TATA AIG-1

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A PROJECT REPORT A PROJECT REPORT ON ON CANDIDATE SELECTION PROCESS FOR CANDIDATE SELECTION PROCESS FOR INSURANCE ADVISOR PROGRAMME INSURANCE ADVISOR PROGRAMME GUIDED BY GUIDED BY DR, HARISH SINGH DR, HARISH SINGH SUBMITTED BY: SUBMITTED BY: TUSHAR PATIYAL TUSHAR PATIYAL ROLL NO. 71 ROLL NO. 71 B.B.A – VTH semester B.B.A – VTH semester

Transcript of TATA AIG-1

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A PROJECT REPORTA PROJECT REPORT

ONON

CANDIDATE SELECTION PROCESSCANDIDATE SELECTION PROCESS

FOR INSURANCE ADVISORFOR INSURANCE ADVISOR

PROGRAMMEPROGRAMME

GUIDED BYGUIDED BY

DR, HARISH SINGHDR, HARISH SINGH

SUBMITTED BY:SUBMITTED BY:

TUSHAR PATIYALTUSHAR PATIYAL

ROLL NO. 71ROLL NO. 71

B.B.A – VTH semesterB.B.A – VTH semester

MAHARAJA SURAJ MAL INSTITUTEMAHARAJA SURAJ MAL INSTITUTE

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NEW DELHINEW 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.

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I remain deeply appreciative of persistent cooperation of my project guide

DR. HARISH SINGH for his support throughout the project.

INDEXINDEX

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

CHAPTER-5 CONCLUSION & SUGGESTIONS

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Future Growth Prospects & Suggestion

ANNEXURE

1) Bibliography

2) Questionnaire

INTRODUCTION ON

TATA AIG

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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:

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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

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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.

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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

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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.

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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.

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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.

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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.

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SWOT ANALYSIS OF

TATA AIG

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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:

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Tata AIG provides protection against financial loss & helps in future

planning.

They also provide additional rewards for advisors.

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

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INSURANCE

REGULATORY

DEVELOPMENT

AUTHORITY (IRDA)

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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.

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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

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Residence proof

Rs. 1000/- Demand Draft favoring “Tata AIG Life Insurance company Ltd.”

Payable at New Delhi.

PRODUCT PROFILE

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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.

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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 the dual benefits

of life insurance coverage plus the flexibility of periodic payments.

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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 of its

kind in India that offers you protection in case ANYONE in your family has an

accident or falls ill.

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MARKET SHARE

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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;

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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.

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ORGANIZATIONAL

CHART

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ZAH: Zone Agency Heads

BOS: Branch Officer Sales

JSO: Junior Sales Officer

SE: South East

SW: South West

CBD: Connaught Place

DIR.: Director

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MANAGING DIRECTOR

ZAHSOUTH

ZAH SE

ZAHMUMBAI

ZAHNORTH

ZAH WEST

ZAH DELHI

ZAHEAST

ZAH SW

BOS JSO BOS JSO

LOTUS CBD NOIDA MOTI Ngr

DIR. OF AGENCY

DIR. ALT. CHANNEL

DIR. OF TRAINING

DIR. BNKASSRNC

DIR. RURAL INSURANCE

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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

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combines the trust and integrity of the Tata Group with the expertise & financial

strength of American International Group, Inc.

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

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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.

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

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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

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

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FINANCIAL ADVISOR

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

27%40%

Trg. SUPPORT

ProductionSales

Presentation Telecalling

Tier1 Mgr

BA

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SENIOR FINANCIAL ADVISOR

BUSINESSASSOCIATE

36 (27+9)policies+

>45,000 commission(12 months)

32%8% avg. bonus

Products

Skills

Tier2 Mgr

BA

Office space

Phone Line

BA Mgr

Sr. BA Mgr

25%1,00,00020+

Example

40%

( Av. Earning- Rs.5000 )

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RECRUITMENT & DATA

COLLECTION

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RECRUITMENT

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

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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.

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

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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.

OBJECTIVE OF THE RESEARCHOBJECTIVE 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.

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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.

TYPES OF DATATYPES 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

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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.

DATA COLLECTIONDATA COLLECTION

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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.

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

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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.

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THE SELECTION

PROCESS

SELECTION PROCESS

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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.

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SELECTION

PROCEDURE

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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.

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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.

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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.

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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.

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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.

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Being an opinion survey the personal biases of independent

respondents might have entered his/her opinion.

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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

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www.tata-aig/life.com

www.aig.com

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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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