A PROJECT REPORT

ON

CANDIDATE SELECTION PROCESS FOR INSURANCE ADVISOR PROGRAMME

GUIDED BY DR, HARISH SINGH SUBMITTED BY: TUSHAR PATIYAL ROLL NO. 71 B.B.A VTH semester

MAHARAJA SURAJ MAL INSTITUTE

NE

DELHI

ACKNOWLEDGEMENT
On the eve of admission of this project report I take this pleasure to acknowledge all those personalities who have guided and encouraged as well as cooperated and assisted in accomplishing this project. Success is an endeavor, calls for the cooperation and guidance from the seniors and the colleagues. No amount of written expression is sufficient to show my deepest sense of gratitude to them. This was aptly rought to me while undergoing my training. I would like to take opportunity, especially to express my profound gratitude and inde tedness to !r. Sushil "erma# !anager, Tata $I%, for his constant assistance and guidance.

I also deem it to e my privilege to acknowledge the encouragement and facilities provided to me y T$T$ $I% &ife Insurance 'ompany &td. to make this project a fruitful one. I am thankful to Mr. Deepak Chakrobarty and Mr. Basudev Bose, D re!tor "ndraprastha Consu#tan!y $erv !es, $en or Bus ness Asso! ates % th Tata A"G L &e "nsuran!e Co. Ltd. for his exemplary guidance, monitoring and constant encouragement throughout the project. I am also thankful to all those people of TATA A"G L &e "nsuran!e Co'pany Ltd. whom I came across for their extended support during the project period.

I remain deeply appreciative of persistent cooperation of my project guide D(. )A("$) $"NG) for his support throughout the project.

"NDE*
CE(T"+"CATE O+ T)E COM,ANACKNOWLEDGEMENT ,(E+ACE C)A,TE(./ E*EC0T"1E $0MMA(- O+ T)E ,(O2ECT C)A,TE(.3 COM,AN- ,(O+"LE C)A,TE(.4 Introduction (istory )roduct )rofile Sales figures* !arket Share Organi+ational 'hart 2OB DE$C(",T"ON ,etailed -o )rofile $rea $ssigned Target $ssigned ,ay to day on jo experience

C)A,TE(.5 +"ND"NG 6 ANAL-$"$ ,ifficulties faced !ajor limitations

C)A,TE(.7

CONCL0$"ON 6 $0GGE$T"ON$ .uture %rowth )rospects / Suggestion

ANNE*0(E 01 2i liography 31 4uestionnaire

"NT(OD0CT"ON ON TATA A"G

T)E TATA G(O0,

The Tata %roup, easily India5s most recogni+ed usiness group, was founded y -amsetji Tata and egan with a textile mill in central India in the 0678s. .rom there, it has evolved into a truly diversified conglomerate spanning, among other sectors, 9ngineering, 9nergy, 'hemicals, 'onsumer )roducts, and 'ommunications / IT. The Tata %roup is one of India:s groups with an estimated turnover of around ;S <0=.3> est#known industrial illion ?approximately

3@A of India:s %,)1. Bith more than 338,888 employees across C0 major companies, it is also India:s largest employer in the private sector. The Tata %roup pioneered several firsts in Indian industry firsts, includingD India5s first private sector steel mill, first private sector power utility, first luxury hotel chain and first international airline, amongst others. Eecently, the Tata %roup5s pioneering spirit has een showcased y companies such as Tata 'onsultancy Services ?T'S1, $sia5s largest software and services company, and Tata !otors, the first car maker in a developing country to design and produce a car from the ground up. The Tata %roup sta le of rands also includes many national and some internationally renowned product and service rands, includingD

Tata Motors 8'u#t .ut # ty !ars9

Tata and practical Tata Sumo.

!otors,

India5s

largest

automo ile

company,

manufactures two kinds of multi#utility vehiclesD the well#appointed Tata Safari

Tata Motors ?,assen:er Cars9

Tata !otors has a pioneering presence in India5s automo ile industry, est illustrated y the path# reaking creation of the Indica, a hatch ack that was the country5s first indigenously designed and manufactured car. Since then the company has expanded its passenger cars portfolio, which now also oasts the Indigo, a sedan, and the Indigo !arina, a station wagon.

The Ta; Group o& )ote#s 8Lu<ury, Bus ness and Le sure9

-amsetji Nusserwanji Tata, the founder of the Tata %roup, incorporated the Indian (otels 'ompany on $pril 0, 0C83, for the ownership and

operation of the renowned Taj !ahal )alace and Tower, !um ai. Indian (otels and its su sidiaries are collectively known as Taj (otels Eesorts and )alaces and, together, form the largest hotel chain in India

Tata Tea 6 Tet#ey

The Tata %roup runs the world5s second#largest randed tea operation. Tata Tea and Tata Tetley are the two companies that power the group5s leadership drive in the worldwide tea industry.

Tata $a#t

2esides tea and coffee, Tata %roup enterprises are also involved in the production of food additives and spices. Tata Salt is the No 0 food rand among India5s most trusted rands. India5s most preferred salt is one of the purest availa le in the country. !oreover, Tata Salt contains the right amount of iodine, vital for physical and mental growth and development.

T tan

Titan Industries is India5s leading manufacturer of watches and the world5s sixth largest manufacturer rand of watches. The company makes a out 7 million watches and clocks every year and has a customer ase of some @8 million. It enjoys over >8 per cent market share in India5s organi+ed watch segment.

Tan sh=

TanishF, a division of Titan Industries, is India5s largest jewellery rand. It has 7= outiFues in >> cities across the country

Wests de 8Gar'ent (eta # Out#et9

Trent, the Tata 'ompany that owns and operates the Bestside chain of lifestyle stores, retails garments and household accessories. Set up in 0CC6, Bestside is among the fastest#growing retail chains in India. It has a team of dedicated merchandisers, store staff and in#house designers, and its store portfolio comprises clothes and accompaniments for men, women and children. The chain also sells household accessories, cosmetics and perfumes. The other products and rands areD Tata Steelium, Tata Shaktee, Tata Tiscon, Tata 2earings and "oltas. 2y com ining ethical values with usiness acumen, glo ali+ation with national interests and core usinesses with emerging ones, the Tata %roup aims to e the largest and most respected glo al rand from India whilst fulfilling its long#standing commitment to improving the Fuality of life of its stakeholders.

T)E A"G G(O0,

$merican International %roup, Inc. is the world5s leading international insurance and financial services organi+ation, with operations in more than 0G8 countries and jurisdictions. $I% mem er companies serve commercial, institutional and individual customers through the most extensive worldwide property#casualty and life insurance networks of any insurer. In the ;nited States, $I% companies are the largest underwriters of commercial and industrial insurance and $I% $merican %eneral is a top#ranked insurer. $I%5s glo al usinesses also include retirement services, financial services, and asset management. $I%5s financial services growing glo al consumer finance usinesses include aircraft leasing, financial usiness in the ;nited States. $I% also has

products, trading and market making. $merican %eneral .inance leads $I%:s one of the largest ;.S. retirement savings usinesses through $I% Sun$merica and $I% "$&I', and is a leader in asset management for the individual and institutional markets, with speciali+ed investment management capa ilities in eFuities, fixed income, alternative investments and real estate.

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TATA A"G
Tata $I% &ife Insurance 'ompany &td. is a joint venture of the Tata %roup and $merican International %roup, Inc. ?$I%1. The Tata %roup holds 7= per cent stake in the two insurance ventures while $I% holds the alance 3@ per cent stake. Tata $I% %eneral Insurance 'ompany, which started its operations in India on -anuary 33, 3880, offers the complete range of insurance for automo ile, home, personal accident, travel, energy, marine, property and casualty, as well as several speciali+ed financial lines.

Tata $I% &ife Insurance 'ompany &td. is India5s leading insurance company providing oth &ife and %eneral Insurance. It represents the trust and integrity of T$T$ group com ined with the international expertise and financial strength of $I%, Inc. +or nd v dua#s> motor, health, and accident and health n travel. +or Corporate> accident n health, travel, energy, property, marine n contingency.

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MANAGEMENT
Trevor Bu## ? Mana: n: D re!tor !r. Trevor 2ull joined Tata $I% &ife as !anaging ,irector in -anuary 388@. )rior to this, Trevor was Senior "ice )resident and %eneral !anager at $merican International $ssurance in Horea. Trevor has over 36 years of experience in the life insurance industry and has spent considera le time working in -apan and 2ritain. (is experience covers an array of skills at various authority levels including ,irector, Eegional 9xecutive, Senior &ine !anagement and )roject !anagement. $dditionally, Trevor has acFuired keen insights into ;nit &inked, conventional life and health insurance* reinsurance and all major products / distri ution channels.

12

$WOT ANAL-$"$ O+ TATA A"G

13

$WOT ANAL-$"$
$ SBOT ?Strengths, Beaknesses, Opportunities and Threats1 is a tool used to provide a general or details snapshot of a company:s health. $n effective SBOT analysis will help determine in which areas a company is succeeding, allowing it allocate resources in such a way as to maintain any dominant positions it may have. $tren:ths> Tata $I% has the strong rand name of T$T$ / $I% with it. It offers a good career path for advisors. ? $dvisor to 2usiness $ssociate to a Senior 2usiness $ssociate / finally to a !anagerial 2usiness $ssociate1 Tata $I% has a good reputation among customers. It gives Ist year highest commission. Tata $I% has a strong training support Tata $I% is the only Insurance 'ompany in the world rated $$$ y SB). It is the only company that provides whole infrastructure to new advisors. It ensures a long#term growth for the insurance advisors.

WEAKNE$$> Tata $I% is conservative in the context of advertising. It is an underwritten driven company.

O,,O(T0N"T"E$> Tata $I% provides protection against financial loss / helps in future planning. They also provide additional rewards for advisors.

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T)(EAT$> 2ecause of the mushrooming of the private insurance companies, there is increased competition. The training period of 06 working days*088 hrs and the fee of 0888*#, also stands as a hindrance for people who are interested to ecome insurance advisors

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"N$0(ANCE (EG0LATO(DE1ELO,MENT A0T)O("T- 8"(DA9

16

ABO0T "(DA

IE,$ is a government

ody that protects the interests of the

policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto. The way E2I controls all the anks, in the same manner IE,$ takes control of all the insurance companies. It includes registrations, licensing and laying down regulations for proper conduct of usiness.

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"(DA NO(M$ +O( T(A"N"NG A$ A +"NANC"AL AD1"$O(

$ financial advisor must possess a license issued y IE,$. The Fualifications necessary efore a license can e given are that the

person mustD 2e at least 06 years old (ave passed at least the 03th standard or eFuivalent examination (ave undergone practical training for at least 088 hrs in life or general insurance usiness (ave passed the pre#recruitment examination conducted y the IE,$.

DOC0MENT$ (E@0"(ED

On the time of the registration, the candidate has to ring along a list of documents. These areD @ photographs Identification proof ,ate of irth proof (ighest 9ducation proof Eesidence proof Es. 0888*# ,emand ,raft favoring ITata $I% &ife Insurance company &td.J )aya le at New ,elhi.

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,(OD0CT ,(O+"LE

19

,(OD0CT$

Tata $I% &ife Insurance 'ompany speciali+es in helping their customer in fulfilling their future financial goals and uilds an extra security cover for their family and loved ones. The various products offered areD

"nvest assure. 0n t L nked "nsuran!e ,#an> This highly flexi le plan gives you full life cover $N, high returns $N, the flexi ility of deciding the length of your life cover term, the amount of cover you receive / where the rest of your premium is invested.

Maha# &e> This exceptional policy ensures that you have a steady income and insurance coverage for lifeK )remiums are paya le only for the first 03 years. Lou can even use this to create a steady stream of post retirement income.

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Edu!are> This first of its kind juvenile endowment policy is geared toward funding your child:s education. Lou can choose etween $ssure 9ducare 06 and $ssure 9ducare 30, depending on your child:s needs.

$hubh L &e> This plan provides you 088A life insurance protection and high returns on your investment ut the premiums you pay are among the lowest of any similar endowment policy.

Money $aver ,#an > This savings plan provides you with cash payments in the form of survival enefits at regular intervals to fund your child:s needs at critical milestones or support your financial o ligations. Lou get

21

the dual enefits of life insurance coverage plus the flexi ility of periodic payments.

N rvana 6 N rvana ,#us> This is India:s first and only pension policy with a guaranteed addition of 08 percent of sum assured every > years. Lou can choose from three levels of cover, and also decide the age you want to retire.

$tark d> $n exceptional endowment policy that ensures you can afford to give your child the very est for his career / marriage.

)ea#th ,rote!tor> The average cost for a major surgery or treatment in hospital is etween three to five lakh. (ealth )rotector is the first product

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of its kind in India that offers you protection in case $NLON9 in your family has an accident or falls ill.

MA(KET $)A(E

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GENE(AL A*A ALL"ANA M0N"C) (E $W"$$ (E AEGON A1"1A ,(0DENT"AL A"G

MA(KET $)A(E
T$T$ $I% &ife Insurance 'ompany has said that it aimed to per cent y 3887. !r. Trevor 2ull, !anaging ,irector, Tata $I%, estimated that y 3887, private players would have a out =8 per cent of the total life insurance marketM e the

num er#two private player in the life insurance industry with a market share of 38

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currently dominated y the &ife Insurance 'orporation. Tata $I% &ife Insurance 'o. is expecting a 6>#C8A growth in its total premium income in 8@#87. Tata $I% has 6> offices in cities, and would e opening 38#3> new offices during 8@#87 to cater to a larger customer ase. )rofit from %eneral Insurance for 8>#8@ is estimated to e 0G.@ crore.

25

O(GAN"AAT"ONAL C)A(T

26

MANAG"NG D"(ECTO(

D"(. O+ AGENC-

D"(. ALT. C)ANNEL

D"(. O+ T(A"N"NG

D"(. BNKA$$(NC

D"(. (0(AL "N$0(ANCE

N$(
SO;T(

N$(
S9

N$(
SB

N$(
!;!2$I

N$(
NOET(

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B9ST

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9$ST

2OS

-SO

2OS

-SO &OT;S '2, NOI,$ !OTI Ngr

AA)D None $gency (eads BO$> 2ranch Officer Sales 2$O> -unior Sales Officer $E> South 9ast $W> South Best CBD> 'onnaught )lace D"(.D ,irector

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OB2ECT"1E O+ T)E $T0D-

The ob;e!t ve s to des :n out !and date se#e!t on pro!ess &or nsuran!e adv sor pro:ra'. Tata $I% is looking for insurance advisors to give advice and sell insurance. $nd it pays as much as one wants it to. Tata $I% &ife, a company that com ines the trust and integrity of the Tata %roup with the expertise / financial strength of $merican International %roup, Inc. 28

The person receives Borld#'lass training while the marketing / management support ensures their success. So, our main aim is to look out for eligi le candidates who have the time to devote and desire to earn money and then recruit and select them as financial advisors.

DETA"LED 2OB ,(O+"LE

The project reFuired me to approach people and make them aware of the part#time usiness opportunity that Tata $I% is offering, wherein, they will e recruited and selected as .inancial $dvisors. (ere, not only will they earn a lot, ut the growth prospects would also e open to them. .or this, we collected data through various means and some of it was provided y the company as well. Be were supposed to make calls to people, undertaking surveys, etc., make them aware of this opportunity and arranging appointments with our manager. $fter this, they were interviewed and later on selected, if eligi le, for the offered work.

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Our pro;e!t n Tata A"G nvo#ved the &o##o% n: tasks>

(e!ru t'ent> %ays, sour!es and 'eans $e#e!t on Cr ter a $e#e!t on ,ro!edure

T)E 0N"@0E BA MODEL

Tata $I% offers a uniFue 2$ !O,9&. This is what makes Tata $I% different from other Insurance companies. $ll private insurance companies take a person as an agent and keep the as an agent all through their life till the retirement period. 2ut, Tata $I% offers a growth model, where a person joins the company as a financial advisor, and then keeps having a constant

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growth in his earnings as well his position. One can take this as a part time work and can later on make a career also in this. (e may continue with his present jo and the earnings from his this work can act as an add#on* extra earnings to his salary This 2$ !odel acts as the major attraction to people. In the process of the promotions, one reaches to a position of a 2usiness $ssociate, where he is provided with a fixed phone line and office space. $lso, this person handles a team of 38O people and he earns 3>A on the earnings of his team as well.

T)E BA MODEL
Tr:. +"NANC"AL AD1"$O(
,rodu!t on $a#es ,resentat on Te#e!a## n:

$0,,O(T

T er/ M:r BA

3FH 5EH

B po# ! esC DE,EEE pre'. 84 'onths9

4D ?3FCB9po# ! esC G57,EEE 43H !o'' ss on IH av:. 8/3 'onths9 5EH 3EC /,EE,EEE E<a'p#e bonus 8 Av. Earn n:. (s.7EEE 9

$EN"O( +"NANC"AL AD1"$O(

,rodu!ts $k ##s

T er3 M:r BA

31
37H

B0$"NE$$ A$$OC"ATE

O&& !e spa!e ,hone L ne

BA M:r $r. BA M:r

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(EC(0"TMENT 6 DATA COLLECT"ON

(EC(0"TMENT

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It is the process of finding and attracting capa le applicants for employment. The process egins when new recruits are sought and ends when their applications are su mitted. The various methods that we followed for the data collection in the recruitment / selection process of financial advisors areD 1) Data !o##e!ted &ro' 2ust D a# > The idea was to select various e found to e e

segments where appropriate candidates could

recruited as financial advisors. Then the calls were made and appointments were fixed with people who were found to interested. The various segments covered areD Interior decorators 2outiFues 2eauty parlors Travel agents .lorists 'a le operators 'y er cafP owners "ideo li rary owners Tax consultants 'hartered accountants

$ll a ove mentioned segments consist of people who have good contacts. These people have large num er of visitors*customers at their work places and can convince them well and, therefore, act as good financial advisors. These people possess the amount of time that is reFuired from a financial advisor, and also a desire to earn money that motivates them to work harder and give more and more usiness.

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2) Data !o##e!ted throu:h survey at var ous p#a!es > Metro 6 D0 survey> Be approached people here and invited them for a seminar to e held at the office, a out the part time usiness opportunity that Tata $I% was offering. Be approached people who appeared in their retirement age, and who showed interest in indulging in a part time usiness. Their name / contact num ers were taken / later on they were called and invited for a 'O) ?'areer Opportunity )ath1, at the office premises. Barakha'ba road Kasturba Gandh 'ar: Karo# Ba:h "TO Kash'ere Gate

$t the a ove places, we approached people with a Fuestionnaire taking their information. Through that we also asked if they were satisfied with their current earnings and if would like to get involved in any part time usiness opportunity. $lso since how many years was a person residing in ,elhi. $ll this helps in judging who will e a etter person to approach first and who fulfills the criteria we looking out for the most. Data !o##e!ted &ro' )T C#ass & eds 6 Matr 'on a#> 'alls were made at random num ers and people were invited for a one# to Q one meeting with manager. Data prov ded by respe!t ve BAs> Be were assigned under a 2usiness $ssociate each. These 2$s also provided us with data on which we made calls and invited people at our office for the interviews.

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OB2ECT"1E O+ T)E (E$EA(C)

The pr 'ary ob;e!t ve %ou#d be.> The main purpose of the project is to design out candidate selection process for insurance advisor program. The Other ob;e!t ves %ou#d be> . $nalysis of positive and negative things a out the various means used to carry out the recruitment process. To see the availa ility of people and their willingness to indulge themselves in a part time career opportunity. .inally to conclude the findings and suggest the necessary corrective measures and recommendations regarding the future growth prospects.

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T-,E$ O+ DATA
Two types of data: ,("MA(- DATA $ECONDA(- DATA ,("MA(- DATA> . )rimary data is the kind of data, which is collected y the investigator himself for the purpose of the specific study. The data such collected is original in character. The advantage of this method of collections authentic. $ set of 4uestions was put together in the form of two Fuestionnaires . The method of sampling was the random convenient sampling method. $ECONDA(- DATA> . Bhen an investigator uses the data that has een already collected y others is called secondary data. The secondary data could secondary data can e it is economical, e collected from journals, Eeports, internet and various pu lications. The advantages of the oth in terms of money and time spent. The researcher of the report also did the same and collected secondary data from various Internet sites like google.com, yellowpages.com and many more. The researcher of the report also visited various li raries for collection of the introduction part.

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DATA COLLECT"ON
,ata collected from various places such as 'onnaught place and wherea outs, Harol 2agh, Hashmere %ate, etc. Sample si+e, which has een covered, is 0>8. Other information related to project has we site. een taken from company

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A,,(OAC) TO ,EO,LE
To approach people we made calls to them to make appointments. To a section of people who were interested in the opportunity yet did not have time, we had sent someone from the office to attend them and explain a out the whole opportunity in addition to the enefits it offered. Be had also invited people for 'O)s, a seminar that talks a out the whole 2$ !odel and the enefits that a financial advisor can avail once he starts with his work. Be also did surveys, where we approached people face#to#face and gave them a rief a out the opportunity and invited them for a one#to#one meeting or seminar as would suit them. Be mainly approached people who seemed to e in their retirement age or ones who seemed to e on a look out for a jo , part#time or full time. Once people are short listed and recruited, we follow a series of procedures through which they are finally selected. The procedure is known as the selection process and is explained in detail.

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T)E $ELECT"ON ,(OCE$$

40

$ELECT"ON ,(OCE$$
Selection is the process of picking individuals ?out of the pool of jo applicants1 with reFuisite Fualifications and competence to fill jo s in the organi+ation. It can also e defined asD It is the process of differentiating etween applicants in order to identify ?and hire1 those with a greater likelihood of success in a jo . (ere, at Tata $I%, we have followed a series of processes in selection of a .inancial $dvisor.

C("TE("A +O( $ELECT"ON

$tab # ty n De#h > The person should people uild over a person. Natura# Market> This also is a very important factor. The person who is to e selected as an insurance advisor, if he has a natural market he can sell insurances to them also. T 'e> The candidate should have enough time and proper focus for the training as well as for the work. Des re to earn 'oney> This is a factor that a candidate must certainly possess. It would motivate him to give out more and more usiness / if he will have a desire to earn money he would e more devoted toward his work. e a sta le ,elhi resident. This

ensures his having a good num er of contacts / an amount of trust that

41

$ELECT"ON ,(OCED0(E

42

,(OCED0(E

$t Tata $I%, following steps were followed y us in the selection of a financial advisorD Cand dateJs pro& #e sheet> $s soon as the candidate comes, he is made to feel comforta le and then is given a candidate registration form to fill. The candidate is supposed to fill this form to provide us with his personal information. .or e.g. D 'andidate:s address. Since how long he:s een residing in ,elhi (is Fualification (is experience, if worked earlier, etc. asic

,re# ' nary nterv e%> This is done to eliminate the candidates who are not found to e appropriate for the jo .

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Career Opportun ty ,ath 8CO,9> $ seminar is held, to give a rief detail a out the 2$ !odel and the work of a .inancial $dvisor. (e is also notified a out all the details of the enefits he would get out of his jo . This seminar is followed y some tea and snacks for the invitees.

"nterv e%> Once the capa le candidates are selected amongst all, they are called for a One# to#one interview with the !anager. This is carried on ecause D

It helps in o taining additional information from applicant. It facilitates giving general information to applicant such as, company policies, jo , etc., / It helps uild 'ompany:s image among the applicants. (e&eren!es> 'andidate is also asked for references. )revious employers, known pu lic figures, university professors, neigh ors or friends can act as references. These are reFuired so that, once we register the selected candidate with us, we would need to confirm his information provided y him.

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$e#e!t on De! s on> The person is analy+ed y the !anager on the asis of the a ove stages and is then finally selected for the jo .

(e: strat on> This is the final step. Bhen a candidate fulfills all the a ove criteria, the registration is done. The candidate is asked to fill a NAA+, Ne% A:ent App# !at on +or', and su mit his reFuired documents.

DA- TO DA- ON 2OB E*,E("ENCE

On reaching Tata $I%, my daily schedule was to discuss over topics of my course ooks with other trainees, esides reading newspapers. The o jective of this training at Tata $I% was to recruit and select Insurance $dvisors. In the eginning I was provided with the data y the 2usiness $ssociates, under whom we were assigned. On the that Tata $I% has on offer. $ num er of calls made y me were not responded as their num ers had changed. (alf of those with whom I got in contact were not interested in the offer ecause of eing too usy to spare time. Of those who replied favora ly and consented to an appointment for a meeting with the manager, a few asked to call them later. 45 asis of this

data, I was making calls telling them a out the part#time usiness opportunity

.or a num er of days we also conducted surveys at various places. This was done in order to have a new experience as well as in search of persons who ostensi ly appeared to e eligi le for the jo of an Insurance $dvisor. They were invited either for a 'O), 'areer Opportunity )ath, or for a one#to#one meeting with !r. Sushil "erma, the !anager. &ater they were called on phone and given appointment on mutual convenience. $s far as my understanding goes, most of those contacted were not interested in attending seminars, positive. On daily asis, three to four persons used to visit the office at the appointed time to meet the manager. !any of them were accepting the offer, ut for most of them the training period, ?06 full working days1, was a hindranceM for very few ones, the fee amount of Es. 0888 would come in the way. $ few for whom the offer was accepta le would keep delaying y excuses of eing usy. .rom those who were una le to personally attend the training were offered to undertake online. Some of them were rejected ecause they were not an online profile, i.e., undergraduates. The modus operandi for a personal meeting was to make him comforta le at first. Then he was offered to fill the candidate registration form to get his asic personal information. Those who appeared matured and enefits, where he was experienced, were straight directed to meet the !anager, Tata $I% for getting himself informed a out the career path and its explained a out the Tata $I%:s uniFue 2$ !odel and its details. $nd the rest were initially attended y us and those we found fit were finally sent to the !anager:s room. Interspersed, were sessions held y experienced managers to enhance our knowledge a out insurance sector and riefings on Tata $I% were given off and on. 9very now and then were given lectures y senior officials to improve our telecalling skills and how to interact with persons. ut their response to person#to#person contact was generally

46

$t the day#end, the !anager would sit with us to get the riefing of day:s work and give us next day:s plan.

L"M"TAT"ON$
$lthough I had a wonderful experience while working with Tata $I%, yet I faced a couple of difficulties. 9very task has its own limitations, and so did this recruitment / selection process of the insurance advisors. They were as followsD .irstly, two months is a very short period to contact people and recruit them. )eople, who are already working on a C.88#>.88 jo , find it difficult to take out time / come for the interview. )erception of telecalling amongst people is that one has called to sell insurance policies. $vaila ility of people is less at the time our surveys were conducted, i.e., at afternoon on working days. The duration of training period ?06 days*088 hrs1 has proved to inconvenient for those who are refrain from joining after initial contacts. e usy in other vocations. So people

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 2eing an opinion survey the personal iases of independent respondents might have entered his*her opinion.

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B"BL"OG(A,)-

The various

ooks that I had consulted for the successful completion of my

summer training project are listed elow. These areD

H. $swathappa, I(uman Eesource and )ersonnel !anagementJ, Tata !c%raw#(ill )u lishing 'ompany &imited, New ,elhi Shawn $ Smith, Ee ecca !a+in # 2usiness / 9conomics )hilip Hotler, I!arketing !anagementJ, )rentice#(all of India )vt. &td., New ,elhi

Be visited the following sitesD www.tata.com

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www.tata#aig*life.com www.aig.com

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CONCL0$"ON
Bith introduction of the foreign sector in the field of Insurance, it has ecome extremely competitive. Insurance involves tiring field work and tele contacting, the prospective customers Q to persuade them and convince them a out future enefits of the insurance scheme. The Tata $I%, a multinational insurance concern, is usy in recruiting and selecting insurance advisors tactfully, skillfully and with expertise. In view of the competition, especially in the private sector, the Tata $I%, makes efficient sales team effort with expertise and acumen to create excellent customer relationship management with great online support and personal contacts. The Tata $I% is one of the most prominent insurance companies with international expertise and experience.

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