A

PROJECT REPORT
ON
“TRAINING & RECRUITMENT
OF
LIFE INSURANCE AGENT”
AT
BHARTI AXA LIFE INSURANCE COMPANY LIMITED
MUMBAI BRANCH
 Bharti – Axa Life Insurance (Training Report)

CHAPTER-1

Introduction:

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
from different sectors.
For creating strong relationship and for a success full business every insurance
company required financial planner.

Objective of the study:

 How to recruit agents for Bharti-AXA life insurance.
 To introduce Bharti AXA to those people who don‟t have any knowledge
about Bharti AXA and its products and services.
 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
especially 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.
 Bharti – Axa Life Insurance (Training Report)

HYPOTHESIS:

 People are much more aware about the aspects of life insurance.

 And have knowledge about the role and act of agent.

 Mostly people prefer to work with LIC because it is a semi government

corporation.

Research Methodology:

Research Methodology is the investigation of specific problem in detail. At first

problem is defined carefully for conducting research. There should be a good
research plan for conducting research. No research can be done without data
collection. After all this analyze is made for getting solution for problem.
 Defining the problem
 Defining the sampling plan
 Collection of data
 Analyze and interpretation

 Methodology for collecting data with reference to the secondary data was
taken from different books, magazines, IRDA journals and relevant web
sites.
 I have collected information from Mumbaikars which includes college
student, professors and so on.
 Bharti – Axa Life Insurance (Training Report)

Table of Contents

CHAPTER PARTICULARS PAGE NO.

NO.

Introduction
CHAPTER-1
Objective
Hypothesis
Methodology

CHAPTER 2
INDUSTRY PROFILE

CHAPTER 3 COMPANY PROFILE 16-30

CHAPTER 4 INTRODUCTION OF RECRUITMENT 31-45

AND SELECTION PROCESS OF AGENT

CHAPTER 5 DATA PRESENTATION AND 48-53

INTERPRETATION

CHAPTER 6 LIMITATIONS AND FINDINGS 53-54

CHAPTER 7 CONCLUSION AND SUGGESTIONS 54-55

CHAPTER 8 BIBLIOGRAPHY 56
 Bharti – Axa Life Insurance (Training Report)

CHAPTER-2

Industry Profile

WHAT IS INSURANCE

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

OF ASSETS. Every asset has a value. The asset would have been created through
the efforts of the owner. The asset would have been created through the efforts of
the owner. The asset is valuable 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.
 Bharti – Axa Life Insurance (Training Report)

HISTORY OF INSURANCE

 Insurance has been known to exist in some form or other since 3000 BC.
The Chinese traders, traveling 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 who died.

 The origins of insurance business as in vogue at present, is traced to the

Lloyd‟s Coffee House in London. Traders, who used to gather in the Lloyd‟s
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.
 Bharti – Axa Life Insurance (Training Report)

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.

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
wit 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 are assured by effecting a
valid assignment of the policy. A married women‟s 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.

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.
 Bharti – Axa Life Insurance (Training Report)

Role of Insurance in Economic Development

 For economic development, investments are necessary. Investments are
made out of savings. A life insurance company is a major instrument for the
mobilization of savings of people, particularly from the middle and lower
income groups. These savings are channeled into investments for economic
growth.

 An insurance company‟s strength lies in the fact that huge amounts come by
way of premiums. Every premium represents a risk that is covered by that
premium. In effect, therefore, these vast amounts represent pooling of risks.
The funds are collected and held in trust for the benefit of the policyholders.

 The management of insurance companies is required to keep this aspect in

mind and make all its decisions in ways that benefit the community. This
applies also to its investments. This is why successful insurance companies
would not be found investing in speculative ventures. Their investments
benefit the society at large.

 The system of insurance provides numerous direct and indirect benefits to

the individual and his family as well as to industry and commerce and to the
community and the nation as a whole.

 The very existence of risk that is, uncertainty concerning the future, is a
severe handicaps in economic activities. Insurance removes the fear, worry
and anxiety associated with this future uncertainty and thus encourages free
investment of capital in business enterprises and promotes efficient use of
existing resources.
 Bharti – Axa Life Insurance (Training Report)

 Thus insurance encourages commercial and industrial development and

there by contributes to a vigorous economy and increased national
productivity.

 Insurance ranks with export trade, shipping and banking services as earner
of foreign exchange to the country. It helps to earn foreign exchange and
represent invisible exports.
 Bharti – Axa Life Insurance (Training Report)

CHAPTER-3

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.
 Bharti – Axa Life Insurance (Training Report)

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

Professionalism

Team Spirit Innovation

Value
s

Pragmatism Integrity
 Bharti – Axa Life Insurance (Training Report)

Strategy

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

multi-product platform

 To adapt AXA's best practice blueprints as a sound platform for profitable

growth

 To leverage Bharti's local knowledge, infrastructure and customer base

 To deliver high levels of shareholder return

 To build long term value with our business partners by enhancing the
proposition to their customers

 To be the employer of choice to attract and retain the best talent in India

 To be recognized as being close and qualified by our customers

 Bharti – Axa Life Insurance (Training Report)

Bharti Group

Bharti Airtel Ltd

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.

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 company‟s neighbourhood format stores
operate under the "Easyday" brand and the compact hypermarket format under the
“Easyday market” brand.
 Bharti – Axa Life Insurance (Training Report)

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 endeavour to help customers lead a confident life.
 Bharti – Axa Life Insurance (Training Report)

Products of Bharti-AXA Life Insurance

Individual Plans:-

Bharti AXA Dream Life Pension:-

A Unit Linked Pension Product

Dream Life Pension, Bharti AXA Life Insurance‟s unique pension product ensures
that your retirement life is your Dream Life.

Live your Dreams! Be Life Confident.

Key Benefits:

 Unmatched flexibility for retirement wealth creation

o Pay one time lump sum or regular premiums

o At the inception systematically increase your premiums by 5 % or 8%

each year with the Accumulator Option

o Increase/decrease premiums any time after the 2nd policy year

o Add top up premiums any number of times after the 1st policy year

 Dream Life Pension enhances your retirement kitty by providing special

addition, starting from the end of 10th policy year

 Change your planned retirement age any time during the policy term

 Obtain tax benefits as per the prevailing tax laws on the premiums paid and

the benefits received under the policy.

 Bharti – Axa Life Insurance (Training Report)

Bharti AXA Life Wealth Confident:-

A unit-linked investment cum protection policy.

Your wealth, your status ensures that you get preferential status wherever you go.
So why shouldn't your money get the same?

WealthConfident, a unit-linked investment cum protection product, with its

limited period premium payment facility of 5 years, premium payment flexibility,
higher allocation of your premium for investment, unique special additions and life
insurance benefit, not only makes your money grow but also provides your
investment the special treatment that it deserves.

"Be confident of providing your investments the right mix of growth, flexibility
and loyalty benefits. Live confident with WealthConfident."

Key Benefits:

 Pay premium for five years, while your policy continues for ten years.
 Higher allocation of your premium up to 88% for investment.
 Special additions of units added every year from 6th Year for incremental
wealth creation.
 Choose from four different investment funds to meet your financial
objectives.
 Five times the life cover of your annual premium.
 Tax benefit under 80C and 10(10D).
 Bharti – Axa Life Insurance (Training Report)

Bharti AXA Life Secure Confident:-

A Long Term Life Insurance.

All of us desire to maximise the happiness for our family at all times, irrespective
of the circumstances. The thought of unfortunate events befalling us may cause us
anxiety about providing a secured happiness to our loved ones.

Key Benefits:

 Term Assurance for 5,10,15,20,25 years.

 Financial protection against unfortunate event of death at an affordable cost.
 Comprehensive overall protection with help of riders.
 Tax benefit under section 80C and 10(10D) of Income Tax Act.

Group Plans :-

Bharti AXA Life Mortgage Credit Shield:-

Mortgage Credit Shield is a Group Product that provides coverage to people who
have availed of a Mortgage\ Home loan\ Home equity loan from an
Institution/Bank.
 Bharti – Axa Life Insurance (Training Report)

CHAPTER-4

Introduction of the process of recruitment and selection of

agent

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.

 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.

 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
 Bharti – Axa Life Insurance (Training Report)

The essentials of any job description are:

 A brief description of your company

 Detailed outline of the tasks involved
 Qualifications and experience required
 Equipment and resources used to do the work
 Skills required using them.

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.
 Bharti – Axa Life Insurance (Training Report)

After recruitment the next part is selection of best candidates.

Make the interview deliver

Since the purpose of an interview is to identify and verify the candidate's potential,
it should be structured to bring out all the desired competencies and aptitudes.
Remember that you have to decide between the candidates: you could create a
point system or analysis grid for comparing their strengths and weaknesses.

Here are a few points to consider when structuring an interview:

 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.
 Bharti – Axa Life Insurance (Training Report)

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.
 Bharti – Axa Life Insurance (Training Report)

Procedure for becoming an Agent

 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,
(b) found to be of unsound mind,
(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
(d) found guilty of or knowingly participation in or conniving at any fraud,
dishonesty or misrepresentation against an insurer or an insured,
(e) not possessing the requisite qualifications and specified training,
(f) Found violating the code of conduct as specified in the regulations.
(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

(a) Not a minor.

(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. (10 th
standard otherwise.)
 Bharti – Axa Life Insurance (Training Report)

(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.
 Bharti – Axa Life Insurance (Training Report)

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.

 Facilitate quick settlement of claims.

 Be totally honest with both the prospect and the insurer.

 Not to induce prospects to submit wrong information.

 Bharti – Axa Life Insurance (Training Report)

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.

Bharti – Axa Life Insurance (Training Report)

Recruitment Process

Develop a Profile

Develop sources of
recruitment

Approaching the
Targeted recruits

Initial screening and

Interviews

Reality check
 Bharti – Axa Life Insurance (Training Report)

Sources of Recruitment

Controlled Uncontrolled

Natural Market Job Ads/Inserts

Central of Influence Placement Consultants

Presentation / Seminar
Agent gets Agents

Cold Prospecting

Data Base

Primary Secondary
 Bharti – Axa Life Insurance (Training Report)

Controlled Market

Natural market

 Your family
 Your friends
 People at job/business
 Neighbors

Extended Natural market

 The following are sources of names:

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

CENTRE OF INFLUNCE

 People with influence and prestige, other member of society believe and faith
on them.
 People who have a big circle of relationships: like secretary in societies,
president of 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.
 Bharti – Axa Life Insurance (Training Report)

 People who have faith in your leadership.

Uncontrolled Sources
Job Ads/Inserts

 This program should be on regular long range basis.

 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
Prospects and then look for further opportunities for them.
Cold Prospecting
 MOA can use the telephone directory.
 MOA and Telecaller can use the directories of various business and social
organizations.
Database
 Primary data: Direct collection of data of from the source of information,
technology including personal interviewing, survey etc.
 Bharti – Axa Life Insurance (Training Report)

 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.

 Bharti – Axa Life Insurance (Training Report)

Sources for Recruitment and Selection of Agent

Used during Training

Natural Market Market Survey

Secondary Data
(Telephone Directory)

Telephone Script

Hello sir,

I am Md. Riyaj Shah 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.

 Bharti – Axa Life Insurance (Training Report)

CHAPTER-6

Data Presentation and Interpretation

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

Bharti has expanded into new territories of business and they now offer the
best
in class insurance products. This new venture is named Bharti-AXA.

Mr. Sunil Bharti Mittal is introducing insurance to Punjab and Chandigarh

retailers and would like to give you an opportunity to earn and setup a new
income which can give you 15-20% margin on an average.

In this business you only have to contact your known people or regular
customers and their references to introduce Bharti‟s product and get an
appointment.

Post this, manager form Bharti-AXA will go, explain the product & close he
sale for you. You will in turn receive 15-20 % margin on sale. E.g. if a
policy is sold by Bharti-AXA manager for 10,000 you will receive 2,000.

We are here to understand your interest in this proposal specially designed by Mr.
Sunil Bharti Mittal for Punjab and Chandigar

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

 Bharti – Axa Life Insurance (Training Report)

Yes No
0, 0% 0, 0%

8, 20%

yes
32, 80%
no

 Only 20% Students were interested in taking up this business opportunity

with Bharti.(8 students were interested in this activity)

2) How much time can you dedicate per day for this activity? (For getting
Appointments)

½ hr 1-2 hrs 3-h hrs 5 hrs or more

0% 0%

2,25% half hour

1/2 to 2
2 to 4
6,75%
4 to 5

 From the above 8 people, 6 people said that they can spend ½ hour for this
activity daily.
 2 said that they can spend ½ to 2 hours for this activity.

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

 Bharti – Axa Life Insurance (Training Report)

Yes No

0, 0% 0, 0%

8, 20%
no yes

32, 80%

 80% of students at them have knowledge about insurance.

 20% of students said that they have no knowledge about insurance.

4) Do you have Experience as an agent?

Yes No

0, 0% 0, 0%

6, 15%

yes

34, 85% no

 15% of students have experience in the field of life insurance.

 85% of students have no experience in the field of life insurance.
 Bharti – Axa Life Insurance (Training Report)

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

0, 0%

1, 17%
LIC

3,50% HDFC
2, 33%
ICICI

 Out of 6 people 33%(3) of students working with LIC

 33% (2) of students working with HDFC Standard Life insurance
 33% (1) of students working with ICICI Prudential Life Insurance Co. Ltd.

5) Can you spare 1/2 day on training to understand to product and how can
introduce it to your customer?

Yes NO

0, 0% 0, 0%

4, 10%

Yes

36, 90%
no

10 % of students were interesting to spare 1/2 day on training to understand to

product.
 Bharti – Axa Life Insurance (Training Report)

QUESTIONNAIRE

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

Yes

No

2. How much time can you dedicate per day for this activity? (For getting
Appointments)

½ hr

1-2 hrs

3-h hrs

5 hrs or more

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

Knowledge

Yes

No

Experience

Yes

No

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

 Bharti – Axa Life Insurance (Training Report)

4. Can you spare ½ day on training to understand the product and how can
introduce it to your customer?

Yes

No

5. How many people do you know in this city?

Under 50

51-100

101-300

301-600

Above 600

Chapter-7
 Bharti – Axa Life Insurance (Training Report)

Limitation

 I didn‟t get complete feed from the students about the question as they are busy
in their work and had less time to fill questioned.

 Sincerity of answering the questions cannot be judged.

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

 No money available for project ( My pocket expenditure )

 Lack of knowledge and interest.

 Bharti – Axa Life Insurance (Training Report)

Finding

Why people are not ready to work with private players in life insurance?
Or
Why people are not ready to work as an agent in any company?

 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 sector.
 Bharti – Axa Life Insurance (Training Report)

Chapter-8

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.

Some people who has low income they were not

interested in life insurance but when I told them about different – different plan so

they were quite interested in it. I hope they will definitely change their mind & will

be aware of benefits of life insurance.

 Bharti – Axa Life Insurance (Training Report)

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.

 Training hours should be made choice of their preference timing.

 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.
 Bharti – Axa Life Insurance (Training Report)

 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.

Chapter-9

BIBLIOGRAPHY

IC-33 Life Insurance, Shri S.J Gidwani Publishers, Mumbai

www.irdaindia.org

www.bhart-axalife.com

www.wikipedia.org

www.ibef.org