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Submitted By TANU SHARMA Roll No. M0957 Batch No. 2009-2011 (MBA IIIrd Sem.)

R. P. INDERPRASTHA GROUP OF INSTITUTIONS (Approved by AICTE,HRD Ministry, Govt. of India)Affilated to Kurukshetra University, Kurukshetra.


1.1 Brief history of insurance sector in India
1.1.1 Indian Insurance Industry 1.1.2 Functions of insurance 1.1.3 Present scenario 1.1.4 Non life insurance market 1.1.5 Re insurance business 1.1.6 Life insurance market 1.1.7 The insurance regulatory and development authority (IRDA) 1.1.8 Insurance companies

1.2 Objective of the study 1.3 Research Methodology of the study

1.3.1 1.3.2 Nature of research Sample size

1.3.3 Determining sources of data Sample design

1.3.4 Questionnaire

1.3.5 Limitations

Profile of Organization

Training & Development Program done by Bharti AXA Life Insurance at Various Levels







(TANU SHARMA) Roll no. M0957 RPIIT

It is my pleasure to thank to various respected persons who directly or indirectly guide, help, motivate and provide knowledge to me time to time for the development of this project. I would like to express my sincere gratitude to Mr. Bhupinder Rana (Branch Manager) & Mr. Sanjay Kamboj (Area Manager) who directly guide to me time to time about how to make this project more effective. I am also very thankful to respected Mrs. Priyanka for giving me this to topic to do deep study and guidance regarding training and project report Lastly, I also want to thank to all the emloyees of BHARTI AXA LIFE INSURANCE (Karnal Branch), my parents for their moral support and my friends with whom I shared

my day-to-day experience and received lots of suggestions that improved my quality of work.




The insurance sector in India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again.

Tracing the developments in the Indian insurance sector reveals the 360-degree turn witnessed over a period of almost 190 years.

The business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta. Some of the important milestones in the life insurance business in India are: 1912 - The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. 1928 - The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses. 1938 - Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public. 1956 - 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India. The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British. Some of the important milestones in the general insurance business in India are: 1907 - The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business. 1957 - General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices.

1968 - The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up. 1972 - The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and grouped into four companys viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.

Indian Insurance Industry:

Learn about Insurance may be described as a social device to reduce or eliminate risk of life and property. Under the plan of insurance, a large number of people associate themselves by sharing risk, attached to individual.

The risk, which can be insured against include fire, the peril of sea, death, incident, & burglary. Any risk contingent upon these may be insured against at a premium commensurate with the risk involved.

Insurance is actually a contract between 2 parties whereby one party called insurer undertakes in exchange for a fixed sum called premium to pay the other party happening of a certain event. Insurance is a contract whereby, in return for the payment of premium by the insured, the insurers pay the financial losses suffered by the insured as a result of the occurrence of unforeseen events. With the help of Insurance, large number of people exposed to a similar risk makes

contributions to a common fund out of which the losses suffered by the unfortunate few, due to accidental events, are made good.

Functions of Insurance The functions of Insurance can be bifurcated into two parts:
Primary Functions Secondary Functions Other Functions

The primary functions of insurance include the following:

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


The secondary functions of insurance include the following:

Prevention of Losses - Insurance cautions individuals and businessmen to adopt suitable device to prevent unfortunate consequences of risk by observing safety instructions; installation of automatic sparkler or alarm systems, etc. Prevention of losses cause lesser payment to the assured by the insurer and this will encourage for more savings by way of premium. Reduced rate of premiums stimulate for more business and better protection to the insured. Small capital to cover larger risks - Insurance relieves the businessmen from security investments, by paying small amount of premium against larger risks and uncertainty. Contributes towards the development of larger industries - Insurance provides development opportunity to those larger industries having more risks in their setting up. Even the financial institutions may be prepared to give credit to sick industrial units which have insured their assets including plant and machinery.









Means of savings and investment - Insurance serves as savings and investment, insurance is a compulsory way of savings and it restricts the unnecessary expenses by the insured's For the purpose of availing income-tax exemptions also, people invest in insurance. Source of earning foreign exchange - Insurance is an international business. The country can earn foreign exchange by way of issue of marine insurance policies and various other ways.


Risk Free trade - Insurance promotes exports insurance, which makes the foreign trade risk free with the help of different types of policies under marine insurance cover. The end of the year 2000 marks a significant change and growth of 'India Insurance' industry scenario. Monopoly of Public Sector Insurance company marks an end and Private companies makes inroad. Foreign companies, both Life and General flocked, collaborated and helped astronomical growth of 'Insurance Industry in India'. 'India Insurance' growth was long overdue. Within 1st 12 months of liberation of 'Indian Insurance Industry' 10 licenses for selling life insurance products and 6 licenses for selling non-life products were issued to private companies. The Public sector giant LIC started losing its market share at the cost of stupendous growth of private players. Now 'India Insurance' industry has more than a dozen private life insurance players and 9 private general insurance companies. Aggressive and penetrative marketing strategy coupled with wide product bandwidth was an instant success among the ignorant masses. Most of the private companies registered more than 100% growth till then and are still continuing with such monstrous growth figures. Although, 'Insurance in India' is not regarded as a basic need but it is getting popular among semi urban to rural masses. Top rank private companies like ICICI Prudential Life Insurance, Tata AIG, Bajaj Allianz etc are aggressively researching and innovating products for huge untapped rural 'India Insurance' market. Collaboration with micro finance companies, post offices, rural banks and village management authorities for selling insurance is doing wonders. Life insurance products cover risk for the insurer against eventualities like death or disability. Non-life insurance products cover risks against natural calamities, burglary, etc. They are not as popular as life products in the ' Insurance India's' portfolio. Until very recently it had only corporate buyers, but with natural disasters like, earth quakes, tsunamis, storms and floods becoming more frequent and damaging there has been a sudden spurt in sales of general insurance amongst individuals. Consumerism of life style


goods and modern amenities has also contributed to its growth. With more awareness and wide bandwidth of insurance product portfolio the growth for 'India Insurance' story will only get more competitive and more affordable to all sections of Indian society.

Present Scenario
The Government of India liberalized the insurance sector in March 2000 with the passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions for private players and allowing foreign players to enter the market with some limits on direct foreign ownership. Under the current guidelines, there is a 26 percent equity cap for foreign partners in an insurance company. There is a proposal to increase this limit to 49 percent. The opening up of the sector is likely to lead to greater spread and deepening of insurance in India and this may also include restructuring and revitalizing of the public sector companies. In the private sector 12 life insurance and 8 general insurance companies have been registered. A host of private Insurance companies operating in both life and non-life segments have started selling their insurance policies since 2001.

Non-Life Insurance Market

In December 2000, the GIC subsidiaries were restructured as independent insurance companies. At the same time, GIC was converted into a national re-insurer. In July 2002, Parliament passed a bill, delinking the four subsidiaries from GIC. Presently there are 12 general insurance companies with 4 public sector companies and 8 private insurers. Although the public sector companies still dominate the general insurance business, the private players are slowly gaining a foothold. According to estimates, private insurance companies have a 10 percent share of the


market, up from 4 percent in 2001. In the first half of 2002, the private companies booked premiums worth Rs 6.34 billion. Most of the new entrants reported losses in the first year of their operation in 2001. With a large capital outlay and long gestation periods, infrastructure projects are fraught with a multitude of risks throughout the development, construction and operation stages. These include risks associated with project implementation, including geological risks, maintenance, commercial and political risks. Without covering these risks the financial institutions are not willing to commit funds to the sector, especially because the financing of most private projects is on a limited or non- recourse basis. Insurance companies not only provide risk cover to infrastructure projects, they also contribute long-term funds. In fact, insurance companies are an ideal source of long term debt and equity for infrastructure projects. With long term liability, they get a good asset- liability match by investing their funds in such projects. IRDA regulations require insurance companies to invest not less than 15 percent of their funds in infrastructure and social sectors. International Insurance companies also invest their funds in such projects. Insurance costs constitute roughly around 1.2- 2 percent of the total project costs. Under the existing norms, insurance premium payments are treated as part of the fixed costs. Consequently they are treated as pass-through costs for tariff calculations. Premium rates of most general insurance policies come under the purview of the government appointed Tariff Advisory Committee. For Projects costing up to Rs 1 Billion, the Tariff Advisory Committee sets the premium rates, for Projects between Rs 1 billion and Rs 15 billion, the rates are set in keeping with the committee's guidelines; and projects above Rs 15 billion are subjected to re-insurance pricing. It is the last segment that has a number of additional products and competitive pricing.


Insurance, like project finance, is extended by a consortium. Normally one insurer takes the lead, shouldering about 40-50 per cent of the risk and receiving a proportionate percentage of the premium. The other companies share the remaining risk and premium. The policies are renewed usually on an annual basis through the invitation of bids. Of late, with IPP projects fizzling out, the insurance companies are turning once again to old hands such as NTPC, NHPC and BSES for business.

Re-insurance business
Insurance companies retain only a part of the risk (less than 10 per cent) assumed by them, which can be safely borne from their own funds. The balance risk is re-insured with other insurers. In effect, therefore, re-insurance is insurer's insurance. It forms the backbone of the insurance business. It helps to provide a better spread of risk in the international market, allows primary insurers to accept risks beyond their capacity, settle accumulated losses arising from catastrophic events and still maintain their financial stability. While GIC's subsidiaries look after general insurance, GIC itself has been the major reinsurer. Currently, all insurance companies have to give 20 per cent of their reinsurance business to GIC. The aim is to ensure that GIC's role as the national reinsurer remains unhindered. However, GIC reinsures the amount further with international companies such as Swissre (Switzerland), Munichre (Germany), and Royale (UK). Reinsurance premiums have seen an exorbitant increase in recent years, following the rise in threat perceptions globally.

Life Insurance Market


The Life Insurance market in India is an underdeveloped market that was only tapped by the state owned LIC till the entry of private insurers. The penetration of life insurance products was 19 percent of the total 400 million of the insurable population. The state owned LIC sold insurance as a tax instrument, not as a product giving protection. Most customers were under- insured with no flexibility or transparency in the products. With the entry of the private insurers the rules of the game have changed. The 12 private insurers in the life insurance market have already grabbed nearly 9 percent of the market in terms of premium income. The new business premium of the 12 private players has tripled to Rs 1000 crore in 2002- 03 over last year. Meanwhile, state owned LIC's new premium business has fallen. Innovative products, smart marketing and aggressive distribution. That's the triple whammy combination that has enabled fledgling private insurance companies to sign up Indian customers faster than anyone ever expected. Indians, who have always seen life insurance as a tax saving device, are now suddenly turning to the private sector and snapping up the new innovative products on offer. The growing popularity of the private insurers shows in other ways. They are coining money in new niches that they have introduced. The state owned companies still dominate segments like endowments and money back policies. But in the annuity or pension products business, the private insurers have already wrested over 33 percent of the market. And in the popular unit-linked insurance schemes they have a virtual monopoly, with over 90 percent of the customers. The private insurers also seem to be scoring big in other ways- they are persuading people to take out bigger policies. For instance, the average size of a life insurance policy before privatization was around Rs 50,000. That has risen to about Rs 80,000. But the private insurers are ahead in this game and the average size of their policies is around Rs 1.1 lakh to Rs 1.2 lakh- way bigger than the industry average.


Buoyed by their quicker than expected success, nearly all private insurers are fastforwarding the second phase of their expansion plans. No doubt the aggressive stance of private insurers is already paying rich dividends. But a rejuvenated LIC is also trying to fight back to woo new customers.



Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies. The other decisions taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies were the launch of the IRDAs online service for issue and renewal of licenses to agents. The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained workforce of insurance agents in place to sell their products. Since being set up as an independent statutory body the IRDA has put in a framework of globally compatible regulations. In the private sector 12 life insurance and 6 general insurance companies have been registered.


IRDA has so far granted registration to 12 private life insurance companies and 9 general insurance companies. If the existing public sector insurance companies are included, there are currently 13 insurance companies in the life side and 13 companies operating in general insurance business. General Insurance Corporation has been approved as the "Indian reinsurer" for underwriting only reinsurance business. Particulars of the life insurance companies and general insurance companies including their web address are given below:

LIFE INSURERS Public Sector Life Insurance Corporation of India Private Sector Allianz Bajaj Life Insurance Company Limited Birla Sun-Life Insurance Company Limited HDFC Standard Life Insurance Co. Limited ICICI Prudential Life Insurance Co. Limited ING Vysya Life Insurance Company Limited



Max New York Life Insurance Co. Limited MetLife Insurance Company Limited

Om Kotak Mahindra Life Insurance Co. Ltd. SBI Life Insurance Company Limited TATA AIG Life Insurance Company Limited AMP Sanmar Assurance Company Limited Dabur CGU Life Insurance Co. Pvt. Limited


Public Sector National Insurance Company Limited New India Assurance Company Limited Oriental Insurance Company Limited United India Insurance Company Limited


Private Sector Bajaj Allianz General Insurance Co. Limited ICICI Lombard General Insurance Co. Ltd. IFFCO-Tokio General Insurance Co. Ltd. Reliance General Insurance Co. Limited Royal Sundaram Alliance Insurance Co. Ltd. TATA AIG General Insurance Co. Limited Cholamandalam General Insurance Co. Ltd. Export Credit Guarantee Corporation




The Research and Methodology adopted for the present study has been systematic and was done in accordance to the objectives set which has been detailed as below.

Research Definition
Research is a process in which the researcher wishers to find out the end result for a given problem and thus the solution helps in future course of action. According to Redman & Mory research is defined as a Systemized effort to gain new knowledge.

Research Design:
According to Claire Seltiz, a research design is the arrangement of condition and analysis of data in manner that aims to combine relevance to the research purpose with economy in procedure.


Research is basically of two types. 1. Descriptive research


2. Explorative research

Descriptive Research: These studies are concerned with describing the

characteristic of a particular individual or a group.


Total sample size is 50


There are two main sources of data 1. Primary data 2. Secondary data

Primary Data: It consists of original information collected for specific research.

Primary data for this research study was collected through a direct survey to obtain this primary data a well structured questionnaire was prepared by the researcher.

Secondary Data: It consists of information that already exists somewhere and has
been collected for some specific purpose in the study. The secondary data for this study is collected from various Japanese Management books.

1.3.4 QUESTIONNAIRE Questionnaire: A set of questions containing a few Technical questions and more
number of opinionated questions are prepared for the employees of both Centralized and Decentralized sections of HR Department. Questionnaire Development: Questionnaire is the most common instrument in collecting primary data. In order to gather primary data from viewers.


The present questionnaire consists of following type of questions. Open ended questions Closed ended questions Dichotomous questions Multiple choice questions Ranking question.

Open ended questions: It has no fixed alternatives to which the answer must
conform. Thus, respondent answer in his/her own words at any length they choose.

Closed ended questions: Closed ended questions have no other options other than
the selecting the one that close matches the respondents opinion or attitude.

Dichotomous questions: A dichotomous questions refers to one, which offers the

respondents a choice between only two alternatives.

Multiple Questions: A multiple choice question refers to one, which provides several
sets of alternatives for the respondents choice.

Ranking questions: These questions are given when there are many points to be
considered and to be ranked in priority.


1. The survey was conducted within the company. 2. And in survey I have to interact with the employees. But the employees will be busy their works. 3. Getting the good response from the employee will be difficult because of their busy schedule. 24

4. Time to interact with employees inside the branch is not sufficient.





Bharti AXA Life Insurance is a joint venture between Bharti, one of Indias leading business groups with interests in telecom, agri business and retail, and AXA, world leader in financial protection and wealth management. The joint venture company has a 74% stake from Bharti and 26% stake of AXA. The company was incorporated on 13th July 2007. Headquartered in Bangalore, the company currently has 30 branches across India. With a vision to become the leader and preferred company for financial protection in India, Bharti AXA General Insurance offers its customers - individuals and businesses- a wide range of products and services that meet their insurance needs. The company launched national operations in December 2006. Today, we have over 5200 employees across over 12 states in the country. Our business philosophy is built around the promise of making people "Life Confident". The company will leverage the Bharti Groups large customer pool and develop a strong multi channel distribution network in both urban and rural markets. With a customer commitment to provide Fast, Fair & Friendly service in all aspects of business, the company offers transparency, structured customer support and trained manpower, backed by a robust IT platform. The companys claims philosophy is to offer prompt and hassle free claims service that deals with the claims process with empathy. The Management team at Bharti AXA General Insurance consists of experienced leaders who are passionate about their companys vision and goals and are committed to the development of Bharti AXA General Insurance as the preferred company for Financial Protection in India. As we expand our presence across the country to cater to your insurance and wealth management needs with our product and service offerings, we continue to bring 'life confidence' to customers spread across India. Whatever your plans in life, you can be confident that Bharti AXA Life will offer the right financial solutions to help you achieve them.


The vision of Bharti AXA Life Insurance Company Limited is to become the preferred life insurance company in India. This vision extends to our recruitment philosophy as well. Both the Bharti Group in India and AXA globally enjoy the status of being a very employee focused organization. At Bharti AXA Life Insurance, we are determined to achieve our vision through talent who are empowered, focused on customer service, and champions of strategic and operational excellence.





Bharti Enterprises is one of Indias leading business groups with interests in telecom, agri business, insurance and retail. Bharti has been a pioneering force in the telecom sector with many firsts and innovations to its credit. Bharti Airtel Limited, a group company, is one of Indias leading private sector providers of telecommunications services with an aggregate of 60 million customers, spanning mobile, fixed line, broadband and enterprise services. Bharti Airtel was ranked amongst the best performing companies in the world in the BusinessWeek IT 100 list 2007. Bharti Teletech is the countrys largest manufacturer and exporter of telephone terminals. Bharti has a joint venture with ELRo Holdings India Ltd. FieldFresh Foods Pvt. Ltd - for global distribution of fresh fruits and vegetables. Bharti also has a joint venture - Bharti AXA Life Insurance Company Ltd. - with AXA,


world leader in financial protection and wealth management. Bharti has recently forayed into the retail business under a company called Bharti Retail Pvt. Ltd. It also has a joint venture Bharti Wal-Mart Private Limited with Wal-Mart, for wholesale cash-andcarry and back-end supply chain management operations.

AXA Group

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

AXA Asia Pacific Holdings

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



Bharti AXA General Insurance

Bharti-Tele Tech Ltd

Bharti Tele Soft

Bharti Resources


Bharti Foundation


To achieve a market position among the top 5 in India through a multidistribution, multi-product platform To adapt AXA's best practice blueprints as a sound platform for efficient and 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 recognised as being close and qualified by our customers.

Strong partner Bharti - provides access to customer base of more than 130 million Multi channel execution capability


Current Asia product range which is a strong match to products sold to the mass and mass affluent Global scale providing cost effective and speedy re-use of systems, products and business capability Strong AXA and Bharti brands which can be leveraged to attract and retain a high quality management team

The guiding Human Resources principles at Bharti AXA are: Clearly define scope of responsibilities and empower people to deliver Provide people with the means to develop their competencies


Consider individual training and development a priority investment Build organizations that are conducive to teamwork and that involve everyone Promote ongoing dialogue between managers and the people who report to them Make cultural difference a key source of strength



Glenn Williams is the Chief Executive Officer and Managing Director for Bharti AXA Life Insurance Co. Ltd. Prior to this, he was the Regional General Manager, Corporate Development and Strategy for AXA Asia Life. In this position, Mr. Williams worked with AXA Asia Life's senior management to expand operations across the region in markets including Hong Kong, China, India, Indonesia, Malaysia, Singapore, Thailand and the Philippines. Mr. Williams has been with AXA since 2002 and has held key positions in Hong Kong and the Philippines. Mr. Williams has over 15 years of experience in the insurance industry, particularly in the areas of product & pricing actuary, operations and finance. In 2006, Mr. Williams led AXA Asia Life's successful integration of MLC and Winterthur. Prior to joining AXA, Mr. Williams was Marketing Actuary with Swiss Reinsurance Company in Hong Kong. Mr Williams graduated with a B.Sc (Honor) from Loughborough University, UK and has been a fellow of the Institute of Actuaries (UK) since 1998.

Priya Ranjan is Director - Human Resources at Bharti AXA Life Insurance Company. He brings to the business over 15 years of HR experience in diverse fields spanning financial services, information technology and manufacturing. He specialises in building large scale businesses right from their project days.


Before joining Bharti AXA Life, Ranjan was with JPMorgan Chase Bank, Singapore as Vice President and Regional HR Manager - Technology & Operations (APAC) from May 2005, after serving the office of Vice President and Head - HR for the Global Service Centre of the Bank in India for about 3 years. Between June 1997 and May 2002, Ranjan was with GE Capital as Vice President and Head - HR for the Credit Card business, where he was a part of the Project Team responsible for creating the business in India. He also has an entrepreneurial venture to his credit with Bangalore-based Team Excel, which specialised in recruitment and HR consulting. His first assignment was with Tata Steel as Sr. Personnel Officer from 1991 to 1994, followed by Microland Ltd. as Manager - HR for two years. Ranjan is a BA (Hons) from St Xavier's College, Kolkata and holds a Post Graduate Diploma in Personnel Management from XLRI.

Sushanto Mukherjee is the Chief Distribution Officer for Bharti AXA Life Insurance Company Ltd. Prior to this; he was Director & Head Partnership Distribution & Group Business at Max New York Life Insurance Co. Ltd. He started his career with ITC-Welcomegroup hotels division in 1989. He has subsequently worked in various reputed organizations such as Xerox, Reliance Infocomm & Tata AIG in senior positions managing sales at Zonal & National Levels.Sushanto has over 21 years of experience across Insurance, Telecom, Hospitality and Office Automation. He has a strong background in developing & managing partnership channels in Life Insurance, managing large teams in Retail Distribution and effectively leading direct


sales teams in the Corporate Segment. He is an MBA from Cardiff Business School United Kingdom.

V Srinivasan is currently the Chief Financial Officer of Bharti AXA Life Insurance Company. He started his career as a Chartered Accountant in 1989 and over the past two decades has emerged as a stalwart in the financial sector. With over 8 years of rich experience in the Life Insurance industry, today, he stands as a storehouse of financial knowledge and expertise.

Mark Meehan is currently the Chief Marketing and Operations Officer for Bharti AXA Life Insurance Company Ltd. Marks previous role in AXA was that of CEO of Tynan Mackenzie P/L, a professional investment services company. His role in Bharti AXA Life as CMOO includes Marketing,Product Development, Customer Service, Underwriting, Claims, Channel & Distribution Operations, Information Technology and Systems, Six Sigma, Business Continuity and Client Persistency Management.



At Bharti AXA Life, we want to take care of your responsibilities in the same way as you do for your loved ones, with a range of life insurance services. Through our life insurance products, you can trust us to take care of your family at all times. You can select the most suitable plan from our host of plans and make buying life insurance simple and convenient. Each of the plans, right from traditional life insurance to unit linked life insurance, fall in specified segments and fulfill your specific objectives. You can learn more about the segment and specific plans within the segment by clicking on the type of plan.


Protect your loved ones against financial contingencies at nominal costs

You love your family and feel responsible towards them in every way. But life can be uncertain and unforeseen contingencies can meet you anytime. At such times, life insurance comes to your rescue. As someone who wants only the best for their family, we understand your need to safeguard your family against any crises. Our protection plans offer you high life cover at nominal costs so that you can fulfill your responsibility with ease and your family never has to face financial constraints.

Bharti AXA Life Elite Secure Bharti AXA Life Secure Confident

Ensure your family's security + maximise your savings You can make your money work harder with our Wealth Creation with Protection plans. Whether it is a a comfortable future, bigger home, or even a dream vacation , these life insurance plans are the best solutions along with the surety of financial protection. Our life insurance coverage plans include 'traditional' plans that give guaranteed money on maturity. While, we also offer market-linked plans that give you the benefit of good market performance to maximise your savings.

Bharti AXA Life Child Plans 41

Bharti AXA Life Guaranteed Plans

Make the golden years of your life truly comfortable. Retirement plans are the best way to systematically plan for your golden years. Our flexible retirement plans ensure you live your dream retirement. By investing in these long-term plans by paying life insurance premium, you can earn a regular income even after you've stopped working. Without having to depend on anyone else or worry about rising costs, you can go ahead and lead a comfortable retirement.

Bharti AXA Life Dream Life Pension PLUS Bharti AXA Life Future Secure Pension Bharti AXA Life Future Advantage Pension

Investments for your good health


Given the fast pace of our lives, we always run the risk of acquiring lifestyle diseases - be it high blood pressure or various heart diseases. Add to this the rising medical costs because of which, we end up spending increasingly large amounts of money. Bharti AXA Life offers you Health Plans that ensure freedom from stress when it comes to your health expenses and let you enjoy your life without any worries.

With Bharti AXA Life insurance products, provide financial security and protection to your loved ones. Simple, affordable plans to safeguard your family from life's uncertainties.

Bharti AXA Life Shield Bharti AXA Life Sanjeevani

Life Shield, a single premium group term life insurance product, is a simple, affordable life insurance solution that financially secures the family of the group member by providing a life insurance cover.


Sanjeevani, a single premium group term life insurance product provides financial security and protection to your loved ones. It is a simple, affordable plan to safeguard your family from life's uncertainties.

With Bharti AXA Life Credit Protection Plans you can ensure that your family enjoys a good lifestyle and at the same time is protected from the uncertainties of life.

Bharti AXA Life Credit Secure Bharti AXA Life Mortgage Credit Shield Bharti AXA Life Credit Shield

Bharti AXA Life Credit Secure is a single premium group reducing term life insurance product, that makes sure your family is not burdened with your loan liability in your absence. Now you can ensure that your family is protected from the uncertainties of life


even as they enjoy a good lifestyle. In case of an eventuality, Bharti AXA Life will pay an amount that can used to settle the outstanding loan amount.

Presenting you with Credit Shield from Bharti AXA Life, a group product - which protects the family of the borrower in the event of death by paying an amount to settle the outstanding loan.




Training and development:

In organizational development, the related

field of training and development (T & D) deals with the design and delivery of learning to improve performance, skills, or knowledge within organizations. In some organizations the term Learning and Development is used instead of Training and Development in order to emphasize the importance of learning for the individual and the organization. In other organizations, the term Human Resource Development is used.

Definition of Training:
The systematic development of the knowledge, skills and attitudes required by an individual to perform adequately a given task or job. Training refers to efforts that help enhance employee skills for carrying out the present job. According to Edwin B Flippo, training is the act of increasing knowledge and skills of an employee for doing a particular job.

Needs for training:

To improve the current job performance of employees To familiarize employees with the policies and procedures of the organization. To enhance the creativity, adaptability and versatility of the employees and to facilitate learning at the work place To prepare employees for future job.


To change the skills, knowledge and attitudes of the employees on a permanent basis. To help employees manage their careers. To maintain knowledgeable work force. To gain competitive advantage through a knowledgeable work force. To promote organizational growth through individual growth.

Areas of training:
Company policies and procedures Human relations training Skill based training Problem solving training

Onsite Workshops for Leadership Team

Employees need more than bosses. They need mentors: Professionals skilled at assessing employee development needs and committed to guiding employees toward professional success. Team Leadership Workshop provides managers with proven techniques for effective personnel management. By helping leaders understand and address their employees' requirements, this interactive seminar offers significant benefit to managers at all levels. New supervisors gain a solid grounding in the concept of ''leadership,'' while more experienced managers refresh their commitment to teaching and coaching their team members. This training program provides healthy perspectives for managers at all levels, making it an ideal morale-boosting leadership development experience for mixed groups of front-line supervisors and senior staff members.


Leadership Training for Success

All managers need methods. Leaders need to know the most effective techniques for guiding teams, mentoring individuals, and validating the results. Without solid methods, managers will revert use a one-size-fits-all approach to leadership that reflects the leader's personality, rather than the employees' needs. Committed, mentoring leadership is essential to employee morale, productivity, and retention.

A Results-Oriented Training Program

Team Leadership Workshop provides proven methods and procedures for successful people management. Participants receive a step-by-step plan for guiding each employee toward success.

This workshop includes elements of Frank Whyte's nationally respected Team Building Workshops expanding upon that foundation to help leaders: Recognize each employee's personality preferences and supervisory needs, Align their leadership style with those of their bosses, colleagues, and subordinates, Develop competent and committed employees by mentoring and guiding their employees toward success, Schedule their management responsibilities to ensure that nothing is left to chance, and Use practiced real-world scenarios to resolve challenges and remove barriers.


Training Program done by Bharti AXA Life

Training is must for every individual when he enters into the organization. Even though the candidate has experience he also should get training. Why because the organization culture, values and beliefs are different from one organization to other. Thats why the training program plays a key role in every organization. Training program following Bharti AXA Life Insurance is different at various levels. Mainly in training program the company concentrates on sales managers, agents, operations executives and telecallers.

Training program for sales managers:

The training program duration is 15 20 days They get training on product knowledge. Motivating and encouraging Advisors

Training program for Advisors:


The training program duration is 15 20 days They get training on product knowledge How to convince the people. Objection Handling

Training program for operations executives:

They will get training on customer database files Taking care of the customer files Well trained in product information and documentation Renewals will be informed periodically.

Required skills for employees in Bharti AXA Life Insurance:

Interpersonal skills Excellent communication skills Understanding nature Aggressiveness Convincing skills Ability to motivate others Interest to learn



1. Coaching


2. Continuing Professional Development or CPD 3. E-learning aka Online Learning, Distance Learning, Web-Based Learning 4. Executive education 5. Executive development 6. Leadership development 7. Instructional Animation 8. Instructional Design 9. Instructional Strategies 10. Knowledge Management 11. Organizational Learning 12. Organizational knowledge 13. Mentoring 14. Teaching Method 15. Blended learning 16. Outbound Management Development Programmes


The various forms of Training and development are explained below:

1. Coaching is a method of directing, instructing and training a person or group of

people, with the aim to achieve some goal or develop specific skills. There are many ways to coach, types of coaching and methods to coaching. Direction may include motivational speaking. Training may include seminars, workshops, and supervised practice.

2. Continuing Professional Development (CPD) or Continuing Professional

Education (CPE) is the means by which members of professional associations maintain, improve and broaden their knowledge and skills and develop the personal qualities required in their professional lives.CPD is defined as the holistic commitment to structured skills enhancement and personal or professional competence.

3. Electronic learning (or e-Learning or eLearning) is a type of education where the

medium of instruction is computer technology. No in-person interaction may take place in some instances. E-learning is used interchangeably in a wide variety of contexts. In companies, it refers to the strategies that use the company network to deliver training courses to employees. In the USA, it is defined as a planned teaching/learning experience that uses a wide spectrum of technologies, mainly Internet or computer-based, to reach learners at a distance. Lately in most Universities, e-learning is used to define a specific mode to attend a course or programmes of study where the students rarely, if ever, attend face-to-face for oncampus access to educational facilities, because they study online.


4. Executive Education is the term used for programs at graduate-level business

schools that aim to give classes for Chief Executives and other top managers or entrepreneurs. These programs do not usually end in a degree, although there is an ever-growing number of an Executive MBA program that are very similar and offer a Masters of Business Administration upon completion of the coursework.

5. Executive development is the whole of activities aimed at developing the skills and

competencies of those that (will) have executive positions in organizations. While "executive" and "manager" and "leader" are often used interchangeably, "executive" is commonly used to signify the top 5% to 10% of the organization. Similarly, "development" and "training" and "education" are often used as synonyms, however "development" is generally seen as the more encompassing of the three in terms of activities that build skills and competencies.

6. Leadership development: Leadership development refers to any activity that

enhances the quality of leadership within an individual or organization. These activities have ranged from MBA style programs offered at university business schools to high-ropes courses and executive retreats.

7. Instructional Animations are animations that are used either to provide instructions

for immediate performance of a task or to support more permanent learning of subject matter. While both of these uses can be described as instructional animations, when the goal is to support learning, the term educational animation may be preferred.

8. Instructional Design is the practice of arranging media (communication technology)

and content to help learners and teachers transfer knowledge most effectively. The process consists broadly of determining the current state of learner understanding, defining the end goal of instruction, and creating some media-based "intervention" to


assist in the transition. Ideally the process is informed by pedagogically tested theories of learning and may take place in student-only, teacher-led or communitybased settings. The outcome of this instruction may be directly observable and scientifically measured or completely hidden and assumed.

9. Knowledge Management ('KM') comprises a range of practices used by

organizations to identify, create, represent, distribute and enable adoption of what it knows, and how it knows it. It has been an established discipline since 1995 with a body of university courses and both professional and academic journals dedicated to it. Many large companies have resources dedicated to Knowledge Management, often as a part of 'Information Technology', 'Human Resource Management' or Business strategy departments. Knowledge Management is a multi-billion dollar world-wide market.
10. Organizational learning is an area of knowledge within organizational theory that

studies models and theories about the way an organization learns and adapts. In Organizational development (OD), learning is a characteristic of an adaptive organization, i.e., an organization that is able to sense changes in signals from its environment (both internal and external) and adapt accordingly. OD specialists endeavor to assist their clients to learn from experience and incorporate the learning as feedback into the planning process.
11. Organizational knowledge: What is the nature of knowledge created, traded and

used in organizations? Some of this knowledge can be termed technical knowing the meaning of technical words and phrases, being able to read and make sense of economic data and being able to act on the basis of law-like generalizations. Scientific knowledge is propositional; it takes the form of causal generalizations whenever A, then B. For example, whenever water reaches the temperature of 100 degrees, it boils; whenever it boils, it turns into steam; steam generates pressure when in an enclosed space; pressure drives engines. And so forth.


12. Mentorship refers to a developmental relationship between a more experienced

mentor and a less experienced partner referred to as a protg, mentoree, or (person) being mentoreda person guided and protected by a more prominent person.
13. Teaching methods are best articulated by answering the questions, "What is the

purpose of education?" and "What are the best ways of achieving these purposes?". For much of prehistory, educational methods were largely informal, and consisted of children imitating or modelling their behavior on that of their elders, learning through observation and play. In this sense the children are the students, and the elder is the teacher. A teacher creates the course materials to be taught and then enforces it.
1. Blended Learning is the combination of multiple approaches to learning. Blended

learning can be accomplished through the use of 'blended' virtual and physical resources. A typical example of this would be a combination of technology-based materials and face-to-face sessions used together to deliver instruction. In the strictest sense, blended learning is when an instructor combines two methods of delivery of instruction. However, this term most often applies to the use of technology on instruction. A good example of blended learning would be to give a well-structured introductory lesson in the classroom, and then to provide follow-up materials online.


Outbound Management Development Programmes are a training

method for enhancing organizational performance through experiential learning. These programmes generally revolve around activities designed to improve leadership, communication skills, planning, change management, delegation, teamwork, and motivation. Participants are divided into teams and assigned tasks or activities for completion in a specified time. Achievement and performance during these activities is reviewed in group discussions to identify behaviors that enhance performance or lead to failure or decreased performance.



Performance measurement is the process of assessing progress toward

achieving predetermined goals. Performance management is building on that process, adding the relevant communication and action on the progress achieved against these predetermined goals.

In network performance management

(a) A set of functions that evaluate and report the behavior of telecommunications equipment and the effectiveness of the network or network element and (b) A set of various sub-functions, such as gathering statistical information, maintaining and examining historical logs, determining system performance under natural and artificial conditions, and altering system modes of operation.

In organizational development (OD), performance can be thought of as Actual

Results vs. Desired Results. Any discrepancy, where Actual is less than Desired, could constitute the performance improvement zone. Performance management and improvement can be thought of as a cycle:
1. Performance planning: where goals and objectives are established 2. Performance coaching: where a manager intervenes to give feedback and adjust

3. Performance appraisal: where individual performance is formally documented

and feedback delivered A performance problem is any gap between Desired Results and Actual Results. Performance improvement is any effort targeted at closing the gap between Actual Results and Desired Results.




1) What is your opinion on training?

OPINION Very Good Good Bad Time waste Process Total %AGE 46% 28% 10% 16% 100%


From graph it can be seen that 46% respondents are in favour of very good training, while16% employees say that it is a time waste process.

2) Do you feel that training will helpful for individual growth?

OPINION Yes No Total

%AGE 80% 20% 100%


From graph it can be seen that majority of the respondents say that it is helpful Only 20% feel that training will not helpful for individual growth.

3) Did you satisfy with training what company conducted here?

SATISFACTION LEVEL Satisfied Partially satisfied Fully satisfied Partially dissatisfied Fully dissatisfied Total

%AGE 42% 23% 5% 28% 2% 100%


From graph it can be seen that majority of the respondents are satisfied with the Training Program. Only 2% were fully dissatisfied with the Training programs.

4) Is there any improvement in performance after getting the


OPINION Yes No Total

%AGE 60% 40% 100%


From graph it can be seen that majority of the respondents says that it helps in increasing performance only 40% are against this.

5) Who needs much knowledge regarding company and product?

OPINION Agents Tele Callers Operation Executives All Total %AGE 50% 16% 14% 20% 100%


From graph it can be seen that agents needs more knowledge about training and development, while tele callers need 16% and 14% is needed by operation executives.

6) In which areas employee needs training?

AREAS Company Policies And Procedures Skill Based Training Problem Solving Skills All of The Above Total %AGE 16% 54% 8% 22% 100%


From graph it can be seen that more training is needed by skilled based employees and then training is requires for company policies and procedure and then comes the problem solving.



Trained & Developed employees can work more efficiently. Training & Development makes employees more loyal to an organization. Training & Development makes an employee more useful to a firm.


Training enables employees to secure promotions easily. They can realize their career goals comfortably and development helps in increase their morale.

Employees can avoid mistakes on the job. They can handle jobs with confidence. They will be more satisfied on their jobs.

Training & Development can contribute to higher production and fewer mistakes, greater job satisfaction and lower employee turnover. Also, it can enable employees to cope up with organizational, social and technological change.




Create awareness: The Company has to take care of awareness creation about the products and services among the Advisors/Agents 69

Charges: The Company has to reduce the mortality and administration charges. The company has to give periodic training. Product promotion strategies should be improved. Company should consider the present competition and should act according to the customer needs. It should be like long term training like Fundamental Carrier class, Basic Carrier class which helps the advisors in different stages.





In this Knowledge-based economy, training helps people to learn how to do the things differently or to the different things and Development is that which helps in improving the performance of the employees by giving them opportunities for growth. Products are now increasingly knowledge-intensive; for this employer are responsible for providing opportunities for continued learning. To cope with the challenges and competitiveness in the world, every organization needs the services of trained persons for performing the activities in the systemic way. So, training program plays a key role in individual as well as organizational performance.

Learnings in the on the job training:72

1) Importance of the training program 2) How the training program will help for the individual as well as organizational growth. 3) The way to improve communication skills. 4) The way to behave people in corporate world.

1. Name: 73

2. Designation: 3. What is your opinion on training? Good Very good Bad Time waste process

4. Do you feel that training will helpful for individual growth? Yes NO

5. Did you satisfy with training what company conducted here? Yes No

6. Is there any improvement in performance after getting the training? Yes No

7. Who needs much knowledge regarding company and product? Agents Tele callers Operations executives All

8. In which areas employee needs training? Company policies and procedures Skill based training Problem solving skills All of the above



1) Lynton, R.P. and Pareek, U. Training for development, 2nd Ed., New Delhi: Vistaar publication, 2002. 2) Bhatnagar, O.P. Evaluation methodology for training, New Delhi: Oxford and IBH publishing 3) Rae, L. The art of training and development, effective planning. Vol. 1, New Delhi. 4) Tannenbaum, S. A strategic view of organizational training and learning. 5) A hand book of human resource management practice, 8th ed., 2001. 6) Personnel management, Mc. Graw Hill, 6th ed., 1981. 7) Kothari, C.R. Research Methodology, 3rd edition, 1997, Vikas Publishing House Pvt. Ltd, New Delhi 8)