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HR POLICIES

OF

By:

Strangers

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TATA AIG INSURANCE COMPANY

Tata AIG Insurance Solutions is one of the leadinginsurance companies that provide both life insurance as

well as general insurance.

Joint collaboration between the American International

Group, Inc. (AIG) and Tata Group.

They own the company in the ratio of 26:74.

It is a leading financial institution that has carved a niche

for itself all over the world.

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TATA AIG GENERAL INSURANCE

COMPANY

Tata AIG General Insurance Company started

its operations in India on January 22, 2001,

Gaurav D. Garg is the Managing Director

& CEO, Tata AIG General Insurance

Co. Ltd.

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TATA AIG LIFE INSURANCE COMPANY

Tata AIG Life Insurance Company was licensed

to operate in India on February 12, 2001 and

started operations on April 1, 2001.

Mr. Suresh Mahalingam, (M. Suresh) , MD,

Tata AIG Life Insurance Company.

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Human Resource Policies

Human resource policies are systems of codifieddecisions, established by an organization, to

support administrative personnel functions,

performance management, employee relationsand resource planning.

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Functions of the HR Department

of TATA AIG Recruitment and Selection

Induction

Competence Development

Providing compensation and other

employee benefits

Performance Management

Talent and Career Management

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Sources of Recruitment

Placement Agencies and Consultants

Campus Recruitments

Off-campus Recruitments Internal Job Postings

Promotions(existing employees)

Moving across verticals(existing employees)

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Selection Process

There is a screening process based on the

resumes of applicants followed by group

discussion and personal interview.

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Types of Employees

TATA AIG has both permanent employees as

well employees on contract basis.

Both are on company pay rolls.

Company employs financial advisors who are

not on company pay roll but work on

commission basis.

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Compensation of Employees

Basic- 30% of annual salary

Bonus(yearly)

HRA

Medical Allowance

Conveyance Allowance

Other Allowance(Food, mobile phone bills,etc.)

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Benefits apart from salary

Mediclaim

Superannuation benefits

Performance bonus Incentives

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Measuring Employee Performance

Goal Sheet

Target Achievement

Quality of work Ethics used in target achievement

Customer satisfaction

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Training and Development of

Employees

On job training

E-learning course

Career progression programs

Leadership development programs

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Motivating Employees

Motivational training programmes

Providing Incentives

Recognition to employees Providing sponsored holidays for employees

and their family

Helping them in converting a prospect into asale.

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Special Motivational Programes

Friday Movie Mania Recharge zone

Sports Club

Annual Theme Party

Celebration Week

Town Hall

World of Work(WOW)

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Rewards and Recognition for

employees

Inspired by the blockbuster The Matrix

the employees are given recognization on

the basis of their performance.

The employees are recognized on the basis

of their individual and team efforts

Acknowledged recipients are displayed on

the wall of fame at all branches

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Grievance Redressal

There is no proper grievance cell but they

have a Disputes Settlement Department

within the organization which looks after

settling issues among employees or any

complaints of the employees.

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Equal Opportunity Employer

TATA AIG does not discriminate

between men and women while

employing people.

It also provides employment to

physically disabled people.

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Conclusion

Tata AIG offers opportunities to learn,contribute and build careers. As a leading

name in the fast-paced insurance industry,

they are constantly growing and are always insearch of bright talent across all levels. The

Company's philosophy is strongly oriented to

developing talent through motivationalprogrames. They recognize potential and

consistent performance and their dynamic

corporate culture can be summed up as

Work hard, play hard.

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