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SUBMITTED BY:TRIPTI SRIVASTAVA MFM(R&I) Submitted for partial fulfillment of the requirement of MFM(R&I) Session (2011-2013)

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I acknowledge that the practical training I have got from this cannot be gained otherwise. I found my project very interesting and challenging. Practical training is an important part of management courses. Theoretical studies are not sufficient to get into corporate world and understand the complexities of large-scale organizations. Practical training exposes us to real practices of management in the organization. It also exposes students to the treasures of experience, knowledge and learning which are prerequisites of making a successful career. I consider it a privilege to have undergone this project.

(Tripti Srivastava)

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I am very much thankful to the management of the Bharti AXA life insurance Company Ltd. for giving me an opportunity to do this project as a part of my MFM(R&I) program. The completion of this project is a successful and satisfactory out come of so many helping hands. I think it proper to express my deep obligation to my advisers. First and foremost, I am especially thankful to Mr. PARAS SINGH (Senior Business Manager, Bharti AXA Life insurance company Ltd., gomti nagar LUCKNOW) for giving me the opportunity to do my one and a half-month project training in their esteemed organization. I am highly obliged to Mr. Surendra Singh (agency Manager, Bharti AXA life insurance co. ltd., LUCKNOW) for his active co-operation and help for the completion of my project at lucknow. I also thankful to staff member of the organization for rendered service and provide various information to my purpose. Their suggestions are helping me in various stages. My usual thanks to Prof. S.C. Das my internal guide, who is constant source of help and inspiration to me and for his guidance without which the work could, has been possible. Above all my regards and thanks are due to my parent, family members and friends for the consistent support during doing the project.

With deep gratitude


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I hereby declare that study of process of recruitment and selection of life insurance agent has been exclusively done by me for the degree of MASTERS OF FINANCIAL MANAGEMENT(RISK & INSURANCE) and not for any other degree, Diploma or fellowship. This is my own study done under the guidance of trainer and Managers of the company. I hereby declare that the contents of this report are true and best to my knowledge. TRIPTI SRIVASTAVA

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This is to certify that the project report entitled the process of recruitment and selection of Life insurance agent submitted for the degree of MFM(R&I)for Banaras Hindu University, is a bonafied research work carried by Tripti Srivastava, student of Banaras Hindu University . This assistance and help received during the course of investigation have been fully acknowledged. Project Co-coordinator S.C. Das

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Brief summary
A general term insurance is related to service sector. Insurance is concerned with the protection of economic value of assets. For example in case of a factory or a cow, the product generated by it is sold and income is generated. In this project the Bharti AXA Life Insurance Company is undertaken which is one of the popular sector insurance sectors. The analysis of Bharti AXA Life Insurance is taken form different sectors. For creating strong relationship and for a successful business every insurance company requires financial planner.

Objective of the study:

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

Need of the study:

The study is undertaken to know how many people are interested to work as life insurance agent in Bharti AXA and their thinking about the Bharti AXA Life Insurance Company or about private insurance company.

In India, there is cut throat competition in the market of life insurance that brand services which adopts new strategies for sales.So I hereby conclude that the people are much aware about the aspects of life insurance and also have knowledge about the role and act of agent but mostly people are unwilling to work as life insurance agent and mostly people prefer to work with LIC because it is a semi government corporation.

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Table of Contents


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Brief introduction of insurance

What is insurance? Different types of insurance Need of life insurance History of insurance sector in INDIA Role of insurance in economic development

Company background
About the company strategy Board of Directors Its organization structure

Major players in the life insurance industry in india

Insurance Products of Bharti AXA Objective of the project


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Insurance industry is a booming sector. The business of insurance is related to the protection of the economic value of asset. Every asset has a value. The asset would have been created through the efforts of the owner, in the expectation that, either through the income generated there from or some other output, some of his needs would be met. There is a normally expected life time for the asset during which time it is expected to perform. Insurance is a mechanism that helps to reduce such as adverse consequences.

Basic aim of the insurance plan satisfies the following objectives: Protection of economic value of assets. Mechanism to reduce impact of adverse events on value generating assets.

Types of insurance
Insurance is generally classified into three main categories: 1. Life Insurance. 2. Health Insurance. 3. General Insurance. To get insurance an individual or an organization can approach to Insurance Company directly, through Insurance agent of the concerned company or through intermediaries.

Life Insurance
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals or in lump sums. There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium.

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Insurance has been known to exist in some form or other since 3000 BC. The Chinese traders, travelling treacherous river rapids would distribute their goods among several vessels, so that the loss from any one vessel being lost, would be partial and shared, and not total. The Babylonian traders would agree to pay additional sums to lenders, as the price for writing off the loans, in case of the shipment being stolen. The inhabitants of Rhodes adopted the principle of general average of general average, whereby, if goods are shipped together, the owners would bear the losses in proportion, if loss occurs, due to jettisoning during distress. {Captains of ships caught in storms, would throw away some of the cargo to reduce the weight and restore balance. Such throwing away is called jettisoning} The Greeks had started benevolent societies in the late 7 th century AD, to take care of the funeral and families of members ho died. The great fire of London in 1666,in which more than 13000 house were lost, gave a boost to insurance and the first fire insurance company, called the fire office, was started in 1680. The origins of insurance business as in vogue at present, is traced to the Lloyds Coffee House in London. Traders, who used to gather in the Lloyds coffee house in London, agreed to share the losses to their goods while being carried by ships. The losses used to occur because of pirates who robbed on the high seas of because of bad weather spoiling the goods or sinking the ship. In India, insurance began in 1818 with life insurance being transacted by an English company, the Oriental Life Insurance Co. in 1870 in Mumbai. This was followed by the Bharat Insurance co. in 1896 in Delhi, the Empire of India in 1897 in Mumbai, The United India in Chennai, the National, the National Indian and Hindustan Cooperative in Kolkata.

Later, were established the cooperative Assurance in Lahore, the Bombay Life (originally called the swadeshi life), the India Mercantile, the new India and the Jupiter in Mumbai and the Lakshmi in New Delhi. These were all Indian companies started as a result of the swadeshi movement in the early 1900s. By the year 1956, when life insurance business was nationalized and the life Insurance Corporation of India (LIC) was formed on1st September 1956, there were 170 companies and 75 provident fund societies transacting life business in India. After the amendments to the relevant laws in 1999, the L.I.C. did not have the exclusive privilege of doing life insurance business in India. By 31.8.2007, sixteen new life insurers had been registered and were transacting life insurance business in India. Page 10 of 80

The History of Insurance in India

Some of the important milestones in the life insurance business in India are: 1912 - The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business.

1928 - The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses. 1938 - Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public. 1956 - 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India. The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British.

Basic Need Of Life Insurance Life insurance is a contract providing for payment of a sum of money to the person assured or, failing him, to the person entitled to receive the same, on the happening of certain event. A family is generally dependent for its food, clothing and shelter on the income brought in at regular intervals by the bread winner of the family. So long as the he lives and the income is received steadily, that family is secure; but should death suddenly intervene the family may be left in a very difficult situation and sometimes, in stark poverty. Uncertainty of death is inherent in human life. It is this uncertainty that is risk, which gives rise to the necessity for some form of protection against the financial loss arising from death; insurance substitutes this uncertainty by certainty. Few Advantages of Life Insurance 1. It is superior to an ordinary savings plans: This is so because unlike other saving plans, it affords full protection against risk of death. In case of death, the full sum assured is made available under a life assurance policy; whereas under other savings schemes the total accumulated savings alone will be available. The latter will be considerably less than the sum assured, if death occurs during early years. Page 11 of 80

2. Insurance encourages and forces thrift: A savings deposit can be too easily withdrawn. Many may not be able to resist the temptation of using the balance for some less worthy purpose. On the other hand, the payment of life insurance premiums becomes a habit and comes to be viewed with the same seriousness as the payment of interest on a mortgage. Thus insurance, in effect brings about compulsory saving. 3. Easy settlement and protection against creditors: The life assured can name a person or persons to whom the policy moneys would be payable in the event of his death. The proceeds of a life insurance policy can be protected against.The claims of the creditors of the life assured by effecting a valid assignment of the policy. A married womens property act policy constitutes a trust in favor of the wife and children and no separate assignment is necessary. The beneficiaries are fully protected from creditors except to the extent of any interest in the policy retained by the assured. 4. Administering the legacy for beneficiaries: It often happens that a provision which a husband or father has made through insurance is quickly lost through speculative or unwise investment or by unnecessary expenditure on luxuries. These contingencies can be provided against in the case of insurance. The policyholder can arrange that in the in the event of his death the beneficiary should receive, instead of a single sum (a). payment of the net claim amount by equal instalments over a specified period of years, or (b).payment of the claim amount by smaller monthly instalments over the selected period followed by a lump sum at the end thereof. 5. Ready marketability and suitability for quick borrowings: After an initial period, if the policy holder finds him unable to continue payment of premiums he can surrender the policy for a cash sum. Alternatively he can tide over a temporary difficulty by taking loan on the sole security of the policy without delay. Further a life insurance policy is sometimes acceptable as security for a commercial loan. 6. Tax relief: For computing income tax (especially in India the Indian income tax act) follows deduction from income tax payable, a certain percentage of a portion of the taxable income of individuals which is diverted to payment of insurance premiums. When this tax relief is taken into account it will be found that the assured is n effect paying a lower premium for his insurance.

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How Insurance Works

The mechanism of insurance is very simple. People who are exposed to the same risks come together and agree that, if any one of the members suffers a loss, the others will share the loss and make good to the person who lost. All people who send goods by ship are exposed to the same risk related to water damage, ship sinking, piracy, etc. those owning factories are not exposed to these risks, but they are exposed to different kinds of risks like, fire, hailstorms, earthquakes, lightening, burglary, etc. like this, different kinds of risks can be identified and separate groups, made including those exposed to such risks. By this method, the risk is spread among the community and the likely big impact on one is reduced to smaller manageable impacts on all. If a Jumbo Jet with more than 350 passengers crashes, the loss would run into several crores of rupees. No airline would be able to bear such a loss. It is unlikely that many Jumbo Jets will crash at the same time. If 100 airline companies flying Jumbo Jets, come together into an insurance pool, whenever one of the jumbo jets in the pool crashes, the loss to be borne by each airline would come down to a few lakhs of rupees. Thus, insurance is a business sharing.

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Life Insurance Sector in India

Significant channel for household savings into capital formation GDP penetration of 4.1% Statutory requirements to provide reach to rural areas 2nd largest financial service in India after banking

Life Insurance
Total number of lives insured and on books as on March 31, 2008- 22 Crs Total Assets Under Management of Life Insurance Cos. as on March 31, 2008- Rs. 8,50,000 crores



The functions of Insurance can be bifurcated into two parts:

1. Primary Functions 2. Secondary Functions 3. Other Functions

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The primary functions of insurance include the following:Provide Protection - The primary function of insurance is to provide protection against future risk, accidents and uncertainty. Insurance cannot check the happening of the risk, but can certainly provide for the losses of risk. Insurance is actually a protection against economic loss, by sharing the risk with others. Collective bearing of risk - Insurance is a device to share the financial loss of few among many others. Insurance is a mean by which few losses are shared among larger number of people. All the insured contribute the premiums towards a fund and out of which the persons exposed to a particular risk is paid. Assessment of risk - Insurance determines the probable volume of risk by evaluating various factors that give rise to risk. Risk is the basis for determining the premium rate also Provide Certainty - Insurance is a device, which helps to change from uncertainty to certainty. Insurance is device whereby the uncertain risks may be made more certain.

The secondary functions of insurance include the following:Prevention of Losses - Insurance cautions individuals and businessmen to adopt suitable device to prevent unfortunate consequences of risk by observing safety instructions; installation of automatic sparkler or alarm systems, etc. Prevention of losses causes lesser payment to the assured by the insurer and this will encourage for more savings by way of premium. Reduced rate of premiums stimulate for more business and better protection to the insured. Small capital to cover larger risks - Insurance relieves the businessmen from security investments, by paying small amount of premium against larger risks and uncertainty.

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Contributes towards the development of larger industries - Insurance provides development opportunity to those larger industries having more risks in their setting up. Even the financial institutions may be prepared to give credit to sick industrial units which have insured their assets including plant and machinery.

Brief History of the Insurance Sector in India

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. Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil. All the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and these companies were not insuring Indian natives. Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870, and covered Indian lives at normal rates.

The Insurance Regulatory and Development Authority (IRDA)

The Insurance Act, 1938 had provided for setting up of the Controller of Insurance to act as a strong and powerful supervisory and regulatory authority for insurance. Post nationalization, the role of Controller of Insurance diminished considerably in significance since the Government owned the insurance companies.

The Insurance Regulatory and Development Authority Act, 1999 is an act to provide for the establishment of an Authority to protect the interests of holders of insurance policies, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto and further to amend the Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and the General insurance Business (Nationalization) Act, 1972 to end the monopoly of the Life Insurance Corporation of

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India (for life insurance business) and General Insurance Corporation and its subsidiaries (for general insurance business).


Insurance directly or indirectly plays a vital role in the economic development of the country through the following means: Life insurance is a major instrument in mobilizing the savings of the people. These savings are channeled into investments for economic groups. The strength of life insurance is in the fact that huge amounts are collected and pooled together for the benefit of the policy holders. The insurance company is in the role of fiduciary- that all decision be made for the benefit of the community.

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Sandeep Ghosh is the Chief Executive Officer at Bharti AXA Life Insurance.

He has over 20 years of experience in India and overseas, primarily in the financial services sector. Prior to joining Bharti AXA Life, he was with ANZ as the Managing Director, Commercial Banking Head for Asia Pacific based in Hong Kong. During this time, he played a major role in building a commercial banking franchise for ANZ in Asia through organic builds and the integration of businesses acquired from RBS. Before joining ANZ, Sandeep spearheaded the Commercial Banking for Royal Bank of Scotland in Asia. He was responsible for Business Banking, SME & Middle Market client franchises, managing a team of over 1,000 bankers and 40,000 client relationships across 9 countries. Prior to this, he was with Citibank for 9 years during which he held various roles, lastly as Managing Director for the Global Commercial Bank in India. During his tenure, he led the India business to become the largest organically built commercial banking franchise within Citi. Jyoti Punja is the Chief Operating Officer (COO) of Bharti AXA Life Insurance Co. Ltd. In her current role, she is responsible for Pan India Operations, Information Technology, Customer & Persistency Management and Business Excellence. Jyoti has been associated with the Bharti AXA Life since 2005. As one of the founding members, she has been responsible for design and implementation of the servicing strategy, underwriting & quality nomenclatures, claims management, operations model and technology deployment to support customers and distributors. Prior to joining Bharti AXA Life, Jyoti was associated with Birla Sun Life for 5 years as Head- Client Services. She joined Birla Sunlife as a part of the startup team and managed operations and service for individual & group Life business. Jyoti started her career with Life Insurance Corporation of India (LIC) as a Direct Recruit Officer and during her tenure, handled diverse roles including operations, sales, underwriting and claims. Saujanya Shrivastava is the Chief Marketing Officer at Bharti AXA Life Insurance. He has over 14 years of experience in Sales & Marketing across sectors such as FMCG, Financial Services, Ecommerce and Retail.

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Prior to joining Bharti AXA Life, he was with Future Group as the Senior Vice President Sales & Marketing for their ecommerce business. He led a young and vibrant team at that played a pivotal role in developing the ecommerce business including internet, telesales, catalogue sales and institutional vertical. Saujanya Shrivastava is the Chief Marketing Officer at Bharti AXA Life Insurance. He has over 14 years of experience in Sales & Marketing across sectors such as FMCG, Financial Services, Ecommerce and Retail. Prior to joining Bharti AXA Life, he was with Future Group as the Senior Vice President Sales & Marketing for their ecommerce business. He led a young and vibrant team at that played a pivotal role in developing the ecommerce business including internet, telesales, catalogue sales and institutional vertical. Before joining Future Group, Saujanya was Vice President Marketing at PepsiCo India. He was the custodian for Brand Pepsi and held responsibilities for thematic advertising development, new product innovation, cricket platform activation and diet cola category growth. He launched the Pepsi My Can in India an innovation that was an industry first. Saujanya has also worked at Citibank N.A. where he held the role of Assistant Vice President - Credit Card Marketing & Research. In this capacity, he held responsibility for Brand Strategy, research & insights and implementation of Brand initiatives. Prior to that, Saujanya has worked with Cadbury India. At Cadbury, Saujanya has been credited with significant contributions in developing the Marketing Package for premium range of chocolates and successful re-launch of the leading brand Cadbury Dairy Milk. His initiatives took Cadbury Dairy Milk at its all time highest Value Market Share. Saujanya holds a Masters in Business Administration (PGDBM) from Indian Institute of Management, Calcutta and has a Bachelors degree in Economics Honors from Jadavpur University, Calcutta. Mr. Venkatasubramanian is the Chief and Appointed Actuary at Bharti AXA Life Insurance. At Bharti AXA Life, he is responsible for product pricing, statutory reporting and Regional office reporting. Mr. Venkatasubramanian joined Bharti AXA Life Insurance in 2010 from ACE Life, Sharjah (UAE) where he was the Regional Chief Actuary (Middle East, Africa). At ACE Life, he managed the actuarial function for the entire region. Mr. Venkatasubramanian has long and varied experience in the life insurance industry in sales, actuarial and managerial positions and is well versed with the Indian market realities. He started his career with LIC and for the next 24 years, donned numerous roles Page 19 of 80

and responsibilities. He subsequently moved on to be a Pensions Actuary with Old Mutual (Zimbabwe). He then joined NTUC INCOME, a large composite insurer in Singapore as their Appointed Actuary. He also worked in the same position with ING Vysya Life and Kotak Mahindra Old Mutual Life in succession. V Srinivasan is currently the Chief Financial Officer of Bharti AXA Life Insurance Company. 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. With over 8 years of rich experience in the Life Insurance industry, today, he stands as a storehouse of financial knowledge and expertise. His portfolio also boasts of extensive experience in diverse industrial segments like manufacturing and oil & gas.

From April 1996 to February 2002, he has handled Corporate Finance and Tax at Cairn Energy India Pvt Ltd. He has held responsibilities in Accounting and Project Reporting at Kentz, Kuwait, Reliance and SRF Ltd. He has also functioned as the Senior Vice President - Corporate Affairs at ICICI Prudential Life Insurance Company and CFO of AMP Samar Life Insurance Company from February 2002 to December 2005. Sushanto Mukherjee is the Chief Distribution Officer for Bharti AXA Life Insurance Company Ltd. Prior to this, he was Director & Head Partnership Distribution & Group Business at Max New York Life Insurance Co. Ltd. He started his career with ITC-Welcome group hotels division in 1989. He has subsequently worked in various reputed organizations such as Xerox; Reliance Infocomm & Tata AIG in senior positions managing sales at Zonal & National Levels.Sushanto has over 21 years of experience across Insurance, Telecom, Hospitality and Office Automation.

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He has a strong background in developing & managing partnership channels in Life Insurance, managing large teams in Retail Distribution and effectively leading direct sales teams in the Corporate Segment. He is an MBA from Cardiff Business School United Kingdom. S Deshpande is the Chief Human Resource Officer at Bharti AXA Life.He is a Post-graduate in Human Resources Management from TISS (class of 1982). In a career spanning over 25 years he has wide range of experience with the Manufacturing sector in Healthcare and FMCG segments and financial services, and ITES in the services sector. Ulhas started his career with Glaxo and then moved on to Novartis and Parke -Davis in senior HR leadership roles and held a Head HR position for over 15 years. Thereafter he was the HR Head at IDBI bank. After having spent 2 decades in dealing with the breadth and depth of all aspects of Human Resources, the entrepreneurial bug within him enticed him to start a venture of his own. Along with four other partners he co-founded Adventity Global Services financial services Outsourcing Company in the year 2003 with venture funding where he was the COO of the company till 2009.His last stint was with RPG enterprises as Sr. VP HR for the Tyre sector. He is a charter member of TIE (The global not for profit that helps foster entrepreneurship). Coaching and mentoring young managers and Leadership development is a key area of interest.

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INTRODUCTION TO COMPANY Bharti AXA Life Insurance Company Ltd.

Bharti AXA Life Insurance is a joint venture between Bharti, one of Indias leading business groups with interests in telecom, agri business and retail, and AXA, world leader in financial protection and wealth management. The joint venture company has a 74% stake from Bharti and 26% stake of AXA. 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 AXA Life will offer the right financial solutions to help you achieve them that Bharti.

Bharti Group

Bharti Airtel Ltd

Bharti Airtel Ltd is one of Asia's leading telecommunications service provider. The Company is Indias largest integrated telecom company in terms of customer base and offers Mobile Services, Fixed Line services, Broadband & IPTV, DTH, Long Distance and Enterprise services. Airtel also offers mobile services in Sri Lanka on a state-of-the art 3.5 G network.

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Bharti TeleTech Ltd Bharti Teletech is Indias leading telecom & allied Products Company. It is one of the largest manufacturers of landline telephones in the world. With a strong distribution network across the country, the company is also the primary distributor of IT and Telecom products from international brands such as Motorola, Blackberry, Thomson, Polycot, Transcend, and Logitech.

Telecom Seychelles Ltd A subsidiary of Bharti, Telecom Seychelles Ltd provides comprehensive telecom services including 3G mobile services in Seychelles, under the Airtel brand. Comviva Technologies Ltd Comviva is the leading provider of integrated VAS solutions for mobile operators in emerging markets. Among the top 3 global providers of integrated VAS solutions in rapidly growing markets, Comviva has deployed solutions for over 100 mobile operator customers in over 80 countries worldwide.

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

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

Bharti AXA General Insurance Company Bharti AXA General Insurance is a joint venture between Bharti Enterprises and AXA, world leader in financial protection and wealth management. The company was incorporated in July 2007 and offers a full suite of general insurance solutions to meet the needs of businesses and individuals alike.

Bharti AXA General Insurance Company Bharti AXA General Insurance is a joint venture between Bharti Enterprises and AXA, world leader in financial protection and wealth management. The company was incorporated in July 2007 and offers a full suite of general insurance solutions to meet the needs of businesses and individuals alike.

Bharti AXA Life Insurance Company Bharti AXA Life Insurance Company Ltd is a joint venture between Bharti Enterprises and AXA, world leader in financial protection and wealth management. The company offers a range of life insurance and wealth management products with an endeavor to help customers lead a confident life.

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Bharti AXA Investment Managers Pvt. Ltd. Bharti AXA Investment Managers Pvt. Ltd., an asset management company in India, is a joint venture between Bharti Enterprises, AXA Investment Managers (AXA IM) and AXA Asia Pacific Holdings (AXA APH).

Centum Learning Limited Centum Learning Limited provides end-to-end learning and skill-building solutions to several large corporates. It provides solutions that impact business performance through enhanced employee productivity, customer profitability and effective talent transformation.

Jersey Airtel Ltd Jersey Airtel, a subsidiary of Bharti, offers world-class mobile services in Jersey (Channel Islands) over its full 2G, 3G and HSDPA enhanced network. The Company brings market-leading products and services to its customers under Airtel-Vodafone brand.

Bharti Foundation Bharti Foundation was set up in 2000, with the vision, To help underprivileged children and young people of our country realize their potential. It aims to create and support programs that bring about sustainable changes through education and the use of technology and information.

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Bharti Realty Bharti Realty Limited is a young, vibrant and dynamic realty company with expanding interests in commercial, retail and residential real estate. Bharti Realty aims to be amongst the most admired real estate players in India and aspires to attain highest degree of customer trust through superior product design and maintaining an uncompromising stand towards environmental responsibility, ethics and safety

Bharti Infratel Bharti Infratel, a wholly owned subsidiary of Bharti Airtel, provides passive infrastructure services on a non-discriminatory basis to all telecom operators in India. Bharti Infratel also holds approximately 42% stake in Indus Towers, a joint venture between Bharti, Vodafone and Idea to offer passive infrastructure services. Bharti Enterprises Bharti Airtel Ltd: Bharti Airtel Ltd is Indias leading provider of telecommunications service. The company has 4 distinct Business divisions- mobile and telephone services, broadband services, long distance services and enterprise services, Bharti Teletech Ltd Bharti Teletech Ltd manufactures and exports world-class telecom equipment under the brand Beetel.

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

Bharti AXA Life Insurance Page 26 of 80

Bharti AXA Life Insurance is a joint venture between Bharti, one of Indias leading business groups with interests in telecom, agri business and retail, and AXA, world leader in financial protection and wealth management. The joint venture company has a 74% stake from Bharti and 26%stake of AXA. Bharti Telesoft Ltd Bharti Telesoft Ltd delivers best-in-class, Revenue-critical Vas products and service to telecom carriers, Tele Tech Service Ltd Tele Tech Service (India) Ltd is Joint venture with Tele Tech Inc., U.S.A. It offers a range of Customer Management Services.

Field Fresh Foods Pvt Ltd Field Fresh Foods Pvt Ltd is Bhartis Venture with EL Rothschild Group owned ELRO holding India Ltd., to export fresh Agricultural products exclusively to markets in Europe and USA.

AXA AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with major operations in Western Europe, North America and the Asia/Pacific area. AXA had Euro 1,315 billion in assets under management as of December 31, 2006. For full year 2006, IFRS revenues amounted to Euro 79 billion, IFRS underlying earnings amounted to Euro 4,010 million and IFRS adjusted earnings to Euro 5,140 million. The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. The AXA American Depository Share is also listed on the NYSE under the ticker symbol AXA.

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AXA Asia Pacific Holdings AXA Asia Pacific Holdings Ltd (AXA APH) is listed on the Australian stock exchange and is 52.3% owned by AXA SA. AXA APH is responsible for AXA SAs life insurance and wealth management businesses in the Asia-Pacific region. It has operations in Australia, New Zealand, Hong Kong, Singapore, Indonesia, Philippines, Thailand, China, India and Malaysia. AXA APH had A$106.4 billion in total funds under management and administration at 30 June 2007 and reported a profit after tax before non-recurring items of A$374.0 million for the six months ended 30 June 2007.

Products of Bharti-AXA Life Insurance

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Guaranteed Monthly Income which is Tax Free:You start receiving Guaranteed Monthly Income after the completion of the Premium Payment Term, until maturity, provided the policy is in force. This income is tax-free. You have the flexibility to choose the Monthly Income you wish to receive, which decides your premium amount.Subject to the prevailing provisions of Section 10 (10D) of the Income-Tax Act, 1961. Family Income Support Benefit: (Life Insurance Benefit): In case of the unfortunate death of the Life Insured, Monthly Income is payable to the nominee from the next policy month onwards and continues for the next 8 or 15 years depending on the policy term option chosen at inception of the policy. This payout is made over and above the Monthly Income payouts made before the death of the Life Insured.The accrued Annual Reversionary Bonuses (if declared) are paid out immediately on death as a lump sum. Potential Upside through Bonuses: You receive Annual Reversionary Bonus, if declared, on maturity or death.Tax benefits for premiums paid and benefits received, are as per the prevailing tax laws which are subject to changes.

Limited Pay Options: You have the flexibility to choose your policy term from 3 options. The corresponding Premium Payment Term and Monthly Income Benefit Period for each policy term are as below: Policy Term Premium Payment Term Monthly Income Benefit Period* (in months) 15 years 7 years 8 years (96 months) 25 years 10 years 15 years (180 months) 30 years 15 years 15 years (180 months) *The Monthly Income commences after the Premium Payment Term or death of the Life Insured, whichever is earlier. Maturity Benefit: At maturity, you receive Annual Reversionary Bonus, if declared. Annual Reversionary Bonuses: This policy participates in the performance of the participating insurance fund and surplus (if any) is distributed as bonuses. The actual bonus rate declared by the Company is dependent on the performance of the participating insurance fund. This policy is not eligible for any bonuses during the first three policy years. Bonuses (if declared) are vested from end of 4th policy year onwards and are payable on Maturity or death, whichever is earlier for policies in force. These bonuses are declared on simple interest basis as a percentage of the Death Benefit. The Death Benefit is the monthly income which will be payable for 96 months for a policy benefit period of 15 years and 180 months for policy benefit period of 25 and 30 years.

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The policy includes 13 critical illnesses that are split into 3 groups. Should one have the misfortune of being diagnosed with any critical illness from these groups, the first claim could be made and the policyholder will still be eligible for a second and third claim from the other two groups in the future years. For each claim, you are eligible to receive the full Sum Assured opted for by you irrespective of whether it is the first, second or third claim. Critical illness cover continues even after a claim
For Group A ,Group B, Group C-100% Sum Assured Heart Attack Coma Cancer Coronary Artery Bypass Multiple Sclerosis Benign Brain Tumour Graft Surgery Major Organ Transplant Major Organ Transplant Major Organ Transplant (Kidney or Heart) (Liver or Lung) (Bone Marrow) Renal (Kidney) Failure Heart Valve Surgery Stroke Paralysis

Sum Assured on critical illness
If you, as the Life Insured, encounter a critical illness, anytime during the policy term of 15 years, 100% of the Sum Assured will be payable to you.

Claim for up to a maximum of three times

Even after you have made your first claim, your critical illness cover continues and you are eligible to make up to 2 more claims for unrelated illnesses (For more details, refer section: How does this Policy work?) The critical illness benefit payout is as follows: Once you have made the first claim, all your future premiums are waived off. Bharti AXA Life will pay all the future premiums on your behalf and take the responsibility to keep your Policy cover in force until maturity.
Covered Event Payments First Critical Illness 100% of Sum Assured. Future premium payments towards the Policy are waived off. Second Critical Illness 100% of Sum Assured if event is not included in the same group for which compensation was paid at the first critical illness event. Third Critical Illness 100% of Sum Assured if event is not included in the same groups for which compensations were paid at the first and second critical illness event.

Waiver of Premium

Premiums waived after the first claim

(Available only if you have chosen With Return of Premium option) If you have not made any critical illness claim, then at maturity we will return an amount equal to 15 times the first years premium. The Policy term is 15 years.

Maturity Benefit

Death Benefit

(Available only if you have chosen With Return of Premium option) In case no critical illness claim has been made and in the unfortunate event of death of the Life Insured, the death benefit equal to the first years premium multiplied by number of completed Policy years until the date of death is paid to the nominee.

Tax Benefits

You may avail of tax benefits under Section 80D for the premiums paid towards health insurance and under Section 80C for the premiums paid

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towards death benefits, if applicable. The tax benefits are subject to change as per change in Tax laws from time to time. Service tax and Education cess will be levied as per prevailing tax laws. .

Eligibility criteria

We would want you to pay premiums regularly until maturity to get maximum benefits under the Policy. However, incase you are not able to pay all premiums as per your selected plan option and want to exit the Policy earlier then only Surrender Value will be payable to you. This benefit is available only under With Return of Premium option.

Surrender Value

Your Policy will acquire Surrender Value only if three annual premiums are paid, provided no claim has been made under the Policy. At any point in time, the Surrender Value is equal to 30% of all the premiums paid until that date, excluding the first years premium and any extra premium paid under this Policy. Surrender shall terminate all rights and benefits under the Policy.

Parameter Eligibility Criteria

Policy Term 15 years Premium Payment Term 15 years Minimum Age at Entry 18 years Maximum Age at Entry 50 years Maximum Age at Maturity 65 years Minimum Sum Assured 2,00,000 Maximum Sum Assured 30,00,000 Premium Payment Modes Annual, Semi-Annual, Quarterly* & Monthly*


AXA Life will offer the right financial solutions to help you achieve them. Life is dynamic in nature and as time progresses, it brings increased responsibility for you to manage. This increase in responsibility is marked with incidences of certain key milestones that add new dimensions to your life. The most important junctures in your life are when you get married and when there is birth of a child in the family. Finally, your retirement brings with it the need for a substantial corpus of savings to enjoy a peaceful life thereafter. To fulfill all your responsibilities, you would want to keep pace with the changing needs at every step of life, be it protection for your family or savings for the future.

Protection till age 60 This Policy covers you up to age 60 including the key years when you need to ensure adequate protection for your family members. Flexi Cover This feature provides you the flexibility to determine the appropriate protection level for key life stages. At key milestones in your life, this feature increases your Sum Assured to account for the added responsibilities in your life. Page 32 of 80

Good Times Money Back Along with the increase in your protection cover, at key milestones of your life such as marriage and child birth, you may opt to receive lump sum payouts to help you meet any expenses that may arise during each of these events. This benefit is available only twice during the Policy Term. The Good Times Money Back amounts to at least 10% of base Sum Assured starting from fourth year onwards, and the percentage increases every year thereafter if not availed then. Get additional cover without any medical tests You will be underwritten with a medical test (if applicable) only once when you apply for the Policy. So, when you increase your life cover at key milestones of your life, you do not need to undergo any further medical tests, thus saving you from hassles. Money Back at key milestones such as marriage and child birth Assured Protection Benefit You can further enhance the security for your childs future by opting for the Assured Protection Benefit at the time of your childs birth or at any milestone chosen by you. With this facility, in case of an unfortunate event of death, all the future premiums of Bharti AXA Life Young India Plan are waived off and Bharti AXA Life would pay them on your behalf. Maturity Benefit When you turn 60, you will receive 200% of base Sum Assured plus accrued bonuses, if any, which you can use for fulfilling your needs at age 60, such as buying a house, planning for your retirement and so on. Bonuses Since this is a participating traditional Policy, it will accrue Simple Reversionary Bonuses (if declared), which are payable at maturity/death as applicable. Tax Benefits Tax benefits for all premiums you pay as well as the benefits you receive are as per the prevailing tax laws. Bharti AXA Life Young India Plan is a regular premium, traditional participating plan for young Indians, providing protection till age 60.

You may choose a premium payment term of 10 years or 15 years at inception and your coverage under the Policy will continue until you reach the age of 100 years. The Sum Assured is paid at maturity or in case of the unfortunate death of the Life Insured during the Policy term This plan assures guaranteed payouts until you reach the age of 100 years. Once you complete the 10th Policy year, you will start receiving an annual payout of 5.5% of the Sum Assured until maturity or death, whichever is earlier.

Lifelong Protection with Limited Pay Period:

Guaranteed Payouts:

Cash Bonuses:

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This Policy also offers cash bonuses (if declared). It participates in the performance of the participating insurance fund and surplus (if declared) is distributed as bonus. This bonus (if declared) is paid out as a cash benefit every year, starting from the end of 6th Policy year, until maturity or death, whichever is earlier. You will be eligible to receive a discount on your premium rate if you opt for a Sum Assured of 4,00,000 or more. prevailing tax laws.

Discounts on opting for a Higher Sum Assured:

Tax Benefits for premiums paid as well as benefits received are as per

Guaranteed Payout starts from the end of 10th year onwards until the age of 100 years if the policy is still in force

How does the Product work?

Product at a glance
Parameter Eligibility Criteria Minimum age at entry 91 days Maximum age at entry 60 years Maximum Age at Maturity 100 years Premium Payment term options available 10 years & 15 years Minimum Sum Assured (Rs.) 1,00,000 Maximum Sum Assured (Rs.) No Limit, subject to underwriting Minimum Premium (Rs.) Premium Payment term: 10 years 15,379 for annual mode 7,997for semi- annual mode 4,152 for quarterly mode 13,84 for monthly mode Premium Payment term: 15 years 9,100 for annual mode 4,732 for semi- annual mode 2,457 for quarterly mode 819 for monthly mode Premium Payment Modes Annual, semi- annual, quarterly* & monthly*


In this Policy, the investment risk in the investment portfolio is borne by the policyholder. You put in efforts to make sure that your family is well protected and always gets the best. Why should your insurance plan not invest majority of the money that you put in towards securing your familys future?

Limited Premium Payment: Zero Allocation Charge:
The benefits of this Policy accrue to you for 10 years while you pay premiums only for the initial 5 years. With this plan, you are not charged for premium allocation.

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In-built Accidental Death Benefit:

In case of an unfortunate death by accident, the nominee receives an additional Sum Assured equal to the base Sum Assured (only available for Life Insurance Benefit Option B). Kindly refer to the Life Insurance Benefit section for more details. You may choose from an array of 6 funds. Take advantage of staying invested in the funds for an extended period of 5 years after maturity.

Fund Options: Extendable Investment Period: Partial Withdrawal Option: Tax Benefits: Life Insurance Benefit Options:

You have the option to avail of the partial withdrawal facility from your policy fund value, after your Policy has completed 5 years. Tax benefits for premiums paid as well as benefits received are as per the prevailing tax laws. You have the flexibility to choose from two Life Insurance Benefit Options as depicted below:
Life Insurance Benefit Option A: Higher of the Fund Value or Sum Assured Life Insurance Benefit Option B: Sum Assured + Fund Value

You have the flexibility to choose from two options of the life insurance benefit as explained in the table below. This benefit is received by the nominee in case of the unfortunate death of the life insured during the Policy benefit period. The Life Insurance Benefit Option can be chosen only at inception of the Policy and cannot be changed during Policy tenure. The Sum Assured will be calculated as per the table below: For Life Insurance Benefit Option B, an additional death benefit equal to the base Sum Assured will be payable in case of death of the life insured due to an accident. The fund value as on the maturity date will be payable.
Life insurance

Life Insurance Benefit:

Maturity Benefit:

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The Joint Venture BHARTI and AXA


Bharti Enterprises is one of Indias leading business groups with interests in telecom, agro business, insurance and retail. Bharti has been a pioneering force in the telecom sector with many firsts and innovations to its credit. Bharti Airtel Limited, a group company, is one of Indias leading private sector providers of telecommunications services with an aggregate of 60 million customers, spanning mobile, fixed line, broadband and enterprise services. Bharti Airtel was ranked amongst the best performing companies in the world in the Business Week IT 100 list 2007. Bharti Teletech is the countrys largest manufacturer and exporter of telephone terminals. AXA Group AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with major operations in Western Europe, North America and the Asia/Pacific area. AXA had Euro 1,315 billion in assets under management as of December 31, 2006. For full year 2006, IFRS revenues amounted to Euro 79 billion, IFRS underlying earnings amounted to Euro 4,010 million and IFRS adjusted earnings to Euro 5,140 million.

Bharti AXA Life Insurance

To be a leader and the preferred company for financial protection and wealth management in India

Professionalism Innovation Page 36 of 80

Team Spirit Pragmatism Integrity Professionalism:-A professional is a collegial discipline that regulates itself by means of mandatory, systematic training. It has a base in a body of technical and specialized knowledge that it both teaches and advances it sets and enforces its own standards and it has a service rather than a profit orientation, enshrined in a code of ethics.

Innovation: - Innovation is generally understood as the successful introduction of a new thing or method. Innovation is the embodiment, combination, or synthesis of knowledge in original, relevant, valued new products, processes, or services. Team Spirit :-team spirit is the spirit of a group that makes the members want the group to succeed Pragmatism:-Pragmatism is the philosophy of considering practical

consequences and real effects to be vital components of meaning and truth.

Integrity: - Integrity is consistency of actions, values, methods, measures, principles, expectations and outcome. As a holistic concept, it judges the quality of a system in terms of its ability to achieve its own goals.

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Innovati on Profession alism VALUE OF BHARTI AXA LIFE Pragmatis m

Team Spirit Integrity


To achieve a top 5 market position in India through a multi-distribution, multiproduct platform To adapt AXA's best practice blueprints as a sound platform for profitable growth To leverage Bharti's local knowledge, infrastructure and customer base To deliver high levels of shareholder return To build long term value with our business partners by enhancing the proposition to their customers To be the employer of choice to attract and retain the best talent in India To be recognized as being close and qualified by our customers

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Life Insurance Corporation of India (LIC)

Life Insurance Corporation of India (LIC) was established on 1 September 1956 to spread the message of life insurance in the country and mobilise peoples savings for nationbuilding activities. LIC with its central office in Mumbai and seven zonal offices at Mumbai, Calcutta, Delhi, Chennai, Hyderabad, Kanpur and Bhopal, operates through 100 divisional offices in important cities and 2,048 branch offices. LIC has 5.59 lakh active agents spread over the country. The Corporation also transacts business abroad and has offices in Fiji, Mauritius and United Kingdom. LIC is associated with joint ventures abroad in the field of insurance, namely, Ken-India Assurance Company Limited, Nairobi; United Oriental Assurance Company Limited, Kuala Lumpur; and Life Insurance Corporation (International), E.C. Bahrain. It has also entered into an agreement with the Sun Life (UK) for marketing unit linked life insurance and pension policies in U.K. Page 40 of 80

IN ADDITION TO ABOVE STATE INSURERS THE FOLLOWING HAVE BEEN PERMITTED TO ENTER INTO INSURANCE BUSINESS: The introduction of private players in the industry has added to the colors in the dull industry. The initiatives taken by the private players are very competitive and have given immense competition to the on time monopoly of the market LIC. The market share was distributed among the private players. Though LIC still holds the 75% of the insurance sector but the upcoming natures of these private players are enough to give more competition to LIC in the near future. LIC market share has decreased from 95% (200203) to 70 %( 2007-08).

List of Insurance Companies Listed in Different Years

List of Life Insurance Companies

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S.No. Registration Date of Reg. Number 1 101 23.10.2000 2 104 15.11.2000 3 105 24.11.2000 4 107 10.01.2001 5 109 31.01.2001 6 110 12.02.2001 7 111 30.03.2001 8 114 02.08.2001 9 116 03.08.2001 10 117 06.08.2001 11 133 04.09.2007 12 135 19.12.2007

Name of the Company HDFC Standard Life Insurance Company Ltd. Max New York Life Insurance Co. Ltd. ICICI Prudential Life Insurance Company Ltd. Kotak Mahindra Old Mutual Life Insurance Limited Birla Sun Life Insurance Company Ltd. Tata AIG Life Insurance Company Ltd. SBI Life Insurance Company Limited . ING Vysya Life Insurance Company Private Limited Bajaj Allianz Life Insurance Company Limited Metlife India Insurance Company Ltd. Future Generali India Life Insurance Company Limited IDBI Fortis Life Insurance Company Ltd.

13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

102 103 106 108 113 115 131 132 134 121 122 127 128 130 133 135 136 138 140

23.10.2000 23.10.2000 04.12.2000 22.01.2001 02.05.2001 03.08.2001 03.08.2007 04.09.2007 16.11.2007 03.01.2002 14.05.2002 06.02.2004 17.11.2005 14.07.2006 04.09.2007 19.12.2007 08.05.2008 27.06.2008 27.06.2008

Royal Sundaram Alliance Insurance Company Limited Reliance General Insurance Company Limited. IFFCO Tokio General Insurance Co. Ltd TATA AIG General Insurance Company Ltd. Bajaj Allianz General Insurance Company Limited ICICI Lombard General Insurance Company Limited. Apollo DKV Insurance Company Limited Future Generali India Insurance Company Limited Universal Sompo General Insurance Company Ltd. Reliance Life Insurance company Ltd. Aviva Life Insurance Co. India Pvt. Ltd. Sahara India Insurance Company Ltd. Shriram Life Insurance Company Ltd. Bharti AXA Life Insurance Company Ltd. Future general Indai life Insurance Co.Ltd IDBI Fortis Life Insurance Company Ltd. Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd. Aegon Religare Life Insurance Company Ltd. DLF Pramerica Life Insurance Company Ltd.

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List of General Insurance Companies

1 2. 3. 1 2

123 124 125 139 141

15.07.2002 27.08.2002 27.08.2002 27.06.2008 15.12.2008

Cholamandalam General Insurance Company Ltd. Export Credit Guarantee Corporation Ltd. HDFC-Chubb General Insurance Co. Ltd. Bharti Axa General Insurance Company Ltd. Raheja QBE General Insurance Co. Ltd

Bharti-AXA perform over following cities

Hyderabad Mumbai Delhi Bangalore Kolkata Chennai Ahmedabad Ludhiana Lucknow Surat Kochi Indoor Chandigarh Vadodra Bhubneshwar Jaipur Mohali

Insurance Products of Bharti AXA

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Individual Plans :
Bharti AXA Life Guarantee Builder Bharti AXA Life Bright Stars

Bharti AXA Life Spot Suraksha Bharti AXA Dream Life Pension Bharti AXA Life AspireLife Bharti AXA Life InvestConfident Bharti AXA Life WealthConfident Bharti AXA Life FutureConfident

Bharti AXA Life FutureConfident II Bharti AXA Life SaveConfident Bharti AXA Life SecureConfident

Group Plans :
Bharti AXA Life - CreditSecure Bharti AXA Life Sanjeevani Bharti AXA Life - Swasthya Sanjeevani Bharti AXA Life - Sanjeevani Bharti AXA Life Mortgage Credit Shield Bharti AXA Life Credit Shield


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1. On The project gave a practical exposure and helps in acquiring the on road skills. 2. First and foremost objective is to recruit financial advisors and to sell the various products of Bharti AXA. 3. To gain the complete knowledge about the products of Bharti AXA life insurance. 4. To generate the leads through the survey. 5. To sort out the prospective leads from the data collection through the survey. 6. To build the relationship with the new customers and to follow up them, make sure that they are satisfied with the product. 7. To maintain good relationship with the corporate employees. 8. To get more references from the customers and generate new leads by following a chain process. 9. To introduce Bharti AXA to those people who dont have any knowledge about Bharti AXA and its products and services. 10. To find out the customer awareness on booming financial market and to find out the investment patterns of the people. 11. To make the customer aware of the benefits of the products from different competitors. 12. On training our objective is to know about the various products of Bharti AXA and its detail benefit that the customer will get. 13. How to convince a customer through the telephone to sell products by following the customer database. 14. If any new product is launched by Bharti AXA then how it will be communicated to exiting customers and all new prospects to become a customers. 15. After all how the claims of the customers will be settled quickly.

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The recruitment process that we have gone through in our Project period
As a project trainee in Bharti AXA Life Insurance Co. I have been assigned the job of recruiting financial advisor. So I have undergone a short-term training by the company and about the recruitment process and the various products of the company. Recruitment refers to the various segment of the society. The life, pension and investment industry has undergone dramatic changes over the past decade. Longer life expectancy and the desire to retire before state pension age have increased public awareness of financial services markets. These changes have created a marketplace where customers are more discerning and regulatory requirements more stringent.

What is a Life Adviser?

A life adviser is a broker or intermediary authorized to sell or advise on the policies of life insurance and financial products, such as unit trusts. Typical examples of companies which employ financial advisers are banks, insurance and life Companies, general brokers, estate agents and building societies. Life Advice is given in the following areas:

Direct sales Tied sales Independent financial advice Banc assurance sales
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Advisers in direct and tied sales are only permitted to sell their own company's products, whereas independent financial advisers (IFAs) sell a variety of different products from different suppliers Professional qualifications A typical career path for a young professional interested in a career in financial advice is to both start on the administration side and move into trainee sales he key messages emanating from industry professionals are as follows: Be flexible and open-minded Be prepared to put in the hours for exams The first few years are long and hard - you must persevere Maintain a sense of humor throughout. After knowing about the Life Advisor let see what is recruitment and various sources of recruitment Recruitment is the process of attracting qualified applicants for a specific job. The process begins when applications are brought in and ends when the same is finished. The result is a pool of applicants, from where the appropriate candidate can be selected.

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The recruitment process flowchart that we have gone through in our project period


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Career with Bharti AXA

Opportunity to earn unlimited income. Career Growth. Be your own boss. High quality training & Support to improve productivity. Compensation amongst the best. Club member benefits. Payout structured to facilitate your cash flows better. Best in class & competitive products. Pension for life.

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Sources of Recruitment
Controlled Uncontrolled

Natural Market Central of Influence Agent gets Agents

Cold Prospecting Placement Consultants Job Ads/Inserts Presentation / Seminar Data Base



Controlled Market
Natural market:
Your family Your friends People at job/business Neighbours

Extended Natural market: The following are sources of names: People know through children. People know through spouse. People know through hobbies/ games. People known through social groups People known through public service. People you do business with. Friends of friends. Page 50 of 80

People with influence and prestige, other member of society believe and faith on them. People who have a big circle of relationships: like secretary in societies, president of an association. People who are known to you and are wiling to help you. People who have contacts with the class of people you want to deals with. People who have faith in your leadership. A centre of influence is a person who is in contact with many people through social, political, religious or business angulations Usually a respected individual with influence over the people with he/she is in contact.

Uncontrolled Sources
Job Ads/Inserts:
This program should be on regular long range basis. Example: Navajeevan sharma who is a relationship officer in bhrati AXA Life Insurance company put an ad in the newspaper, in which he called for the reader to phone him during a specified 2 to 4 hours period on Monday or Sunday morning From those who called Navjeevan Sharma was able to eliminate more misfits (who are not qualified) and arrange for two to six personal visits.

Placement consultants:
MOA can recruit a placement consultant or register him self in internet job search sites to get list of prospects.

Seminars/job fairs:
Manager of agency can also organized seminars at management institutes and colleges


Bharti AXA Life Insurance Company participates in the job fairs and then short list Page 51 of 80

prospects and then looks for further opportunities for them.

Cold Prospecting:
MOA can use the telephone directory. MOA and telecaller can use the directories of various business and social organizations.

Database :

Primary data:

Direct collection of data of from the source of information, technology including personal interviewing, survey etc.

Secondary Data:

Indirect collection of data from sources can be purchased from the open market and various kind of database are available such as telephone databases of various surveys.

Point to be noted while recruiting the Agents

Mature and responsible family person. Ambitious, hungry for recognition, challenges. Occupation. Experience and current designation. For how many years he is living in the city. Greedy person. Occupation of parent. Family income. Any experience in life insurance sector. Leadership qualities. Social and amiable.

Sources for Recruitment and Selection of Agent used during Training

Natural Market Page 52 of 80 Market Survey

Secondary Data (Telephone Directory)

Telephone Script
Hello sir, I am Paramjit Singh from Bharti AXA. I want your few minute to speak Sir, Bharti AXA is going to expend the Business by recruiting quality people and offering them the potential of a very rewarding career opportunity. We have acquired your business card and we are aware of the company you work for and you are one of the selective person with whom our company want to concern. So I would like to meet you for coffee to explain the exciting and rewarding opportunity. It may have for you in terms of career compensation and support.. (Excellent I look forward to meeting you please May I have your address and I will confirm our meeting in writing) OR (According to your convenience will you please tell me when and where we can meet?) Thank You Sir.

Step 1. Documents Required

Age proof. Address proof. Photo 8. Education proof. Q score sheet. Agency application. Form V A. Fill NAAF. Intermediate Certificate.

Step 2.

Interview section

During the interview the senior manager/MOA asked following question to the candidate to judge his ability and knowledge. Qualification. Present occupation. Number of family member. Household income. Page 53 of 80

Knowledge or experience in insurance sector Tenor of stay in the town. Occupation of parent. If selected then the senior manager/MOA approve the application. The managers take the help of scoring Mechanism. Scoring Mechanism was filled at the time of apply. Age Scoring mechanism Marital status Education Tenor of stay in city/town Household income Total score Q Score: Acceptable Range of Score Additional Approvals Rejected application if Greater than or equal to 7 5 or 6 4 or less Below 25 years 0 Unmarried 1 10th standard or 12th standard 1 Less than 3 years 0 Less than 2 lakhs Between 25-40 2 married 2 graduate 2 3-5 years 1 2-5 lakhs More than 40 1 Score

Post graduate 2 More than 5 years 2 More than 5 lakhs

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

Step 3.


50 Hours Training and also provide a text book (IC-33 life insurance) for pre-recruitment Examination for Life Insurance Agents, which is based on syllabus prescribed by insurance Regulatory & Development Authority. IRDA for short, has laid down that those who wish to become insurance agents will be given licenses only after they complete a course of study, training and pass an examination prescribed by it. During this training the knowledge about the entire essential concept related to life insurance is provided to agent. Insurers will have different practices and offer different benefits in their plans. All of them will be based on these concepts. The details of the practices and the plans of each insurer will have to be learnt from the respective insures.

Step 4. During training following things will be teaches.

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

Step 5.

Examination and Code

Examination is the second last part of the recruitment and selection process. It include one hour test under, which contain 50 objective questions, one marks each, Pass marks are 25. There are two method of examination. Online Offline In case of online the result is declared on the spot and in the case of manual result is declared within one month. After clearing the exam, ULIP training of two days will be given to the advisor about the product of company and then agency code is generated.

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As we were assigned to recruit life advisors, the very first thing that we required was knowledge about benefits and opportunity because to motivate a prospective candidate to become an Advisor, we need to convenience the Advisor about the opportunity and carrier growth in Bharti AXA. Benefit Commission Renewal Commission Bonus Quarterly gifts ACER club membership facility MDRT Promotion factor for an agent Domestic and International Conventions

Advisor require no capital investment They can chose there own working hour according to there convenience. They are there own boss. Unlimited earning potential Represent a strong trusted brand.


Commission: The commission is generated whenever an agent sells a life insurance to

the customers. The percentage of the commission differs from the type of products the agent sells. The various commissions that are generated from different policy are as follows: Wealth Confident Future Confident 24000 of 10% = 2400 12000 of 22% = 2640

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Save Confident Aspire Life Spot Surakhya Bright Star Dream life Pension Plan

7000 of 22% = 1540 18000 of 31% = 5580 12000 of 24% = 2880 15000 of 30% = 4500 12000 of 7.5% = 900

The promotion factors are as follows: Number of policies- The minimum number of policies an agent should do to be promoted is36. This acts as one of the promotional factor for an agent. Tenure- Tenure is nothing but the time factor an agent is given to achieve his/her target. The different time factors an agent given by MNYL are 12months. OPPORTUNITY Advisor requires no capital investment:- For starting any business we require a huge infrastructure but here in Bharti AXA the Advisors do not require any capital investment other than RS. 825 IRDA examination fees, which is very nominal and on return the Advisors get free phone calling facility, Xerox facility etc. They can choose there own working hour according to there convenience:- Advisor are free to work in there convenient hours because the advisors working here comes from different profession like Doctor, Engineer, Student, Medical Representative, contractor GETTING KNOWLEDGE ABOUT DOING THE SALES CALL Once we had the knowledge of benefits and opportunities of advisor in Bharti AXA life insurance we were given training as to how to go around in the market for making sales call .so were given a lot of idea by our manager Mr. PARAS SINGH .This idea includes market survey, door to door survey, putting around canopy in different prime location of LUCKNOW.

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SEGMENTING THE MARKET A market segment consists of a group of customers who share a similar set of needs and wants. The market does not create the segments; the marketers task is to identify the segments and decide which one to target. And for insurance company we segmented market into following different groups. Geographical region: - we segmented LUCKNOW into five segment i.e; East LUCKNOW, West LUCKNOW, North LUCKNOW, South and Central LUCKNOW. Demographic age: - we segmented the entire population of LUCKNOW into following three categories on the basis of demographic age i.e; 18 to 20 age group, 25 to 40 age groups and above 40. Family life cycle:- we segmented the entire population of LUCKNOW into following three categories on the basis of family life cycle i.e; Single, Married, Retired/VRS Optee. Gender:- :- we segmented the entire population of LUCKNOW into following two categories on the basis of two categories i.e.; Male and Female Income:- :- we segmented the entire population of LUCKNOW into following three categories on the basis income below 2 lakhs,2 to 5 lakes, more than 5 lakes. Occupation:- :- we segmented the entire population of LUCKNOW into following six categories on the basis of there occupation like Student, Government employee, Private Employee, House Wife, Self employed and Unemployed. Education:- :- we segmented the entire population of LUCKNOW into following three categories on the basis of there education which is 10 th or 12th standard, Graduate, Post Graduate and above. Social class:- :- we segmented the entire population of LUCKNOW into following three categories on the basis of social status that is Lower class, Middle class and Upper class. Page 58 of 80

THE MARKET Once the firm has identified its market-segment it looks for Targeting and for insurance company Targeting the most prospective candidate requires segmenting of market into :Needs based Segmentation:- This is the most preferred and positive target segment of insurance company because most positive result comes from this segment targeting, like Extra income need Job need Carrier need PROCESS OF CAPCTURING ELIGIBLE CANDIDATE A- Personal contacts- direct contact Many people known to an agency manager may be worth consideration as potential insurance advisor. Sources of direct contact include personal friends, fellow members of the community, schoolmates; former business associates personal contacts and business contacts of the branch office. (a) PERSONAL ACTIVITY No research is needed for means of introduction. Friends, the new financial advisors known to the recruiter serve as a good source. (b) PERSONAL OBSERVATION This is done by increasing recruiting awareness. This is done in three steps- ask yourself Would this person be a good recruiting prospect? If the answer is yes decide the best method to approach- telephone, letter or face- to-face. Do it. (c)SEMINAR RECRUITING Discuss career opportunities with various groups of people and then select individuals with whom to speak in more details. (d)THE NO LEG RECRUITING SYSTEM

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This includes newspaper, office clients, city directory/office directory/ commerce directory/ fellow pages, statistical bureaus (government and public bodies.

B- Through nominators This means to obtain help from people who have influence over others not known to you. Nominators serve as extra eyes and ears for the branch office. There can be numbers of nominators within an Agency Manager circle of friends, acquaintance, community members, and sales staff is almost limitless. For getting cooperation from the nominators 1 built prestige: personal, of the branch office and of the company 2 give nominators adequate concept of opportunity for the right person 3 invest time and effort necessary to earn prestige and to strengthen relationship C-impersonal recruiting methods The best candidates from impersonal recruitment survive and produce as well as the best candidates from personal recruitment. (a) advertisement- classified ads, display ads, situation wanted ads (b) employment agencies (c) Direct mail

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After complication of market survey each and every survey data is again re entered in ISF (Initial Screening Form) to get a clearer picture of the best among the prospective candidate. This ISF form helps as a data base for company. Processes of ISF are as below:(1) Candidate Name --------------------------------------------------------(2) Corresponding Address ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------(3) Telephone No -----------------------------------------------------------(4) Mobile No ---------------------------------------------------------------(5) Profession ----------------------------------------------------------------(a) Student (b) Housewife (c) Self Employed (d) Service- Govt/Pvt/PSU (e) CA/Tax Consultant/stock brokers (f) Postal Agent/MF Agent/GIC Agent (f) Retired/VRS Opted (6) Scoring Part -------------------------------------------------------------(a) Age:(1) Below 25- 0 (2) Bet 25-40- 2 (3) More Than 40- 1 (b) Marital Status:(1) Unmarried- 1 (2) Married- 2 (c) Education:(1) 10th or 12th Standard- 1 (2) Graduate- 2 (3) PG- 2 (d) Tenor of Stay in City/Town:(1) Less Than 3 Years- 0 (2) 3-5 Years- 1 (3) More Than 5 Years- 2 (e) Household Income:(1) Less Than 2 Laky- 0 (2) 2-5 Laky- 1 (3) More Than 5 Laky- 2 Acceptable Range of Score is Greater Than or Equal 7 Additional approvals 5 or 6 Rejected Application if 4 or Less

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BASIC SHORTLISTING ON THE OF Q SCORE The Qs are 5 different criteria where the candidates are to be analyzed. This Qs are five basic screening question through which the company knows about the candidate interest of work in an insurance company. Q1- The candidate should have been a resident of Bhubaneswar for at least five years. Q2- He/ She should be married. Q3- His/ Her annual income should be at least 1.2 to 1.5 Lakhs. Q4- He/ She should be a graduate. Q5- Minimum age to be eligible for being a life advisor is 25. The significance of Qs A high Q score implies possibility of better performance by the candidate as a life advisor (meaning better revenue generation ability). On an average only a candidate with a score of Q4 or Q5 was interviewed. A low Q score implies lesser possibility of such performance.

CONDUCT AN INTERVIEW In this session of recruitment process the probable adviser is given the idea of the job profile and taken his response. He is also given a general idea of the product and the commission on the product holds. In this whole selection process the prospective candidate is shown the career path in Bharti AXA BOP PRESENTATION Once the prospective candidate is ready for doing the advisory job he is called to office for a BOP (Business Opportunity Presentation) process in this process the prospective advisor is sent to Branch Sales Manager, where the manager tries to know his interest in the insurance sector and in this process he also verifies his certificate and him personally.

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FILLING OF COMPULSORY IRDA /NAAF FORM I. ADVISORS REMUNERATION a. Advisors entitlement to remuneration as an Advisor of Bharti AXA Life Insurance Company limited Shall be established by, While this Agreement is in force: Issuance by Bharti AXA Life Insurance Company Limited of a Life Insurance Policy Bond, subsequent to its acceptance of a proposal endorsed with the name of the Advisor; and Receipt by Bharti AXA life Insurance Company Limited of the required premiums or deposits; and Expiry of the free look period; and Compliance by the Advisor with the terms and conditions of this Agreement in all respects.

II. ADVISORS OBLIGATIONS Without prejudice to the generality of the obligations of the Advisor to Bharti AXA Life Insurance, the Advisor shall: a. Faithfully and diligently promote the business of Bharti AXA Life Insurance; b. Ensure that any representation made and information provided is accurate; c. Act diligently and carefully in providing any advice and ensure that such advice is based on thorough analysis and take into account available alternatives; d. Ensure that any advice is reasonable in view of the customers circumstances;

III. INSURANCE PROPOSALS a. Bharti AXA Life Insurance will only accept proposals which are submitted in the proposal form specified by Bharti AXA Life Insurance. b. Advisor shall ensure that the proposal form completed by each propose for life insurance shall include the details as specified by Bharti Life Insurance. V. COLLECTION AND REMITTANCE OF FUNDS a. Advisor has no authority to collect or accept on behalf of Bharti AXA Life Insurance, any money, securities or other properties, except the initial and renewal premium or deposit payable with or pursuant to a proposal, unless otherwise specifically authorized or requested by Bharti AXA Life insurance in writing. The Advisor shall immediately and in any case within the time stipulated Page 63 of 80

VI INDEMNITY a. Advisor understands that in acting on behalf of Bharti AXA Life Insurance, Advisor shall only be acting in accordance with than statutory provisions and in accordance with the terms of this agreement. VIII. CONFIDENTIALITY Without prejudice to the other express terms and conditions of this Agreement and all and any implied rights of Bharti AXA Life Insurance after the termination of this Agreement, the Advisor shall not: Use for his own benefit or the benefit of any other person; or Disclose to any person; or Through any failure to exercise all due care and diligence, cause or permit any unauthorized disclosure of any trade secrets or confidential information of or relating to Bharti AXA Life Insurance which he may have received, used or obtained during the term of this Agreement. Any such trade secrets and confidential information shall at all times remain the property of Bharti Axe Life Insurance.

X. SUSPENSION If Bharti AXA Life Insurance in its opinion suspects any of the events stated in clause XIII [except Clause XIII (b)(ii)] may have happened, it may at its absolute discretion by notice suspend the operation of this Agreement without giving any reason. XIII.TERMINATION Bharti AXA Life Insurance or the Advisor may terminate this Agreement at any time and without giving any reason for doing so by giving 30 days notice to the other in writing.

THREE DAYS IRDA REFRESHER TRAINING Refresher training is the basic given to the trainee advisors about what is insurance, types of insurance, present scenario of life insurance in India and scope and career growth in insurance with legal ideas related to insurance. As per provisions of IRDA Act for training of life advisors (effective from 31st October 2004).

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The applicant shall have to undergo at least 100 hours practical training in life or general insurance business which may be spread over three to four weeks, where such applicant is seeking license for the first time to act as an insurance agent.

ii. iii. iv. v.

The training duration should be minimum 18 working days excluding Sundays and holidays. faculty is that of the Institute. The Institute should conduct the training on its own premises or hired premises with proper infrastructure. No marketing fee/consultancy fee payment is permitted for getting the training batches..
On successful completion of training the candidates get COT i.e. the Completion of Training Certificate by Bharti AXA.

i. ii. Syllabus: the syllabus prescribed by the authority for life insurance agents is given in annexure 6. Pattern of examination: normally objective type multiple choice questions are asked. A candidate is required to indicate the correct alternative. A candidate is required to secure at least 50% marks to be declared successful. iii. iv. v. Mode of examination: The test can be taken up in either of the two modesonline or offline Admission card: No candidate will be allowed to appear for the examination unless he/ she produce the admission card. Sample questions: a list of sample questions is given as annexure.

TWO DAYS PRODUCT TRAINING Product training is the final dressing of an advisor. Once the advisor qualifies the IRDA exam he is sent to next stage of enrichment where he is given product training .

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Meaning of methodology o Sample, o Types of data o Data collection method

REASEARCH METHDOLOGY Research methodology is a way to systematically solve the research problem. It may be understood as a science of studying how research is done. We can say that research methodology has many dimensions and research methods do constitute a part of the research methodology. Knowledge of research methodology plays a key role in project work. It consists of series of actions or steps necessary to effectively carry out research and the desired sequencing of these steps. Data Collection Method Data can be collected by Primary as well as secondary method. Primary Data Sources Primary data were collected through a well structured questionnaire designed separately for consumers. A pilot survey was conducted to test the utility of the questionnaire and necessary changes being made. Questionnaire Designed: Questionnaire was used for the survey.

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Secondary Data Sources The secondary data sources were collected from the company manuals, handbooks, and management books and are edited to suite the purpose. RESEARCH DESIGN Exploratory type of research designs adopted because sources of information are relatively few and the purpose is merely to find and to understand the possible actions. The major purposes of exploratory study are: Identification of problem The precise formulation of problems including the identification of variables Formulation of alternative course of action This questionnaire formed the basis for the views on each of the points raised in the questionnaire. The data thus obtained formed the basis of information regarding the existing recruitment and selection processes at BHARTI AXA LIFE INSURANCE COMPANY LTD.. and the same is analyzed and interference is drawn regarding the various aspects of recruitment and the entire process of selection at BHARTI AXA LIFE INSURANCE COMPANY LTD.. Sample Design Sampling technique: Sampling Plans The sampling plan consists of sampling units, e.g. from functional departments namely Marketing, Commercial, Technical and Human Resource. Sample size: total sample size is 178individual customers, out of which only 163are valid and 15 are invalid because the data provided by customer is not sufficient for Research. Sample procedure: Random sampling Page 67 of 80

Sample area: LUCKNOW the area covered is GOMTI NAGAR,HAZRATGANJ,BHOOT NATH,GOLE MARKET because in this particular area there are so many public and private institutions are available. Analysis Data collected from the survey through systematically framed questionnaires and those are being analyzed and shown in graphical representation.

Objectives of the study

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

Analysis 1 Age of respondents: The following is the distribution of age of the respondents
Age Numbers of Individual <25 Years 10 25-30 years 15 31-40 years 15 >40 years 10

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20 15 10 5 0 < 20 years 10


15 10

25-30 years

31-40 years Num ber of individual

> 40 years

47.3% of the total sample size comes from 20-25 age groups Where individual less than 20 and more than 35years is 11.4% Interpretation: The majority of interest during the survey was shown from the age group 20-25 years Analysis 2: Years presence in the LUCKNOW
Years Nnmber of individual

Less than 3 4

More than 3 46

46 50 0 4

No. of individual

The people belonging from below 3years present in LUCKNOW mainly come from student community Where as 11-20 years and more than that were the most perfect candidates for insurance company. Interpretation: Though the interest was shown by candidates belonging from age group present between 3-5 years but the majority conversion rate were from people coming from age 6-25 years. Analysis 3: Occupation of individuals surveyed
Govt. Employee 1 Pvt. Employee 25 Students 6 Proprietor 6 Others 12

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Govt. Em ployee 2%

Others 24%

Proprietor 12% Student 12%

Pvt. Em ployee 50%

Here in this chart it shows that maximum numbers of people surveyed come from Pvt.Employee and other community. Interpretation: Sample which has been surveyed is dominated by younger individual like student and recently joined private employee. Analysis 4: Qualification of individuals
Qualification No. of individual
30 25 20 15 10 5 0 Interm ideate graduate P.G. graduate, 15 Interm ideate, 10 P.G., 25

Intermediate 10

Graduate 15

P.G. 25

Interpretation: - The majority people surveyed came form graduate and post graduate groups and they fulfils our requirement. Analysis 5: Biggest concern for future Child Marriage Child Education Retirement Medical Illness Page 70 of 80

33 35 30 25 20 15 10 5 0



12 2 3

No. of individual

Interpretation:- Different individuals had different concerns and Child Education was most preffered among the four options.

Analysis 6: were they prepared for there future planning

Result No. of individual YES 34 NO 16




Interpretation: - From above data we can derive that majority were prepared for future planning. Analysis 7: Interested for extra income

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NO 32%

YES 68%

Interpretation: - A very high response was shown for earning extra income. The people who were interested for more income is the one who show more interest towards insurance.

Analysis 8: Preferred amount as extra income by different people.

Result No. of individual 0k-10k Nil 11k-20k 8 21k-30k 5 31k-50k 4 51k-1L 9 >1L 13 Not Interested 11

30 25 20 15 10 5 0 11k-20k 21k-30k 8


11 5

31k-> 1L

Not Interested

Interpretation: -Most people needed in around 31k-1L in the form of extra income. Analysis 9: Interested for part time or full time
Full Time 28 Part-Time 22



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Interpretation: -Though we can see that its an almost equal distribution but majority were interested for full time job in insurance.

The findings are based on the survey undertaken and interview of individuals for the procurement of life advisors.

Finally selected Life advisors

Individual selected for training-

Individuals interested in full time occupation in insurance-28

Among the individuals who had provisions for future-34

Among the individuals surveyed, the individuals who were willing to make extra money-34

Total number of Individuals surveyed -50

The major findings are: 1. The Individuals finally selected as Life advisors constitute 2% of Sample size. 2. 60% of the Individuals were aware of bharti axa life insurance. Page 73 of 80

3. 56% of the individuals who wanted to make extra money could finally be selected for the Job.

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As we know that 7.5% of the peoples are insured that means rest 92.5% of the people are still living without insured. It means insurance industry is still in growth stage. But when we go to recruit life advisors of Bharti AXA most of the people did not agree because their view was that no body is ready to invest in insurance. It is totally wrong perception of some of the peoples. But, it was found that the questionnaire and interview questions, employee manual were sufficient to obtain the information required to analyze the process of requirement within the organization. It has been found that the organization has a sound understanding of what process need to be used in order to achieve effective recruitment of Life advisors. In addition to this, there are several recommendations for the organization. For any firm to be successful the main objectives should be: . The general perception of life insurance has to change in India before progress is made in this field. Sustainable long-term growth, Stable income and Asset preservation; Need to emphasize quality and diversification in both equity and fixed income asset classes. Understand and manage salary:

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1: In the 2 years of existence in the market it has created a sensation by introducing its most profitable Unit-Linked Plans and products. The insurer needs to concentrate to make its products and company much more aware among the public to change the mindset of the people and attract them towards insurance sector. This can make the recruitment of the potential advisors very well. To create the awareness among the people, the following methods could be adopted: It needs to conduct awareness programmers, campaigns and publish news about the company, products and attributes to position it in the customers mind. The company should timely communicate through media to make the relationship stronger. Another way of creating awareness about the presence of insurer is by placing hoardings and posters in the traffic areas and market complexes to attract the attention of the people. The awareness through the Television is another medium. Though it advertises its product but it should forecast itself on the channel which the maximum of people use like Doordarshan or advertising through regional channels. The company restricts itself from making any branch offices as it believes in the philosophy of one family. Hence more awareness can be created by establishing more branch and subsidiaries in the urban as well as rural areas. It can create much more awareness among the common people also.

Bharti-AXA life insurance company must give more advertisements on electronic media and print media, as it help in enhance its goodwill and more people are willing to work with reputed companies, through proper advertisement it become easy to sell the product. An insurance company must work with honesty to win the confident of its agent and general public. Duration of training must be reducing as in these day people have no extra time.

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Fees charged by companies from candidate for IRDA exam and training should reduce. Many other extra facilities must be provide to agent to attract them such local and foreign trips, special price on achieving a target, open bank account at free of cost. Bharti-AXA Life Insurance Company must organize more and more seminars and also participate in the job trade fairs to find out more candidates. Increase the commission of agents. Company must relic to candidate or other people that they are doing a social service for the welfare of society. Better career opportunity must be provided to an adviser, such as on role job, promotion etc. A special function must organize time to time in which the special prizes distribute among those agent who perform well. The duration of the process of recruitment and selection is too long (one and half month), during this process mostly candidate loss there interest, so there is an urgent need to reduce the duration of this period. Reduce the minimum premium amount it will help company to attract the agent of other company, as it increases the scope of market of its agent.

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Consumer survey DATA


NAME: ADDRESS:______________________________________________________________________


MARRED: YES______ NO__________

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1. 2.


:- YES:




3. 4.


PROVISION? YES:____NO::____ YES:_____NO:_______


5. 6.


PART TIME:______________FULL TIME:_______________


7. 8.




CONTACT NUMBER:_________________________

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Research Methodology- C.R Kothari, edition-2010 Publisher New Age International (P) Ltd, publishers Methods of Data Collection, page no- 95 Sampling Fundamentals, page no- 152 WEBSITES

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