A

PROJECT REPORT ON “TRAINING & RECRUITMENT OF LIFE INSURANCE AGENT” AT BHARTI AXA LIFE INSURANCE COMPANY LIMITED MUMBAI BRANCH

Bharti – Axa Life Insurance (Training Report)

CHAPTER-1
Introduction: A general term „insurance‟ is related to service sector. Insurance is concerned with the protection of economic value of assets. For example in case of a factory or a cow, the product generated by it is sold and income is generated. In this project the Bharti AXA Life Insurance Company is undertaken which is one of the popular sector insurance sectors. The analysis of “Bharti AXA Life Insurance” is taken from different sectors. For creating strong relationship and for a success full business every insurance company required financial planner.

Objective of the study:  How to recruit agents for Bharti-AXA life insurance.  To introduce Bharti AXA to those people who don‟t have any knowledge about Bharti AXA and its products and services.  To understand the process of recruitment and selection of agent in life insurance.  Why people are not willing to work as an agent in life insurance sector especially with private companies.

Need of the study: The study is undertaken to know how many people are interested to work as life insurance agent in Bharti AXA and their thinking about the Bharti AXA Life Insurance Company or about private insurance company.

Bharti – Axa Life Insurance (Training Report)

HYPOTHESIS:  People are much more aware about the aspects of life insurance.  And have knowledge about the role and act of agent.  Mostly people prefer to work with LIC because it is a semi government corporation.

Research Methodology: Research Methodology is the investigation of specific problem in detail. At first problem is defined carefully for conducting research. There should be a good research plan for conducting research. No research can be done without data collection. After all this analyze is made for getting solution for problem.  Defining the problem  Defining the sampling plan  Collection of data  Analyze and interpretation  Methodology for collecting data with reference to the secondary data was taken from different books, magazines, IRDA journals and relevant web sites.  I have collected information from Mumbaikars which includes college student, professors and so on.

Bharti – Axa Life Insurance (Training Report)

Table of Contents
CHAPTER NO. Introduction Objective Hypothesis Methodology PARTICULARS PAGE NO.

CHAPTER-1

CHAPTER 2

INDUSTRY PROFILE COMPANY PROFILE 16-30

CHAPTER 3

CHAPTER 4

INTRODUCTION OF RECRUITMENT 31-45 AND SELECTION PROCESS OF AGENT

CHAPTER 5

DATA PRESENTATION AND INTERPRETATION LIMITATIONS AND FINDINGS CONCLUSION AND SUGGESTIONS BIBLIOGRAPHY

48-53

CHAPTER 6 CHAPTER 7 CHAPTER 8

53-54 54-55 56

In the case of a motor car. the owner and those enjoying the benefits therefore. the product generated by it is sold and income is generated. Insurance is a mechanism that helps to reduce the effects of such adverse situations. The asset would have been created through the efforts of the owner. . The asset is valuable to the owner. An accident or some other unfortunate event may destroy it or make it incapable of giving the benefits. The benefit may be an income or in some other form. There is a life-time for a machine in factory or a cow or a motor car. None of them will last forever. It promises to pay to the owner or beneficiary of the asset. In the case of a factory or a cow. it provides comfort and convenience in transportation. Thus he makes sure that the benefit is not lost. Every asset is expected to last for a certain period of time during which it will provide the benefits. a substitute is made available. After that. Every asset has a value. the benefit may not be available. It is a benefit because it meets some of his needs. The asset would have been created through the efforts of the owner. The owner is aware of this and he can so manage his affairs that by the end of that period or life-time. There is no direct income. because he expects to get some benefits form it. would be deprived of the benefits. In that case. An epidemic may kill the cow suddenly. the asset may get lost earlier. a certain sum if the loss occurs. There is an adverse or unpleasant situation. The planned substitute would not have been ready. Both are assets and provide benefits.Bharti – Axa Life Insurance (Training Report) CHAPTER-2 Industry Profile WHAT IS INSURANCE The business of insurance is related to the protection of the ECONOMIC VALUES OF ASSETS. However.

if loss occurs. insurance began in 1818 with life insurance being transacted by an English company. whereby. the owners would bear the losses in proportion. By 31. After the amendments to the relevant laws in 1999. would throw away some of the cargo to reduce the weight and restore balance. there were 170 companies and 75 provident fund societies transacting life business in India. and not total. the National Indian and Hindustan Cooperative in Kolkata. traveling treacherous river rapids would distribute their goods among several vessels. the National.C.  Later. Such throwing away is called jettisoning} The Greeks had started benevolent societies in the late 7 th century AD. to take care of the funeral and families of members who died. {Captains of ships caught in storms. The losses used to occur because of pirates who robbed on the high seas of because of bad weather spoiling the goods or sinking the ship. is traced to the Lloyd‟s Coffee House in London. if goods are shipped together. In India. would be partial and shared. who used to gather in the Lloyd‟s coffee house in London. as the price for writing off the loans. This was followed by the Bharat Insurance co. the India Mercantile. the Oriental Life Insurance Co. The Chinese traders.Bharti – Axa Life Insurance (Training Report) HISTORY OF INSURANCE  Insurance has been known to exist in some form or other since 3000 BC. The United India in Chennai. These were all Indian companies started as a result of the swadeshi movement in the early 1900s. the new India and the Jupiter in Mumbai and the Lakshmi in New Delhi.8. so that the loss from any one vessel being lost. in 1896 in Delhi. due to jettisoning during distress. .I.2007. in 1870 in Mumbai. The Babylonian traders would agree to pay additional sums to lenders. the Empire of India in 1897 in Mumbai. agreed to share the losses to their goods while being carried by ships. the Bombay Life (originally called the swadeshi life). the L. sixteen new life insurers had been registered and were transacting life insurance business in India. in case of the shipment being stolen. Traders.  The origins of insurance business as in vogue at present. when life insurance business was nationalized and the life Insurance Corporation of India (LIC) was formed on1st September 1956. By the year 1956. did not have the exclusive privilege of doing life insurance business in India. were established the cooperative Assurance in Lahore. The inhabitants of Rhodes adopted the principle of general average of „general average‟.

if death occurs during early years. the payment of life insurance premiums becomes a habit and comes to be viewed wit the same seriousness as the payment of interest on a mortgage. Insurance encourages and forces thrift: A savings deposit can be too easily withdrawn. 5. 2. Many may not be able to resist the temptation of using the balance for some less worthy purpose. It is superior to an ordinary savings plans: This is so because unlike other saving plans. The proceeds of a life insurance policy can be protected against.Bharti – Axa Life Insurance (Training Report) Few Advantages of Life Insurance 1. it affords full protection against risk of death. Further a life insurance policy is sometimes acceptable as security for a commercial loan. 3. In case of death. The beneficiaries are fully protected from creditors except to the extent of any interest in the policy retained by the assured. Easy settlement and protection against creditors: The life assured can name a person or persons to whom the policy moneys would be payable in the event of his death. whereas under other savings schemes the total accumulated savings alone will be available. Ready marketability and suitability for quick borrowings: After an initial period. if the policy holder finds him unable to continue payment of premiums he can surrender the policy for a cash sum. . the full sum assured is made available under a life assurance policy. On the other hand. Thus insurance. Alternatively he can tide over a temporary difficulty by taking loan on the sole security of the policy without delay. The latter will be considerably less than the sum assured. The claims of the creditors of the life are assured by effecting a valid assignment of the policy. in effect brings about compulsory saving. A married women‟s property act policy constitutes a trust in favor of the wife and children and no separate assignment is necessary.

worry and anxiety associated with this future uncertainty and thus encourages free investment of capital in business enterprises and promotes efficient use of existing resources. Their investments benefit the society at large. Insurance removes the fear. .  The management of insurance companies is required to keep this aspect in mind and make all its decisions in ways that benefit the community.  The very existence of risk that is. therefore.Bharti – Axa Life Insurance (Training Report) Role of Insurance in Economic Development  For economic development. Investments are made out of savings. uncertainty concerning the future.  An insurance company‟s strength lies in the fact that huge amounts come by way of premiums. particularly from the middle and lower income groups. In effect. Every premium represents a risk that is covered by that premium. The funds are collected and held in trust for the benefit of the policyholders. This applies also to its investments. is a severe handicaps in economic activities. these vast amounts represent pooling of risks.  The system of insurance provides numerous direct and indirect benefits to the individual and his family as well as to industry and commerce and to the community and the nation as a whole. A life insurance company is a major instrument for the mobilization of savings of people. This is why successful insurance companies would not be found investing in speculative ventures. These savings are channeled into investments for economic growth. investments are necessary.

 Insurance ranks with export trade.Bharti – Axa Life Insurance (Training Report)  Thus insurance encourages commercial and industrial development and there by contributes to a vigorous economy and increased national productivity. It helps to earn foreign exchange and represent invisible exports. shipping and banking services as earner of foreign exchange to the country. .

Today. .Bharti – Axa Life Insurance (Training Report) CHAPTER-3 Company profile History of Bharti Axa life Insurance Bharti AXA Life Insurance is a joint venture between Bharti. world leader in financial protection and wealth management. agri-business and retail. The joint venture company has a 74% stake from Bharti and 26%stake of AXA. Open first branch office in Hyderabad. you can be confident that Bharti AXA Life will offer the right financial solutions to help you achieve them. company have over 8000 employees across over 12 states in the country and a national footprint of distributors trained to provide quality financial advice and insurance solutions to the large Indian customer base. Introduces 2 unit linked products.“future confident‟ and „wealth confident‟ As we further expand our presence across the country with a large network of distributors. Whatever your plans in life. one of India‟s leading business groups with interests in telecom. we continue to provide innovative product and service offerings to cater to specific insurance and wealth management needs of customers. and AXA. The company launched national operations in December 2006.

Bharti – Axa Life Insurance (Training Report) Vision “To be a leader and the preferred company for financial protection and wealth management in India” Professionalism Team Spirit Innovation Value s Pragmatism Integrity .

infrastructure and customer base  To deliver high levels of shareholder return  To build long term value with our business partners by enhancing the proposition to their customers  To be the employer of choice to attract and retain the best talent in India  To be recognized as being close and qualified by our customers .Bharti – Axa Life Insurance (Training Report) Strategy  To achieve a top 5 market position in India through a multi-distribution. multi-product platform  To adapt AXA's best practice blueprints as a sound platform for profitable growth  To leverage Bharti's local knowledge.

5 G network. With a strong distribution network across the country. Bharti Retail Pvt Ltd Bharti Retail is a wholly owned subsidiary of Bharti Enterprises. The Company is India‟s largest integrated telecom company in terms of customer base and offers Mobile Services. It is one of the largest manufacturers of landline telephones in the world. Blackberry. Airtel also offers mobile services in Sri Lanka on a state-of-the art 3. Thomson. and Logitech. the company is also the primary distributor of IT and Telecom products from international brands such as Motorola. The company‟s neighbourhood format stores operate under the "Easyday" brand and the compact hypermarket format under the “Easyday market” brand. DTH. . Bharti TeleTech Ltd Bharti Teletech is India‟s leading telecom & allied Products Company.Bharti – Axa Life Insurance (Training Report) Bharti Group Bharti Airtel Ltd Bharti Airtel Ltd is one of Asia's leading telecommunications service providers. Transcend. Bharti Retail operates a chain of multiple format stores that offer consumers affordable prices. Polycom. Fixed Line services. great quality and wider choice. Long Distance and Enterprise services. Broadband & IPTV.

Bharti AXA Life Insurance Company Bharti AXA Life Insurance Company Ltd is a joint venture between Bharti Enterprises and AXA. world leader in financial protection and wealth management. The company offers a range of life insurance and wealth management products with an endeavour to help customers lead a confident life. The company was incorporated in July 2007 and offers a full suite of general insurance solutions to meet the needs of businesses and individuals alike. . world leader in financial protection and wealth management.Bharti – Axa Life Insurance (Training Report) Bharti AXA General Insurance Company Bharti AXA General Insurance is a joint venture between Bharti Enterprises and AXA.

starting from the end of 10th policy year   Change your planned retirement age any time during the policy term Obtain tax benefits as per the prevailing tax laws on the premiums paid and the benefits received under the policy.Bharti – Axa Life Insurance (Training Report) Products of Bharti-AXA Life Insurance Individual Plans:Bharti AXA Dream Life Pension:A Unit Linked Pension Product Dream Life Pension. Bharti AXA Life Insurance‟s unique pension product ensures that your retirement life is your Dream Life. Key Benefits:  Unmatched flexibility for retirement wealth creation o o Pay one time lump sum or regular premiums At the inception systematically increase your premiums by 5 % or 8% each year with the Accumulator Option o o  Increase/decrease premiums any time after the 2nd policy year Add top up premiums any number of times after the 1st policy year Dream Life Pension enhances your retirement kitty by providing special addition. . Live your Dreams! Be Life Confident.

unique special additions and life insurance benefit. a unit-linked investment cum protection product.   Five times the life cover of your annual premium. Special additions of units added every year from 6th Year for incremental wealth creation. Live confident with WealthConfident. not only makes your money grow but also provides your investment the special treatment that it deserves. flexibility and loyalty benefits. while your policy continues for ten years. Your wealth. .  Choose from four different investment funds to meet your financial objectives. Higher allocation of your premium up to 88% for investment. higher allocation of your premium for investment. premium payment flexibility. Tax benefit under 80C and 10(10D)." Key Benefits:    Pay premium for five years. So why shouldn't your money get the same? WealthConfident. your status ensures that you get preferential status wherever you go. with its limited period premium payment facility of 5 years.Bharti – Axa Life Insurance (Training Report) Bharti AXA Life Wealth Confident:A unit-linked investment cum protection policy. "Be confident of providing your investments the right mix of growth.

irrespective of the circumstances. Group Plans :Bharti AXA Life Mortgage Credit Shield:Mortgage Credit Shield is a Group Product that provides coverage to people who have availed of a Mortgage\ Home loan\ Home equity loan from an Institution/Bank. Tax benefit under section 80C and 10(10D) of Income Tax Act. . All of us desire to maximise the happiness for our family at all times. The thought of unfortunate events befalling us may cause us anxiety about providing a secured happiness to our loved ones.Bharti – Axa Life Insurance (Training Report) Bharti AXA Life Secure Confident:A Long Term Life Insurance.15.20.25 years. Key Benefits:     Term Assurance for 5. Financial protection against unfortunate event of death at an affordable cost.10. Comprehensive overall protection with help of riders.

working conditions and advantages. especially with private player. Recruiting the top talent for a job takes time and you have to attract quality candidates who have the knowledge and skills needed to help your company grow. you want to be sure that your potential candidate truly understands the job. Prepare a job ad that works to start. your success with recruitment depends on how well you prepare your job ad.  To introduce Bharti AXA to those people who don‟t have any knowledge about Bharti AXA and its products and services. and your interviewing skills. and use source of recruitment. The clearer you are with the task description. Meaning of Recruitment Finding the right people is a make-or-break factor for success in business today.Bharti – Axa Life Insurance (Training Report) CHAPTER-4 Introduction of the process of recruitment and selection of agent Objectives of the study  To understand the process of recruitment and selection of agent in Bharti AXA life insurance. The fact is.  How to recruits agent for Bharti-AXA life insurance  To know about the view of general public about the job of agent  Why people are not willing to work with as an agent.  On The project gave a practical exposure and helps in acquiring the on road skills. the less time you will waste examining and rejecting applications .

Bharti – Axa Life Insurance (Training Report) The essentials of any job description are:  A brief description of your company  Detailed outline of the tasks involved  Qualifications and experience required  Equipment and resources used to do the work  Skills required using them. knowledge and achievements. friends and colleagues about a job opening. or international pool. . worldwide access to employees. or simply telling your employees.com and jobboom. This is a preferred method with companies that have a finder's fee program for their employees. Bear in mind that the largest employment agencies do not necessarily offer the best choice of candidates. The advantage is that you already know something about your recruiters and their skills. and only send you the applications that meet your requirements. The employment advisors look at your needs. Using the Internet for recruiting usually involves regular visits to specialized recruitment sites. national. screen a number of candidates. Recruiting online such as monster. Advertising is a toss of the dice. There are numerous agencies that specialize in recruitment in specific sectors. is a less expensive strategy but generates fewer candidates. electronic publications and on your own Web site. These can provide inexpensive. Word of mouth. it's a costly investment yielding few results. Employment agencies cost more but generally provide a good range of candidates.ca. In fact. If it goes well.com. If not. it can help you find ideal candidates in a regional. Make sure to factor in the time it takes to go through a large number of resumes. and posting your job openings on recruitment sites. 65% of job seekers now have access to these types of services. workopolis. joining newsgroups.

This will enable you to evaluate the candidates' knowledge. it should be structured to bring out all the desired competencies and aptitudes. This will give you the chance to gauge the candidates' self-confidence.  Ask the candidates to describe a difficult situation involving colleagues and how it was resolved. creativity and problem-solving skills. skills and work methods. Make the interview deliver Since the purpose of an interview is to identify and verify the candidate's potential. . They can get the interview off track or annoy people who want to keep their work and private lives separate. Beware of asking questions about personal interests.  Present the candidates with a situation they could face on the job and ask them how they would react. Here are a few points to consider when structuring an interview:  Make a list in advance of the points for discussion and corresponding questions. This will enable you to test their aptitude for teamwork.Bharti – Axa Life Insurance (Training Report) After recruitment the next part is selection of best candidates.  Ask the candidates to describe some difficult situations encountered in previous jobs and to explain the way in which they were resolved.  Ask the candidates about their ambitions and plans to ensure they fit your company profile. Remember that you have to decide between the candidates: you could create a point system or analysis grid for comparing their strengths and weaknesses.

He is. The insurance company is the principal in this case.” consultants” etc.  An agent is one who acts on behalf of another. In the insurance industry. in consideration of his soliciting of procuring insurance business. The agent represents the principal and acts on his behalf. as if they are independent advisor or consultant would not be appointed by an insurance company. the term “agent” is ordinarily applied to a person engaged by the insurer to procure new business. Some insurers designate their agents as „advisers”.Bharti – Axa Life Insurance (Training Report) Definition of Agent  According to section 182 of Indian contracts Act. an authorized salesman for insurance and needs a license. is called the principal in this case. for all purposes. The lawyer is the agent of the client. An ambassador is an agent of his country. The insurance Act definers and insurance agent as one who is licensed under Section 42 of that Act and is paid by way of commission or otherwise. He would be knowledgeable enough as a person to be approached for advice or consultation. an “agent” is a person employed to do any act for another or to represent another in dealing with a third person. . The “another” on whose behalf the agent acts. All insurance agents should strive to attain that status. Some insurance agents may acquire that status. including business relating to the continuance. renewal or revival of policies of insurance. when he argues the case in court.

in each insurance company. Found violating the code of conduct as specified in the regulations. The fee for a license is Rs. It may be renewed after 3 years and again valid for 3 years. The Qualifications necessary before a license can be given are that the person must be (a) (b) Not a minor. In terms of the Insurance Act. (e) (f) (g) not possessing the requisite qualifications and specified training.) .000 or more. a license will not be given if the person is (a) minor. dishonesty or misrepresentation against an insurer or an insured. for a general insurer or as a composite insurance agent working for a life insurer as sell as a general insurer. (b) (c) found to be of unsound mind.Bharti – Axa Life Insurance (Training Report) Procedure for becoming an Agent  The insurance Act. if he is to be appointed in a place with a population of 5. A license is granted for 3 years.825 for individual.  A license issued by the IRDA may be to act as an agent for a life insurer. The license is to be issued by the IRDA. No agent is allowed to work for more than one life insurer or more than one general insurer. (10 th standard otherwise. Have passed at least the 12th standard or equivalent examination. 1938 lays down that an insurance agent must possess a license under Section 42 of that Act. to issue the licenses on behalf of the IRDA. The IRDA has authorized designated persons. found guilty of criminal misappropriation or criminal misappropriation or criminal breach of trust or cheating or forgery or an abetment of or attempt to commit any such offence (d) found guilty of or knowingly participation in or conniving at any fraud.

(2) 10 year. for appearing in the prescribed examinations. In Section 44. the applicant should have completed at least 75 hours practical training in life and general insurance business.250. d) Have passed the pre-recruitment examination conducted by the insurance institute of India or any other examination body authorized by the IRDA. Insures who select agents for appointment. This commission will be payable to the heirs of the agent after the agent‟s death. .000 are in force one year before termination of agency or. an additional fee of Rs. IN the case of a person wanting to become a composite insurance agent. If the application is not made at least thirty days before the expiry. The license once issued. which may be spread over six to eight weeks. for payment of commission on renewal premium even after termination of the agency. but is made before the date of expiry of license. the agent should have completed at least 25 hours practical training in life or general insurance business or at least 50 hours practical training in life and general insurance business in the case of a composite insurance agent. the agent should have been an agent with that insurer for at least (1) five years and policies for at least Rs50. form an institution.Bharti – Axa Life Insurance (Training Report) (c) Have undergone practical training for at least 50 hours in life or general insurance business. it would be normally being refused. The commission will be limited to a rate not exceeding 4%. to be eligible for this. along either the renewal fee of Rs. If the application is made after the date of expiry. can be cancelled whenever the person acquires a disqualification. as the case may be. and obtaining the license.100 is payable . Applications for renewal have to make at least thirty days before the expiry of the license. make arrangements for training. Prior to renewal of the license. approved and notified by the IRDA. NOTE The insurance Act provides.

nomination and other necessary alterations. medical examination.  Be totally honest with both the prospect and the insurer.  Not to induce prospects to submit wrong information. which are necessary to get the policy expeditiously.  Complete the formalities:. .Bharti – Axa Life Insurance (Training Report) FUNCTION OF AN AGENT  Understanding the prospect‟s needs and persuade him to buy a plan of life insurance that suits his interests best.  Keep in touch to ensure that changing circumstances are reflected in the arrangements relating to premium payments.  Facilitate quick settlement of claims.paper work.

Bharti – Axa Life Insurance (Training Report) Career with Bharti AXA  Opportunity to earn unlimited income.  Payout structured to facilitate your cash flows better. .  High quality training & Support to improve productivity.  Compensation amongst the best.  Pension for life.  Best in class & competitive products.  Be your own boss.  Career Growth.  Club member benefits.

Bharti – Axa Life Insurance (Training Report) Recruitment Process Develop a Profile Develop sources of recruitment Approaching the Targeted recruits Initial screening and Interviews Reality check .

Bharti – Axa Life Insurance (Training Report) Sources of Recruitment Controlled Uncontrolled Natural Market Job Ads/Inserts Central of Influence Placement Consultants Agent gets Agents Presentation / Seminar Cold Prospecting Data Base Primary Secondary .

.Bharti – Axa Life Insurance (Training Report) Controlled Market Natural market  Your family  Your friends  People at job/business  Neighbors Extended Natural market  The following are sources of names:  People know through children.  People know through hobbies/ games. CENTRE OF INFLUNCE  People with influence and prestige.  Friends of friends. other member of society believe and faith on them.  People you do business with.  People known through social groups  People known through public service.  People who have contacts with the class of people you want to deals with.  People who have a big circle of relationships: like secretary in societies. president of an association.  People who are known to you and are willing to help you.  People know through spouse.

Bharti – Axa Life Insurance (Training Report)  People who have faith in your leadership. Database  Primary data: Direct collection of data of from the source of information. Uncontrolled Sources Job Ads/Inserts  This program should be on regular long range basis. . OR Bharti AXA Life Insurance Company participate in the job fairs and then short list Prospects and then look for further opportunities for them.  Example: Gul Mohan Sharma who is a relationship officer in Bhrati AXA Life Insurance company put an ad in the newspaper. Seminars/job fairs Manager of agency can also organized seminars at Management Institutions and Colleges. Cold Prospecting  MOA can use the telephone directory. in which he called for the reader to phone him during a specified 2 to 4 hours period on Monday or Sunday morning  From those who called Gul Mohan Sharma was able to eliminate more misfits (who are not qualified) and arrange for two to six personal visits. survey etc. Placement consultants MOA can recruit a placement consultant or register himself in internet job search sites to get list of prospects. technology including personal interviewing.  MOA and Telecaller can use the directories of various business and social organizations.

Point to be noted while recruiting the Agents  Mature and responsible family person.  Greedy person.  Social and amiable. challenges. .Bharti – Axa Life Insurance (Training Report)  Secondary Data: Indirect collection of data from sources can be purchased from the open market and various kind of database are available such as telephone databases of various surveys.  For how many years he is living in the city.  Ambitious.  Family income.  Any experience in life insurance sector.  Occupation of parent. hungry for recognition.  Occupation.  Leadership qualities.  Experience and current designation.

Bharti AXA is going to expend the Business by recruiting quality people and offering them the potential of a very rewarding career opportunity. I want your few minute to speak.Bharti – Axa Life Insurance (Training Report) Sources for Recruitment and Selection of Agent Used during Training Natural Market Market Survey Secondary Data (Telephone Directory) Telephone Script Hello sir. Riyaj Shah from Bharti AXA. I am Md. We have acquired your business card and we are aware of the company you work for and you are one of the selective person with whom our company want to concern. . It may have for you in terms of career compensation and support. So I would like to meet you for coffee to explain the exciting and rewarding opportunity. Sir. (Excellent I look forward to meeting you please May I have your address and I will confirm our meeting in writing) OR (According to your convenience will you please tell me when and where we can meet?) Thank You Sir.

if a policy is sold by Bharti-AXA manager for 10. In this business you only have to contact your known people or regular customers and their references to introduce Bharti‟s product and get an appointment. explain the product & close he sale for you.(Mobile stores. General store. Please specify Script Bharti has expanded into new territories of business and they now offer the best in class insurance products. Chemist etc. Sunil Bharti Mittal for Punjab and Chandigar 1) Would you be interested in taking up this business opportunity with Bharti? . manager form Bharti-AXA will go. Post this. Sunil Bharti Mittal is introducing insurance to Punjab and Chandigarh retailers and would like to give you an opportunity to earn and setup a new income which can give you 15-20% margin on an average.g. Shop Type: . This new venture is named Bharti-AXA.000 you will receive 2. We are here to understand your interest in this proposal specially designed by Mr. You will in turn receive 15-20 % margin on sale.000. E.Bharti – Axa Life Insurance (Training Report) CHAPTER-6 Data Presentation and Interpretation Name: Address:Location:Mobile no. Mr.

 2 said that they can spend ½ to 2 hours for this activity.Bharti – Axa Life Insurance (Training Report) Yes No 0. 80% no  Only 20% Students were interested in taking up this business opportunity with Bharti. 0% 0. 6 people said that they can spend ½ hour for this activity daily. 20% yes 32. 0% 8.75% 4 to 5  From the above 8 people. 3) Do you have any knowledge of or experience in Insurance? .25% half hour 1/2 to 2 2 to 4 6.(8 students were interested in this activity) 2) How much time can you dedicate per day for this activity? (For getting Appointments) ½ hr 1-2 hrs 0% 0% 3-h hrs 5 hrs or more 2.

80% yes  80% of students at them have knowledge about insurance.  20% of students said that they have no knowledge about insurance.Bharti – Axa Life Insurance (Training Report) Yes No 0. . 0% 0. 0% 6. 15% yes no 34.  85% of students have no experience in the field of life insurance. 20% no 32. 85%  15% of students have experience in the field of life insurance. 4) Do you have Experience as an agent? Yes No 0. 0% 0. 0% 8.

0% 4. 0% 0. 0% 1. then please specify the name of the company.50% HDFC ICICI 2. 0. Ltd. 10% Yes 36.Bharti – Axa Life Insurance (Training Report) If yes. 33%  Out of 6 people 33%(3) of students working with LIC  33% (2) of students working with HDFC Standard Life insurance  33% (1) of students working with ICICI Prudential Life Insurance Co. . 90% no 10 % of students were interesting to spare 1/2 day on training to understand to product. 17% LIC 3. 5) Can you spare 1/2 day on training to understand to product and how can introduce it to your customer? Yes NO 0.

Bharti – Axa Life Insurance (Training Report) QUESTIONNAIRE 1. Would you be interested in taking up this business opportunity with Bharti? Yes No 2. How much time can you dedicate per day for this activity? (For getting Appointments) ½ hr 1-2 hrs 3-h hrs 5 hrs or more 3. then please specify the name of the company. . Do you have any knowledge of or experience in Insurance? Knowledge Yes No Experience Yes No If yes.

Can you spare ½ day on training to understand the product and how can introduce it to your customer? Yes No 5.Bharti – Axa Life Insurance (Training Report) 4. How many people do you know in this city? Under 50 51-100 101-300 301-600 Above 600 Chapter-7 .

Bharti – Axa Life Insurance (Training Report) Limitation  I didn‟t get complete feed from the students about the question as they are busy in their work and had less time to fill questioned.  No money available for project ( My pocket expenditure )  Lack of knowledge and interest. .  Sincerity of answering the questions cannot be judged.  Time was the major constraint for me to understand the long process of recruitment and selection.

.  Most of people say that this job affects upon their social relation with other and also effect upon their business.  During the training period we felt that most of people who are already working in insurance sector think that it is easy to sell the product of LIC than to sell the product of other life insurance company.Bharti – Axa Life Insurance (Training Report) Finding Why people are not ready to work with private players in life insurance? Or Why people are not ready to work as an agent in any company?  In these days LIC created a very well image in the mind of General public because it is semi Government Company and also an oldest company.  People think that it is a time consuming activity and also required huge market skills.  Some people said that only greedy people like to work in insurance sector.  Most of people believe that private insurance companies carried out fraud activity that‟s why they never believe upon the private players. In short most people of Indian believe upon the LIC only.

Some people who has low income they were not interested in life insurance but when I told them about different – different plan so they were quite interested in it. I hope they will definitely change their mind & will be aware of benefits of life insurance. I concluding the whole story it can be said that people are much more aware about the aspects of life insurance and also have knowledge about the role and act of agent but mostly people unwilling to work as life insurance agent and mostly people prefer to work with LIC because it is a semi government corporation.Bharti – Axa Life Insurance (Training Report) Chapter-8 Conclusion In India. . there is throat cut competition in the market of life insurance that brand service which adopt new strategies for sales.

 An insurance company must work with honesty to win the confident of its agent and general public.  Increase the commission of agents. through proper advertisement it become easy to sell the product.  Bharti-AXA Life Insurance Company must organize more and more seminars and also participate in the job trade fairs to find out more candidates.  Better career opportunity must be provided to an adviser. . promotion etc.  Fees charged by companies from candidate for IRDA exam and training should reduce. special price on achieving a target.  Company must relic to candidate or other people that they are doing a social service for the welfare of society. as it help in enhance its goodwill and more people are willing to work with reputed companies. such as on role job.  Many other extra facilities must be provide to agent to attract them such local and foreign trips. open bank account at free of cost.Bharti – Axa Life Insurance (Training Report) Suggestions  Bharti-AXA life insurance company must give more advertisements on electronic media and print media.  Training hours should be made choice of their preference timing.  Duration of training must be reducing as in these day people have no extra time.

ibef.org www.J Gidwani Publishers.com www. Chapter-9 BIBLIOGRAPHY IC-33 Life Insurance.irdaindia.org . Mumbai www.Bharti – Axa Life Insurance (Training Report)  A special function must organize time to time in which the special prizes distribute among those agent who perform well.  Reduce the minimum premium amount it will help company to attract the agent of other company. Shri S.org www.bhart-axalife. as it increases the scope of market of its agent.wikipedia.

Sign up to vote on this title
UsefulNot useful