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HR POLICIES OF

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TATA AIG INSURANCE COMPANY


Tata AIG Insurance Solutions is one of the leading insurance companies that provide both life insurance as well as general insurance.

Joint collaboration between the American International Group, Inc. (AIG) and Tata Group.
They own the company in the ratio of 26:74. It is a leading financial institution that has carved a niche for itself all over the world.

TATA AIG GENERAL INSURANCE COMPANY


Tata AIG General Insurance Company started its operations in India on January 22, 2001,

Gaurav D. Garg is the Managing Director & CEO, Tata AIG General Insurance Co. Ltd.

TATA AIG LIFE INSURANCE COMPANY


Tata AIG Life Insurance Company was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.

Mr. Suresh Mahalingam, (M. Suresh) , MD, Tata AIG Life Insurance Company.

Human Resource Policies


Human resource policies are systems of codified decisions, established by an organization, to support administrative personnel functions, performance management, employee relations and resource planning.

Functions of the HR Department of TATA AIG


Recruitment and Selection Induction Competence Development Providing compensation and other employee benefits Performance Management Talent and Career Management

Sources of Recruitment
Placement Agencies and Consultants Campus Recruitments Off-campus Recruitments Internal Job Postings Promotions(existing employees) Moving across verticals(existing employees)

Selection Process
There is a screening process based on the resumes of applicants followed by group discussion and personal interview.

Types of Employees
TATA AIG has both permanent employees as well employees on contract basis. Both are on company pay rolls. Company employs financial advisors who are not on company pay roll but work on commission basis.

Compensation of Employees
Basic- 30% of annual salary Bonus(yearly) HRA Medical Allowance Conveyance Allowance Other Allowance(Food, mobile phone bills, etc.)

Benefits apart from salary


Mediclaim Superannuation benefits Performance bonus Incentives

Measuring Employee Performance


Goal Sheet Target Achievement Quality of work Ethics used in target achievement Customer satisfaction

Training and Development of Employees


On job training E-learning course Career progression programs Leadership development programs

Motivating Employees
Motivational training programmes Providing Incentives Recognition to employees Providing sponsored holidays for employees and their family Helping them in converting a prospect into a sale.

Special Motivational Programes


Friday Movie Mania Recharge zone Sports Club Annual Theme Party Celebration Week Town Hall World of Work(WOW)

Rewards and Recognition for employees


Inspired by the blockbuster The Matrix the employees are given recognization on the basis of their performance. The employees are recognized on the basis of their individual and team efforts Acknowledged recipients are displayed on the wall of fame at all branches

Grievance Redressal
There is no proper grievance cell but they have a Disputes Settlement Department within the organization which looks after settling issues among employees or any complaints of the employees.

Equal Opportunity Employer


TATA AIG does not discriminate between men and women while employing people. It also provides employment to physically disabled people.

Conclusion
Tata AIG offers opportunities to learn, contribute and build careers. As a leading name in the fast-paced insurance industry, they are constantly growing and are always in search of bright talent across all levels. The Company's philosophy is strongly oriented to developing talent through motivational programes. They recognize potential and consistent performance and their dynamic corporate culture can be summed up as Work hard, play hard.

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