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SUMMER TRAINING REPORT

ON

RECRUITMENT OF LIFE ADVISERS

In the partial fulfillment of the Degree of Master of Business Administration

Session: (2012-2014)

Submitted by:

VIVEK NARAYAN SINGHROLL No. 60

RAJARSHI SCHOOL OF MANAGEMENT AND TECHNOLOGY,

(U.P. COLLEGE CAMPUS VARANASI)

PREFACE

Practical training is an important part of management courses.

Theoretical studies are not sufficient to get into corporate world

and understand the complexities of large-scale organizations.

Practical training exposes us to real practices of management in the

organization. It also exposes students to the treasures of

experience, knowledge and leaning which prerequisites of making

a successful career are.

I deem it privilege to have undergone this project. I acknowledge

that the practical training that I got from this cannot be gained

otherwise. I found my project very interesting and challenging.

(VIVEK NARAYAN SINGH)

DECLARATION

I hereby declare that study of “RECRUITMENT OF LIFE ADVISERS” has

been exclusively done by me for the degree of MASTERS OF BUSINESS

ADMINISTRATION and not for any other degree, Diploma or fellowship.

This is my own study done under the guidance of guide and Managers of the

company.

I hereby declare that the contents of this report are true and best to my

knowledge.

(VIVEK NARAYAN SINGH)

Brief summary

Introduction:

A general term ‘insurance’ is related to service sector. Insurance is

concerned with the protection of economic value of assets. For

example in case of a factory or a cow, the product generated by it

is sold and income is generated. In this project the Bharti AXA

Life Insurance Company is undertaken which is one of the popular

sector insurance sectors. The analysis of “Bharti AXA Life

Insurance” is taken form different sectors.

For creating strong relationship and for a success full business

every insurance company required financial planner.

Objective of the study:

How to recruit agents for Bharti-AXA life insurance.

To understand the process of RECRUITMENT OF LIFE

ADVISERS in life insurance.

Why people are not willing to work as an agent in life

insurance sector specially with private companies.

Need of the study:

The study is undertaken to know how many people are interested

to work as life insurance agent in Bharti AXA and their thinking

about the Bharti AXA Life Insurance Company or about private

insurance company.

Conclusion:

In India, there is throat cut competition in the market of life

insurance that brand service which adopt new strategies for sales. I

concluding the whole story it can be said that people are much

more aware about the aspects of life insurance and also have

knowledge about the role and act of agent but mostly people

unwilling to work as life insurance agent and mostly people prefer

to work with LIC because it is a semi government corporation.

Table of Contents

CHAPTER NO. PARTICULARS

CHAPTER 1 INDUSTRY PROFILE

CHAPTER 2 COMPANY PROFILE

CHAPTER 3 INTRODUCTION OF RECRUITMENT AND

SELECTION PROCESS OF AGENT

CHAPTER 4 RESEARCH METHODOLOGY

OBJECTIVES OF THE STUDY

CHAPTER 5 DATA PRESENTATION AND

INTERPRETATION

CHAPTER 6 LIMITATIONS AND FINDINGS

CHAPTER 7 CONCLUSION AND SUGGESTIONS

CHAPTER 8 BIBLIOGRAPHY

INDUSTRY PROFILE

WHAT IS INSURANCE

The business of insurance is related to the protection of the

ECONOMIC VALUES OF ASSETS. Every asset has a value. The

asset would have been created through the efforts of the owner.

The asset would have been created through the efforts of the

owner. The asset is valuable to the owner, because he expects to

get some benefits form it. It is a benefit because it meets some of

his needs. The benefit may be an income or in some other form. In

the case of a factory or a cow, the product generated by it is sold

and income is generated. In the case of a motor car, it provides

comfort and convenience in transportation. There is no direct

income. Both are assets and provide benefits.

Every asset is expected to last for a certain period of time during

which it will provide the benefits. After that, the benefit may not

be available.

There is a life-time for a machine in factory or a cow or a motor

car. None of them will last for ever. The owner is aware of this and

he can so manage his affairs that by the end of that period or life-

time, a substitute is made available. Thus he makes sure that the

benefit is not lost. However, the asset may get lost earlier. An

accident or some other unfortunate event may destroy it or make it

incapable of giving the benefits. An epidemic may kill the cow

suddenly. In that case, the owner and those enjoying the benefits

therefore, would be deprived of the benefits. The planned

substitute would not have been ready. There is an adverse or

unpleasant situation. Insurance is a mechanism that helps to reduce

the effects of such adverse situations. It promises to pay to the

owner or beneficiary of the asset, a certain sum if the loss occurs.

HISTORY OF INSURANCE

Insurance has been known to exist in some form or other

since 3000 BC. The Chinese traders, traveling treacherous

river rapids would distribute their goods among several

vessels, so that the loss form any one vessel being lost, would

be partial and shared, and not total. The Babylonian traders

would agree to pay additional sums to lenders, as the price

for writing off the loans, in case of the shipment being stolen.

The inhabitants of Rhodes adopted the principle of general

average of ‘general average’, whereby, if goods are shipped

together, the owners would bear the losses in proportion, if

loss occurs, due to jettisoning during distress. {Captains of

ships caught in storms, would throw away some of the cargo

to reduce the weight and restore balance. Such throwing

away is called jettisoning} The Greeks had started benevolent

societies in the late 7 th century AD, to take care of the

funeral and families of members ho died. The great fire of

London in 1666,in which more than 13000 house were lost,

gave a boost to insurance and the first fire insurance

company, called the fire office, was started in 1680.

The origins of insurance business as in vogue at present, is

traced to the Lloyd’s Coffee House in London. Traders, who

used to gather in the Lloyd’s coffee house in London, agreed

to share the losses to their goods while being carried by

ships. The losses used to occur because of pirates who robbed

on the high seas of because of bad weather spoiling the goods

or sinking the ship. In India, insurance began in 1818 with

life insurance being transacted by an English company, the

Oriental Life Insurance Co. in 1870 in Mumbai. This was

followed by the Bharat Insurance co. in 1896 in Delhi, the

Empire of India in 1897 in Mumbai, The United India in

Chennai, the National, the National Indian and Hindustan

Cooperative in Kolkata.

Later, were established the cooperative Assurance in Lahore,

the Bombay Life (originally called the swadeshi life), the

India Mercantile, the new India and the Jupiter in Mumbai

and the Lakshmi in New Delhi. These were all Indian

companies started as a result of the swadeshi movement in

the early 1900s. By the year 1956, when life insurance

business was nationalized and the life Insurance Corporation

of India (LIC) was formed on1st September 1956, there were

170 companies and 75 provident fund societies transacting

life business in India. After the amendments to the relevant

laws in 1999, the L.I.C. did not have the exclusive privilege

of doing life insurance business in India. By 31.8.2007,

sixteen new life insurers had been registered and were

transacting life insurance business in India.

The History of Insurance in India

Some of the important milestones in the life insurance

business in India are:

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.

The General insurance business in India, on the other hand,

can trace its roots to the Triton Insurance Company Ltd., the

first general insurance company established in the year 1850

in Calcutta by the British.

Life Insurance a Basic Need

Life insurance is a contract providing for payment of a sum of

money to the person assured or, failing him, to the person

entitled to receive the same, on the happening of certain event.

A family is generally dependent for its food, clothing and shelter

on the income brought in at regular intervals by the bread winner

of the family. So long as the he lives and the income is received

steadily, that family is secure; but should death suddenly intervene

the family may be left in a very difficult situation and sometimes,

in stark poverty.

Uncertainty of death is inherent in human life. It is this uncertainty

that is risk, which gives rise to the necessity for some form of

protection against the financial loss arising from death; insurance

substitutes this uncertainty by certainty.

Few Advantages of Life Insurance.

1. It is superior to an ordinary savings plans:

This is so because unlike other saving plans, it affords full

protection against risk of death. In case of death, the full sum

assured is made available under a life assurance policy; whereas

under other savings schemes the total accumulated savings alone

will be available. The latter will be considerably less than the sum

assured, if death occurs during early years.

2. Insurance encourages and forces thrift:

A savings deposit can be too easily withdrawn. Many may not be

able to resist the temptation of using the balance for some less

worthy purpose. On the other hand, the payment of life insurance

premiums becomes a habit and comes to be viewed wit the same

seriousness as the payment of interest on a mortgage. Thus

insurance, in effect brings about compulsory saving.

3. Easy settlement and protection against creditors:

The life assured can name a person or persons to whom the policy

moneys would be payable in the event of his death. The proceeds

of a life insurance policy can be protected against.The claims of

the creditors of the life assured by effecting a valid assignment of

the policy. A married women’s property act policy constitutes a

trust in favor of the wife and children and no separate assignment

is necessary. The beneficiaries are fully protected from creditors

except to the extent of any interest in the policy retained by the

assured.

.

4. Administering the legacy for beneficiaries:

It often happens that a provision which a husband or father has

made through insurance is quickly lost through speculative or

unwise investment or by unnecessary expenditure on luxuries.

These contingencies can be provided against in the case of

insurance. The policyholder can arrange that in the in the event of

his death the beneficiary should receive, instead of a single sum

(a). payment of the net claim amount by equal installments over a

specified period of years, or (b).payment of the claim amount by

smaller monthly installments over the selected period followed by

a lump sum at the end thereof.

5. Ready marketability and suitability for quick borrowings:

After an initial period, if the policy holder finds himself unable to

continue payment of premiums he can surrender the policy for a

cash sum. Alternatively he can tide over a temporary difficulty by

taking loan on the sole security of the policy without delay. Further

a life insurance policy is sometimes acceptable as security for a

commercial loan.

6. Tax relief:

For computing income tax (especially in India the Indian income

tax act) follows deduction from income tax payable, a certain

percentage of a portion of the taxable income of individuals which

is diverted to payment of insurance premiums. When this tax relief

is taken into account it will be found that the assured is n effect

paying a lower premium for his insurance.

How Insurance Works

The mechanism of insurance is very simple. People who are

exposed to the same risks come together and agree that, if any one

of the members suffers a loss, the others will share the loss and

make good to the person who lost. All people who send goods by

ship are exposed to the same risk related to water damage, ship

sinking, piracy, etc. those owning factories are not exposed to

these risks, but they are exposed to different kinds of risks like,

fire, hailstorms, earthquakes, lightening, burglary, etc. like this,

different kinds of risks can be identified and separate groups, made

including those exposed to such risks. By this method, the risk is

spread among the community and the likely big impact on one is

reduced to smaller manageable impacts on all.

If a Jumbo Jet with more than 350 passenger’s crashes, the loss

would run into several crores of rupees. No airline would be able

to bear such a loss. It is unlikely that many Jumbo Jets will crash at

the same time. If 100 airline companies flying Jumbo Jets, come

together into an insurance pool, whenever one of the jumbo jets in

the pool crashes, the loss to be borne by each airline would come

down to a few lakhs of rupees. Thus, insurance is a business

‘sharing’.

Role of Insurance in Economic Development

For economic development, investments are necessary.

Investments are made out of savings. A life insurance

company is a major instrument for the mobilization of

savings of people, particularly from the middle and lower

income groups. These savings are channeled into investments

for economic growth.

An insurance company’s strength lies in the fact that huge

amounts come by way of premiums. Every premium

represents a risk that is covered by that premium. In effect,

therefore, these vast amounts represent pooling of risks. The

funds are collected and held in trust for the benefit of the

policyholders.

The management of insurance companies is required to keep

this aspect in mind and make all its decisions in ways that

benefit the community. This applies also to its investments.

This is why successful insurance companies would not be

found investing in speculative ventures. Their investments

benefit the society at large.

The system of insurance provides numerous direct and

indirect benefits to the individual and his family as well as to

industry and commerce and to the community and the nation

as a whole. Those who insure, both individuals and

corporate, are directly benefited because they are protected

from the consequences of the loss that may be caused by the

accident or fortuitous event. Insurance, thus, in a sense

protects the capital in industry and releases the capital for

further expansion and development of business and industry.

The every existence of risk that is, uncertainty concerning the

future, is a severe handicaps in economic activities. Insurance

removes the fear, worry and anxiety associated with this

future uncertainty and thus encourages free investment of

capital in business enterprises and promotes efficient use of

existing resources.

Thus insurance encourages commercial and industrial

development and there by contributes to a vigorous economy

and increased national productivity.

Present day organization of industry, commerce and trade

depend entirely on insurance for their operation, banks and

financial institutions lend money to industrial and

commercial undertakings only on the basis of the collateral

security of insurance. No bank or financial institution would

advance loans on property unless it is insured against loss or

damage by insurable perils.

Insurers are closely associated with several agencies and

institutions engaged in fire loss prevention, cargo loss

prevention, cargo loss prevention, industrial safety and road

safety. Before acceptance of a risk, insurers arrange survey

and inspection of the property to be insured, by qualified

engineers and other experts.

The object of these surveys is not only to assess the risk for

rating purposes but also to suggest and recommend to the

insured, various improvements in the risk, which will attract

lower rates of premium and what is more important , reduce

the loss potential. For example, burglary surveyors make

recommendation in regard to security measures such as better

locking system, appointment of Watchman, etc. Engineering

surveys play a most useful part in accident prevention as

valuable technical advice is provided in respect of plant and

machinery.

Insurance ranks with export trade, shipping and banking

services as earner of foreign exchange to the country. It helps

to earn foreign exchange and represent invisible exports.

List of Insurance Companies Listed in Different Years

List of Life Insurance Companies

S.

No

.

Regist

ration

Numb

er

Date of

Reg.

Name of the Company

1 101 23.10.2

000

HDFC Standard Life Insurance

Company Ltd.

2 104 15.11.2

000

Max New York Life Insurance Co.

Ltd.

3 105 24.11.2

000

ICICI Prudential Life Insurance

Company Ltd.

4 107 10.01.2

001

Kotak Mahindra Old Mutual Life

Insurance Limited

5 109 31.01.2

001

Birla Sun Life Insurance Company

Ltd.

6 110 12.02.2

001

Tata AIG Life Insurance Company

Ltd.

7 111 30.03.2

001

SBI Life Insurance Company

Limited .

8 114 02.08.2

001

ING Vysya Life Insurance Company Private

Limited

9 116 03.08.2

001

Bajaj Allianz Life Insurance Company

Limited

10 117 06.08.2

001

Metlife India Insurance Company Ltd.

11 133 04.09.2

007

Future Generali India Life Insurance

Company Limited

12 135 19.12.2

007

IDBI Fortis Life Insurance Company

Ltd.

1

3

102 23.10

.2000

Royal Sundaram Alliance

Insurance Company Limited

1

4

103 23.10

.2000

Reliance General Insurance

Company Limited.

1 106 04.12 IFFCO Tokio General

5 .2000 Insurance Co. Ltd

1

6

108 22.01

.2001

TATA AIG General

Insurance Company Ltd.

1

7

113 02.05

.2001

Bajaj Allianz General

Insurance Company Limited

1

8

115 03.08

.2001

ICICI Lombard General

Insurance Company Limited.

1

9

131 03.08

.2007

Apollo DKV Insurance

Company Limited

2

0

132 04.09

.2007

Future Generali India

Insurance Company Limited

2

1

134 16.11

.2007

Universal Sompo General

Insurance Company Ltd.

2

2

121 03.01

.2002

Reliance Life Insurance

company Ltd.

2

3

122 14.05

.2002

Aviva Life Insurance Co.

India Pvt. Ltd.

2

4

127 06.02

.2004

Sahara India Insurance

Company Ltd.

2

5

128 17.11

.2005

Shriram Life Insurance

Company Ltd.

2

6

130 14.07

.2006 

Bharti AXA Life Insurance

Company Ltd.

2

7

133 04.09

.2007

Future general Indai life Insurance Co.Ltd

2

8

135 19.12

.2007

IDBI Fortis Life Insurance

Company Ltd.

2

9

136 08.05

.2008

Canara HSBC Oriental Bank

of Commerce Life

Insurance Company Ltd.

3

0

138 27.06

.2008

Aegon Religare Life

Insurance Company Ltd.

3

1

140 27.06

.2008

DLF Pramerica Life

Insurance Company Ltd.

List of General Insurance Companies

1 123 15.07

.2002

Cholamandalam General

Insurance Company Ltd.

2. 124 27.08

.2002

Export Credit Guarantee

Corporation Ltd.

3. 125 27.08

.2002

HDFC-Chubb General

Insurance Co. Ltd.

1 139 27.06

.2008

Bharti Axa General Insurance

Company Ltd.

2 141 15.12

.2008

Raheja QBE General

Insurance Co. Ltd

COMPANY

PROFILE

History of Bharti AXA Life Insurance

Bharti AXA Life Insurance is a joint venture between Bharti, one

of India’s 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, company have over 8000 employees across over 12 states

in the country and a national footprint of distributors trained to

provide quality financial advice and insurance solutions to the

large Indian customer base. Open first branch office in Hyderabad.

Introduces 2 unit linked products- “future confident’ and ‘wealth

confident’

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

network of distributors, 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.

Bharti-AXA perform over following cities

Hyderabad

Mumbai

Delhi

Bangalore

Kolkata

Chennai

Ahmedabad

Ludhiana

Lucknow

Surat

Kochi

Indoor

Chandigarh

Vadodra

Bhubneshwar

Jaipur

Mohali

Vision

To be a leader and the preferred company for financial protection

and wealth management in India

values

professionalism

InnovationTeam 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 recognised as being close and qualified by our

customers

Bharti Group

Bharti Airtel Ltd

Bharti Airtel Ltd is one of Asia's leading telecommunications

service provider. The Company is India’s largest integrated

telecom company in terms of customer base and offers Mobile

Services, Fixed Line services, Broadband & IPTV, DTH, Long

Distance and Enterprise services. Airtel also offers mobile services

in Sri Lanka on a state-of-the art 3.5 G network. 

Bharti TeleTech Ltd

Bharti Teletech is India’s leading telecom & allied products

company. It is one of the largest manufacturers of landline

telephones in the world. With a strong distribution network across

the country, the company is also the primary distributor of IT and

Telecom products from interntional brands such as Motorola,

Blackberry, Thomson, Polycom, Transcend, and Logitech. 

Telecom Seychelles Ltd

A subsidiary of Bharti, Telecom Seychelles Ltd provides

comprehensive telecom services including 3G mobile services in

Seychelles, under the ‘Airtel’ brand.

Comviva Technologies Ltd

Comviva is the leading provider of integrated VAS solutions for

mobile operators in emerging markets. Among the top 3 global

providers of integrated VAS solutions in rapidly growing markets,

Comviva has deployed solutions for over 100 mobile operator

customers in over 80 countries worldwide.

FieldFresh Foods Pvt. Ltd.

FieldFresh Foods Pvt. Ltd., is a venture between Bharti Enterprises

and Del Monte Pacific Limited, to offer fresh and processed fruits

and vegetables in the domestic as well as international markets,

including Europe and the Middle East.

Bharti Retail Pvt Ltd

Bharti Retail is a wholly owned subsidiary of Bharti Enterprises.

Bharti Retail operates a chain of multiple format stores that offer

consumers affordable prices, great quality and wider choice. The

company’s neighbourhood format stores operate under the

"Easyday" brand and the compact hypermarket format under the

“Easyday market” brand. 

Bharti AXA General Insurance Company

Bharti AXA General Insurance is a joint venture between Bharti

Enterprises and AXA, world leader in financial protection and

wealth management. The company was incorporated in July 2007

and offers a full suite of general insurance solutions to meet the

needs of businesses and individuals alike.

Bharti AXA Life Insurance Company

Bharti AXA Life Insurance Company Ltd is a joint venture

between Bharti Enterprises and AXA, world leader in financial

protection and wealth management. The company offers a range of

life insurance and wealth management products with an endeavour

to help customers lead a confident life.  

Bharti AXA Investment Managers Pvt. Ltd.

Bharti AXA Investment Managers Pvt. Ltd., an asset management

company in India, is a joint venture between Bharti Enterprises,

AXA Investment Managers (AXA IM) and AXA Asia Pacific

Holdings (AXA APH).

Centum Learning Limited

Centum Learning Limited provides end-to-end learning and skill-

building solutions to several large corporates. It provides solutions

that impact business performance through enhanced employee

productivity, customer profitability and effective talent

transformation.

Jersey Airtel Ltd

Jersey Airtel, a subsidiary of Bharti, offers world-class mobile

services in Jersey (Channel Islands) over its full 2G, 3G and

HSDPA enhanced network. The Company brings market-leading

products and services to its customers under Airtel-Vodafone

brand.

Bharti Foundation

Bharti Foundation was set up in 2000, with the vision, “To help

underprivileged children and young people of our country realize

their potential”. It aims to create and support programs that bring

about sustainable changes through education and the use of

technology and information.

Bharti Realty

Bharti Realty Limited is a young, vibrant and dynamic realty

company with expanding interests in commercial, retail and

residential real estate. Bharti Realty aims to be amongst the most

admired real estate players in India and aspires to attain highest

degree of customer trust through superior product design and

maintaining an uncompromising stand towards environmental

responsibility, ethics and safety

Bharti Infratel

Bharti Infratel, a wholly owned subsidiary of Bharti Airtel,

provides passive infrastructure services on a non-discriminatory

basis to all telecom operators in India. Bharti Infratel also holds

approximately 42% stake in Indus Towers, a joint venture between

Bharti, Vodafone and Idea to offer passive infrastructure services.

Bharti Enterprises

Bharti Airtel Ltd:

Bharti Airtel Ltd is India’s leading provider of

telecommunications service. The company has 4 distinct Business

divisions- mobile and telephone services, broadband services, long

distance services and enterprise services,

Bharti Teletech Ltd

Bharti Teletech Ltd manufactures and exports world-class telecom

equipment under the brand ‘Beetel’.

Telecom Seychelles Ltd

Telecom Seychelles ltd provides telecom services in Seychelles,

under the brand ‘Airtel’.

Bharti AXA Life Insurance

Bharti AXA Life Insurance is a joint venture between Bharti, one

of India’s 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.

Bharti Telesoft Ltd

Bharti Telesoft Ltd delivers best-in-class,

Revenue-critical Vas products and service to telecom carriers,

Tele Tech Service Ltd

Tele Tech Service (India) Ltd is Joint venture with Tele Tech Inc.,

U.S.A. It offers a range of Customer Management Services.

Field Fresh Foods Pvt Ltd

Field Fresh Foods Pvt Ltd is Bharti’s Venture with EL Rothschild

Group owned ELRO holding India Ltd., to export fresh Agricltural

products exclusively to markets in Europe and USA.

AXA

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 SA’s life insurance and wealth

management businesses in the Asia-Pacific region. 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.

Products of Bharti-AXA Life Insurance

Bright stars

This is a regular premium unit-linked insurance policy, which,

which offers you the twin benefits of protecting your loved ones

and creating wealth for them over the desired period.

As a caring parent, you want only the best for your child. As

your child grows, his aspirations will grow too and so will your

responsibilities. Whether it’s higher studies abroad, a grand

wedding or a comfortable home … you can now ensure that your

child is always one step ahead

You can fulfill all the dreams you have for your child, and give

him what he deserves. A bright future!

The plan also offers the flexibility to make modifications,

depending on the changing needs of your child. As his dreams

grow, the plan will grow too… so financial hurdles will never

come in the way of his growing dreams! With Bharti AXA Life

Bright Stars,

Spot suraksha

Introduction

Parameter EligibilityMinimum age at entry 18 yearsMaximum age at entry 70 years minus policy benefit period

chosen.

E.G: for policy benefit period of 17

years, the maximum age at entry is 53

years.Maximum age at

maturity

70 years

Minimum premium Rs.15,000 p.a. for annual & semi-

annual modes Rs18,000 p.a for

monthly modePremium modes Annual, semi-annual and monthlyPolicy benefit periods

available

7 years,10 years,15 years, 17 years and

20 yearsMinimum top-up

premium

Rs. 2,500

Spot Suraksha is a unit liked insurance product, which offers you

an instant insurance protection and benefit of wealth creation in the

long-term.

Main Advantages of Spot Suraksha

Understand the product:(Read and understand the product

brochure)

Answering the simple health related questions, Sign up the

simple application form, submit photograph, proofs for identity,

address and age.

A cover note is issued to policy holder and insurance cover starts

instantly.

100% allocation of premium- Full allocation of premium to the

Investment Fund, according to policy holder choice from 2nd year

onwards.

A guaranteed special addition equal to 130% of annualized

premium in the first policy year is added in the policy fund at

maturity or death, which is earlier.

PARAMETER ELIGIBILITY

Minimum age at entry 5 years

Maximum age at entry 55 years

Maximum age at maturity 70 years

Minimum premium Rs. 12,000 p.a

Premium Modes Annual, Semi-annual and

monthly

Policy term 15 years

Minimum top up premium Rs. 5,000

Dream life pension

Let you live your retired life king-size

This plan is made for old persons and to make them self

independent and live a life of dignity and self-respect. Today you

are busy climbing the ladder of success and realizing your dreams.

Today, time is with you. Just take a moment and think.

The bharti AXA Life Dream life pension gives you:

A post retirement income for life.

Policy holder choose the age at which he/she would like to retire

(vesting age), which determines your premium paying term.

Alternatively you can opt for single premium payment.

PARAMETER ELIGIBILITY

Minimum age at entry 18 years

Maximum age at entry 70 years

Minimum age at vesting

Maximum age at vesting

45 years

80 years

Premium modes Single pay, yearly, Half-

yearly ,Quarterly and monthly

Minimum premium Annual Regular Premium:

Rs.12, 000p.a.

Minimum policy term 10 years

Minimum top-up premium Rs.2, 500 and no maximum

limit on top-up premium and

top up allowed only after first

policy year.

MERIT PLUS

This is a regular premium unit-linked insurance policy which

offers you the twin benefits of protection against financial loss in

the unfortunate event of the death and helping you to create wealth

systematically over the long-term. Hence this product is suitable

for your long-term objective like retirement planning, children’s

future and giving a total protection to you and your family.

PARAMETER ELIGIBILITY

Minimum age at entry 0 year

Maximum age at entry 60 years (For death benefit

option A)

55 years (For death benefit

option b)

Maturity age 80 years (for death benefit

option A)

75 years (for death benefit

option B)

Policy benefit period 80 year less age at entry (for

death benefit option A)

75 years less age at entry (For

death benefit option B)

Premium payable period Yearly, Half-Yearly And

Monthly

Minimum premium Rs.10,000

Minimum Top-up premium 500

Benefits of Bharti AXA Life merit plus

In merit plus the policy holder must have to choice one option out

of the two.

1.Sum assured(less all partial withdrawals made form the basic

policy fund during the 12 months prior to the date of death of life

assured) or the policy Fund Value as on the date of intimation of

death, which is higher, will be paid.

2.The sum of sum assured and the policy fund value as on the date

of intimation of death will be paid.

Future confident

Future confident is a suitable product for you, if your objective is

long-term targeted wealth creation over 15-20 year, either for your

own retirement or for your children’s future, while at the same

time providing your family enhance financial protection.

PARAMETER ELIGIBILITY

Minimum age at entry 0 year

Maximum age at entry 60 years

Maturity age 70 years

Policy benefit period 70 year less age at entry

Premium payable period Yearly, Half-Yearly, quarterly

and Monthly

Minimum premium Rs.10,000 for yearly, 5,000 for

half-yearly 2,500 for quarterly

and Rs.834 for monthly

premium

Minimum Top-up premium 500

Secure Confidence

Provide complete financial protection to your family, even when

you are not there.

Secure confident is suitable to you if your objective is to protect

your family against any financial loss caused due to unfortunate

death, disability due to an accident or critical illnesses which may

deprive them of a secured future.

Parameter Eligibility

Minimum age at entry 18 years

Maximum age at entry 55 years

Minimum sum assured Rs.5 ,00,000

Minimum premium RS.1,500 for yearly,Rs.780 for

half-yearly, Rs.405 for quarterly

and Rs.135 for monthly

premium

Policy benefit period 5,10,15,20 and 25 years

Maximum age at maturity. 60 years

Premium paying term Equal to the policy benefit

period.

On death On survival

A sum assured is paid to the

policy holder or nominee and

the policy shall be terminated.

The policy shall be terminated

and no monies shall be payable

to the policy holder.

Introduction of the process of

Recruitment of Life Advisers

Objectives of the study

To understand the process of RECRUITMENT OF LIFE

ADVISERS in Bharti AXA life insurance.

How to recruits agent for Bharti-AXA life insurance

To know about the view of general public about the job of agent

Why people are not willing to work with as an agent, especially

with private player.

Meaning of Recruitment

Finding the right people is a make-or-break factor for success in

business today. Recruiting the top talent for a job takes time and

you have to attract quality candidates who have the knowledge and

skills needed to help your company grow.

The fact is, your success with recruitment depends on how well

you prepare your job ad, and use source of recruitment, and your

interviewing skills.

Prepare a job ad that works to start, you want to be sure that your

potential candidate truly understands the job. The clearer you are

with the task description, working conditions and advantages, the

less time you will waste examining and rejecting applications

The essentials of any job description are:

A brief description of your company

Detailed outline of the tasks involved

Qualifications and experience required

Equipment and resources used to do the work

Skills required using them.

However, you should also include work benefits (e.g., vacation,

travel and perks), general working conditions (e.g., scheduling,

outside work) and the specific traits required (e.g.,

teambuilding and communications skills). Ultimately, you want to

be perceived as an attractive employer in a competitive market.

Find the right recruitment vehicle choose the vehicle that best

works for your company, depending on your budget and resources.

Word of mouth, or simply telling your employees, friends and

colleagues about a job opening, is a less expensive strategy but

generates fewer candidates. The advantage is that you already

know something about your recruiters and their skills, knowledge

and achievements. This is a preferred method with companies that

have a finder's fee program for their employees.

Advertising is a toss of the dice. If it goes well, it can help you find

ideal candidates in a regional, national, or international pool. If not,

it's a costly investment yielding few results. Make sure to factor in

the time it takes to go through

a large number of resumes.

Employment agencies cost more but generally provide a good

range of candidates. The employment advisors look at your needs,

screen a number of candidates, and only send you the applications

that meet your requirements. Bear in mind that the largest

employment agencies do not necessarily offer the best choice of

candidates. There are numerous agencies that specialize in

recruitment in specific sectors.

Recruiting online such as monster.ca, workopolis.com, and

jobboom.com. These can provide inexpensive, worldwide access to

employees. In fact, 65% of job seekers now have access to these

types of services.

Using the Internet for recruiting usually involves regular visits to

specialized recruitment sites, joining newsgroups, and posting your

job openings on recruitment sites, electronic publications and on

your own Web site.

After recruitment the next part is selection of best candidates.

Make the interview deliver

Since the purpose of an interview is to identify and verify the

candidate's potential, it should be structured to bring out all the

desired competencies and aptitudes. Remember that you have to

decide between the candidates: you could create a point system or

analysis grid for comparing their strengths and weaknesses.

Here are a few points to consider when structuring an interview:

Make a list in advance of the points for discussion and

corresponding questions.

Present the candidates with a situation they could face on the

job and ask them how they would react. This will enable you to

evaluate the candidates' knowledge, skills and work methods.

Ask the candidates to describe some difficult situations

encountered in previous jobs and to explain the way in which

they were resolved. This will give you the chance to gauge the

candidates' self-confidence, creativity and problem-solving

skills.

Ask the candidates to describe a difficult situation involving

colleagues and how it was resolved. This will enable you to test

their aptitude for teamwork.

Ask the candidates about their ambitions and plans to ensure

they fit your company profile.

Beware of asking questions about personal interests. They can get

the interview off track or annoy people who want to keep their

work and private lives separate.

Definition of Agent

According to section 182 of Indian contracts Act, an “agent” is a

person employed to do any act for another or to represent

another in dealing with a third person. In the insurance industry,

the term “agent” is ordinarily applied to a person engaged by the

insurer to procure new business. The insurance Act definers and

insurance agent as one who is licensed under Section 42 of that

Act and is paid by way of commission or otherwise, in

consideration of his soliciting of procuring insurance business,

including business relating to the continuance, renewal or revival

of policies of insurance. He is, for all purposes, an authorized

salesman for insurance and needs a license.

An agent is one who acts on behalf of another. The “another” on

whose behalf the agent acts, is called the principal in this case.

The insurance company is the principal in this case. The lawyer

is the agent of the client, when he argues the case in court. An

ambassador is an agent of his country. The agent represents the

principal and acts on his behalf. Some insurers designate their

agents as ‘advisers”,” consultants” etc. as if they are independent

advisor or consultant would not be appointed by an insurance

company. He would be knowledgeable enough as a person to be

approached for advice or consultation. Some insurance agents

may acquire that status. All insurance agents should strive to

attain that status.

Procedure for becoming an Agent

The insurance Act, 1938 lays down that an insurance agent must

possess a licence under Section 42 of that Act. The licence is to be

issued by the IRDA. The IRDA has authorized designated persons,

in each insurance company, to issue the licences on behalf of the

IRDA.

In terms of the Insurance Act, a licences will not be given if the

person is

(a) minor,

(b) found to be of unsound mind,

(c) found guilty of criminal misappropriation or criminal

misappropriation or criminal breach of trust or cheating or

forgery or an abetment of or attempt to commit any such

offence

(d) found guilty of or knowingly participation in or conniving

at any fraud, dishonesty or misrepresentation against an

insurer or an insured,

(e) not possessing the requisite qualifications and specified

training,

(f) Found violating the code of conduct as specified in the

regulations.

(g) The fee for a licence is Rs.825 for individual. A licence is

granted for 3 years. It may be renewed after 3 years and

again valid for 3 years.

A licence issued by the IRDA may be to act as an agent for a life

insurer, for a general insurer or as a composite insurance agent

working for a life insurer as sell as a general insurer. No agent is

allowed to work for more than one life insurer or more than one

general insurer.

The Qualifications necessary before a licence can be given are that

the person must be

(a) Not a minor.

(b) Have passed at least the 12th standard or equivalent

examination, if he is to be appointed in a place with a

population of 5,000 or more. (10th standard otherwise.)

(c) Have undergone practical training for at least 50 hours in

life or general insurance business, as the case may be,

form an institution, approved and notified by the IRDA.

IN the case of a person wanting to become a composite

insurance agent, the applicant should have completed at

least 75 hours practical training in life and general

insurance business, which may be spread over six to eight

weeks.

d) Have passed the pre-recruitment examination conducted by

the insurance institute of India or any other examination

body authorized by the IRDA.

The licence once issued, can be cancelled whenever the person

acquires a disqualification. Applications for renewal have to make

at least thirty days before the expiry of the licence, along either the

renewal fee of Rs.250. If the application is not made at least thirty

days before the expiry, but is made before the date of expiry of

licence, an additional fee of Rs.100 is payable . If the application is

made after the date of expiry, it would be normally being refused.

Prior to renewal of the licence, the agent should have completed at

least 25 hours practical training in life or general insurance

business or at least 50 hours practical training in life and general

insurance business in the case of a composite insurance agent.

Insures who select agents for appointment, make arrangements for

training, for appearing in the prescribed examinations, and

obtaining the licence.

NOTE

The insurance Act provides, In Section 44, for payment of

commission on renewal premium even after termination of the

agency. The commission will be limited to a rate not exceeding

4%, to be eligible for this; the agent should have been an agent

with that insurer for at least

(1) five years and policies for at least Rs50,000 are in force

one year before termination of agency or,

(2) 10 year.

This commission will be payable to the heirs of the agent after the

agent’s death.

FUNCTION OF AN AGENT

Understanding the prospect’s needs and persuade him to buy

a plan of life insurance that suits his interests best.

Complete the formalities:- paper work, medical examination,

which are necessary to get the policy expeditiously.

Keep in touch to ensure that changing circumstances are

reflected in the arrangements relating to premium payments,

nomination and other necessary alterations.

Facilitate quick settlement of claims.

Be totally honest with both the prospect and the insurer.

Not to induce prospects to submit wrong information.

Career with Bharti AXA

Opportunity to earn unlimited income.

Career Growth.

Be your own boss.

High quality training & Support to improve productivity.

Compensation amongst the best.

Club member benefits.

Payout structured to facilitate your cash flows better.

Best in class & competitive products.

Pension for life.

Recruitment Process

Develop a Profile

Develop sources of recruitment

Approaching the Targeted recruits

Initial screening and Interviews

Reality check

Sources of Recruitment

Controlled Uncontrolled

Natural Market

Central of Influence

Agent gets Agents

Job Ads/Inserts

Placement Consultants

Presentation / Seminar

Cold Prospecting

Data Base

Primary Secondary

Controlled Market

Natural market

Your family

Your friends

People at job/business

Neighbors

Extended Natural market

The following are sources of names:

People know through children.

People know through spouse.

People know through hobbies/ games.

People known through social groups

People known through public service.

People you do business with.

Friends of friends.

CENTRE OF INFLUNCE

People with influence and prestige, other member of society

believe and faith on them.

People who have a big circle of relationships: like secretary in

societies, president of an association.

People who are known to you and are wiling to help you.

People who have contacts with the class of people you want to

deals with.

People who have faith in your leadership.

A centre of influence is a person who is in contact with many

people through social, political, religious or business

angulations

Usually a respected individual with influence over the people

with he/she is in contact.

Uncontrolled Sources

Job Ads/Inserts

This program should be on regular long range basis.

Example: Navajeevan sharma who is a relationship officer in

bhrati AXA Life Insurance company put an ad in the

newspaper, in which he called for the reader to phone him

during a specified 2 to 4 hours period on Monday or Sunday

morning

From those who called Navjeevan Sharma was able to eliminate

more misfits (who are not qualified) and arrange for two to six

personal visits.

Placement consultants

MOA can recruit a placement consultant or register him self in

internet job search sites to get list of prospects.

Seminars/job fairs

Manager of agency can also organized seminars at

management institutes and colleges.

OR

Bharti AXA life insurance company participate in the job fairs

and then short list

prospects and then look for further opportunities for them.

Cold Prospecting

MOA can use the telephone directory.

MOA and telecaller can use the directories of various business

and social organizations.

Database

Primary data: Direct collection of data of from the source of

information, technology including personal interviewing, survey

etc.

Secondary Data: Indirect collection of data from sources can

be purchased from the open market and various kind of database

are available such as telephone databases of various surveys.

Point to be noted while recruiting the Agents

Mature and responsible family person.

Ambitious, hungry for recognition, challenges.

Occupation.

Experience and current designation.

For how many years he is living in the city.

Greedy person.

Occupation of parent.

Family income.

Any experience in life insurance sector.

Leadership qualities.

Social and amiable.

Sources for RECRUITMENT OF LIFE ADVISERS

used during Training

Secondary Data (Telephone Directory)

Natural Market Market Survey

Telephone Script

Hello sir,

I am Paramjit Singh from Bharti AXA. I want your few minute to

speak.

Sir, Bharti AXA is going to expend the Business by recruiting

quality people and offering them the potential of a very rewarding

career opportunity.

We have acquired your business card and we are aware of the

company you work for and you are one of the selective person with

whom our company want to concern.

So I would like to meet you for coffee to explain the exciting and

rewarding opportunity. It may have for you in terms of career

compensation and support..

(Excellent I look forward to meeting you please May I have your

address and I will confirm our meeting in writing)

OR

(According to your convenience will you please tell me when and

where we can meet?)

Thank You Sir.

Step 1. Documents Required

Age proof.

Address proof.

Photo – 8.

Education proof.

Q score sheet.

Agency application.

Form V A.

Fill NAAF.

Step 2. Interview section

During the interview the senior manager/MOA asked following

question to the candidate to judge his ability and knowledge.

Qualification.

Present occupation.

Knowledge or experience in insurance sector

Tenor of stay in the town.

Number of family member.

Household income.

Occupation of parent.

If selected then the senior manager/MOA approve the application.

The managers take the help of scoring Mechanism. Scoring

Mechanism was filled at the time of apply.

Age Below 25

years

Between

25-40

More than

40

Score

Scoring

mechanism

0 2 1

Marital

status

Unmarried married

1 2

Education 10th

standard or

12th

standard

graduate Post

graduate

1 2 2

Tenor of

stay in

city/town

Less than 3

years

3-5 years More than

5 years

0 1 2

Household

income

Less than 2

lakhs

2-5 lakhs More than

5 lakhs

Total score

Q Score:

Acceptable Range of Score Greater than or equal to 7

Additional Approvals 5 or 6

Rejected application if 4 or less

If the Q score is less than 7 then BSM/ARSM comments and

signatures are required.

Step 3. Training

50 Hours Training and also provide a text book (IC-33 life

insurance) for pre-recruitment Examination for Life Insurance

Agents, which is based on syllabus prescribed by insurance

Regulatory & Development Authority.

IRDA for short, has laid down that those who wish to become

insurance agents will be given licenses only after they complete a

course of study, training and pass an examination prescribed by it.

During this training the knowledge about the entire essential

concept related to life insurance is provided to agent. Insurers will

have different practices and offer different benefits in their plans.

All of them will be based on these concepts. The details of the

practices and the plans of each insurer will have to be learnt from

the respective insures.

Step 4. During training following things will be teaches.

What is insurance

Principles of life Assurance

Premiums and Bonuses

Life Insurance products

Underwriting

Insurance Documents

Policy conditions

Claims

Linked life insurance products

Insurance agency

Laws and Regulations

IRDA Regulation 2000.

IRDA Regulation 2002.

Step 5. Examination and Code

Examination is the second last part of the recruitment and selection

process.

It include one hour test under, which contain 50 objective

questions, one marks each,

Pass marks are 25.

There are two method of examination.

Online

Manual

In case of online the result is declared on the spot and in the case

of manual result is declared within one month.

After clearing the exam, ULIP training of two days will be given to

the advisor about the product of company and then agency code is

generated.

OBJECTIVES

AND

RESEARCH METHODOLGY

Objectives of the study

To understand the process of RECRUITMENT OF LIFE

ADVISERS in Bharti AXA life insurance.

How to recruits agent for Bharti-AXA life insurance

To know about the view of general public about the job of

agent

Why people are not willing to work with as an agent,

especially with private player.

Research Methodology

Research Methodology is the investigation of specific problem in

detail. At first problem is defined carefully for conducting

research. There should be a good research plan for conducting

research. No research can be done without data collection. After all

this analyze is made for getting solution for problem.

Defining the problem

Defining the sampling plan

Collection of data

Analyze and interpretation

Defining the problem

Defining the research problem is first necessary step for any

research. This work should be done carefully. Here research

problem is to know wiliness of general public to work as an agent

with private player or Bharti-AXA life insurance.

Sampling plan

The sampling plan calls for three decisions.

A) Sampling Unit: I have completed my survey in

CHANDIGARH, MOHALI.

B) Sample Size: The selection of 20 respondents. The sample was

drawn from shopkeepers. The selection of the respondent was done

on the basis of simple random sampling.

C) Contract methods

I have conduct the respondent through personal interviews

Research Instrument

A close friend questionnaire was constructed for my survey.

Questionnaire consisting of a set of questions made to filled by

various respondents.

Collecting the Information

After this, I have collected the information from the respondent

with the help of questionnaire.

Analyze the Information

The next step is to extract the pertinent finding from the collected

data. I have tabulated the collected data & developed frequency

distributions.

Thus the whole data was grouped aspect wise and was presented in

tabular from. Thus, frequencies & percentages were to reder

impact of the study.

Presentations of Findings

This was the last stop of the survey.

Data Presentation and Interpretation

Name: - Address:-

Location:-

Mobile no.

Shop Type:- (Mobile stores, General store, Chemist etc. Please

specifyScript

Bharti has expanded into new territories of business and

they now offer the best

in class insurance products. This new venture is named

Bharti-AXA.

Mr. Sunil Bharti mittal is introducing insurance to Punjab

and Chandigarh retailers and would like to give you an

opportunity to earn and setup a new income which can give

you 15-20% margin on an average.

In this business you only have to contact your known people

or regular customers and their references to introduce

Bharti’s product and get an appointment.

Post this, manager form Bharti-AXA will go, explain the

product & close he sale for you. You will in turn receive 15-

20 % margin on sale. E.g. if a policy is sold by Bharti-AXA

manager for 10,000 you will receive 2,000.

We are here to understand your interest in this proposal

specially designed by Mr. Sunil Bharti Mittal for Punjab and

Chandigar

1) Would you be interested in taking up this business opportunity

with Bharti?

Yes No

8, 20%

32, 80%yes

no

Only 20% shopkeepers were interested in taking up this

business opportunity with Bharti.(8 shopkeeper were

interested in this activity)

2) How much time can you dedicate per day for this activity?(For

getting Appointments)

½ hr 1-2 hrs 3-h hrs 5 hrs or more

6,75%

2,25%half hour

1/2 to 2

2 to 4

4 to 5

From the above 8 people , 6 people said that they can spend

½ hour for this activity daily.

2 said that they can spent ½ to 2 hours for this activity.

3) Do you have any knowledge of or experience in Insurance?

Yes No

8, 20%

32, 80%

no yes

80% of shopkeeper said that they have knowledge about

insurance.

20% of shopkeeper said that they have no knowledge about

insurance.

4) Do you have Experience as an agent?

Yes No

6, 15%

34, 85%

yes

no

15% of shopkeepers have experience in the field of life

insurance.

85% of shopkeepers have no experience in the field of life

insurance.

If yes, then please specify the name of the company.

3,50%2, 33%

1, 17%LIC

HDFC

ICICI

Out of 6 people 33%(3) of shopkeeper working with LIC

33% (2) of shopkeeper working with HDFC Standard Life

insurance

33% (1) of shopkeeper working with ICICI Prudential Life

Insurance Co. Ltd.

5) Can you spare 1/2 day on training to understand to product and

how can introduce it to your customer? Yes NO

4; 10%

36; 90%

Yes

no

10 % of shopkeepers were interesting to spare 1/2 day on training

to understand to product.

Name: - Address:-

Location:-

Mobile no.

Shop Type:- (Mobile stores, General store, Chemist etc. Please

specify

QUESTIONNAIRE

1) Would you be interested in taking up this business

opportunity with Bharti?

Yes No

2) How much time can you dedicate per day for this activity?

(For getting

Appointments)

½ hr

1-2 hrs

3-h hrs

5 hrs or more

3) Do you have any knowledge of or experience in Insurance?

Knowledge

Yes

No

Experience

Yes

No

If yes, then please specify the name of the company.

4) Can you spare ½ day on training to understand the product

and how can introduce it to your customer?

Yes

No

5) How many people do you know in this city?

Under 50

51-100

101-300

301-600

Above 600

Limitation

I didn’t get complete feed from the shopkeepers about the

question as they are busy in there work and had less time to fill

questioned.

Sincerity of answering the questions cannot be judged.

Time was the major constraint for me to understand the long

process of recruitment and selection.

Limited money available for project.

Finding

Why people are not ready to work with private players in life

insurance?

Or

Why people are not ready to work as an agent in any

company?

In these days LIC created a very well image in the mind of

General public because it is semi Government Company and

also an oldest company. In short most people of Indian believe

upon the LIC only.

During the training period we felt that most of people who are

already working in insurance sector think that it is easy to sell

the product of LIC than to sell the product of other life

insurance company.

Most of people say that this job affects upon there social

relation with other and also effect upon there business.

Most of people believe that private insurance companies carried

out fraud activity that’s why they never believe upon the private

players.

People think that it is a time consuming activity and also

required huge market skills.

Some people said that only greedy people like to work in

insurance sector.

Because of three days compulsory training.

Conclusion

In India, there is throat cut competition in the market of life

insurance that brand service which adopt new strategies for sales. I

concluding the whole story it can be said that people are much

more aware about the aspects of life insurance and also have

knowledge about the role and act of agent but mostly people

unwilling to work as life insurance agent and mostly people prefer

to work with LIC because it is a semi government corporation.

Suggestions

Bharti-AXA life insurance company must give more

advertisements on electronic media and print media, as it help in

enhance its goodwill and more people are willing to work with

reputed companies, through proper advertisement it become easy

to sell the product.

An insurance company must work with honesty to win the

confident of its agent and general public.

Duration of training must be reducing as in these day people have

no extra time.

Fees charged by companies from candidate for IRDA exam and

training should reduce.

Many other extra facilities must be provide to agent to attract them

such local and foreign trips, special price on achieving a target,

open bank account at free of cost,

Bharti-AXA Life Insurance Company must organize more and

more seminars and also participate in the job trade fairs to find out

more candidates.

Increase the commission of agents.

Company must relic to candidate or other people that they are

doing a social service for the welfare of society.

Better career opportunity must be provided to an adviser, such as

on role job, promotion etc.

A special function must organize time to time in which the special

prizes distribute among those agent who perform well.

The duration of the process of recruitment and selection is too long

(one and half month), during this process mostly candidate loss

there interest, so there is an urgent need to reduce the duration of

this period.

Reduce the minimum premium amount it will help company to

attract the agent of other company, as it increases the scope of

market of its agent.

BIBLIOGRAPHY

S. Balachandran, (2009), IC-33 Life Insurance, Shri S.J Gidwani

Publishers, Mumbai

www.irdaindia.org

www.bhart-axalife.com

www.wikipedia.org

www.ibef.org

The opportunity

About 2/3 of the Indian population is ‘insurable”

High % of population is uninsured or underinsurance.

We Indian are “natural savers”

Indians save the maximum in the world.

Those ‘insured’ are ‘underinsured’.