PREFACE

I am DHARA DAVE, the student of INDUS Institute of Technology & Engineering, presenting this report before you. As a part of practical studies, I have taken training from BHARTI AXA LIFE INSURANCE Ltd. I am very glad to represent this project report before you as it involves my hard work, experience as well as co ordination of all staff members. Such type of training is very helpful to management students as it helps in strengthening confidence and gives experience to check the theoretical knowledge. DHARA DAVE MBA

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ACKNOWLEDGEMENT
The success of any project is never limited to the individual undertaking the project. However, there are some key personalities whose role is very vital in project. I acknowledge with deep sense of appreciation the cooperation received from ASIF Sir as well as PANKAJ Sir. Firstly I would like to thank Mr. ABHINAV SHUKLA, training manager, without whom I wont be able to complete this project report. At the same I would like to thank Mr. KAVAN DAVE for providing me better understanding of working of company. I would like to thank JIGNESH Sir, for better co-operation. I am also thankful to Ms. MAMTA PARIKH, as she made us comfortable with the basic concepts and procedure for recruitment. They were always been willingly present whenever I needed their support. I am also thankful to them for the time they have spared for me, from their extremely busy schedule. I would like to thank our internal project guide Mrs. GARIMA MISHRA Faculty guide in IITE. She is extremely friendly and co operative during the entire course of our training. Her continuous support and constructive suggestions made training much easy. Finally, I want to express my appreciation for the continuous and sincere support of all the faculty members of IITE. DHARA DAVE MBA

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INDEX
No. 1 Topic INTRODUCTION.. Profile of Bharti Profile of AXA.. Corporate Profile ( BAL ).... Organization Structure.. Financial Policy.. Financial Performance Personnel Recruitment Process... Personnel Policies Training & Development. Welfare Activities. Production / Operations. Products. Quality Control.. .Facility Layout Marketing. Areas of Operation Competitors Advertisement & Sales Promotion. Brand Forum in India As a trainee. Methodology Pg No . 5 6 12 22 25 26 27 29 30 30 31 33 34 36 39 40 41 42 44 44 45 47 49
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2. 3 4

7 8

Study & Its Objective... .Sample 9 10 11 12 Results. Interpretation of the Results Life Insurance in India Conclusion Bibliography.

50 51 52 56 57 60 61

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INTRODUCTION

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History of the organization & its objective BHARTI

Sunil Bharti Mittal,founder,Chairman and managing Director of Bharti Group can be labeled as the most ambitious telecom entrepreneur in India. Sunil Mittal got interested in push button phones while on a trip to Taiwan, and in 1982, introduced the phones to India, replacing the old fashioned, bulky rotary phones that were in use in the country then. Bharti Telecom Limited(BTL) was incorporated and entered into a technical tie up with Siemens AG of Germany for manufacture of electronic push button phones. Sunil Bharti Mittal Chairman and managing Director of Bharti Group The turning point came in 1992 when the Indian government was awarding licenses for mobile phone services for the first time. One of the conditions for the Delhi cellular license was that the bidder has some experience as a telecom operator. Mittal clinched a deal with the French Telecom group Vivendi. Two years later, Sunil secured rights to serve New Delhi. In 1995, Bharti Cellular Limited (BCL) was formed to offer cellular services under the brand name Airtel. Within a few years Bharti became the first telecom company cross the 2-million mobile subscriber mark.

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Always on the move and making an impact and excelling in whatever he did, this clear thinking risk taker has changed the face of the Indian ICT space. For his contribution he has been honored with several awards. He was chosen as one of the top entrepreneurs in the world for the year 2000 and amongst Stars of Asia, by Business Week, he received IT Man of the year Award 2002 from Dataquest and CEO Of the year, 2002 Award (World HRD Congress). He is the member of National Council of Confederation of Indian Industry (CII), Federation if Indian Chambers of Commerce & Industry (FICCI), Chairman, Indo-US Joint Business Council, Member, Advisory Committee constituted by Ministry of IT. Now he heads a successful empire focused on different areas of business through independent Joint Venture companies with a market capitalization of approximately $2 billion, employing over 5000 people and still growing.

Bharati Bharati Enterprise Enterprise

Bharati Bharati Teletech Teletech Ltd. Ltd.

Telecom Telecom Seychelles Seychelles Ltd. Ltd.

Bharati Bharati Telecom Telecom Ltd. Ltd.

Fieldfresh Fieldfresh Jersey Jersey FoodsPvt. Foods Pvt. Airtel Ltd. Airtel Ltd. Ltd. Ltd.

Bharati Bharati AxaLife Axa Life Insurance Insurance Ltd. Ltd.

Bharati Bharati Telesoft Telesoft Ltd. Ltd.

Bharati Bharati RetailPvt. Retail Pvt. Ltd. Ltd.

Teletech Teletech Services Services (India)Ltd. (India) Ltd.

Bharati Bharati AirtelLtd. Airtel Ltd.

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BHARTI ENTERPRISES

Bharti Airtel ltd.

Bharti airtel ltd is Indias leading provider of telecommunications services. The company has 4 distinct Business divisions- Mobile & telephone services, long distsnce services and enterprise services. Bharti TeleTech ltd

Bharti TeleTech LTD manufactures and exports world class telecom equipment under the brand Beetel. Telecom Seychelles ltd

Telecom Seychelles Ltd provides telecom services in Seychelles, under the brand Airtel Bharti Telesoft ltd

Bharti telesoft ltd delivers best-in-class, revenue-critical VAS products and services to telecom carriers. TeleTECH Services (India) Ltd

TeleTech Services (India) Ltd is joint venture with TeleTech Inc., USA. It offers a range of Customer Management Services.

FieldFresh Foods Pvt Ltd

FieldFresh Foods Pvt Ltd is Bhartis venture with EL Rothschild Group owned ELRO Holdings India Ltd., to

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export fresh Agri products exclusively to markets in Europe and USA.

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Bharti is the First To launches Indias first private sector National Long Distance service. Mobile service to cross the three million customer mark and to cross 100000 in Himachal. To launch worlds first Flexi- Recharge pre-paid Coupon for its customer

To announce innovative outstanding to enhance Quality of Customer Services To launch talk-time transfer service for its pre-paid customers in Delhi To win the prestigious MIS Asia IT Excellence Award 2005

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AWARDS
o Airtel wins the World Communications Best Brand Award o Bharti Tele-Ventures is the Asian Mobile news Mobile Operator of The Year o Airtel chosen as Most Preferred Mobile Services by CNBC Awaaz Consumer Awards o Bharti Tele-Ventures is the Indian Mobile Operator of the Year 2005 o BHARTI wins Silver Trophy at the CII National Six Sigma Awards o Bharti Tele-Ventures amongst the top technology companies in the world-Business Week

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STRENGTHS

o o o o

A trusted brand name All India presence Largest in the telecom industry Strong financial base

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AXA-Profile
50 million (500lakhs) customers 130000 employees and exclusive sales associates 72 billion euros (Rs. 416300 crores) in revenues 869 billion euros (5024500 crores) in assets under management 2.9 billion euros (Rs. 16800 crores) in adjusted earnings.

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AXA Financial Protection

AXA is a world leader in financial protection and wealth management, with major operations in Western Europe, North America and the Asia/Pacific area. AXA services 50 million customers throughout the world individuals and businesses. In total, the AXA Group has approximately 110000 employees and distributions worldwide, working in around fifty countries. The XA Group reported total revenues for the first half of 2006 of billion and underlying earnings of 2090 million and had 1091 billion in assets under management as of June 30, 2006. AXAs ordinary shares are listed and trade under the symbol AXA on the Paris Stock Exchange. AXA American Depository Shares (ADSs) are listed on the NYSE under the ticker symbol AXA. AXA Group has a strong, long lasting history. The Group can trace its right back to the 18th century. After a succession of mergers, acquisitions and name changes involving some of the leading insurance companies in the UK and around the world, the name AXA was first introduced in 1985.

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AXA VISION
We have chosen a demanding business. If we do it right, then we enable our clients to be life confident because they feel reassured, protected and supported as they undertake important projects at various stages in their lives. Our vision of the business is what guides our daily work. It reflects the social and human aspects of Financial Protection, whose value to people has never been greater. Henri de Castries-Chairman of the AXA Management Board Business: Financial Protection:- Financial Protection involves offering customers- individuals as well as small, mid-size and large businesses- a wide range of product and services that meet their insurance, protection, savings, retirement and financial planning needs throughout their lives.

Financial Planning

Retirement Asset Accumulation Savings Life Protection Asset Production

Annuities Asset Management Retail Banking Products

Life Stages
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Ambition:The company is working toward the shared ambition of attaining leadership in core Financial Protection business, through the quality of products and services as well as through superior performance. Values: Team spirit Integrity Innovation Pragmatism Professionalism These values are the foundations of their ambition. They serve as a guide, inspiring the actions and decisions of AXA employees. These values reflect the way of doing and thinking, for the benefit of their clients, shareholders, employees, business partners and the community. Commitments:AXA aspired to do business responsibly, and to build trustbased relationships with its stakeholders: Clients: Consistently deliver efficient local service and adapted solutions, while adhering to the highest standard of professional conduct. Shareholders: Create lasting value by achieving operating performance that ranks among the best in the industry, and strive to furnish accurate financial information. Employees: Ensure professional fulfillment by offering a supportive and respectful workplace where people are empowered and the continuous development of competences is encouraged.

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Suppliers: Maintain excellent supplier relationships by adhering to a set ofclearly defined procurement guidelines and promoting ongoing dialogue. The community: Act as a responsible corporate citizen by sharing their professional expertise with the community, innovating in the area of employment and sponsoring philanthropic initiatives. The Environment: Contribute to environmental preservation efforts by making available environmental risk management capability and promrting environmentally sound practices in the workplace. Strategy:To attain its leadership ambition, the AXA Group has built its strategy around a business model and a set of clearly defined operational priorities. AXAs business model entails fortifying, consolidating and developing organic growth retaining existing clients and acquiring new ones to ensure that the Group is able to seize genuine opportunities for external growth. AXAs development efforts are focused on the most profitable segments, and the Group seeks to enhance its positioning in developed or high-growth markets.

AXA has set five operational priorities or catalysts for

change, which together are known as the five cylinders of its growth. Product innovation: a source of differention that reflects AXA desire to offer added value every time it introduces a new product in one of its markets. Core business expertise: AXAs goal is to offer the best service at the best price. Distribution management: a second source of differention that reflects AXAs aspiration of enhancing

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sales performance by lessening the administrative load on its distributors. Quality of service. Productivity: AXA seeks to reduce operating costs and improve quality every year. Cost reduction is an ongoing challenge, not a one-off reaction to a difficult operating environment. To achieve operational excellence in each of these key areas, AXA has adopted a continuous process improvement program based on listening to the voice of the customer. Its global strategy is leveraged by the size and the reach of AXA Group, which encourages local operating units to develop and exploit synergies.

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AXA Brand
Today, 52 million clients in the world trust AXA and the AXA name. Since 1998, the AXA Group has been doing business under a single brand with global reach: AXA. The AXA logo was created in1985. The name and logo were designed to reflect the Groups image: professional, united, vibrant and ambitious. new name. 1985- The new group chooses an international name:AXA 2003- The name and logo were designed to reflect the Groups image: 1982- The new group starts search for a

To provide a clearer vision of the transformation of its core business from traditional insurance to the broader concept of Financial Protection, the AXA Group added the words Financial Protection as a baseline to its logo and adopted a tagline designed to underscore the notion of proximity and the most basic of human values: Simple, natural, optimistic and intimate, the be life confident tagline reflects AXAs culture and ability to move forward.

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Employees: Employer of choice for employees of choice Our expectations of you Excellent performer in your chosen area Client-driven and results oriented Team player, able and willing to collaborate with others Open-minded and constantly willing to learn Eager to contribute energy and ideas Flexible and embracing of change Total integrity In short term the employee performs (Results and value) and the company provides compensation and good working environment. In a long term association the company provides learning and career opportunities whereas the employee brings continuous learning and self development.

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FORTUNE GLOBAL 500-2007

Rank Company Revenues ($millions) 351139.0 347254.0 318845.0 274316.0 207349.0 204746.4 200567.0 190191.4 172451.0 168356.7 168307.0 160126.0 158274.3 146777.0 139738.1 Profits($millions)

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Wal-Mart Stores Exxon Mobil Royal Dutch Shell BP General Motors Toyota Motor Chevron DaimlerChrysler ConocoPhillips Total General Electric Ford Motor ING Group Citigroup AXA

11284.0 39500.0 25442.0 22000.0 1978.0 14055.8 17138.0 4048.8 15550.0 14764.7 20829.0 -12613.0 9650.8 21538.0 6379.9

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Strengths
A trusted brand name Global presence Largest in the insurance industry (in terms of revenue) Strong financial base

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CORPORATE PROFILE
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 launched national operations in December 2006. Today, it has over 5200 employees across over 12 states in the country. The business philosophy is built around the promise of making people "Life Confident". As company expands its presence across the country to cater to clients insurance and wealth management needs with their product and service offerings, they 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.

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Vision To be a leader of the preferred company for financial protection and wealth management in India. Strategy To achieve a top 5 market position in India through a multi-product platform. To adapt AXAs best practice blueprints as a sound platform for profitable growth. To leverage Bharatis local knowledge, infrastructure and customer base. To deliver high level of shareboarder return. To build long term value with our business partners by enhancing the proportion to their customers. To be the employer of choice to attract and retain the best talent in India. To be recognized as being close and qualified by our customers. Strategic differentiators Strong partner Bharti- provides access to customer base of more than 20 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 brand which can be leveraged to attract and retain a high quality management team.

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Core Values Team spirit Integrity Innovation Pragmatism Professionalism These values are the foundation of their ambition. They serve as a guide, inspiring the actions and decisions of Bharti AXA employees. These values reflect way of doing and thinking, for the benefit of clients, shareholders, employees, business partners and the community. Presence Hyderabad Mumbai Bangalore Kolkata Chennai Ahmedabad Ludhiana Lucknow Surat Kochi Indore Chandigarh Vadodara Nagpur Bhubneshwar Jaipur Nasik Kanpur Anand Mehsana Nawashair Delhi Noida Bhatinda Howrah Kharagpur Gurgaon Durgapur Siliguri Vijaywada Pondicherry Jamshedpur Vijaywada Calicut Trivendrum Erode Trissur Amritsar Jalandhar Patiala
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Aurangabad Abohar

Pune Rajkot

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Financial Policy
Financial Protection involves offering customers- individuals as well as small, mid-size and large businesses- a wide range of product and services that meet their insurance, protection, savings, retirement and financial planning needs throughout their lives.

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Financial Performance
Comparison with competition (absolute returns)
1 month Equity Bharti AXA Grow Money Bajaj Allianz Equity Plus ICICI Prudential Maximiser HDFC Growth Fund SBI Life Horizon Equity Aviva Life Bond Growth Reliance Life Equity Tata AIG Equity Balanced Fund Bharti AXA save n Grow Bajaj Allianz Balanced Plus ICICI Prudential Plus HDFC Balanced Managed Aviva Life Bond Balanced Reliance Life Balanced Tata AIG Balanced Fund Bond Bharti AXA Steady Money Bajaj Allianz Debt Plus ICICI Prudential Protector HDFC Secure Managed SBI Life Horizon Fund Aviva Life Bond Secure Reliance Life Capital Secure Fund 3 months 29.24% 24.10% 24.59% 22.51% 32.00% 14.35% 24.36% 32.15% 6 months 43.08% 37.83% 44.15% 38.56% 46.97% 23.70% 42.86% 53.36% Rank 1 year Rank 3 years

17.06% 13.82% 12.97% 13.36% 17.95% 7.83% 12.50% 18.64%

2 6 4 7 3 8 5 1

62.92% 47.09% 49.62% 46.12% 60.44% 33.26% 48.24% 72.00%

2 6 4 7 3 8 5 1

231.00% 255.12% 255.12% 177.81%

8.35% 9.90% 5.45% 7.89% 4.06% 3.15% 10.63%

14.15% 16.59% 10.49% 13.40% 7.36% 5.70% 17.42%

21.30% 24.98% 20.30% 22.64% 13.78% 12.20% 29.03%

3 2 5 4 6 7 1

27.50% 31.87% 23.70% 27.35% 17.83% 14.50% 37.66%

3 2 5 4 6 7 1

91.68% 72.53% 111.52% 81.73%

0.83% 1.29% 1.18% 1.02% 1.15% 2.07% 0.66%

2.08% 2.43% 2.07% 1.97% 1.74% 3.48% 2.01%

8.22% 6.04% 5.54% 6.14% 6.31% 8.09% 4.02%

1 5 6 4 3 2 7

10.35% 7.93% 7.94% 8.16% 9.82% 10.17% 7.47%

1 6 5 4 3 2 7 19.79% 17.93% 20.18% 32.75%

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(Bharti AXA IM), the asset management joint venture (subject to SEBI license) between Bharti Ventures Limited and AXA Group has announced the appointment of Mr. Prateek Agrawal as the Head of Equity and Mr. Sujoy Das as Head of Fixed Income respectively. Mr. Prateek Agrawal has over 14 years of experience in the Indian equity markets. Having started his career as a member of the SBI Capital Markets research team, Prateek grew to head it in a short span of 10 years. Before joining Bharti AXA IM, Prateek was the Head of the equity team in ABN AMRO Asset Management Company. He joined ABN AMRO AMC in 2004 as a part of the core investment team and at the time of leaving, was managing all their equity funds. Mr. Sujoy Das had a rich experience of over 7 years with DSP Merrill Lynch Fund Managers as a senior member of the Fixed Income fund management team,before joining Bharti AXA Investment Managers inSeptember, 2007. Sujoy brings with him vast experiencein trading, research and fund management. He has spent more than 11 years of his career in the financial markets. Sujoy started his career in1996 with the treasury of Bank of Punjab Ltd. Commenting on the senior appointments, Mr. Sandeep Dasgupta, CEO,Bharti AXA Investment Mnagers Private Ltd. Said, We are delighted to have Prateek and Sujoy on board with Bharti AXA IM. Intellect manpower with adequateon-ground experience is extremely crucial to the business.

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PERSONNEL

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Recruitment Process All the candidates are interviewed by following managers o HR o Regional Head o Line Manager Screening is done on the basis of interview Then evaluation sheet is prepared and various documents are required like address proof, resignation letter from previous company etc. Calls are made to check the references given by candidates. Selected candidates are informed about joining date. Personnel Policies After joining the company, new employees get business code within the four days. New employee is provided training for four days for agency and training for five days for DSF. Training includes basic knowledge of product services, HR, work profile etc. If new employee resigns, he needs to give notice before one month. After 45 days, settlement is done and he can claim for PF. And if he has not given notice before 1 month employee has to pay salary of one month. There is an attendance policy; there are some charges for late comers. For every branch, birthday celebration and other activities are carried out.
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 Formals are compulsory for all employees for whole week except Saturday.

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Training and development

The Learning Curve

U R Here Attitude Skill

Knowledge No Knowledge Conscious Incompetence Conscious Competence

Unconscious Competence

Unconscious Incompetence

The objective of the Confidence Camp o Complete the curriculum defined by IRDA (training for 18 days and 100 hours not more than 6 hours a day). o Understand the basic concepts of life insurance. o Practice and prepare for the pre-licensing examination.

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Overview of training:
Program duration-3 days Intro to the industry and to the company IC33 preparation Pre licensing exam BAL products & AML/ULIP certification Field operations Regular training inputs for a year: Every week one 4 hour session to enhance skills which includes a 3 day selling skills workshop and knowledge of life insurance, products, financial basics, unit linked, business insurance & taxation. Pre licensing examination: Requirement: 50 hours of training for the IC33 exam conducted by Insurance institute of India (III).

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Welfare Activities
1. Cyclone Relief Fund: This activity was carried out by Bharti AXA life insurance to collect funds to save people suffering from disaster. 2.Bharti AXA hearts lives in action: This activity was carried out by Bharti AXA to collect funds for the poor children.

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Production / Operations

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Bharti AXA Life Insurance

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PRODUCTS
Individual Plans : 1. Bharti AXA Dream Life Pension A Unit Linked Pension Product Dream Life Pension, Bharti AXA Life Insurances unique pension product ensures that your retirement life is your Dream Life. Live your Dreams! Be Life Confident! 2. Bharti AXA Life AspireLife Unit Linked Endowment Product. Aspire Life helps you create a pool of wealth to meet your long-term needs, while also providing you adequate protection in case the need arises. 3. Bharti AXA Life Invest Confident Unit Linked Single Premium Product. You have always strived hard to achieve the best for you and your loved ones, so when it comes to making an investment decision, we know that you would expect the best from it too. 4. Bharti AXA Life Wealth Confident A unit-linked investment cum protection policy. Your wealth, your status ensures that you get preferential status wherever you go. So why shouldn't your money get the same?
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5. Bharti AXA Life FutureConfident A unit-linked policy a which offers comprehensive protection along with wealth creation in the long term. 6. Bharti AXA Life FutureConfident II A unit-linked product which offers enhanced protection along with wealth creation in the long term. 7. Bharti AXA Life SaveConfident Traditional money back insurance product for long term savings. Your changing lifestages decide your financial milestone planning. When you foresee intermittent financial requirements in the years to come, like regular expenses related to your childs education, liquidity becomes a key aspect of your planning along with long term savings, and protection for your family. 8. Bharti AXA Life SecureConfident A Long Term Life Insurance. All of us desire to maximise the happiness for our family at all times, irrespective of the circumstances. The thought of unfortunate events befalling us may cause us anxiety about providing a secured happiness to our loved ones.

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Group Plans: 1. Bharti AXA Life Mortgage Credit Shield Mortgage Credit Shield is a Group Product that provides coverage to people who have availed of a Mortgage\ Home loan\ Home equity loan from an Institution/Bank. 2. Bharti AXA Life Credit Shield Credit Shield is a Group Product that provides coverage to people who have availed of a loan for 1 to 5 years from Group Policyholder

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Quality Control
Individual Objectives & Focus
Adherence to process

Measures
Successful: Minimum Satisfactory score in branch certification and audit Outstanding: Above average score in branch certification and audit Successful: above 95% Outstanding: >98% Successful: above 95% Outstanding: > 98% Successful: Above 85% score in the internal branch survey Outstanding: Above 95% score in the internal branch survey Successful: Above 90% achievement in Submission to Issuance TAT Outstanding: Above 95% achievement in Submission to Issuance TAT Successful: above 97% for the review period Outstanding: >98% for the review period Successful: 95% overall resolution provided within TAT Outstanding: 98% overall resolution provided within TAT Successful: Having and regional level impact Outstanding: Having a national level impact

Weight in %
15 25

Accuracy Applied/Paid ratio(Pending management)

20

Response Time / Service Desk

15

Issuance TAT

10 5 5 5

Medical TAT

Complaints Management

Initiatives

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MARKETING

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Areas of operation

BAL BAL

ADC (Airtel Distribution ADC (Airtel Distribution Channel) Channel)

Agency Agency

CAB (Corporate Agent and CAB (Corporate Agent and Brokers) Brokers)

Bancassurance Bancassurance

DSF DSF

Blue Chip Blue Chip Brothers Brothers

Bajaj Brothers Bajaj Brothers

Citi Finance Citi Finance

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 Agency 12 LAs promoted to MoA Puneet Dubey (Jalandhar) MoA promoted MoA II 7 BSM promoted Contests for this month Josh (AMJ) 10,814 registrations for the April& May Exams CAB Corporate agents Jupiter Insurance Consultant (Unicon) & Konnexions empanelled; business commenced ASK Insurance Brokers empanelled. North Region contribution increases to 59% as compared to 40% in 2007-08 Bancassurance Covered 668 group lives Insurance being sold in over 200 CCFIL branches Over 557 loan officers have undergone the (ILI) Investment Linked Insurance training Net Issuance over Rs. 2.0 Crore DSF

10 FAs promoted 1 SM promoted to ARSM (Sadiq Din) Contest for the month Reach for the Sky 35 FAs who qualified for the JFM contest visited Malaysia ARC presence in over 300 ARCs

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COMPETITORS
Before insurance sector was opened to the private sector, Life Insurance Corporation (LIC) was the only insurance company in India. After the opening up of Insurance sector in India there has been a glut of insurance companies in India. These companies have come up with innovative and flexible insurance policies to cater to varying needs of the individual. Opening up of the Insurance sector has also forced the LIC to tighten up its belt and deliver better service. All in all it has been a bonanza for the consumer.

Birla Sun Life Insurance HDFC Standard Life Insurance ICICI Prudential ING Vysya Kotak Mahindra Max New York Life Insurance Metlife India Insurance Reliance Life Insurance SBI Life Insurance Shriram Life Insurance Tata AIG Life Insurance

Advertising and sales promotion Sources of advertisement: Media Mouth to Mouth Hoardings Sponsorship
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Brand forum in India

Why do they need to change their Brand Signature Be Life Confident? Research on the new signature reveals a clear alignment towards customers need and a focus on building trust, which is important for the industry. Hence the signature needs to move from Confidence to the next level of Redefining Standards. What is expected of support functions like IT, HR towards contributing to this exercise? Internal customers are as important as external customers. Hence support functions also need to build trust by following the attributes of being available, attentive and reliable. Be Life Confident is melted into minds. Its very sad to lose that caption. Change is difficult. In this case, it is a progress to the next level of development, more than change. In a country like India with diverse culture and languages and with its geographical length, it would take another two years to reach customers, to tell them or make them understand new brand signature. The new brand signature will be rolled out in local languages and backed by significant expenditure to ensure visibility. But before that, company will do extensive customer research to make the advertising more relevant.

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AXAs new brand signature Redefining Standards

Any promise they make will redefine the benefits that people should expect from insurance services. The Switch the red diagonal line from logo indicates alternatives or changes and so it supports both the form and content of the message. The Switch is AXAs new symbol for change. Three attitudes (availability, reliability and alternativeness) tell their customers clearly what types of service AXA will provide, while conveying our deep commitment to their mission. o Availability: We are there when our customers need us and we listen to them, truly. o Reliability: We say what we do and do what we say, we deliver and keep our customers informed, so that they can trust us. o Attentive: We treat our customers with empathy and consideration, provide personalized advice along their lives and reward their loyalty.

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As a trainee.
My observation Staff is very cooperative. The people with whom I came in contact are as follows. ASIF SANDHI Agency Development Manager PANKAJ Sir PAYAL Madam HR Manager ABHINAV SHUKLA Training Manager KAVAN DAVE Agency Manager MAMTA PARIKH Agency coordinator JIGNESH ACHARYA Branch Distribution Operation Executive Office is fully furnished and fully facilitated by A.C. Each and every person whether he/she is from top management or lower management was behaving very smoothly. The staff has tried to solve our even smallest problem. My experience While taking actual training, I came to learn lot of things. Through this training, I can experience real corporate life as well as the functioning of insurance sector.

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My work profile I need to convince the people to become an agent of Bharti AXA Life insurance. I need to give knowledge about company, companys products, performance as well as future plans. Other work experience Payal madam, HR Manager has given us training in H.R. field. We need to make an evaluation sheet of interviewed candidates and check their references. Abhinav sir, training manager, has given us training in data work. We need to make excel sheets containing data of various candidates.

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METHODOLOGY

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The study and its objective

Pankaj Sir gave me project title named People interested in joining insurance company as an advisor. The objective is to find the number of people interested in insurance sector, how much of knowledge general public is having and why they are interested in insurance sector. That means we need to find the factor insist the people to take interesting in insurance company, etc. I need to make a survey of 100 people. I need to ask some questions to general public and make an analysis on that base. Tools for data collection and data analysis The main tool for data collection and data analysis is questionnaire. The questionnaire contains following types of questions. Are you interested in joining insurance company? Which company would you like to join? Why do you want to join insurance field? Would you like to associate with Bharti AXA? Can you give some references?

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RESULTS

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1.
Interest of people for insurance company

People intrested in joining insurance company People not intrested in joining insurance company

2.
P eople Interested

LIC HDFC ICICI B ajaj A viva Reliance SBI B harti A XA

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3.
Reason for joining insurance field

money fame business

4.
People like to associate with Bharti AXA

People like to associate with B.A.L.

People don't like to associate with B.A.L.

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5.
Reason for Joining BAL

Brand Reputation

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Interpretation of the results

People are not having faith in insurance business. There is a wrong image in the minds of people. People dont want to trust private insurance companies.

Majority of people believe in LIC and ICICI prudential. The market share of ICICI and LIC is very high, while other private insurance companies are making struggles to cope up with the market competition.

People are interested in insurance field basically for money. Firstly they are aimed to earn income. According to survey, out of 47, 21 people are interested in associating with BAL and 26 are not interested. Out of them, majority are interested for reputation only.

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Life insurance in India Life Insurance is the fastest growing sector in India since 2000 as Government allowed Private players and FDI up to 26% .Life Insurance in India was nationalized by incorporating Life Insurance Corporation (LIC) in 1956. All private life insurance companies at that time were taken over by LIC. In 1993 the Government of Republic of India appointed RN Malhotra Committee to lay down a road map for privatization of the life insurance sector. While the committee submitted its report in 1994, it took another six years before the enabling legislation was passed in the year 2000, legislation amending the Insurance Act of 1938 and legislating the Insurance Regulatory and Development Authority Act of 2000. The same year that the newly appointed insurance regulator - Insurance Regulatory and Development Authority IRDA -- started issuing licenses to private life insurers. List of Life Insurers (as of Sept, 2006) Apart from Life Insurance Corporation, the public sector life insurer, there are 17 other private sector life insurers, most of them joint ventures between Indian groups and global insurance giants. Life Insurer in Public Sector
1.

Life Insurance Corporation of India

Life Insurers in Private Sector

1.

ICICI Prudential Life Insurance

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Bajaj Allianz Life, Pranav,Surat 1 3. MNYL Life Insurance 4. Sahara Life Insurance 5. Tata AIG Life 6. HDFC Standard Life 7. Birla Sunlife 8. SBI Life Insurance 9. Kotak Mahindra Old Mutual Life Insurance 10. Aviva Life Insurance 11. Reliance Life Insurance Company Limited - Formerly known as AMP Sanmar LIC 12. MetLife India Life Insurance 13. ING Vysya Life Insurance 14. Max New York Life Insurance 15. Shriram Life Insurance 16. Bharti AXA Life Insurance Co Ltd 17. Future General Life Insurance Co Ltd 18. IDBI Fortis Life Insurance Co Ltd 19. Aegon Religare Life Insurance Co Ltd 20. DLF and Pramerica ( will soon Launch the operations)
2.

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Foreign Direct Investment (FDI) Policy in Insurance Sector As per the current (Mar 06) FDI norms, foreign participation in an Indian insurance company is restricted to 26.0% of its equity / ordinary share capital. The Union Budget for fiscal 2005 had recommended that the ceiling on foreign holding be increased to 49.0%. However, the matter is still under discussions.

Indian Life Insurance Industry Overview All life insurance companies in India have to comply with the strict regulations laid out by Insurance Regulatory and Development Authority of India (IRDA). Therefore there is no risk in going in for private insurance players. In terms of being rated for financial strength like international players, only ICICI Prudential is rated by Fitch India at National Insurer Financial Strength Rating of AAA (Ind) with stable outlook indicating the highest claims paying ability rating. Life Insurance Corporation of India (LIC), the state owned behemoth, remains by far the largest player in the market. Among the private sector players, ICICI Prudential Life Insurance(JV between ICICI Bank and Prudential PLC) is the largest followed by Bajaj Allianz Life Insurance Company Limited (JV between Bajaj Group and Allianz). The private companies are coming out with better products which are more beneficial to the customer. Among such products are the ULIPs or the Unit Linked Investment Plans which offer both life cover as well as scope for savings or investment options as the customer desires. Further, these types of plans are subject to a minimum lock-in period of three years to prevent misuse of the significant tax benefits offered to
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such plans under the Income Tax Act. Hence, comparison of such products with mutual funds would be erroneous.

Conclusion
Insurance sector is a growing sector in India. Nowadays private companies come out with their innovative products and services in insurance field. There is a cut throat competition in each and every field and therefore finally consumers are benefited. It was really great experience to take training in Bharti AXA life insurance Ltd. It is a joint venture between bharti and AXA. I am heartily thankful to all the staff members for their co operation. DHARA DAVE MBA

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Bibliography
www.bharti-axalife.com google search Abhinav sir Asif Sir Pankaj Sir Kavan Sir Mamta mam Jignesh Sir

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