A Project Report

ON To Study about TO STUDY ABOUT BAJAJ

ALLIANZ LIFE INSURANCE

Submitted in the partial

Fulfillment of the requirement

For the award of degree of

Bachelor Of Business Administration
(2010-2011) SUBMITTED TO MR. M.P SHARMA H.O.D Government College for women Karnal Supervised By: Submitted By: Mr. Sanjeev Kumar DIMPLE SHARMA Branch Manager, Roll No. 1790 Bajaj Allianz Life Insurance Ltd.

Contents
1. Introduction To Insurance Industry 1.1 What is Insurance? 1.2 General Introduction 1.3 Objectives & Scopes 2. Brief History Of Insurance Industry 3. 3. Structure Of The Insurance Industry 4. Basic Function Of The Insurance Industry 5. Classification Of The Insurance Industry 6. Company Profile Of The Insurance Industry 6.1 BAJAJ ALLIANZ 6.2 About BAJAJ ALLIANZ Life Insurance 6.3 Advantage Of BAJAJ ALLIANZ Life Insurance 6.4 Research Methodology 7. Product Of BAJAJ ALLIANZ 8. Promotors 9. About BAJAJ ALLIANZ 10. Banc assurance and Alliances 11. Suggestions 12. 50 Great Recruiting Ideas 13. Conclusion 13.1 Method Adopted For Recruiting Of Agency 13.2 Different Stages In Recruiting Procedure 14. Bibliography

ACKNOWLEDGEMENT
Research can not be claimed the work of a single person. It is rather teamwork. It is the efforts of many persons involved. I extend my heartfelt gratitude to Mr. Sanjeev Kumar. Branch Manager in Bajaj Allianz Life Insurance, Karnal who most generously agreed her, which enlightened my path in successfully completing this project. I sincerely appreciate his contribution. I am also thankful to MS SUMAN CHAUHAN, SALES MANAGER Karnal for providing me an opportunity to conduct this research study smoothly. Moreover he has been constantly motivating me for this project. I am also very thankful to all respondents for their Welcoming attitudes and their wholehearted responses. Without their help this study would not have been possible. At the last but not least, I also express my heartfelt gratitude to my parent, who provided me an opportunity to reach at this level and my friends for their help and motivating me for completion of this stud.

DIMPLE SHARMA

DECLARATION
I, DIMPLE SHARMA Roll No. 1790 of class BBA III year of GOVT. WOMEN COLLEGE KARNAL here by declare the project entitled TO STUDY ABOUT BAJAJ ALLIANZ LIFE INSURANCE is an original work and same has not been submitted to any other institution for awards of any other degree partially or wholly

CERTIFICATE
Certified that the work incorporated in this Project Report TO STUDY ABOUT BAJAJ ALLIANZ LIFE INSURANCE

submitted by DIMPLE SHARMA is her original work and completed under my supervision. The work has not been submitted in part of full to this or any other university for the award of any degree or diploma. This work is conducted during session 1st JULY 2011 to 20th SEPT 2011. He has

completed all requirements of BBA ordinance.

Date: 21th Sept.,2011 Signature of Supervisor Name Designation. Organization : : : : Sanjeev Kumar Branch Manager Bajaj Allianz Life Insurance Co. Ltd. Karnal

&
signature SUMAN CHAUHAN SALES MANAGER

1. INTRODUCION TO INSURANCE INDUSTRY

1.1 What is Insurance?
Insurance in which the risk insured against is the death of a particular person, the insured, upon whose death while the policy is in force, the insurance company agrees to pay a stated sum or income to the beneficiary. OR A product which provides protection against the economic loss caused by a person's death. The protection is made possible by spreading the cost of the financial loss over a large group of people who are exposed to the same risk.

1.2 General Introduction:

Insurance industry has always been a growth-oriented industry globally. On the Indian scene too, the insurance industry has always recorded noticeable growth vis--vis other Indian industries. The Triton General Insurance Pvt. Ltd. was the first general insurance company to be established in India in 1850, which was a wholly British-owned company. The first general insurance company to be set up by an Indian was Indian Mercantile Insurance Pvt. Ltd., which was established in 1907. There emerged many a player on the Indian scene thereafter. The general insurance business was nationalized after the promulgation of General Insurance Business (Nationalization) Act, 1972. The post-nationalzation general insurance business was undertaken by the General Insurance Corporation of India (GIC) and

OBJECTIVES AND SCOPE

The project was conducted for the following objective: To gain an understanding and knowledge of Mutual Funds as an Investment Tool. To study the product profile of the company. To evaluate the performance of selected schemes of Mutual Fund of different companies. To compare the Mutual fund schemes on different parameters such as Annualized Returns, Standard Deviation and Sharpe Ratio. To analyze the performance factor of the Fund based on different drivers associated with the specific fund.

SCOPE The Indian securities market is the scope of this project and funds floated therein .The whole project was based with the agenda to analyze existing mutual funds and determine their performance factors .In depth analysis of individual fund is not the scope but on the other hand Performance of funds and finding their reasons as in general is the primary motive behind this project

its 4 subsidiaries: 1. Oriental Insurance Company Limited; 2. New India Assurance Company Limited; 3. National Insurance Company Limited; and 4. United India Insurance Company Limited. Towards the end of 2000, the relation ceased to exist and the four companies are, at present, operating as independent companies. The Life Insurance Corporation (LIC) was established on 01.09.1956 and had been the sole corporation to write the life insurance business in India. The Indian insurance industry saw a new sun when the Insurance Regulatory & Development Authority (IRDA) invited the applications for registration as insurers in August, 2000. With the liberalization and opening up of the sector to private players, the industry has presented promising prospects for the coming future. The transition has also resulted into introduction of ample opportunities for the professionals including Chartered Accountants. The Indian Insurance industry is featured by the attributes: Low market penetration; Ever-growing middle class component in population. Growth of consumer movement with an increasing demand for better insurance products; Inadequate application of information technology for business.

 Adequate fillip from the Government in the form of tax incentives to the insured, etc. The industry formations need to keep vigil on these characteristics of the Indian market and formulate their strategies to entail maximum contribution to the output of the sector. The Indian life and non-life insurance business accounted for merely 0.42 percent of the world's life and non-life business in 1997. The figures of the basic parameters of the industry's performance viz. Insurance Density and Insurance Penetration also are evident of the hitherto existing lowyield Indian market conditions. The term "Insurance Penetration" broadly measures the contribution of the insurance industry in relation to a nation's entire economic productivity. The figure of premium vis--vis the GDP of 1999 stood at 0.54 percent for non-life insurance business and 1.39 percent for the life insurance business. The term "Insurance Density" reflects the Insurance purchasing power. The premium per capita in India amounted to US $ 2.40 for non-life insurance and US $ 6.10 for life insurance in 1999 but with the deregulation of the sector, a sea change in the scene is most likely. The insurance sector in India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again. Tracing the developments in the Indian insurance sector reveals the 360-degree turn witnessed over a period of almost two centuries.

2. A BRIEF HISTORY OF THE INSURANCE INDUSTRY:

The business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta. 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. Some of the important milestones in the general insurance business in India are: 1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business.*

1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices. 1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.

3. STRUCTURE OF THE INSURANCE INDUSTRY

The structure of the insurance industry comprises of the Operating department, Administrative department and the finance department. The Operating Department generally performs the basic functions pertaining to the designing of products, marketing thereof, servicing the insured, the the the insured, management of portfolio, etc. The Administrative Department looks after the day-to-day affairs of the company. The Finance Department backs the operations and administration of the company by accounting for the transactions, streamlining the flow of funds, materializing the management decisions, etc. The Administration Department as well as the Finance Department, usually, functions through in-house setup. The Finance Department functions in the areas of accounting,

financial and management reporting, budgeting and controlling, etc. and thus renders enormous scope for finance professionals. The new entrants in the insurance sector are likely to call for the services of the Chartered Accountants for their financial setup requirements. The Chartered Accountants have engaged themselves in the audit of Insurance Companies since long. With the transition in the insurance sector, the horizons for their contribution have broadened. There has, emerged a king-size pool of opportunities that the Chartered Accountants can explore and apply their professional wisdom and experience to.

4. BASIC FUNCTIONS OF THE INSURANCE INDUSTRY 4.1. Risk Perception and Evaluation:
The fundamental function of an insurer is to provide a cover against the detriment caused to the insured due to the happening of certain specified and agreed events. Thus, prior to providing such umbrella through a product, the insurer has to assess the risk involved in the transaction. The insurer has to identify the element of risk prevalent in the concerned industry or a particular unit. The perception of risk requires the study of variables through various methods including the application of scientific and statistical techniques and correlation thereof with the industry or unit under study in light of their basic environmental and infrastructural characteristics. After the identification and categorization of the risks perceived, the probability of happening of the loss-causing events and the severity of the loss has to be assessed.

4.2 Designing the Insurance Product:

On the basis of the risks perceived, the insurer develops a product to cover the stipulated risks. While designing an insurance product, an insurer decides its cost to be charged from the insured in the form of premium, reduction thereof in certain cases like not lodging any claim during the previous covered period(s), suggesting the implementation of risk-mitigating measures, etc. The features of a product should be flexible enough to provide for the determination of premiums, rebates, additional premiums, etc. depending upon the risk benchmarks as determined.

4.3. Marketing of the Product:

The core function of the marketing force of an insurance company is to generate awareness about the insurance products among the target market. But in the Indian scenario, where the insurance penetration is too low as compared to the other nations, the marketing force needs to perform the pro-active role in developing an insurance culture. It is through the efficiency of the sales force of an insurance company that the desirability and the success of a product are determined. In Indian insurance market, the function is, basically performed by the agents. The persons desiring to function as insurance agents have to obtain license to act as such from the IRDA or an officer authorized by the Authority in this behalf. The agents approach the prospective buyers and apprise them of the basic features of the products. In order to dispense with the functions, the agents need to possess adequate knowledge of the insurance industry, products and

the modalities attached therewith. Further, the marketing personnels should be adequately backed by the back-office setup.

4.4. Selling of the Products:

The term selling in the context of insurance industry connotes the issuance of policies to the applicant proposer. The non-life insurance policy basically embodies the covenant between the insurer and the insured wherein the former agrees to indemnify the latter for the loss caused to him on the happening of the certain agreed events up to a specified limit. The life insurance policy generally contains the agreement whereby the insurer agrees to pay to the insured or the beneficiary of the policy an agreed amount on the expiry of the term of the policy or in the event of the death of the insured respectively. The additional benefits in the shape of Riders viz. Accidental Death Benefit, Double Sum Assured, Critical Illness benefits; Waiver of Premiums, etc. can also be appended with the policy on the payment of an additional premium. In Indian industry, the function is, generally performed by the insurer. In addition, the insurance companies depute their Direct Selling Representatives to look after the function. They receive the proposal documents, vet them and issue policies to the proposers.

4.5. Management of Portfolio:

The management of the portfolio includes the assessment of requirement of funds, identification of various sources of finance, the evaluation of the sources in the light of their cost, availability, timing, etc., reconciling the features of various sources with the needs of the company and the

selection of appropriate conjunction of sourc The insurer possesses huge amount of funds, which need proper management. The management of the portfolio of an insurance company requires the identification of investment avenues, evaluation thereof and the selection of the most appropriate mix of alternatives where the funds of the company can be invested. The selection requires the knowledge of finance related functions and techniques apart from the in-depth know of the patterns of requirement of funds in the company as well as in the industry as a whole.

5.CLASSIFICATION OF INSURANCE INDUSTRY

5.1 Industry Classification:

In most cases, when starting to employ, businesses pay Workplace Injury Insurance premiums at the industry rate. This is because the employer does not yet have any of their own experience to include in the premium calculation. Industry rates are an indication of the risk level of the particular industry group and are based on the VWAs historical records of the claims experience of all the employers in the group. If you are in a high risk industry, such as concreting, abattoirs, or long distance road transport, you are more likely to have claims and consequently your industry rate will tend to be higher. When you first apply for a Work Cover insurance policy you are asked to give details of your workplace, including a description of the activities carried out there.

Workplace details identify the activity that contributes most to the value of the goods or services your workplace produces or provides which determines your industry classification. It is important that you provide your agent with accurate information about your workplace to make sure you are correctly classified. You must also notify your VWA Authorized agent of any changes in your business that may affect your classification. If you think your business may be wrongly classified you should talk to your agent.

5.2 Industry Rate:

An industry rate is the average rate of premium that needs to be collected to cover the costs of all Workplace Injury Insurance claims in a given industry. The effective industry rates in Victoria currently range from 0.31% to 11.79% (capped). These rates have been updated using recent claims data to ensure they reflect the risks of the activities undertaken in each industry.

6. COMPANY PROFILE

6.1 About Bajaj Allianz Life Insurance co.:

Mission : As responsible customers focused market leader, we still strive to understand the insurance need of the cosumers and translate and it into affordable products thet deliever for money Vision : To be the best choice insurer for customers. To be the prefered employee for staff in the insurance industry To be the number one insurer for creating shareholder value Bajaj Allianz Life Insurance Co. Ltd. I IRDA Registration No. 116 dated 3rd August 2001. BOARD OF DIRECTORS : Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Mr. Rahul Bajaj (Chairman) Manuel Bauer Sanjay Asher Neeraj Bajaj Sanjiv Bajaj Heinz Dollberg Kamesh Goyal (Alternate Director To Mr. Manuel Bauer) Ranjit Gupta S. H. Khan Suraj Mehta V. Philip (M.d & CEO) Manu Tandon

Bajaj Allianz Life Insurance Co. Ltd. Bajaj Allianz Life Insurance Co. ltd is a joint venture between two leading conglomerates, BaJAJ AUTO , one of the bigest two and three- wheeler manufactureres in the

world and Allianz AG, one of the word's lrgest Insurance companies,

till 17 to 20 pages

RESEARCH METHODOLOGY
A research is a careful investigation or enquiry, especially through search foe new facts in any branch of knowledge. It is a systemized effort to gain more knowledge. Research Methodology is a way to systematically solve the research problem. It includes not only the research methods, but also the logic behind using the methods. The methods of research used in this project were as follows: Analytical Research

Applied Research

Analytical Research: In analytical research the researcher has to use the facts already available, and analyze these to make the critical evaluation of the material. In this project I have used many raw data from the various sources and analyzed it for underlying trends. Applied Research:Applied Research aims at finding a solution for an immediate problem. Research aimed at certain conclusions (say a solution) facing a concrete social or business problem is an example of applied research. Thus the central aim of applied research is to find a solution for some pressing practical problem. In this project, in the last section, by means of assumptions I have found the feasibility of a project that the organization means to undertake. The analysis of the trends followed by the mutual funds was Analytical Research.

7. Product of Bajaj Allianz:

A. Child Plan:

BAJAJ ALLIANZ Mutual Fund is coming out with an Open Ended BAJAJ ALLIANZ Child Care Plan. A salient feature of the scheme is the offer of scholarships for meritorious students, for which a separate trust will be constituted and Accident Insurance cover for parent/legal guardian. The Initial Offer opens on July 16 and closes on Aug 6. However, the earliest closing date will be July 26. According to the offer document, the Child Care Plan comes with two plans - Study Plan and Gift Plan. The primary investment objective of both the plans is to seek to generate income by creating a portfolio that is invested in debt, money market instruments, equity and equity related securities. However, there is a substantial difference in the planned exposure to different market segments under both plans. Under the Study Plan, in normal circumstances, 0-15 per cent of the corpus may be allocated for investment in equities and equity related securities while the balance 85100 per cent is allocated for debt securities, money market instruments, securitised debt and cash (including money at call). However, the Gift Plan is a little more expansive in that equities and equity related securities get a substantially higher allocation of 51 to 60 per cent of the corpus. Debt

securities, money market instruments, securitised debt and cash get the rest (40-49 per cent). There are caps for investment in individual sectors like Government securities or Securitised debt.

C. Protection Plan:
The sole objective of these plans, as their name indicates, is to serve the protection needs of the customer and safeguard ones family from by doing so the financial implications of unfortunate circumstances than one cannot foresee. higher returns of market- ULIPs are ideal for customers linked instruments. The who want the protection of a most important benefit of life cover to be allied to the ULIPs is the flexibility returns of market linked Wealth Creation Plans give instrument the customer the dual benefit of protection along with the potentially they give the customer in choosing the premium amount and also choosing the underlying fund in which this money is to be invested. Wealth creation plans also offer the customer more liquidity options as compared to traditional plans. As such

D. Group Insurance plans:

As a compassionate employer who regards your team as your most precious asset, you would undoubtedly want to safeguard their wellbeing, at all times. Invest in Bajaj Allianz's Group Term Insurance Plan-a oneyear renewable life insurance policy that enables you to provide every member of your team with an affordable life cover. Read more about the features and benefits of this plan, right away. Group medical insurance offers insurance cover to a group with a common trait it may be employees of a company, members of a club or an association or members of a cooperative society etc. Many employers now provide medical insurance as a perquisite to their employees. Group Insurance Solutions Bajaj Allianz also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees. Group Gratuity Plan: BAJAJ ALLIANZ Pru's group gratuity plan helps employers fund their statutory gratuity obligation in a scientific manner. The plan can also be customized to structure schemes that can provide benefits beyond the statutory obligations. Group Superannuation Plan: BAJAJ ALLIANZ Pru offers both defined contribution (DC) and defined benefit (DB) superannuation schemes to optimise returns for the members of the trust and rationalise the cost. Members have the option of choosing from various annuity options or

opting for a partial commutation of the annuity at the time of retirement. Group Immediate Annuities:In addition to the annuities offered to existing superannuation customers, we offer immediate annuities to superannuation funds not managed by us. Group Term Plan: BAJAJ ALLIANZ Pru's flexible group term solution helps provide affordable cover to members of a group. The cover could be uniform or based on designation/rank or a multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the member on his/her death.

*BAJAJ ALLIANZ Group Solutions Advantage

Bajaj Allianz offers a suite of Group Insurance plans that provide both you and your employees with a host of benefits: 1. Group Super Annotation: This flexible plan for both, defined benefit and defined contribution, provides retirement & tax benefits applicable to an approved superannuation trust. Read more 2. Group Gratuity Plan: This hassle-free plan enables you to effortlessly fund your statutory gratuity obligation. Read more 3. Annuity Solutions: This suite of retirement plans enables you to provide your employees with a steady income all through their retired lives. Read more 4. Group Term Insurance Plan: This insurance plan provides affordable cover to all your employees. Read more

5. Group Term Insurance in lieu of EDLI: This plan is certified by Employee Provident Fund Organistion (EPFO) as a superior alternative to Employee's Deposit Linked Insurance Scheme.

E. Market-linked insurance plans:

MARKET-linked plans (MLPs) were the rage in the insurance business in 2003. Why not? With the stock markets booming and the guaranteed additions on traditional plans on their way out, the MLPs were an attractive option in an industry dominated by savings-oriented plans. Because of the equity market's good performance, the returns on these plans were superior to those from the plain vanilla schemes. The MLPs are superior to plain vanilla schemes in terms of flexibility and transparency. At any point of time, in an MLP, you know the value of the investment and have the flexibility of choosing the fund options and switching between them. Recently, the returns on MLPs too have been superior to those declared on regular plans, and have outperformed the benchmark indices such as Nifty and Sensex (for equity oriented plans), Crisil Composite Bond index (for debtoriented plans) and the Crisil Balanced Index (for balanced plans). The bonuses declared on regular plans would have ranged only between 3-5 per cent.

Market linked plans are similar to mutual funds. They, however, differ on three key parameters returns, taxation and charges.

Returns on savings-oriented insurance products are lower than other non-insurance products. The MLPs are no different. They have not performed as well as the mutual funds in the growth and balanced categories. Equity/Balanced options: MLP growth funds follow a conservative investment style even if they are not subject to a regulatory cap as in the case of non-market linked plans. BAJAJ ALLIANZ, the most aggressive of all, in terms of asset allocation, has an equity exposure of just 85 per cent. In contrast, mutual funds invest 100 per cent in equities. A more appropriate comparison would be to a balanced mutual fund. Here again, even balanced mutual funds outperformed the MLPs. Debt option: Returns on insurance debt funds were on a par with mutual fund debt options. Returns on Birla Sun Life's debt option was 17 per cent in 2003 surpassing the others by a huge margin. This is only to be expected as Birla Sun Life has a small equity portion (10 per cent) in its debt fund. Others such as Bajaj Allianz and Kotak Mahindra invest purely in debt. Stock selection: Stock picks in the MLP portfolios were conventional. Most plans have by and large stuck to large cap and index stocks. Aviva's plan was an exception. The stocks picked were predominantly from the mid-cap segment. Aviva took early exposures to sectors such as agrochemicals, retailing and packaging. Other MLPs had miniscule exposure in these sectors. The portfolios were diversified with at least six-seven sectors figuring in each portfolio.

8. Promoters:
BAJAJ ALLIANZ Ltd. (NYSE:IBN) is India's second largest Pvt. Ltd. and largest private sector Pvt. Ltd. with

over 50 years presence in financial services and with assets of over Rs 3569.32 bn (USD 88 billion) as on June 30, 2007. The Pvt. Ltd. offers a wide range of Pvt. Ltd.ing products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment Pvt. Ltd.ing, life and non-life insurance, private equity and asset management. BAJAJ ALLIANZ Pvt. Ltd. is a leading player in the retail Pvt. Ltd.ing market and services its large customer base through a network of over 950 branches (including extension counters), 3469 ATMs, call centers and internet Pvt. Ltd.ing (www.BajajAllianzcom) to ensure that customers have access to its services at all times. ALLIANZ Established in London in 1848, plc, through its businesses in the UK and Europe, the US and Asia, provides retail financial services products and services to more than 20 million customers, policyholder and unit holders and manages over 256 billion of funds worldwide (as on June 30,2007). In Asia, is the leading European life insurance company with life operations in China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Vietnam. is the second largest retail fund manager for Asian sourced assets exJapan as at June 2006. Its fund management business has expanded into a total of ten markets : China, Hong Kong, India, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam and United Arab Emirates.

Sales Promotion:
Incentives to the end users for taking the policy play an important role in promoting the insurance business. Since the insurance business is also related to achieving of a

particular target, it is pertinent that the policymakers assign due weightage to the same. The offering of small gifts during a particular period, the rebate, discount, bonus can increase business of organisation by leaps and bounds. Besides, there can be gifts for the insurance agents also.

9. About BAJAJ ALLIANZ. Ltd.:

BAJAJ ALLIANZ was established by the Government of India in the 1960s as a Financial Institution (FI, other such institutions were IDBI and SIDBI) with the objective to finance large industrial projects. BAJAJ ALLIANZ was not a Pvt. Ltd. - it could not take retail deposits; and nor was it required to comply with Indian Pvt. Ltd.ing requirements for liquid reserves. BAJAJ ALLIANZ borrowed funds from many multilateral agencies (such as the World Pvt. Ltd.), often at concessional rates. These funds were deployed in large corporate loans. All this changed in 1990s. BAJAJ ALLIANZ founded a separate legal entity - BAJAJ ALLIANZ . Ltd. which undertook normal Pvt. Ltd.ing operations - taking deposits, credit cards, car loans etc. The experiment was so successfulthat BAJAJ ALLIANZ merged into BAJAJ ALLIANZ Pvt. Ltd. ("reverse merger") in2002 At the time of the reverse merger, there were rumours that BAJAJ ALLIANZ had a large proportions of Non Performing Loans ("NPA", as they are known in India) on its books - in particular to the steel industry. Since 2002, there has been a general revival in Indian industry (and metal based industry in particular). It is widely believed that the proportion of NPAs has come down to prudent levels (even if it were high earlier).

BAJAJ ALLIANZ Pvt. Ltd. now has the largest market share among all Pvt. Ltd.s in retail or consumer financing. BAJAJ ALLIANZ Pvt. Ltd. is the largest issuer of credit cards in India[citation needed]. It was the first Pvt. Ltd. to offer a wide network of ATM's and had the largest network of ATM's till 2005, before SBI caught up with it. BAJAJ ALLIANZ Pvt. Ltd. now has the largest market value of all Pvt. Ltd.s in India, and is widely seen as a sophisticated Pvt. Ltd. able to take on many global Pvt. Ltd.s in the Indian market. The Pvt. Ltd. is expanding in overseas markets. It has operations in the UK, Hong Kong, Singapore and Canada. It acquired a small Pvt. Ltd. in Russia recently. It has tie-ups with major Pvt. Ltd.s in the US and China. The Pvt. Ltd. is aggressively targeting the NRI (Non Resident Indian) population for expanding its business.

About the Promoters:

BAJAJ ALLIANZ Ltd. is India's second largest Pvt. Ltd. and largest private sector Pvt. Ltd. with over 50 years presence in financial services and with assets of over Rs 3,569.32 bn (USD 88 billion) as on June 30, 2007. The Pvt. Ltd. offers a wide range of Pvt. Ltd.ing products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment Pvt. Ltd.ing, life and non-life insurance, private equity and asset management. BAJAJ ALLIANZ Pvt. Ltd. is a leading player in the retail Pvt. Ltd.ing market and services its large customer base through a network of over 950 branches (including extension counters), 3469 ATMs, call centers and internet Pvt. Ltd.ing (www.Bajaj Allianz. Ltd..com) to ensure that customers have access to its services at all times.

Established in London in 1848, plc, through its businesses in the UK and Europe, the US and Asia, provides retail financial services products and services to more than 20 million customers, policyholder and unit holders and manages over 256 billion of funds worldwide (as of 30 June 2007). In Asia, is the leading European life insurance company with life operations in China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, Vietnam. is the second largest retail fund manager for Asian sourced assets exJapan as at June 2006. Its fund management business has expanded into a total of ten markets : China, Hong Kong, India, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam and United Arab Emirates.

10. Banc assurance and Alliances :

Bajaj Allianz was a pioneer in offering life insurance solutions through Pvt. Ltd.s and alliances. Within a short span of two years, and with nearly a large number of partners, B & A has emerged as a vital component of the company's sales and distribution strategy, contributing to approximately one third of company's total business. The business philosophy at B&A is to leverage distribution synergies with our partners and add value to its customers as well as the partners. Flexibility, adaptation and experimenting with new ideas are the hallmarks of this channel. Group The Group Business of Bajaj Allianz has been in existence for over 2 years. Today, we are the Number 1 player among private life insurance companies in Group Business excluding Mortgage Reducing Term Assurance (MRTA) with a market share of 26%(FY 2004-2005). We offer the entire gamut of

products including Gratuity, Superannuation Term Insurance, Leave Encashment, Employee Deposit Linked Insurance (EDLI), Mortgage Reducing Term Assurance (MRTA) & Informal Group Term covers. Customer Service & Operations The Operations department oils the work processes between the customer and the company to ensure consistent and quality service to the customer. To streamline the operations, the Operations department interfaces between the clients and the agents, the branches and the underwriters, and manages work processes. The Vision at Customer Service is to deliver 'World Class Service' at every opportunity. Units such as the 9 to 9 contact centre, Outbound Call Centre, Customer Care and Query Resolution Unit are all committed to providing effective solutions to over lakhs of customers across the country. Information Technolgy(IT) The Information Technology function at Bajaj Allianz is committed to enable business through the use of technology. It is segmented into 4 groups to enable highest levels of delivery to the customers: Life Asia Solutions Group that provides flexibility in designing better product offerings to end-users, the Solutions Group- Web that provides realtime information to customers and is responsible for customer relationship management, IT Architecture & Corporate Solutions Group is in charge of developing and maintaining a blueprint for the IT architecture for the enterprise as a whole. This team works as an in house R&D Solution Group, exploring new technological initiatives and also caters to information needs of corporate functions in the organization. IT Infrastructure group is responsible for providing hardware, software, network services to the whole

organization. This group runs the 'Digital Nervous System' of the Enterprise at the highest levels of efficiency and provide robust, scalable and highly available platform for deployment of business application. Marketing The Marketing function at BAJAJ ALLIANZ Pru covers an array of activities - brand and media management, channel support, direct marketing and corporate communications. The Brand and Communications team is in charge of advertising, consumer research, media planning & buying and Public Relations; that helps develop and nurture Bajaj Allianz's corporate identity while effectively communicating its varied product offerings to the customer. Channel marketing provides support to the sales force by streamlining the design and development of collaterals and sales tools across distribution channels. The Direct marketing team was set up to generate high quality leads for profitable business. The team achieves this through target database acquisition and communicating customised product information through e-mailers, telemarketing and innovative direct mailers.

Finance Finance function in Bajaj Allianz is committed to create an infrastructure that is aligned to shareholder expectations. Finance basically comprises of four functions. . Corporate Planning and MIS provide feedback on business strategies. This includes driving the budgeting process, providing strategic inputs for decision-making and management reporting and analysis. The Accounts function includes preparation and maintenance of financial records, funds management, and expense processing and treasury operations. Compliance ensures that every action is within

the regulatory framework. This includes reviewing compliance requirements and supporting the ethical framework of BAJAJ ALLIANZ Pru life. Internal audit provides assurance to the management over the organizations' control framework and includes process risk management, information security assessment and business continuity assessment. HR Processes The people strategy of Bajaj Allianz is "To build a committed team with a culture of innovation, learning and growth. The Human Resource Function at Bajaj Allianz drives the people strategy of the business. With its initial focus on operational excellence to deliver benefits and services to staff members, HR is now committed to building capability through state of the art processes. A robust performance management system, compensation system and a segmented training architecture enable it to deliver value to the organization. Business Excellence The Business Excellence function is committed to building a quality mindset across the organization. Bajaj Allianz is the first organization in the Insurance Industry that has adopted the Six Sigma Methodology for process efficiency and measurement. The team is also driving the Malcolm Baldrige framework across the organization, an intervention that examines management of key inputs for Business Excellence.

SUGGESTIONS

Self-assessment of ones needs; expectations and risk profile is of

prime importance failing which, one will make more mistakes in putting money in right places than otherwise. One should identify the degree of risk bearing capacity one has and also clearly state the expectations from the investments. Irrational expectations will only bring pain. The quality of service should be improved with they are providing to They have to educate Advisors through conducting seminars, Proper care should be taken to motivate the advisor so that they can the existing customer. distributing free broachers, informing about financial planning, mutual fund etc. also make effort from their side to increase their AUM. Some incentive should be provided to them for Advertisement and their sales should be measured so that they can do the promotional activities and regular follow-ups. The company should take due care in selecting an advisor because they are the most important person in the process of all. The company should push them regularly so that they can make their effort to increase their AUM in their area which at present is not. Advisors are not taking due care, they are even hesitating to spend small amount on doing a promotional activity.

It is important to identify the nature of investment and to know if one is

compatible with the investment. One can lose substantially if one picks the wrong kind of mutual fund. In order to avoid any confusion it is better to go through the literature such as offer document and fact sheets that mutual fund companies provide on their funds. One first has to decide what he wants the money for and it is this investment goal that should be the guiding light for all investments done. It is thus important to know the risks associated with the fund and align it with the

quantum of risk one is willing to take. One should take a look at the portfolio of the funds for the purpose. Excessive exposure to any specific sector should be avoided, as it will only add to the risk of the entire portfolio. Mutual funds invest with a certain ideology such as the "Value Principle" or "Growth Philosophy". Both have their share of critics but both philosophies work for investors of different kinds. Identifying the proposed investment philosophy of the fund will give an insight into the kind of risks that it shall be taking in future. A common investor is limited in the degree of risk that he is willing to take. It is thus of key importance that there is thought given to the process of investment and to the time horizon of the intended investment. One should abstain from speculating which in other words would mean getting out of one fund and investing in another with the intention of making quick money. One would do well to remember that nobody could perfectly time the market so staying invested is the best option unless there are compelling reasons to exit. Investing should be a habit and not an exercise undertaken at ones

wishes, if one has to really benefit from them. As we said earlier, since it is extremely difficult to know when to enter or exit the market, it is important to beat the market by being systematic. The basic philosophy of Rupee cost averaging would suggest that if one invests regularly through the ups and downs of the market, he would stand a better chance of generating more returns than the market for the entire duration. The SIPs (Systematic Investment Plans) offered by all funds helps in being systematic. All that one needs to do is to give post-dated cheques to the fund and thereafter one will not be harried later.

12. 50 Great Recruiting Ideas

1. Raffle off a free membership to someone who joins your chapter during your recruiting drive. 2. Obtain testimonials of the value of MENC membership from former members now teaching and share these views with potential members. 3. Announce membership updates at each meeting and remind people to bring friends to the next event. Let your members know that recruiting is a top priority for the group. 4. Host a special "bring a friend" meeting featuring an icebreaker exercise, a brief club orientation, and refreshments. Each member must bring a friend to the meeting. 5. Ask your professors to offer extra credit for MENC membership and/or participation. 6. Create a bulletin board display in a prominent place showing pictures from chapter activities, membership information, and a calendar of upcoming events. 7. Display business cards of former chapter members now teaching to demonstrate that chapter members are going on to find jobs in their field. 8. Hand out MENC brochures to students in general music or education classes. 9. Announce upcoming chapter meetings in your music and education classes; invite everyone to attend. 10. Contact visitors after they have attended a meeting. Thank them for visiting the chapter and invite them to your next event. 11. Ask members for names of friends and classmates who could benefit from MENC membership. Send these people a personal invitation to attend your next event.

12. List your upcoming meetings in your department newsletter and campus newspaper. 13. Have chapter officers give a presentation on the value of MENC membership to music education classes, the school's different bands, or at a student-faculty meeting. Then hand out applications and brochures with your contact information. 14. Establish a "Big Brother/Big Sister" program that pairs incoming freshman with established members of your chapter. This will personalize your chapter by getting everyone involved and feeling accepted. 15. Send an invitation letter to all incoming freshmen in the music department describing MENC and providing information on when and where your first meeting will be. 16. Ask sponsoring chapter members to provide free resume critiques to anyone in your chapter who joins MENC this month. 17. Set up a table displaying MENC materials at freshman orientation or a student activities fair. 18. Ask your sponsoring chapter to subsidize $5$10 of the student dues for new students joining during your membership drive, then offer this discount to new members. 19. Ask for donations of items such as notebooks, mugs, or gift certificates from the campus bookstore and other local businesses. Offer these as incentives to new members who join during your membership drive. 20. Offer a prize to the person in your chapter who recruits the most new members. 21. Waive or reduce local membership dues for students who join MENC.

22. Provide students who visit your meeting with an information packet about your chapter and MENC. Include a calendar of events, a list of chapter officers, and an application to join. 23. Send out a flyer about your chapter to a targeted group such as new music education majors, undeclared freshmen, or education majors. 24. Invite a successful professional in your community to speak to your chapter on the value of joining professional associations. 25. Display copies of Music Educators Journal, Teaching Music, NewsLink feature articles, and your chapter newsletter at every meeting. 26. Publicize any awards your chapter or members have won, such as a Collegiate Growth Award, Chapter of Excellence, or Professional Achievement Award. People like to join groups that are successful. 27. Ask professors to mention MENC to students in their advising sessions. 28. Write an article for your campus paper on a successful chapter project or high profile speaker. 29. Create a membership committee to focus on new ways to bring in members. 30. Organize a behind-the-scenes tour of a popular organization such as an amusement park, casino, or winery. Require students to be members in order to attend. 31. Offer a chapter scholarship or book award (money towards textbooks) for members only. 32. Make your first meeting of the year a "pizza night."

33. Highlight and explain a different membership benefit at each meeting. 34. Hold a meeting in the computer lab and demonstrate the valuable information available to members. 35. Co-sponsor a high visibility event on campus, such as a dance, concert, seminar, or sporting contest to raise awareness of your chapter and its activities. 36. Participate in a charity event with other clubs. Invite members of other groups to visit one of your meetings and learn more about your chapter. 37. Survey current members to determine what benefits are most valuable to them. Emphasize these benefits when creating flyers or speaking to potential new members. 38. Hold a joint meeting or event with a related music or education club. 39. Hold an informational meeting for prospective members. Have members and chapter alumni tell visitors how networking through MENC helped them find internships and jobs. 40. Think WIIFM"What's In It For Me?" That's what prospective members are asking themselves. Be sure to tell them specifically how membership will benefit them. 41. Talk to lots of people about MENC. Experts say it takes ten calls to make one sale. 42. Plan chapter social events in addition to educational activities. People like to join groups that are friendly and fun.

43. Make each prospective member feel special. Make an effort to remember names and to smile and greet people by name when you see them around campus. 44. If you have non-members who have come to several events, give them an application and ask them to join. Some people never join simply because no one has taken an interest and encouraged them to sign up. 45. Make it easy to participate. Establish and publicize a regular meeting schedule. Provide a local contact name, phone number, and e-mail address on all your materials and then respond to inquiries promptly! 46. At the beginning of the fall semester, send a letter to all School of Music professional organizations, fraternities, and sororities in an effort to build unity among the organizations and solicit active participation during the school year. 47. Review your chapter's past rosters and remind expired members to renew their membership. 48. Offer an incentive to members who bring at least two guests to a meeting. 49. Print names of new chapter members in your newsletter and recognize them at chapter meetings. Demonstrate that your club is strong and growing. 50. Always speak with excitement and pride when describing your chapter. Enthusiasm is contagious!

12.1 Method adopted for Recruitment of Agency:

At India Recruitment Agency, we not only offer recruitment consultancy services to our client companies, but also give

the applicants a perfect platform to get their dream jobs. We can help our clients to get the best candidates, cultivate them and retain them. Our comprehensive recruitment solutions as HR consultant in India will surely provide you with profitable propositions for your workforce requirements. With our in depth knowledge different domains, we are able to provide the best manpower consultancy services and recruitment services for our clients in India. We are well equipped with facilities like interview chambers, conference rooms, audio, video conferencing facilities, security and company-wide networking and many other facilities to fulfill the demanding requirements top quality recruitment solutions. We take pride in our quality professional and personal services and are sure that we can fulfill all your recruitment needs. As soon as our clients contact, we assign them a team, having experience in that particular sector. We have developed a well defined recruitment procedure that is optimized for ease and efficiency. The recruitment process begins with the employer and the India Recruitment Agency executing an agency agreement, adequately stating the terms and conditions regarding the demand and supply of manpower. The agreement is formally signed by both parties towards acceptance of stated terms and conditions upon which the manpower trade is executed.

12.2 Different stages involved in recruitment Procedure are:Demand Letter:

The client company formally will issue a demand letter

stating the different job vacancies, nature and type of workforce required, contract period for job, monthly salary, number of people required and other perks and amenities ( such as - food, medical, transport, air passage, accommodation and more) the employer is providing.

Letter of Authority:
The client company will issue a letter of authority in favour of India Recruitment Agency addressing to the consulate general of the concerned embassy in India. The letter informs the concerned that that India Recruitment Agency is their bonafide manpower recruitment agent fully authorized to deal with all visa matters , submissions and delivery, with the concerned embassy.

Agreement of Employment:
Agreement of employment is a standard contract of employment between the employer and employee.

Selection:
The selection procedure involves different stages and the first is - the documentation and collection of paperwork required for establishing identity and qualifications of candidates and the authentication of details furnished by candidate. We carry out different testing and screening procedures to check the ability of candidate for the desired job profile. The final selection of candidates is based on a cumulative result of a range of tests and stringent selection procedure, which ensure effectiveness.

Medical Checkup:

After the final selection process is completed, we make sure that the selected candidates undergo a medical check-up by authorized medical personnel as required by our client company.

Application for Visa:

India Recruitment Agency also conducts visa application procedures in respective embassies on behalf of the respective candidates.

Ticketing and Emigration:

We, at India Recruitment Agency, fulfill all traveling requirements of selected clients. This is done in close interaction with the employer and it also facilitates the emigration procedures in consultation with the concerned departments of Government.

Orientation Before Departure:

As part of our commitment to make available well informed candidates, we provide basic orientation and guidance for candidates in respect with the laws and regulations of the country of emigration.

13. Conclusion
By the study policies of Bajaj Allianz life Insurance, I concluded following:-

 The market values of companys share are growing day by day which are not common in every field. Better plan prove for better sales of policies which is good advantage of this company. It is multinational private Ltd provide good opportunity to its customer in the field of Insurance. It gives better policies to its customer which satisfied them. It contributes in GDP growth of India. Indian economy is getting better day by day. People in India are now more concerned towards Insurance. This sector is providing lot of employment & careen.

BIBLIOGRAPHY
COMPANY PRODUCT CATALOGUES & WEBSITE. SEBI WEBSITE. GOOGLE.COM WWW.BAJAJALLIANZ.COM. AMFI INDIAN WEBSITE.