A

Project Report On
Activation of
Intermediaries At

SIP project report submitted in partial fulfilment of the requirements for the PGDM
Programme

By: Sheetal Joshi

Roll No: 201600332

Supervisors: 1) Company Guide- Mr. Nirmal Kumar Danke

2) Faculty Guide- Dr. S. Shyam

Institute Of Management Technology, Nagpur.

2016-18

SHEETAL JOSHI | 201600332 Page 0

 ACKNOWLEDGEMENTS

As they say “Gratitude always makes sense of our efforts”, therefore the successful
completion of my internship is the outcome of consistent guidance and efforts from the people
behind my development during the two months.

I am grateful to the company Bajaj Allianz General Insurance for giving me this opportunity
to explore the various areas of sales and marketing. A special thanks to Mr. Nirmal Kumar
Danke for persistently mentoring me throughout the project and helping me learn and develop
over the period. This project is a combined effort by him, the agency team and me. He has
been a true mentor and I am highly indebted to him for his time and efforts that he has put in.

Also, I am highly thankful to Dr. S. Shyam for guiding me and helping me shape up my
project report. His valuable inputs and insights helped me overcome the difficulties that I
faced during this period. I am highly obliged and grateful for his time and efforts that he had
put in making this report meaningful.

Lastly, it is never enough to thank the people who are always behind me backing me up all
the time. I thank my family and friends for their continuous support.

SHEETAL JOSHI | 201600332 Page 1

CERTIFICATE OF COMPLETION
 TABLE OF CONTENTS

S.NO TOPIC PAGE NUMBER

1 CHAPTER-1 : 4-6

Introduction
Objectives

2 CHAPTER-2 : 6-15

Activation of Intermediaries (IMDs)

Methods
Comparison of Active IMDs with in-active IMDs
Results and Findings
3. CHAPTER-3: 15-17

Understanding the licensing procedure of the

agents
Methods.
Results and Findings
4. CHAPTER-4 : 18-19
Compare existing health guard product of the
company with that of the competitors.
Methods
Results and Findings
5. RECOMMENDATIONS 20

6. LIMITATIONS 21

7. SCOPE FOR FUTURE IMPROVEMENTS 22

8. APPENDIX-A 23-24

9. APPENDIX-B 25-28
 CHAPTER-1

INTRODUCTION
Insurance is one of the fastest growing sectors in India. Insurance helps people manage
monetary risks and losses related to investments, liabilities for wrong financial actions, and
risks for inability to earn income at any stage of life.

Bajaj Allianz General Insurance (BAGIC) is a joint venture between Bajaj Finserv Ltd and
Allianz SE.The company in general insurance which includes fire insurance, marine
insurance, motor insurance, theft insurance, health insurance, personal accident insurance etc.
The company has emerged as the most profitable insurer with a profit of Rs. 564 crore.

My profile at the company was similar to a Relationship Manager in the Agency Department.
The company, in spite of its growing profits, is facing serious challenges dealing with the
intermediaries associated with it. As compared to its competitors, BAGIC has weak
relationship with its intermediaries and therefore, many intermediaries do not bring business
for the company. In order to seek solutions to the problems, the company allotted me a project
on activation of intermediaries (IMDs) in which I was expected to build strong relationship
between the company and the IMDs so that they perform better for the company and therefore
are active IMDs.

While working on the project, it was evident that the Agency Department had several
strengths, weaknesses, opportunities to take advantages, and threats. This would not only help
the department determine its shortcomings, but also help it in looking for the opportunities
that can be taken into consideration for future growth. These are mentioned below-
SWOT ANALYSIS:

STRENGTHS WEAKNESSES
>Established brand name.
>Weak relationship management with IMDs.
>Trust among employees and customers.
>Company offers less discounts as compared
>Innovative approach of Product development to competitiors.
team.
>Increasing Premium because of promoting
>Large customer base. 'cashless' in place of reimburesemt
>Health Guard product. >Low commission amount to the agents is
>Only company with 'agreed value policy' in the discouraging.
industry.
>Guarenteed Claims offered.
>Only company having underwiting profits.

OPPORTUNITIES
>Newly launched mobile applications.
>Using Digitalization, going online in
premium payments.
>Shifting towards cashless.
> Recent Innovation in 'Motor dealer
Package policy'
>First in the industry to introduce such a
comprehensive package policy.
THREATS
> No contact information of many IMDs. This
gives rise to loss of IMDs.
>Communication gap between IMDs and their
manager.
>Increasing IMD grievances.
>Declining IMD base.
>The policy rates of motor sector are
significantly higher than the competitors.

FIGURE 1.0

OBJECTIVES
The key objectives of my project titled Activation of Intermediaries (Agents) were:
 Analysing the performance, productivity and profitability of intermediaries (IMDs).
 Identifying agents whose performances were below the standard set by IRDA i.e.
1,20,000 Lac per year.
 Identifying and understanding the challenges faced by intermediaries (IMDs) while
selling insurance products and devise solutions to address the problems faced by the
inactive agents and to convert them into active agents.
 Comparing business generated by active IMDs with in-active IMDs in particular
segments. This would help in better understanding, and would be easier to help in-active
agents do business.
 Understanding the Licensing procedure of the agents. Converting all the agents with SR
(Temporary code) to IRDA licensed code.
 Comparing the company’s existing Health Guard product with that of the other
companies in insurance sector. Therefore, determining the scope of improvement in the
company’s products and policies.

CHAPTER-2
ACTIVATION OF INTERMEDIARIES
OBJECTIVES:
 Analysing the performance, productivity and profitability of intermediaries (IMDs).
 Identifying agents whose performances were below the standard set by IRDA
i.e. 1,20,000 Lac per year.
 Identifying and understanding the challenges faced by intermediaries (IMDs) while
selling insurance products and devise solutions to address the problems faced by the
inactive agents and to convert them into active agents.
Comparing business generated by active IMDs with in-active IMDs in particular segments.
This would help in better understanding, and would be easier to help in-active agents do
business.

METHODS
It was essential to ensure maximum conversion of inactive into active agents, build a strong
relationship between the company and agents; and eliminate the agents who are totally non-
performing in order to cut down costs.

It was necessary to understand the company’s products right at the grass root level. The
project demanded a good understanding of policies and packages to analyse the working of
intermediaries and related sales. The following pathway was followed:
Collecting data of all the intermediaries (IMDs) working with the regional branch, Pune.
 IMDs with business of less than Rs 10,000 per month (MTD) or Rs. 1,20,000 per
annum (YTD) were labelled as inactive agents and were provided a band as E based on
the norms of IRDA.
 Analysing the data gathered to understand what the agents expect and through
them understanding what the customer expects.
 Organizing informal meets with the intermediaries (IMDs) to gather prerequisite
data about the agents and also about policies and the catchment, competitors, etc.
 Interaction with the intermediaries (IMDs) helped in understanding which products
are appropriate for which target segment, customer’s requirements, agents’ pay out
margin and policy upgradation requirement.
 Launching campaign Balle Balle Barcelona in order to encourage agents to grow their
sales. The agents were promised a tour to Barcelona if they brought sales between the
range decided by the company.
 It was essential for me to meet the IMDs every week in order to build a warm
relationship with them in the short span of time. Therefore, it was decided to meet at
least 10 IMDs every week.
 Organizing training sessions for the agents: There were total 6 training sessions
arranged.

Comparison of business generated by Active agents with that of inactive

agents:
 In order to be able to have proper knowledge about where and why these in-active
agents lag behind, a comparison was done based on the business generated by
active agents and in-active agents. This helped in analysing how active agents bring
business while why the inactive agents are unable to bring business. In this way, it
became easier to suggest those ways and guide them through in a better and much
clearer manner. The following is the table of comparison between agents.
 TABLE 2.0
ACTIVE IMD ID BUSINESS INACTIVE IMD ID BUSINESS
SEGMENT SEGMENT
10005329 Motor- commercial 4 10029427 Motor- 2 wheeler and
wheeler 4 wheeler. Irregular
Non-Motor- Health sales.
Guard, GMC.
Consistent each month
10005359 Motor- 4 wheeler 10011795 Motor- 2 wheeler.
High end vehicles. Consistent but low
Non-Motor- GMC. sales
inconsistent sale, but
high sales
10026262 Motor- 4 wheeler 10034195 Motor- 2 wheeler, 4
High end vehicles. wheeler. Inconsistent
Non-Motor- GMC, and irregular sales.
Health Guard.
Consistent and high
amount of sales each
month
10026264 Majorly Health and 10032226 Private 2 wheeler and
Private motor 4 wheeler.
segment. High sales Inconsistent and very
each month. low sales.
10034941 Private Motor and 100322961 Private 2 wheeler
Health Guard. Fairly Petrol vehicles.
consistent every
month.
10029916 Health Guard and 100355778 Private petrol 2
Commercial 4 wheeler wheeler and 4 wheeler
vehicles. High amount vehicle. Poor start.
of sales done in the
initial months.
100358494 Marine insurance is 100095613 Low sales of health
major focus, guard. Good start but
Commercial diesel left in the middle.
vehicle for the
remaining portion.
 10047112 Focus on only two 100222351 Weak customer
areas-Home insurance network and loss of
and Health Insurance. focus. Started with
Strong customer Health insurance and
network. shifted to motor later.
100311151 Marine and Fire 100277857 No focus area, only
insurance is major involved in 2 wheeler
focus area. High insurance that
business generated. generates minimum
payout.

 The table shows that the Active intermediaries are consistent in their sales
throughout the year.
 By comparing active IMDs with in-active IMDs, it was found that the in-active
IMDs were inconsistent with their sales.
 In-active IMDs targeted the segments that fetched least amount of pay-out for
them. Since, pay-out is a strong influencer, the IMDs get demotivated and this
affects their sales.
 Most of the in-active IMDs targeted Private petrol 2 wheeler or 4 wheeler
vehicles. The company does not give sufficient pay-out to the IMDs in Petrol
vehicles because the margin is too low. Therefore, targeting majorly the petrol
vehicles is not beneficial for the IMDs.
 As it was observed, the active IMDs targeted the Health segment more as they
get the maximum pay-out from selling Health Guard policies. Whereas, the
inactive IMDs didn’t focus on this area.
 Active IMDs concentrated on Private Diesel 2 wheeler and 4 wheeler policies as
there is a large amount of margin in diesel vehicles insurance.
 Apart from this, many top business generators focussed on Marine insurance
and Home Insurance which yields high amount of pay-out.
 RESULTS/ FINDINGS:
The following table consists of the Band width which is given to intermediaries based on the
Premium

TABLE 2.1

Premium (YTD) Band

0K to 10K E

10K to 25K D

25K to 50K C

50K to 1 Lakh B

1 Lakh to 2.5 Lakhs A

Above 2.5 Lakhs A+

Also, it was necessary to find out how many IMDs are mapped with each Relationship
Manager in the team. The following table contains this finding:

TABLE 2.2

Managers/Developers Count of Intermediaries

Aditi Dhingra 36

Vikram 39

Preeti Pawar 39

Rahul Perdeshi 46

Prasadh Masarkar 47

Siddharth Amrutha Patare 38

Grand Total 245

In order to activate IMDs and build a good relationship with them, every agent was
contacted. In this manner the reasons, problems and challenges faced by them was
identified and understood.
 Response of each IMD in the list was noted and analysed. The following
pie chart shows the category wise response.
 Pie chart showing Challenges faced by IMDs
CHART 2.4

Challenges faced by IMDs

Lack of Communication/ guidance

23% 31% No Problem

4%
Office Location problem
15%
27% Offered Discount Rates not good enough
Need more training

The findings indicate that-

 31% IMDs have faced communication or guidance problems from the agency
team’s end. They were dissatisfied with the communication from their
Relationship Manager (RM). Many said that there was almost nil guidance from
their RM.
 27% IMDs faced no problems from company’s end but according to them their
market wasn’t good for business.
 23% IMDs faced problems with the product knowledge and sales skills. More
training sessions must be provided in order to overcome this.
 15% IMDs faced office location problem. Since, these IMDs have to report at
the Commerce zone office at Yerwada, many IMDs find it far away from their
place of residence and it is difficult for them to visit the office every now and
then. This discourages their chances of sales and business with the company.
Change of branch location can encourage them since it would feasible for
these IMDs to visit office and do business and seek guidance.
 4% IMDs are unable to do sales for BAGIC because the discount rate offered
on two- wheeler or four-wheeler are not good enough, therefore they could not
 attract customers as customers prefer other companies offering greater discount
rate.

Identifying the influencers that affect IMDs’ performances:

It was important to figure out the influencers behind the business of agents with BAGIC, in
order to identify the steps that can be taken to make the IMDs do more business.

CHART 2.5

Influencers
11%
26%
17%
Commissions Speed of processes Product quality
Compensation structure.
Lower premiums
14%

32%

The findings indicate that the major influencer of agents is not mainly Commissions but
speed of processes.
 32% agents desire more speed of processes. People were of the opinion that more
speed in the process of issuing a policy, approving it, filling forms is desirable so
that their time is saved, and they can do more business in that time. A normal
policy takes approximately 3 working days to be issued due to lethargic manual
processing. This time can be saved.
 It was surprising that majority of the agents desired speed of processes and not
Commissions, which the company thought is the driving force for agents.
 Since, the company is reluctant to make changes to the commission structure as it
would cost the company dear, the company can make changes in its form filling
processes, which takes a larger amount of time.
  26% agents desire more commission from the company because the competitors
offer higher commissions for the similar type of policy. Money is the driver for
some agents, as they only work for making money.
 17% agents look for a proper compensation structure in the company. For
example, agents must be compensated the amount they invest in travelling to
visit customers for selling policies, phone call expense, etc. Therefore, if a
company provides better compensations even at lower commissions, some agents
prefer such a company over the others in the league.
 14% agents look for better product quality. Therefore, these are the agents which
BAGIC is able to hold for long, since BAGIC is one of those few companies that
have the best product quality. Agents desire better quality of products because
then they would be able to retain customers, and customers will always come back
to these agents for renewal or for new insurance products rather than going for
other
companies.
 11% agents are of the opinion that if premium charged by the company on
certain policies are lower; they will be able to do more business for the company.
Since, BAGIC policies are a little upper-class ones, lower premiums are not
expected from the company.
 These findings show that there are various influencers apart from just
compensation being the driving factor for the agents to work for the
company.
 According to this survey, the company may now start working upon making
processes faster by going online in most of its work.
 By now, the company has fairly accepted digitization, but the agents are not well
versed with the usage of the apps and web portals. A training programme in
order to make them handy with the usage of such things is required.
TABLE showing IMDs that were successfully converted:

 The chart below shows the IMDs that were in-active by the start of April-2017 but
now are active IMDs.
 In order to be active, IMDs were required to bring a minimum premium of Rs.
20,000 in total by the end of May’17.
 It was noted that each of the below IMDs successfully brought forward minimum
premium of Rs. 20,000 in total.
 TABLE 2.6

IMD NAME LAST APR’16 APR’17 TARGET BUSINESS

STATUS BASE (in (in Rs.) TILL
(in Rs.) Rs.) MAY’17
(in Rs.)
Tejashri Vishnu Mali Active 14749 22124 23749

Waghmare Rashmi In-Active 14157 21236 22808

SANDEEP P KHARARE In-Active 0 50000 22015

KADAM RAJANIKANT In-Active 12312 18468 29312

Pramod Rangnath Bhalerao In-Active 0 50000 39130

Walhekar Snehal Dattatray In-Active 44543 66815 25633

SAIFALI GULAB SHAIKH In-Active 0 50000 33442

Madhuri Mohan Wagh In-Active 0 0 25898

Deepak Verma In-Active 10739 16109 35552

Vishal Rajkumar Lalwani In-Active 0 35000 29969

Pramod Rangnath Bhalerao In-Active 0 50000 29130

ASHWITA MURGUNDE In-Active 113909 170864 29088

MUNDADA LAXMINARAYN In-Active 15420 23130 28051

Dhumal Shital Shekhar In-Active 0 50000 21225

Sachin Suresh Jain In-Active 0 50000 27160

RAJESH THORAT In-Active

72003 108005 66444
Manu Bhau Apte In-active
2200 50000 35746
 Pie chart showing percentage of converted IMDs

CHART 2.7

11.33%

Converted still in-active

88.67%

 The above pie-chart shows that 11.33% of IMDs were converted from inactive to
active IMDs during my project.
 However, there are 88.67% who are still inactive and do not bring the desired business
for the company.
 The final result of the project was that 11.33% IMDs were successfully
converted from inactive to active IMDs.

CHAPTER-3
UNDERSTANDING THE LICENSING PROCEDURE OF THE
AGENTS
OBJECTIVE: Understanding the Licensing procedure of the agents. Converting all the
agents with SR (Temporary code) to IRDA licensed code.

This phase of the project involved converting IMDs with SR code (temporary license) into
IRDA codes (permanent). This was done to absorb and continue holding the IMDs with
BAGIC throughout the year so that they keep doing business with the company. The
pathway followed for this phase was-
  Collecting data of all the IMDs working with the regional branch and having
SR code.
 Contacting the IMDs and providing them the requisite information.
 Since issuing IRDA code is a month long process, it involves various stages for
example- Examination of agents, their interviews, and agents attending 25hrs
training programme.
 Contacting IMDs and collecting required documents from them.

METHODS:
The documentation process involved the following steps-
Out of the total number of agents associated with BAGIC, Regional Branch, Pune, a list
of agents having SR code was segregated and compiled into a spreadsheet.
There are various stages involved in converting SR code to IRDAI code. The
following are the essential requirements:
1. Request for allotment of IMD code: A Request Form has to be submitted to IRDAI
(Request form attached under Appendix A.) Also, documents of the agents like Date of
Birth proof, 12th Pass certificate, Permanent address proof, and Photographs are
necessary.
2. Form I-A – IRDAI form duly filled and signed by the applicant. (FORM I-A attached
under Appendix A).
3. Original Notarised affidavit / Gazette copy / Passport copy in case, name has been
changed.
4. Interview form signed by Agency Head not less than L2.
5. All documents to be attested from BAGIC’s end
6. After the identification of these documents, the agents have to go through an
examination conducted by IRDA in order to get a permanent license.
7. After the examination, an Interview is taken.
8. The agents, who pass the examination and interview stages, are required to attend
a training session. A 25 hours training certificate is necessary before IRDA could
issue a permanent license.
 RESULTS
 The list of the agents who I was able to successfully convert for SR code to
IRDA is in appendix-3
 Out of 153 IMDs with SR code (temporary Code), 117 IMDs were made to convert
their into IRDA codes. The pie chart of the same is as shown below-

CHART-3.0

Percentage of IMDs converted to IRDA Code

36, 24%

SR Code
IRDA Code
117, 76%

 Out of 153 IMDs with SR Codes, 117 IMDs were successfully converted into
IRDA Codes.
 However, 36 IMDs still do not possess a permanent Code i.e., IRDA code.
 CHAPTER-4
COMPARE EXISTING HEALTH GUARD PRODUCT OF BAGIC
WITH THAT OF THE COMPETITORS

OBJECTIVES: Comparing the company’s existing Health Guard product with that of the
other companies in insurance sector. Therefore, determine the scope of improvement in the
company’s products and policies.

METHODS
 Going and meeting with different IMDs who work with multiple other
insurance companies along with BAGIC.
 Collecting information from them about the health products offered by other
companies, what their products offer and what do other products fulfil.
 Finally comparing BAGIC’s health guard product with the health products of
competitors.

RESULTS AND FINDINGS

The table below depicts the comparison between Bajaj Allianz’s Health Guard product
with the other health insurance products of the competitors.

Comparison of BAGIC’s Health Guard with other health products of competitors:

TABLE 4.1

Feature Health Heart CARE- Easy PRO- Comprehensive

Guard Beat ReliGare Health- Health STAR
BAGIC Platinum- Apollo CIGNA Health
Max Bupa Munich TTK
Road Ambulance Yes Yes Yes Yes Yes Yes
upto upto Rs. 3,000 upto Rs.2,000 upto Rs. 2,000 No sublimit upto Rs. 5000 per year
Rs.20,00
0

Day Care Procedure Unlimited Unlimited Unlimited Unlimited Limited Limited

Restoration & Yes No Yes No Yes Yes

Recharge 100% N/A No N/A 100% 100%
Same N/A No N/A No No
Disease
Organ Donor Yes Yes Yes Yes Yes No
upto SI upto SI 20% upto SI upto SI upto SI N/A

SHEETAL JOSHI | 201600332 Page 18

AYUSH Benefits Yes Yes Yes Yes Yes No
upto upto SI 4% upto SI upto Rs. N/A N/A
Rs.20,000 20,000
Baritric Surgery Yes No No No No Yes
10% of SI to N/A N/A N/A N/A Max upto
a max of Rs Rs. 2.5L
5L

 Road ambulance: It was observed that road ambulance was one such feature
that was covered by all the major competitors of BAGIC under the Health
insurance products.
 Day Care Procedure: Day care procedures include the medical treatments that
take less than 24 hours. Therefore, the short-term hospitalization procedure is
covered by BAGIC. Also, BAGIC covers all the day care procedures like
Cataract, Dialysis, Chemotherapy, etc. Competitors like Max Bupa, ReliGare
and Apollo Munich also cover all the Day care procedures, whereas other
competitors like CIGNA TTK and Star Health do not cover all the day care
procedures.
 Restoration and recharge: BAGIC allows 100% restoration of the same
insurance product for the same disease in case of a claim once. This means that
the customer does not have to repurchase the health product if he has used it
once for his treatment. Other competitors like Max Bupa and Apollo Munich do
not have such a cover in their health products.
 Organ Donor: BAGIC does not only provide a cover for the patients
undergoing any surgery, but also provides a cover for the organ donor as well.
Whereas Star Health has no such cover in its Health product.
 AYUSH benefits: BAGIC provides a cover not only for Allopathic treatments
but also for Ayurvedic, homeopathic and Naturopathic treatment. Whereas Star
Health doesn’t cover Ayush benefits under its Health product.
 Baritric Surgery: BAGIC provides cover for Baritric surgery upto a limit of 5
Lacs. Whereas no other competitor provides such a wide cover for Baritric
Surgery.

SHEETAL JOSHI | 201600332 Page 19

 RECOMMENDATIONS
 Relationship building with the agents: It has been clearly observed that if the
employees maintain a friendly relationship with the agents, agents are bound to take
up a lead and put in more efforts even for the lowest premium. As a few agents
responded that they do more policies for other firms like ICICI Lombard because they
are friends with the staff there. Similarly, if the staff at Bajaj Allianz would build a
relation and a rapport with the agents, they are bound to come back with an increased
number of policy premiums.
 Increasing the number of Relationship Managers: It is now extremely important to
increase the number of relationship managers. It is clearly observed that there are only 6
relationship managers for a lot of about 300 agents. One relationship manager (RM) is
mapped with around 35+ IMDs which is practically not manageable to maintain cordial
relationship with each IMD. More relationship managers (RMs) would mean that less
number of agents are mapped with a single manager, therefore, making it easier to
maintain a strong relationship with each of their respective IMDs.
 Organizing meets every week: It was noticed that no regular meets were organized for
the agents. Each RM should organize a meet once every week in order to maintain
strong relationship with their IMDs. More face to face meets will result in IMDs getting
more comfortable, and would increase their trust on the company as a whole.
Therefore, the agents will put in more efforts to work for the company.
 Spreading awareness about the campaigns: The team should focus more on
marketing well the campaigns they launch. Increasing visibility of their campaigns
will not only generate interest among the agents but will also help them retain. It is
important to market every campaign to widen the impact of it and to gain maximum
participation from the agents.
 In order to reach more number of agents, the team needs to take Social media marketing
into consideration while they launch any campaign.
 Agent’s Day Celebration: 15th of every month is celebrated as Agent’s Day at Bajaj
Allianz General Insurance, therefore, on this occasion every month, there should be
organized a small celebration-cum-meet, in order to strengthen the agent-company
relationship. I have extended my suggestion to the officials at BAGIC, and named it as
OXAGEN.

SHEETAL JOSHI | 201600332 Page 20

 LIMITATIONS

 As the project was of two months duration only, it was very difficult to build a great
relationship with the agents in such short span of time, since relationship building is a
long process and it is difficult to achieve that in two months of time.
 Even though BAGIC is willing to go out of their way to create opportunities and provide
incentives for the agents, the agents themselves aren’t willing to perform.
 Also, it is difficult to retain and maintain the agents throughout the year. Many of them
drop out in the middle of the year.
 Due to gross competition in the insurance industry, agents tend to oscillate from one
company to the other depending on the pay-out they receive from the company.
 Few agents are reluctant to share their problems faced while selling and some even give
false information. This came into picture when cross-checked with the department officials
about their feedbacks.
 Recruiting new agents is a difficult task; convincing them, providing incentives and
benefits so that they work for the company takes time, and when the IMDs do not
perform even after that, there is a loss of time, man-power, efforts and loss of money of
the company. Activating Inactive IMDs is a long process, since in two months they are
only MTD active but not YTD active.
 It was observed that, in some cases, it took more than a month to procure some agents.
Then, licensing is also a big expense of the company nearly 1L is spent on the licensing
of new agents.
 Even if BAGIC aims at cutting down costs by eliminating the agents who are non-
performing, the investment goes in vain. Therefore, it is a dilemma at company’s
end whether to get rid of these inactive agents or to hold them till they do not
perform.
 The system of processes in the company is too slow; therefore, it was a hindrance in
issuing policies fast.
 SCOPE FOR FUTURE IMPROVEMENTS

 Team must make sure to meet IMDs doing low business at least twice a month.
 Communication channel from the agency team’s end can be improved as they have a
good team with great product knowledge. A better communication with the IMDs
will go a long way.
 Brand visibility should be improved. Although BAGIC is an established brand, but
among intermediaries, it still needs to increase its visibility because many agents may
not be aware of the new policies or any revision that takes place.
 Inactive IMDs later doing good business should be initially rewarded to motivate and
encourage them.
 APPENDIX-A

FORM I-A
APPLICATION FOR APPOINTMENT TO ACT AS AN INSURANCE AGENT
(With a Life Insurer OR General Insurer OR Health Insurer)
TO

(Name of the Insurer), Paste self

-----------------------------------------, attested
---------------------------------------- passport
----------------------------------------. Size
DEAR SIRS, Photograp
I request that Appointment to act as an insurance agent of h
your organisation may be granted to me.
I hereby declare that particulars given below are true and that the
APPOINTMENT for which I apply will be used only by myself for soliciting or
procuring insurance business for your Insurance Organisation
(1) Name: [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
(2) Title: State 1 if Mr., 2 Mrs., 3 Miss: []
(3) Father's/Husband's Name [ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ][ ]
(4)Full Address:
House
No
Street
Town
District
State
Pin Code
Mobile Email
No id
(5) Date of Birth: Day- Month-Year [ ][ ]-[ ] [ ]-[ ][ ][ ][ ] Attach Age proof
(6) Educational Qualifications. (Tick the right Box) (Attach self-attested
certificate)
Class X Class XII Graduate Post Graduate Others
(7) PAN CARD Number (attach self-attested copy of the PAN
CARD)
(8) Particulars of pass in pre-recruitment test conducted by the Insurance
Institute of India or any Examination Body :
Name of Examination
Body:
Candidate's Name:
Candidate's Number:
Centre of Examination
Name of the Exam
passed
 REQUEST FOR ALLOTMENT OF IMD CODE

Please allot an IMD Code as per the following details:

1) Name :

2) Address:

(Attach copy of address proof) Electricity Bill Telephone Bill Driving License
Passport Ration card Election card Bank Passbook Aadhaar Card
copy statement

3) Mobile No:
4) Name of Agency Executive Servicing the code & Employee Code

5) Email Id:
6) Branch Location Name

7) IMD Category:
Individual Agent Broker Corporate Agent Service Provider Web Aggregator
Sub IMD (Original IMD Code: )

8) If Agent :
a) Whether Documents for licencing forwarded to HO – Yes No
b) Whether undergone IRDA training – Yes No
(If yes, details of Batch, Date & Institute) :

c) Whether Pre-recruitment exam passed – Yes No

(If yes, details of Batch, Date & Roll No.) :

9) If Service Provider / Consultant :

a) Is MOU Signed – Yes No
b) If yes, expiry date thereof
c) If MOU not signed, last date for conversion as agent
d) If MOU – Dealer: Name of dealership:
e) If MOU – Bancassurance: Name of Bank from business sourced

f) If MOU – Travel: Name of travel agency

(Point no “d”, “e” and “f” are required where code is taken in the name of individual)
10) Channel:
Broker Multiline Travel Motor Dealer
Bancassurance Web Sales
11) Permanent Account Number: (Attach copy of PAN
Card):

12) Service Tax Registration No. (For Service Providers & Consultants) :

(Attach copy of Registration Certificate)

13) Photo Identification Proof: (Attach copy)
Passport copy Election card Driving License PAN card Aadhaar card
I who is approving the request for allotment of
IMD code affirm that the above documents are genuine & have been verified by me with the
SHEETAL JOSHI | 201600332 Page 24
 APPENDIX-B
Intermediary Status 16-
Id Intermediary Name 17
SR00002765 Chandarani Vineet Khopkar Active
SR00005720 TUSHAR PHULCHAND BAGMAR Active
SR00006468 S D Rathod In-Active
SR00008405 Babasaheb S Narwade Active
SR00008518 Shyam Uttamrao Mulay In-Active
SR00008617 Satish Jaiswal In-Active
SR00008969 Swapnil Pandit Rasal 0
SR00012238 Sathe Pravin Vilas Active
SR00021406 Ashwini Sunil Kasabe In-Active
SR00021421 Kumar Stephan Sonavane Active
SR00022316 Anita shankar patil In-Active
SR00022320 Dinesh murlidhar jagnade Active
SRCV000030 MAHESH MANKAR 0
SR00024032 Dhumal Shital Shekhar In-Active
SR00024406 Sachin Suresh Jain In-Active
SR00024834 Pramod Rangnath Bhalerao Active
SR00025580 Ganesh Hari Mahajan 0
SR00025608 Asha Nitin Dedge In-Active
SR00028744 SUNNY AGRAWAL Active
SR00029493 ROSHAN MORE In-Active
SR00029962 SAIFALI GULAB SHAIKH In-Active
SR00030119 Geetanjali S Wagh Active
SR00030144 Kashinath Manikrao pinjare Active
SR00030145 Nishikant R Balkawade Active
SR00030146 Mayur Magan Daundkar Active
SR00031144 ANIL EKNATH BARAWKAR 0
SR00031179 SANDEEP P KHARARE 0
SR00001929 KANCHAN S SATHE 0
SR00003639 Ishwar Baburao Kapre 0
SR00003730 Suresh Ashok Bavbande 0
SR00003778 Chandrakant D Harhare 0
SR00004899 Kawale Govardhan Bhujang 0
SR00006927 Sheetal Jayesh Khetkar 0
SR00007170 FIROZ KHAN Active
SR00007501 Jayant Pandharinath Somvanshi 0
SR00008403 Prasadh Govind Khopkar 0
SR00008509 Sangita Sunil Kumbhar 0
SR00008769 Ravindra S Pillai Active

SHEETAL JOSHI | 201600332 Page 25

SR00009369 Dilip Hasija 0
SR00010649 Savita Aniruddha Kulkarni 0
SR00011775 Deepak C Futane 0
SR00012564 Anmol Survase 0
SR00014507 Uday Naga Naik Active
SR00005389 Meera Mahesh Shah Active
SR00006748 Bakulesh Damji Savla Active
SR00007402 DAVE SHABNOOR SAJID Active
SR00008182 Manoj Vinod Talati Active
SR00008316 KUNAL MUTHA 0
SR00008514 Aditya S Pansare In-Active
SR00009811 Snehal Dilip Shah Active
SR00009885 Jayesh Jagmohandas Vora Active
SR00010463 Amit Sanjeev Kabra Active
SR00010944 Vaijayanti P Atre In-Active
SR00011439 Taher V Shaikh 0
SR00011485 Sheetal Pradeep Kumbhar 0
SR00011874 Gade Popat Shankar 0
SR00016280 Santosh Gulab Gadadare 0
SR00016502 Jharna Girish Seth 0
SR00016813 Vaibhav Kundalik Patait Active
SR00017669 Vijay M Singam In-Active
SR00017976 Nikam Tukaram Raosaheb 0
SR00018268 Dhananjay P Sathe In-Active
SR00018543 Peter Phillip Dcruz In-Active
SR00018790 Ashish Vijayvargiya 0
SR00018989 Walhekar Snehal Dattatray In-Active
SR00020154 PAGARIYA ADITYA ABHAY 0
SR00021392 Madhuri Ganesh Hargude In-Active
SR00021393 Sanjay Rambhau Margale Active
SR00022129 Subham Suresh Telang In-Active
SR00030731 ROSHAN ASHOK CHAVAN Active
SR00030732 KALE SAGAR SAHEBRAO Active
SR00030848 SUNIL S SHINDE Active
SR00031155 POONAM RAJENDRA LAGAS Active
SR00024532 Dipak Bapurao Bhoyate Active
SR00024593 Mahendra Ovhal Active
SR00024681 TUSHAR RUPAREL Active
SR00024992 Dinesh Narayan Khandve Active
SR00025208 Sandeep Shankar Kamble Active
SR00025390 Chetan Suresh Parkale Active
SR00025667 Maya Sunil Toshniwal Active
SR00025668 Sujit M Magar Active
SR00025792 Pritpal Singh K Sandhu Active
SR00026043 Harpale Maruti Daulat Active
SR00026044 Anu Praful Gupta 0
SR00026045 Auti Revaji Genu In-Active
SR00026364 Atish Dagadu Kedari Active
SR00026748 Abhiraksha Consultanats Active
SR00026749 Aadhar Sunish Kumar Chadha Active
SR00026948 Swapnali Prasad Bhumkar Active
SR00027271 Abhinav Sudhir Avasare Active
SR00027282 Tatiparti Venkata S Sarma 0
SR00027302 Nandu Dattu Gaikwad 0
SR00027303 Pradip Ganeshrao Kendhale Active
SR00028256 Sandip Dattatray Tamhane Active
SR00028388 Priyanka Prashant Gaikwad Active
SR00028389 Saswadkar Janardan Sahadu Active
SR00028390 Nitin Nandkishor Dalvi Active
SR00028391 Kavita Kishor Gade Active
SR00028441 Hinge Ashish Active
SR00028442 Pitale Govind Venkuram In-Active
SR00028443 Uttekar Rupali Mahesh Active
SR00029254 JITENDRA MUKUND BHALERAO 0
SR00029640 GIRISH MADHUSUDAN WANAVE Active
SR00029641 LOTHIKA LAGAD Active
SR00029724 RAJENDRA DESAI Active
SR00029738 AMOL SANJIV PATIL 0
SR00029931 YEWALE SANTOSH VITTHAL 0
SR00030768 CHANDRASHEKHAR KULKARNI 0
SR00030770 PRAGMIC CONSULTANCY Active
SR00030771 PUNAM MANGESH KUMBHAR Active
SR00030856 RUNAL RAVINDRA KULKARNI Active
SR00030858 SACHIN O MALASANE In-Active
SR00030879 RACHCHA SANKET DATTATRAY In-Active
SR00031256 GAVALI RAMESH DHONDIRAM 0
SR00031257 SUKHADA RAKESH KHANDARE 0
SR00031258 PRATIK MANOHAR THEURKAR 0
SR00003616 Kalyan Sandipan Karale In-Active
SR00004108 MAHAJAN MAHESH SHRIRAM In-Active
SR00005811 Shinde Santosh Ganpatrao Active
SR00006300 Priyanka Ravindra Gugale 0
SR00006339 Kiran Namdeorao Dhamdhere In-Active
SR00008176 Amarnath Arun Joshi Active
SR00008517 Sham Chandrakant Band 0
SR00008970 Kumthekar Sudhakar 0
SR00009236 UKIRDE SANTOSH R Active
SR00009498 Anil Kumar Thakre Active
SR00009571 More Deepak Balasaheb 0
SR00009596 Tejashri Vishnu Mali In-Active
SR00009634 Prashant Shinde 0
SR00009818 Ajay Vijay Shere 0
SR00010873 Kumbhare Yogesh Vishnu Active
SR00011200 Atul Hanuman Awhale 0
SR00011636 Rokade Vinit Vishnu Active
SR00012045 Ajay Sharma Active
SR00012200 Deole Tejas Surendra Active
SR00012565 Aniruddha Subhash Khandekar 0
SR00012745 Anuja Vitthal Palande 0
SR00016635 Ganesh Dnyaneshwar Sathe 0
SR00017579 SHAHAJI HARIBHAU PAWAR In-Active
SR00018267 Chaugule Pravin Sambhaji Active
SR00018523 Tejas Ankush Waghmare Active
SR00018610 Pramod Shivnath Raut In-Active
SR00018990 Vitthal Vishwambhar Sakhare Active
SR00018991 Thorat Ashok D 0
SR00019021 Shivaraj U Desai In-Active
SR00021603 Sushil Vinayak Jadhav In-Active
SR00030433 HANUMANT BHAURAO GAIKWAD Active
SR00030434 PRAVIN LAHU KAMBLE Active
SR00030451 VATAN DUPARGUDE Active
SR00030452 KUNAL AMUKSHIDHA SOLUNKI Active
SRCV000589 Sujata Navneet Gujar Active
 BIBLIOGRAPHY

 https://www.bajajallianz.com/Corp/aboutus/general-insurance-company.jsp#About-Us
 Bajaj Allianz -Employee handbook