A PROJECT REPORT

ON
CANDIDATE SELECTION PROCESS
FOR INSURANCE ADVISOR
PROGRAMME

GUIDED BY
DR, HARISH SINGH

SUBMITTED BY:

TUSHAR PATIYAL
ROLL NO. 71
B.B.A – VTH semester

MAHARAJA SURAJ MAL INSTITUTE

 NEW DELHI

ACKNOWLEDGEMENT

On the eve of admission of this project report I take this pleasure to

acknowledge all those personalities who have guided and encouraged as well as
cooperated and assisted in accomplishing this project. Success is an endeavor,
calls for the cooperation and guidance from the seniors and the colleagues. No
amount of written expression is sufficient to show my deepest sense of gratitude
to them. This was aptly brought to me while undergoing my training. I would like
to take opportunity, especially to express my profound gratitude and
indebtedness to Mr. Sushil Verma- Manager, Tata AIG, for his constant
assistance and guidance.

I also deem it to be my privilege to acknowledge the encouragement and

facilities provided to me by TATA AIG Life Insurance Company Ltd. to make this
project a fruitful one. I am thankful to Mr. Deepak Chakrobarty and Mr.
Basudev Bose, Director Indraprastha Consultancy Services, Senior
Business Associates with Tata AIG Life Insurance Co. Ltd. for his exemplary
guidance, monitoring and constant encouragement throughout the project.

I am also thankful to all those people of TATA AIG Life Insurance

Company Ltd. whom I came across for their extended support during the
project period.

2
 I remain deeply appreciative of persistent cooperation of my project guide
DR. HARISH SINGH for his support throughout the project.

INDEX

CERTIFICATE OF THE COMPANY

ACKNOWLEDGEMENT
PREFACE

CHAPTER-1 EXECUTIVE SUMMARY OF THE PROJECT

CHAPTER-2 COMPANY PROFILE

 Introduction
 History
 Product Profile
 Sales figures/ Market Share
 Organizational Chart

CHAPTER-3 JOB DESCRIPTION

 Detailed Job Profile
 Area Assigned
 Target Assigned
 Day to day on job experience

CHAPTER-4 FINDING & ANALYSIS

 Difficulties faced
 Major limitations

3
CHAPTER-5 CONCLUSION & SUGGESTIONS
 Future Growth Prospects & Suggestion

ANNEXURE
1) Bibliography
2) Questionnaire

INTRODUCTION ON
TATA AIG

4
 THE TATA GROUP

The Tata Group, easily India's most recognized business group, was
founded by Jamsetji Tata and began with a textile mill in central India in the
1870s. From there, it has evolved into a truly diversified conglomerate spanning,
among other sectors, Engineering, Energy, Chemicals, Consumer Products, and
Communications & IT. The Tata Group is one of India’s best-known industrial
groups with an estimated turnover of around US $14.25 billion (approximately
26% of India’s GDP). With more than 220,000 employees across 91 major
companies, it is also India’s largest employer in the private sector.

The Tata Group pioneered several firsts in Indian industry firsts, including:
India's first private sector steel mill, first private sector power utility, first luxury
hotel chain and first international airline, amongst others. Recently, the Tata
Group's pioneering spirit has been showcased by companies such as Tata
Consultancy Services (TCS), Asia's largest software and services company, and
Tata Motors, the first car maker in a developing country to design and produce a
car from the ground up.

The Tata Group stable of brands also includes many national and some
internationally renowned product and service brands, including:

5
 Tata Motors (multi-utility cars)

Tata Motors, India's largest automobile company,

manufactures two kinds of multi-utility vehicles: the well-appointed Tata Safari
and practical Tata Sumo.

Tata Motors (Passenger Cars)

Tata Motors has a pioneering presence in India's

automobile industry, best illustrated by the path-breaking creation of the Indica, a
hatchback that was the country's first indigenously designed and manufactured
car. Since then the company has expanded its passenger cars portfolio, which
now also boasts the Indigo, a sedan, and the Indigo Marina, a station wagon.

The Taj Group of Hotels (Luxury, Business and Leisure)

Jamsetji Nusserwanji Tata, the founder of the Tata Group,

incorporated the Indian Hotels Company on April 1, 1902, for the ownership and

6
operation of the renowned Taj Mahal Palace and Tower, Mumbai. Indian Hotels
and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces
and, together, form the largest hotel chain in India

Tata Tea & Tetley

The Tata Group runs the world's

second-largest branded tea operation. Tata Tea and Tata Tetley are the two
companies that power the group's leadership drive in the worldwide tea industry.

Tata Salt

Besides tea and coffee, Tata Group enterprises are also

involved in the production of food additives and spices. Tata Salt is the No 1
food brand among India's most trusted brands. India's most preferred salt is one
of the purest available in the country. Moreover, Tata Salt contains the right
amount of iodine, vital for physical and mental growth and development.

7
 Titan

Titan Industries is India's leading manufacturer of watches and

the world's sixth largest manufacturer brand of watches. The company makes
about 7 million watches and clocks every year and has a customer base of some
60 million. It enjoys over 50 per cent market share in India's organized watch
segment.

Tanishq

Tanishq, a division of Titan Industries, is India's largest

jewellery brand. It has 74 boutiques in 55 cities across the country

8
 Westside (Garment Retail Outlet)

Trent, the Tata Company that owns and operates the Westside
chain of lifestyle stores, retails garments and household accessories. Set up in
1998, Westside is among the fastest-growing retail chains in India. It has a team
of dedicated merchandisers, store staff and in-house designers, and its store
portfolio comprises clothes and accompaniments for men, women and children.
The chain also sells household accessories, cosmetics and perfumes. The other
products and brands are: Tata Steelium, Tata Shaktee, Tata Tiscon, Tata
Bearings and Voltas.

By combining ethical values with business acumen, globalization with

national interests and core businesses with emerging ones, the Tata Group aims
to be the largest and most respected global brand from India whilst fulfilling its
long-standing commitment to improving the quality of life of its stakeholders.

9
 THE AIG GROUP

American International Group, Inc. is the world's leading international

insurance and financial services organization, with operations in more than 130
countries and jurisdictions. AIG member companies serve commercial,
institutional and individual customers through the most extensive worldwide
property-casualty and life insurance networks of any insurer. In the United States,
AIG companies are the largest underwriters of commercial and industrial
insurance and AIG American General is a top-ranked insurer. AIG's global
businesses also include retirement services, financial services, and asset
management.

AIG's financial services businesses include aircraft leasing, financial

products, trading and market making. American General Finance leads AIG’s
growing global consumer finance business in the United States. AIG also has
one of the largest U.S. retirement savings businesses through AIG SunAmerica
and AIG VALIC, and is a leader in asset management for the individual and
institutional markets, with specialized investment management capabilities in
equities, fixed income, alternative investments and real estate.

10
 TATA AIG

Tata AIG Life Insurance Company Ltd. is a joint venture of the Tata Group
and American International Group, Inc. (AIG). The Tata Group holds 74 per cent
stake in the two insurance ventures while AIG holds the balance 26 per cent
stake. Tata AIG General Insurance Company, which started its operations in
India on January 22, 2001, offers the complete range of insurance for
automobile, home, personal accident, travel, energy, marine, property and
casualty, as well as several specialized financial lines.

Tata AIG Life Insurance Company Ltd. is India's leading insurance company
providing both Life and General Insurance. It represents the trust and integrity of
TATA group combined with the international expertise and financial strength of
AIG, Inc. For individuals: motor, health, and accident and health n travel. For
Corporate: accident n health, travel, energy, property, marine n contingency.

11
 MANAGEMENT
Trevor Bull – Managing Director

Mr. Trevor Bull joined Tata AIG Life as Managing Director in January 2006.
Prior to this, Trevor was Senior Vice President and General Manager at
American International Assurance in Korea. Trevor has over 28 years of
experience in the life insurance industry and has spent considerable time working
in Japan and Britain. His experience covers an array of skills at various authority
levels including Director, Regional Executive, Senior Line Management and
Project Management. Additionally, Trevor has acquired keen insights into Unit
Linked, conventional life and health insurance/ reinsurance and all major
products & distribution channels.

12
SWOT ANALYSIS OF
TATA AIG

13
 SWOT ANALYSIS

A SWOT (Strengths, Weaknesses, Opportunities and Threats) is a tool

used to provide a general or details snapshot of a company’s health. An
effective SWOT analysis will help determine in which areas a company is
succeeding, allowing it allocate resources in such a way as to maintain
any dominant positions it may have.

Strengths:

• Tata AIG has the strong brand name of TATA & AIG with it.
• It offers a good career path for advisors. ( Advisor to Business Associate
to a Senior Business Associate & finally to a Managerial Business
Associate)
• Tata AIG has a good reputation among customers.
• It gives Ist year highest commission.
• Tata AIG has a strong training support
• Tata AIG is the only Insurance Company in the world rated AAA by SWP.
• It is the only company that provides whole infrastructure to new advisors.
• It ensures a long-term growth for the insurance advisors.

WEAKNESS:

• Tata AIG is conservative in the context of advertising.

• It is an underwritten driven company.

OPPORTUNITIES:

• Tata AIG provides protection against financial loss & helps in future
planning.
• They also provide additional rewards for advisors.

14
THREATS:

• Because of the mushrooming of the private insurance companies, there is

increased competition.
• The training period of 18 working days/100 hrs and the fee of 1000/-, also
stands as a hindrance for people who are interested to become insurance
advisors

15
 INSURANCE
REGULATORY
DEVELOPMENT
AUTHORITY (IRDA)

16
 ABOUT IRDA

IRDA is a government body that protects the interests of the

policyholders, to regulate, promote and ensure orderly growth of the
insurance industry and for matters connected therewith or incidental thereto.
The way RBI controls all the banks, in the same manner IRDA takes control of
all the insurance companies. It includes registrations, licensing and laying
down regulations for proper conduct of business.

17
 IRDA NORMS FOR TRAINING AS A FINANCIAL
ADVISOR

• A financial advisor must possess a license issued by IRDA.

• The qualifications necessary before a license can be given are that the
person must:

 Be at least 18 years old

 Have passed at least the 12th standard or equivalent examination
 Have undergone practical training for at least 100 hrs in life or general
insurance business
 Have passed the pre-recruitment examination conducted by the IRDA.

DOCUMENTS REQUIRED

On the time of the registration, the candidate has to bring along a list of
documents. These are:

• 6 photographs
• Identification proof
• Date of birth proof
• Highest Education proof
• Residence proof
• Rs. 1000/- Demand Draft favoring “Tata AIG Life Insurance company Ltd.”
Payable at New Delhi.

18
PRODUCT PROFILE

19
 PRODUCTS

Tata AIG Life Insurance Company specializes in helping their customer in

fulfilling their future financial goals and builds an extra security cover for their
family and loved ones. The various products offered are:

• Invest assure- Unit Linked Insurance Plan: This highly flexible plan
gives you full life cover AND high returns AND the flexibility of deciding the
length of your life cover term, the amount of cover you receive & where the
rest of your premium is invested.

• Mahalife: This exceptional policy ensures that you have a steady income
and insurance coverage for life! Premiums are payable only for the first 12
years. You can even use this to create a steady stream of post retirement
income.

20
• Educare: This first of its kind juvenile endowment policy is geared toward
funding your child’s education. You can choose between Assure Educare
18 and Assure Educare 21, depending on your child’s needs.

• Shubh Life: This plan provides you 100% life insurance protection and
high returns on your investment but the premiums you pay are among the
lowest of any similar endowment policy.

• Money Saver Plan : This savings plan provides you with cash payments
in the form of survival benefits at regular intervals to fund your child’s
needs at critical milestones or support your financial obligations. You get

21
 the dual benefits of life insurance coverage plus the flexibility of periodic
payments.

• Nirvana & Nirvana Plus: This is India’s first and only pension policy with
a guaranteed addition of 10 percent of sum assured every 5 years. You
can choose from three levels of cover, and also decide the age you want
to retire.

• Starkid: An exceptional endowment policy that ensures you can afford to

give your child the very best for his career & marriage.

• Health Protector: The average cost for a major surgery or treatment in

hospital is between three to five lakh. Health Protector is the first product

22
of its kind in India that offers you protection in case ANYONE in your
family has an accident or falls ill.

MARKET SHARE

23
 GENERAL
AXA
ALLIANZ
MUNICH RE
SWISS RE
AEGON
AVIVA
PRUDENTIAL
AIG

MARKET SHARE

TATA AIG Life Insurance Company has said that it aimed to be the
number-two private player in the life insurance industry with a market share of 20
per cent by 2007.

Mr. Trevor Bull, Managing Director, Tata AIG, estimated that by 2007,
private players would have about 40 per cent of the total life insurance market;

24
currently dominated by the Life Insurance Corporation. Tata AIG Life Insurance
Co. is expecting a 85-90% growth in its total premium income in 06-07.

Tata AIG has 85 offices in cities, and would be opening 20-25 new offices
during 06-07 to cater to a larger customer base. Profit from General Insurance for
05-06 is estimated to be 13.6 crore.

25
ORGANIZATIONAL
CHART

26
 MANAGING DIRECTOR

DIR. OF DIR. ALT. DIR. OF DIR. DIR. RURAL

AGENCY CHANNEL TRAINING BNKASSRNC INSURANCE

ZAH ZAH ZAH ZAH ZAH ZAH ZAH ZAH

SOUTH SE SW MUMBAI NORTH WEST DELHI EAST

BOS JSO BOS JSO

LOTUS CBD NOIDA MOTI

Ngr

ZAH: Zone Agency Heads

BOS: Branch Officer Sales

JSO: Junior Sales Officer

SE: South East

SW: South West

CBD: Connaught Place

DIR.: Director

27
 OBJECTIVE OF THE STUDY

The objective is to design out candidate selection process for insurance

advisor program.

Tata AIG is looking for insurance advisors to give advice and sell
insurance. And it pays as much as one wants it to. Tata AIG Life, a company that
combines the trust and integrity of the Tata Group with the expertise & financial
strength of American International Group, Inc.

28
 The person receives World-Class training while the marketing &
management support ensures their success. So, our main aim is to look out for
eligible candidates who have the time to devote and desire to earn money and
then recruit and select them as financial advisors.

DETAILED JOB PROFILE

The project required me to approach people and make them aware of the
part-time business opportunity that Tata AIG is offering, wherein, they will be
recruited and selected as Financial Advisors. Here, not only will they earn a lot,
but the growth prospects would also be open to them. For this, we collected data
through various means and some of it was provided by the company as well. We
were supposed to make calls to people, undertaking surveys, etc., make them
aware of this opportunity and arranging appointments with our manager. After
this, they were interviewed and later on selected, if eligible, for the offered work.

29
Our project in Tata AIG involved the following tasks:

 Recruitment: ways, sources and means

 Selection Criteria
 Selection Procedure

THE UNIQUE BA MODEL

Tata AIG offers a unique BA MODEL. This is what makes Tata AIG
different from other Insurance companies. All private insurance companies
take a person as an agent and keep the as an agent all through their life till
the retirement period. But, Tata AIG offers a growth model, where a person
joins the company as a financial advisor, and then keeps having a constant

30
 growth in his earnings as well his position. One can take this as a part time
work and can later on make a career also in this. He may continue with his
present job and the earnings from his this work can act as an add-on/ extra
earnings to his salary

This BA Model acts as the major attraction to people. In the process of

the promotions, one reaches to a position of a Business Associate, where he
is provided with a fixed phone line and office space. Also, this person handles
a team of 20+ people and he earns 25% on the earnings of his team as well.

THE BA MODEL
Trg. SUPPORT

FINANCIAL ADVISOR
Production
Sales Tier1 Mgr
Presentation
BA
Telecalling

9 policies+ 60,000
27%
prem.
40%
(3 months)

SENIOR FINANCIAL Products Tier2 Mgr

ADVISOR Skills BA
36 (27+9)policies+
>45,000 31
32% commission
8% avg.
40% 20+
Example (121,00,000
months) 25%
bonus ( Av. Earning- Rs.5000 )
 BUSINESS Office space BA Mgr

ASSOCIATE Phone Line Sr. BA Mgr

32
RECRUITMENT & DATA
COLLECTION

RECRUITMENT

33
It is the process of finding and attracting capable applicants for employment.
The process begins when new recruits are sought and ends when their
applications are submitted. The various methods that we followed for the data
collection in the recruitment & selection process of financial advisors are:

1) Data collected from Just Dial : The idea was to select various
segments where appropriate candidates could be found to be
recruited as financial advisors. Then the calls were made and
appointments were fixed with people who were found to be
interested.

The various segments covered are:

• Interior decorators
• Boutiques
• Beauty parlors
• Travel agents
• Florists
• Cable operators
• Cyber café owners
• Video library owners
• Tax consultants
• Chartered accountants

All above mentioned segments consist of people who have good contacts.
These people have large number of visitors/customers at their work places
and can convince them well and, therefore, act as good financial advisors.
These people possess the amount of time that is required from a financial
advisor, and also a desire to earn money that motivates them to work
harder and give more and more business.

34
 2) Data collected through survey at various places :

• Metro & DU survey: We approached people here and invited them for a
seminar to be held at the office, about the part time business opportunity
that Tata AIG was offering. We approached people who appeared in their
retirement age, and who showed interest in indulging in a part time
business. Their name & contact numbers were taken & later on they were
called and invited for a COP (Career Opportunity Path), at the office
premises.
• Barakhamba road
• Kasturba Gandhi marg
• Karol Bagh
• ITO
• Kashmere Gate

At the above places, we approached people with a questionnaire taking their

information. Through that we also asked if they were satisfied with their
current earnings and if would like to get involved in any part time business
opportunity. Also since how many years was a person residing in Delhi. All
this helps in judging who will be a better person to approach first and who
fulfills the criteria we looking out for the most.

 Data collected from HT Classifieds & Matrimonial: Calls were made at

random numbers and people were invited for a one- to – one meeting with
manager.
 Data provided by respective BAs: We were assigned under a Business
Associate each. These BAs also provided us with data on which we made
calls and invited people at our office for the interviews.

35
 OBJECTIVE OF THE RESEARCH

The primary objective would be-:

• The main purpose of the project is to design out candidate selection

process for insurance advisor program.

The Other objectives would be: -

• Analysis of positive and negative things about the various means used to
carry out the recruitment process.
• To see the availability of people and their willingness to indulge
themselves in a part time career opportunity.
• Finally to conclude the findings and suggest the necessary corrective
measures and recommendations regarding the future growth prospects.

36
 TYPES OF DATA

Two types of data: -

 PRIMARY DATA
 SECONDARY DATA

PRIMARY DATA: -
Primary data is the kind of data, which is collected by the investigator himself
for the purpose of the specific study. The data such collected is original in
character. The advantage of this method of collections authentic. A set of
Questions was put together in the form of two questionnaires . The method of
sampling was the random convenient sampling method.

SECONDARY DATA: -
When an investigator uses the data that has been already collected by others
is called secondary data. The secondary data could be collected from
journals, Reports, internet and various publications. The advantages of the
secondary data can be it is economical, both in terms of money and time
spent. The researcher of the report also did the same and collected
secondary data from various Internet sites like google.com, yellowpages.com
and many more. The researcher of the report also visited various libraries for
collection of the introduction part.

37
 DATA COLLECTION

 Data collected from various places such as Connaught place and

whereabouts, Karol Bagh, Kashmere Gate, etc.
 Sample size, which has been covered, is 150.
 Other information related to project has been taken from company
website.

38
 APPROACH TO PEOPLE

To approach people we made calls to them to make appointments. To a

section of people who were interested in the opportunity yet did not have time,
we had sent someone from the office to attend them and explain about the
whole opportunity in addition to the benefits it offered. We had also invited
people for COPs, a seminar that talks about the whole BA Model and the
benefits that a financial advisor can avail once he starts with his work. We
also did surveys, where we approached people face-to-face and gave them a
brief about the opportunity and invited them for a one-to-one meeting or
seminar as would suit them. We mainly approached people who seemed to
be in their retirement age or ones who seemed to be on a look out for a job,
part-time or full time.

Once people are short listed and recruited, we follow a series of procedures
through which they are finally selected. The procedure is known as the
selection process and is explained in detail.

39
THE SELECTION
PROCESS

40
 SELECTION PROCESS

Selection is the process of picking individuals (out of the pool of job

applicants) with requisite qualifications and competence to fill jobs in the
organization. It can also be defined as: It is the process of differentiating
between applicants in order to identify (and hire) those with a greater
likelihood of success in a job.

Here, at Tata AIG, we have followed a series of processes in selection of a

Financial Advisor.

CRITERIA FOR SELECTION

• Stability in Delhi: The person should be a stable Delhi resident. This

ensures his having a good number of contacts & an amount of trust that
people build over a person.
• Natural Market: This also is a very important factor. The person who is to
be selected as an insurance advisor, if he has a natural market he can sell
insurances to them also.
• Time: The candidate should have enough time and proper focus for the
training as well as for the work.
• Desire to earn money: This is a factor that a candidate must certainly
possess. It would motivate him to give out more and more business & if he
will have a desire to earn money he would be more devoted toward his
work.

41
SELECTION
PROCEDURE

42
 PROCEDURE

At Tata AIG, following steps were followed by us in the selection of a financial

advisor:

• Candidate’s profile sheet: As soon as the candidate comes, he is made

to feel comfortable and then is given a candidate registration form to fill.
The candidate is supposed to fill this form to provide us with his basic
personal information. For e.g. :
 Candidate’s address.
 Since how long he’s been residing in Delhi
 His qualification
 His experience, if worked earlier, etc.

• Preliminary interview: This is done to eliminate the candidates who are

not found to be appropriate for the job.

43
• Career Opportunity Path (COP): A seminar is held, to give a brief detail
about the BA Model and the work of a Financial Advisor. He is also
notified about all the details of the benefits he would get out of his job. This
seminar is followed by some tea and snacks for the invitees.

• Interview: Once the capable candidates are selected amongst all, they
are called for a One- to-one interview with the Manager. This is carried on
because :

 It helps in obtaining additional information from applicant.

 It facilitates giving general information to applicant such as, company
policies, job, etc., &
 It helps build Company’s image among the applicants.

• References: Candidate is also asked for references. Previous employers,

known public figures, university professors, neighbors or friends can act as
references. These are required so that, once we register the selected
candidate with us, we would need to confirm his information provided by
him.

44
• Selection Decision: The person is analyzed by the Manager on the basis
of the above stages and is then finally selected for the job.

• Registration: This is the final step. When a candidate fulfills all the above
criteria, the registration is done. The candidate is asked to fill a NAAF,
New Agent Application Form, and submit his required documents.

DAY TO DAY ON JOB

EXPERIENCE
On reaching Tata AIG, my daily schedule was to discuss over topics of my
course books with other trainees, besides reading newspapers.

The objective of this training at Tata AIG was to recruit and select
Insurance Advisors. In the beginning I was provided with the data by the
Business Associates, under whom we were assigned. On the basis of this
data, I was making calls telling them about the part-time business opportunity
that Tata AIG has on offer.

A number of calls made by me were not responded as their numbers

had changed. Half of those with whom I got in contact were not interested in
the offer because of being too busy to spare time. Of those who replied
favorably and consented to an appointment for a meeting with the manager, a
few asked to call them later.

45
 For a number of days we also conducted surveys at various places.
This was done in order to have a new experience as well as in search of
persons who ostensibly appeared to be eligible for the job of an Insurance
Advisor. They were invited either for a COP, Career Opportunity Path, or for a
one-to-one meeting with Mr. Sushil Verma, the Manager. Later they were
called on phone and given appointment on mutual convenience. As far as my
understanding goes, most of those contacted were not interested in attending
seminars, but their response to person-to-person contact was generally
positive.

On daily basis, three to four persons used to visit the office at the
appointed time to meet the manager. Many of them were accepting the offer,
but for most of them the training period, (18 full working days), was a
hindrance; for very few ones, the fee amount of Rs. 1000 would come in the
way. A few for whom the offer was acceptable would keep delaying by
excuses of being busy. From those who were unable to personally attend the
training were offered to undertake online. Some of them were rejected
because they were not an online profile, i.e., undergraduates.

The modus operandi for a personal meeting was to make him

comfortable at first. Then he was offered to fill the candidate registration form
to get his basic personal information. Those who appeared matured and
experienced, were straight directed to meet the Manager, Tata AIG for getting
himself informed about the career path and its benefits, where he was
explained about the Tata AIG’s unique BA Model and its details. And the rest
were initially attended by us and those we found fit were finally sent to the
Manager’s room.

Interspersed, were sessions held by experienced managers to enhance

our knowledge about insurance sector and briefings on Tata AIG were given
off and on. Every now and then were given lectures by senior officials to
improve our telecalling skills and how to interact with persons.

46
 At the day-end, the Manager would sit with us to get the briefing of
day’s work and give us next day’s plan.

LIMITATIONS
Although I had a wonderful experience while working with Tata AIG, yet I faced a
couple of difficulties. Every task has its own limitations, and so did this
recruitment & selection process of the insurance advisors. They were as follows:

• Firstly, two months is a very short period to contact people and recruit
them.
• People, who are already working on a 9.00-5.00 job, find it difficult to
take out time & come for the interview.
• Perception of telecalling amongst people is that one has called to sell
insurance policies.
• Availability of people is less at the time our surveys were conducted,
i.e., at afternoon on working days.
• The duration of training period (18 days/100 hrs) has proved to be
inconvenient for those who are busy in other vocations. So people
refrain from joining after initial contacts.

47
• Being an opinion survey the personal biases of independent respondents
might have entered his/her opinion.

48
 BIBLIOGRAPHY

The various books that I had consulted for the successful completion of my
summer training project are listed below. These are:

K. Aswathappa, “Human Resource and Personnel Management”, Tata

McGraw-Hill Publishing Company Limited, New Delhi

Shawn A Smith, Rebecca Mazin - Business & Economics

Philip Kotler, “Marketing Management”, Prentice-Hall of India Pvt. Ltd.,

New Delhi

We visited the following sites:

www.tata.com

49
www.tata-aig/life.com

www.aig.com

50
 CONCLUSION

With introduction of the foreign sector in the field of Insurance, it has

become extremely competitive. Insurance involves tiring field work and tele
contacting, the prospective customers – to persuade them and convince them
about future benefits of the insurance scheme.

The Tata AIG, a multinational insurance concern, is busy in recruiting and

selecting insurance advisors tactfully, skillfully and with expertise. In view of the
competition, especially in the private sector, the Tata AIG, makes efficient sales
team effort with expertise and acumen to create excellent customer relationship
management with great online support and personal contacts.

The Tata AIG is one of the most prominent insurance companies with
international expertise and experience.

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