Professional Documents
Culture Documents
UNDERTAKEN AT
Sec : C
If words are considered to be signs of gratitude then let these words convey the very same, my
sincere gratitude to Bharti AXA Life Insurance for providing me an opportunity to work
with Bharti AXA and giving necessary directions on doing this project to the best of my
abilities. I am highly indebted to Mr. Rajesh Kumar Sir ( Sr. BRANCH SALES MANAGER)
and company project guide Mr (AGANCY MANAGER) , who has provided me the necessary
information and also for the support extended in the completion of this report and there
valuable suggestion and comments on bringing out this report in the best way possible.
DECLARATION
I hereby declare that this work entitled “STUDY AND ANALYSIS OF RECRUITMENT AND
TRAINING OF LIFE ADVISOR IN LIFE INSURANCE submitted for the degree of PGDM for GL
Bajaj Institute of Management & Research(7th May, 2019 to 29th June, 2019)” is a benefited research
work carried by Preety Grover, student of Gl Bajaj Institute of Management & Research. This
assistance and help received during the course of investigation have been fully acknowledged.
Table of Content
Preface………………………………………….
CHAPTERS
CHAPTER-I
1.1)Introduction of report………………………….
CHAPTER-II
2.1)Introduction…………………………………………
2.1.1) Meaning of Insurance……………………………….
HRM Policy......................................
Literature Review……………………………
INTRODUCTION OF TOPIC
PURPOSE OF THE PROJECT
The project involved recruiting life advisors for Bharti AXA Life insurance in Jharkhand region. The
task was taken up by a 6 member team and the entire process of recruitment was divided into sub- tasks.
To further it, the project also involved arranging for preliminary training of Life advisors.
The process of recruiting and training Life advisors can be broken into the following steps:
Identifying individuals who are willing to solicit insurance business as a life advisor of the
company.
Assisting in scheduling the training and examination of the life advisors.
Assisting and coordinating with Agency Development Manager of the company for licensing and
coding of Life Advisors
THEORY ON RECRUITMENT & TRAINING
The Recruitment Process: Recruitment refers to the process of sourcing, screening, and selecting
people for a job or vacancy within an organization. Though individuals can undertake individual
components of the recruitment process, mid- and large-size organizations generally retain professional
recruiters. These are the main stages in recruitment.
2) Recruiting Research- which is the proactive identification of relevant talent who may not
respond to job postings and other recruitment advertising methods done in #1. This initial research for
so-called passive prospects, also called name-generation, results in a list of prospects who can then be
contacted to solicit interest, obtain a resume/CV, and be screened (see below).
Suitability for a job is typically assessed by looking for skills, e.g. communication, typing, and computer
skills. Qualifications may be shown through résumés, job applications, interviews, educational or
professional experience, the testimony of references, or in-house testing, such as for software
knowledge, typing skills, numeracy, and literacy, through psychological tests or employment testing.
The asset is valuable to the owner, because he expects to get some benefits form it. It is a benefit
because it meets some of his needs. The benefit may be an income or in some other form. In the case of
a factory or a cow, the product generated by it is sold and income is generated. In the case of a motor
car, it provides comfort and convenience in transportation. There is no direct income. Both are assets
and provide benefits.
Every asset is expected to last for a certain period of time during which it will provide the benefits. After
that, the benefit may not be available. There is a life-time for a machine in factory or a cow or a motor
car. None of them will last forever. The owner is aware of this and he can so manage his affairs that by
the end of that period or life-time, a substitute is made available. Thus he makes sure that the benefit is
not lost. However, the asset may get lost earlier. An accident or some other unfortunate event may
destroy it or make it incapable of giving the benefits. An epidemic may kill the cow suddenly. In that
case, the owner and those enjoying the benefits therefore, would be deprived of the benefits. The
planned substitute would not have been ready. There is an adverse or unpleasant situation. Insurance is a
mechanism that helps to reduce the effects of such adverse situations. It promises to pay to the owner or
beneficiary of the asset, a certain sum if the loss occurs. 5. Life insurance industry today
S.NO. COMPANY
1 AEGON Life Insurance Company Limited
2 Aviva Life Insurance Company India Limited
3 Bajaj Allianz Life Insurance Company Limited
4 Bharti AXA Life Insurance Company Limited
5 Birla Sun Life Insurance Company Limited
6 Canara H.S.B.C. Oriental Bank of Commerce Life Insurance Company
Limited
7 D.H.F.L. Pramerica Life Insurance Company Limited
8 Edelweiss Tokio Life Insurance Company Limited
9 Exide Life Insurance Company Limited
10 Future Generali India Life Insurance Company Limited
11 H.D.F.C. Standard Life Insurance Company Limited
12 I.C.I.C.I. Prudential Life Insurance Company Limited
13 I.D.B.I. Federal Life Insurance Company Limited
14 India First Life Insurance Company Limited
15 Kotak Mahindra Old Mutual Life Insurance Company Limited
16 Max Life Insurance Company Limited
17 P.N.B. Metlife India Insurance Company Limited
18 Reliance Nippon Life Insurance Company Limited
19 Sahara India Life Insurance Company Limited
20 S.B.I. Life Insurance Company Limited
21 Shriram Life Insurance Company Limited
22 Star Union Dai-ichi Life Insurance Company Limited
23 Tata A.I.A. Life Insurance Company Limited
HISTORY OF INSURANCE
Life insurance came to India from England in 1818 when oriental life insurance company started in
Calcutta by Europeans. After this many insurance companies had been started in India. But these
companies were looking after only the needs of European community established in India. Indian people
were not being insured by these companies. First Indian life insurance company came as Bombay
mutual life insurance assurance. Second company was Bharat insurance company came in 1896. After
this the united India in madras, national Indian and national insurance in Calcutta and the co-operative
assurance in Lahore were established in 1906.
To regulate Indian insurance business first insurance act came in 1912 as life insurance company act and
provident fund act. These acts consist of premium rates tables and periodical valuations of companies. In
the first two decade of 20th century many life insurance companies were started. So the insurance act
came in 1938 to governing life and non life insurance companies and to provide strict state control. In
1956 the life insurance business in India was nationalized. In 1956 life insurance corporation of India
(LIC) was created to spreading life insurance much more widely particularly in rural areas. In that year
LIC had 5 zonal offices, 33 divisional offices and 212 branch offices. In 1957 the business of LIC of
sum assured of 200crores, 1000crores in 1970, and 7000 cores in 1986.
KEY MILESTONES
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 by the Insurance Act with the objective of
protecting the interests of the insuring public.
1956 : 245 Indian and foreign insurers along with provident societies were taken over by the central
government and nationalized. LIC was formed by an Act of Parliament- LIC Act 1956-with a capital
contribution of Rs. 5 crore from the Government of India.
ADVANTAGES
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.
DISADVANTAGES
1. Cost Opportunity
The first Disadvantages of Life insurance policies and their plans are currently much luxurious in the
market that everyone thinks constantly that they could be spending the money on elsewhere. If they
didn’t pay the premium they are wonder that where that the extra money could go. When you get the life
insurance policy there should not be any cost opportunity as you are constantly spending money for
protecting your family. There are much better plans that you can get while buying the life policy because
you surely not just want to pay your house rent or your children fee. You must take a look on cost
opportunity while taking the life insurance policy.
2.Not necessary
Another disadvantages of getting a life insurance is always not necessary for you. If you have no
dependents or saved up money for you without debts than insurance policy is not really necessary for
you. If you are young and have no debts on your shoulders and then you must not involve in such
insurance policies. On the other hand if have any dependents, debts than you must avail some best
policy.
b) The asset may lose its value if a certain event happens. This chance of loss is called as risk. The
cause of the risk event is known as peril.
c) There is a principle known as pooling. This consists of collecting numerous individual contributions
(known as premiums) from various persons. These persons have similar assets which are exposed to
similar risks.
d) This pool of funds is used to compensate the few who might suffer the losses as caused by a peril.
e) This process of pooling funds and compensating the unlucky few is carried out through an institution
known as the insurer.
f) The insurer enters into an insurance contract with each person who seeks to participate in the scheme.
Such a participant is known as insured.
COMPANY PROFILE
History of Bharti AXA Life Insurance
Bharti AXA Life Insurance is a joint venture between Bharti, one of India‟s leading business groups
with interests in telecom, agri-business and retail, and AXA, world leader in financial protection and
wealth management. The joint venture company has a 74% stake from Bharti and 26%stake of AXA.
The company launched national operations in December 2006. Today, company have over 8000
employees across over 12 states in the country and a national footprint of distributors trained to provide
quality financial advice and insurance solutions to the large Indian customer base. Open first branch
office in Hyderabad. Introduces 2 unit linked products- “future confident‟ and „wealth confident‟
As we further expand our presence across the country with a large network of distributors, we continue
to provide innovative product and service offerings to cater to specific insurance and wealth
management needs of customers. Whatever your plans in life, you can be confident that Bharti AXA
Life will offer the right financial solutions to help you achieve them.
Mumbai
Delhi
Bangalore
Kolkata
Chennai
Ahmedabad
Ludhiana
Lucknow
Surat
Kochi
Indoor
Chandigarh
Vadodra
Bhubneshwar
Jaipur
Mohali
Guwahati
Vision
To be a leader and the preferred company for financial protection and wealth management in
India.
Professionalism
TeamSpirit
Innovation
Value
Pragmatism
Integrity
Strategy
To achieve a top 5 market position in India through a multi-distribution, multi-product platform
To adapt AXA's best practice blueprints as a sound platform for profitable growth
To 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
Bharti Group:
Bharti Airtel Ltd is one of Asia's leading telecommunications service providers. The Company is
India‟s largest integrated telecom company in terms of customer base and offers Mobile Services, Fixed
Line services, Broadband & IPTV, DTH, Long Distance and Enterprise services. Airtel also offers
mobile services in Sri Lanka on a state-of-the art 3.5 G network.
Bharti TeleTech Ltd Bharti Teletech is India‟s 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, Polycom, 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
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 corporate. 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
marketleading 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.
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.
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.
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 SA‟s
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.
This is a regular premium unit-linked insurance policy, which, which offers you the twin benefits of
protecting your loved ones and creating wealth for them over the desired period.
As a caring parent, you want only the best for your child. As your child grows, his aspirations will
grow too and so will your responsibilities. Whether it’s higher studies abroad, a grand wedding or a
comfortable home … you can now ensure that your child is always one step ahead
You can fulfill all the dreams you have for your child, and give him what he deserves. A bright
future!
The plan also offers the flexibility to make modifications, depending on the changing needs of your
child. As his dreams grow, the plan will grow too… so financial hurdles will never come in the way of
his growing dreams! With Bharti AXA Life Bright Stars
Parameter Eligibility
Maximum age at entry 70 years minus policy benefit period chosen. E.G: for
policy benefit period of 17 years, the maximum age at entry
is 53 years.
Spot Suraksha
Introduction Spot Suraksha is a unit liked insurance product, which offers you an instant insurance
protection and benefit of wealth creation in the long-term.
A cover note is issued to policy holder and insurance cover starts instantly.
100% allocation of premium- Full allocation of premium to the Investment Fund, according to policy
holder choice from 2nd year onwards.
A guaranteed special addition equal to 130% of annualized premium in the first policy year is added
in the policy fund at maturity or death, which is earlier.
Parameter Eligibility
Minimum age of entry 5 years
Maximum age of entry 55 years
Maximum age of maturity 70 years
Minimum Premium 12,000
Premium Mode Annual, Semi annual & Montly
Policy Term 15 years
Minimum top-up Premium 5,000
Dream life pension
Let you live your retired life king-size This plan is made for old persons and to make them self
independent and live a life of dignity and self-respect. Today you are busy climbing the ladder of
success and realizing your dreams. Today, time is with you. Just take a moment and think. The Bharti
AXA Life Dream life pension gives you:
Policy holder choose the age at which he/she would like to retire (vesting age), which determines your
premium paying term. Alternatively you can opt for single premium payment.
Parameter Eligibility
Minimum age of entry 18 years
Maximum age of entry 70 years
Minimum age of vesting 45 years
Maximum age of vesting 80 years
Premium mode Single pay, Yearly, Half-yearly
,Quarterly and monthly
Minimum Premium Annual Regular Premium:
Rs.12, 000 p.a.
Minimum Policy term 10 years
Minimum top-up Premium Rs.2, 500 and no maximum limit on top
up premium and top up allowed only
after first policy year.
MERIT PLUS
This is a regular premium unit-linked insurance policy which offers you the twin benefits of protection
against financial loss in the unfortunate event of the death and helping you to create wealth
systematically over the long-term. Hence this product is suitable for your long-term objective like
retirement planning, children’s future and giving a total protection to you and your family.
Parameter Eligibility
Minimum age of entry 0 years
Maximum age of entry 60 years (For death benefit option A)
55 years (For death benefit option b)
Maturity age 80 years (for death benefit option A)
75 years (for death benefit option B)
Policy benefit period 80 year less age at entry (for death benefit
option A)
75 years less age at entry (For death benefit
option B)
Premium payable period Yearly, Half-Yearly and
Monthly
Minimum Premium Rs.10,000
Minimum top-up Premium 500
Benefits of Bharti AXA Life merit plus
1. In merit plus the policy holder must have to choice one option out of the two. 1. Sum
assured(less all partial withdrawals made form the basic policy fund during the 12 months prior
to the date of death of life assured) or the policy Fund Value as on the date of intimation of
death, which is higher, will be paid.
2. The sum of sum assured and the policy fund value as on the date of intimation of death will be
paid.
Secure Confidence
Provide complete financial protection to your family, even when you are not there. Secure confident is
suitable to you if your objective is to protect your family against any financial loss caused due to
unfortunate death, disability due to an accident or critical illnesses which may deprive them of a secured
future.
Parameter Eligibility
Minimum age of entry 18 years
Maximum age of entry 55 years
Minimum Sum assured 5,00,000
Minimum Premium RS.1,500 for yearly,Rs.780 for half-yearly,
Rs.405 for quarterly and Rs.135 for monthly
premium
Policy benefits period 5,10,15,20 and 25 years
Maximum age of entry 60 years
Premium paying term Equal to the policy benefit period.
On death On survival
A sum assured is paid to the policy holder or The policy shall be terminated and no monies
nominee and the policy shall be terminated. shall be
payable to the policy holder.
Future confident
Future confident is a suitable product for you, if your objective is long-term targeted wealth creation
over 15-20 year, either for your own retirement or for your children‟s future, while at the same time
providing your family enhance financial protection.
Parameter Eligibility
Minimum age of entry 0 years
Maximum age of entry 60 years
Maturity age 70 years
Policy benefits period Less then 70 years
Premium payable period Yearly, Half-Yearly, quarterly and Monthly
Minimum period Rs.10,000 for yearly, 5,000 for half-yearly
2,500 for quarterly and Rs.834 for monthly
premium
Minimum top-up premium 500
Amongst the above-mentioned areas insurance is one sector, which took a lot of time in positioning
itself. The insurance business of non-life companies was not much in problems but the major problem
was with life insurance. Life Insurance Corporation of India had monopoly for more than 45 years, but
the picture then was completely different. Previously people felt that “Insurance is only for classes not
for masses” but now the picture is vice-versa.
The formation of IRDA, entrance of private life insurance companies into India with one foreign
partner, compulsory training of Insurance agents etc. developments started to take place. And this was
the time when these companies started searching for proper channel partners who can help the
organization in expanding its network and business in India.
After the Insurance Regulatory and Development Authority Act have been passed there has been
establishment of many private insurance companies in India. Previously there was a monopoly business
for Life Insurance Corporation of India (L.I.C.) who was the only life-insurance company for the people
till 2000. L.I.C. still holds 71.4% of the market share in 2006.
But after the introduction of private life insurance companies there is a great competition in Indian
market now. Everyone is trying to capture the fresh market here and penetrate it with aggressive
marketing strategies.
In India only 25% of the population has life insurance. So Indian life-insurance market is the target
market of all the companies who either want to extend or diversify their business.
Insurance is such industry where labour turn over is the maximum than that of any other industry hence
there is lot of scope for HR to work in recruitment and selection process.
On the whole Bharti AXA life insurance is a good place to work at. Every new recruit is provided with
extensive training on unit linked funds, financial instruments and the products of Bharti AXA. This
training enables an advisor/sales manager to market the policies better. The company should try to create
awareness about itself in India. In the global market it is already very popular. With an improvement in
the sales techniques used, a fair bit of advertising and modifications to the existing product portfolio,
Bharti AXA would be all set to capture the insurance market in India as it has around the globe.
HRM POLICY
The guiding Human Resources principles at Bharti AXA are:
• Provide people with the means to develop their competencies • Consider individual training and
development a priority investment
• Build organizations that are conducive to teamwork and that involve everyone
• Promote ongoing dialogue between managers and the people who report to them
Bharti AXA recognizes its employees as most important asset for its continued growth. HRM in Bharti
AXA strives hard to ensure continuous organizational growth by nurturing strength of its employees and
providing the environment & opportunity for every individual to raise his/her highest potential identity
and achieve his/her personal goal, within organizational, societal, and national objective. It shall
endeavor to upload dignity of individuals by recognizing their worthy contribution and making them feel
proud partners in progress through following measures:
and attitudes so as to secure super achievers and nurture them to excel in their performance.
Impart such induction, orientation and training so as to match the individual to taste and inculcate
high sense of organizational loyalty, with continues improved performance for betterment of company.
• Communication policy
Data of each department is recorded and preserved by responsible person of each department, and
most important record of HR Department in Bharti AXA is “WALK IN TRACKER.”
2) Communication policy
We recognize the importance of the communication to anticipate, understand and fulfill the needs and
expectations of the employees. Therefore a strong emphasis is laid on communication as a process of
sharing information, creating awareness, seeking suggestions and involving them for improvements in
the business related process so as to achieve the state of excellence.
The purposes and objectives of our communication policy are as under.
• Communicate organization’s goals & objectives, policies & strategies to all employees.
• Foster close working relationships across the divisions and teamwork throughout the organization.
• Develop & deploy systematically top-down, bottom-up and horizontal channels of communication.
• Share best practices and knowledge freely and provide easy access to relevant information.
• Provide facilities for all round growth of individual by training in and outside the organization, re-
orientation, talent, mobility and selfdevelopment through self-motivation.
• Groom every individual to realize his/her potential in all facets while contributing to attempt higher
organizational & personal goals.
• Recognitive worthy contribution is time and appropriately so as to maintain a high level of employee
motivation and morale. • Appraisals of promotion shall be ethical and impartial.
• Implement equitable, scientific and objective system of rewards, incentives and control.
HRM uses performance appraisal techniques to measure and evaluate the performance of the employees
and then suggest them how to improve it.
HRM helps in proper recruitment and selection of the desired talent who can prove beneficial to the
sector.
HR department takes care of the work environment and maintains a quality work culture in the
organization.
The marketing process has the following steps: • Formulating the problems
Organization Structure
Works through many channels marketing, human resource, finance, information technology,
1) DIRECT SALES FORCE – Have two tired salaried adviser force to target the large and diverse
Bharti Airtel customer base.
2) AGENCY-focus on building a highly productive agency force. This wing needs high quality of
training, and high quality recruitment.
3) BANK ASSURANCE- planes for developing strategic partnership with quality banks.
Direct Sales
HOM
ZSM
RSM
AM
ARSM
AAM
SM
SR.SM
SM SM-G SM-D
FO FO-G FO-D
FE FE-G FE-D
SM – Sales Manager
FO – Financial Officer
FE – Financial Executive
AGENCY STRUCTURE
Agency Head
RSM
ARSM
BSM
MOA
Advisor
LITERATURE REVIEW
Korsten (2003) and Jones et al. (2006):
According to Korsten (2003) and Jones et al. (2006), Human Resource Management theories emphasize
on techniques of recruitment and selection and outline the benefits of interviews, assessment and
psychometric examinations as employee selection process. They further stated that recruitment process
may be internal or external or may also be conducted online. Typically, this process is based on the
levels of recruitment policies, job postings and details, advertising, job application and interviewing
process, assessment, decision making, formal selection and training (Korsten 2003).
Jones et al. (2006) suggested that examples of recruitment policies in the healthcare, business or
industrial sector may offer insights into the processes involved in establishing recruitment policies and
defining managerial objectives.
Successful recruitment techniques involve an incisive analysis of the job, the labour market scenario/
conditions and interviews, and psychometric tests in order to find out the potentialities of job seekers.
Furthermore, small and medium sized enterprises lay their hands on interviews and assessment with
main concern related to job analysis, emotional intelligence in inexperienced job seekers, and corporate
social responsibility. Other approaches to selection outlined by Jones et al. (2006) include several types
of interviews, role play, group discussions and group tasks, and so on.
Any management process revolves around recruitment and failure in recruitment may lead to difficulties
and unwanted barriers for any company, including untoward effects on its profitability and inappropriate
degrees of staffing or employee skills (Jones et al. 2006). In additional, insufficient recruitment may
result into lack of labour or hindrances in management decision making, and the overall recruitment
process can itself be advanced and amended by complying with management theories. According to
these theories, the recruitment process can be largely enhanced by means of Rodgers seven point plan, Munro-
Frasers five-fold grading system, personal interviews, as well as psychological tests (Jones et al. 2006).
Silzer et al (2010):
However, the process of recruitment does not cease with application of candidature and selection of the
appropriate candidates, but involves sustaining and retaining the employees that are selected, as stated
by Silzer et al. (2010).
Work of Silzer et al. (2010) was largely concerned with Talent management, and through their work
they were successful in resolving issues like whether or not talent is something one can be born with or
is it something that can be acquired through development. According to Silzer et al (2010), that was a
core challenge in designing talent systems, facing the organization and among the senior management.
The only solution to resolve the concern of attaining efficient talent management was by adopting fully-
executable recruitment techniques. Regardless of a well-drawn practical plan on recruitment and
selection as well as involvement of highly qualified management team, companies following recruitment
processes may face significant obstacles in implementation. As such, theories of HRM can give insights
in the most effective approaches to recruitment even though companies will have to employ their in
house management skills for applying generic theories across particular organizational contexts. Word
conducted by Silzer et al (2010) described that the primary objective of successful talent strategies is to
create both a case as well as a blueprint for developing the talent strategies within a dynamic and highly
intensive economy wherein acquisition, deployment and preservation of human capital-talent that
matter,, shapes the competitive advantages and success of many companies (Silzer et al. 2010).
Rakesh sharma(2008) has written in his book that a company's success begins in the
recruitment process during which the screening and vetting procedures shape and convey the company's
demands to aspiring candidates. Therefore, it is essential for an organization to construct an explicit and
standardized mode by which skills, qualifications and personal attributes are illuminated and used in the
decision-making process leading to employment. The author discusses a dual interview and
supplementary self-evaluation process to be used to fill a new position of print media editor.
Conclusion:
It can be clearly concluded that for a company to succeed all it takes is the proper recruitment and
selection strategies which also shapes the overall manpower management of the company. By conclude
this literature review, the study emphasizes on the fact that the recruitment and selection process is
integrated with other processes such as strategic plan of the company, training and development
schemes, compensation, rewarding/incentive system, performance appraisal, and lastly, industrial
relations. Furthermore, according to Silzer et al (2010), there exist several reasons why the most
apparent information have been more promising; including the well-structured nature of interviews, the
use of questionnaires based on a job analysis, inclusion of panel of interviewers, the practice of note-
making during the interview, and the use of rating scale based on behavioural factors to gauge the
interviewee’s answers all play an integral part in the improvement of the recruitment validity.
INTRODUCTION OF PROCESS
RECRUITMENT ,SELECTION AND
TRAINING
Objectives of the study
To understand the process of recruitment and selection of agent in Bharti AXA life insurance.
On The project gave a practical exposure and helps in acquiring the on road skills.
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.
To introduce Bharti AXA to those people who don‟t have any knowledge about Bharti AXA and its
products and services.
Meaning of Recruitment
Finding the right people is a make-or-break factor for success in business today. Recruiting the top
talent for a job takes time and you have to attract quality candidates who have the knowledge and skills
needed to help your company grow.
The fact is, your success with recruitment depends on how well you prepare your job ad, and use source
of recruitment, and your interviewing skills.
Prepare a job ad that works to start, you want to be sure that your potential candidate truly understands
the job. The clearer you are with the task description, working conditions and advantages, the less time
you will waste examining and rejecting applications
However, you should also include work benefits (e.g., vacation, travel and perks), general working
conditions (e.g., scheduling, outside work) and the specific traits required (e.g. Team Building and
Communications skills). Ultimately, you want to be perceived as an attractive employer in a competitive
market.
Find the right recruitment vehicle choose the vehicle that best works for your company, depending on
your budget and resources.
Word of mouth, or simply telling your employees, friends and colleagues about a job opening, is a less
expensive strategy but generates fewer candidates. The advantage is that you already know something
about your recruiters and their skills, knowledge and achievements. This is a preferred method with
companies that have a finder's fee program for their employees.
Advertising is a toss of the dice. If it goes well, it can help you find ideal candidates in a regional,
national, or international pool. If not, it's a costly investment yielding few results. Make sure to factor in
the time it takes to go through a large number of resumes. Employment agencies cost more but
generally provide a good range of candidates. The employment advisors look at your needs, screen a
number of candidates, and only send you the applications that meet your requirements. Bear in mind that
the largest employment agencies do not necessarily offer the best choice of candidates. There are
numerous agencies that specialize in recruitment in specific sectors.
Recruiting online such as monster.ca, workopolis.com and jobboom.com. These can provide
inexpensive, worldwide access to employees. In fact, 65% of job seekers now have access to these types
of services. Using the Internet for recruiting usually involves regular visits to specialized recruitment
sites, joining newsgroups, and posting your job openings on recruitment sites, electronic publications
and on your own Web site.
Since the purpose of an interview is to identify and verify the candidate's potential, it should be
structured to bring out all the desired competencies and aptitudes. Remember that you have to decide
between the candidates: you could create a point system or analysis grid for comparing their strengths
and weaknesses.
Make a list in advance of the points for discussion and corresponding questions.
Present the candidates with a situation they could face on the job and ask them how they would react.
This will enable you to evaluate the candidates' knowledge, skills and work methods.
Ask the candidates to describe some difficult situations encountered in previous jobs and to explain
the way in which they were resolved. This will give you the chance to gauge the candidates' self-
confidence, creativity and problem-solving skills.
Ask the candidates to describe a difficult situation involving colleagues and how it was resolved.
This will enable you to test their aptitude for teamwork.
Ask the candidates about their ambitions and plans to ensure they fit your company profile.
Beware of asking questions about personal interests. They can get the interview off track or annoy
people who want to keep their work and private lives separate.
Definition of Agent
According to section 182 of Indian contracts Act, an “agent” is a person employed to do any act for
another or to represent another in dealing with a third person. In the insurance industry, the term “agent”
is ordinarily applied to a person engaged by the insurer to procure new business. The insurance Act
definers and insurance agent as one who is licensed under Section 42 of that Act and is paid by way of
commission or otherwise, in consideration of his soliciting of procuring insurance business, including
business relating to the continuance, renewal or revival of policies of insurance. He is, for all purposes,
an authorized salesman for insurance and needs a license.
An agent is one who acts on behalf of another. The “another” on whose behalf the agent acts, is
called the principal in this case. The insurance company is the principal in this case. The lawyer is the
agent of the client, when he argues the case in court. An ambassador is an agent of his country. The
agent represents the principal and acts on his behalf. Some insurers designate their agents as „advisers”,”
consultants” etc. as if they are independent advisor or consultant would not be appointed by an insurance
company. He would be knowledgeable enough as a person to be approached for advice or consultation.
Some insurance agents may acquire that status. All insurance agents should strive to attain that status.
The insurance Act, 1938 lays down that an insurance agent must possess a license under Section 42 of
that Act. The license is to be issued by the IRDA. The IRDA has authorized designated persons, in each
insurance company, to issue the licenses on behalf of the IRDA.
In terms of the Insurance Act, a license will not be given if the person is (a) minor,
(c) found guilty of criminal misappropriation or criminal misappropriation or criminal breach of trust or
cheating or forgery or an abetment of or attempt to commit any such offence
(g) The fee for a license is Rs.825 for individual. A license is granted for 3 years. It may be renewed
after 3 years and again valid for 3 years.
A license issued by the IRDA may be to act as an agent for a life insurer, for a general insurer or as a
composite insurance agent working for a life insurer as sell as a general insurer. No agent is allowed to
work for more than one life insurer or more than one general insurer.
The Qualifications necessary before a license can be given are that the person must be
(b) Have passed at least the 12th standard or equivalent examination, if he is to be appointed in a place
with a population of 5,000 or more. (10th standard otherwise.)
(c) Have undergone practical training for at least 50 hours in life or general insurance business, as the
case may be, form an institution, approved and notified by the IRDA. IN the case of a person wanting to
become a composite insurance agent, the applicant should have completed at least 75 hours practical
training in life and general insurance business, which may be spread over six to eight weeks.
d) Have passed the pre-recruitment examination conducted by the insurance institute of India or
any other examination body authorized by the IRDA.
The license once issued, can be cancelled whenever the person acquires a disqualification. Applications
for renewal have to make at least thirty days before the expiry of the license, along either the renewal fee
of Rs.250. If the application is not made at least thirty days before the expiry, but is made before the
date of expiry of license, an additional fee of Rs.100 is payable . If the application is made after the date
of expiry, it would be normally being refused.
Prior to renewal of the license, the agent should have completed at least 25 hours practical training in
life or general insurance business or at least 50 hours practical training in life and general insurance
business in the case of a composite insurance agent.
Insures who select agents for appointment, make arrangements for training, for appearing in the
prescribed examinations, and obtaining the license.
NOTE The insurance Act provides, In Section 44, for payment of commission on renewal premium
even after termination of the agency. The commission will be limited to a rate not exceeding 4%, to be
eligible for this; the agent should have been an agent with that insurer for at least
(1) five years and policies for at least Rs50,000 are in force one year before termination of agency or,
(2) 10 year.
This commission will be payable to the heirs of the agent after the agent‟s death.
FUNCTION OF AN AGENT
Understanding the prospect‟s needs and persuade him to buy a plan of life insurance that suits his
interests best.
Complete the formalities:- paper work, medical examination, which are necessary to get the policy
expeditiously.
Keep in touch to ensure that changing circumstances are reflected in the arrangements relating to
premium payments, nomination and other necessary alterations.
Career Growth.
Develop a Profile
Develop sources
of recruitment
Approaching the
Targeted recruits
Initial screening
and Interviews
Reality check
Sources of Recruitment
CONTROLLED UNCONTROLLED
Central of
Influence
Job
Ads/Insert
s
Natural
Placement
Market Consultants
Presentation /
Seminar
Cold Prospecting
Data Base
Primary Secondary
Controlled Market
Natural market
Your family
Your friends
People at job/business
Neighbors
Friends of friends.
CENTRE OF INFLUNCE
People with influence and prestige, other member of society believe and faith on them.
People who have a big circle of relationships: like secretary in societies, president of an association.
People who are known to you and are willing 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 him/her is in contact
Uncontrolled Sources
Job Ads/Inserts
Example: Gul Mohan 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 Gul Mohan 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 himself in internet job search sites to get list of
prospects.
Seminars/job fairs
Manager of agency can also organized seminars at Management Institutions and Colleges.
OR
Bharti AXA Life Insurance Company participate in the job fairs and then short list
Cold Prospecting
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
Occupation.
Greedy person.
Occupation of parent.
Family income.
Leadership qualities.
Secondary Data
(Telephone
Directory
Telephone Script
Hello sir,
I am Preety Grover 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?)
Address proof.
Photo – 8.
Education proof.
Q score sheet.
Agency application.
Form V A
. Fill NAAF.
Qualification
Present occupation.
Household income.
Occupation of parent.
If selected then the senior manager/MOA approve the application. The managers take the help of
scoring Mechanism. Scoring Mechanism was filled at the time of apply.
Q Score:
Additional Approval - 5 or 6
If the Q score is less than 7 then BSM/ARSM comments and signatures are required.
Step 3. Training
50 Hours Training and also provide a text book (IC-33 life insurance) for pre-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.
What is insurance
Underwriting
Insurance Documents
Policy conditions
Claims
Insurance agency
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.
Online
Manual
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.
Research Methodology
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. The study of research
methodology gives the student the necessary training in gathering material and arranging or car-indexing
them, participation in field work when required, and also training in techniques for the collection of data
appropriate to particular problem, in the use of statistics, questionnaires and controlled experimentation
and in recording evidences, sorting it out and interpreting it. 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.
Questionnaire methods and discussions with the HR and the employees were used to collect data.
The secondary data sources were collected from the company manuals, handbooks, and management
books and are edited to suite the purpose.
Investment in Life Insurance is not a one-time activity. It is a continuous activity. The same investor, if
satisfied, will come to the fund again and again. When the investor sends his application, it is not only
an application, but it also contains vital information. Most of this information if tabulated and analyzed,
would provide important insights into investor needs, preferences and behavior and enables us to target
customers need more accurately, to achieve better penetration, deeper loyalty and reduced costs. It is in
this context that direct marketing will assume increased importance. Knowing the customer thoroughly
is of utmost importance. Unlike the consumer goods industry, it is not possible for Life Insurance
industry to test market and have pilot projects before launch.
At the same time, focusing and concentrating on a particular geographic area where the fund has a
strong presence and proven marketing network, can help reduce network, can help reduce issue expenses
and ultimately translate into higher returns for the investor. Very little research on investor preference is
available, but the industry can collectively have a data bank, and share the information for appropriate
use.
This study on Life Insurances in India has been based on primary as well as secondary data sources.
The primary data is collected by the getting the questionnaire filled from the common investor above the
age of 18.
For this research, I have made use of a questionnaire for ascertaining the investment pattern of a
common investor.
The questionnaire consisted of 15 questions in total, each question having various multiple choices.
Depending upon the choice selected by the respondent, each respondent gets a total score which
represents his degree of favorability towards the kind of investment he makes and his knowledge about
the investments.
The main aim of conducting the survey using a questionnaire was to understand the perception of small
investors, who are the most exploited in Indian capital Market, analyze the type of funds available for
the investor, understand the investment pattern of a common investor, importance of marketing
Strategies in Life Insurances.
This was done by ascertaining the average response of all the samples for the total 15 questions asked in
the questionnaire. The results for the 15 questions asked were further graphically represented, showing
the favorability towards different parameters.
• Books
• Journals
• Magazine Articles
• Internet Websites.
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
An exploratory research is often the first in the series of projects that culminates in one concerned with
the drawing of inferences that are used as a basis of monetary action. Exploratory study is often used as
a introductory phase of a larger study and results are used in developing specific technique for larger
study. Of the study the relevant questionnaire was prepared and circulated among a stratified sample of
50 employees of BHARTI AXA LIFE INSURANCE Limited. 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. 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
SAMPLE DESIGN
Sampling technique:
Stratified sampling technique is adopted to conduct the research. Stratified purposive sapling is a
selection method for achieving a greater degree of representatives, therefore decreasing the probable
sampling error. It is based on the concept that a homogeneous population produces samples with smaller
sampling errors than does a heterogeneous population. Stratified sampling is accomplished by placing
all the members of the population into groups according to some characteristics that is common among
them, that is homogeneous subsets of the population. Then specified number of unit is chosen from each
of the groups or strata by purposive means.
Sampling Plans
The sampling plan consists of sampling units, e.g. from functional departments namely Marketing,
Commercial, Technical and Human Resource. These employees constitute the manpower in the
company who are engaged in the day to day functioning of the company, thus it is very important for
them to understand the various aspects of the entire selection process and also the importance of
performance appraisal system. Therefore, they had been selected for the project sampling
Sample Size:-
Conduction of interview
Conduction of examination
Final selection as LA
The elaboration on all the steps given in the flow chart above is given in the following pages.
1. Identifying vacancy and advertising it: the following changes in the scenario led to the
increasing vacancy for life advisors in Bharti AXA Pune.
After the identification of vacancy pamphlets containing the details were prepared and were
distributed. The pamphlets used by us have been provided as Annexure 1, 2 and 3.
3.1 The five Qs- The Qs are 5 different criteria where the candidates are to be analyzed.
3.1.1 Q1- The candidate should have been a resident of Lucknowfor at least five years.
3.1.2 Q2- He/ She should be married.
3.1.3 Q3- His/ Her annual income should be at least 1.2 to 1.5 Lakhs.
3.1.4 Q4- He/ She should be a graduate.
3.1.5 Q5- Minimum age to be eligible for being a life advisor is 18.
3.2 The significance of Qs
3.2.1 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.
3.2.2 A low Q score implies lesser possibility of such performance.
4. Conduction of interview:
6. Scheduling of the training: Guidelines as per provisions of IRDA Act for training of life
advisors (effective from 31st October 2004).
6.1 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.
6.2 The training duration should be minimum 18 working days excluding Sundays and holidays.
6.3 No product training/market survey should be included into this hundred 100 hours training. The
product training, if any, to be given by the insurance company should be over and above the
minimum training hours prescribed by the Authority
6.4 The attendance record of the trainees should be maintained at the Institute for necessary
inspection at any given point of time.
6.5 In case of short-fall of attendance, extra class may be permitted but the extra hours may be
specified separately with proper attendance and details of faculty.
6.6 Every Institute should have at least one qualified permanent faculty who is an Associate or
Fellow from the Insurance Institute of India for each stream i.e. for Life and Non-Life.
6.7 The attendance register of the faculty members should be maintained at the training institutes.
6.8 The record of the payment made to faculty should be maintained at the training institute i.e.
batch-wise payment detail should be maintained.
6.9 The faculty should provide details of the other Institutes with whom they have been empanelled
as part-time/guest faculty.
6.10 Register should be maintained at the training institute giving details of batches completed,
strength of the each batch, number of candidates decertified, name of the sponsored insurer and
details of faculty who imparted the training with dates.
6.11 The seating capacity of each class-room should not exceed 40.
6.12 The fresh accreditation will be given on need basis after assessing the needs of the particular
city/town.
6.13 The initial approval will be for a period of 3 years and consideration of further renewal up to 3
years would depend on the satisfactory compliance of requirements of accreditation.
6.14 The insurance companies would regularly send their officials to oversee the proper conduct of
the training at the institutes and would not sponsor candidates to those institutes that are not
maintaining the required standards of and facilities for the training.
6.15 The training institute must display the certificate of accreditation to impart training issued by the
Authority at the training institute.
6.16 The Institute should not allow a franchisee to conduct courses on its behalf even if the faculty is
that of the Institute. The Institute should conduct the training on its own premises or hired
premises with proper infrastructure.
6.17 No marketing fee/consultancy fee payment is permitted for getting the training batches.
6.18 It will be the responsibility of the Insurance Company to check the status of the institute before
sponsoring any candidates for training.
6.19 In case of mofussil areas or the cities where there are no accredited institutes and an insurance
company intends to appoint agents, it will be the responsibility of the insurance company to
conduct training.
6.20 The Institutes must keep with them one set of records of the training at the place where the
training is being imparted.
6.21 The Institute should confine its activities only to the place/city for which it has been given the
approval. No training outside the said place/city is permitted.
6.22 The Institutes must submit a copy of the lease deed/rent agreement at the time of seeking fresh
accreditation/renewal/change of address of the institute.
6.23 On successful completion of training the candidates get COT i.e. the Completion of Training
Certificate by Bharti AXA.
7. Conduction of examination:
7.1 Syllabus: the syllabus prescribed by the authority for life insurance agents is given in
annexure 6. it is indicative and not exhaustive. The self study course material developed by
institute in book form only the broad basis of examination which is available for sale with the
institute and its associated institutes. A candidate is expected to study the course material in
depth and also assimilate general information relevant to the subject. Candidate is also expected
to know up-to-date developments in the insurance industry.
7.2 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. But the institute reserves the right to change, the pattern of
question paper for the examinations without notice to anyone to test the knowledge of the
candidate as it deems fit.
7.3 Mode of examination: The test can be taken up in either of the two modes- online or offline.
Depending on the mode of testing the training is also arranged. For online mode the training is
also done online whereas in offline mode the training is done in the class room format of. The
duration of classroom training is 6+2 days. Where 6 days are reserved for compulsory IRDA
training and the remaining 2 days are for product based training.
7.4 Admission card: No candidate will be allowed to appear for the examination unless he/ she
produces the admission card. The admission card will be issued by Bharti AXA. Besides
admission card candidate must possess COT issued by Bharti AXA.
7.5 Sample questions: a list of sample questions is given as annexure.
8. Final selection as Life Advisor: the final selection as Life advisor is communicated to the
candidate.
SURVEY QUESTIONNAIRE
1)AGE
a)20-30 b) 30-40
c)40-50 d)50-ABOVE
2) Qualification
a)10th b)12th
3) Occupation
c)housewife d)student
4)Income
a)10,000-20,000 b)20,000-30,000
c)30,000-40,000 d)40,000-50,000
e)50,000-above
a)yes b) no
a) Tele-calling b) Pamphlets
7) Why do you want to work as life Advisor’s ? Please give the response for following statements
on five point likert’s scale ranging from Strongly Agree to Strongly Disagree
Statements SA A I D SD
I work for commission
I work for quality of work life
I work for growth opportunities
I work for brand images
I work for part time job
I work for incentives
I work for personality development
I work for sake of interest and passions
I work for fulfill your desire
I work for gain experiences
I work for remain busy
I work for knowledge
I work for fulfill daily needs
I work for self image
8) What made the join Bharti AXA life insurance as Financial Advisors?
9)How were you been made aware of Bharti AXA Life Advisor’s job offer ? Through:
10)How much time can you dedicate per day for this activity? (For getting Appointments)
a)Yes b) No
a) Yes b) No
13) Can you spare 1/2 day on training to understand to product and how can introduce it to your
customer?
a) Yes b)NO
14) How many people do you know in this city?
a) Under 50 b)51-100
c) 101-300 d)301-600
e) Above 600
15) According to you which skills are required most in insurance field.
Column1
20-30 30-40 40-50 50-ABOVE
12% 3% 1%
84%
b) Qualification
Column1
10th 12th Graduated Master degree
4%
41% 21%
34%
c) Occupation
Column1
job hosewife student self employeed
18% 0%
30%
52%
d)Income
Column1
10,000-20,000 20,000-30,000 30,000-40,000
40,000-50,000 50,000-above
20%
45%
20%
11%
4%
Column1
yes no
32%
68%
f) According to you which is a best techniques for recruitment of Life Advisor
Column1
tele-calling pamphlets apartment activity references
18%
48% 11%
23%
g) Why do you want to work as life Advisor’s ? Please give the response for following statements on
five point likert’s scale ranging from Strongly Agree to Strongly DisagreeNOTE: SA- Strongly Agree,
A- Agree, I-Indifferent, D- Disagree , SD – Strongly Disagree
Chart Title
SA A I D SD
31 29 29 29 29 29 31
26 27 28 28 27
23 25
11 11 10 12 10 11 11 11 9 11
8 8 8 8 86 88
311
6 6 5 5 5 5 7 5 5
10 0 01 12 00 00 00 10 10 10 02 1 2
h) What made the join Bharti AXA life insurance as Financial Advisors?( Rate between 1 to 4 , 1 being
the heighest and 4 being the lowest)
Chart Title
1 2 3 4 Column1
33
29
24 22
10 8 9 9 11
4 6 4 3
2 2
To supplement my income Passion for job To utilize my spare time To build my career
i) How were you been made aware of Bharti AXA Life Advisor’s job offer ? Through
Column1
tele- calling pamphlets through newspaper apartment activity
joggers pack friends and relatives any other
0%
41% 21%
23% 14%
1%
j) How much time can you dedicate per day for this activity? (For getting Appointments
Column1
less than 1 hrs 1-2 hrs 3-4 hrs 5hrs-above
30% 1% 30%
39%
k) Do you have any knowledge of or experience in Insurance?
yes no
45%
55%
Column1
yes no
29%
71%
m) Can you spare 1/2 day on training to understand to product and how can introduce it to your
customer?
Column1
yes no
43%
57%
n) How many people do you know in this city?
less than 50 51-100 101-200 201-300 301-400 401-500 501-above
8% 5%
7%
53% 11%
11%
5%
Column1
personality communication skills salary negotiation work experience any other
7% 13%
20%
60%
LIMITATIONS:
• Organization did not disclose full information.
• Time limitation
• Some of the respondents were not forthcoming with information as they thought it to be a waste of
time.
• Convenience sampling has been used, so the data may not be of that quality level as obtained by
complete enumeration.
• Respondent’s lack of time to give information and their casual attitude was a big hindrance in the study
Finding
Why people are not ready to work with private players in life insurance?
or
In these days LIC created a very well image in the mind of General public because it is semi
Government Company and also an oldest company. In short most people of Indian believe upon the LIC
only.
During the training period we felt that most of people who are already working in insurance sector
think that it is easy to sell the product of LIC than to sell the product of other life insurance company.
Most of people say that this job affects upon their social relation with other and also effect upon
their business.
Most of people believe that private insurance companies carried out fraud activity that‟s why they
never believe upon the private players.
People think that it is a time consuming activity and also required huge market skills.
Some people said that only greedy people like to work in insurance sect
Conclusion
In India, there is throat cut competition in the market of life insurance that brand service which adopt
new strategies for sales. I concluding the whole story it can be said that people are much more aware
about the aspects of life insurance and also have knowledge about the role and act of agent but mostly
people unwilling to work as life insurance agent and mostly people prefer to work with LIC because it is
a semi government corporation.
Suggestions
Bharti-AXA life insurance company must give more advertisements on electronic media and print
media, as it help in enhance its goodwill and more people are willing to work with 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.
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.
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.
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.
Annexure
2) Offer checklist
5) Offer letter
Offer Checklist
Location :
DOB :
E – Code :
Reference Check Form
F#/HRR/07/03/v1
EMPLOYMENT REFERENCE CHECK
Applicant’s Name:
Department & Function:
Position Applied For:
Location
Nature of acquaintance:
How would you rate his/her professional and personal competencies for the
position applied for?
What do you think are the areas of improvement for the applicant?
Any other information, which you would like to share, that will help us in
taking a decision to employ the applicant
In your view, what do you think was the reason of his/her leaving the job?
Significant Strengths -
_______________________________________________________
Areas of Improvement -
______________________________________________________
I understand that:
If I am the first to refer this person and he/she is hired, I will receive this employee
referral bonus; For all entry level sales positions at Executive and Senior Executive
level (FE, FO, MOA, SM etc) across all sales channels, a one-time payout is made
through payroll after the new joinee completes 6 months with Bharti-AXA Life For all
other positions, a one-time payout is made through payroll after the new joinee completes
3 months with Bharti-AXA Life The bonus will be paid through payroll and will attract
applicable taxes.
I hereby agree that the Employee Referral Policy and Guidelines would be applicable for
bonus payouts.
Encl: Resume
Signature_______________________________
• Reference to Websites: -
www.bharti-axalife.com
- www.avivaindia.com
- www.google.co.in
- www.irda.org.in