subrat project on procurement and development

8/9/2019 subrat project on procurement and development

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KOUSTUV BUSINESS SCHOOL,

BHUBANESWAR

A Project

On

Procurement and Development of Lifeadvisors

At

Bharti AXA Life insurance,

Bhubaneswar

SUBMITTED BY

SUBRAT KUMAR BEHERA

ROLL NO-08/0R/KBS/PGDM/FT/023

UNDER THE GUIDANCE OF

Prof .Shelly Mohanty (HR)

sushant kumar mishra(HR)


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KBS, BHUBANESWAR KBS,

BHUBANESWAR

Table ContentsTable Contents ............................................................................................................................... 2

EXECUTIVE SUMMARY ................................................................................................................... 11

CHAPTER 1- .................................................................................................................................. 13

INTRODUCTION TO PROJECT ...................................................................................................... 13

PURPOSE OF THE PROJECT ...................................................................................................... 13

SIGNIFICANCE AND IMPORTANCE OF THE PROJECT ................................................................ 14

OBJECTIVES OF THE PROJECT .................................................................................................. 14

SCOPE OF THE PROJECT .......................................................................................................... 15

REVIEW OF LITERATURE ............................................................................................................. 15

THEORY ON RECRUITMENT & TRAINING ................................................................................. 15

Types of T & D ........................................................................................................................... 19

LIMITATIONS OF THE PROJECT ................................................................................................ 25

INSURANCE INDUSTRY ............................................................................................................ 26

BRIEF HISTORY OF THE INSURANCE SECTOR IN INDIA ............................................................ 27

THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (IRDA) ................................. 29

CHAPTER 2- ................................................................................................................................... 32

PROFILE OF ORGANIZATION ....................................................................................................... 32

THE JOINT VENTURE BHARTI AND AXA .................................................................................. 33

GROUP SITES .......................................................................................................................... 34

Vision Value & Strategy of Bharti AXA Llife Insurance Ltd...................................................... 34

HR PRACTICES ......................................................................................................................... 35

MANAGEMENT PROFILE ........................................................................................................... 37

Priya Ranjan ............................................................................................................................... 40

Insurance Products of Bharti AXA ........................................................................................... 40

CHAPTER 3- ................................................................................................................................... 41

REASEARCH METHDOLOGY ........................................................................................................ 41

RESEARCH DESIGN .................................................................................................................... 42

THE RECRUITMENT PROCESS FLOWCHART:- ........................................................................... 44


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Identifying vacancy and advertising it: the following changes in the scenario led to the

increasing vacancy for life advisors in Bharti AXA BHUBANESWAR........................................... 45

Expansion of business as well as market................................................................................... 45

Growing competition.................................................................................................................. 45

Change in demographics........................................................................................................... 45

After the identification of vacancy pamphlets containing the details were prepared and were

distributed. The pamphlets used by us have been provided as Appendices..............................46Preparing job description and person specification: ................................................................... 46

Career Bandwidth as a Life advisor at Bharti AXA: ..................................................................... 46

As a Life Advisor at Bharti AXA, there is only one way to grow. And thats by meeting and

exceeding your targets. ............................................................................................................ 46

As a good performer, you stand to get promoted from Bronze to Diamond Club and enjoy

special remuneration benefits. .................................................................................................. 46

As a Life Advisor, you can get appointed as an Agency Manager within a span of just 9 months

to 1 year. .................................................................................................................................. 46

As a Life Advisor, you also get to participate in various business related projects and

committees. .............................................................................................................................. 46

Compensation ............................................................................................................................ 46

As a Life Advisor, you have the opportunity to create attractive earnings for the first year and

for the long term through payouts. ........................................................................................... 46

Higher the business you generate in the first year, higher the income you stand to earn year

after year. ................................................................................................................................. 46

Get rewarded through Best in Class Rewards and Recognition programs including overseas

conventions................................................................................................................................ 46

Support ..................................................................................................................................... 46

All Bharti AXA branches have HR services for support on all matters related to compensation

and career so you can redress your concerns immediately. ..................................................... 46

State-of-the-art Distribution Training support. .......................................................................... 46

Comprehensive marketing support in terms of brochures, illustrations etc. .............................46

Sales Management Support for on the job training and business closure.................................. 47

Infrastructure & Technology support through dedicated Life Advisors bay equipped with

telephones, computers and internet at Bharti AXA premises. ................................................... 47

Customer Service and operations support. ............................................................................... 47

The details about the rewards and recognition are given in Appendices................................... 47

Short Listing on the basis of Q scores: ....................................................................................... 47

The five Qs- The Qs are 5 different criteria where the candidates are to be analyzed. These

criteria can be defined as given below....................................................................................... 47

Q1- On the basis of Tenure of stay in City/Town: ...................................................................... 47

Less then 3 years => Q score = 0 ............................................................................................. 47


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So, the candidate should have been a resident of BHUBANESWAR for at least five years. .....47

Q2- On the basis of Marital Status: ............................................................................................ 47

If unmarried => Q score = 1 ..................................................................................................... 47

He/ She should be married........................................................................................................ 47

Q3- On the basis of Household Income: .................................................................................... 47

His/ Her annual income should be at least 2 to 5 Lakhs............................................................. 47

Q4- On the basis of Education: ................................................................................................... 47

He/ She should be a graduate................................................................................................... 47

Q5- On the basis of Age: ........................................................................................................... 47

Minimum age to be eligible for being a life advisor is 25........................................................... 48

The significance of Qs ................................................................................................................ 48

A high Q score implies possibility of better performance by the candidate as a life advisor

(meaning better revenue generation ability). On an average only a candidate with a score of

Q5 or Q6 was interviewed.......................................................................................................... 48

A low Q score implies lesser possibility of such performance.................................................... 48

Conduction of interview: ........................................................................................................... 48

Pre- interview: Preparation of recruitment /selection document for Advertising. ......................48

Preparing advertisement ........................................................................................................... 48

Media selection .......................................................................................................................... 48

Positioning ................................................................................................................................ 48

Response handling .................................................................................................................... 48

Initial interview online or telephone .......................................................................................... 48

Short-listing for interviews ........................................................................................................ 48

Interview arrangement ............................................................................................................. 48

Sending emails or calling short listed candidates ...................................................................... 48

Interview details to the short listed candidates ........................................................................ 48

During Interview ........................................................................................................................ 48

HR interview .............................................................................................................................. 48

Technical interview ................................................................................................................... 49

Conducting tests [Aptitude / Mathematical / Analytical etc.] .................................................... 49

Initial final list of candidates ...................................................................................................... 49

Reference check (if required) ..................................................................................................... 49

Post interview ............................................................................................................................ 49

Email or Telephone call to unsuccessful candidates.................................................................. 49

Technical Manager approval for a startup date. ....................................................................... 49

Email or Telephone call to successful candidates...................................................................... 49

HRM prepares a letter of appointment....................................................................................... 49


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Selection Process ....................................................................................................................... 49

Starts with the preliminary interview......................................................................................... 49

Ends with contract of employment............................................................................................ 49

Different process for different organization............................................................................... 49

Different process for different job in same organization............................................................ 49

Selection easy for shop floor workers........................................................................................ 49

Selection of managers are crucial............................................................................................. 49

Affected by internal & external environment............................................................................. 49

Mutual decision making............................................................................................................. 49

Filling up of compulsory IRDA form: a NAAF (New advisor application form) is to be filled up by

the candidate. Provided as Appendices..................................................................................... 49

Scheduling of the training: guidelines as per provisions of IRDA Act for training of life advisors

(effective from 31st October 2004). .......................................................................................... 49

The applicant shall have to undergo at least 100 hours practical training in life or general

insurance business which may be spread over three to four weeks, where such applicant isseeking license for the first time to act as an insurance agent. ................................................ 49

The training duration should be minimum 18 working days excluding Sundays and holidays. ..50

No product training/market survey should be included into this hundred 100 hours training.

The product training, if any, to be given by the insurance company should be over and above

the minimum training hours prescribed by the Authority ......................................................... 50

The attendance record of the trainees should be maintained at the Institute for necessary

inspection at any given point of time......................................................................................... 50

In case of short-fall of attendance, extra class may be permitted but the extra hours may be

specified separately with proper attendance and details of faculty. ........................................50Every Institute should have at least one qualified permanent faculty who is an Associate or

Fellow from the Insurance Institute of India for each stream i.e. for Life and Non-Life. ...........50

The attendance register of the faculty members should be maintained at the training institutes

................................................................................................................................................... 50

The record of the payment made to faculty should be maintained at the training institute i.e.

batch-wise payment detail should be maintained. ................................................................... 50

The faculty should provide details of the other Institutes with whom they have been

empanelled as part-time/guest faculty. ................................................................................... 50

Register should be maintained at the training institute giving details of batches completed,strength of the each batch, number of candidates decertified, name of the sponsored insurer

and details of faculty who imparted the training with dates. ................................................... 50

The seating capacity of each class-room should not exceed 40................................................ 50

The fresh accreditation will be given on need basis after assessing the needs of the particular

city/town. ................................................................................................................................. 50

The initial approval will be for a period of 3 years and consideration of further renewal up to 3

years would depend on the satisfactory compliance of requirements of accreditation.............51


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The insurance companies would regularly send their officials to oversee the proper conduct of

the training at the institutes and would not sponsor candidates to those institutes that are not

maintaining the required standards of and facilities for the training. ...................................... 51

The training institute must display the certificate of accreditation to impart training issued by

the Authority at the training institute........................................................................................ 51

The Institute should not allow a franchisee to conduct courses on its behalf even if the faculty

is that of the Institute. The Institute should conduct the training on its own premises or hired

premises with proper infrastructure........................................................................................... 51

No marketing fee/consultancy fee payment is permitted for getting the training batches........51

It will be the responsibility of the Insurance Company to check the status of the institute before

sponsoring any candidates for training...................................................................................... 51

In case of rural areas or the cities where there are no accredited institutes and an insurance

company intends to appoint agents, it will be the responsibility of the insurance company to

conduct training......................................................................................................................... 51

The Institutes must keep with them one set of records of the training at the place where the

training is being imparted.......................................................................................................... 51

The Institute should confine its activities only to the place/city for which it has been given the

approval. No training outside the said place/city is permitted.................................................. 51

The Institutes must submit a copy of the lease deed/rent agreement at the time of seeking

fresh accreditation/renewal/change of address of the institute................................................. 51

On successful completion of training the candidates get COT i.e. the Completion of Training

Certificate by Bharti AXA............................................................................................................ 52

CHAPTER 4 .................................................................................................................................... 55

Data Presentation, Analysis & Interpretation ............................................................................. 55

CHAPTER 5 .................................................................................................................................... 62FINDINGS ................................................................................................................................... 62

SUGGESTIONS ............................................................................................................................ 63

CONCLUSION .............................................................................................................................. 64

BIBLIOGRAPHY .............................................................................................................................. 65

Websites: ................................................................................................................................... 65

Books ......................................................................................................................................... 65

APPENDIX ..................................................................................................................................... 67

SURVEY QUESTIONNAIRE ................................................................................................... 67

INITIAL SCREENING FORM ....................................................................................................... 68

Broad syllabus for pre- recruitment exam for life insurance agent: ........................................69

Figure 1 : Sources of recruitment.................................................................................................17

Figure 2 : Recruitment Process Flowchart.....................................................................................45

Figure 3 : Age Respondent............................................................................................................55

Figure 4: Sex Respondent.............................................................................................................56


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Figure 5: Occupation.....................................................................................................................57

Figure 6: Tenure Of stay in BBSR..................................................................................................57

Figure 7: Material Status...............................................................................................................58

Figure 8 : Future Concern..............................................................................................................58

Figure 9 : Future Liabilities............................................................................................................59

Figure 10 : Interest to earn extra money......................................................................................59

Figure 11: Over all view of Selection Of life advisor......................................................................60

Figure 12:Findings.........................................................................................................................63

INTERNAL GUIDE

CERTIFICATE

This is certify that Mr. Subrat Kumar Behera Bearing the

college Roll no-

08/OR/KBS/PGDM/FT/023 a bonafide Student of Koustuv

business school

has executed his all the work Related to this SUMMER

INTERSHIP

PROGRAMME entitled Procurement and Development

of Life advisors


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at bharti axa life insurance at Bhubaneswar

complete fairly, originally

by hard working.

I wish all the success and prosperity in

his life for future

hoping the same will continue.

Prof.

Shelly mohanty (HR)

Faculty member,

Ko

ustuv business school,

Bhubaneswar

DECLARATION

I Mr. SUBRAT KUMAR BEHERA pursuing post graduate

diploma in


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Management (08-10) from Koustuv Business School under

Koustuv group of

nstitute bearing the college roll no-

08/OR/KBS/PGDM/FT/023.

Undertaking the summer internship Programme entitled

Procurement

and Development of Life advisors at bharti axa life

insurance at

Bhubaneswar is the original work of researcher never

been submitted to

any where else or for any other purpose.

I declared that all the information given

above is true to

the best of my knowledge of belief.

Signatureof the researcher

Date:-

Place:-


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ACKNOWLEDGEMENT

Sometimes words fall short to show gratitude, the same happened

with me during this project. The immense help and support

received from BHARTI AXA life insurance Company limitedoverwhelmed me during the project.

It was a great opportunity for me to work with BHARTI AXA,

pioneers in the field of insurance. I am extremely grateful to the

entire team ofBHARTI AXA at Bhubaneswarwho have shared

their expertise and knowledge with me and without whom the

completion of this project would have been virtually impossible.

I am highly indebted to my corporate guide Mr. Soumendra

Rout (Agency Development Manager) & Mr. Nrusingha

Prasad Nanda (branch sales manager), who have provided me

the necessary information and his valuable suggestion and a good

support in understanding the basics of the BHARTI AXA LIC ltd.

easily.

I am also greatly thankful to my guide prof.SHELLYMOHANTY in HR,KBS Bhubaneswar for her coordination and

cooperation.

I am also greatly thankful to Mr. SUSHANT

MISHRA (HR) for guiding me throughout the project.

Lastly, I would express my grateful thanks to my family

members and my friends who inspired me to put in my best efforts

for the preparation of the project report.

Subra

t Kumar behera


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Regd no:-

08/OR/KBS/PGDM/FT/023

HR

Department

KoustuvBusiness School, BBSR

ORISSA

EXECUTIVE SUMMARYThe project is about procurement and development of Life

advisors. The process started from identifying the need, then

advertising the same to prospective individuals by distribution of

pamphlets, holding various activities in residential areas etc. then

individuals were surveyed. The questionnaire was designed in

such a manner that it gave a general idea about the ability and

capability of respondent as a prospective life insurance advisor.

Certain scores were allotted depending on the answers given by

the respondent. Those who were high on the scores were

motivated to visit the office for conduction of their interview. After

the successful completion of interview individuals were informed if

they were selected for training of Life advisors. They were asked

to fill the NAAF form and a fee was collected from them along with

their photographs. After successful completion of training an exam

was conducted and those who qualified the exam were selected as

life advisors.

The project report submitted here covers theory on procurement

and development, flowchart of activities undertaken for

procurement and development, data analysis of the survey and a


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list of suggestions and recommendations for the company at the

end of the entire study.

During the process of summer project we conducted activities in

malls like BIG BAZAR, PANTALOONS of Bhubaneswar. We havealso we conducted activities in different residential areas like

Acharya Vihar, VSS Nagar. The samples of the pamphlets that

were distributed for such activities have been given in the

Appendices.

CHAPTER 1CHAPTER 1

INTRODUCTION TO THEINTRODUCTION TO THE

PROJECTPROJECT

&&


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REVIEW OF LITERATUREREVIEW OF LITERATURE

CHAPTER 1-

INTRODUCTION TO PROJECT

PURPOSE OF THE PROJECTThe purpose of the company project study was to:

Get hands on experience of recruitment in Insurance sector.

Understand the external recruitment process of Life advisors.

Applying theoretical knowledge to the recruitment practices at Bharti AXA.


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SIGNIFICANCE AND IMPORTANCE OF THE PROJECTIn the last few years, the job market has undergone some fundamental

changes in terms of technologies, sources of recruitment, competition in the

market etc. In an already saturated job market, where the practices like

poaching and raiding are gaining momentum, HR professionals are

constantly facing new challenges in one of their most important function-

recruitment. They have to face and conquer various challenges to find the

best candidates for their organizations.

The project focuses on the challenges facing the HR department in the

growing insurance industry in India. Problems caused by the lack of skilled

personnel and the increasing demand for skilled employees are also

discussed in the project.

In addition, challenges regarding the recruitment and retention of

employees are examined. The project throws light on various measures

taken by HR departments in insurance organizations to improve the work

environment and the productivity of employees.

OBJECTIVES OF THE PROJECTIn the project the main objective is to find out the various ways through

which in the company the Life advisor are being recruited and the details

analysis of the training and development program through which the life

advisor goes through. We can define the objective as SMART objectivewhich means: -

S- Specific

M- Measurable

A- Achievable

R- Relevant


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T- Time bound

SCOPE OF THE PROJECTThe project involved recruiting life advisors for Bharti AXA Life insurance in

BHUBANESWAR region. The task was taken up by an11 member team and

the entire process of recruitment was divided into sub- tasks. To further it,

the project also involved arranging for preliminary training of Life advisors.

The process of recruiting and training Life advisors can be broken into the

following steps:

Identifying individuals who are willing to solicit insurance business as a life advisor of

the company.

Assisting in scheduling the training and examination of the life advisors.

Assisting and coordinating with Agency Development Manager of the company for

licensing and coding of Life Advisors.

REVIEW OF LITERATURE

THEORY ON RECRUITMENT & TRAININGThe Recruitment Process: Recruitment refers to the process ofsourcing, screening, and selecting people for a job or vacancy within an

organization. Though individuals can undertake individual components of

the recruitment process, mid- and large-size organizations generally retain

professional recruiters. These are the main stages in recruitment.

Sourcing:


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Sourcing involves

1) Advertising a common part of the recruiting process, often encompassing

multiple media, such as the Internet, general newspapers, job ad

newspapers, professional publications, window advertisements, job centers,

and campus graduate recruitment programs; and

2) Recruiting research, which is the proactive identification of relevanttalent who may not respond to job postings and other recruitment

advertising methods done in #1. This initial research for so-called passive

prospects, also called name-generation, results in a list of prospects who

can then be contacted to solicit interest, obtain a resume/CV, and be

screened (see below).

Screening & selection:

Suitability for a job is typically assessed by looking for skills, e.g.

communication, typing, and computer skills. Qualifications may be shown

through rsums, job applications, interviews, educational or professional

experience, the testimony of references, or in-house testing, such as for

software knowledge, typing skills, numeracy, and literacy, through

psychological tests or employment testing.

In some countries, employers are legally mandated to provide equal

opportunity in hiring.

On boarding

A well-planned introduction helps new employees become fully operational

quickly and is often integrated with the recruitment process.


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Figure 1 : Sources of recruitment

The major challenges faced by the HR in recruitment

are:

Sources of


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Adaptability to globalization The HR professionals are expected and

required to keep in tune with the changing times, i.e. the changes taking place

across the globe. HR should maintain the timeliness of the process.

Lack of motivation Recruitment is considered to be a thankless job. Even if

the organization is achieving results, HR department or professionals are not

thanked for recruiting the right employees and performers.

Process analysis The immediacy and speed of the recruitment process are

the main concerns of the HR in recruitment. The process should be flexible,

adaptive and responsive to the immediate requirements. The recruitment

process should also be cost effective.

Strategic prioritization The emerging new systems are both an opportunity

as well as a challenge for the HR professionals. Therefore, reviewing staffing

needs and prioritizing the tasks to meet the changes in the market has become

a challenge for the recruitment professionals.


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Training and development:In organizational development,the related field oftraining and development (T & D) deals

with the design and delivery of learning to improve performance,

skills, or knowledge within organizations.

In some organizations the term Learning and Developmentis used

instead of Training and Development in order to emphasise the

importance of learning for the individual and the organization. In

other organizations, the term Human Resource Developmentis

used.

Types of T & D

1. Coaching

2. Continuing Professional Development or CPD

3. E-learning aka Online Learning, Distance Learning, Web-Based Learning

4. Executive education

5. Executive development

6. Leadership development

7. Instructional Animation

8. Instructional Design

9. Instructional Strategies

10. Knowledge Management

11. Organizational Learning

12. Organizational knowledge

13. Mentoring

14. Teaching Method


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15. Blended learning

16. Outbound Management Development Programmes

17. Performance Management

The various forms of Training and development are explained

below.

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

the aim to achieve some goal or develop specific skills. There are many ways to coach, types

of coaching and methods to coaching. Direction may include motivational speaking

Training may include seminars, workshops, and supervised practice.

2. Continuing Professional Development (CPD) or Continuing Professional Education

(CPE) is the means by which members of professional associations maintain, improve and

broaden their knowledge and skills and develop the personal qualities required in their

professional lives.CPD is defined as the holistic commitment to structured skills

enhancement and personal or professional competence.

3. Electronic learning (ore-Learning oreLearning) is a type of education where the medium

of instruction is computer technology. No in-person interaction may take place in some

instances. E-learning is used interchangeably in a wide variety of contexts. In companies, it

refers to the strategies that use the company network to deliver training courses to

employees. In the USA, it is defined as a planned teaching/learning experience that uses a

wide spectrum of technologies, mainly Internet or computer-based, to reach learners at a

distance. Lately in most Universities, e-learning is used to define a specific mode to attend a

course or programmes of study where the students rarely, if ever, attend face-to-face for on-

campus access to educational facilities, because they study online.


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

aim to give classes for Chief Executives and other top managers or entrepreneurs. These

programs do not usually end in a degree, although there is an ever-growing number ofan

Executive MBA program that are very similar and offer a Masters of BusinessAdministration upon completion of the coursework.

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

competencies of those that (will) have executive positions in organizations. While

"executive" and "manager" and "leader" are often used interchangeably, "executive" is

commonly used to signify the top 5% to 10% of the organization. Similarly, "development"and "training" and "education" are often used as synonyms, however "development" is

generally seen as the more encompassing of the three in terms of activities that build skills

and competencies.

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

quality of leadership within an individual or organization. These activities have ranged from

MBA style programs offered at university business schools to high-ropes courses and

executive retreats.

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

immediate performance of a task or to support more permanent learning of subject matter

While both of these uses can be described as instructional animations, when the goal is to

support learning, the term educational animation may be preferred.

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

content to help learners and teachers transfer knowledge most effectively. The process


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consists broadly of determining the current state of learner understanding, defining the end

goal of instruction, and creating some media-based "intervention" to assist in the transition.

Ideally the process is informed by pedagogically tested theories of learning and may take

place in student-only, teacher-led or community-based settings. The outcome of thi

instruction may be directly observable and scientifically measured or completely hidden and

assumed.

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

identify, create, represent, distribute and enable adoption of what it knows, and how it knows

it. It has been an established discipline since 1995 with a body of university courses and both

professional and academic journals dedicated to it. Many large companies have resources

dedicated to Knowledge Management, often as a part of 'Information Technology', 'Human

Resource Management' or Business strategy departments. Knowledge Management is a

multi-billion dollar world-wide market.

10. Organizational learning is an area of knowledge within organizational theory that studies

models and theories about the way an organization learns and adapts. In Organizational

development (OD), learning is a characteristic of an adaptive organization, i.e., an

organization that is able to sense changes in signals from its environment (both internal and

external) and adapt accordingly. OD specialists endeavor to assist their clients to learn from

experience and incorporate the learning as feedback into the planning process.

11. Organizational knowledge: What is the nature of knowledge created, traded andused in organizations? Some of this knowledge can be termed technical knowing the

meaning of technical words and phrases, being able to read and make sense of economic

data and being able to act on the basis of law-like generalizations. Scientific knowledge is

propositional; it takes the form of causal generalizations whenever A, then B. For

example, whenever water reaches the temperature of 100 degrees, it boils; whenever it boils,


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it turns into steam; steam generates pressure when in an enclosed space; pressure drives

engines. And so forth.

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

a less experienced partner referred to as a protg, mentoree, or (person) being mentored

a person guided and protected by a more prominent person.

13. Teaching methods are best articulated by answering the questions, "What is the purpose of

education?" and "What are the best ways of achieving these purposes?". For much of

prehistory, educational methods were largely informal, and consisted of children imitating or

modelling their behavior on that of their elders, learning through observation and play. In

this sense the children are the students, and the elder is the teacher. A teacher creates the

course materials to be taught and then enforces it.

1. Blended Learning is the combination of multiple approaches to learning. Blended learning

can be accomplished through the use of 'blended' virtual and physical resources. A typical

example of this would be a combination of technology-based materials and face-to-face

sessions used together to deliver instruction. In the strictest sense, blended learning is when

an instructor combines two methods of delivery of instruction. However, this term mostoften applies to the use of technology on instruction. A good example of blended learning

would be to give a well-structured introductory lesson in the classroom, and then to provide

follow-up materials online.

2. Outbound Management Development Programmes are a training method for

enhancing organizational performance through experiential learning. These programmes

generally revolve around activities designed to improve leadership, communication skills,

planning, change management, delegation, teamwork, and motivation. Participants are

divided into teams and assigned tasks or activities for completion in a specified time

Achievement and performance during these activities is reviewed in group discussions to

identify behaviors that enhance performance or lead to failure or decreased performance.


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3. Performance measurement is the process of assessing progress toward achieving

predetermined goals. Performance management is building on that process, adding the

relevant communication and action on the progress achieved against these predetermined

goals.

In network performance management

(a) A set of functions that evaluate and report the behavior of

telecommunications equipment and the effectiveness of the network or

network element and

(b) A set of various sub-functions, such as gathering statistical

information, maintaining and examining historical logs, determining

system performance under natural and artificial conditions, and altering

system modes of operation.

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

vs. Desired Results. Any discrepancy, where Actual is less than Desired, could constitute

the performance improvement zone. Performance management and improvement can bethought of as a cycle:

1. Performance planning: where goals and objectives are established

2. Performance coaching: where a manager intervenes to give feedback and adjust

performance

3. Performance appraisal: where individual performance is formally documented and

feedback delivered

A performance problem is any gap between Desired Results and Actual

Results. Performance improvement is any effort targeted at closing the

gap between Actual Results and Desired Results.


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LIMITATIONS OF THE PROJECTFollowing are some reasons that de-motivate and demoralize people from

becoming Life advisors. I came across the following obstacles that arose in

the process of recruitment:

Lack of awareness among the people This is the biggest limitation

found in this sector. Most of the people are not aware about the importanceand the necessity of the insurance in their life. They are not aware how

useful life insurance can be for their family members if something happens

to them.

Perception of the people towards Insurance sector People still

consider insurance just as a Tax saving device. So today also there is always

a rush to buy an Insurance Policy only at the end of the financial year like

January, February and March making the other 9 months dry for this

business.

Insurance does not give good returns Still today people think that

Insurance does not give good returns. They are not aware of the modern

Unit Linked Insurance Plans which are offered by most of the Private sector

players. They are still under the perception that if they take Insurance they

will get only 5-6% returns which is not true nowadays.

Lack of awareness about the earning opportunity in the Insurance

sector People still today are not aware about the earning opportunity thatthe Insurance sector gives. After the privatization of the insurance sector

many private giants have entered the insurance sector. These private

companies in order to beat the competition and to increase their Insurance

Advisors to increase their reach to the customers are giving very high

commission rates but people are not aware of that.

Increased competition Today the competition in the Insurance sector

has became very stiff. Currently there are 14 Life Insurance companiesworking in India including the LIC (life insurance Corporation of India). Today

each and every company is trying to increase their Insurance Advisors so

that they can increase their reach in the market.

This situation has created a scenario in which to recruit Life

insurance Advisors and to sell life Insurance Policy has became

very-very difficult.


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INSURANCE INDUSTRYInsurance industry is a booming sector. The business of insurance is related

to the protection of the economic value of asset. Every asset has a value.

The asset would have been created through the efforts of the owner, in the

expectation that, either through the income generated there from or some

other output, some of his needs would be met. There is a normally expected

life time for the asset during which time it is expected to perform. Insurance

is a mechanism that helps to reduce such as adverse consequences.

WHAT IS INSURANCE?

Basic aim of the insurance plan satisfies the following objectives:-

Protection of economic value of assets.

Mechanism to reduce impact of adverse events on value generating

assets.

ROLE IN ECONOMIC DEVELOPMENT

Insurance directly or indirectly plays a vital role in the economic

development of the country through the following means:-

Life insurance is a major instrument in mobilizing the savings of the

people. These savings are channeled into investments for economic

groups.

The strength of life insurance is in the fact that huge amounts are

collected and pooled together for the benefit of the policy holders.

The insurance company is in the role of fiduciary- that all decision be

made for the benefit of the community.

INSURANCE- THE BUSINESS

It fulfills the criteria like:-

Brings together people with common interests.

Collects contribution- premium


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The Indian Mercantile, General Assurance and Swadeshi Life (later Bombay Life) were

some of the companies established during the same period.

The Parliament of India passed the Life Insurance Corporation Act on the

19th of June 1956, and the Life Insurance Corporation of India was created

on 1st September, 1956, with the objective of spreading life insurance much

more widely and in particular to the rural areas with a view to reach all

insurable persons in the country, providing them adequate financial cover at

a reasonable cost.

Some of the important milestones in the life

insurance business in India are:

1850, Non life insurance debuts with triton insurance company.

1870, Bombay mutual life assurance society is the first Indian owned life insurer.

1912, The Indian Life Assurance Companies Act enacted as the first statute to regulate

the life insurance business.

1928, The Indian Insurance Companies Act enacted to enable the government to collect

statistical information about both life and non-life insurance businesses.

1938, Earlier legislation consolidated and amended to by the Insurance Act with the

objective of protecting the interests of the insuring public.

1956, 245 Indian and foreign insurers and provident societies taken over by the central

government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956

with a capital contribution of Rs. 5 Crore from the Government of India.


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Insurance sector reforms In 1993, Malhotra Committee, headed

by former Finance Secretary and RBI Governor R. N. Malhotra, was formed

to evaluate the Indian insurance industry and recommend its future

direction.

The Malhotra committee was set up with the objective of complementing

the reforms initiated in the financial sector. The reforms were aimed at

creating a more efficient and competitive financial system

suitable for the requirements of the economy keeping in mind the

structural changes currently underway and recognizing that

insurance is an important part of the overall financial system where

it was necessary to address the need for similar reforms.

THE INSURANCE REGULATORY AND DEVELOPMENTAUTHORITY (IRDA)

The Insurance Act, 1938 had provided for setting up of the Controller of

Insurance to act as a strong and powerful supervisory and regulatory

authority for insurance. Post nationalization, the role of Controller of

Insurance diminished considerably in significance since the Government

owned the insurance companies.

But the scenario changed with the private and foreign companies foraying

in to the insurance sector. This necessitated the need for a strong,

independent and autonomous Insurance Regulatory Authority was felt. As

the enacting of legislation would have taken time, the then Government

constituted through a Government resolution an Interim Insurance

Regulatory Authority pending the enactment of a comprehensive legislation.


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The Insurance Regulatory and Development Authority Act, 1999 is an act to

provide for the establishment of an Authority to protect the interests of

holders of insurance policies, to regulate, promote and ensure orderly

growth of the insurance industry and for matters connected therewith or

incidental thereto and further to amend the Insurance Act, 1938, the Life

Insurance Corporation Act, 1956 and the General insurance Business

(Nationalization) Act, 1972 to end the monopoly of the Life Insurance

Corporation of India (for life insurance business) and General Insurance

Corporation and its subsidiaries (for general insurance business).


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CHAPTER 2

PROFILE OF

ORGANIZATION


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CHAPTER 2-

PROFILE OF ORGANIZATIONBharti AXA Life Insurance is a joint venture between Bharti, one of

Indias leading business groups with interests in telecom, agri business and

retail, and AXA, world leader in financial protection and wealth

management. The joint venture company has a 74% stake from Bharti and

26% stake of AXA.

The company was incorporated on 13th July 2007. Headquartered in

Bangalore, the company currently has 30 branches across India. With avision to become the leader and preferred company for financial protection

in India, Bharti AXA General Insurance offers its customers - individuals and

businesses- a wide range of products and services that meet their insurance

needs. The company launched national operations in December 2006.

Today, we have over 5200 employees across over 12 states in the country.

Our business philosophy is built around the promise of making people "Life

Confident".

The company will leverage the Bharti Groups large customer pool anddevelop a strong multi channel distribution network in both urban and rural

markets.

With a customer commitment to provide Fast, Fair & Friendly service in

all aspects of business, the company offers transparency, structured

customer support and trained manpower, backed by a robust IT platform.

The companys claims philosophy is to offer prompt and hassle free claims

service that deals with the claims process with empathy.The Management team at Bharti AXA General Insurance consists of

experienced leaders who are passionate about their companys vision and

goals and are committed to the development of Bharti AXA General

Insurance as the preferred company for Financial Protection in India.

As we expand our presence across the country to cater to your insurance

and wealth management needs with our product and service offerings, we


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continue to bring 'life confidence' to customers spread across India.

Whatever your plans in life, you can be confident that Bharti AXA Life will

offer the right financial solutions to help you achieve them.

The vision of Bharti AXA Life Insurance Company Limited is to become the

preferred life insurance company in India. This vision extends to our

recruitment philosophy as well. Both the Bharti Group in India and AXAglobally enjoy the status of being a very employee focused organization.

At Bharti AXA Life Insurance, we are determined to achieve our vision through talent who are

empowered, focused on customer service, and champions of strategic and operational

excellence.

THE JOINT VENTURE BHARTI AND AXA

BHARTI

Bharti Enterprises is one of Indias leading business groups with interests in

telecom, agri business, insurance and retail. Bharti has been a pioneering

force in the telecom sector with many firsts and innovations to its credit.

Bharti Airtel Limited, a group company, is one of Indias leading private

sector providers of telecommunications services with an aggregate of 60million customers, spanning mobile, fixed line, broadband and enterprise

services. Bharti Airtel was ranked amongst the best performing companies

in the world in the BusinessWeek IT 100 list 2007. Bharti Teletech is the

countrys largest manufacturer and exporter of telephone terminals. Bharti

has a joint venture with ELRo Holdings India Ltd. FieldFresh Foods Pvt.

Ltd - for global distribution of fresh fruits and vegetables. Bharti also has a

joint venture - Bharti AXA Life Insurance Company Ltd. - with AXA, world

leader in financial protection and wealth management. Bharti has recentlyforayed into the retail business under a company called Bharti Retail Pvt.

Ltd. It also has a joint venture Bharti Wal-Mart Private Limited with Wal-

Mart, for wholesale cash-and-carry and back-end supply chain management

operations.

AXA Group


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AXA Group is a worldwide leader in Financial Protection. AXA's operations

are diverse geographically, with major operations in Western Europe, North

America and the Asia/Pacific area. AXA had Euro 1,315 billion in assets

under management as of December 31, 2006. For full year 2006, IFRS

revenues amounted to Euro 79 billion, IFRS underlying earnings amounted

to Euro 4,010 million and IFRS adjusted earnings to Euro 5,140 million.

The AXA ordinary share is listed and trades under the symbol AXA on the

Paris Stock Exchange. The AXA American Depository Share is also listed on

the NYSE under the ticker symbol AXA.

AXA Asia Pacific Holdings

AXA Asia Pacific Holdings Ltd (AXA APH) is listed on the Australian stock

exchange and is 52.3% owned by AXA SA. AXA APH is responsible for AXA

SAs life insurance and wealth management businesses in the Asia-Pacificregion. It has operations in Australia, New Zealand, Hong Kong, Singapore,

Indonesia, Philippines, Thailand, China, India and Malaysia. AXA APH had

A$106.4 billion in total funds under management and administration at 30

June 2007 and reported a profit after tax before non-recurring items of

A$374.0 million for the six months ended 30 June 2007.

GROUP SITES

Airtel

Bharti AXA General Insurance

Bharti-Tele Tech Ltd

Bharti AXA Investment Managers

Bharti Tele Soft

Bharti Resources

Bharti Foundation

Vision Value & Strategy of Bharti AXA Llife

Insurance Ltd.

Vision
http://www.airtel.in/http://www.bharti-axagi.co.in/http://www.bharti-teletech.net/http://www.bhartiaxa-im.com/http://www.bhartitelesoft.com/http://www.bhartiresources.com/http://www.bhartifoundation.org/http://www.airtel.in/http://www.bharti-axagi.co.in/http://www.bharti-teletech.net/http://www.bhartiaxa-im.com/http://www.bhartitelesoft.com/http://www.bhartiresources.com/http://www.bhartifoundation.org/


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To be a leader and the preferred company for financial protection and

wealth management in India.

Values

Professionalism

Innovation

Team Spirit

Pragmatism

Integrity

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, 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.

HR PRACTICES

The guiding Human Resources principles at Bharti AXA are:

Clearly define scope of responsibilities and empower people to deliver

Provide people with the means to develop their competencies

Consider individual training and development a priority investment

Build organizations that are conducive to teamwork and that involve everyone


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Promote ongoing dialogue between managers and the people who report to them

Make cultural difference a key source of strength

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 brands which can be leveraged to attract and retain a high quality

management team.

COMPETITORS

After the privatization in India in 1999, under the Insurance Regulatory

Development Authority (IRDA) many insurance companies came to India to

set up their business. Till now 23 insurance companies have formed their

grip here in the country and running profitably and selling life insuranceplans.

Max New York Life was set up in India in 2000 and in December 2004

started its business in Bhubaneswar after getting the license in November.

Till date it has achieved a prestigious place among the citizens of India and

well competes with its competitors.

The main competitors of MNYL are as follows:-

BAJAJ Allianz

ICICI Prudential

Max New York Life

HDFC Life Insurance


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The rest of the competitors those are present in the market are: -

Aviva Life Insurance India

Birla Sun Life Insurance

ING Vysya Life Insurance

Kotak Mahindra Old Mutual

LIC

MetLife India Insurance

Reliance Life Insurance

SBI Life Insurance

Shriram Life Insurance

TATA AIG Life Insurance

MANAGEMENT PROFILENitin Chopra

Chief Executive Officer

Nitin Chopra (49) is the Chief Executive Officer

(CEO) of Bharti AXA Life Insurance Company Ltd(Bharati AXA). An engineer from Indian Institute of

Technology (IIT) Kanpur and an MBA from Indian

Institute of Management (IIM),Ahmedabad, Nitin

brings with him 24 years of rich experience in the

corporate world, of which the last 15 years have

been in the financial services industry.

He started his career with the Unilever Group, before moving on to Bank ofAmerica NT & SA, where he spent nine years in different capacities,

including Vice President & Business Director, Retail Liabilities. Nitin was

instrumental behind several firsts in the Indian retail banking industry,

including introducing 365 extended banking, doorstep banking and tiered

fee. He played a pivotal role in the transition of Bank of Americas retail

business to ABN AMRO Bank, as a consequence of a regional sale.


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Following the sale, he moved to ABN Amro Bank N.V as Head of the

Consumer Banking Division from July 1999 to May 2006. He played a

significant role in conceptualizing best practices in the Bancassurance

business in India, with innovative product and distribution strategies.

Launch of Bancafe and Mobile Power are some of the market firsts to his

credit. He enabled the Bank achieve leadership position as a WealthManager. During Nitins stint, the revenue for consumer business increased

over seven times.

As the CEO of Bharti AXA, he manages the entire Indian operations of the

private life joint venture between Bharti Enterprises, one of Indias leading

business groups with interests in telecom, agri business and insurance, and

AXA, world leader in financial protection and wealth management.

Shyamal Saxena

Chief Distribution and Marketing Officer

Shyamal Saxena is the Chief Distribution andMarketing Officer of Bharti AXA Life Insurance

Company.

Shyamal Saxena brings to the business over 15 years

of experience in the banking and financial services

sector. Before joing us in October 2007, he was with HDFC Bank as

Executive Vice President Retail Banking. He joined the Bank in 1999, after

a seven year stint in various retail banking capacities at Bank of America.

Shyamal is a management graduate from Jamnalal Bajaj Institute ofManagement Studies.

Tim Thomas

Chief Operating Officer


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Tim Thomas is the Chief Operating Officer of Bharti AXA Life Insurance

Company. A Bachelor of Commerce and Bachelor of Laws from the

University of Melbourne, Tim has over 12 years of experience in financial

services. Tim's first assignment was with the chartered accounting and

management consulting firm Coopers and Lybrand (now PWC). He then

moved to Colonial Group as Corporate Counsel before taking key corporate

finance responsibilities. Tim was awarded a corporate scholarship to pursuea Master of Business Administration at the University of Melbourne

(Melbourne Business School) which he completed with Honours in 1999.

In 2000 Tim joined Medi bank Private, market leader in the Australian

private health insurance market, as Head of Strategy. He then joined AXA

Asia Pacific Holdings Ltd in 2002 in Group Strategy where he lead several

key strategic initiatives for the group including the design of the successful

AXA 6 business programme for the Australia wealth management business

and the India market entry strategy. Tim moved to India in early 2005 as

the AXA's Chief Representative and Market Entry Director where he lead the

establishment of the joint venture with Bharti across life insurance, general

insurance and asset management, and launched the life insurance business.

As Chief Operating Officer Tim is currently responsible for the life insurance

operating platform, and is involved in several key business change

initiatives across AXA in Asia.


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Priya Ranjan

Director Human Resources

Priya Ranjan is Director - Human Resources at

Bharti AXA Life Insurance Company.

He brings to the business over 15 years of HR

experience in diverse fields spanning financial

services, information technology and manufacturing. He specialises in

building large scale businesses from their project days.

Before joining Bharti AXA Life, Ranjan was with JPMorgan Chase Bank,

Singapore as Vice President & Regional HR Manager - Technology &

Operations (APAC) from May 2005, after serving the office of Vice President& Head - HR for the Global Service Centre of the Bank in India for about 3

years. Between June 1997 and May 2002, Ranjan was with GE Capital as

Vice President & Head - HR for the credit card business, where he was a part

of the Project Team responsible for creating the business in India.

He also has an entrepreneurial venture to his credit with Bangalore-based

Team Excel, which specialised in recruitment & HR consulting. His first

assignment was with Tata Steel as Sr. Personnel Officer from 1991 to 1994,followed by Microland Ltd. as Manager - HR for two years. Ranjan is a BA

(Hons) from St Xavier's College, Kolkata and holds a Post Graduate Diploma

in Personnel Management from XLRI.

Insurance Products of Bharti AXA

Life insurance products for individuals:

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.

Bharti AXA Life AspireLife

Unit Linked Endowment Product.


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Questionnaire methods and discussions with the HR and the employees

were used to collect data.

Questionnaire Designed: Questionnaire was used for the survey. The

questionnaire are given in the Appendices.

Secondary Data Sources

The secondary data sources were collected from the company manuals,

handbooks, and management books and are edited to suite the purpose.

RESEARCH DESIGNExploratory type of research designs adopted because sources of

information are relatively few and the purpose is merely to find and to

understand the possible actions. The major purposes of exploratory study

are:

Identification of problem

The precise formulation of problems including the identification of variables

Formulation of alternative course of action

SAMPLING

Sample size: Total sample size is 200 individual customers

Sample procedure: Random sampling

Sample area: Bhubaneswar

In Bhubaneswar the area covered are BiG BAZAR, Pantaloons, Rasulgarh,

Achrya Vihar, Vani Vihar, VSS Nagar because in these particular areas

there are so many public and private institutions are available.

ANALYSIS


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Data collected from the survey through systematically framed

questionnaires and those are being analyzed.

SURVEY METHODOLOGY

The process involved in the project is broadly explained below:

Phase 1: Preparation of the questionnaire

There are two stages:

a) To prepare a rough questionnaire and get it corrected from our guide

and then finalizing on the question that need to be asked.

b) Preparation of the final questionnaire.

Phase 2: Market survey

There are two stages in this as well:

Finalizing on what kind of people to target. For this survey I selected

people randomly.

Carrying out the survey

Sample size: 200

Location: Bhubaneswar

Phase 3: Standardization of data:

Then the information so obtained was standardized using some tools

like pie charts and bar graphs to help in analyzing the data.

Phase 4: Analysis of data:

Once the data is standardized a comparable analysis was done for

each of the questions asked to the people.

Phase 5: Interpretation:


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The key findings and recommendation would be provided at the end of

the project in the form of a presentation and a report containing following

elements:

a) Market scenario

b) Perception of people for being a financial advisor in MNYL.

c) Recommendations

Limitation of the study

Time & geographical constraints were the main limitation for our project due

to which it has not been possible for us to visit each and every individual

who was interested for being an agent. Other limitations were:

1) Data that is provided by questionnaires is not always correct.

2) The market is too vast to cover and is difficult to capture completely.

3) No secondary data about potential customer is also available.

THE RECRUITMENT PROCESS FLOWCHART:-

Following is the flowchart of steps followed in recruitment of Lifeadvisors:

Identifying Vacancy & advertising it

Prepare Job Description and person

Specification

Short-listing on the basis of Q

scores


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Conduction of interview

Filling up the compulsory IRDA form

Scheduling the training

Conduction of examination

Final selection as LA

Figure 2 : Recruitment Process Flowchart

The elaboration on all the steps given in the flow chart above is given in the

following pages.

Identifying vacancy and advertising it: the following

changes in the scenario led to the increasing vacancy for life advisors in

Bharti AXA BHUBANESWAR.

Expansion of business as well as market.

Growing competition.

Change in demographics.


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After the identification of vacancy pamphlets containing the details were

prepared and were distributed. The pamphlets used by us have been

provided as Appendices.

Preparing job description and person specification:

Career Bandwidth as a Life advisor at Bharti AXA:

As a Life Advisor at Bharti AXA, there is only one way to grow. And thats by

meeting and exceeding your targets.

As a good performer, you stand to get promoted from Bronze to Diamond

Club and enjoy special remuneration benefits.

As a Life Advisor, you can get appointed as an Agency Manager within aspan of just 9 months to 1 year.

As a Life Advisor, you also get to participate in various business related

projects and committees.

Compensation

As a Life Advisor, you have the opportunity to create attractive earnings for

the first year and for the long term through payouts.

Higher the business you generate in the first year, higher the income you

stand to earn year after year.

Get rewarded through Best in Class Rewards and Recognition programs

including overseas conventions.

Support

All Bharti AXA branches have HR services for support on all matters related to

compensation and career so you can redress your concerns immediately.

State-of-the-art Distribution Training support.

Comprehensive marketing support in terms of brochures, illustrations etc.


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Sales Management Support for on the job training and business closure.

Infrastructure & Technology support through dedicated Life Advisors bay

equipped with telephones, computers and internet at Bharti AXA premises.

Customer Service and operations support.

The details about the rewards and recognition are given in Appendices.

Short Listing on the basis of Q scores:

The five Qs-The Qs are 5 different criteria where the candidates are to be

analyzed. These criteria can be defined as given below.

Q1- On the basis of Tenure of stay in City/Town:

Less then 3 years => Q score = 0

Between 3 to 5 years => Q score = 1More then 5 years => Q score = 2

So, the candidate should have been a resident of BHUBANESWAR for

at least five years.

Q2- On the basis of Marital Status:

If unmarried => Q score = 1

Married => Q score = 2

He/ She should be married.

Q3- On the basis of Household Income:

Less then 2 Lakhs => Q score = 0

Between 2 to 5 Lakhs => Q score = 1

More then 5 Lakhs => Q score = 2

His/ Her annual income should be at least 2 to 5 Lakhs.

Q4- On the basis of Education:

10th or 12th Standard => Q score = 1

Graduate => Q score = 2

Post Graduate => Q score = 2

He/ She should be a graduate.

Q5- On the basis of Age:


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Below 25 => Q score = 0

Between 25 -40 => Q score = 2

More than 40 => Q score = 1

Minimum age to be eligible for being a life advisor is 25.

{So to be eligible for the Life advisor sum of Q score (i.e. Q1 + Q2 +

Q3 + Q4 + Q5) should be Min 5, & if the Q score = (7 or more) then

the candidate is accepted as Life advisor}

The significance of Qs

A high Q score implies possibility of better performance by the candidate

as a life advisor (meaning better revenue generation ability). On an

average only a candidate with a score of Q5 or Q6 was interviewed.

A low Q score implies lesser possibility of such performance.

Conduction of interview:

Pre- interview: Preparation of recruitment /selection document for

Advertising.

Preparing advertisement

Media selection

Positioning

Response handling

Initial interview online or telephone

Short-listing for interviews

Interview arrangement

Sending emails or calling short listed candidates

Interview details to the short listed candidates

During Interview

HR interview


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Technical interview

Conducting tests [Aptitude / Mathematical / Analytical etc.]

Initial final list of candidates

Reference check (if required)

Post interview

Email or Telephone call to unsuccessful candidates.

Technical Manager approval for a startup date.

Email or Telephone call to successful candidates.

HRM prepares a letter of appointment.

Selection Process

Starts with the preliminary interview.

Ends with contract of employment.

Different process for different organization.

Different process for different job in same organization.

Selection easy for shop floor workers.

Selection of managers are crucial.

Affected by internal & external environment.

Mutual decision making.

Filling up of compulsory IRDA form: a NAAF (New advisor

application form) is to be filled up by the candidate. Provided as

Appendices.

Scheduling of the training:guidelines as per provisions of IRDA Act for

training of life advisors (effective from 31st October 2004).

The applicant shall have to undergo at least 100 hours practical training in

life or general insurance business which may be spread over three to


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four weeks, where such applicant is seeking license for the first time to

act as an insurance agent.

The training duration should be minimum 18 working days excluding

Sundays and holidays.

No product training/market survey should be included into this hundred 100

hours training. The product training, if any, to be given by the

insurance company should be over and above the minimum training

hours prescribed by the Authority

The attendance record of the trainees should be maintained at the Institute

for necessary inspection at any given point of time.

In case of short-fall of attendance, extra class may be permitted but the

extra hours may be specified separately with proper attendance and

details of faculty.

Every Institute should have at least one qualified permanent faculty who is

an Associate or Fellow from the Insurance Institute of India for each

stream i.e. for Life and Non-Life.

The attendance register of the faculty members should be maintained at

the training institutes.

The record of the payment made to faculty should be maintained at the

training institute i.e. batch-wise payment detail should be maintained.

The faculty should provide details of the other Institutes with whom they

have been empanelled as part-time/guest faculty.

Register should be maintained at the training institute giving details of

batches completed, strength of the each batch, number of candidatesdecertified, name of the sponsored insurer and details of faculty who

imparted the training with dates.

The seating capacity of each class-room should not exceed 40.

The fresh accreditation will be given on need basis after assessing the

needs of the particular city/town.


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The initial approval will be for a period of 3 years and consideration of

further renewal up to 3 years would depend on the satisfactory

compliance of requirements of accreditation.

The insurance companies would regularly send their officials to oversee the

proper conduct of the training at the institutes and would not sponsor

candidates to those institutes that are not maintaining the required

standards of and facilities for the training.

The training institute must display the certificate of accreditation to impart

training issued by the Authority at the training institute.

The Institute should not allow a franchisee to conduct courses on its behalf

even if the faculty is that of the Institute. The Institute should conduct

the training on its own premises or hired premises with proper

infrastructure.

No marketing fee/consultancy fee payment is permitted for getting the

training batches.

It will be the responsibility of the Insurance Company to check the status of

the institute before sponsoring any candidates for training.

In case of rural areas or the cities where there are no accredited institutes

and an insurance company intends to appoint agents, it will be the

responsibility of the insurance company to conduct training.

The Institutes must keep with them one set of records of the training at the

place where the training is being imparted.

The Institute should confine its activities only to the place/city for which it

has been given the approval. No training outside the said place/city ispermitted.

The Institutes must submit a copy of the lease deed/rent agreement at the

time of seeking fresh accreditation/renewal/change of address of the

institute.


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On successful completion of training the candidates get COT i.e. the

Completion of Training Certificate by Bharti AXA.

1. Conduction of examination:

7.1 Syllabus: The syllabus prescribed by the authority for life insurance agents is given in

Appendices. It is indicative and not exhaustive. The self study course material developedby institute in book form only the broad basis of examination which is available for sale

with the institute and its associated institutes. A candidate is expected to study the course

material in depth and also assimilate general information relevant to the subject

Candidate is also expected to know up-to-date developments in the insurance industry.

7.2 Pattern of examination: normally objective type multiple choice questions are asked. A

candidate is required to indicate the correct alternative. A candidate is required to secure

at least 50% marks to be declared successful. But the institute reserves the right to

change, the pattern of question paper for the examinations without notice to anyone to

test the knowledge of the candidate as it deems fit.

7.3 Mode of examination: The test can be taken up in either of the two modes- online or

offline. Depending on the mode of testing the training is also arranged. For online mode

the training is also done online whereas in offline mode the training is done in the class

room format of. The duration of classroom training is 6+2 days. Where 6 days are

reserved for compulsory IRDA training and the remaining 2 days are for product based

training.

7.4 Admission card: No candidate will be allowed to appear for the examination unless he/

she produces the admission card. The admission card will be issued by Bharti AXA.

Besides admission card candidate must possess COT issued by Bharti AXA.

7.5 Sample questions: a list of sample questions is given as Appendices.

2. Final selection as Life Advisor: the final selection as Life advisor is

communicated to the candidate.

So we can summarize the recruitment & development process in Bharati

AXA Life Insurance Ltd. In the following steps given below:


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1. ISF- Initial Screening Form (Based on Q score)

2. BOP- Business Opportunity Presentation (Based on Interview)

3. NAAF- New Advisor Application Form

4. Four Days Exam Training

5. Examination ( IRDA)

6. 50 Hours for product training given at training centre of Bharati AXA.

7. IRDA gives license.

8. After all above things are being completed the Life Advisor are fully trained

to resume their work.

[ ISF- Initial Screening Form, NAAF- New Advisor Application

Form, Syllabus for IRDA are given in the Appendices ]


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CHAPTER 4

DATA PRESENTATION,

ANALYSIS AND

INTERPRETATION


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CHAPTER 4Data Presentation, Analysis & Interpretation

Analysis 1

Age of respondents: the following is the distribution of age of the

respondents.

Age 40

YearsNumber of

individuals

108 62 30

Figure 3 : Age Respondent

Less than 25 years of age individuals constitute 54% of sample size.

Whereas individuals with more than 40 years of age constitute only 15%.

Interpretation: sample which has been surveyed is dominated by younger

individuals.


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Analysis 2

Sex of respondents

Figure 4: Sex Respondent

Interpretation: Sample is dominated by males which constitute 78% of total

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