Submitted by:Kritika Verma BBA (B&I)-3rd Semester Roll No. – 0131491806

Guided by:Mr. Lokesh Jindal Lecturer, Department of Business Administration. Submitted to:-

An ISO 9001:2000 Certified Institute Recognised by UGC u/s 2(f) (Affiliated to Guru Gobind Singh Indraprastha University) C-4, Janak Puri, New Delhi-110058


This is to certify that the project entitled “THE STUDY OF TATA AIG AND THE CANDIDATE SELECTION PROCESS INVOVLED” submitted to MAHARAJA SURAJMAL INSTITUTE (Guru Gobind Singh Indraprastha University) in partial fulfillment for BBA Course has been carried out under my supervision.

Project Guide: Mr. Lokesh Jindal Lecturer, Department of Business Administration Maharaja Surajmal Institute, Janakpuri, New Delhi-110058



I would like to thank and dedicate this project to my project guide Mr. Lokesh Jindal , for giving me his unwavering support with which I was able to complete the project. It was a nice experience of learning and I gained a lot of knowledge by working under his kind supervision. I would like to give a special acknowledgement and thanks to all those, without whom this project could not have been possible.

Kritika Verma


Table of contents

Chapters 1. Introduction
1.1 1.2 1.3 1.4


Page no.
5-10 6 7 8 10 11 36 39 41 43

Preface Objectives of the study Research Methodology Limitations of the study

2 3 4

Profile of the organisation Analysis Conclusions Bibliography Annexures



in order to survive the growing competition is in a unique position to leverage its expertise and scale. questionnaires were used as a powerful tool and interviews and discussions were conducted. A lot of market surveys were undertaken for person to person contacts and the method of telecalling was also used which required a lot of time & energy besides persuasive skills. The company is seeking new channels for its services and opportunities to reach to more and more patrons. Tata AIG Life Insurance Company Ltd. And both looking for ways to increase their clientele and services to increase their business. 6 . The company.PREFACE Everyone these days needs insurance. So the whole country has become the market place for insurance companies. To achieve this objective. now provides new value-added services and ways in order to make the sphere of their clientele wider and wider. Private Indian companies and foreign ones are so numerous at present that there is a cut-throat competition environment. This project was undertaken in order to select persons from various fields.

The Other objectives would be: • • • Analysis of positive and negative things about the various means used to carry out the recruitment process. Finally to conclude the findings and suggest the necessary corrective measures and recommendations regarding the future growth prospects. To see the availability of people and their willingness to indulge themselves in a part time career opportunity.OBJECTIVES OF THE RESEARCH The primary objective would be-: • The main purpose of the project is to study the working of TATA AIG LIFE INSURANCE and to design out candidate selection process for insurance advisor program. 7 .

RESEARCH METHODOLOGY TYPES OF DATA Two types of data:  PRIMARY DATA  SECONDARY DATA PRIMARY DATA: Primary data is the kind of data. The method of sampling was the random convenient sampling method. Reports. internet and various publications. The researcher of the report also visited various libraries for collection of the introduction part. both in terms of money and time spent. SECONDARY DATA: When an investigator uses the data that has been already collected by others is called secondary data. 8 . which is collected by the investigator himself for the purpose of the specific study. yellowpages. A set of Questions was put together in the form of two questionnaires . The advantage of this method of collections authentic. The data such collected is original in character. The researcher of the report also did the same and collected secondary data from various Internet sites like google. The advantages of the secondary data can be it is economical.com and many more.com. The secondary data could be collected from journals.

9 .I. Sample size. M. road etc. which has been covered. is 50. Bani park.DATA COLLECTION   Data collected from various places such as Connaught place.  Other information related to project has been taken from company website.

LIMITATIONS OF THE STUDY • • The study results can be better applied to comparable cities and situations. • Personal biases of respondents may also act as hindrance towards clear picture of study. the opinions and beliefs of respondents may not represent true universe. • While an attempt has been made to explore the scope. the competition and customers. developing the marketing plan for the company would require a great deal more expertise and experience. As the sample size is small. • The study was taken up in one city only and the responses may not be applicable to other cities or states. 10 .



and Communications & IT. Engineering. From there. it has evolved into a truly diversified conglomerate spanning. including: India's first private sector steel mill. first private sector power utility. amongst others. With more than 220. The Tata Group is one of India’s best-known industrial groups with an estimated turnover of around US $14. was founded by Jamsetji Tata and began with a textile mill in central India in the 1870s. among other sectors. first luxury hotel chain and first international airline. Energy. including: 13 . Chemicals. The Tata Group pioneered several firsts in Indian industry firsts.THE TATA GROUP The Tata Group. Asia's largest software and services company. Recently. and Tata Motors. The Tata Group stable of brands also includes many national and some internationally renowned product and service brands.000 employees across 91 major companies. it is also India’s largest employer in the private sector. easily India's most recognized business group. the Tata Group's pioneering spirit has been showcased by companies such as Tata Consultancy Services (TCS).25 billion (approximately 26% of India’s GDP). the first car maker in a developing country to design and produce a car from the ground up. Consumer Products.

best illustrated by the path-breaking creation of the Indica. The Taj Group of Hotels (Luxury. for the ownership and operation of the renowned Taj Mahal Palace and Tower. Since then the company has expanded its passenger cars portfolio. India's largest automobile company. which now also boasts the Indigo. Mumbai. and the Indigo Marina. a sedan.Tata Motors (multi-utility cars) Tata Motors. a hatchback that was the country's first indigenously designed and manufactured car. Business and Leisure) Jamsetji Nusserwanji Tata. a station wagon. Indian Hotels and its subsidiaries are 14 . Tata Motors (Passenger Cars) Tata Motors has a pioneering presence in India's automobile industry. manufactures two kinds of multi-utility vehicles: the well-appointed Tata Safari and practical Tata Sumo. 1902. incorporated the Indian Hotels Company on April 1. the founder of the Tata Group.

form the largest hotel chain in India Tata Tea & Tetley The Tata Group runs the world's second-largest branded tea operation. Tata Group enterprises are also involved in the production of food additives and spices. Tata Salt is the No 1 food brand among India's most trusted brands. Tata Salt Besides tea and coffee. Tata Salt contains the right amount of iodine. 15 . Tata Tea and Tata Tetley are the two companies that power the group's leadership drive in the worldwide tea industry. together. Moreover.collectively known as Taj Hotels Resorts and Palaces and. India's most preferred salt is one of the purest available in the country. vital for physical and mental growth and development.

The company makes about 7 million watches and clocks every year and has a customer base of some 60 million. It has 74 boutiques in 55 cities across the country 16 . Tanishq Tanishq. is India's largest jewellery brand. It enjoys over 50 per cent market share in India's organized watch segment.Titan Titan Industries is India's leading manufacturer of watches and the world's sixth largest manufacturer brand of watches. a division of Titan Industries.

and its store portfolio comprises clothes and accompaniments for men. women and children. retails garments and household accessories. Tata Shaktee. By combining ethical values with business acumen. 17 . It has a team of dedicated merchandisers. Tata Tiscon. Tata Bearings and Voltas. the Tata Group aims to be the largest and most respected global brand from India whilst fulfilling its long-standing commitment to improving the quality of life of its stakeholders. cosmetics and perfumes.Westside (Garment Retail Outlet) Trent. store staff and in-house designers. Westside is among the fastest-growing retail chains in India. The chain also sells household accessories. globalization with national interests and core businesses with emerging ones. Set up in 1998. the Tata Company that owns and operates the Westside chain of lifestyle stores. The other products and brands are: Tata Steelium.

In the United States. AIG's financial services businesses include aircraft leasing. with specialized investment management capabilities in equities. and asset management. AIG member companies serve commercial.THE AIG GROUP American International Group. with operations in more than 130 countries and jurisdictions. AIG's global businesses also include retirement services. 18 . financial services. financial products. AIG also has one of the largest U. American General Finance leads AIG’s growing global consumer finance business in the United States. alternative investments and real estate. fixed income. and is a leader in asset management for the individual and institutional markets. AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked insurer. Inc. institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. is the world's leading international insurance and financial services organization. retirement savings businesses through AIG SunAmerica and AIG VALIC.S. trading and market making.

Tata AIG Life Insurance Company Ltd. 2001. and accident and health n travel. It represents the trust and integrity of TATA group combined with the international expertise and financial strength of AIG. is India's leading insurance company providing both Life and General Insurance. property and casualty. marine n contingency. travel. home. property. marine. 19 . Inc. energy. health. as well as several specialized financial lines. For individuals: motor. The Tata Group holds 74 per cent stake in the two insurance ventures while AIG holds the balance 26 per cent stake. personal accident. Inc. travel. (AIG). Tata AIG General Insurance Company. energy. is a joint venture of the Tata Group and American International Group. For Corporate: accident n health. offers the complete range of insurance for automobile. which started its operations in India on January 22.TATA AIG Tata AIG Life Insurance Company Ltd.


to regulate. promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto. The way RBI controls all the banks. The qualifications necessary before a license can be given are that the person must:  Be at least 18 years old  Have passed at least the 12th standard or equivalent examination  Have undergone practical training for at least 100 hrs in life or general insurance business  Have passed the pre-recruitment examination conducted by the IRDA. IRDA NORMS FOR TRAINING AS A FINANCIAL ADVISOR • • A financial advisor must possess a license issued by IRDA. It includes registrations. licensing and laying down regulations for proper conduct of business. in the same manner IRDA takes control of all the insurance companies.ABOUT IRDA IRDA is a government body that protects the interests of the policyholders. 21 .

” Payable at New Delhi.Demand Draft favoring “Tata AIG Life Insurance company Ltd. 1000/. 22 .DOCUMENTS REQUIRED On the time of the registration. the candidate has to bring along a list of documents. These are: • • • • • • 6 photographs Identification proof Date of birth proof Highest Education proof Residence proof Rs.

Unit Linked Insurance Plan: This highly flexible plan gives you full life cover AND high returns AND the flexibility of deciding the length of your life cover term. The various products offered are: • Invest assure. the amount of cover you receive & where the rest of your premium is invested. 23 .PRODUCT PROFILE OF TATA AIG PRODUCTS Tata AIG Life Insurance Company specializes in helping their customer in fulfilling their future financial goals and builds an extra security cover for their family and loved ones.

• Educare: This first of its kind juvenile endowment policy is geared toward funding your child’s education.• Mahalife: This exceptional policy ensures that you have a steady income and insurance coverage for life! Premiums are payable only for the first 12 years. depending on your child’s needs. 24 . You can choose between Assure Educare 18 and Assure Educare 21. You can even use this to create a steady stream of post retirement income. • Shubh Life: This plan provides you 100% life insurance protection and high returns on your investment but the premiums you pay are among the lowest of any similar endowment policy.

• Nirvana & Nirvana Plus: This is India’s first and only pension policy with a guaranteed addition of 10 percent of sum assured every 5 years. You can choose from three levels of cover. You get the dual benefits of life insurance coverage plus the flexibility of periodic payments. and also decide the age you want to retire.• Money Saver Plan : This savings plan provides you with cash payments in the form of survival benefits at regular intervals to fund your child’s needs at critical milestones or support your financial obligations. • Starkid: An exceptional endowment policy that ensures you can afford to give your child the very best for his career & marriage. 25 .

26 . Health Protector is the first product of its kind in India that offers you protection in case ANYONE in your family has an accident or falls ill.• Health Protector: The average cost for a major surgery or treatment in hospital is between three to five lakh.

Mr. Managing Director. Tata AIG Life Insurance Co. 27 . is expecting a 85-90% growth in its total premium income in 06-07. Profit from General Insurance for 05-06 is estimated to be 13. currently dominated by the Life Insurance Corporation. Tata AIG. Tata AIG has 85 offices in cities. Trevor Bull.6 crore. and would be opening 20-25 new offices during 06-07 to cater to a larger customer base. estimated that by 2007.MARKET SHARE OF TATA AIG TATA AIG Life Insurance Company has said that it aimed to be the number-two private player in the life insurance industry with a market share of 20 per cent by 2007. private players would have about 40 per cent of the total life insurance market.

The person receives World-Class training while the marketing & management support ensures their success. our main aim is to look out for eligible candidates who have the time to devote and desire to earn money and then recruit and select them as financial advisors. Tata AIG is looking for insurance advisors to give advice and sell insurance. 28 . Tata AIG Life. Inc. a company that combines the trust and integrity of the Tata Group with the expertise & financial strength of American International Group. And it pays as much as one wants it to.JOB DESCRIPTION The objective is to design out candidate selection process for insurance advisor program. So.

if eligible. 29 . We were supposed to make calls to people. make them aware of this opportunity and arranging appointments with our manager. Here. for the offered work. For this.. undertaking surveys. etc. they were interviewed and later on selected. not only will they earn a lot. they will be recruited and selected as Financial Advisors. wherein. After this. we collected data through various means and some of it was provided by the company as well. but the growth prospects would also be open to them.DETAILED JOB PROFILE The project required me to approach people and make them aware of the part-time business opportunity that Tata AIG is offering.

Our project in Tata AIG involved the following tasks:  Recruitment: ways. sources and means  Selection Criteria  Selection Procedure 30 .

31 . we have followed a series of processes in selection of a Financial Advisor. It can also be defined as: It is the process of differentiating between applicants in order to identify (and hire) those with a greater likelihood of success in a job. at Tata AIG. Here.THE SELECTION PROCESS SELECTION PROCESS Selection is the process of picking individuals (out of the pool of job applicants) with requisite qualifications and competence to fill jobs in the organization.

if he has a natural market he can sell insurances to them also.CRITERIA FOR SELECTION • Stability in Delhi: The person should be a stable Delhi resident. The person who is to be selected as an insurance advisor. • Natural Market: This also is a very important factor. 32 . This ensures his having a good number of contacts & an amount of trust that people build over a person. • • Time: The candidate should have enough time and proper focus for the training as well as for the work. Desire to earn money: This is a factor that a candidate must certainly possess. It would motivate him to give out more and more business & if he will have a desire to earn money he would be more devoted toward his work.

following steps were followed by us in the selection of a financial advisor: • Candidate’s profile sheet: As soon as the candidate comes. to give a brief detail about the BA Model and the work of a Financial Advisor. he is made to feel comfortable and then is given a candidate registration form to fill. • Preliminary interview: This is done to eliminate the candidates who are not found to be appropriate for the job. 33 . if worked earlier.SELECTION PROCEDURE PROCEDURE At Tata AIG.g. • Career Opportunity Path (COP): A seminar is held. Since how long he’s been residing in Delhi His qualification His experience. For e. This seminar is followed by some tea and snacks for the invitees. etc. The candidate is supposed to fill this form to provide us with his basic personal information. :     Candidate’s address. He is also notified about all the details of the benefits he would get out of his job.

etc. & It helps build Company’s image among the applicants.  • • Selection Decision: The person is analyzed by the Manager on the basis of the above stages and is then finally selected for the job. university professors. It facilitates giving general information to applicant such as. References: Candidate is also asked for references. known public figures. These are required so that. Previous employers. neighbors or friends can act as references. we would need to confirm his information provided by him.to-one interview with the Manager.• Interview: Once the capable candidates are selected amongst all.. 34 . once we register the selected candidate with us. This is carried on because :   It helps in obtaining additional information from applicant. they are called for a One. job. company policies.

and submit his required documents. the registration is done. The candidate is asked to fill a NAAF. When a candidate fulfills all the above criteria. 35 .• Registration: This is the final step. New Agent Application Form.


It gives Ist year highest commission. Strengths: • • • • • • • • Tata AIG has the strong brand name of TATA & AIG with it. It ensures a long-term growth for the insurance advisors. Opportunities and Threats) is a tool used to provide a general or details snapshot of a company’s health.SWOT ANALYSIS OF TATA AIG SWOT ANALYSIS A SWOT (Strengths. 37 . ( Advisor to Business Associate to a Senior Business Associate & finally to a Managerial Business Associate) Tata AIG has a good reputation among customers. Tata AIG has a strong training support Tata AIG is the only Insurance Company in the world rated AAA by SWP. It is the only company that provides whole infrastructure to new advisors. Weaknesses. An effective SWOT analysis will help determine in which areas a company is succeeding. It offers a good career path for advisors. allowing it allocate resources in such a way as to maintain any dominant positions it may have.

OPPORTUNITIES: • • Tata AIG provides protection against financial loss & helps in future planning. also stands as a hindrance for people who are interested to become insurance advisors 38 . THREATS: • • Because of the mushrooming of the private insurance companies.WEAKNESS: • • Tata AIG is conservative in the context of advertising. They also provide additional rewards for advisors. It is an underwritten driven company. there is increased competition. The training period of 18 working days/100 hrs and the fee of 1000/-.


In view of the competition. is busy in recruiting and selecting insurance advisors tactfully. The Tata AIG is one of the most prominent insurance companies with international expertise and experience. it has become extremely competitive. a multinational insurance concern.CONCLUSION With introduction of the foreign sector in the field of Insurance. the prospective customers – to persuade them and convince them about future benefits of the insurance scheme. 40 . Insurance involves tiring field work and tele contacting. skillfully and with expertise. especially in the private sector. The Tata AIG. makes efficient sales team effort with expertise and acumen to create excellent customer relationship management with great online support and personal contacts. the Tata AIG.


Rebecca Mazin .aig. Tata McGrawHill Publishing Company Limited.Business & Economics Philip Kotler. “Marketing Management”. “Human Resource and Personnel Management”. Prentice-Hall of India Pvt.com www.bibiliography The various books that I had consulted for the successful completion of my summer training project are listed below.tata-aig/life. New Delhi Shawn A Smith.com www.tata..com 42 . Ltd. New Delhi We visited the following sites: www. Aswathappa. These are: K.

ANNEXURE QUESTIONNAIRES • Questionnaire 1: Market Research survey • Questionnaire 2: Market Survey 43 .

of Management. Are you satisfied with the earnings? (a) (b) Yes…………. How long you are involved in this job/business? Q3. Kindly cooperate and give us the information..Designation…………… Student…………………….Service…………………….. We are conducting a market survey to understand the job and business market and the satisfaction with the same. (b) Automobile (d) Education 44 .MARKET RESEARCH SURVEY DEAR SIR/MADAM We are the students from New Delhi Inst. Q4. No………….Qualification…………… Q2. Would you like to involve yourself in some other job/ Business as a part time work? (a) Yes (b) No Q5. Q1.. What is your current source of earning? (a) (b) (c) Business………………………………………………… . Which is the best and fastest growing Industry today to join as part time? (a)Insurance (c)Banking & Finance (e)Others………………….

Do you feel that CP is still better shopping area than any other shopping Mall in Delhi/ NCR? Yes say 4. Do you feel that Metro services have increased the Footfall / visits in your show room? Yes No Don’t Know / can’t say 2. Do you feel there is an increase in Sales volume due to Metro Services? Yes No Don’t Know / can’tsay 3. Kindly spare a few minutes to help us taking your feedback. 1. We are doing a survey on Impact of METRO Services at CP are.MARKET SURVEY Dear Sir / Madam We are the students of New Delhi Institute of Management. What do you suggest to improve the quality of shopping experience at CP? ………………………………………………………………………………………… ………………………………………………………………………………………… ………………………………………………………………………………………… ……………………………………………………………………………… No Don’t Know / can’t Basic Details: 45 .

.Name of Owner / Manager: …………………………………………………………. Contact No .………………………………………………………………………….…………………………… THANK YOU!! 46 .……………………………………Mobile . Outlet Name.

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