Submitted By TANU SHARMA Roll No. M0957 Batch No. 2009-2011 (MBA IIIrd Sem.)

R. P. INDERPRASTHA GROUP OF INSTITUTIONS (Approved by AICTE,HRD Ministry, Govt. of India)Affilated to Kurukshetra University, Kurukshetra.





(TANU SHARMA) Roll no. M0957 RPIIT



Sanjay Kamboj (Area Manager) who directly guide to me time to time about how to make this project more effective. I also want to thank to all the emloyees of BHARTI AXA LIFE INSURANCE (Karnal Branch). EXECUTIVE SUMMARY 4 . motivate and provide knowledge to me time to time for the development of this project. my parents for their moral support and my friends with whom I shared my day-to-day experience and received lots of suggestions that improved my quality of work. Bhupinder Rana (Branch Manager) & Mr. Vaishali Choudhary for giving me this to topic to do deep study and guidance regarding training and project report Lastly. I am also very thankful to respected Ms. I would like to express my sincere gratitude to Mr. help.It is my pleasure to thank to various respected persons who directly or indirectly guide.

During this student internship program I came to know that. In my survey I found that 80% of employees are new to the job and they must undergo the training program. In my complete student internship program I met more than 50 employees. So it can be possible only when the employees go through the training program. effective training has never been more important. 5 . However. fast changing world. for this. in the turbulent. my survey suggests that maximum number of employees. employers are responsible for providing opportunities for continued learning. knowledge based economy. Finally. creating awareness of organization structure and its products to the employee is very important to have individual as well as organization growth. Products are now increasingly knowledge intensive.This Report is an attempt to provide a detailed analysis of the process of training & development program done by Bharti Axa Life Insurance and benefits of the training. training helps people to learn how to do things differently or to do different things.


viz. LIC Act.BRIEF HISTORY OF INSURANCE SECTOR IN INDIA The insurance sector in India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again. The business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta. 5 crore from the Government of India. 1938 . with a capital contribution of Rs. 1928 .Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public. LIC formed by an Act of Parliament.The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. the first general insurance company established in the year 1850 in Calcutta by the British. on the other hand. Tracing the developments in the Indian insurance sector reveals the 360-degree turn witnessed over a period of almost 190 years.245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. can trace its roots to the Triton Insurance Company Ltd. 1956. 7 . The General insurance business in India. Some of the important milestones in the life insurance business in India are: 1912 ..The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses. 1956 .

The General Insurance Business (Nationalization) Act. set up.Some of the important milestones in the general insurance business in India are: 1907 . The risk.General Insurance Council.The Indian Mercantile Insurance Ltd. Under the plan of insurance. which can be insured against include fire. death. attached to individual. 1968 . incident. the National Insurance Company Ltd. 107 insurers amalgamated and grouped into four companies viz. & burglary. Any risk contingent upon these may be insured against at a premium commensurate with the risk involved. the peril of sea.. the New India Assurance Company Ltd. 1957 . a large number of people associate themselves by sharing risk.The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up. a wing of the Insurance Association of India. and the United India Insurance Company Ltd.. 1972 nationalized the general insurance business in India with effect from 1st January 1973. 1972 . frames a code of conduct for ensuring fair conduct and sound business practices. the first company to transact all classes of general insurance business. the Oriental Insurance Company Ltd. 8 . Indian Insurance Industry: Learn about Insurance may be described as a social device to reduce or eliminate risk of life and property. GIC incorporated as a company.

Insurance is actually a contract between 2 parties whereby one party called insurer undertakes in exchange for a fixed sum called premium to pay the other party happening of a certain event. the insurers pay the financial losses suffered by the insured as a result of the occurrence of unforeseen events. 9 . Insurance is a contract whereby. Functions of Insurance The functions of Insurance can be bifurcated into two parts: • • • Primary Functions Secondary Functions Other Functions The primary functions of insurance include the following: Provide Protection . by sharing the risk with others. Insurance is actually a protection against economic loss. in return for the payment of premium by the insured. accidents and uncertainty. Insurance cannot check the happening of the risk. are made good. but can certainly provide for the losses of risk. With the help of Insurance. due to accidental events. large number of people exposed to a similar risk makes contributions to a common fund out of which the losses suffered by the unfortunate few.The primary function of insurance is to provide protection against future risk.

Even the financial institutions may be prepared to give credit to sick industrial units which have insured their assets including plant and machinery. Prevention of losses cause lesser payment to the assured by the insurer and this will encourage for more savings by way of premium. Risk is the basis for determining the premium rate also Provide Certainty . which helps to change from uncertainty to certainty. by paying small amount of premium against larger risks and uncertainty.Insurance is a device to share the financial loss of few among many others. The secondary functions of insurance include the following: Prevention of Losses . etc. Reduced rate of premiums stimulate for more business and better protection to the insured. Contributes towards the development of larger industries .Collective bearing of risk . Small capital to cover larger risks . installation of automatic sparkler or alarm systems.Insurance provides development opportunity to those larger industries having more risks in their setting up.Insurance relieves the businessmen from security investments.Insurance is a device.Insurance determines the probable volume of risk by evaluating various factors that give rise to risk. Insurance is device whereby the uncertain risks may be made more certain. All the insured contribute the premiums towards a fund and out of which the persons exposed to a particular risk is paid. 10 . Assessment of risk .Insurance cautions individuals and businessmen to adopt suitable device to prevent unfortunate consequences of risk by observing safety instructions. Insurance is a mean by which few losses are shared among larger number of people.

The other functions of insurance include the following: Means of savings and investment . insurance is a compulsory way of savings and it restricts the unnecessary expenses by the insured's For the purpose of availing income-tax exemptions also. Aggressive and penetrative marketing strategy coupled with wide product bandwidth was an instant success among the ignorant masses. 'India Insurance' growth was long overdue. Tata AIG. which makes the foreign trade risk free with the help of different types of policies under marine insurance cover. both Life and General flocked. Most of the private companies registered more than 100% growth till then and are still continuing with such monstrous growth figures.Insurance is an international business.Insurance serves as savings and investment. Now 'India Insurance' industry has more than a dozen private life insurance players and 9 private general insurance companies. Top rank private companies like ICICI Prudential Life Insurance.Insurance promotes exports insurance. people invest in insurance. 'Insurance in India' is not regarded as a basic need but it is getting popular among semi urban to rural masses. Within 1st 12 months of liberation of 'Indian Insurance Industry' 10 licenses for selling life insurance products and 6 licenses for selling non-life products were issued to private companies. Source of earning foreign exchange . The end of the year 2000 marks a significant change and growth of 'India Insurance' industry scenario. The country can earn foreign exchange by way of issue of marine insurance policies and various other ways. Risk Free trade . collaborated and helped astronomical growth of 'Insurance Industry in India'. Monopoly of Public Sector Insurance company marks an end and Private companies makes inroad. Foreign companies. The Public sector giant LIC started losing its market share at the cost of stupendous growth of private players. Although. Bajaj Allianz etc are aggressively researching and innovating products for huge untapped rural 'India 11 .

With more awareness and wide bandwidth of insurance product portfolio the growth for 'India Insurance' story will only get more competitive and more affordable to all sections of Indian society. In the private sector 12 life insurance and 8 general insurance companies have been registered. A host of private Insurance companies operating in both life and non-life segments have started selling their insurance policies since 2001. tsunamis. Until very recently it had only corporate buyers. Life insurance products cover risk for the insurer against eventualities like death or disability. Under the current guidelines. burglary.Insurance' market. earth quakes. rural banks and village management authorities for selling insurance is doing wonders. lifting all entry restrictions for private players and allowing foreign players to enter the market with some limits on direct foreign ownership. but with natural disasters like. Collaboration with micro finance companies. Present Scenario The Government of India liberalized the insurance sector in March 2000 with the passage of the Insurance Regulatory and Development Authority (IRDA) Bill. The opening up of the sector is likely to lead to greater spread and deepening of insurance in India and this may also include restructuring and revitalizing of the public sector companies. storms and floods becoming more frequent and damaging there has been a sudden spurt in sales of general insurance amongst individuals. etc. Consumerism of life style goods and modern amenities has also contributed to its growth. 12 . Non-life insurance products cover risks against natural calamities. There is a proposal to increase this limit to 49 percent. there is a 26 percent equity cap for foreign partners in an insurance company. They are not as popular as life products in the ' Insurance India's' portfolio. post offices.

maintenance.liability match by investing their funds in such projects. In the first half of 2002. commercial and political risks. the private players are slowly gaining a foothold. In July 2002. With a large capital outlay and long gestation periods. Most of the new entrants reported losses in the first year of their operation in 2001. the GIC subsidiaries were restructured as independent insurance companies. In fact. International Insurance companies also invest their funds in such projects. IRDA regulations require insurance companies to invest not less than 15 percent of their funds in infrastructure and social sectors. Insurance companies not only provide risk cover to infrastructure projects. including geological risks. According to estimates. infrastructure projects are fraught with a multitude of risks throughout the development. These include risks associated with project implementation.34 billion. construction and operation stages.Non-Life Insurance Market In December 2000.recourse basis. Parliament passed a bill. With long term liability. 13 . they get a good asset. Without covering these risks the financial institutions are not willing to commit funds to the sector. up from 4 percent in 2001. GIC was converted into a national re-insurer. delinking the four subsidiaries from GIC. the private companies booked premiums worth Rs 6. Although the public sector companies still dominate the general insurance business. At the same time. insurance companies are an ideal source of long term debt and equity for infrastructure projects. private insurance companies have a 10 percent share of the market. Presently there are 12 general insurance companies with 4 public sector companies and 8 private insurers. especially because the financing of most private projects is on a limited or non. they also contribute long-term funds.

which can be safely borne from their own funds. It helps to provide a better spread of risk in the international market. The balance risk is re-insured with other insurers. the insurance companies are turning once again to old hands such as NTPC. re-insurance is insurer's insurance. settle accumulated losses arising from catastrophic events and still maintain their financial stability. It is the last segment that has a number of additional products and competitive pricing. Insurance. Re-insurance business Insurance companies retain only a part of the risk (less than 10 per cent) assumed by them. In effect. with IPP projects fizzling out. Under the existing norms. the Tariff Advisory Committee sets the premium rates. shouldering about 40-50 per cent of the risk and receiving a proportionate percentage of the premium.2. allows primary insurers to accept risks beyond their capacity. Of late.Insurance costs constitute roughly around 1. NHPC and BSES for business. and projects above Rs 15 billion are subjected to re-insurance pricing. therefore. For Projects costing up to Rs 1 Billion. The other companies share the remaining risk and premium. Consequently they are treated as pass-through costs for tariff calculations. for Projects between Rs 1 billion and Rs 15 billion. The policies are renewed usually on an annual basis through the invitation of bids. insurance premium payments are treated as part of the fixed costs. like project finance. the rates are set in keeping with the committee's guidelines. Premium rates of most general insurance policies come under the purview of the government appointed Tariff Advisory Committee.2 percent of the total project costs. It forms the backbone of the insurance business. 14 . is extended by a consortium. Normally one insurer takes the lead.

following the rise in threat perceptions globally. Life Insurance Market The Life Insurance market in India is an underdeveloped market that was only tapped by the state owned LIC till the entry of private insurers. smart marketing and aggressive distribution. Currently. With the entry of the private insurers the rules of the game have changed. GIC itself has been the major reinsurer.03 over last year. That's the triple whammy combination that has enabled fledgling private insurance companies to sign up Indian customers faster than anyone ever expected.While GIC's subsidiaries look after general insurance. The aim is to ensure that GIC's role as the national reinsurer remains unhindered. Innovative products. The growing popularity of the private insurers shows in other ways. state owned LIC's new premium business has fallen.insured with no flexibility or transparency in the products. However. Reinsurance premiums have seen an exorbitant increase in recent years. The 12 private insurers in the life insurance market have already grabbed nearly 9 percent of the market in terms of premium income. Most customers were under. The new business premiums of the 12 private players has tripled to Rs 1000 crore in 2002. not as a product giving protection. The state owned LIC sold insurance as a tax instrument. The state owned companies still 15 . Indians. GIC reinsures the amount further with international companies such as Swissre (Switzerland). and Royale (UK). Munichre (Germany). The penetration of life insurance products was 19 percent of the total 400 million of the insurable population. all insurance companies have to give 20 per cent of their reinsurance business to GIC. who have always seen life insurance as a tax saving device. They are coining money in new niches that they have introduced. are now suddenly turning to the private sector and snapping up the new innovative products on offer. Meanwhile.

nearly all private insurers are fastforwarding the second phase of their expansion plans.000. the private insurers have already wrested over 33 percent of the market.dominate segments like endowments and money back policies.way bigger than the industry average. The private insurers also seem to be scoring big in other ways. For instance. But the private insurers are ahead in this game and the average size of their policies is around Rs 1.they are persuading people to take out bigger policies. And in the popular unit-linked insurance schemes they have a virtual monopoly. with over 90 percent of the customers. But a rejuvenated LIC is also trying to fight back to woo new customers. Buoyed by their quicker than expected success.1 lakh to Rs 1. 16 . That has risen to about Rs 80.000. No doubt the aggressive stance of private insurers is already paying rich dividends. the average size of a life insurance policy before privatization was around Rs 50. But in the annuity or pension products business.2 lakh.

In the private sector 12 life insurance and 6 general insurance companies have been registered. 17 .THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (IRDA) Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in December 1999. The other decisions taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies were the launch of the IRDA’s online service for issue and renewal of licenses to agents. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies. The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained workforce of insurance agents in place to sell their products. Since being set up as an independent statutory body the IRDA has put in a framework of globally compatible regulations.

INSURANCE COMPANIES IRDA has so far granted registration to 12 private life insurance companies and 9 general insurance companies. Particulars of the life insurance companies and general insurance companies including their web address are given below: LIFE INSURERS Public Sector Life Insurance Corporation of India Private Sector Allianz Bajaj Life Insurance Company Limited Birla Sun-Life Insurance Company Limited HDFC Standard Life Insurance Co. General Insurance Corporation has been approved as the "Indian reinsurer" for underwriting only reinsurance business. Limited ING Vysya Life Insurance Company Limited Websites www. If the existing public sector insurance companies are included.iciciprulife.hdfcinsurance.com www.in www.com 18 . Limited ICICI Prudential Life Insurance Co. there are currently 13 insurance companies in the life side and 13 companies operating in general insurance business.birlasunlife.com www.co.allianzbajaj.licindia.com www.ingvysayalife.com www.

uiic.tata-aig.co. Pvt.com GENERAL INSURERS Public Sector National Insurance Company Limited New India Assurance Company Limited Oriental Insurance Company Limited United India Insurance Company Limited www.orientalinsurance.niacl.nationalinsuranceindia. Ltd.com www.com SBI Life Insurance Company Limited TATA AIG Life Insurance Company Limited AMP Sanmar Assurance Company Limited Dabur CGU Life Insurance Co.metlife.com www. Limited www.avivaindia.sbilife.ampsanmar. www.omkotakmahnidra.com MetLife Insurance Company Limited www.in www.com www.Max New York Life Insurance Co.nic.com Om Kotak Mahindra Life Insurance Co.maxnewyorklife.co.com www. Limited www.in 19 .in www.

com www. Export Credit Guarantee Corporation www.co. Ltd. Ltd.icicilombard.cholainsurance.in www.com 20 .Private Sector Bajaj Allianz General Insurance Co.com www.com www. Limited Royal Sundaram Alliance Insurance Co. Limited Cholamandalam General Insurance Co.in www.co. TATA AIG General Insurance Co.com www. Ltd. IFFCO-Tokio General Insurance Co.royalsun.com www. Ltd. Limited ICICI Lombard General Insurance Co.tata-aig.itgi.bajajallianz.ril. Reliance General Insurance Co.ecgcindia.

Descriptive research 2. Research Definition Research is a process in which the researcher wishers to find out the end result for a given problem and thus the solution helps in future course of action. According to Redman & Mory research is defined as a “Systemized effort to gain new knowledge”.3. 1. a research design is the arrangement of condition and analysis of data in manner that aims to combine relevance to the research purpose with economy in procedure. 1. Explorative research 21 .1.3 RESEARCH METHODOLOGY The Research and Methodology adopted for the present study has been systematic and was done in accordance to the objectives set which has been detailed as below.1 NATURE OF RESEARCH Research is basically of two types. Research Design: According to “Claire Seltiz”.

Descriptive Research: These studies are concerned with describing the characteristic of a particular individual or a group. 1. SAMPLE SIZE Total sample size is 50 1. Secondary Data: It consists of information that already exists somewhere and has been collected for some specific purpose in the study.3.3 DETERMINING SOURCES OF DATA There are two main sources of data 1.4 QUESTIONNAIRE Questionnaire: A set of questions containing a few Technical questions and more number of opinionated questions are prepared for the employees of both Centralized and Decentralized sections of HR Department. Primary data for this research study was collected through a direct survey to obtain this primary data a well structured questionnaire was prepared by the researcher. 22 . The secondary data for this study is collected from various Japanese Management books. Primary data 2. Secondary data Primary Data: It consists of original information collected for specific research.

In order to gather primary data from viewers. 1. Multiple Questions: A multiple choice question refers to one. which offers the respondents a choice between only two alternatives. Open ended questions: It has no fixed alternatives to which the answer must conform. Ranking questions: These questions are given when there are many points to be considered and to be ranked in priority. The survey was conducted within the company. The present questionnaire consists of following type of questions.5 LIMITATIONS 1. which provides several sets of alternatives for the respondents’ choice. Open ended questions Closed ended questions Dichotomous questions Multiple choice questions Ranking question. Thus. Dichotomous questions: A dichotomous questions refers to one. Closed ended questions: Closed ended questions have no other options other than the selecting the one that close matches the respondent’s opinion or attitude.Questionnaire Development: Questionnaire is the most common instrument in collecting primary data.3. respondent answer in his/her own words at any length they choose. 23 .

But the employees will be busy their works. 3.2. 24 . And in survey I have to interact with the employees. Getting the good response from the employee will be difficult because of their busy schedule. Time to interact with employees inside the branch is not sufficient. 4.


Bharti AXA Life Insurance is a joint venture between Bharti, one of India’s 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. The company was incorporated on 13th July 2007. Headquartered in Bangalore, the company currently has 30 branches across India. With a vision to become the leader and preferred company for financial protection in India, Bharti AXA General Insurance offers its customers - individuals and businesses- a wide range of products and services that meet their insurance needs. The company launched national operations in December 2006. Today, we have over 5200 employees across over 12 states in the country. Our business philosophy is built around the promise of making people "Life Confident". The company will leverage the Bharti Group’s large customer pool and develop a strong multi channel distribution network in both urban and rural markets. With a customer commitment to provide Fast, Fair & Friendly service in all aspects of business, the company offers transparency, structured customer support and trained manpower, backed by a robust IT platform. The company’s claims philosophy is to offer prompt and hassle free claims service that deals with the claims process with empathy. The Management team at Bharti AXA General Insurance consists of experienced leaders who are passionate about their company’s vision and goals and are committed to the development of Bharti AXA General Insurance as the preferred company for Financial Protection in India. As we expand our presence across the country to cater to your insurance and wealth management needs with our product and service offerings, we continue to bring 'life confidence' to customers spread across India. Whatever your plans in life, you can be confident that Bharti AXA Life will offer the right financial solutions to help you achieve them.


The vision of Bharti AXA Life Insurance Company Limited is to become the preferred life insurance company in India. This vision extends to our recruitment philosophy as well. Both the Bharti Group in India and AXA globally enjoy the status of being a very employee focused organization. At Bharti AXA Life Insurance, we are determined to achieve our vision through talent who are empowered, focused on customer service, and champions of strategic and operational excellence.



29 .’ . agri business. is one of India’s leading private sector providers of telecommunications services with an aggregate of 60 million customers.‘Bharti AXA Life Insurance Company Ltd. insurance and retail.with AXA. spanning mobile. Bharti Airtel Limited. Bharti also has a joint venture . Ltd’ . broadband and enterprise services. Bharti Teletech is the country’s largest manufacturer and exporter of telephone terminals. Bharti has a joint venture with ELRo Holdings India Ltd. Bharti Airtel was ranked amongst the best performing companies in the world in the BusinessWeek IT 100 list 2007.for global distribution of fresh fruits and vegetables.THE JOINT VENTURE OF BHARTI AND AXA BHARTI Bharti Enterprises is one of India’s leading business groups with interests in telecom. fixed line. Bharti has been a pioneering force in the telecom sector with many firsts and innovations to its credit. a group company. – ‘FieldFresh Foods Pvt.

China. 30 . AXA's operations are diverse geographically. Philippines. AXA had Euro 1. India and Malaysia. New Zealand.140 million. AXA APH had a$106. AXA Asia Pacific Holdings AXA Asia Pacific Holdings Ltd (AXA APH) is listed on the Australian stock exchange and is 52. Singapore.world leader in financial protection and wealth management. Ltd. North America and the Asia/Pacific area. It also has a joint venture – ‘Bharti Wal-Mart Private Limited’ – with Wal-Mart. Thailand.010 million and IFRS adjusted earnings to Euro 5. for wholesale cash-andcarry and back-end supply chain management operations. The AXA American Depository Share is also listed on the NYSE under the ticker symbol AXA. Hong Kong. It has operations in Australia.0 million for the six months ended 30 June 2007. AXA APH is responsible for AXA SA’s life insurance and wealth management businesses in the Asia-Pacific region.315 billion in assets under management as of December 31. For full year 2006. Indonesia. Bharti has recently forayed into the retail business under a company called Bharti Retail Pvt. IFRS underlying earnings amounted to Euro 4. AXA Group AXA Group is a worldwide leader in Financial Protection.3% owned by AXA SA.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. The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. with major operations in Western Europe. 2006. IFRS revenues amounted to Euro 79 billion.

GROUP SITES • Airtel • Bharti AXA General Insurance • Bharti-Tele Tech Ltd • Bharti Tele Soft • Bharti Resources 31 .

• Bharti Foundation 32 .

provides access to customer base of more than 130 million Multi channel execution capability 33 . 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.• • • • • • • To achieve a market position among the top 5 in India through a multidistribution. • • Strong partner Bharti . multi-product platform To adapt AXA's best practice blueprints as a sound platform for efficient and profitable growth To leverage Bharti's local knowledge.

products and business capability Strong AXA and Bharti brands which can be leveraged to attract and retain a high quality management team HR PRACTICE The guiding Human Resources principles at Bharti AXA are: • • Clearly define scope of responsibilities and empower people to deliver Provide people with the means to develop their competencies 34 .• • • Current Asia product range which is a strong match to products sold to the mass and mass affluent Global scale providing cost effective and speedy re-use of systems.

• • • • Consider individual training and development a priority investment Build organizations that are conducive to teamwork and that involve everyone Promote ongoing dialogue between managers and the people who report to them Make cultural difference a key source of strength MANAGEMENT PROFILE 35 .

Prior to this. operations and finance. Williams led AXA Asia Life's successful integration of MLC and Winterthur. 36 . Mr. Singapore. Thailand and the Philippines. Mr. Williams has over 15 years of experience in the insurance industry. Ltd. Mr. Indonesia. particularly in the areas of product & pricing actuary. Prior to joining AXA. information technology and manufacturing. Williams was Marketing Actuary with Swiss Reinsurance Company in Hong Kong. Corporate Development and Strategy for AXA Asia Life. UK and has been a fellow of the Institute of Actuaries (UK) since 1998. Mr Williams graduated with a B.Human Resources at Bharti AXA Life Insurance Company. Priya Ranjan is Director . Mr.Sc (Honor) from Loughborough University. Williams has been with AXA since 2002 and has held key positions in Hong Kong and the Philippines. China. India. In this position. he was the Regional General Manager. In 2006. Williams worked with AXA Asia Life's senior management to expand operations across the region in markets including Hong Kong. He brings to the business over 15 years of HR experience in diverse fields spanning financial services. Malaysia. He specialises in building large scale businesses right from their project days.Glenn Williams is the Chief Executive Officer and Managing Director for Bharti AXA Life Insurance Co. Mr.

Between June 1997 and May 2002. He started his career with ITC-Welcomegroup hotels division in 1989. after serving the office of Vice President and Head .HR for the Credit Card business. Reliance Infocomm & Tata AIG in senior positions managing sales at Zonal & National Levels. Personnel Officer from 1991 to 1994. He also has an entrepreneurial venture to his credit with Bangalore-based Team Excel.Before joining Bharti AXA Life. Kolkata and holds a Post Graduate Diploma in Personnel Management from XLRI. Ranjan was with JPMorgan Chase Bank.HR for the Global Service Centre of the Bank in India for about 3 years. Singapore as Vice President and Regional HR Manager .Sushanto has over 21 years of experience across Insurance. Ranjan is a BA (Hons) from St Xavier's College. managing large teams in Retail Distribution and effectively leading direct 37 . He has a strong background in developing & managing partnership channels in Life Insurance. Sushanto Mukherjee is the Chief Distribution Officer for Bharti AXA Life Insurance Company Ltd. where he was a part of the Project Team responsible for creating the business in India. Ranjan was with GE Capital as Vice President and Head . His first assignment was with Tata Steel as Sr. Prior to this. followed by Microland Ltd. Telecom. which specialised in recruitment and HR consulting. Hospitality and Office Automation.Technology & Operations (APAC) from May 2005. as Manager . he was Director & Head Partnership Distribution & Group Business at Max New York Life Insurance Co. Ltd.HR for two years. He has subsequently worked in various reputed organizations such as Xerox.

Mark Meehan is currently the Chief Marketing and Operations Officer for Bharti AXA Life Insurance Company Ltd.Product Development. With over 8 years of rich experience in the Life Insurance industry. Information Technology and Systems. Six Sigma. His role in Bharti AXA Life as CMOO includes Marketing. Underwriting. Mark’s previous role in AXA was that of CEO of Tynan Mackenzie P/L. He is an MBA from Cardiff Business School United Kingdom. today. Channel & Distribution Operations. Customer Service. Claims. Business Continuity and Client Persistency Management.sales teams in the Corporate Segment. He started his career as a Chartered Accountant in 1989 and over the past two decades has emerged as a stalwart in the financial sector. V Srinivasan is currently the Chief Financial Officer of Bharti AXA Life Insurance Company. INSURANCE PRODUCTS OF BHARTI AXA 38 . a professional investment services company. he stands as a storehouse of financial knowledge and expertise.

You can select the most suitable plan from our host of plans and make buying life insurance simple and convenient.At Bharti AXA Life. fall in specified segments and fulfill your specific objectives. right from traditional life insurance to unit linked life insurance. you can trust us to take care of your family at all times. Through our life insurance products. with a range of life insurance services. we want to take care of your responsibilities in the same way as you do for your loved ones. Protect your loved ones against financial contingencies at nominal costs 39 . Each of the plans. You can learn more about the segment and specific plans within the segment by clicking on the type of plan.

At such times. • • Bharti AXA Life Child Plans Bharti AXA Life Guaranteed Plans 40 . life insurance comes to your rescue. As someone who wants only the best for their family. these life insurance plans are the best solutions along with the surety of financial protection. Whether it is a a comfortable future. bigger home.You love your family and feel responsible towards them in every way. we understand your need to safeguard your family against any crises. Our life insurance coverage plans include 'traditional' plans that give guaranteed money on maturity. Our protection plans offer you high life cover at nominal costs so that you can fulfill your responsibility with ease and your family never has to face financial constraints. But life can be uncertain and unforeseen contingencies can meet you anytime. or even a dream vacation . we also offer market-linked plans that give you the benefit of good market performance to maximise your savings. • • Bharti AXA Life Elite Secure Bharti AXA Life Secure Confident Ensure your family's security + maximise your savings You can make your money work harder with our Wealth Creation with Protection plans. While.

Our flexible retirement plans ensure you live your dream retirement. By investing in these long-term plans by paying life insurance premium.Make the golden years of your life truly comfortable. you can go ahead and lead a comfortable retirement. you can earn a regular income even after you've stopped working. Retirement plans are the best way to systematically plan for your golden years. • • • Bharti AXA Life Dream Life Pension PLUS Bharti AXA Life Future Secure Pension Bharti AXA Life Future Advantage Pension Investments for your good health 41 . Without having to depend on anyone else or worry about rising costs.

• • Bharti AXA Life Shield Bharti AXA Life Sanjeevani Life Shield. we end up spending increasingly large amounts of money. is a simple.be it high blood pressure or various heart diseases. Bharti AXA Life offers you Health Plans that ensure freedom from stress when it comes to your health expenses and let you enjoy your life without any worries. 42 .Given the fast pace of our lives. a single premium group term life insurance product. Add to this the rising medical costs because of which. provide financial security and protection to your loved ones. Simple. With Bharti AXA Life insurance products. affordable plans to safeguard your family from life's uncertainties. we always run the risk of acquiring lifestyle diseases . affordable life insurance solution that financially secures the family of the group member by providing a life insurance cover.

that makes sure your family is not burdened with your loan liability in your absence. It is a simple. Now you can ensure that your family is protected from the uncertainties of life 43 . a single premium group term life insurance product provides financial security and protection to your loved ones.Sanjeevani. affordable plan to safeguard your family from life's uncertainties. With Bharti AXA Life Credit Protection Plans you can ensure that your family enjoys a good lifestyle and at the same time is protected from the uncertainties of life. • • • Bharti AXA Life Credit Secure Bharti AXA Life Mortgage Credit Shield Bharti AXA Life Credit Shield Bharti AXA Life Credit Secure is a single premium group reducing term life insurance product.

which protects the family of the borrower in the event of death by paying an amount to settle the outstanding loan. Presenting you with Credit Shield from Bharti AXA Life. 44 .even as they enjoy a good lifestyle. a group product . In case of an eventuality. Bharti AXA Life will pay an amount that can used to settle the outstanding loan amount.


In some organizations the term Learning and Development is used instead of Training and Development in order to emphasize the importance of learning for the individual and the organization. training is the act of increasing knowledge and skills of an employee for doing a particular job. adaptability and versatility of the employees and to facilitate learning at the work place To prepare employees for future job. Definition of Training: The systematic development of the knowledge. 46 . skills. skills and attitudes required by an individual to perform adequately a given task or job. To enhance the creativity.Training and development: In organizational development. Needs for training: • • • • To improve the current job performance of employees To familiarize employees with the policies and procedures of the organization. or knowledge within organizations. According to Edwin B Flippo. In other organizations. Training refers to efforts that help enhance employee skills for carrying out the present job. the related field of training and development (T & D) deals with the design and delivery of learning to improve performance. the term Human Resource Development is used.

'' while more experienced managers refresh their commitment to teaching and coaching their team members. knowledge and attitudes of the employees on a permanent basis. Areas of training: • • • • Company policies and procedures Human relations training Skill based training Problem solving training Onsite Workshops for Leadership Team Employees need more than bosses. this interactive seminar offers significant benefit to managers at all levels.• • • • • To change the skills. 47 . To gain competitive advantage through a knowledgeable work force. This training program provides healthy perspectives for managers at all levels. To promote organizational growth through individual growth. Team Leadership Workshop provides managers with proven techniques for effective personnel management. New supervisors gain a solid grounding in the concept of ''leadership. They need mentors: Professionals skilled at assessing employee development needs and committed to guiding employees toward professional success. making it an ideal morale-boosting leadership development experience for mixed groups of front-line supervisors and senior staff members. By helping leaders understand and address their employees' requirements. To maintain knowledgeable work force. To help employees manage their careers.

A Results-Oriented Training Program Team Leadership Workshop provides proven methods and procedures for successful people management. 48 . productivity. and validating the results. • Schedule their management responsibilities to ensure that nothing is left to chance. Without solid methods. Align their leadership style with those of their bosses. and subordinates. mentoring individuals. managers will revert use a one-size-fits-all approach to leadership that reflects the leader's personality. mentoring leadership is essential to employee morale. colleagues. Participants receive a step-by-step plan for guiding each employee toward success. and retention. • Develop competent and committed employees by mentoring and guiding their employees toward success. rather than the employees' needs. This workshop includes elements of Frank Whyte's nationally respected Team Building Workshops expanding upon that foundation to help leaders: • • Recognize each employee's personality preferences and supervisory needs. and • Use practiced real-world scenarios to resolve challenges and remove barriers.Leadership Training for Success All managers need methods. Committed. Leaders need to know the most effective techniques for guiding teams.

Training Program done by Bharti AXA Life Training is must for every individual when he enters into the organization. values and beliefs are different from one organization to other. Training program for sales managers: • • • The training program duration is 15 – 20 days They get training on product knowledge. Training program following Bharti AXA Life Insurance is different at various levels. Mainly in training program the company concentrates on sales managers. operations executives and telecallers. Even though the candidate has experience he also should get training. agents. That’s why the training program plays a key role in every organization. Motivating and encouraging Advisors Training program for Advisors: 49 . Why because the organization culture.

Continuing Professional Development or CPD 3. Objection Handling Training program for operations executives: • • • • They will get training on customer database files Taking care of the customer files Well trained in product information and documentation Renewals will be informed periodically.• • • • The training program duration is 15 – 20 days They get training on product knowledge How to convince the people. Distance Learning. Web-Based Learning 50 . E-learning aka Online Learning. Required skills for employees in Bharti AXA Life Insurance: • • • • • • • Interpersonal skills Excellent communication skills Understanding nature Aggressiveness Convincing skills Ability to motivate others Interest to learn TYPES OF TRAINING & DEVELOPMENT 1. Coaching 2.

Executive development 6. Leadership development 7. Web-Based Learning 4. Mentoring 14. Continuing Professional Development or CPD 3. Executive education 5. Knowledge Management 11. Instructional Strategies 10. Distance Learning. Executive development 6. Instructional Animation 51 . Instructional Animation 8. Instructional Design 9. Blended learning 16. Executive education 5. E-learning aka Online Learning. Teaching Method 15. Outbound Management Development Programmes TYPES OF TRAINING & DEVELOPMENT 1. Organizational Learning 12.4. Organizational knowledge 13. Coaching 2. Leadership development 7.

instructing and training a person or group of people. Outbound Management Development Programmes 17. and supervised practice. types of coaching and methods to coaching. with the aim to achieve some goal or develop specific skills. Coaching is a method of directing. Instructional Strategies 10. Continuing Professional Development (CPD) or Continuing Professional Education (CPE) is the means by which members of professional associations 52 . Teaching Method 15. Direction may include motivational speaking. Organizational knowledge 13. Blended learning 16.8. Organizational Learning 12. workshops. There are many ways to coach. Performance Management The various forms of Training and development are explained below: 1. Training may include seminars. Knowledge Management 11. Mentoring 14. Instructional Design 9. 2.

No in-person interaction may take place in some instances. Similarly. 5. although there is an ever-growing number of an Executive MBA program that are very similar and offer a Masters of Business Administration upon completion of the coursework. mainly Internet or computer-based. 3.CPD is defined as the holistic commitment to structured skills enhancement and personal or professional competence. Executive development is the whole of activities aimed at developing the skills and competencies of those that (will) have executive positions in organizations. 4. Lately in most Universities.maintain. These programs do not usually end in a degree. e-learning is used to define a specific mode to attend a course or programmes of study where the students rarely. to reach learners at a distance. In companies. In the USA. E-learning is used interchangeably in a wide variety of contexts. "executive" is commonly used to signify the top 5% to 10% of the organization. improve and broaden their knowledge and skills and develop the personal qualities required in their professional lives. Executive Education is the term used for programs at graduate-level business schools that aim to give classes for Chief Executives and other top managers or entrepreneurs. Electronic learning (or e-Learning or eLearning) is a type of education where the medium of instruction is computer technology. it is defined as a planned teaching/learning experience that uses a wide spectrum of technologies. it refers to the strategies that use the company network to deliver training courses to employees. if ever. attend face-to-face for oncampus access to educational facilities. While "executive" and "manager" and "leader" are often used interchangeably. however 53 . because they study online. "development" and "training" and "education" are often used as synonyms.

often as a part of 'Information Technology'. The process consists broadly of determining the current state of learner understanding. distribute and enable adoption of what it knows. the term educational animation may be preferred. 9. teacher-led or communitybased settings. These activities have ranged from MBA style programs offered at university business schools to high-ropes courses and executive retreats. when the goal is to support learning. Instructional Design is the practice of arranging media (communication technology) and content to help learners and teachers transfer knowledge most effectively. and creating some media-based "intervention" to assist in the transition. create. The outcome of this instruction may be directly observable and scientifically measured or completely hidden and assumed. Ideally the process is informed by pedagogically tested theories of learning and may take place in student-only. While both of these uses can be described as instructional animations. Many large companies have resources dedicated to Knowledge Management. 6. 7. Leadership development: Leadership development refers to any activity that enhances the quality of leadership within an individual or organization. 8. defining the end goal of instruction."development" is generally seen as the more encompassing of the three in terms of activities that build skills and competencies. represent. 'Human Resource Management' or Business 54 . and how it knows it. Instructional Animations are animations that are used either to provide instructions for immediate performance of a task or to support more permanent learning of subject matter. It has been an established discipline since 1995 with a body of university courses and both professional and academic journals dedicated to it. Knowledge Management ('KM') comprises a range of practices used by organizations to identify.

being able to read and make sense of economic data and being able to act on the basis of law-like generalizations. Organizational learning is an area of knowledge within organizational theory that studies models and theories about the way an organization learns and adapts.strategy departments. 12. Teaching methods are best articulated by answering the questions. an organization that is able to sense changes in signals from its environment (both internal and external) and adapt accordingly. In this sense the children are the students. it takes the form of causal generalizations – whenever A. In Organizational development (OD). A teacher creates the course materials to be taught and then enforces it. Mentorship refers to a developmental relationship between a more experienced mentor and a less experienced partner referred to as a protégé. 10. or (person) being mentored—a person guided and protected by a more prominent person. 13. Organizational knowledge: What is the nature of knowledge created. whenever it boils. "What is the purpose of education?" and "What are the best ways of achieving these purposes?". it turns into steam. For example. i. and consisted of children imitating or modelling their behavior on that of their elders. Scientific knowledge is ‘propositional’. Knowledge Management is a multi-billion dollar world-wide market. and the elder is the teacher. whenever water reaches the temperature of 100 degrees.e.. mentoree. For much of prehistory. learning is a characteristic of an adaptive organization. learning through observation and play. educational methods were largely informal. traded and used in organizations? Some of this knowledge can be termed technical – knowing the meaning of technical words and phrases. 11. pressure drives engines. then B. 55 . steam generates pressure when in an enclosed space. OD specialists endeavor to assist their clients to learn from experience and incorporate the learning as feedback into the planning process. And so forth. it boils.

teamwork. adding the relevant communication and action on the progress achieved against these predetermined goals. change management. blended learning is when an instructor combines two methods of delivery of instruction. Outbound Management Development Programmes are a training method for enhancing organizational performance through experiential learning. this term most often applies to the use of technology on instruction. • In network performance management (a) A set of functions that evaluate and report the behavior of telecommunications equipment and the effectiveness of the network or network element and 56 . communication skills. These programmes generally revolve around activities designed to improve leadership. However. 2. Blended Learning is the combination of multiple approaches to learning.1. A good example of blended learning would be to give a well-structured introductory lesson in the classroom. and motivation. Achievement and performance during these activities is reviewed in group discussions to identify behaviors’ that enhance performance or lead to failure or decreased performance. planning. Participants are divided into teams and assigned tasks or activities for completion in a specified time. 3. delegation. In the strictest sense. Blended learning can be accomplished through the use of 'blended' virtual and physical resources. Performance management is building on that process. and then to provide follow-up materials online. Performance measurement is the process of assessing progress toward achieving predetermined goals. A typical example of this would be a combination of technology-based materials and face-to-face sessions used together to deliver instruction.

such as gathering statistical information. Performance coaching: where a manager intervenes to give feedback and adjust performance 3. Desired Results. Performance management and improvement can be thought of as a cycle: 1. could constitute the performance improvement zone. and altering system modes of operation. • In organizational development (OD). where Actual is less than Desired.(b) A set of various sub-functions. Performance appraisal: where individual performance is formally documented and feedback delivered A performance problem is any gap between Desired Results and Actual Results. 57 . performance can be thought of as Actual Results vs. Performance planning: where goals and objectives are established 2. determining system performance under natural and artificial conditions. Any discrepancy. maintaining and examining historical logs. Performance improvement is any effort targeted at closing the gap between Actual Results and Desired Results.


1) What is your opinion on training? OPINION Very Good Good Bad Time waste Process Total %AGE 46% 28% 10% 16% 100% From graph it can be seen that 46% respondents are in favour of very good training. 59 .

60 .2) Do you feel that training will helpful for individual growth? OPINION Yes No Total %AGE 80% 20% 100% From graph it can be seen that majority of the respondents are 80%. Only 20% feel that training will not helpful for individual growth.

3) Did you satisfy with training what company conducted here? SATISFACTION LEVEL Satisfied Partially satisfied Fully satisfied Partially dissatisfied Fully dissatisfied Total %AGE 42% 23% 5% 28% 2% 100% From graph it can be seen that majority of the respondents are satisfied with the Training Program. Only 2% were fully dissatisfied with the Training programs. 4) Is there any improvement in performance after getting the training? 61 .

5) Who needs much knowledge regarding company and product? OPINION Agents %AGE 50% 62 . Only a meager 30% were dissatisfied with the Performance Appraisal programs.OPINION Yes No Total %AGE 60% 40% 100% From graph it can be seen that majority of the respondents are satisfied with the appraisal system.

Tele Callers Operation Executives All Total 16% 14% 20% 100% From graph it can be seen that majority of the respondents are satisfied with the appraisal system. Only a meager 30% were dissatisfied with the Performance Appraisal programs. 6) In which areas employee needs training? 63 .

AREAS Company Policies And Procedures Skill Based Training Problem Solving Skills All of The Above Total %AGE 16% 54% 8% 22% 100% From graph it can be seen that majority of the respondents are satisfied with the appraisal system. Only a meager 30% were dissatisfied with the Performance Appraisal programs. 64 .

65 .CHAPTER-5 FINDINGS FINDINGS • Trained & Developed employees can work more efficiently.

Training enables employees to secure promotions easily. They can realize their career goals comfortably and development helps in increase their morale. They can handle jobs with confidence.• • • Training & Development makes employees more loyal to an organization. social and technological change. greater job satisfaction and lower employee turnover. • Training & Development can contribute to higher production and fewer mistakes. Training & Development makes an employee more useful to a firm. Also. it can enable employees to cope up with organizational. CHAPTER-6 66 . They will be more satisfied on their jobs. • Employees can avoid mistakes on the job.

RECOMMENDATIONS RECOMMENDATIONS  Create awareness: The Company has to take care of awareness creation about the products and services among the Advisors/Agents  Charges: The Company has to reduce the mortality and administration charges. 67 .  The company has to give periodic training.

 Product promotion strategies should be improved.  Company should consider the present competition and should act according to the customer needs. Basic Carrier class which helps the advisors in different stages.  It should be like long term training like Fundamental Carrier class. CHAPTER-7 CONCLUSION 68 .

CONCLUSION In this Knowledge-based economy. training helps people to learn how to do the things differently or to the different things and Development is that which helps in improving the performance of the employees by giving them opportunities for growth. Products are now increasingly knowledge-intensive. for this employer are responsible for providing opportunities for continued learning. To cope with the challenges and competitiveness in the world. every organization needs the services of trained persons for 69 .

training program plays a key role in individual as well as organizational performance. So. 70 . 4) The way to behave people in corporate world. 3) The way to improve communication skills.performing the activities in the systemic way. LEARNINGS Learning’s in the on the job training:1) Importance of the training program 2) How the training program will help for the individual as well as organizational growth.

What is your opinion on training? Good Yes Yes Very good NO No Bad Time waste process 4.QUESTIONNAIRE 1. Name: 2. Designation: 3. Did you satisfy with training what company conducted here? 6. Do you feel that training will helpful for individual growth? 5. Is there any improvement in performance after getting the training? 71 .

New Delhi. Vol. U. L.P. “A strategic view of organizational training and learning”. 1. New Delhi: Vistaar publication.pvt. “Training for development”..ltd. 72 . R. New Delhi: Oxford and IBH publishing co. 2002.Yes Agents No Tele callers Operations executives All 7. In which areas employee needs training? Company policies and procedures Skill based training Problem solving skills All of the above REFERENCES 1) Lynton. 3) Rae. “The art of training and development. and Pareek. effective planning”. 2nd Ed.P. Who needs much knowledge regarding company and product? 8. 4) Tannenbaum. “Evaluation methodology for training”. 2) Bhatnagar. O. S.

Graw Hill. 3rd edition. 6) Personnel management. 7) Kothari. 2001. 6th ed. 1997. 1981. Ltd... Research Methodology. 8th ed. Mc.R.5) A hand book of human resource management practice. New Delhi 73 . Vikas Publishing House Pvt. C.