PROJECT REPORT AT BHARTI AXA LIFE INSURANCE COMPNY A Project report submitted in partial fulfillment of the Requirement for

the award of the degree of MASTER OF BUSINESS ADMINISTRATION (INDUSTRY INTEGRATED) To MADURAI KAMRAJ UNIVERSITY, MADURAI By KIRIT R GADHVI Reg no:-A7752744 Under the guidance of PROF.SRINIVAS

DAYANANDA SAGAR BUSNESS SCHOOL BANGLORE JUNE 2008

CERTIFICATE This is to certify that the project report at

BHARTI AXA LIFE INSURANCE COMPANY

submitted in partial fulfillment of the Requirement forthe award of the degree of MASTER OF BUSINESS ADMINISTRATION (INDUSTRY INTEGRATED) To MADURAI KAMRAJ UNIVERSITY, MADURAI Is a record of bonafide training carried out by GADHVI KIRIT R . Under my supervision and guidance and that no part of this report has been submitted for the award of any other degree/diploma/fellowship or similar titles or prizes. FACULTY GUIDE Signature : Name :Prof.SRINIVAS

Signature & seal of the organisation

STUDENTS DECLARATION I hereby declare that the project report conducted at BHARTI AXA LIFE INSURANCE COMPNY Under the guidance of Prof.SRINIVAS Submitted in partial fulfillment of the requirement for the degree of MASTER OF BUSINESS ADMINISTRATION (INDUSTRY INTEGRATED) TO MADURAI KAMRAJ UNIVERSITY,MADURAI Is my original work and the same has not been submitted for the award of any other Degree/Diploma/Fellowship or other similar titles or prizes.

Place :

GADHVI KIRIT R.

Date :

Reg.No : A7752744

INDEX

Ch Sub No. Chapter

1

Title
INTRODUCTION. General Introduction. Objective of the study. Industry Profile. A) Origin and development of the industry. B) Players and present status of industry. PROFILE OF THE ORGANISATION Origin of the organization. Present status of the organization. Future plan of the organization. Functional department of the organization. Organization structure and Organization chart. Product and service profile of the organization. DISCUSSION ON TRAINING. Students work profile Description of live experience. Students contribution to organization. STUDY OF SELECTED REASERCH PROBLEM. Statement of research problem. Statement of research objective. Research design and Methodology. Analysis of data. Summary of findings. SUMMARY AND CONCLUSIONS. SWOT Analysis Conclusion and Recommendations.

Page No.
9 10 11 12 12 16 17 18 21 22 23 33 34 36 37 38 39 40 41 42 43 46 50 51 52 54

1.1 1.2 1.3

2.1 2.2 2.3 2.4 2.5 2.6

3

3.1 3.2 3.3

4

4.1 4.2 4.3 4.4 4.5

5

5.1 5.2

CERTIFICATE OF THE ORGANISATION

To The Training Officer, National Institute Of Applied Management, Bangalore / New Delhi.

This is to certify that Mr. GADHVI KIRIT R. Of MBA (Industry Integrated) course of MADURAI KAMRAJ UNIVERSITY at BHARTI AXA LIFE INSURANCE COMPANY learning center has undergone management training at our organization from 27TH MARCH-08 TO 15 JUNE -08. His perforence during the training period was Excellent.

Authorized Signature
BHARTI AXA LIFE INSURANCE COMPANY LTD.

61/62 kalpataru synergy,vakola,santacruz(E),mumbai

------------------------ Be Life Confident-----------------

ACKNOWLEDGMENT
My first and foremost thanks goes to the GOD almighty without whose help this project would not have been a success. I express my sincere gratitude to Sales manager of Bharti AXA Life Insurance co for providing me an opportunity to undertake this project in their esteemed organization. I express my deep sincere gratitude to Mr.Shankarnarayan Director (MKU) Dayananda Sagar Business School Banglore for his encouragement throughout the course of this study. I also express my sincere thanks to my project guide ,

Prof.Srinivas for his critical evaluation and guidance throughout the project.
I also thank all the staff of the college for their co-operation, which as a whole made the completion of this project possible. Finally my sincere thanks to my parents and to all the friends for their support and motivation throughout the project.

Mr. KIRIT R GADHVI

(Reg.No.A7752744)

LIST OF GRAPHS & CHARTS

LIST OF GRAPHS & CHARTS SI No. 1 2 3 4 Graph No. 1 2 3 4 Graph Title Hierarchy of Marketing Department hierarchy of Finance Department hierarchy of HR Department Chart showing organization chart Page No. 25 27 32 33

LIST OF TABLE

SI No. 1

Table No. 1

Table Title
Trainees opinion on Need for training Employees opinion on Designing of training programs should be Improved. Trainees opinion on Need for training. Trainers expertise and competencies are excellent.

Page No. 46

47

3 4

3 4

48 49

LIST OF TABLES

CHAPTER 1

INTRODUCTION

1.1 GENERAL INTRODUCTION

Life insurance is a contract for payment of a sum of money to the person assured (or failing him/her, to the person entitled to receive the same) on the happening of the event insured against. Usually the contract provides for the payment of an amount on the date of maturity or at specified dates at periodic intervals or at unfortunate death, if it occurs earlier.

Life insurance is universally acknowledged to be an institution, which eliminates `risk`, substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of death of the breadwinner. By and large, life insurance is civilizations partial solution to the problems caused by unfortunate events.

Any person who has attained majority and is eligible to enter into a valid contract can take out a life insurance policy for him/herself and on those in whom he has insurable interest. Policies can also be taken out Subject to certain conditions, on the life of ones spouse or child ren as well. While underwriting proposals, factors such as the state of health of the life to be assured, the proponents income and other relevant factors are considered by the corporation.

10

1.2 OBJECTIVES OF THE STUDY

 To gain the knowledge of insurance industry.  To know the rules adopted in recruitment.  To know the marketing strategies adopted by the company.  To get the exposure of the organization culture and organization environment.  To know the policies of and procedures adopted by the organization in all fields.

11

1.3 INDUSTRY PROFILE:

y ORIGIN AND DEVLOPMENT OF THE INDUSTRY:
The business of Insurance started with marine business traders, who used to gather in Lloyds Coffee House in London agre ed to share the losses to their goods while being carried by the ships. The losses used to occur because of the pirates who robbed on the high seas or because of bad weather, spoiling the goods or sinking the ship. The first insurance policy was issued in 1583 in England. The first Indian insurance Company was the Bombay Mutual Assurance Society Ltd., formed in 1870. The Oriental Life Assurance Co, in 1874, the Bharat In 1897 and the Empire of India in 1897 followed this. In the year 1956 the insurance c ompanies were nationalized and the Life Insurance Corporation (LIC) was formed on 1 st September 1956, with merger of 170 companies and 75 Provident fund societies transacting Life Insurance business in India.

Till 1999 L.I.C. was having monopoly in Indian life insurance market. In 1999 the Insurance Regulatory and Development Authority (IRDA) authorized private insurance Companies to transact Life Insurance Business in India.

12

y HOW INSURANCE WORKS:

The mechanism of insurance is very simple. People who are exposed to same the risk come together and agree that, if anyone of them suffers a loss, the others will share the loss and make good to the person who lost. In other words, the risk is spread among the community and the likely big impact on one is reduced to smaller manageable impacts on all.
y Principles of insurance: 1) Utmost good faith:

The rule in insurance is that each party to the contract is entitled to make best bargain he can. Here the knowledge of facts is always on one side. The material facts should be given while filling up the forms 2) Indemnity: A contract of Insurance (except Life, personal accident and sickness insurance) is a contract of Indemnity. This means that the assured, in case of a loss against which the policy has been issued, shall b e paid the actual amount of loss not exceeding the amount of the policy. This is applicable for fire, marine and burglary Insurances.
3) Insurable interest:

Insurable interest is necessary to support every contract of insurance. It means that the assured mus t be in a legally recognized relationship to what is insured.
4) Causal proximal:

13

The assured can recover the loss only if it is proximately caused by any of the perils insured against.
5) Risk must attach:

The insurer receives the premium in a contract of insurance for running a certain risk. If for any reason risk is not run, the consideration for which the premium was given fails.

y Principles of insurance: 6) Utmost good faith:

The rule in insurance is that each party to the contract is entitled to make best bargain he can. Here the knowledge of facts is always on one side. The material facts should be given while filling up the forms 7) Indemnity: A contract of Insurance (except Life, personal accident and sickness insurance) is a contract of Indemnity. This means that the assured, in case of a loss against which the policy has been issued, shall be paid the actual amount of loss not exceeding the amount of the policy. This is applicable for fire, marine and burglary Insurances.

8) Insurable interest:

14

Insurable interest is necessary to support every contract of insurance. It means that the assured must be in a legally recognized relationship to what is insured.
9) Causal proximal:

The assured can recover the loss only if it is proximately caused by any of the perils insured against.
10) Risk must attach:

The insurer receives the premium in a contract of insurance for running a certain risk. If for any reason risk is not run, the consideration for which the premium was given fails.
11) Contribution:

Where there are two or more insurances on one risk, the principle of contribution applies as between different insurers.
12) Subrogation:

The doctrine of subrogation is a corollary to the principle of indemnity and applies only to marine and fire insurances

15

Players in Life Insurance Industry:

There are 12 private insurance companies, & LIC being the major player from public sector. The players are;

1. ICICI Prudential A collaboration between ICICI and Prudential U.K. 2. Birla Sun life Canada. 3. Bajaj Allianz A.G. Germany. 4. Tata-AIG collaboration between TATA.India and AIG (America International Group). 5. HDFC Life Insurance Company Limited. 6. Max New York Life Insurance Company Limited. 7. Om Kotak Mahindra Life Insurance Company Limited. 8. SBI Life Insurance Company Limited. 9. ING Vysya Life Insurance Company Limited. 10. Metlife India Life Insurance Company Limited. 11. AMP Sanmar Life Insurance Company Limited. 12. Dabur Aviva Life Insurance Company Limited. 13. Bharti AXA Life Insurance Company Limited collaboration between Bajaj Auto and Allianz A collaboration between Birla and Sunlife of

16

CHAPTER 2

ORGANISATION PROFILE

17

2.1

ORIGIN OF THE ORGANISATION :

Bharti AXA Life Insurance Company Ltd., one of the fastest growing life insurance Companies in India, is a joint venture between two powerhouses, Bharti airtel

It is a partnership that is committed to India, Indians and the growth of the life insurance market in this country.

Bharti Axa Life Insurance Company Ltd. is one of the fastes t growing life insurance companies in private insurance sector. It has a satisfied customer base of 1,00,000 customers.

The company has adopted Six Sigma technique as a data driven approach and methodology for eliminating defects in any of the processes. The objective is to improve the turnaround time by 80%, reduce cost by at least 20% and reduction of data entry errors.

18

Bharti Airtel:

 Bharti Airtel is Amongst The WorldsTop Ten Mobile Companies.  Over 42 million customers adding 2.5 million every year.  Indias largest GSM operator present in all 23 circles.  5th largest listed company with market capitalization Rs 1,67,500 crores (July 09, 2007)

AXA (Financial Protection):

y World

leader

in

financial

protection

and

wealth

management.
y Axa services 50 million customers throughout the world. y Axa hold 15th position in Fortune Global 500 companies. y Axa repoted total revenue for the first half of 2007 if 41

billion.
y Axa shares are listed on the Paris stock exchange.

19

VISION:To be a leader and the preffered company for financial protection and wealth management in India

MISSION:    Customer delight the guiding principle. Ensuring world class solution and services. Offering customized products. Provide transparent.

20

2.2

PRESENT STATUS OF THE ORGANISATION :

 Over 50000 satisfied customers.  One of the private sector insurance company in India.  One of the fastest growing private sector life insurers in India.  Ranked no- among private life insurance companies in India  Multi channel execution capability.  Strong Axa and Bharti brands which can be leveraged to attract and retain high quality mgt team.  Decentralized organizational structure for increased response and Service levels.

21

2.3

FUTURE OF THE ORGANISATION

BHARTI AXA LIFE INSURANCE COMPANY has variety of products in the insurance industry the company is opratinguner the umbrella brand system and presently there is no chance of diverfication of the product but future and expansion plan are stated as below. There are following
y In two year down the line company would be in the top fifteen of the insurence industry. y Fastest expansion palm implemented near future y Various strategies are analyze as per predefine goals y Objective orientation y Future oriented goals and objectives y Standard performance vs. actual performance if any variance accurse than corrective measures to be taken as per the future oriented growth perspective. y Vision to be achieved as per the path allocated.

22

2.4FUNCTIONAL DEPARTEMENT OF THE ORGANISATION

Marketing at MetLife Insurance covers an array of activities. Advertising Branding, Marketing development, Channel support, Direct and alliance, marketing and corporate communications. The people in these sections perform a unique job.

ADVERTISING AND BRANDING

The Advertising and Branding sections deals with all the activities connected with share holders of advertising campaigns and detailing on what met life Insurance Corporate Identity stands for, which is why it is important to be consistent and the guidelines that must be adhered to. This section also deals the branding across training advisor and advertising collaterals.

MARKETING DEVELOPMENT
Marketing development met life Insurance products and brings about the development improvement of the products and how they compare with those of competition and introduce products that are required by the Indian consumers.

CHANNEL MARKETING
Channel Marketing aim to streamline the design and development of collaterals across distribution channels. There are examples of poster, flyers, Banners, danglers, scale tools, etc developed for tied agents, Bank assurance and corporate as well as for products branches and campaigns.

DIRECT CHANNELS
Direct channel comprises of direct marketing and alliance marketing.
23

Direct marketing taps data base to generate high quality leads for profitable business under direct marketing these are create of recent campaigns as well as details such as data base list, target audience. Direct marketing is done through the advisors who connect the public with the company.

CORPORATE COMMUNICATIONS
Corporate communication handles media relations and is responsible for some of the news clips regarding met life Insurance that you see in the press. All the public relations and communication activities are conducted by co operate communications.

SALES AND DISTRIBUTION

Scales and distribution activities are co- ordinate and performed by the sales manager. Sales manager has to undertake and meet target based on the present goals. Sales manager distributes his functions to his assistant sales manager who have target to achieve per month. Various utilities and activities are undertaken to motive unit managers.

CUSTOMER SERVICE GOAL

To generate an organization culture in which the consistent fulfillment of customer needs becomes the central focal point and an important way in which we differentiate from competitors.

24

Chart No. 1

Chart s owing hierarchy of Marketing Department

HOD MARKETING

MANAGERS

BRANCH MANAGER

AGENCY MANAGER

SALES MANAGER

25

FINANCE DEPARTMENT

Needs for finance department

Profit to a business is like food to human body. So every business is concerned with the profit and further all business has to know about its financial position. Finance department deals with procurement of money at the time it is needed and its effective utilization in company. Money is the lifeblood of business, of any business enterprises as it required purchasing machine, materials to pay the wages and salary to employees.

Finance departments of met life Insurance deals with the following things         Share holders Debenture holders Creditors Government Prospective investors Security and financial analysis Stock exchanges Economists and researchers

They follow all procedures of accounts. Journal , ledger, Subdivision journal, Cask book , Petty cash book ,Journal proper, Trial balance, profit and loss Account, Balance sheet , Budget allocation for the year.

26

Chart No. 4 Chart showing hierarchy of Finance Department

HOD FINANCE

MANAGERS

BRANCH MANAGER

FINANCE MANAGER

ACCOUNTANT

27

HUMAN RESOURCE DEPARTMENT

Human Resource Development has multiple goals.

These include

employee competency development, employee motivation development and organizational climate development. Employees require a variety of

competencies to perform different tasks or functions required by their jobs. The nature of jobs is constantly changing due to change in environment , changes in organizational priorities, goals and strategies, changes in the profiles of fellow employees, changes in technology, new opp ortunities, new challenges, new knowledge base, etc. such changes in the nature of jobs require continuous development of employee competencies to perform the job well. Human Resource Development in the organization context refers to the process whereby the employees are continuously helped in a planned way to:  Acquire or sharpen capabilities required to perform various tasks and functions associated with their present or future exposed roles  Develop their general enabling capabilities as individuals so that they are able to discover and exploit their own inner potential for their own and / or organizational development purposes  Develop and organizational culture where superior subordinates relationships, teamwork and collaboration among different subunits strong and contribute to the professional well being, motivation and pride of employees.

28

y HRD INSTRUMENT, PROCESSES AND OUTCOMES

There are many instruments that can be used to facilitate Human Resource Development. These instruments may be called sub-systems or

methods of techniques of aids. Each instrument or sub system focuses on some aspects of Human Resource Development. To have a comprehensive HRD many of these instruments may needed to be used simultaneously. Human Resource Development in the organization context refers to the process whereby the employees are continuously helped in a planned way to:  Acquire or sharpen capabilities required to perform various tasks and functions associated with their present or future exposed roles  Develop their general enabling capabilities as individuals so that they are able to discover and exploit their own inner potential for their own and / or organizational development purposes  Develop and organizational culture where superior subordinates relationships, teamwork and collaboration among different subunits strong and contribute to the professional well -being, motivation and pride of employees.

The most frequently used instruments are the following:

 Performance Appraisal Performance Appraisal data forms basis for decisions for developing the potential employee for higher-level jobs and is basis for feedback and counseling. Performance Appraisal Data indicates the job training needs of each individual.

29

 Potential Appraisal Development (PAD)

Potential Appraisal Development is based on career plans and career plans are prepared by using Potential Appraisal Development data. Training may be provided to develop candidates with potential.  Feedback Performance Coaching (FPC) Feedback and Performance Data can be used to monitor individual development and the data can be used for identifying training. Career counseling and verbal rewards can be part of feedback.

 Training
Training may be undertaken on the basis of career development plans. Training can be part of quality of work life programes and organization development. Training can be used as a reward.

 Career Planning (CP)

Career Planning data are used for human resources audits and career planning and help in conduct ing research on promotion patterns for organization development programs.

 Employee Welfare and Quality of Work Life

HR PRINCIPLES
y The organization believes that development of employee is in its own

interest
y The organization will provide opportunities and conditions for the

development and optimization of human resources.

y The management is willing to invest adequate time and resources for the

development of the employees and personally participate in the development.

y Managers have concern for growth of subordinates.
30

The main objective of the HRD department is to create a learning environment and development climate in the organization. By learning

environment is meant a culture where employees continuously learn from their own experience and the various learning opportunities the organization provides.

RECRUITMENT POLICIES
The recruitment is carried out from both external & internal sources. The sources of recruitment followed in the organization are:

Internal Sources
1. Present employees 2. Employees referrals 3. Former employees

External Sources
1. Campus recruitment 2. Print media 3. Electronic media

SELECTION
Selection is carried out in three major stages 1. Preliminary interview 2. Selection test 3. HR interview

REMUNERATION AND INCENTIVES

The organization offers attractive remuneration and incentives to attract the budding youngsters and to maintain its present employees.

31

Chart No. 5

Chart showing hierarchy of HR Department

HOD HR

SENIOR MANAGER

BRANCH MANAGER

MANAGERS

ASSISTANT MANAGER

ASSISTANT MANAGERS

TRAINEES

TRAINEES

32

2.5 ORGANISATION STUCTURE :

Chart showing organization chart
BOD

CEO

Director Human

Director Marketing

Director (Sales)

Director ADC

Director Finance

HR Manager

Agency & Training

Finance Manager

. Associate Director

Br. Mgr.

Br. Mgr

Br. Mgr

Br. Mgr

Br. Mgr

AD

Associate Manager

Branch Manager
Channel Sales Manager

Sales Manager
Financial Manager

Channel Sales Officer

Customers

Customers

33

2.4 PRODUCT AND SERVICE PROFILE OF THE ORGANISATION :

INDIVIDUAL LIFE PLANS:
A.Bharti Axa Aspire life: A unit linked plan. This is the best plan in insurance industry. This amazingly flexible unit linked life insurance plan provides an opportunity to the investor to participate in market-linked returns, while enjoying the valuable benefits of life insurance. B.Bharti AXA wealth Confident: In this plan. Limited premium payment term of 5 years, while the policy will continues for 10 years. Its unit linked insurance plan with life insurance benefit, special addition for every year, opportunity to higher return to earn high returns. C.Bharti AXA Invest Confident: This is unit linked paln, convenient single premium payment product with policy benefit period till the age of 70.in this policy, the investment risk in the investment portfolio is borne by the policyholder.

34

D.Bharti AXA Future Confident 1: Provide comprehensive protection for policyholder while growing wealth to meet your long-term goals. a perfect product for those who want to safeguard their future by planning for it right now. Special addition at reguler intervals potenciallly enhances long-term wealth.

E.Bharti AXA Future Confident 2: This plan almost same to future confident 1.In this plan add riders to the policy at a very nominal addition cost to attain financial protection against critical illness and disability due to an accident. .a perfect product for those who want to safeguard their future by planning for it right now.

G.Bharti AXA Save Confident: A Traditional money back insurance product for long term savings. A traditional money back insurance product, with a perfect combination of liquidity, long term savings and life insurence benefit.

35

CHAPTER III

DISCUSSIONS ON TRAINING

36

WORK PROFILE :
Being a employee of the company my role and responsibility are as under: y A person have a different roles at different time during his life span, for e.g. a same person can be a boy, a father, a brother, a employee of the company and a friend as well. y The same as above my roles have verily significant time to the stakeholders, for e.g. I can be sales executive an employee of the company as well etc. y A defining the target sales y Screening the potential customer y Select the appropriate one y Interact face to face y Effective implementation, which required planning, organising, sttufing, directing, controlling, corninating, reporting, budjeting. y Positive response feed back

37

3.2 DESCRIPTION OF LIVE EXPERIENCE

BHARTI AXA is one of the best company In the insurence industries .our branch has been operating in banglore, which is Indias on eof the great IT city in India, its great pleasure to work with this value added organization, there various live occasions and experience through which I past my carrier which have following details. y Positive thinking y Effective interaction with customers y Unity of command y Managerial responsibility y Organization effectiveness y How to deal with the competitors y How to deal with the supplier y How to deal with the other employee y How to deal with the govt.

38

3.3 CONTRIBUTION TO ORGANISATION :

The core competency is the ever-lasting factor, which differentiates an organization from its competitors. Employee is the asset of the company and their contribution is indirect profit to the organization. My effective contribution to the organization are as follow: y y y y y y y y y y Promoting knowledge and acceptance Creativity management Problem solving argument Marketing strategies Cost effectiveness Improve the relation Cross cultural diversity Generation of revenue of five lakhs in last three years System flexibility recommendation Active team player.

39

CHAPTER IV

STUDY OF SELECTED RESEARCH PROBLEM

40

4.1 STATEMENT OF RESEARCH PROBLEM

Changing technology and lack of skills have resulted in a need for development, which calls for training.

BHARTI AXA LIFE INSURANCE COMPANY is a growing company so it needs to to be technological and skills improvement to compete the external and internal environmental changers. To accomplishment of the desired goals we need Change.

For accomplishment of the short-term variations training is necessary and the opinion of the trainers and trainee are needed to conduct the training effectively and for accomplishment of the training needs.

41

4.2

RESEARCH OBJECTIVE :

4.2.1. OBJECTIVES OF THE STUDY  To study how the training objectives help to improve career growth and development of employees.  To study the opinion of trainees and trainers and the present training programmers conducted at MARUTHI ASSOCIATES (P) Ltd.

4.2.2. HYPOTHESIS OF THE STUDY

Null hypothesis Ho: There is no significant relationship between trainees and trainers on

training objectives and its contribution to employee career growth and development

Alternative hypothesis H1: -

There is significant relationship between trainees and trainers on training objectives and its contribution to employee career growth and development

42

4.2.3. LIMITATIONS OF THE STUDY

The sample size collected is comparatively small to the organizations man power The data collected is limited to only three units of MARUTHI ASSOCIATES (P) LTD There is a possibility of deviation in the answering pattern from what the respondents really feel Information by respondents is not accurate due to fear of management.

4.3

RESEARCH METHODOLOGY :

DESIGN

AND

4.3.1. RESEARCH DESIGN

Research design is defined as the specifications of methods and procedures for acquiring the information needed. It is a plan of organization framework for doing the collection of data.

4.3.2. A. DATA COLLECTION SOURCE The search for answers to research questions is called Collection of Data. Data are facts, other relevant materials, past and present, serving as basis the study and analysis. There are two types of data collection methods.
43

  Primary Data:

Primary Data Secondary Data

Primary data is collected through the issue of structured questionnaire to the employees at MARUTHI ASSOCIATES (P) LTD. Secondary Data:

Secondary data is collected from manuals; annual reports part records, textbooks, Journals, Maxines and websites. 4.3.3. B. SAMPLING POPULATION
Population refers to the total number of employees at MARUTHI ASSOCIATES (P) LTD. Population of the study is 1500 employees.

4.3.4. C. SAMPLE SIZE

A total of 70 (50 trainees and 20 trainers) taken as a sample size.

4.3.5. D. SAMPLING METHOD

Since that sample side is fixed and the data collected from the employees according to my convenience not randomly, is called convenience sampling.

4.3.6. E DATA COLLECTION TOOLS

For collecting the data the tools are used   Interview method Rating scales

44

4.3.7. F. STATISTICAL TOOLS

For analysis j Percentage method

For hypothesis testing j Chi square method

45

4.4

ANALYSIS OF DATA :
Table 5.2. Trainees opinion on Need for training.
Particulars No. Of Respondents Percentage

A process of learning experimental Helpful to improve my performance Need based All of the above

14

28%

14

28%

16 6

32% 12%

 Inference: The above question is asked to know the opinion of trainees on need for training. From the above table it is interpreted that 32% of the trainers are agreeing that training modules are need based, 28% A process of learning helpful to improve my performance, 12% all of the above .

46

Table 5.3. Employees opinion on Designing of training programs should be Improved.

Particulars

No. Of Respondents

Percentage

Strongly agree Agree

20 24

40 % 48%

Disagree Strongly disagree

6 -

12% -

 Inference: The above question is asked to know the opinion of employees on improvement of training programs. From the above table it is interfered that 48% of trainees are agree, 40% strongly agree, followed by 12% Disagree.

47

Table 5.2. Trainees opinion on Need for training.

Particulars

No. Of Respondents

Percentage

A process of learning experimental Helpful to improve my performance Need based All of the above

14

28%

14

28%

16 6

32% 12%

 Inference: The above question is asked to know the opinion of trainees on need for training. From the above table it is interpreted that 32% of the trainers are agreeing that training modules are need based, 28% A process of learning helpful to improve my performance, 12% all of the above .

48

Table 5.5. Trainers expertise and competencies are excellent.

Particulars No. Of Respondents Percentage

Strongly Agree Agree

24 28

44% 56%

Disagree Strongly Disagree

49

4.5

SUMMARY OF FINDINGS :

y Majority of the employees feel that training objectives are oriented towards employee career growth and development y Majority of employees need slight modifications in training Program shipments. y Majority of the trainers opinion is the training will depend on employee performance. y Majority of the employees are interested in audiovisual aids for training. y Majority of the trainees feel that objectives of training programs are skill development, Performance improvement, career growth and organizational growth. y Majority of the trainees feel that training is on need based. y 48% of the employees feel that designing of training programs should be improved. y Majority of the trainees feel that Training enables to seek additional responsibilities to an employee

50

CHAPTER 5

SUMMARY AND CONCLUSIONS

51

5.1 SWOT ANALYSIS :

y

STRENGTHS:

 Trust and belief in the leading household name in India i.e., Bharti Airtel.  Trust and belief in World Leader in financial parotection i.e., AXA.  Self driven sales teams, consisting of different levels of

managers and consultants.  Expanded base of operation, through venturing into

Bancassurance.  Earning cash profit within the fourth year of starting of operations. 

y WEAKNESSES:

 As the company is new it is yet to expand its area of operations, all over India.  No proper retention strategy.  Yet to open branches in semi-urban and rural sectors.  Less motivating benefits to employees.  Sales teams to be trained more efficiently with modern technology.

52

y OPPORTUNITIES: A large proportion of population is not sufficiently insured itself this can be a major area of attention for the company.  Extending Banc assurance through other small financial institutions.  Increased awareness among general public about insurance and savings can give good business to the company.  Introducing new policies with different plans for agriculture sector.

y THREATS:
 Competition from LIC and other players like ICICI is a major cause of concern for the company.  LIC, being topper in the insurance sector in India, is coming out with new products, with similar features of Bajaj Allianz Life Insurance Company Ltd.  ICICI, with its larger customer base through Banking network and Banc assurance, is major threat for the company.  Inadequate advertisement can also effect the business.

53

5.2 CONCLUSION & RECOMMENDATION

5.2.1 CONCLUSION:

From the study conducted, I reached to the following conclusion, BHARTI AXA LIFE INSURENCE COMPANY. is performing extremely well as per the research done. Most the factors are being taken care very well, which makes BHARTI AXA LIFE INSURENCE COMPANY. one of the best companies in the market. With the creative and innovative culture of the company it has been successful in creating a very nice image in the minds of the customers. As per the customers most of them are satisfied with the company and the products offered by it. The sales executive who keeps the direct contact with the customers are performing very well. These executives represent the company and the customers are highly satisfied with the knowledge, skills and the enthusiasm that they show in serving the customers and advising them for the best product in the market.

54

5.2.2 RECOMMENDATION:

From the study conducted, it can be found that there are some areas where the company should concentrate and improve on the same.

 Increase the number of branches.  Expand the area of operation.  Follow a proper retention strategy, so that the employees who perform well can be retained in the company.  Make available, the Unit-Linked plans to rural sectors of the country.  More training and motivation sessions to the consultants.  Introduce unit linked pension products.  More advertisement will help the business.

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APPENDIX
1. QUESTIONNAIRES

QUESTIONNAIRES QUESTIONNAIRE FOR TRAINEES

Name Age: Designation: Department: :

1.

Objective for training program includes? a. Skill Development c. Carrier Growth

b. Performance improvement c. Organization growth

2.

Training modules carried out for me? a. Process of learning c. Helpful to improve my Performance e. All of the above b. Experimental d. Need Based

3.

Designing of training programs should be improved? ( a. Strongly agree c. Disagree b. Agree d. Strongly Disagree

4.

Training tools used are excellent? a. Strongly agree c. Disagree b. Agree

d. Strongly Disagree 56

5.

Trainers expertise and competencies are excellent? a. Strongly Agree c. Disagree b. Agree d. Strongly disagree

57

BIBLIOGRAPHY
1. K.Ashwathapa, Human Resource and Management and

Personnel Management, Tata Mc Graw, Hill, Third edition 2. Philip Kotler, Marketing Management, Pearson Education, Eleventh edition 3. Prasana Chanadra, Financial management, Tata Mc Graw, Hill, Fifth edition

www.irda.org

 www.bharti-axalifeinsurence.com  www.lic.com

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