Académique Documents
Professionnel Documents
Culture Documents
Submitted By
TANU SHARMA
Roll No. M0957 Batch No. 2009-2011 (MBA IIIrd Sem.)
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TABLE OF CONTENT
EXECUTIVE SUMMARY
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This Report is an attempt to provide a detailed analysis of the process of training
& development program done by Bharti Axa Life Insurance and benefits of the training.
In my survey I found that 80% of employees are new to the job and they must
undergo the training program.
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CHAPTER-1
INTRODUCTION
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BRIEF HISTORY OF INSURANCE SECTOR IN
INDIA
The insurance sector in India has come a full circle from being an open competitive
market to nationalization and back to a liberalized market again.
Tracing the developments in the Indian insurance sector reveals the 360-degree turn
witnessed over a period of almost 190 years.
The business of life insurance in India in its existing form started in India in the year
1818 with the establishment of the Oriental Life Insurance Company in Calcutta.
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.
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Some of the important milestones in the general insurance business in India are:
1907 - The Indian Mercantile Insurance Ltd. set up, the first company to transact all
classes of general insurance business.
1957 - General Insurance Council, a wing of the Insurance Association of India, frames a
code of conduct for ensuring fair conduct and sound business practices.
1968 - The Insurance Act amended to regulate investments and set minimum solvency
margins and the Tariff Advisory Committee set up.
1972 - The General Insurance Business (Nationalization) Act, 1972 nationalized the
general insurance business in India with effect from 1st January 1973.
107 insurers amalgamated and grouped into four companies viz. the National Insurance
Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company
Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.
Learn about Insurance may be described as a social device to reduce or eliminate risk
of life and property. Under the plan of insurance, a large number of people associate
themselves by sharing risk, attached to individual.
The risk, which can be insured against include fire, the peril of sea, death, incident, &
burglary. Any risk contingent upon these may be insured against at a premium
commensurate with the risk involved.
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Insurance is actually a contract between 2 parties whereby one party called insurer
undertakes in exchange for a fixed sum called premium to pay the other party happening
of a certain event.
Insurance is a contract whereby, in return for the payment of premium by the insured, the
insurers pay the financial losses suffered by the insured as a result of the occurrence of
unforeseen events.
With the help of Insurance, large number of people exposed to a similar risk makes
contributions to a common fund out of which the losses suffered by the unfortunate few,
due to accidental events, are made good.
Functions of Insurance
Primary Functions
Secondary Functions
Other Functions
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Collective bearing of risk - Insurance is a device to share the financial loss of few among
many others. Insurance is a mean by which few losses are shared among larger number of
people. All the insured contribute the premiums towards a fund and out of which the
persons exposed to a particular risk is paid.
Small capital to cover larger risks - Insurance relieves the businessmen from security
investments, by paying small amount of premium against larger risks and uncertainty.
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The other functions of insurance include the following:
Means of savings and investment - Insurance serves as savings and investment, insurance
is a compulsory way of savings and it restricts the unnecessary expenses by the insured's
For the purpose of availing income-tax exemptions also, people invest in insurance.
Risk Free trade - Insurance promotes exports insurance, which makes the foreign trade
risk free with the help of different types of policies under marine insurance cover.
The end of the year 2000 marks a significant change and growth of 'India Insurance'
industry scenario. Monopoly of Public Sector Insurance company marks an end and
Private companies makes inroad. Foreign companies, both Life and General flocked,
collaborated and helped astronomical growth of 'Insurance Industry in India'.
'India Insurance' growth was long overdue. Within 1st 12 months of liberation of 'Indian
Insurance Industry' 10 licenses for selling life insurance products and 6 licenses for
selling non-life products were issued to private companies. The Public sector giant LIC
started losing its market share at the cost of stupendous growth of private players. Now
'India Insurance' industry has more than a dozen private life insurance players and 9
private general insurance companies. Aggressive and penetrative marketing strategy
coupled with wide product bandwidth was an instant success among the ignorant masses.
Most of the private companies registered more than 100% growth till then and are still
continuing with such monstrous growth figures. Although, 'Insurance in India' is not
regarded as a basic need but it is getting popular among semi urban to rural masses. Top
rank private companies like ICICI Prudential Life Insurance, Tata AIG, Bajaj Allianz etc
are aggressively researching and innovating products for huge untapped rural 'India
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Insurance' market. Collaboration with micro finance companies, post offices, rural banks
and village management authorities for selling insurance is doing wonders.
Life insurance products cover risk for the insurer against eventualities like death
or disability. Non-life insurance products cover risks against natural calamities, burglary,
etc. They are not as popular as life products in the ' Insurance India's' portfolio. Until very
recently it had only corporate buyers, but with natural disasters like, earth quakes,
tsunamis, storms and floods becoming more frequent and damaging there has been a
sudden spurt in sales of general insurance amongst individuals. Consumerism of life style
goods and modern amenities has also contributed to its growth. With more awareness and
wide bandwidth of insurance product portfolio the growth for 'India Insurance' story will
only get more competitive and more affordable to all sections of Indian society.
Present Scenario
The Government of India liberalized the insurance sector in March 2000 with the passage
of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry
restrictions for private players and allowing foreign players to enter the market with some
limits on direct foreign ownership. Under the current guidelines, there is a 26 percent
equity cap for foreign partners in an insurance company. There is a proposal to increase
this limit to 49 percent.
The opening up of the sector is likely to lead to greater spread and deepening of insurance
in India and this may also include restructuring and revitalizing of the public sector
companies. In the private sector 12 life insurance and 8 general insurance companies
have been registered. A host of private Insurance companies operating in both life and
non-life segments have started selling their insurance policies since 2001.
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Non-Life Insurance Market
With a large capital outlay and long gestation periods, infrastructure projects are
fraught with a multitude of risks throughout the development, construction and operation
stages. These include risks associated with project implementation, including geological
risks, maintenance, commercial and political risks. Without covering these risks the
financial institutions are not willing to commit funds to the sector, especially because the
financing of most private projects is on a limited or non- recourse basis.
Insurance companies not only provide risk cover to infrastructure projects, they
also contribute long-term funds. In fact, insurance companies are an ideal source of long
term debt and equity for infrastructure projects. With long term liability, they get a good
asset- liability match by investing their funds in such projects. IRDA regulations require
insurance companies to invest not less than 15 percent of their funds in infrastructure and
social sectors. International Insurance companies also invest their funds in such projects.
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Insurance costs constitute roughly around 1.2- 2 percent of the total project costs.
Under the existing norms, insurance premium payments are treated as part of the fixed
costs. Consequently they are treated as pass-through costs for tariff calculations.
Premium rates of most general insurance policies come under the purview of the
government appointed Tariff Advisory Committee. For Projects costing up to Rs 1
Billion, the Tariff Advisory Committee sets the premium rates, for Projects between Rs 1
billion and Rs 15 billion, the rates are set in keeping with the committee's guidelines; and
projects above Rs 15 billion are subjected to re-insurance pricing. It is the last segment
that has a number of additional products and competitive pricing.
Of late, with IPP projects fizzling out, the insurance companies are turning once
again to old hands such as NTPC, NHPC and BSES for business.
Re-insurance business
Insurance companies retain only a part of the risk (less than 10 per cent) assumed by
them, which can be safely borne from their own funds. The balance risk is re-insured with
other insurers. In effect, therefore, re-insurance is insurer's insurance. It forms the
backbone of the insurance business. It helps to provide a better spread of risk in the
international market, allows primary insurers to accept risks beyond their capacity, settle
accumulated losses arising from catastrophic events and still maintain their financial
stability.
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While GIC's subsidiaries look after general insurance, GIC itself has been the
major reinsurer. Currently, all insurance companies have to give 20 per cent of their
reinsurance business to GIC. The aim is to ensure that GIC's role as the national reinsurer
remains unhindered. However, GIC reinsures the amount further with international
companies such as Swissre (Switzerland), Munichre (Germany), and Royale (UK).
Reinsurance premiums have seen an exorbitant increase in recent years, following the
rise in threat perceptions globally.
The Life Insurance market in India is an underdeveloped market that was only
tapped by the state owned LIC till the entry of private insurers. The penetration of life
insurance products was 19 percent of the total 400 million of the insurable population.
The state owned LIC sold insurance as a tax instrument, not as a product giving
protection. Most customers were under- insured with no flexibility or transparency in the
products. With the entry of the private insurers the rules of the game have changed.
The 12 private insurers in the life insurance market have already grabbed nearly 9
percent of the market in terms of premium income. The new business premiums of the 12
private players has tripled to Rs 1000 crore in 2002- 03 over last year. Meanwhile, state
owned LIC's new premium business has fallen.
Innovative products, smart marketing and aggressive distribution. That's the triple
whammy combination that has enabled fledgling private insurance companies to sign up
Indian customers faster than anyone ever expected. Indians, who have always seen life
insurance as a tax saving device, are now suddenly turning to the private sector and
snapping up the new innovative products on offer.
The growing popularity of the private insurers shows in other ways. They are
coining money in new niches that they have introduced. The state owned companies still
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dominate segments like endowments and money back policies. But in the annuity or
pension products business, the private insurers have already wrested over 33 percent of
the market. And in the popular unit-linked insurance schemes they have a virtual
monopoly, with over 90 percent of the customers.
The private insurers also seem to be scoring big in other ways- they are
persuading people to take out bigger policies. For instance, the average size of a life
insurance policy before privatization was around Rs 50,000. That has risen to about Rs
80,000. But the private insurers are ahead in this game and the average size of their
policies is around Rs 1.1 lakh to Rs 1.2 lakh- way bigger than the industry average.
Buoyed by their quicker than expected success, nearly all private insurers are fast-
forwarding the second phase of their expansion plans. No doubt the aggressive stance of
private insurers is already paying rich dividends. But a rejuvenated LIC is also trying to
fight back to woo new customers.
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THE INSURANCE REGULATORY AND
DEVELOPMENT AUTHORITY (IRDA)
Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in
Parliament in December 1999. The IRDA since its incorporation as a statutory body in
April 2000 has fastidiously stuck to its schedule of framing regulations and registering
the private sector insurance companies.
The other decisions taken simultaneously to provide the supporting systems to the
insurance sector and in particular the life insurance companies were the launch of the
IRDAs online service for issue and renewal of licenses to agents.
The approval of institutions for imparting training to agents has also ensured that the
insurance companies would have a trained workforce of insurance agents in place to sell
their products.
Since being set up as an independent statutory body the IRDA has put in a framework of
globally compatible regulations. In the private sector 12 life insurance and 6 general
insurance companies have been registered.
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INSURANCE COMPANIES
IRDA has so far granted registration to 12 private life insurance companies and 9 general
insurance companies. If the existing public sector insurance companies are included,
there are currently 13 insurance companies in the life side and 13 companies operating in
general insurance business. General Insurance Corporation has been approved as the
"Indian reinsurer" for underwriting only reinsurance business. Particulars of the life
insurance companies and general insurance companies including their web address are
given below:
Public Sector
Life Insurance Corporation of India www.licindia.com
Private Sector
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Max New York Life Insurance Co. Limited www.maxnewyorklife.com
GENERAL INSURERS
Public Sector
National Insurance Company Limited www.nationalinsuranceindia.com
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Private Sector
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1.2 OBJECTIVES
The main objective of doing this project is to study employee attitude regarding the
training program and the benefits of the training program. During this student internship
program period I have to achieve something which is helpful to the development of
myself and some value addition to the company. Getting more business to the company
because of training program is the main objective. It gives me good exposure of myself
and creating good impression of corporate mind.
The main objective of this study is to know the employee opinion regarding the
Training & Development program.
To find out what is the Training & Development needs in concern area.
To find out the benefits of the Training & Development program to the employee
and to the organization.
To find out what is the result for the organization because of giving the Training &
Development to the employees.
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1.3 RESEARCH METHODOLOGY
The Research and Methodology adopted for the present study has been systematic
and was done in accordance to the objectives set which has been detailed as below.
Research Definition
Research is a process in which the researcher wishers to find out the end result for
a given problem and thus the solution helps in future course of action.
According to Redman & Mory research is defined as a Systemized effort to gain
new knowledge.
Research Design:
According to Claire Seltiz, a research design is the arrangement of
condition and analysis of data in manner that aims to combine relevance to the research
purpose with economy in procedure.
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1.3.3 DETERMINING SOURCES OF DATA
Secondary Data: It consists of information that already exists somewhere and has
been collected for some specific purpose in the study. The secondary data for this study is
collected from various Japanese Management books.
1.3.4 QUESTIONNAIRE
Questionnaire Development:
Questionnaire is the most common instrument in collecting primary data.
In order to gather primary data from viewers.
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Multiple choice questions
Ranking question.
Open ended questions: It has no fixed alternatives to which the answer must
conform. Thus, respondent answer in his/her own words at any length they choose.
Closed ended questions: Closed ended questions have no other options other than
the selecting the one that close matches the respondents opinion or attitude.
Multiple Questions: A multiple choice question refers to one, which provides several
sets of alternatives for the respondents choice.
Ranking questions: These questions are given when there are many points to be
considered and to be ranked in priority.
1.3.5 LIMITATIONS
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CHAPTER-2
PROFILE OF ORGANIZATION
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COMPANY PROFILE OF BHARTI AXA
Bharti AXA Life Insurance is a joint venture between Bharti, one of Indias leading
business groups with interests in telecom, agri business and retail, and AXA, world leader
in financial protection and wealth management. The joint venture company has a 74%
stake from Bharti and 26% stake of AXA.
The company was incorporated on 13th July 2007. Headquartered in Bangalore, the
company currently has 30 branches across India. With a vision 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 and develop 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 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.
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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 AXA globally 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.
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THE JOINT VENTURE OF 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 60 million 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,
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world leader in financial protection and wealth management. Bharti has recently forayed
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
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 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-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.
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GROUP SITES
Airtel
Bharti Resources
Bharti Foundation
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To achieve a market position among the top 5 in India through a multi-
distribution, multi-product platform
To adapt AXA's best practice blueprints as a sound platform for efficient and
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
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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.
Strong partner Bharti - provides access to customer base of more than 130 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
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HR PRACTICE
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MANAGEMENT PROFILE
Glenn Williams is the Chief Executive Officer and Managing Director for Bharti AXA
Life Insurance Co. Ltd. Prior to this, he was the Regional General Manager, Corporate
Development and Strategy for AXA Asia Life.
In this position, Mr. Williams worked with AXA Asia Life's senior management to
expand operations across the region in markets including Hong Kong, China, India,
Indonesia, Malaysia, Singapore, Thailand and the Philippines.
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Mr. Williams has been with AXA since 2002 and has held key positions in Hong Kong
and the Philippines. Mr. Williams has over 15 years of experience in the insurance
industry, particularly in the areas of product & pricing actuary, operations and finance.
In 2006, Mr. Williams led AXA Asia Life's successful integration of MLC and
Winterthur. Prior to joining AXA, Mr. Williams was Marketing Actuary with Swiss
Reinsurance Company in Hong Kong. Mr Williams graduated with a B.Sc (Honor) from
Loughborough University, UK and has been a fellow of the Institute of Actuaries (UK)
since 1998.
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 right from their project days.
Before joining Bharti AXA Life, Ranjan was with JPMorgan Chase Bank, Singapore as
Vice President and Regional HR Manager - Technology & Operations (APAC) from May
2005, after serving the office of Vice President and 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 and 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 and 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.
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Sushanto Mukherjee is the Chief Distribution Officer for Bharti AXA Life Insurance
Company Ltd. Prior to this; he was Director & Head Partnership Distribution & Group
Business at Max New York Life Insurance Co. Ltd.
He started his career with ITC-Welcomegroup hotels division in 1989. He has
subsequently worked in various reputed organizations such as Xerox, Reliance Infocomm
& Tata AIG in senior positions managing sales at Zonal & National Levels.Sushanto has
over 21 years of experience across Insurance, Telecom, Hospitality and Office
Automation.
He has a strong background in developing & managing partnership channels in Life
Insurance, managing large teams in Retail Distribution and effectively leading direct
sales teams in the Corporate Segment. He is an MBA from Cardiff Business School
United Kingdom.
V Srinivasan is currently the Chief Financial Officer of Bharti AXA Life Insurance
Company. He started his career as a Chartered Accountant in 1989 and over the past two
decades has emerged as a stalwart in the financial sector. With over 8 years of rich
experience in the Life Insurance industry, today, he stands as a storehouse of financial
knowledge and expertise.
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Mark Meehan is currently the Chief Marketing and Operations Officer for Bharti AXA
Life Insurance Company Ltd.
Marks previous role in AXA was that of CEO of Tynan Mackenzie P/L, a professional
investment services company. His role in Bharti AXA Life as CMOO includes
Marketing,Product Development, Customer Service, Underwriting, Claims, Channel &
Distribution Operations, Information Technology and Systems, Six Sigma, Business
Continuity and Client Persistency Management.
At Bharti AXA Life, we want to take care of your responsibilities in the same way as you
do for your loved ones, with a range of life insurance services. Through our life insurance
products, you can trust us to take care of your family at all times. You can select the most
suitable plan from our host of plans and make buying life insurance simple and
convenient. Each of the plans, right from traditional life insurance to unit linked life
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insurance, fall in specified segments and fulfill your specific objectives. You can learn
more about the segment and specific plans within the segment by clicking on the type of
plan.
You love your family and feel responsible towards them in every way. But life can be
uncertain and unforeseen contingencies can meet you anytime. At such times, life
insurance comes to your rescue. As someone who wants only the best for their family, we
understand your need to safeguard your family against any crises. Our protection plans
offer you high life cover at nominal costs so that you can fulfill your responsibility with
ease and your family never has to face financial constraints.
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Ensure your family's security + maximise your savings
You can make your money work harder with our Wealth Creation with Protection plans.
Whether it is a a comfortable future, bigger home, or even a dream vacation , these life
insurance plans are the best solutions along with the surety of financial protection. Our
life insurance coverage plans include 'traditional' plans that give guaranteed money on
maturity. While, we also offer market-linked plans that give you the benefit of good
market performance to maximise your savings.
Bharti AXA Life Child Plans
Bharti AXA Life Guaranteed Plans
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after you've stopped working. Without having to depend on anyone else or worry about
rising costs, you can go ahead and lead a comfortable retirement.
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With Bharti AXA Life insurance products, provide financial security and protection to
your loved ones. Simple, affordable plans to safeguard your family from life's
uncertainties.
Bharti AXA Life Shield
Bharti AXA Life Sanjeevani
Life Shield, a single premium group term life insurance product, is a simple, affordable
life insurance solution that financially secures the family of the group member by
providing a life insurance cover.
Sanjeevani, a single premium group term life insurance product provides financial
security and protection to your loved ones. It is a simple, affordable plan to safeguard
your family from life's uncertainties.
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With Bharti AXA Life Credit Protection Plans you can ensure that your family enjoys a
good lifestyle and at the same time is protected from the uncertainties of life.
Bharti AXA Life Credit Secure
Bharti AXA Life Mortgage Credit Shield
Bharti AXA Life Credit Shield
Bharti AXA Life Credit Secure is a single premium group reducing term life insurance
product, that makes sure your family is not burdened with your loan liability in your
absence. Now you can ensure that your family is protected from the uncertainties of life
even as they enjoy a good lifestyle. In case of an eventuality, Bharti AXA Life will pay an
amount that can used to settle the outstanding loan amount.
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Presenting you with Credit Shield from Bharti AXA Life, a group product - which
protects the family of the borrower in the event of death by paying an amount to settle the
outstanding loan.
CHAPTER-3
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TRAINING & DEVELOPMENT
PROGRAM DONE BY BHARTI
AXA AT VARIOUS LEVELS
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Definition of Training:
Areas of training:
Company policies and procedures
Human relations training
Skill based training
Problem solving training
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Onsite Workshops for Leadership Team
Employees need more than bosses. They need mentors: Professionals skilled at
assessing employee development needs and committed to guiding employees toward
professional success.
This training program provides healthy perspectives for managers at all levels,
making it an ideal morale-boosting leadership development experience for mixed groups
of front-line supervisors and senior staff members.
All managers need methods. Leaders need to know the most effective techniques
for guiding teams, mentoring individuals, and validating the results. Without solid
methods, managers will revert use a one-size-fits-all approach to leadership that reflects
the leader's personality, rather than the employees' needs.
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This workshop includes elements of Frank Whyte's nationally respected Team
Building Workshops expanding upon that foundation to help leaders:
Align their leadership style with those of their bosses, colleagues, and
subordinates,
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Training is must for every individual when he enters into the organization. Even
though the candidate has experience he also should get training. Why because the
organization culture, values and beliefs are different from one organization to other.
Thats why the training program plays a key role in every organization.
Training program following Bharti AXA Life Insurance is different at various levels.
Mainly in training program the company concentrates on sales managers, agents,
operations executives and telecallers.
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Required skills for employees in Bharti AXA Life Insurance:
Interpersonal skills
Excellent communication skills
Understanding nature
Aggressiveness
Convincing skills
Ability to motivate others
Interest to learn
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
15. Blended learning
16. Outbound Management Development Programmes
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TYPES OF TRAINING & DEVELOPMENT
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
15. Blended learning
16. Outbound Management Development Programmes
17. Performance Management
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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.
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
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"development" is generally seen as the more encompassing of the three in terms of
activities that build skills and competencies.
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.
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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 and
used 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, it turns into steam; steam generates pressure when
in an enclosed space; pressure drives engines. And so forth.
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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.
(a) A set of functions that evaluate and report the behavior of telecommunications
equipment and the effectiveness of the network or network element and
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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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CHAPTER-4
ANALYSIS
OPINION %AGE
Very Good 46%
Good 28%
Bad 10%
Time waste Process 16%
Total 100%
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From graph it can be seen that 46% respondents are in favour of very good
training.
OPINION %AGE
Yes 80%
No 20%
Total 100%
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From graph it can be seen that majority of the respondents are 80%. Only 20%
feel that training will not helpful for individual growth.
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From graph it can be seen that majority of the respondents are satisfied with the
Training Program. Only 2% were fully dissatisfied with the Training programs.
OPINION %AGE
Yes 60%
No 40%
Total 100%
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From graph it can be seen that majority of the respondents are
satisfied with the appraisal system. Only a meager 30% were
dissatisfied with the Performance Appraisal programs.
OPINION %AGE
Agents 50%
Tele Callers 16%
Operation Executives 14%
All 20%
Total 100%
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From graph it can be seen that majority of the respondents are
satisfied with the appraisal system. Only a meager 30% were
dissatisfied with the Performance Appraisal programs.
AREAS %AGE
Company Policies And Procedures 16%
Skill Based Training 54%
Problem Solving Skills 8%
All of The Above 22%
Total 100%
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From graph it can be seen that majority of the respondents are
satisfied with the appraisal system. Only a meager 30% were
dissatisfied with the Performance Appraisal programs.
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CHAPTER-5
FINDINGS
FINDINGS
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Training & Development makes an employee more useful to a firm.
Training enables employees to secure promotions easily. They can realize their
career goals comfortably and development helps in increase their morale.
Employees can avoid mistakes on the job. They can handle jobs with confidence.
They will be more satisfied on their jobs.
Training & Development can contribute to higher production and fewer mistakes,
greater job satisfaction and lower employee turnover. Also, it can enable
employees to cope up with organizational, social and technological change.
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CHAPTER-6
RECOMMENDATIONS
RECOMMENDATIONS
Create awareness: The Company has to take care of awareness creation about the
products and services among the Advisors/Agents
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Charges: The Company has to reduce the mortality and administration charges.
Company should consider the present competition and should act according to the
customer needs.
It should be like long term training like Fundamental Carrier class, Basic Carrier
class which helps the advisors in different stages.
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CHAPTER-7
CONCLUSION
CONCLUSION
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In this Knowledge-based economy, training helps people to learn how to do the
things differently or to the different things and Development is that which helps in
improving the performance of the employees by giving them opportunities for growth.
Products are now increasingly knowledge-intensive; for this employer are responsible for
providing opportunities for continued learning. To cope with the challenges and
competitiveness in the world, every organization needs the services of trained persons for
performing the activities in the systemic way. So, training program plays a key role in
individual as well as organizational performance.
LEARNINGS
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1) Importance of the training program
2) How the training program will help for the individual as well as organizational
growth.
3) The way to improve communication skills.
4) The way to behave people in corporate world.
QUESTIONNAIRE
1. Name:
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2. Designation:
3. What is your opinion on training?
Good Very good Bad Time waste process
4. Do you feel that training will helpful for individual growth?
Yes NO
5. Did you satisfy with training what company conducted here?
Yes No
6. Is there any improvement in performance after getting the training?
Yes No
7. Who needs much knowledge regarding company and product?
Agents Tele callers Operations executives All
8. In which areas employee needs training?
Company policies and procedures
Skill based training
Problem solving skills
All of the above
REFERENCES
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1) Lynton, R.P. and Pareek, U. Training for development, 2 nd Ed., New Delhi:
Vistaar publication, 2002.
2) Bhatnagar, O.P. Evaluation methodology for training, New Delhi: Oxford and
IBH publishing co.pvt.ltd.
3) Rae, L. The art of training and development, effective planning. Vol. 1, New
Delhi.
4) Tannenbaum, S. A strategic view of organizational training and learning.
5) A hand book of human resource management practice, 8th ed., 2001.
6) Personnel management, Mc. Graw Hill, 6th ed., 1981.
7) Kothari, C.R. Research Methodology, 3rd edition, 1997, Vikas Publishing House
Pvt. Ltd, New Delhi
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