leading international

insurance and financial services organi+ation, with operations in more than 0G8

countries and jurisdictions. $I% memer companies serve commercial,

institutional and individual customers through the most extensive worldwide

property#casualty and life insurance networks of any insurer. In the ;nited States,

$I% companies are the largest underwriters of commercial and industrial

insurance and $I% $merican %eneral is a top#ranked insurer. $I%5s gloal

usinesses also include retirement services, financial services, and asset

management.

$I%5s financial services usinesses include aircraft leasing, financial

products, trading and market making. $merican %eneral inance leads $I%:s

growing gloal consumer finance usiness in the ;nited States. $I% also has

one of the largest ;.S. retirement savings usinesses through $I% Sun$merica

and $I% "$&I', and is a leader in asset management for the individual and

institutional markets, with speciali+ed investment management capailities in

eFuities, fixed income, alternative investments and real estate.

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TATA A"G

Tata $I% &ife Insurance 'ompany &td. is a joint venture of the Tata %roup

and $merican International %roup, Inc. ?$I%1. The Tata %roup holds 7= per cent

stake in the two insurance ventures while $I% holds the alance 3@ per cent

stake. Tata $I% %eneral Insurance 'ompany, which started its operations in

India on -anuary 33, 3880, offers the complete range of insurance for

automoile, home, personal accident, travel, energy, marine, property and

casualty, as well as several speciali+ed financial lines.

Tata $I% &ife Insurance 'ompany &td. is India5s leading insurance company

providing oth &ife and %eneral Insurance. It represents the trust and integrity of

T$T$ group comined with the international expertise and financial strength of

$I%, Inc. +or ndvdua#s>motor, health, and accident and health n travel. +or

Corporate>accident n health, travel, energy, property, marine n contingency.

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MANAGEMENT

Trevor Bu## ? Mana:n: Dre!tor

!r. Trevor 2ull joined Tata $I% &ife as !anaging irector in -anuary 388@.

)rior to this, Trevor was Senior "ice )resident and %eneral !anager at

$merican International $ssurance in Horea. Trevor has over 36 years of

experience in the life insurance industry and has spent considerale time working

in -apan and 2ritain. (is experience covers an array of skills at various authority

levels including irector, Eegional 9xecutive, Senior &ine !anagement and

)roject !anagement. $dditionally, Trevor has acFuired keen insights into ;nit

&inked, conventional life and health insurance* reinsurance and all majorproducts / distriution channels.

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$WOT ANAL-$"$ O+

TATA A"G

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$WOT ANAL-$"$

$ SBOT ?Strengths, Beaknesses, Opportunities and Threats1 is a tool

used to provide a general or details snapshot of a company:s health. $n

effective SBOT analysis will help determine in which areas a company is

succeeding, allowing it allocate resources in such a way as to maintain

any dominant positions it may have.

$tren:ths>

Tata $I% has the strong rand name of T$T$ / $I% with it.

It offers a good career path for advisors. ? $dvisor to 2usiness $ssociateto a Senior 2usiness $ssociate / finally to a !anagerial 2usiness

$ssociate1

Tata $I% has a good reputation among customers.

It gives Ist year highest commission.

Tata $I% has a strong training support

Tata $I% is the only Insurance 'ompany in the world rated $$$ y SB).

It is the only company that provides whole infrastructure to new advisors. It ensures a long#term growth for the insurance advisors.

WEAKNE$$>

Tata $I% is conservative in the context of advertising.

It is an underwritten driven company.

OO(T0N"T"E$>

Tata $I% provides protection against financial loss / helps in future

planning.

They also provide additional rewards for advisors.

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T)(EAT$>

2ecause of the mushrooming of the private insurance companies, there isincreased competition.

The training period of 06 working days*088 hrs and the fee of 0888*#, also

stands as a hindrance for people who are interested to ecome insurance

advisors

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"N$0(ANCE

(EG0LATO(-

DE1ELOMENT

A0T)O("T- 8"(DA9

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ABO0T "(DA

IE$ is a government ody that protects the interests of the

policyholders, to regulate, promote and ensure orderly growth of the

insurance industry and for matters connected therewith or incidental thereto.

The way E2I controls all the anks, in the same manner IE$ takes control of

all the insurance companies. It includes registrations, licensing and laying

down regulations for proper conduct of usiness.

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"(DA NO(M$ +O( T(A"N"NG A$ A +"NANC"AL

AD1"$O(

$ financial advisor must possess a license issued y IE$.

The Fualifications necessary efore a license can e given are that the

person mustD

2e at least 06 years old

(ave passed at least the 03th standard or eFuivalent examination

(ave undergone practical training for at least 088 hrs in life or general

insurance usiness

(ave passed the pre#recruitment examination conducted y the IE$.

DOC0MENT$ (E@0"(ED

On the time of the registration, the candidate has to ring along a list of

documents. These areD

@ photographs

Identification proof

ate of irth proof

(ighest 9ducation proof

Eesidence proof

Es. 0888*# emand raft favoring Tata $I% &ife Insurance company &td.J

)ayale at New elhi.

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(OD0CT (O+"LE

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(OD0CT$

Tata $I% &ife Insurance 'ompany speciali+es in helping their customer in

fulfilling their future financial goals and uilds an extra security cover for their

family and loved ones. The various products offered areD

"nvest assure 0nt Lnked "nsuran!e #an> This highly flexile plan

gives you full life cover $N high returns $N the flexiility of deciding the

length of your life cover term, the amount of cover you receive / where the

rest of your premium is invested.

Maha#&e > This exceptional policy ensures that you have a steady income

and insurance coverage for lifeK )remiums are payale only for the first 03

years. Lou can even use this to create a steady stream of post retirement

income.

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Edu!are > This first of its kind juvenile endowment policy is geared toward

funding your child:s education. Lou can choose etween $ssure 9ducare

06 and $ssure 9ducare 30, depending on your child:s needs.

$hubh L&e > This plan provides you 088A life insurance protection and

high returns on your investment ut the premiums you pay are among the

lowest of any similar endowment policy.

Money $aver #an >This savings plan provides you with cash payments

in the form of survival enefits at regular intervals to fund your child:s

needs at critical milestones or support your financial oligations. Lou get

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the dual enefits of life insurance coverage plus the flexiility of periodic

payments.

Nrvana 6 Nrvana #us> This is India:s first and only pension policy with

a guaranteed addition of 08 percent of sum assured every > years. Loucan choose from three levels of cover, and also decide the age you want

to retire.

$tarkd> $n exceptional endowment policy that ensures you can afford to

give your child the very est for his career / marriage.

)ea#th rote!tor > The average cost for a major surgery or treatment in

hospital is etween three to five lakh. (ealth )rotector is the first product

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of its kind in India that offers you protection in case $NLON9 in your

family has an accident or falls ill.

MA(KET $)A(E

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GENE(AL

A*A

ALL"AN

M0N"C) (E

$W"$$ (E

AEGON

A1"1A

,(0DENT"AL

A"G

MA(KET $)A(E

T$T$ $I% &ife Insurance 'ompany has said that it aimed to e thenumer#two private player in the life insurance industry with a market share of 38

per cent y 3887.

!r. Trevor 2ull, !anaging irector, Tata $I%, estimated that y 3887,

private players would have aout =8 per cent of the total life insurance marketM

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currently dominated y the &ife Insurance 'orporation. Tata $I% &ife Insurance

'o. is expecting a 6>#C8A growth in its total premium income in 8@#87.

Tata $I% has 6> offices in cities, and would e opening 38#3> new offices

during 8@#87 to cater to a larger customer ase. )rofit from %eneral Insurance for

8>#8@ is estimated to e 0G.@ crore.

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O(GAN"AT"ONAL

C)A(T

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A)D one $gency (eads

BO$> 2ranch Officer Sales

2$O> -unior SalesOfficer

$E> South 9ast

$W> South Best

CBD> 'onnaught )lace

D"(.D irector

27

MANAG"NG D"(ECTO(

$(

SO;T(

$(

S9

$(

!;!2$I

$(

NOET(

$(

B9ST

$(

9&(I

$(

9$ST

$(

SB

2OS -SO 2OS -SO

&OT;S '2 NOI$ !OTINgr

D"(. O+AGENC-

D"(. ALT.C)ANNEL

D"(. O+T(A"N"NG

D"(.BNKA$$(NC

D"(. (0(AL"N$0(ANCE

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OB2ECT"1E O+ T)E $T0D-

The ob;e!tve s to des:n out !anddate se#e!ton pro!ess &or nsuran!e

advsor pro:ra'.

Tata $I% is looking for insurance advisors to give advice and sell

insurance. $nd it pays as much as one wants it to. Tata $I% &ife, a company that

comines the trust and integrity of the Tata %roup with the expertise / financial

strength of $merican International %roup, Inc.

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The person receives Borld#'lass training while the marketing /

management support ensures their success. So, our main aim is to look out for

eligile candidates who have the time to devote and desire to earn money and

then recruit and select them as financial advisors.

DETA"LED 2OB (O+"LE

The project reFuired me to approach people and make them aware of the

part#time usiness opportunity that Tata $I% is offering, wherein, they will e

recruited and selected as inancial $dvisors. (ere, not only will they earn a lot,

ut the growth prospects would also e open to them. or this, we collected datathrough various means and some of it was provided y the company as well. Be

were supposed to make calls to people, undertaking surveys, etc., make them

aware of this opportunity and arranging appointments with our manager. $fter

this, they were interviewed and later on selected, if eligile, for the offered work.

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Our pro;e!t n Tata A"G nvo#ved the &o##o%n: tasks>

(e!rut'ent> %ays, sour!es and 'eans

$e#e!ton Crtera

$e#e!ton ro!edure

T)E 0N"@0E BA MODEL

Tata $I% offers a uniFue 2$ !O9&. This is what makes Tata $I%

different from other Insurance companies. $ll private insurance companies

take a person as an agent and keep the as an agent all through their life till

the retirement period. 2ut, Tata $I% offers a growth model, where a person

joins the company as a financial advisor, and then keeps having a constant

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growth in his earnings as well his position. One can take this as a part time

work and can later on make a career also in this. (e may continue with his

present jo and the earnings from his this work can act as an add#on* extra

earnings to his salary

This 2$ !odel acts as the major attraction to people. In the process of

the promotions, one reaches to a position of a 2usiness $ssociate, where he

is provided with a fixed phone line and office space. $lso, this person handles

a team of 38 people and he earns 3>A on the earnings of his team as well.

T)E BA MODEL

31

+"NANC"AL AD1"$O(

$EN"O( +"NANC"ALAD1"$O(

po#!es ,pre'.

84 'onths9

4 ?3F9po#!es57,

!o''sson8/3 'onths9

3FH5H

43H

IH av:.bonus

Tr:. $0O(T

rodu!ton

$a#esresentatonTe#e!a##n:

Ter/ M:rBA

rodu!ts

$k##s

Ter3 M:r

BA

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32

B0$"NE$$A$$OC"ATE

O&&!e spa!e

hone Lne

BA M:r

$r. BA M:r

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(EC(0"TMENT 6 DATA

COLLECT"ON

(EC(0"TMENT

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It is the process of finding and attracting capale applicants for employment.

The process egins when new recruits are sought and ends when their

applications are sumitted. The various methods that we followed for the data

collection in the recruitment / selection process of financial advisors areD

1) Data !o##e!ted &ro' 2ust Da# > The idea was to select various

segments where appropriate candidates could e found to e

recruited as financial advisors. Then the calls were made and

appointments were fixed with people who were found to e

interested.

The various segments covered areD

Interior decorators

2outiFues

2eauty parlors

Travel agents

lorists

'ale operators

'yer cafP owners

"ideo lirary owners

Tax consultants

'hartered accountants

$ll aove mentioned segments consist of people who have good contacts.

These people have large numer of visitors*customers at their work places

and can convince them well and, therefore, act as good financial advisors.These people possess the amount of time that is reFuired from a financial

advisor, and also a desire to earn money that motivates them to work

harder and give more and more usiness.

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2) Data !o##e!ted throu:h survey at varous p#a!es >

Metro 6 D0 survey>Be approached people here and invited them for a

seminar to e held at the office, aout the part time usiness opportunity

that Tata $I% was offering. Be approached people who appeared in their

retirement age, and who showed interest in indulging in a part time

usiness. Their name / contact numers were taken / later on they were

called and invited for a 'O) ?'areer Opportunity )ath1, at the office

premises.

Barakha'ba road

Kasturba Gandh 'ar:

Karo# Ba:h

"TO

Kash'ere Gate

$t the aove places, we approached people with a Fuestionnaire taking their

information. Through that we also asked if they were satisfied with their

current earnings and if would like to get involved in any part time usiness

opportunity. $lso since how many years was a person residing in elhi. $ll

this helps in judging who will e a etter person to approach first and who

fulfills the criteria we looking out for the most.

Data !o##e!ted &ro' )T C#ass&eds 6 Matr'ona#> 'alls were made at

random numers and people were invited for a one# to Q one meeting with

manager.

Data provded by respe!tve BAs> Be were assigned under a 2usiness

$ssociate each. These 2$s also provided us with data on which we madecalls and invited people at our office for the interviews.

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OB2ECT"1E O+ T)E (E$EA(C)OB2ECT"1E O+ T)E (E$EA(C)

The pr'ary ob;e!tve %ou#d be>

The main purpose of the project is to design out candidate selection

process for insurance advisor program.

The Other ob;e!tves %ou#d be>

$nalysis of positive and negative things aout the various means used to

carry out the recruitment process.

To see the availaility of people and their willingness to indulge

themselves in a part time career opportunity.

inally to conclude the findings and suggest the necessary corrective

measures and recommendations regarding the future growth prospects.

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T-E$ O+ DATAT-E$ O+ DATA

Two types of data: -

("MA(- DATA

$ECONDA(- DATA

("MA(- DATA>

)rimary data is the kind of data, which is collected y the investigator himself

for the purpose of the specific study. The data such collected is original in

character. The advantage of this method of collections authentic. $ set of

4uestions was put together in the form of two Fuestionnaires . The method of

sampling was the random convenient sampling method.

$ECONDA(- DATA>

Bhen an investigator uses the data that has een already collected y others

is called secondary data. The secondary data could e collected from

journals, Eeports, internet and various pulications. The advantages of the

secondary data can e it is economical, oth in terms of money and time

spent. The researcher of the report also did the same and collected

secondary data from various Internet sites like google.com, yellowpages.com

and many more. The researcher of the report also visited various liraries for

collection of the introduction part.

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DATA COLLECT"ONDATA COLLECT"ON

ata collected from various places such as 'onnaught place and

whereaouts, Harol 2agh, Hashmere %ate, etc.

Sample si+e, which has een covered, is 0>8.

Other information related to project has een taken from company

wesite.

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A(OAC) TO EOLE

To approach people we made calls to them to make appointments. To a

section of people who were interested in the opportunity yet did not have time,

we had sent someone from the office to attend them and explain aout the

whole opportunity in addition to the enefits it offered. Be had also invited

people for 'O)s, a seminar that talks aout the whole 2$ !odel and the

enefits that a financial advisor can avail once he starts with his work. Be

also did surveys, where we approached people face#to#face and gave them a

rief aout the opportunity and invited them for a one#to#one meeting or

seminar as would suit them. Be mainly approached people who seemed toe in their retirement age or ones who seemed to e on a look out for a jo,

part#time or full time.

Once people are short listed and recruited, we follow a series of procedures

through which they are finally selected. The procedure is known as the

selection process and is explained in detail.

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T)E $ELECT"ON

(OCE$$

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$ELECT"ON (OCE$$

Selection is the process of picking individuals ?out of the pool of jo

applicants1 with reFuisite Fualifications and competence to fill jos in the

organi+ation. It can also e defined asD It is the process of differentiating

etween applicants in order to identify ?and hire1 those with a greater

likelihood of success in a jo.

(ere, at Tata $I%, we have followed a series of processes in selection of a

inancial $dvisor.

C("TE("A +O( $ELECT"ON

$tab#ty n De#h>The person should e a stale elhi resident. Thisensures his having a good numer of contacts / an amount of trust that

people uild over a person.

Natura# Market> This also is a very important factor. The person who is to

e selected as an insurance advisor, if he has a natural market he can sell

insurances to them also.

T'e >The candidate should have enough time and proper focus for the

training as well as for the work.

Desre to earn 'oney >This is a factor that a candidate must certainly

possess. It would motivate him to give out more and more usiness / if he

will have a desire to earn money he would e more devoted toward his

work.

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$ELECT"ON(OCED0(E

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(OCED0(E

$t Tata $I%, following steps were followed y us in the selection of a financial

advisorD

CanddateJs proe sheet>$s soon as the candidate comes, he is made

to feel comfortale and then is given a candidate registration form to fill.The candidate is supposed to fill this form to provide us with his asic

personal information. or e.g. D

'andidate:s address.

Since how long he:s een residing in elhi

(is Fualification

(is experience, if worked earlier, etc.

re#'nary nterve%> This is done to eliminate the candidates who are

not found to e appropriate for the jo.

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Career Opportunty ath 8CO9>$ seminar is held, to give a rief detail

aout the 2$ !odel and the work of a inancial $dvisor. (e is also

notified aout all the details of the enefits he would get out of his jo. This

seminar is followed y some tea and snacks for the invitees.

"nterve%> Once the capale candidates are selected amongst all, they

are called for a One# to#one interview with the !anager. This is carried on

ecause D

It helps in otaining additional information from applicant.

It facilitates giving general information to applicant such as, company

policies, jo, etc., /

It helps uild 'ompany:s image among the applicants.

(e&eren!es> 'andidate is also asked for references. )revious employers,

known pulic figures, university professors, neighors or friends can act as

references. These are reFuired so that, once we register the selected

candidate with us, we would need to confirm his information provided y

him.

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$e#e!ton De!son> The person is analy+ed y the !anager on the asis

of the aove stages and is then finally selected for the jo.

(e:straton> This is the final step. Bhen a candidate fulfills all the aove

criteria, the registration is done. The candidate is asked to fill a NAA+,

Ne%A:ent App#!aton +or', and sumit his reFuired documents.

DA- TO DA- ON 2OB

E*E("ENCE

On reaching Tata $I%, my daily schedule was to discuss over topics of mycourse ooks with other trainees, esides reading newspapers.

The ojective of this training at Tata $I% was to recruit and select

Insurance $dvisors. In the eginning I was provided with the data y the

2usiness $ssociates, under whom we were assigned. On the asis of this

data, I was making calls telling them aout the part#time usiness opportunity

that Tata $I% has on offer.

$ numer of calls made y me were not responded as their numers

had changed. (alf of those with whom I got in contact were not interested in

the offer ecause of eing too usy to spare time. Of those who replied

favoraly and consented to an appointment for a meeting with the manager, a

few asked to call them later.

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or a numer of days we also conducted surveys at various places.

This was done in order to have a new experience as well as in search of

persons who ostensily appeared to e eligile for the jo of an Insurance

$dvisor. They were invited either for a 'O), 'areer Opportunity )ath, or for a

one#to#one meeting with !r. Sushil "erma, the !anager. &ater they were

called on phone and given appointment on mutual convenience. $s far as my

understanding goes, most of those contacted were not interested in attending

seminars, ut their response to person#to#person contact was generally

positive.

On daily asis, three to four persons used to visit the office at the

appointed time to meet the manager. !any of them were accepting the offer,ut for most of them the training period, ?06 full working days1, was a

hindranceM for very few ones, the fee amount of Es. 0888 would come in the

way. $ few for whom the offer was acceptale would keep delaying y

excuses of eing usy. rom those who were unale to personally attend the

training were offered to undertake online. Some of them were rejected

ecause they were not an online profile, i.e., undergraduates.

The modus operandi for a personal meeting was to make him

comfortale at first. Then he was offered to fill the candidate registration form

to get his asic personal information. Those who appeared matured and

experienced, were straight directed to meet the !anager, Tata $I% for getting

himself informed aout the career path and its enefits, where he was

explained aout the Tata $I%:s uniFue 2$ !odel and its details. $nd the rest

were initially attended y us and those we found fit were finally sent to the

!anager:s room.

Interspersed, were sessions held y experienced managers to enhance

our knowledge aout insurance sector and riefings on Tata $I% were given

off and on. 9very now and then were given lectures y senior officials to

improve our telecalling skills and how to interact with persons.

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$t the day#end, the !anager would sit with us to get the riefing of

day:s work and give us next day:s plan.

L"M"TAT"ON$

$lthough I had a wonderful experience while working with Tata $I%, yet I faced a

couple of difficulties. 9very task has its own limitations, and so did this

recruitment / selection process of the insurance advisors. They were as followsD

irstly, two months is a very short period to contact people and recruit

them.

)eople, who are already working on a C.88#>.88 jo, find it difficult to

take out time / come for the interview.

)erception of telecalling amongst people is that one has called to sell

insurance policies.

$vailaility of people is less at the time our surveys were conducted,

i.e., at afternoon on working days. The duration of training period ?06 days*088 hrs1 has proved to e

inconvenient for those who are usy in other vocations. So people

refrain from joining after initial contacts.

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2eing an opinion survey the personal iases of independent respondents

might have entered his*her opinion.

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B"BL"OG(A)-

The various ooks that I had consulted for the successful completion of my

summer training project are listed elow. These areD

H. $swathappa, (uman Eesource and )ersonnel !anagementJ, Tata

!c%raw#(ill )ulishing 'ompany &imited, New elhi

Shawn $ Smith, Eeecca !a+in # 2usiness / 9conomics

)hilip Hotler, !arketing !anagementJ, )rentice#(all of India )vt. &td.,

New elhi

Be visited the following sitesD

www.tata.com

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www.tata#aig*life.com

www.aig.com

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CONCL0$"ON

Bith introduction of the foreign sector in the field of Insurance, it has

ecome extremely competitive. Insurance involves tiring field work and tele

contacting, the prospective customers Q to persuade them and convince them

aout future enefits of the insurance scheme.

The Tata $I%, a multinational insurance concern, is usy in recruiting and

selecting insurance advisors tactfully, skillfully and with expertise. In view of the

competition, especially in the private sector, the Tata $I%, makes efficient sales

team effort with expertise and acumen to create excellent customer relationship

management with great online support and personal contacts.

The Tata $I% is one of the most prominent insurance companies with

international expertise and experience.

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