1. HR POLICIES OF TATA AIG By: Ashish Bhargav Deepanjali Shukla Nandita Kapoor Somiya Sripriya Sweta Behera Rajat Mehrotra

2. TATA AIG INSURANCE COMPANY

Tata AIG Insurance Solutionsis one of the leading insurance companies that provide both life insurance as well as general insurance.

Joint collaboration between the American International Group, Inc. (AIG) and Tata Group.

They own the company in the ratio of 26:74.

It is a leading financial institution that has carved a niche for itself all over the world.

3. TATA AIG GENERAL INSURANCE COMPANY

Tata AIG General Insurance Company started its operations in India on January 22, 2001,

Gaurav D. Garg is the Managing Director& CEO, Tata AIG General Insurance Co. Ltd.

4. TATA AIG LIFE INSURANCE COMPANY

Tata AIG Life Insurance Company was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.

Mr. Suresh Mahalingam, (M. Suresh) ,MD, Tata AIG Life Insurance Company. 5. Human Resource Policies

Human resource policiesare systems of codified decisions, established by an organization, to support administrative personnel functions, performance management, employee relations and resource planning.

6. Organizational Structure of TATA AIG 7. Functions of the HR Department of TATA AIG

Recruitment and Selection

Induction

Competence Development

Providing compensation and other employee benefits

Performance Management

Talent and Career Management

8. Sources of Recruitment

Placement Agencies and Consultants

Campus Recruitments

Off-campus Recruitments

Internal Job Postings

Promotions(existing employees)

Moving across verticals(existing employees)

9. Selection Process

There is a screening process based on the resumes of applicants followed by group discussion and personal interview.

10. Types of Employees

TATA AIG has bothpermanent employeesas wellemployees on contract basis .

Both are on company pay rolls.

Company employsfinancial advisorswho are not on company pay roll but work on commission basis.

11. Career Options at TATA AIG

Sales & Distribution

Customer Service

Branch and Centralized Operations

Underwriting & Actuarial Functions

Claims

IT

Marketing & Communications

Finance & Accounts / Legal

Human Resources and Training & Development

12. Compensation of Employees

Basic- 30% of annual salary

Bonus(yearly)

HRA

Medical Allowance

Conveyance Allowance

Other Allowance(Food, mobile phone bills, etc.)

13. Benefits apart from salary

Mediclaim

Superannuation benefits

Performance bonus

Incentives

14. Measuring Employee Performance

Goal Sheet

Target Achievement

Quality of work

Ethics used in target achievement

Customer satisfaction

15. Training and Development of Employees

Company conducts on-the-job training(OJT) programs for its employees.

• Functional programs- for expertise in respective domain.

• Talent Acceleration programs- improving soft skills

Eligibility Criteria: voluntarily by self nomination orwhen nominated by the branch managers.

Duration: Monthly or Quarterly or Weekly depending upon product and requirement.

E-learning courses and Insurance Institute of India courses.

Career progression programmes

Leadership Development ladder

16. Motivating Employees

Motivational training programmes

Providing Incentives

Recognition to employees

Providing sponsored holidays for employees and their family

Helping them in converting a prospect into a sale.

17. Special Motivational Programmes

Friday Movie Mania

Recharge zone

Sports Club

Annual Theme Party

Celebration Week

Town Hall

World of Work(WOW)

18. Rewards and Recognition for employees

The Success Matrixis aprogrammewhere they recognize the performance and contribution of employees through timely measures. This was inspired by the mythological theme of Greek Gods combined with the blockbuster "The Matrix.

• consists of three categories for recognizing Individuals, Teams on a Monthly, Quarterly & Annual basis as well as SPOT Recognition.

• recipients are acknowledged for their contribution though Awards and citations displayed on the "Wall of Fame" at all the branches.

19. Grievance Redressal

There isno proper grievance cellbut they have aDisputes Settlement Departmentwithin the organization which looks after settling issues among employees or any complaints of the employees.

20. Employee Health and Safety Measures

Fire Alarms and Extinguishers

Sprinklers

First-aid boxes

Mediclaim

Accident benefits

Insurance cover for whole family

21. Employee Retention Strategy

Career Progression Programmes

Various motivational measures and programmes for employees as well as their family members.

Performance based appraisal

Performance based work culture

Provides work-life balance

22. Equal Opportunity Employer

TATA AIG does not discriminate between men and women while employing people.Men as well as women are considered equally even if a particular job is very challenging and difficult.

It also provides employment to physically disabled people.

23. Conclusion

Tata AIG offers exciting opportunities to learn, contribute and build careers. As a leading name in the fast-paced insurance industry, they are constantly growing and are always in search of bright talent across all levels. The Company's philosophy is strongly oriented to developing talent through larger and more enriching assignments. They recognize potential and consistent performance and their dynamic corporate culture can be summed up asWork hard, play hard.

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