report on bharti axa

8/9/2019 report on bharti axa

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REPORT

ON

BHARTI AXA INSURANCE LIMITEDCOMPANY

(July 1-2010 to august 15- 2010)

Submitted by:

Tabish Iqbal

ACHARYA INSTITUTE OF TECHNOLOGY

Soldevanahalli, BANGALORE-90

TABLE OF CONTENTS


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ACKNOWLEDGEMENT

ABOUT INSURANCE

ABOUT THE LIFE INSURANCE SECTOR

INTRODUCTION TO THE COMPANY

PRODUCTS AND SERVICES

DISTRIBUTION STRATEGY OF BHARTI AXA LIFE

INSURANCE

CONCLUSIONS

FUTURE GROWTH

PROSPECTS AND SUGGENSTIONS

REFERENCES

Life in Bharti Axa

Other activities

Fun


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ACKNOWLEDGEMENT

I am thank full to mr. dilip manepalliwho gave me theopportunity to work with Bharti Axa as a trainee. I am also

thank full to miss latato guide us in different waysregarding understanding the products etc.

I really thank god to provide me good health during my

training period which actually helped me to complete my

internship programme specially to achieve the sales targetand to complete this report successfully in time.


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ABOUT INSURANCE

Definition Of Insurance

Insurance is a contractual-type financial intermediary that

offers the public protection against the financial costs associated with

the loss of life, health, or property in exchange for premiums.

An agreement that guarantees the payment of a stated amount

of monetary benefits upon the death of the insured. Risk insurance

intended as protection against the financial consequences of the

death of the insured person, which takes the form of payment of a

previously agreed lump sum or pension to a beneficiary, if the insured

person dies during the term of insurance. In the case of pure life

insurance, without any endowment insurance component, no

payments are due if the insured person survives the term of

insurance.

Insurance is that which provides protection against the

economic loss caused by the death of the person insured.

Insurance is a federal subject in India. The insurance sector

has gone through a number of phases and changes. Since 1999,when the government opened up the insurance sector by allowing

private companies to solicit insurance and also allowing FDI up to

26%, the insurance sector has been a booming market. However, the

largest life-insurance company in India is still owned by the

government.


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HistoryInsurance in India has its history dating back until 1818, when

Oriental Life Insurance Company was started by Anita Bhavsar in

Kolkata to cater to the needs of European community. The pre-

independent era in India saw discrimination among the life of

foreigners and Indians with higher premiums being charged for the

latter. In 1870, Bombay Mutual Life Assurance Society became the

first Indian insurance company covering Indian lives at normal rates.

At the dawn of the twentieth century, many insurance companies

were founded. In the year 1912, the Life Insurance Companies Act

and the Provident Fund Act were passed to regulate the insurance

business. The Life Insurance Companies Act, 1912 made it

necessary that the premium-rate tables and periodical valuations of

companies should be certified by an actuary. However, the disparage

still existed as discrimination between Indian and foreign companies.

The oldest existing insurance company in India is the NationalInsurance Company Ltd., which was founded in 1906. It is in

business. Before that, the industry consisted of only two state

insurers: Life Insurers (Life Insurance Corporation of India, LIC) and

General Insurers (General Insurance Corporation of India, GIC). GIC

had four subsidiary companies.

With effect from December 2000, these subsidiaries have been de-

linked from the parent company and were set up as independent

insurance companies: Oriental Insurance Company Limited, New

India Assurance Company Limited, National Insurance Company

Limited and United India Insurance Company Limited.

Currently, in India only two million people (0.2 % of the total

population of 1 billion) are covered under Mediclaim, whereas in


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developed nations like USA about 75 % of the total population are

covered under some insurance scheme. With more and more private

companies in the sector, the situation may change soon.

Acts

The insurance sector went through a full circle of phases from being

unregulated to completely regulated and then currently being partly

deregulated. It is governed by a number of acts.

The Insurance Act of 1938[1] was the first legislation governing all

forms of insurance to provide strict state control over insurance

business.

Life insurance in India was completely nationalized on January 19,

1956, through the Life Insurance Corporation Act. All 245 insuance

companies operating in the country were merged into one entity, the

Life Insurance Corporation of India.[2]

The General Insurance Business Act of 1972 was enacted to

nationalise the about 100 general insurance companies and

subsequently merging them into four companies. All the companies

were amalgamated into National Insurance, New India Assurance,

Oriental Insurance and United India Insurance, which wereheadquartered in each of the four metropolitan cities.[3]

Until 1999, there were not any private insurance companies in India.

The government then introduced the Insurance Regulatory and

Development Authority Act in 1999, thereby de-regulating the


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insurance sector and allowing private companies. Furthermore,

foreign investment was also allowed and capped at 26% holding in

the Indian insurance companies.

What is life Insurance?

Life Insurance is a contract providing for payment of a sum ofmoney to the person assured or, to the person entitled to receive the

same, on the happening of a certain event.

The Insurance Institute of America defines insurance as three

things. First, insurance is a transfer technique whereby the insured

transfers the risk of financial loss to another party, the insurance

company or insurer. Second, it is a contract between the policyholder

and the insurer that states what financial consequences of loss are

transferred and expresses the insurer's promise to pay for those

consequences. Third, insurance is a business and, as such, needs to

be conducted in a way that earns a reasonable profit for its owners.

The money a policyholder pays an insurer is small compared to

the potential for loss. If a family's house were to burn down, they

probably could not afford to replace it without insurance. The

insurance system enables someone to transfer the financial

consequences of this loss to an insurance company. The insurancecompany, in turn, pays for covered losses and distributes the costs

among all of its policyholders. In that way, your fellow policyholders

share the cost of your loss, as you share in theirs.


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A family is dependent for its food, clothing and shelter on the

income brought by the family's breadwinner. The family is secure so

long as this breadwinner is alive and is capable of earning. A sudden

death (or disability) may leave the family in a financially difficult

situation. Uncertainty of death is inherent in human life and thisuncertainty makes it necessary to have some protection against the

financial loss arising from untimely death. Life insurance offers this

protection.

The Greeks and Romans started the earliest type of life

insurance. Contributions were made by all surviving members for the

burial cost of a member. In case of the death of a member the cost ofburial was made out of the contributed fund.

In the 17th century, the Tontine Annuity system was introduced

where associations of individuals were formed without any reference

to age, and a fund was created by equal contributions from each

member. The sum collected was invested, and at the end of each

year the interest was divided among the survivors. The last remainingsurvivor received both the year's interest and the entire amount of the

principal.

The first organized life insurance company was founded in

1759 in Philadelphia, in North America. Subsequently, over the past

three centuries, numerous life insurance

Companies sprung up, making life insurance a popular tool forprotection coupled with investment.


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Why do we need Life Insurance?

We need Life Insurance because typically the need for income

continues for those who are financially dependent on you, but there is

no guarantee of your ability to earn consistently and for the rest of

your life. Life insurance can help you safeguard the financial needs of

your family.

This need has become even more important due to steady

disintegration of the prevalent joint family system, and emergence of

nuclear families. The need to protect your family's ever growing

needs is why you need Life Insurance.

Replacement of Income

Life insurance products can provide support to the family and

take care of the family's financial requirements. It provides a lump

sum or periodic payments to help replace the income stream, in case

of an unfortunate event or an untimely demise of the breadwinner.

Lifestyle Maintenance

Life insurance products can help you build a corpus to protectand maintain your lifestyle against fluctuations in your future income.

Costs of Education

You need to support your child with a sound educational

background, to help your child achieve his/her dreams. Life insurance

products can help you fulfill these needs, whether you are there or

not.

Retirement Expenses

Retirement is an age when an individual has fulfilled almost all

his responsibilities and looks forward to relaxing. Life insurance


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products can help you lead a secure and tension free retired life by

ensuring that you get guaranteed pension.

Mortgage and Debt protection

With increasing consumerism and ever-rising demands, loans

and debts are now part of life. Life insurance products help you

ensure that your family is not unduly burdened with their repayments,

in case of an unfortunate event or an untimely demise of the

breadwinner.

Hardships Protection

Life insurance provides a sense of security to the income

earner and to his/her family. Buying life insurance frees the individual

from various unnecessary financial burdens that can otherwise make

one spend sleepless nights.

Life Insurance V/S Other Investments

Most investment options make your money work harder, but

there are no substitutes to life insurance. Because only a lifeinsurance policy gives you both - risk cover against your life, as

well as returns on your money invested.

Life insurance allows long tem savings to be made in a

relatively painless manner because of the low and convenient

investments made through premiums. Moreover, it encourages

'forced thrift' which means the insured is made to pay premiums

and save money, which he/she may not do in the regularcourse of life.

Should you require loans, say for building a house, it can be

easily obtained against a life insurance policy. Amongst the


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most known benefits of Life Insurance is the savings on your

income taxes.

Life insurance cannot be compared with any other form ofinvestment as life insurance gives you a life long benefit and

returns on your money when it is most required.

Insurance premiums are linked to age of the life insured and the

earlier you buy, the lower are the premium requirements.

Besides, the money stays invested for a longer time and

thereby maximizing your returns through the power of rupee

compounding. So, a life insurance policy is an ideal tool to gainsecurity and ensure savings.

Most importantly it provides you with that unique sense of

security and peace of mind that no other form of investment

provides.

The Life Insurance Sector At A Glance

Overview

Economic growth in the emerging markets has time and again

outpaced the developed and industrialised countries. Alongside the

rising importance of emerging economies, their life insurance sectors

are also drawing more attention. Its been four years since the lifeinsurance sector was opened up for private players in India. The

reasons that prompted the government to bring in reform in this

sector are well known. While the public sector life insurance

companies made enormous contribution in the spread of awareness

about insurance, and expanded the market, it was recognised that


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their reach was still limited, the range of products offered restricted

and the service to the consumer inadequate. It was also felt that the

rapid economic growth witnessed in the 90s couldnt be sustained

without a thriving insurance sector.

Today, the private sector accounts for nearly 20% of the

market. The market share of the private players has to be seen in the

context of this enlarged market. There has been a flurry of private

players providing a wide range of innovative products, services and

customised solutions. Emerging marketssuch as China, India,

Mexico and Russia are home to some 86% of the worlds

population. Collectively, they account for 23% of world economic

output. Yet, insurance business is underdeveloped in these markets.

In fact, India as a country is under-insured. Only 35% of the 250

million insurable population is insured. Exploiting the growth potential

of emerging insurance markets India and China are in the

spotlight. Both the countries currently attract a lot of attention due to

their size, strong growth performance and favourable regulatory

changes. To begin with, India and China are the most populouscountries and both have sustained impressive economic growth in the

last decade. Between 1993 and 2003, annual real GDP growth

averaged 8.9% in China and 5.9% in India. Interestingly, both

markets have gone through a similar period of nationalisation of their

insurance business, although China revoked state monopoly earlier

than India.

As the life insurance sector evolves, we will see a lot of

transparency in products, costs. There will be a lot of value added

services provided by insurers: financial advice, add-on facilities.

There will be a revolution in term of the IT used and the level of

automation. Also, there will be faster query handling and other issues

relating to policy servicing can be made simpler.


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The flux of new products is primarily a response to the

recognition of the latent needs of the consumers. Todays consumer

goes for pure term insurance and plans, which give him insurance-

cum-investment as compared to endowment, and money-back plans.

Financial planning is key to winning a customer today. Whether

capital generation, retirement planning or pension options, private

insurers today make these available with options. As to the prospect

of the emerging insurance market in India, we are cautiously

optimistic. This optimism is mainly based on the countrys economic

growth, which is faster than in industrialised nations, and on its

insurance demand growth, which is tangibly in excess of the

underlying economic development.

Competitive pressures have increased and are reshaping the

Indian insurance landscape, leading to variety in products and

channels. Unit-linked products (Ulips) are surely the way ahead.

Compared with them, traditional policies have more to do with the

long-term financial planning. Traditional policies also offer flexibility in

broad planning.

First, one should cover for the financial liabilities and human lifevalue and then graduate to Ulip and participatory plans. Identifying

that Ulips are the way ahead, we have introduced a unit-linked

retirement income plan, two safe investment plans, an easy growth

plan and a flexi plan.

A key catalyst in the Indian insurance market growth has been

the entry of foreign players. India has allowed foreign joint ventures to

obtain national licenses, although there is still a 26% limit on foreign

stake holding. One of the factors that will influence insurance

business development in India is; how are we going to manage our

high natural catastrophe exposures?. Impending reforms of the

pension systems in India is another key development, which will allow

private insurers to offer products to bridge the pension gap.


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At every stage of life, a different plan may be required to cater

to changing financial needs and liabilities. However, the basic

premise of life insurance is coverage for life. Globally, mortality

protection accounts for roughly 80% of total risk premiums. In most

markets, there has been a trend of unbundling of savings and pureterm products, and term insurance has grown strongly over the past

few years.

In developed markets, like the US, UK and Australia, the term

products are widely sold and the penetration is higher. Following the

world-wide trends, Indian companies are also looking at introducing

innovative products. One such segment that they are in the process

of catering to is smokers and tobacco users. Our company, for

instance, has a preferred term plan for non-smokers and women.

The Banc assurance model is another successful distribution

strategy being adopted by many Indian companies, although variety

of distribution channels exist e.g. the traditional life-agency force,

insurance brokers, worksite marketing, corporate agents as well as a

proprietary sales force. Each channel has its own utility.

The Indian industry is at a nascent stage as far as insurancebrokers are concerned, and with development of the markets,

insurance broking will pay an important role in insurance distribution.

Another move in the life insurance industry has been that of full-

time advisors. The old mutual sales model runs on only full time life

advisors, none of them are working on a part time basis. A large

number of our life advisors are lawyers, advocates, teachers,

accountants, engineers or government employees. We are

witnessing a demographic change in the country, and the younger

generation which is exposed to the outside world, demands products

and services which are at par with what is available in the advanced

countries. This is the biggest challenge.


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Insurance Companies in IndiaIn India, Insurance is a national matter, in which life and general

insurance is yet a booming sector with huge possibilities for different

global companies, as life insurance premiums account to 2.5% andgeneral insurance premiums account to 0.65% of India's GDP. The

Indian Insurance sector has gone through several phases and

changes, especially after 1999, when the Govt. of India opened up

the insurance sector for private companies to solicit insurance,

allowing FDI up to 26%. Since then, the Insurance sector in India is

considered as a flourishing market amongst global insurance

companies. However, the largest life insurance company in India is

still owned by the government.

The history of Insurance in India dates back to 1818, when Oriental

Life Insurance Company was established by Europeans in Kolkata to

cater to their requirements. Nevertheless, there was discrimination

among the life of foreigners and Indians, as higher premiums were

charged from the latter. In 1870, Indians took a sigh of relief when

Bombay Mutual Life Assurance Society, the first Indian insurance

company covered Indian lives at normal rates. Onset of the 20th

century brought a drastic change in the Insurance sector.

In 1912, the Govt. of India passed two acts - the Life Insurance

Companies Act, and the Provident Fund Act - to regulate the

insurance business. National Insurance Company Ltd, founded in

1906, is the oldest existing insurance company in India. Earlier, the

Insurance sector had only two state insurers - Life Insurers i.e. Life

Insurance Corporation of India (LIC), and General Insurers i.e.

General Insurance Corporation of India (GIC). In December 2000,these subsidiaries were de-linked from parent company and were

declared independent insurance companies: Oriental Insurance

Company Limited, New India Assurance Company Limited, National

Insurance Company Limited and United India Insurance Company

Limited.


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Insurance Companies In India

y Bajaj Allianz Life Insurance Company Limited

y Birla Sun Life Insurance Co. Ltdy HDFC Standard life Insurance Co. Ltd

y ICICI Prudential Life Insurance Co. Ltd.

y ING Vysya Life Insurance Company Ltd.

y Life Insurance Corporation of India

y Max New York Life Insurance Co. Ltd

y Met Life India Insurance Company Ltd.

y Kotak Mahindra Old Mutual Life Insurance Limited

y SBI Life Insurance Co. Ltd

y Tata AIG Life Insurance Company Limited

y Reliance Life Insurance Company Limited.

y Aviva Life Insurance Co. India Pvt. Ltd.

y Shriram Life Insurance Co, Ltd.

y Sahara India Life Insurance

y Bharti AXA Life Insurance

y Future Generali Life Insurance

y

IDBI Fortis Life Insurancey Canara HSBC Oriental Bank of Commerce Life Insurance

y Religare Life Insurance

y DLF Pramerica Life Insurance

y Star Union Dai-ichi Life Insurance

y Agriculture Insurance Company of India

y Apollo DKV Insurance

y Cholamandalam MS General Insurance

y HDFC Ergo General Insurance Company

y ICICI Lombard General Insurance

y IFFCO Tokio General Insurance

y National Insurance Company Ltd

y New India Assurance

y Oriental Insurance Company

y Reliance General Insurance


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y Royal Sundaram Alliance Insurance

y Shriram General Insurance Company Limited

y Tata AIG General Insurance

y United India Insurance

y Universal Sompo General Insurance Co. Ltd

Corporate Profile of BHARTI AXA

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, we 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.

As we further expand our presence across the country with a large

network of distributors, we continue to provide innovative product and

service offerings to cater to specific insurance and wealth

management needs of customers. 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 tobecome 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.


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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.

The guiding Human Resources principles at Bharti AXAare:

y Clearly define scope of responsibilities and empower people to

deliver

y Provide people with the means to develop their competencies

y Consider individual training and development a priority

investment

y

Build organizations that are conducive to teamwork and thatinvolve everyone

y Promote ongoing dialogue between managers and the people

who report to them

y Make cultural difference a key source of strength

Vision

To be a leader and the preferred company for financial protection andwealth management in India

Values

y Professionalism

y Innovation

y Team Spirit

y Pragmatism

y Integrity

Strategy


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y To achieve a top 5 market position in India through a multi-

distribution, multi-product platform

y To adapt AXA's best practice blueprints as a sound platform for

profitable growth

y To leverage Bharti's local knowledge, infrastructure andcustomer base

y To deliver high levels of shareholder return

y To build long term value with our business partners by

enhancing the proposition to their customers

y To be the employer of choice to attract and retain the best

talent in India

y To be recognised as being close and qualified by our

customers

Strategic differentiators

y Strong partner Bharti - provides access to customer base of

more than 20 million

y Multi channel execution capability

y Current Asia product range which is a strong match to products

sold to the mass and mass affluenty Global scale providing cost effective and speedy re-use of

systems, products and business capability

Bharti AXA Life Bright Stars

A Unit Linked Child product.

Bharti AXA Life Bright Stars provides a launch pad for your childs

bright future. What else, You also have Jumpstart benefit which is

paid out at maturity along with Policy Fund Value, which enables your

child to explore more career options.


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Bharti AXA Life Bright Stars provides a launch pad for your childs

bright future. What else, You also have Jumpstart benefit which is

paid out at maturity along with Policy Fund Value, which enables your

child to explore more career options.

Key Benefits:

y Get 360` protection in securing your childs future.

o Payment of sum assured immediately on death;

o Payment of future premiums by the company till maturity;

o Get Policy Fund Value along with Jumpstart benefit at

maturity.

y A Jumpstart benefit to boost your maturity proceeds.

y A flexible Policy which adjusts to your financial needs by giving

you various options like top ups, choice of investment funds,

switch, withdrawals, cover continuance option, decrease in

premium and more.

y Choice of 5 policy terms to match your financial goals.

y Get tax benefits on the premiums paid and benefits received as

per the prevailing tax laws.


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Bharti AXA Life WealthConfident

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?

Your wealth, your status ensures that you get preferential status

wherever you go. So why shouldn't your money get the same?

WealthConfident, a unit-linked investment cum protection product,

with its limited period premium payment facility of 5 years, premium

payment flexibility, higher allocation of your premium for investment,

unique special additions and life insurance benefit, not only makes

your money grow but also provides your investment the special

treatment that it deserves.

"Be confident ofproviding your investments the right mix of growth,

flexibility and loyalty benefits. Live confident with WealthConfident."

Key Benefits:

y Pay premium for five years, while your policy continues for ten

years.


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y Higher allocation of your premium up to 88% for investment.

y Special additions of units added every year from 6th Year for

incremental wealth creation.

y Choose from four different investment funds to meet your

financial objectives.y Five times the life cover of your annual premium.

y Tax benefit under 80C and 10(10D).

Why should you buy this plan?

WealthConfident is a suitable product for you, if your key objective is

to potentially maximize your wealth to fulfill your future financialobjectives such as child's higher education, building a retirement kitty,

asset creation, etc.

The limited premium payment term of 5 years for a 10 year policy,

also suits your requirements of premium payment flexibility.

Being a unit-linked plan, it also suits your requirement of earning

potentially higher returns by assuming the appropriate risks.


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About Bharti Foundation

As a first step towards fulfilling the vision of the Government and the leadership of

country, Bharti has kick-started its voluntary and affirmative action in making signific

contribution to provide education to the weaker sections of the society, so as to m

them employable. We need to ensure that our children and young people have acc

to quality education. Through Bharti Foundation we are determined to make

substantial impact in this area.

Mr. Sunil Bharti Mittal, Founder, Chairman & Group CEO, Bharti Enterprises

As a responsible corporate citizen, we have decided to substantially scale up

existing programs in the area of education, in order to support the aspirations of undprivileged in the country.

Mr. Rakesh Bharti Mittal, Vice Chairman, Bharti Enterprises while unveiling Bh

Foundations roadmap ahead

Bharti Foundation was set up in the year 2000 with the vision, To h

underprivileged children and young people of our country realize their potent

In order to realize this vision, we have been creating and supporting programs that b

about sustainable changes, predominantly in the field of education.

We have adopted a two-pronged strategy to impact the quality of education in scho

On one hand, we are adopting government schools, in order to create a positive imp

on the quality of education being delivered to underprivileged children. On the ot

hand, we are in the process of setting up pre-primary, primary and se

secondary level schools under our Satya Bharti School Program. This prog

launched in 2006, supports our search for excellence and sets benchmarks for qua

education.

Under the Satya Bharti Schools program, we aim, to set up 500 pre-primary and prim

schools and 50 senior secondary schools in public-private partensrhip model which

deliver high quality education to underprivileged children in the deepest rural pocket

the country. By setting up a chain of Satya Bharti Schools across the country, we

not only learn to operate at scale, in diverse cultures and languages but also deal w


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Key Milestones


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2008

y Bharti Foundation was awarded the Asian CSR Award for Support

Improvement in Education for the year 2008 ( November 21, 2008).

y Bharti Foundation was awarded the Social and Corporate Governance AwardBest Corporate Social Responsibility Practice (CSR) for the year 2008 ( Febru

5, 2009).

y Bharti Foundation was awarded the Indian NGO Award ( Joint Regional Winn

North) for the year 2008 ( March 30, 2009).

2007

School Improvement Program (SIP) formally launched with the signing o

Memorandum of Understanding (MoU) between Bharti Foundation and s

Government of Rajasthan to adopt

50 government schools in Rajasthan. (August 23, 2007)

Bharti Foundation was awarded the Golden Peacock Award for Corporate So

Responsibility (CSR) for the year 2006 in the NGO category. (January 12, 2007

2006

The first Satya Bharti School started with 55 children in Ladhowal village

Punjab. ( August 7, 2006)

Bharti Scholarship Scheme re-launched to provide financial assistance to stude

on a merit-cum-means basis to facilitate higher education. ( July 2006)

Satya Bharti School program launched with an aim to establish 1000 village-ba

primary schools across the country for poor and underprivileged children. ( Ma2006)

The Promoters of Bharti Enterprises and their Associates committed an in

endowment of Rs 200 Crores to Bharti Foundation to support its work. ( Ma

2006)


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A Governing Board comprising of several prominent personalities formed to gu

the programs of Bharti Foundation. ( May 2, 2006)

Honble Prime Minister of India, Dr. Manmohan Singh, formally inaugurated

campus of Bharti School of Telecommunication Technology and ManagemenIIT, Delhi (March 20, 2006).

2005

CII-Bharti Woman Exemplar Award instituted with an aim to promote wome

empowerment at the grassroots level. ( May 3, 2005)

Bharti Library Centres program initiated in rural and semi-urban areas with an

to instill reading habits in underprivileged children. ( March 29, 2005)

Support given to the Fellowship Program in IIM, Lucknow to develop compe

managers and conduct research and training initiatives. ( January 11, 2005)

2004

Bharti Computer Centres introduced across schools to enhance and stimu

childrens interest in education and bridge the digital divide. ( November 1, 2004

Going to School book launched with the actress, Sushmita Sen as the CGuest. ( January 31, 2004)

2003

State-of-the-art kitchen facility set up in Vrindavan with Akshay Patra Founda

to provide mid-day meals to students from underprivileged backgrounds, study

in the local government schools. ( August 2003)

2002

Bharti Centre for Entrepreneurial Initiatives (BCEI) established in partnership w

Entrepreneurship Development Institute of India (EDI) to promote entrepreneu


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skills among youth. ( June 28, 2002)

2001

The project Going to School was launched to bring alive the reality of vari

education initiatives and schools in India. ( October 15, 2001)

Agreement concluded with IIT Delhi to set up Bharti Schoo

Telecommunications, Technology and Management with an objective to deve

telecom leaders at the campus of IIT, Delhi.

Bharti Foundation launched to give shape and scale to the philanthropic activ

of the Bharti group of companies. (August 7, 2000)


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Golden Peacock Award for Corporate Social

Responsibility

Bharti Foundation was awarded the prestigious

Golden Peacock Award for Corporate Social

Responsibility (CSR) for the year 2006 in the NGO

category. The winner for the award was chosen by

an eminent jury panel chaired by Justice P. N.

Bhagwati, former Chief Justice of India and Member,

United Nations Human Rights Commission.

The Golden Peacock award has been instituted to

encourage Corporate Social Responsibility initiatives

by the Centre for Social Responsibility supported by

the Institute of Directors (IOD), Centre for Corporate

Governance (CFCG) and the World Council for

Corporate Governance (WCFCG), UK.

The award recognizes the initiatives undertaken by

Bharti Foundation, primarily in the area of education.

The Satya Bharti School program which provides

quality primary education to underprivileged

children; Bharti Computer Centres (BCC) and Bharti

Library & Activity Centres (BLAC) programs to

improve the learning levels of children; Bharti

Scholarships for higher education and Bharti School

of Telecommunication Technology and Management


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at IIT-Delhi to develop young Telecom Leaders were

some of the initiatives considered by the eminent

ury.


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Life in bharti axa

45 days in bharti axa have tought us a lot. It had given me an opportunity to learn abcorporate world and an overall exposure of a firm.

We were given training in all the fields of business like marketing, finance and HR.

SALES & MARKETING

I was being given a target to sale minimum of two policies for that we were being gi

a proper training which really helped me to achieve my targets successfully. We w

aupposed to sale one product bright star plus.

Doing sales was really fun and challenging.i really enjoyed it. It gave me the opportu

to come in contact wid new people. During this I learn various things like how

convince people and how to contact them. I think marketing is more an art tha

qualification.


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Other activitiesPresentations :

We gave presentation on our marketing plan. It was a great experience which g

us platform to present ourself in corporate level.

GROUP DISSCUSSION :

Group discussion was conducted on world wide burning topics

europion crisisand oil market. one topic was scheduled for 1 a

half hr.

It was really appreciating and knowledgeable.

Thus I can say these things were really help full to me in know

the various fileds and expects of business and a firm.

ANALYTICAL TOOL :

I was being the task to make an analytical tool on wealth confident

Marketing Strategy in excel :

Even we represented our marketing plan in excel sheet.


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FUNThe most memorable moment in bharti axa was the outing conducted. It was a wh

day outing we did lots of fun. But here also I learn various things. I think it actu

taught us about how to behave in a social gathering or meeting out side your w

place. It helped us to learn because we going to be a responsible manager in the fut

and these things definitely goin to happen in the future. But I m really thankfull to bh

axa to give me such an opportunity.


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Last but not the least bharti axa has given us lot of things which I always will cherisam sure this only going to help me through out my life. Though it was my first busin

or corporate exposer I am sure It was beyond my expectations.


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Documents

report on bharti axa