A

PROJECT REPORT
ON
“TRAINING & RECRUITMENT
OF
LIFE INSURANCE AGENT”
AT
BHARTI AXA LIFE INSURANCE COMPANY LIMITED
GUWAHATI BRANCH

Submitted By
MD. RIYAJ SHAH
nd
Roll No. 059/MFW Batch No. 2010-2012 (MBA 2 Sem.)

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

Session (2010-2012),
Darwin School of Business, Guwahati, Assam.
 PREFACE
Practical training is an important part of management courses. Theoretical studies are not
sufficient to get into corporate world and understand the complexities of large-scale
organizations.

Practical training exposes us to real practices of management in the organization. It also exposes
students to the treasures of experience, knowledge and leaning which prerequisites of making a
successful career are.

I deem it privilege to have undergone this project. I acknowledge that the practical training that I
got from this cannot be gained otherwise. I found my project very interesting and challenging.

(Md. Riyaj Shah)

Roll No. 59
nd
MBA 2 Semester
 STUDENT DECLARATION

I hereby declare that study of “training and recruitment of life insurance agent” has been
exclusively done by me for the degree of MASTERS OF BUSINESS ADMINISTRATION and
not for any other degree, Diploma or fellowship. This is my own study done under the guidance
of Mrs. Gul Mohan Sharma, Agency Development Managers of the company.
I hereby declare that the contents of this report are true and best to my knowledge.

(Md. Riyaj Shah)

Roll No. 59
nd
MBA 2 Semester
 DECLARATION

This is to certify that the project report entitled “training and recruitment of life insurance
agent” submitted for the degree of MBA for Darwin School of Business, Affiliated to Punjab
st th
Technical University – from (21 May, 2011 to 24 June, 2011)” is a benefited research work
carried by Md. Riyaj Shah, student of Darwin School of Business.
This assistance and help received during the course of investigation have been fully
acknowledged.

Project Co-coordinator
 Brief summary
Introduction:
A general term „insurance‟ is related to service sector. Insurance is concerned with the protection
of economic value of assets. For example in case of a factory or a cow, the product generated by
it is sold and income is generated. In this project the Bharti AXA Life Insurance Company is
undertaken which is one of the popular sector insurance sectors. The analysis of “Bharti AXA
Life Insurance” is taken from different sectors.
For creating strong relationship and for a success full business every insurance company required
financial planner.

Objective of the study:

How to recruit agents for Bharti-AXA life insurance.
To introduce Bharti AXA to those people who don‟t have any knowledge about Bharti AXA
and its products and services.
To understand the process of recruitment and selection of agent in life insurance.
Why people are not willing to work as an agent in life insurance sector especially with
private companies.

Need of the study:

The study is undertaken to know how many people are interested to work as life insurance agent
in Bharti AXA and their thinking about the Bharti AXA Life Insurance Company or about private
insurance company.

Conclusion:
In India, there is throat cut competition in the market of life insurance that brand service which
adopt new strategies for sales. I concluding the whole story it can be said that people are much
more aware about the aspects of life insurance and also have knowledge about the role and act of
agent but mostly people unwilling to work as life insurance agent and mostly people prefer to
work with LIC because it is a semi government corporation.
 Table of Contents
CHAPTER PARTICULARS PAGE NO.

NO.
CHAPTER 1 INDUSTRY PROFILE 7-15

CHAPTER 2 COMPANY PROFILE 16-30

CHAPTER 3 INTRODUCTION OF RECRUITMENT AND 31-45

SELECTION PROCESS OF AGENT

CHAPTER 4 RESEARCH METHODOLOGY 46-48

OBJECTIVES OF THE STUDY

CHAPTER 5 DATA PRESENTATION AND 48-53

INTERPRETATION
CHAPTER 6 LIMITATIONS AND FINDINGS 53-54

CHAPTER 7 CONCLUSION AND SUGGESTIONS 54-55

CHAPTER 8 BIBLIOGRAPHY 56
Industry Profile
WHAT IS INSURANCE

The business of insurance is related to the protection of the ECONOMIC VALUES OF ASSETS.
Every asset has a value. The asset would have been created through the efforts of the owner. The
asset would have been created through the efforts of the owner. The asset is valuable to the
owner, because he expects to get some benefits form it. It is a benefit because it meets some of
his needs. The benefit may be an income or in some other form. In the case of a factory or a cow,
the product generated by it is sold and income is generated. In the case of a motor car, it provides
comfort and convenience in transportation. There is no direct income. Both are assets and
provide benefits.

Every asset is expected to last for a certain period of time during which it will provide the
benefits. After that, the benefit may not be available.

There is a life-time for a machine in factory or a cow or a motor car. None of them will last
forever. The owner is aware of this and he can so manage his affairs that by the end of that period
or life-time, a substitute is made available. Thus he makes sure that the benefit is not lost.
However, the asset may get lost earlier. An accident or some other unfortunate event may destroy
it or make it incapable of giving the benefits. An epidemic may kill the cow suddenly. In that
case, the owner and those enjoying the benefits therefore, would be deprived of the benefits. The
planned substitute would not have been ready. There is an adverse or unpleasant situation.
Insurance is a mechanism that helps to reduce the effects of such adverse situations. It promises
to pay to the owner or beneficiary of the asset, a certain sum if the loss occurs.
 HISTORY OF INSURANCE
Insurance has been known to exist in some form or other since 3000 BC. The Chinese traders,
traveling treacherous river rapids would distribute their goods among several vessels, so that the
loss from any one vessel being lost, would be partial and shared, and not total. The Babylonian
traders would agree to pay additional sums to lenders, as the price for writing off the loans, in
case of the shipment being stolen. The inhabitants of Rhodes adopted the principle of general
average of „general average‟, whereby, if goods are shipped together, the owners would bear the
losses in proportion, if loss occurs, due to jettisoning during distress. {Captains of ships caught
in storms, would throw away some of the cargo to reduce the weight and restore balance. Such
throwing away is called jettisoning} The Greeks had started benevolent societies in the late 7 th
century AD, to take care of the funeral and families of members who died. The great fire of
London in 1666,in which more than 13000 house were lost, gave a boost to insurance and the
first fire insurance company, called the fire office, was started in 1680.
The origins of insurance business as in vogue at present, is traced to the Lloyd‟s Coffee House in
London. Traders, who used to gather in the Lloyd‟s coffee house in London, agreed to share the
losses to their goods while being carried by ships. The losses used to occur because of pirates
who robbed on the high seas of because of bad weather spoiling the goods or sinking the ship. In
India, insurance began in 1818 with life insurance being transacted by an English company, the
Oriental Life Insurance Co. in 1870 in Mumbai. This was followed by the Bharat Insurance co.
in 1896 in Delhi, the Empire of India in 1897 in Mumbai, The United India in Chennai, the
National, the National Indian and Hindustan Cooperative in Kolkata.

Later, were established the cooperative Assurance in Lahore, the Bombay Life (originally
called the swadeshi life), the India Mercantile, the new India and the Jupiter in Mumbai
and the Lakshmi in New Delhi. These were all Indian companies started as a result of the
swadeshi movement in the early 1900s. By the year 1956, when life insurance business
was nationalized and the life Insurance Corporation of India (LIC) was formed on1st
September 1956, there were 170 companies and 75 provident fund societies transacting
life business in India. After the amendments to the relevant laws in 1999, the L.I.C. did
not have the exclusive privilege of doing life insurance business in India. By 31.8.2007,
sixteen new life insurers had been registered and were transacting life insurance business
in India.
 The History of Insurance in India

Some of the important milestones in the life insurance business in India are:

1912 - The Indian Life Assurance Companies Act enacted as the first statute to regulate the life
insurance business.

1928 - The Indian Insurance Companies Act enacted to enable the government to collect statistical
information about both life and non-life insurance businesses.

1938 - Earlier legislation consolidated and amended to by the Insurance Act with the objective of
protecting the interests of the insuring public.

1956 - 245 Indian and foreign insurers and provident societies taken over by the central
government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956,
with a capital contribution of Rs. 5 crore from the Government of India.

The General insurance business in India, on the other hand, can trace its roots to the
Triton Insurance Company Ltd., the first general insurance company established in the
year 1850 in Calcutta by the British.
 Life Insurance a Basic Need

Life insurance is a contract providing for payment of a sum of money to the person assured or,
failing him, to the person entitled to receive the same, on the happening of certain event.

A family is generally dependent for its food, clothing and shelter on the income brought in at
regular intervals by the bread winner of the family. So long as the he lives and the income is
received steadily, that family is secure; but should death suddenly intervene the family may be
left in a very difficult situation and sometimes, in stark poverty.

Uncertainty of death is inherent in human life. It is this uncertainty that is risk, which gives rise
to the necessity for some form of protection against the financial loss arising from death;
insurance substitutes this uncertainty by certainty.

Few Advantages of Life Insurance

1. It is superior to an ordinary savings plans:

This is so because unlike other saving plans, it affords full protection against risk of death. In
case of death, the full sum assured is made available under a life assurance policy; whereas under
other savings schemes the total accumulated savings alone will be available. The latter will be
considerably less than the sum assured, if death occurs during early years.

2. Insurance encourages and forces thrift:

A savings deposit can be too easily withdrawn. Many may not be able to resist the temptation of
using the balance for some less worthy purpose. On the other hand, the payment of life insurance
premiums becomes a habit and comes to be viewed wit the same seriousness as the payment of
interest on a mortgage. Thus insurance, in effect brings about compulsory saving.

3. Easy settlement and protection against creditors:

The life assured can name a person or persons to whom the policy moneys would be payable in
the event of his death. The proceeds of a life insurance policy can be protected against. The
claims of the creditors of the life are assured by effecting a valid assignment of the policy. A
married women‟s property act policy constitutes a trust in favor of the wife and children and no
separate assignment is necessary. The beneficiaries are fully protected from creditors except to
the extent of any interest in the policy retained by the assured.

4. Administering the legacy for beneficiaries:

It often happens that a provision which a husband or father has made through insurance is
quickly lost through speculative or unwise investment or by unnecessary expenditure on
luxuries. These contingencies can be provided against in the case of insurance. The policyholder
can arrange that in the in the event of his death the beneficiary should receive, instead of a single
sum (a). payment of the net claim amount by equal installments over a specified period of years,
or (b).payment of the claim amount by smaller monthly installments over the selected period
followed by a lump sum at the end thereof.

5. Ready marketability and suitability for quick borrowings:

After an initial period, if the policy holder finds him unable to continue payment of premiums he
can surrender the policy for a cash sum. Alternatively he can tide over a temporary difficulty by
taking loan on the sole security of the policy without delay. Further a life insurance policy is
sometimes acceptable as security for a commercial loan.

6. Tax relief:

For computing income tax (especially in India the Indian income tax act) follows deduction from
income tax payable, a certain percentage of a portion of the taxable income of individuals which
is diverted to payment of insurance premiums. When this tax relief is taken into account it will
be found that the assured is n effect paying a lower premium for his insurance.

How Insurance Works

The mechanism of insurance is very simple. People who are exposed to the same risks come
together and agree that, if any one of the members suffers a loss, the others will share the loss
and make good to the person who lost. All people who send goods by ship are exposed to the
same risk related to water damage, ship sinking, piracy, etc. those owning factories are not
exposed to these risks, but they are exposed to different kinds of risks like, fire, hailstorms,
earthquakes, lightening, burglary, etc. like this, different kinds of risks can be identified and
separate groups, made including those exposed to such risks. By this method, the risk is spread
among the community and the likely big impact on one is reduced to smaller manageable
impacts on all.

If a Jumbo Jet with more than 350 passenger‟s crashes, the loss would run into several crores of
rupees. No airline would be able to bear such a loss. It is unlikely that many Jumbo Jets will
crash at the same time. If 100 airline companies flying Jumbo Jets, come together into an
insurance pool, whenever one of the jumbo jets in the pool crashes, the loss to be borne by each
airline would come down to a few lakhs of rupees. Thus, insurance is a business „sharing‟.

Role of Insurance in Economic Development

For economic development, investments are necessary. Investments are made out of savings.
A life insurance company is a major instrument for the mobilization of savings of people,
particularly from the middle and lower income groups. These savings are channeled into
investments for economic growth.
An insurance company‟s strength lies in the fact that huge amounts come by way of
premiums. Every premium represents a risk that is covered by that premium. In effect,
therefore, these vast amounts represent pooling of risks. The funds are collected and held
in trust for the benefit of the policyholders.

The management of insurance companies is required to keep this aspect in mind and make all
its decisions in ways that benefit the community. This applies also to its investments. This
is why successful insurance companies would not be found investing in speculative
ventures. Their investments benefit the society at large.

The system of insurance provides numerous direct and indirect benefits to the individual and
his family as well as to industry and commerce and to the community and the nation as a
whole. Those who insure, both individuals and corporate, are directly benefited because
they are protected from the consequences of the loss that may be caused by the accident
or fortuitous event. Insurance, thus, in a sense protects the capital in industry and releases
the capital for further expansion and development of business and industry.

The very existence of risk that is, uncertainty concerning the future, is a severe handicaps in
economic activities. Insurance removes the fear, worry and anxiety associated with this
future uncertainty and thus encourages free investment of capital in business enterprises
and promotes efficient use of existing resources.

Thus insurance encourages commercial and industrial development and there by contributes
to a vigorous economy and increased national productivity.

Present day organization of industry, commerce and trade depend entirely on insurance for
their operation, banks and financial institutions lend money to industrial and commercial
undertakings only on the basis of the collateral security of insurance. No bank or
financial institution would advance loans on property unless it is insured against loss or
damage by insurable perils.

Insurers are closely associated with several agencies and institutions engaged in fire loss
prevention, cargo loss prevention, cargo loss prevention, industrial safety and road safety.
Before acceptance of a risk, insurers arrange survey and inspection of the property to be
insured, by qualified engineers and other experts.
 The object of these surveys is not only to assess the risk for rating
purposes but also to suggest and recommend to the insured, various
improvements in the risk, which will attract lower rates of premium
and what is more important , reduce the loss potential. For example,
burglary surveyors make recommendation in regard to security
measures such as better locking system, appointment of Watchman,
etc. Engineering surveys play a most useful part in accident
prevention as valuable technical advice is provided in respect of plant
and machinery.

Insurance ranks with export trade, shipping and banking services as

earner of foreign exchange to the country. It helps to earn foreign
exchange and represent invisible exports.

List of Insurance Companies Listed in Different

Years

List of Life Insurance Companies

S.No. Registration Date of Reg. Name of the Company
Number
1 101 23.10.2000 HDFC Standard Life Insurance Company Ltd.
2 104 15.11.2000 Max New York Life Insurance Co. Ltd.
3 105 24.11.2000 ICICI Prudential Life Insurance Company Ltd.
4 107 10.01.2001 Kotak Mahindra Old Mutual Life Insurance Limited
5 109 31.01.2001 Birla Sun Life Insurance Company Ltd.
6 110 12.02.2001 Tata AIG Life Insurance Company Ltd.
7 111 30.03.2001 SBI Life Insurance Company Limited .
8 114 02.08.2001 ING Vysya Life Insurance Company Private Limited
9 116 03.08.2001 Bajaj Allianz Life Insurance Company Limited
10 117 06.08.2001 Metlife India Insurance Company Ltd.
11 133 04.09.2007 Future Generali India Life Insurance Company Limited
12 135 19.12.2007 IDBI Fortis Life Insurance Company Ltd.
13 102 23.10.2000 Royal Sundaram Alliance Insurance Company Limited
14 103 23.10.2000 Reliance General Insurance Company Limited.

15 106 04.12.2000 IFFCO Tokio General Insurance Co. Ltd

16 108 22.01.2001 TATA AIG General Insurance Company Ltd.
17 113 02.05.2001 Bajaj Allianz General Insurance Company Limited
18 115 03.08.2001 ICICI Lombard General Insurance Company Limited.
19 131 03.08.2007 Apollo DKV Insurance Company Limited
20 132 04.09.2007 Future Generali India Insurance Company Limited
21 134 16.11.2007 Universal Sompo General Insurance Company Ltd.
22 121 03.01.2002 Reliance Life Insurance company Ltd.
23 122 14.05.2002 Aviva Life Insurance Co. India Pvt. Ltd.
24 127 06.02.2004 Sahara India Insurance Company Ltd.
25 128 17.11.2005 Shriram Life Insurance Company Ltd.
26 130 14.07.2006 Bharti AXA Life Insurance Company Ltd.
27 133 04.09.2007 Future general Indai life Insurance Co.Ltd
28 135 19.12.2007 IDBI Fortis Life Insurance Company Ltd.
29 136 08.05.2008 Canara HSBC Oriental Bank of Commerce Life
Insurance Company Ltd.
30 138 27.06.2008 Aegon Religare Life Insurance Company Ltd.
31 140 27.06.2008 DLF Pramerica Life Insurance Company Ltd.

List of General Insurance Companies

1 123 15.07.2002 Cholamandalam General Insurance Company Ltd.

2. 124 27.08.2002 Export Credit Guarantee Corporation Ltd.
3. 125 27.08.2002 HDFC-Chubb General Insurance Co. Ltd.
1 139 27.06.2008 Bharti Axa General Insurance Company Ltd.
2 141 15.12.2008 Raheja QBE General Insurance Co. Ltd
Company
Profile
 History of Bharti AXA Life Insurance

Bharti AXA Life Insurance is a joint venture between Bharti, one of India‟s leading business
groups with interests in telecom, agri-business and retail, and AXA, world leader in financial
protection and wealth management. The joint venture company has a 74% stake from Bharti and
26%stake of AXA.

The company launched national operations in December 2006. Today, company have over 8000
employees across over 12 states in the country and a national footprint of distributors trained to
provide quality financial advice and insurance solutions to the large Indian customer base. Open
first branch office in Hyderabad. Introduces 2 unit linked products- “future confident‟ and
„wealth confident‟

As we further expand our presence across the country with a large network of distributors, we
continue to provide innovative product and service offerings to cater to specific insurance and
wealth management needs of customers. Whatever your plans in life, you can be confident that
Bharti AXA Life will offer the right financial solutions to help you achieve them.
Bharti-AXA perform over following cities

Hyderabad

Mumbai
Delhi

Bangalore

Kolkata

Chennai

Ahmedabad

Ludhiana

Lucknow

Surat

Kochi

Indoor

Chandigarh

Vadodra

Bhubneshwar

Jaipur

Mohali

Guwahati
 Vision
To be a leader and the preferred company for financial protection and wealth management in
India

Professionalism

Team Spirit Innovation

Value
 Integrity
Pragmatism

Strategy
To achieve a top 5 market position in India through a multi-distribution, multi-product platform

To adapt AXA's best practice blueprints as a sound platform for profitable growth

To leverage Bharti's local knowledge, infrastructure and customer base

To deliver high levels of shareholder return

To build long term value with our business partners by enhancing the proposition to their customers

To be the employer of choice to attract and retain the best talent in India

To be recognized as being close and qualified by our customers

 Bharti Group

Bharti Airtel Ltd

Bharti Airtel Ltd is one of Asia's leading telecommunications service providers. The Company is
India‟s largest integrated telecom company in terms of customer base and offers Mobile
Services, Fixed Line services, Broadband & IPTV, DTH, Long Distance and Enterprise services.
Airtel also offers mobile services in Sri Lanka on a state-of-the art 3.5 G network.

Bharti TeleTech Ltd

Bharti Teletech is India‟s leading telecom & allied Products Company. It is one of the largest
manufacturers of landline telephones in the world. With a strong distribution network across the
country, the company is also the primary distributor of IT and Telecom products from
international brands such as Motorola, Blackberry, Thomson, Polycom, Transcend, and Logitech.
Telecom Seychelles Ltd
A subsidiary of Bharti, Telecom Seychelles Ltd provides comprehensive telecom services
including 3G mobile services in Seychelles, under the „Airtel‟ brand.

Comviva Technologies Ltd

Comviva is the leading provider of integrated VAS solutions for mobile operators in emerging
markets. Among the top 3 global providers of integrated VAS solutions in rapidly growing
markets, Comviva has deployed solutions for over 100 mobile operator customers in over 80
countries worldwide.

FieldFresh Foods Pvt. Ltd.

FieldFresh Foods Pvt. Ltd., is a venture between Bharti Enterprises and Del Monte Pacific
Limited, to offer fresh and processed fruits and vegetables in the domestic as well as
international markets, including Europe and the Middle East.

Bharti Retail Pvt Ltd

Bharti Retail is a wholly owned subsidiary of Bharti Enterprises. Bharti Retail operates a chain
of multiple format stores that offer consumers affordable prices, great quality and wider choice.
The company‟s neighbourhood format stores operate under the "Easyday" brand and the
compact hypermarket format under the “Easyday market” brand.

Bharti AXA General Insurance Company

Bharti AXA General Insurance is a joint venture between Bharti Enterprises and AXA, world
leader in financial protection and wealth management. The company was incorporated in July
2007 and offers a full suite of general insurance solutions to meet the needs of businesses and
individuals alike.

Bharti AXA Life Insurance Company

Bharti AXA Life Insurance Company Ltd is a joint venture between Bharti Enterprises and AXA,
world leader in financial protection and wealth management. The company offers a range of life
insurance and wealth management products with an endeavour to help customers lead a
confident life.

Bharti AXA Investment Managers Pvt. Ltd.

Bharti AXA Investment Managers Pvt. Ltd., an asset management company in India, is a joint
venture between Bharti Enterprises, AXA Investment Managers (AXA IM) and AXA Asia
Pacific Holdings (AXA APH).

Centum Learning Limited

Centum Learning Limited provides end-to-end learning and skill-building solutions to several
large corporate. It provides solutions that impact business performance through enhanced
employee productivity, customer profitability and effective talent transformation.

Jersey Airtel Ltd

Jersey Airtel, a subsidiary of Bharti, offers world-class mobile services in Jersey (Channel
Islands) over its full 2G, 3G and HSDPA enhanced network. The Company brings market-
leading products and services to its customers under Airtel-Vodafone brand.

Bharti Foundation
Bharti Foundation was set up in 2000, with the vision, “To help underprivileged children and
young people of our country realize their potential”. It aims to create and support programs that
bring about sustainable changes through education and the use of technology and information.

Bharti Realty
Bharti Realty Limited is a young, vibrant and dynamic realty company with expanding interests
in commercial, retail and residential real estate. Bharti Realty aims to be amongst the most
admired real estate players in India and aspires to attain highest degree of customer trust through
superior product design and maintaining an uncompromising stand towards environmental
responsibility, ethics and safety

Bharti Infratel
Bharti Infratel, a wholly owned subsidiary of Bharti Airtel, provides passive infrastructure
services on a non-discriminatory basis to all telecom operators in India. Bharti Infratel also holds
approximately 42% stake in Indus Towers, a joint venture between Bharti, Vodafone and Idea to
offer passive infrastructure services.
 Bharti Enterprises
Bharti Airtel Ltd:
Bharti Airtel Ltd is India‟s leading provider of telecommunications service. The company
has 4 distinct Business divisions- mobile and telephone services, broadband services, long
distance services and enterprise services,
Bharti Teletech Ltd

Bharti Teletech Ltd manufactures and exports world-class telecom equipment under the
brand
„Beetel‟.
Telecom Seychelles Ltd

Telecom Seychelles ltd provides telecom services in Seychelles, under the brand „Airtel‟.
Bharti AXA Life Insurance

Bharti AXA Life Insurance is a joint venture between Bharti, one of India‟s leading business
groups with interests in telecom, agri business and retail, and AXA, world leader in financial
protection and wealth management. The joint venture company has a 74% stake from Bharti
and 26%stake of AXA.
Bharti Telesoft Ltd

Bharti Telesoft Ltd delivers best-in-class, Revenue-

critical Vas products and service to telecom carriers,

Tele Tech Service Ltd

Tele Tech Service (India) Ltd is Joint venture with Tele Tech Inc., U.S.A. It offers a range of
Customer Management Services.
Field Fresh Foods Pvt Ltd
 Field Fresh Foods Pvt Ltd is Bharti‟s Venture with EL Rothschild Group owned ELRO
holding
India Ltd., to export fresh Agricultural products exclusively to markets in Europe and USA.
AXA

AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse
geographically, with major operations in Western Europe, North America and the
Asia/Pacific area. AXA had Euro 1,315 billion in assets under management as of December
31, 2006. For full year 2006, IFRS revenues amounted to Euro 79 billion, IFRS underlying
earnings amounted to Euro 4,010 million and IFRS adjusted earnings to Euro 5,140 million.

The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock
Exchange. The AXA American Depository Share is also listed on the NYSE under the ticker
symbol AXA.
AXA Asia Pacific Holdings

AXA Asia Pacific Holdings Ltd (AXA APH) is listed on the Australian stock exchange and is
52.3% owned by AXA SA. AXA APH is responsible for AXA SA‟s life insurance and wealth
management businesses in the Asia-Pacific region. It has operations in Australia, New
Zealand, Hong Kong, Singapore, Indonesia, Philippines, Thailand, China, India and
Malaysia. AXA APH had A$106.4 billion in total funds under management and
administration at 30 June 2007 and reported a profit after tax before non-recurring items of
A$374.0 million for the six months ended 30 June 2007.
 Products of Bharti-AXA Life Insurance

Bright stars
This is a regular premium unit-linked insurance policy, which, which offers you the twin benefits of
protecting your loved ones and creating wealth for them over the desired period.

As a caring parent, you want only the best for your child. As your child grows, his aspirations
will grow too and so will your responsibilities. Whether it‟s higher studies abroad, a grand
wedding or a comfortable home … you can now ensure that your child is always one step
ahead

You can fulfill all the dreams you have for your child, and give him what he deserves. A bright future!

The plan also offers the flexibility to make modifications, depending on the changing needs of
your child. As his dreams grow, the plan will grow too… so financial hurdles will never come
in the way of his growing dreams! With Bharti AXA Life Bright Stars,

Parameter Eligibility

Minimum age at entry 18 years

Maximum age at entry 70 years minus policy benefit period chosen.

E.G: for policy benefit period of 17 years, the

maximum age at entry is 53 years.

Maximum age at maturity 70 years

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

Rs18,000 p.a. for monthly mode

Premium modes Annual, semi-annual and monthly

Policy benefit periods available 7 years,10 years,15 years, 17 years and 20 years

Minimum top-up premium Rs. 2,500

 Spot Suraksha
Introduction
Spot Suraksha is a unit liked insurance product, which offers you an instant insurance
protection and benefit of wealth creation in the long-term.

Main Advantages of Spot Suraksha

Understand the product:(Read and understand the product brochure)

Answering the simple health related questions, Sign up the simple application form, submit photograph,
proofs for identity, address and age.
A cover note is issued to policy holder and insurance cover starts instantly.

100% allocation of premium- Full allocation of premium to the Investment Fund, according to policy
nd
holder choice from 2 year onwards.
A guaranteed special addition equal to 130% of annualized premium in the first policy year is added in
the policy fund at maturity or death, which is earlier.

PARAMETER ELIGIBILITY

Minimum age at entry 5 years

Maximum age at entry 55 years

Maximum age at maturity 70 years

Minimum premium Rs. 12,000 p.a

Premium Modes Annual, Semi-annual and monthly

Policy term 15 years

Minimum top up premium Rs. 5,000

Dream life pension

Let you live your retired life king-size
This plan is made for old persons and to make them self independent and live a life of dignity
and self-respect. Today you are busy climbing the ladder of success and realizing your dreams.
Today, time is with you. Just take a moment and think. The Bharti AXA Life Dream life pension
gives you:
A post retirement income for life.

Policy holder choose the age at which he/she would like to retire (vesting age), which
determines your premium paying term. Alternatively you can opt for single premium
payment.

PARAMETER ELIGIBILITY

Minimum age at entry 18 years

Maximum age at entry 70 years

Minimum age at vesting 45 years

Maximum age at vesting 80 years

Premium modes Singlepay,yearly,Half-yearly

,Quarterly and monthly

Minimum premium Annual Regular Premium:

Rs.12, 000 p.a.

Minimum policy term 10 years

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

up premium and top up allowed only

after first policy year.

 MERIT PLUS
This is a regular premium unit-linked insurance policy which offers you the twin benefits of
protection against financial loss in the unfortunate event of the death and helping you to create
wealth systematically over the long-term. Hence this product is suitable for your long-term
objective like retirement planning, children‟s future and giving a total protection to you and
your family.

PARAMETER ELIGIBILITY

Minimum age at entry 0 year

Maximum age at entry 60 years (For death benefit option A)

55 years (For death benefit option b)

Maturity age 80 years (for death benefit option A)

75 years (for death benefit option B)

Policy benefit period 80 year less age at entry (for death

benefit option A)
75 years less age at entry (For death
benefit option B)

Premium payable period Yearly, Half-Yearly And Monthly

Minimum premium Rs.10,000

Minimum Top-up premium 500

Benefits of Bharti AXA Life merit plus

In merit plus the policy holder must have to choice one option out of the two.
Sum assured(less all partial withdrawals made form the basic policy fund during the 12
months prior to the date of death of life assured) or the policy Fund Value as on the date
of intimation of death, which is higher, will be paid.
 The sum of sum assured and the policy fund value as on the date of intimation of death will
be paid.

Future confident
Future confident is a suitable product for you, if your objective is long-term targeted wealth
creation over 15-20 year, either for your own retirement or for your children‟s future, while at
the same time providing your family enhance financial protection.

PARAMETER ELIGIBILITY

Minimum age at entry 0 year

Maximum age at entry 60 years

Maturity age 70 years

Policy benefit period 70 year less age at entry

Premium payable period Yearly, Half-Yearly, quarterly and

Monthly

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

2,500 for quarterly and Rs.834 for

monthly premium

Minimum Top-up premium 500

 Secure Confidence

Provide complete financial protection to your family, even when you are not there.
Secure confident is suitable to you if your objective is to protect your family against any
financial loss caused due to unfortunate death, disability due to an accident or critical illnesses
which may deprive them of a secured future.

Parameter Eligibility

Minimum age at entry 18 years

Maximum age at entry 55 years

Minimum sum assured Rs.5 ,00,000

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

Rs.405 for quarterly and Rs.135 for

monthly premium

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

Maximum age at maturity. 60 years

Premium paying term Equal to the policy benefit period.

On death On survival

A sum assured is paid to the policy holder The policy shall be terminated and no
or nominee and the policy shall be monies shall be payable to the policy

terminated. holder.
 Introduction of the process
of recruitment and selection
of agent

Objectives of the study

To understand the process of recruitment and selection of agent in Bharti AXA life insurance.
On The project gave a practical exposure and helps in acquiring the on road skills.
How to recruits agent for Bharti-AXA life insurance
To know about the view of general public about the job of agent
Why people are not willing to work with as an agent, especially with private player.

To introduce Bharti AXA to those people who don‟t have any knowledge about Bharti AXA and its
products and services.

Meaning of Recruitment
Finding the right people is a make-or-break factor for success in business today. Recruiting the
top talent for a job takes time and you have to attract quality candidates who have the knowledge
and skills needed to help your company grow.

The fact is, your success with recruitment depends on how well you prepare your job ad, and use
source of recruitment, and your interviewing skills.

Prepare a job ad that works to start, you want to be sure that your potential candidate truly
understands the job. The clearer you are with the task description, working conditions and
advantages, the less time you will waste examining and rejecting applications

The essentials of any job description are:

A brief description of your company

Detailed outline of the tasks involved

Qualifications and experience required
Equipment and resources used to do the work
Skills required using them.

However, you should also include work benefits (e.g., vacation, travel and perks), general
working conditions (e.g., scheduling, outside work) and the specific traits required (e.g. Team
Building and Communications skills). Ultimately, you want to be perceived as an attractive
employer in a competitive market.

Find the right recruitment vehicle choose the vehicle that best works for your company,
depending on your budget and resources.

Word of mouth, or simply telling your employees, friends and colleagues about a job opening, is
a less expensive strategy but generates fewer candidates. The advantage is that you already know
something about your recruiters and their skills, knowledge and achievements. This is a preferred
method with companies that have a finder's fee program for their employees.

Advertising is a toss of the dice. If it goes well, it can help you find ideal candidates in a
regional, national, or international pool. If not, it's a costly investment yielding few results. Make
sure to factor in the time it takes to go through
a large number of resumes.
Employment agencies cost more but generally provide a good range of candidates. The
employment advisors look at your needs, screen a number of candidates, and only send you the
applications that meet your requirements. Bear in mind that the largest employment agencies do
not necessarily offer the best choice of candidates. There are numerous agencies that specialize
in recruitment in specific sectors.

Recruiting online such as monster.ca, workopolis.com and jobboom.com. These can provide
inexpensive, worldwide access to employees. In fact, 65% of job seekers now have access to
these types of services. Using the Internet for recruiting usually involves regular visits to
specialized recruitment sites, joining newsgroups, and posting your job openings on recruitment
sites, electronic publications and on your own Web site.

After recruitment the next part is selection of best candidates.

Make the interview deliver

Since the purpose of an interview is to identify and verify the candidate's potential, it should be
structured to bring out all the desired competencies and aptitudes. Remember that you have to
decide between the candidates: you could create a point system or analysis grid for comparing
their strengths and weaknesses.

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

Make a list in advance of the points for discussion and corresponding questions.

Present the candidates with a situation they could face on the job and ask them how they would
react. This will enable you to evaluate the candidates' knowledge, skills and work methods.

Ask the candidates to describe some difficult situations encountered in previous jobs and to
explain the way in which they were resolved. This will give you the chance to gauge the
candidates' self-confidence, creativity and problem-solving skills.

Ask the candidates to describe a difficult situation involving colleagues and how it was resolved.
This will enable you to test their aptitude for teamwork.

Ask the candidates about their ambitions and plans to ensure they fit your company profile.

Beware of asking questions about personal interests. They can get the interview off track or
annoy people who want to keep their work and private lives separate.
 Definition of Agent

According to section 182 of Indian contracts Act, an “agent” is a person employed to do any act
for another or to represent another in dealing with a third person. In the insurance industry,the
term “agent” is ordinarily applied to a person engaged by the insurer to procure new business.
The insurance Act definers and insurance agent as one who is licensed under Section 42 of that
Act and is paid by way of commission or otherwise, in consideration of his soliciting of
procuring insurance business, including business relating to the continuance, renewal or revival
of policies of insurance. He is, for all purposes, an authorized salesman for insurance and needs a
license.

An agent is one who acts on behalf of another. The “another” on whose behalf the agent acts, is
called the principal in this case. The insurance company is the principal in this case. The
lawyer is the agent of the client, when he argues the case in court. An ambassador is an agent
of his country. The agent represents the principal and acts on his behalf. Some insurers
designate their agents as „advisers”,” consultants” etc. as if they are independent advisor or
consultant would not be appointed by an insurance company. He would be knowledgeable
enough as a person to be approached for advice or consultation. Some insurance agents may
acquire that status. All insurance agents should strive to attain that status.

Procedure for becoming an Agent

The insurance Act, 1938 lays down that an insurance agent must possess a license under Section
42 of that Act. The license is to be issued by the IRDA. The IRDA has authorized designated
persons, in each insurance company, to issue the licenses on behalf of the IRDA.

In terms of the Insurance Act, a license will not be given if the person is
minor,
found to be of unsound mind,
found guilty of criminal misappropriation or criminal misappropriation or criminal breach of
trust or cheating or forgery or an abetment of or attempt to commit any such offence
found guilty of or knowingly participation in or conniving at any fraud, dishonesty or
misrepresentation against an insurer or an insured,
not possessing the requisite qualifications and specified training,
Found violating the code of conduct as specified in the regulations.

The fee for a license is Rs.825 for individual. A license is granted for 3 years. It may be
renewed after 3 years and again valid for 3 years.
A license issued by the IRDA may be to act as an agent for a life insurer, for a general insurer or
as a composite insurance agent working for a life insurer as sell as a general insurer. No agent is
allowed to work for more than one life insurer or more than one general insurer.

The Qualifications necessary before a license can be given are that the person must be

Not a minor.
th
Have passed at least the 12 standard or equivalent examination, if he is to be appointed in a
th
place with a population of 5,000 or more. (10 standard otherwise.)

Have undergone practical training for at least 50 hours in life or general insurance business,
as the case may be, form an institution, approved and notified by the IRDA. IN the
case of a person wanting to become a composite insurance agent, the applicant should
have completed at least 75 hours practical training in life and general insurance
business, which may be spread over six to eight weeks.

d) Have passed the pre-recruitment examination conducted by the insurance India or any
other examination body authorized by the institute of IRDA.

The license once issued, can be cancelled whenever the person acquires a disqualification.
Applications for renewal have to make at least thirty days before the expiry of the license, along
either the renewal fee of Rs.250. If the application is not made at least thirty days before the
expiry, but is made before the date of expiry of license, an additional fee of Rs.100 is payable . If
the application is made after the date of expiry, it would be normally being refused.

Prior to renewal of the license, the agent should have completed at least 25 hours practical
training in life or general insurance business or at least 50 hours practical training in life and
general insurance business in the case of a composite insurance agent.

Insures who select agents for appointment, make arrangements for training, for appearing in the
prescribed examinations, and obtaining the license.

NOTE
The insurance Act provides, In Section 44, for payment of commission on renewal premium even
after termination of the agency. The commission will be limited to a rate not exceeding 4%, to be
eligible for this; the agent should have been an agent with that insurer for at least five years and
policies for at least Rs50,000 are in force one year before termination of agency or,10 year.

This commission will be payable to the heirs of the agent after the agent‟s death.
 FUNCTION OF AN AGENT
Understanding the prospect‟s needs and persuade him to buy a plan of life insurance that suits his
interests best.

Complete the formalities:- paper work, medical examination, which are necessary to get the policy
expeditiously.

Keep in touch to ensure that changing circumstances are reflected in the arrangements relating to
premium payments, nomination and other necessary alterations.
Facilitate quick settlement of claims.
Be totally honest with both the prospect and the insurer.
Not to induce prospects to submit wrong information.

Career with Bharti AXA

Opportunity to earn unlimited income.
Career Growth.
Be your own boss.
High quality training & Support to improve productivity.
Compensation amongst the best.
Club member benefits.

Payout structured to facilitate your cash flows better.

Best in class & competitive products.
Pension for life.

Recruitment Process

Develop a Profile

Develop sources of
 recruitment

Approaching the
Targeted recruits

Initial screening and

Interviews

Reality check

Sources of Recruitment

Controlled Uncontrolled

Natural Market Job Ads/Inserts

Central of Influence Placement Consultants

 Agent gets Agents Presentation / Seminar

Cold Prospecting

Data Base

Primary Secondary

Controlled Market
Natural market
Your family
Your friends
People at job/business
Neighbors

Extended Natural market

The following are sources of names:
People know through children.
People know through spouse.
People know through hobbies/ games.
People known through social groups
People known through public service.
People you do business with.
Friends of friends.

CENTRE OF INFLUNCE
People with influence and prestige, other member of society believe and faith on them.
People who have a big circle of relationships: like secretary in societies, president of an
association.
People who are known to you and are willing to help you.

People who have contacts with the class of people you want to deals with.
People who have faith in your leadership.

A centre of influence is a person who is in contact with many people through social, political,
religious or business angulations
Usually a respected individual with influence over the people with him/her is in contact.

Uncontrolled Sources
Job Ads/Inserts
This program should be on regular long range basis.
Example: Gul Mohan Sharma who is a relationship officer in Bhrati AXA Life Insurance
company put an ad in the newspaper, in which he called for the reader to phone him during a
specified 2 to 4 hours period on Monday or Sunday morning
From those who called Gul Mohan Sharma was able to eliminate more misfits (who are not
qualified) and arrange for two to six personal visits.

Placement consultants
MOA can recruit a placement consultant or register himself in internet job search sites to get list
of prospects.

Seminars/job fairs
Manager of agency can also organized seminars at
Management Institutions and Colleges.
OR
Bharti AXA Life Insurance Company participate in the job fairs and then short list
Prospects and then look for further opportunities for them.

Cold Prospecting
MOA can use the telephone directory.
MOA and Telecaller can use the directories of various business and social organizations.

Database

Primary data: Direct collection of data of from the source of information, technology including
personal interviewing, survey etc.
Secondary Data: Indirect collection of data from sources can be purchased from the open
market and various kind of database are available such as telephone databases of various
surveys.
 Point to be noted while recruiting the Agents
Mature and responsible family person.
Ambitious, hungry for recognition, challenges.
Occupation.
Experience and current designation.
For how many years he is living in the city.
Greedy person.
Occupation of parent.
Family income.
Any experience in life insurance sector.
Leadership qualities.
Social and amiable.

Sources for Recruitment and Selection of Agent

Used during Training

Natural Market Market Survey

Secondary Data
(Telephone Directory)

Telephone Script

Hello sir,

I am Md. Riyaj Shah from Bharti AXA. I want your few minute to speak.
Sir, Bharti AXA is going to expend the Business by recruiting quality people and offering them
the potential of a very rewarding career opportunity.

We have acquired your business card and we are aware of the company you work for and you are
one of the selective person with whom our company want to concern.
So I would like to meet you for coffee to explain the exciting and rewarding opportunity. It may
have for you in terms of career compensation and support.

(Excellent I look forward to meeting you please May I have your address and I will confirm our
meeting in writing)
OR
(According to your convenience will you please tell me when and where we can meet?)

Thank You Sir.

Step 1. Documents Required

Age proof.
Address proof.
Photo – 8.
Education proof.
Q score sheet.
Agency application.
Form V A.
Fill NAAF.

Step 2. Interview section

During the interview the senior manager/MOA asked following question to the candidate to
judge his ability and knowledge.
Qualification.
Present occupation.
Knowledge or experience in insurance sector
Tenor of stay in the town.
Number of family member.
Household income.

Occupation of parent.
If selected then the senior manager/MOA approve the application.
The managers take the help of scoring Mechanism. Scoring Mechanism was filled at the time
of apply.

Age Below 25 years Between 25-40 More than 40 Score

Scoring 0 2 1
mechanism

Marital status Unmarried married

1 2
Education
10th standard or graduate
Post graduate
th
12 standard
 1 2 2
Tenor of stay in Less than 3 3-5 years More than 5
city/town years years

0 1 2
Household Less than 2 2-5 lakhs More than 5
income lakhs lakhs

Total score

Q Score:
Acceptable Range of Score Greater than or equal to 7 Additional Approvals. 5 or 6
Rejected application if 4 or less
If the Q score is less than 7 then BSM/ARSM comments and signatures are required.

Step 3. Training

50 Hours Training and also provide a text book (IC-33 life insurance) for pre-recruitment
Examination for Life Insurance Agents, which is based on syllabus prescribed by insurance
Regulatory & Development Authority.

IRDA for short, has laid down that those who wish to become insurance agents will be given
licenses only after they complete a course of study, training and pass an examination prescribed
by it.

During this training the knowledge about the entire essential concept related to life insurance is
provided to agent. Insurers will have different practices and offer different benefits in their plans.
All of them will be based on these concepts. The details of the practices and the plans of each
insurer will have to be learnt from the respective insures.

Step 4. During training following things will be teaches.

What is insurance
Principles of life Assurance
Premiums and Bonuses
Life Insurance products
Underwriting
Insurance Documents
Policy conditions
Claims
Linked life insurance products
Insurance agency
Laws and Regulations
IRDA Regulation 2000.
IRDA Regulation 2002.

Step 5. Examination and Code

Examination is the second last part of the recruitment and selection process.
It include one hour test under, which contain 50 objective questions, one marks
each, Pass marks are 25.

There are two method of examination.

Online
Manual

In case of online the result is declared on the spot and in the case of manual result is declared
within one month.

After clearing the exam, ULIP training of two days will be given to the advisor about the product
of company and then agency code is generated.

OBJECTIVES
AND
RESEARCH
METHODOLGY
 Objectives of the study
To understand the process of recruitment and selection of agent in Bharti AXA life insurance.
On The project gave a practical exposure and helps in acquiring the on road skills.
How to recruits agent for Bharti-AXA life insurance.

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

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

To introduce Bharti AXA to those people who don‟t have any knowledge about Bharti AXA
and its products and services.

Research Methodology
Research Methodology is the investigation of specific problem in detail. At first problem is
defined carefully for conducting research. There should be a good research plan for conducting
research. No research can be done without data collection. After all this analyze is made for
getting solution for problem.
Defining the problem
Defining the sampling plan
Collection of data
Analyze and interpretation

Defining the problem

Defining the research problem is first necessary step for any research. This work should be done
carefully. Here research problem is to know wiliness of general public to work as an agent with
private player or Bharti-AXA life insurance.
Sampling plan
The sampling plan calls for three decisions.

Sampling Unit: I have completed my survey in GUWAHATI.

Sample Size: The selection of 20 respondents. The sample was drawn from College students. The
selection of the respondent was done on the basis of simple random sampling.
Contract methods

I have conducted the respondent through personal interviews.

Research Instrument
A close friend questionnaire was constructed for my survey. Questionnaire consisting of a set of
questions made to filled by various respondents.

Collecting the Information

After this, I have collected the information from the respondent with the help of questionnaire.

Analyze the Information

The next step is to extract the pertinent finding from the collected data. I have tabulated the
collected data & developed frequency distributions.
Thus the whole data was grouped aspect wise and was presented in tabular from. Thus,
frequencies & percentages were to render impact of the study.

Presentations of Findings
This was the last stop of the survey.

Data Presentation and Interpretation

Name: -
Location:-
Mobile no.
Address:-
Shop Type: - (Mobile stores, General store, Chemist etc. Please specify

Script

Bharti has expanded into new territories of business and they now offer the best
in class insurance products. This new venture is named Bharti-AXA.

Mr. Sunil Bharti Mittal is introducing insurance to Punjab and Chandigarh retailers and
would like to give you an opportunity to earn and setup a new income which can give
you 15-20% margin on an average.

In this business you only have to contact your known people or regular customers and
their references to introduce Bharti‟s product and get an appointment.

Post this, manager form Bharti-AXA will go, explain the product & close he sale for you.
You will in turn receive 15-20 % margin on sale. E.g. if a policy is sold by Bharti-AXA
manager for 10,000 you will receive 2,000.

We are here to understand your interest in this proposal specially designed by Mr. Sunil Bharti
Mittal for Punjab and Chandigar

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

Yes No
0, 0% 0, 0%

8, 20%

yes
32, 80%
no
 Only 20% Students were interested in taking up this business opportunity with Bharti.(8
students were interested in this activity)

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

½ hr 1-2 hrs 3-h hrs 5 hrs or more

0%
0%

2,25% half hour

1/2 to 2
2 to 4
6,75%
4 to 5

From the above 8 people, 6 people said that they can spend ½ hour for this activity daily.
2 said that they can spend ½ to 2 hours for this activity.

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

Yes No

0, 0% 0, 0%

8, 20%
no yes

32, 80%

80% of students at them have knowledge about insurance.

20% of students said that they have no knowledge about insurance.

 Do you have Experience as an agent?

YesNo

0, 0% 0, 0%

6, 15%

yes

34, 85% no

15% of students have experience in the field of life insurance.

85% of students have no experience in the field of life insurance.

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

0, 0%

1, 17%
LIC

3,50% HDFC
2, 33%
ICICI

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

33% (2) of students working with HDFC Standard Life insurance
33% (1) of students working with ICICI Prudential Life Insurance Co. Ltd.
Can you spare 1/2 day on training to understand to product and how can introduce it to
your customer?

Yes NO
Name: -
Location:-
Mobile no.
Address:-
Shop Type:- (Mobile stores, General store, Chemist etc. Please specify

0, 0% 0, 0%
4, 10%

Yes
36, 90% no

10 % of students were interesting to spare 1/2 day on training to understand to product.

QUESTIONNAIRE

Would you be interested in taking up this business opportunity with Bharti?

Yes

No

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

½ hr

1-2 hrs

3-h hrs

5 hrs or more
Do you have any knowledge of or experience in Insurance?

Knowledge

Yes

No

Experience

Yes

No

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

Can you spare ½ day on training to understand the product and how can introduce it to your
customer?

Yes

No

How many people do you know in this city?

Under 50

51-100

101-300

301-600

Above 600
 Limitation
I didn‟t get complete feed from the students about the question as they are busy in their work and had
less time to fill questioned.
Sincerity of answering the questions cannot be judged.

Time was the major constraint for me to understand the long process of recruitment and selection.
No money available for project ( My pocket expenditure )

Finding
Why people are not ready to work with private players in life insurance?
Or
Why people are not ready to work as an agent in any company?

In these days LIC created a very well image in the mind of General public because it is semi
Government Company and also an oldest company. In short most people of Indian believe
upon the LIC only.

During the training period we felt that most of people who are already working in insurance
sector think that it is easy to sell the product of LIC than to sell the product of other life
insurance company.

Most of people say that this job affects upon their social relation with other and also effect upon their
business.

Most of people believe that private insurance companies carried out fraud activity that‟s why they never
believe upon the private players.
People think that it is a time consuming activity and also required huge market skills.
Some people said that only greedy people like to work in insurance sector.

Conclusion
In India, there is throat cut competition in the market of life insurance that brand service which
adopt new strategies for sales. I concluding the whole story it can be said that people are much
more aware about the aspects of life insurance and also have knowledge about the role and act of

agent but mostly people unwilling to work as life insurance agent and mostly people prefer to
work with LIC because it is a semi government corporation.

Suggestions
Bharti-AXA life insurance company must give more advertisements on electronic media and
print media, as it help in enhance its goodwill and more people are willing to work with
reputed companies, through proper advertisement it become easy to sell the product.

An insurance company must work with honesty to win the confident of its agent and general public.
Duration of training must be reducing as in these day people have no extra time.
Training hours should be made choice of their preference timing.
Fees charged by companies from candidate for IRDA exam and training should reduce.

Many other extra facilities must be provide to agent to attract them such local and foreign trips,
special price on achieving a target, open bank account at free of cost.

Bharti-AXA Life Insurance Company must organize more and more seminars and also participate in
the job trade fairs to find out more candidates.
Increase the commission of agents.

Company must relic to candidate or other people that they are doing a social service for the welfare of
society.

Better career opportunity must be provided to an adviser, such as on role job, promotion etc.

A special function must organize time to time in which the special prizes distribute among those agent
who perform well.

Reduce the minimum premium amount it will help company to attract the agent of other company, as
it increases the scope of market of its agent.

BIBLIOGRAPHY
IC-33 Life Insurance, Shri S.J Gidwani Publishers, Mumbai

www.irdaindia.org

www.bhart-axalife.com

www.wikipedia.org

www.ibef.org

The opportunity
About 2/3 of the Indian population is „insurable”
High % of population is uninsured or underinsurance.

We Indian are “natural savers”

Indians save the maximum in the world.