SUMMER TRAINING REPORT

ON

Recruitment and
selection
of
life insurance Agent
In the partial fulfillment of the Degree of Master of Business Administration
Session (2008-2010)

Submitted to

Submitted by

Dr. Yasmin Jhanjhua

Nitin Gupta

Professor
SILB Solan

MBA 3rd Semester

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.

(Nitin Gupta)

STUDENT DECLARATION
I hereby declare that study of process of recruitment and selection 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 guide and
Managers of the company.
I hereby declare that the contents of this report are true and best to my knowledge.

(Nitin Gupta)

DECLARATION
This is to certify that the project report entitled the process of recruitment and selection
of Life insurance agent submitted for the degree of MBA for Shoolini Institute of Life
sciences and Business management , Affiliated to Himachal Pradesh University from
(1st july, 2009 to 31st August, 2009) is a bonafied research work carried by Nitin Gupta,
student of Shoolini Institute Of Life Sciences And Business Management.

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 form 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 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 specially
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
NO.
CHAPTER 1

PARTICULARS

INDUSTRY PROFILE

PAGE NO.
8-18

CHAPTER 2

COMPANY PROFILE

19-35

CHAPTER 3

INTRODUCTION OF RECRUITMENT AND 36-51

SELECTION PROCESS OF AGENT

CHAPTER 4

RESEARCH METHODOLOGY
OBJECTIVES OF THE STUDY

52-54

CHAPTER 5

DATA PRESENTATION AND

INTERPRETATION

55-60

CHAPTER 6

LIMITATIONS AND FINDINGS

61

CHAPTER 7

CONCLUSION AND SUGGESTIONS

62

CHAPTER 8

BIBLIOGRAPHY

63

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 for ever. 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 form 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 ho 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 Lloyds
Coffee House in London. Traders, who used to gather in the Lloyds 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 assured by effecting a valid assignment of
the policy. A married womens 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 himself 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 passengers 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 companys 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 every 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
S.No.

Registration
Number

Date of Reg.

Name of the
Company

101

23.10.2 HDFC Standard Life Insurance

000
Company Ltd.

104

15.11.2 Max New York Life Insurance Co.

000
Ltd.

102
313 105
14 103
4 107

23.10.2 ICICI
RoyalPrudential
Sundaram Life
Alliance
Insurance
24.11.2
Insurance
000
Company Limited
000
Company Ltd.
23.10.2 Reliance General Insurance Company
10.01.2 Kotak Mahindra Old Mutual Life
000
Limited.
001
Insurance Limited
31.01.2
04.12.2
001
000
12.02.2
22.01.2
001
001

Birla Sun Life Insurance Company

IFFCO Tokio General Insurance Co. Ltd
Ltd.

717 111
113

30.03.2
02.05.2
001
001

18 115
8 114

Bajaj
Allianz
General
InsuranceLimited
SBI
Life
Insurance
Company
Company
Limited
.
ICICI Lombard General Insurance
ING
VysyaLimited.
Life Insurance Company Private
Company
Limited
Apollo DKV Insurance Company
Limited
Bajaj
Allianz Life Insurance
Company
Limited
Future Generali
India Insurance
Company Limited
Metlife India Insurance Company
Universal Sompo General Insurance
Ltd.
Company Ltd.
Future Generali India Life Insurance
Reliance Limited
Life Insurance company Ltd.
Company

03.08.2
02.08.2
001
001
03.08.2
03.08.2
007
001
04.09.2
007
06.08.2
001
16.11.2
007
04.09.2
03.01.2
007
002
19.12.2 IDBI Fortis Life Insurance Company
14.05.2 Ltd.
Aviva Life Insurance Co. India Pvt. Ltd.
007
002

5 109
15 106
6 110
16 108

19 131
9 116
20 132
10 117
21 134
11 133
22 121
12 135
23 122
24 127

Tata
AIG
Life
Insurance
Company
TATA
AIG
General
Insurance
Company
Ltd.
Ltd.

06.02.2 Sahara India Insurance Company Ltd.

004

25 128

17.11.2 Shriram Life Insurance Company Ltd.

005

26 130

14.07.2 Bharti AXA Life Insurance Company

006
Ltd.

27 133

04.09.2 Future general Indai life

007
Insurance Co.Ltd

28 135

19.12.2 IDBI Fortis Life Insurance Company

007
Ltd.

29 136

08.05.2 Canara HSBC Oriental Bank of

008
Commerce Life
Insurance Company Ltd.

30 138

27.06.2 Aegon Religare Life Insurance Company

008
Ltd.

31 140

27.06.2 DLF Pramerica Life Insurance Company

008
Ltd.

List of General Insurance Companies

123

15.07.2 Cholamandalam General Insurance

002
Company Ltd.

2.

124

27.08.2 Export Credit Guarantee Corporation

002
Ltd.

3.

125

27.08.2 HDFC-Chubb General Insurance Co.

002
Ltd.

139

27.06.2 Bharti Axa General Insurance Company

008
Ltd.

141

15.12.2 Raheja QBE General Insurance Co. Ltd

008

Company
profile

History of Bharti AXA Life Insurance

Bharti AXA Life Insurance is a joint venture between Bharti, one of Indias 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

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

professionalism

Team Spirit

Innovation

values

Integrity

Pragmatism

Strategy
To achieve a top 5 market position in India through a multi-distribution, multiproduct 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 recognised as being close and qualified by our customers

Bharti Group

Bharti Airtel Ltd

Bharti Airtel Ltd is one of Asia's leading telecommunications service provider. The
Company is Indias 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 Indias 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 interntional 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 companys 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 corporates. 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 Indias 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 Indias 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 Bhartis Venture with EL Rothschild Group owned ELRO
holding India Ltd., to export fresh Agricltural 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 SAs 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 its 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 maturity

maximum age at entry is 53 years.

70 years

Minimum premium

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

Premium modes

Rs18,000 p.a for monthly mode

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 holder choice from 2nd 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

Premium modes

80 years
Single pay, yearly, Half-yearly ,Quarterly
and monthly

Minimum premium

Annual Regular Premium:

Rs.12, 000p.a.

Minimum policy term

10 years

Minimum top-up premium

Rs.2, 500 and no maximum limit on topup 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, childrens 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)

Maturity age

55 years (For death benefit option b)

80 years (for death benefit option A)

Policy benefit period

75 years (for death benefit option B)

80 year less age at entry (for death
benefit option A)
75 years less age at entry (For death

Premium payable period

benefit option B)
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.
1.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.
2.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 childrens
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
Minimum age at entry
Maximum age at entry
Minimum sum assured
Minimum premium

Eligibility
18 years
55 years
Rs.5 ,00,000
RS.1,500 for yearly,Rs.780 for half-yearly,
Rs.405 for quarterly and Rs.135 for

Policy benefit period

Maximum age at maturity.
Premium paying term
On death
A sum assured is paid to the policy holder

monthly premium
5,10,15,20 and 25 years
60 years
Equal to the policy benefit period.
On survival
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.

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.

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.,

teambuilding 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 licence under
Section 42 of that Act. The licence is to be issued by the IRDA. The IRDA has authorized
designated persons, in each insurance company, to issue the licences on behalf of the
IRDA.
In terms of the Insurance Act, a licences will not be given if the person is
(a)
minor,
(b)

found to be of unsound mind,

(c)

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

(d)

found guilty of or knowingly participation in or conniving at any fraud,

dishonesty or misrepresentation against an insurer or an insured,

(e)

not possessing the requisite qualifications and specified training,

(f)

Found violating the code of conduct as specified in the regulations.

(g)

The fee for a licence is Rs.825 for individual. A licence is granted for 3 years.
It may be renewed after 3 years and again valid for 3 years.

A licence 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 licence can be given are that the person must be

d)

(a)

Not a minor.

(b)

Have passed at least the 12th standard or equivalent examination, if he is to be

appointed in a place with a population of 5,000 or more. (10 th standard
otherwise.)

(c)

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.

Have passed the pre-recruitment examination conducted by the insurance

of India or any other examination body authorized by the IRDA.

institute

The licence 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 licence, 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
licence, 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 licence, 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 licence.

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
(1)
five years and policies for at least Rs50,000 are in force one year before
termination of agency or,
(2)

10 year.

This commission will be payable to the heirs of the agent after the agents death.

FUNCTION OF AN AGENT
Understanding the prospects 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

Natural Market

Uncontrolled

Job Ads/Inserts

Central of Influence

Agent gets Agents

Placement Consultants

Presentation / Seminar

Cold Prospecting

Data Base

Primary

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.

Secondary

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 wiling 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 he/she is in
contact.

Uncontrolled Sources
Job Ads/Inserts

This program should be on regular long range basis.

Example: Navajeevan 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 Navjeevan 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 him self in internet job search sites to
get list of prospects.

Seminars/job fairs
Manager of agency can also organized seminars at
management institutes 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 Paramjit Singh 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
Scoring

Below 25 years Between 25-40

0
2

mechanism
Marital status

Unmarried

Education

1
2
th
10 standard or graduate

married

12th standard
1
2
Tenor of stay in Less than 3 3-5 years
city/town
Household

years
0
Less than

income

lakhs

Total score

More than 40
1

1
2 2-5 lakhs

Post graduate
2
More

than

years
2
More

than

lakhs

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.

Step 5.

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.

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.
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.

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.

A) Sampling Unit: I have completed my survey in CHANDIGARH, MOHALI.
B) Sample Size: The selection of 20 respondents. The sample was drawn from
shopkeepers. The selection of the respondent was done on the basis of simple random
sampling.
C) Contract methods
I have conduct 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 reder impact of the study.

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

Data Presentation and Interpretation

Name: Address:Location:Mobile no.
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 Bhartis 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

2000%; 20%
yes

no

8000%; 80%

Only 20% shopkeepers were interested in taking up this business opportunity with
Bharti.(8 shopkeeper were interested in this activity)

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

1-2 hrs

3-h hrs

5 hrs or more

25%
half hour

1/2 to 2

2 to 4

4 to 5

75%

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

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

Yes

No

2000%; 20%
no

yes

8000%; 80%

80% of shopkeeper said that they have knowledge about insurance.

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

4) Do you have Experience as an agent?

Yes

No

600%; 15%
yes

no

3rd Qtr

4th Qtr

3400%; 85%

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

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

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

1700%; 17%
LIC

HDFC
5000%;

50%ICICI

3300%; 33%

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

33% (2) of shopkeeper working with HDFC Standard Life insurance

33% (1) of shopkeeper working with ICICI Prudential Life Insurance Co. Ltd.

5) Can you spare 1/2 day on training to understand to product and how can introduce it
to your customer?
Yes

NO

400%; 10%
Yes

no
3600%; 90%

10 % of shopkeepers were interesting to spare 1/2 day on training to understand to

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

QUESTIONNAIRE
1)

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

Yes
No

2)

How much time can you dedicate per day for this activity? (For getting
Appointments)
hr
1-2 hrs

3-h hrs
5 hrs or more
3)

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.

4)

Can you spare day on training to understand the product and how can introduce
it to your customer?
Yes
No

5)

How many people do you know in this city?

Under 50
51-100
101-300

301-600
Above 600

Limitation
I didnt get complete feed from the shopkeepers about the question as they are busy in
there 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.
Limited money available for project.

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 there social relation with other and also
effect upon there business.
Most of people believe that private insurance companies carried out fraud activity
thats 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.
Because of three days compulsory training.

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.
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.
The duration of the process of recruitment and selection is too long (one and half month),
during this process mostly candidate loss there interest, so there is an urgent need to
reduce the duration of this period.
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
S. Balachandran, (2009), 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.
Those insured are underinsured.