Bharti Ava life reena kumari.docx

8/11/2019 Bharti Ava life reena kumari.docx

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A

SUMMER TRAINING PROJECT REPORT

ON

TRAINING & DEVELOPMENT PROGRAM

DONE BY

BHARTI AXA LIFE INSURANCE

AT VARIOUS LEVEL

A PROJECT REPORT SUBMITTED IN PARTIAL FULLFILMENT OF THE

REQUIREMENT FOR THE AWARD OF THE DEGREE OF

MASTER OF BUSINESS ADMINISTRATION

AFFILIATED TO UPTU LUCKNOW

BATCH 2012-14

Under the guidness: Submitted By:

Mrs. Shilpa Sharma REENA KUMARI

M.B.A IVrdSem

Roll.No.1236670005

NIKHIL INSTITU TE OF ENGINEERING & MANAGEMENT FARAH MATHURA


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DECLARATION

I, REENA KUMARI , STUDENT OF MBA IVth SEMESTER, STUDYING AT

N I K H I L I N S T I T U T E O F T E C H N O L O G Y F A R A H

M A T H U R A H E R E B Y DECLARE THAT THE PROJECT ENTITLED

TRAINING & DEVELOPMENT P R O G R A M D O N E B Y B H A R T I A X A L I F E

I N S U R A N C E A T V A R I O U S LEVELS

IS ORIGINAL WORK DONE BY ME.THE INFORMATION AND DATA GIVEN IN THE

REPORT IS AUTHENTIC TOTHE BEST OF MY KNOWLEDGE.

(REENA KUMARI)

MBA IVth Sem

Roll no.1236670005


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Acknowledgement

My sincere thanks are due to the management of BHARTI AXA LIFE for having

provided the summer internship opportunity.

I take this opportunity to express my sincere gratitude and profound regards to

faculty guide, who has always given me motivational boost to go and perform. I would

further like to thank him for his persistence to listen to my problems and to give apart

solutions.

I would like to thank my company guide Mrs. SHILPA SHARMA. Who in spite of

his busy schedule has cooperated with me continuously and indeed, his valuable

contribution and guidance have been certainly indispensable for my project work.

I would also like to thank Mr. GURUCHARAN SINGH GANDHI (Training Head),

Mr. VIKAS TIWARI (Deputy Manager), for their invaluable advice and enlightening

my path at every stage of my project and all the senior executives and every associate

of Bharti AXA Life Insurance. (INSURANCE DEPARTMENT), without their

cooperation this project would have been impossible. Last but not the least, I feel

indebted to all those person and organization who have provided help directly or

indirectly in successful completion of this study.


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EXECUTIVE SUMMARY

This Report is an attempt to provide a detailed analysis of the process of training&

development program done by Bharti Axa Life Insurance and benefits of the training.

In my complete student internship program I met more than 50 employees. During this

student internship program I came to know that, knowledge based economy, training helps

people to learn how to do things differently or to do different things.

However, my survey suggests that maximum number of employees, in the turbulent, fast

changing world, effective training has never been more important. Products are now

increasingly knowledge intensive; for this, employers are responsible for providing

opportunities for continued learning.

In my survey I found that 80% of employees are new to the job and they must undergo the

training program.

Finally, creating awareness of organization structure and its products to the employee is very

important to have individual as well as organization growth. So it can be possible only when

the employees go through the training program.


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TABLE OF CONTENT

PART-1

CHAPTER-1 INTRODUCTION 6

1.1Brief history of insurance sector in India 7

Functions of insurance

Functions of insurance

Non life insurance market

Re insurance business

Life insurance market

The insurance regulatory and development authority (IRDA) Insurance companies

1.2 Objective of the study 20

1.3 Research Methodology of the study 21

Nature of resources

Sample Size

Determining sources of data Sample Design

Questionnaire

Limitations

CHAPTER-2 24

Profile of Organization

PART-2

CHAPTER-3 45

Training & Development Program done by Bharti AXA Life Insurance at VariousLevels

CHAPTER-4 56

Analysis

CHAPTER-6 65

Recommendation

CHAPTER-7 67

Conclusion

Bibliography 73


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CHEPTAR-1


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BRIEF HISTORY OF INSURANCE SECTOR IN

INDIAThe insurance sector in India has come a full circle form being an open competitive market to nationalization

and back to a liberalized market again.

Tracing the development in the Indian insurance sector reveals the 360- degree tum witnessed over a periodof almost 190 years.

The business of life insurance in the India in exiting from started in India in the year 1818 with theestablishment of the oriental life insurance company in Calcutta.

Some of the important milestones in the life insurance business in India in are:

1912- The India life assurance companies Act enacted as the first statute to regulate the life insurancebusiness.

1928- The India insurance companies Act enacted to enable the government to collect statistical informationabout both life and non-life insurance business.

1938- Earlier legislation consolidated and amended to by the insurance Act with the objective of protectingthe interest of the insuring public.

1956- 245 India 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.5crore from the Government of India.

The general insurance business in India, on the other hand, can trace its roots to the Triton InsuranceCompany Ltd, the first general insurance Company established in the year 1850 in Calcutta by the British.

Some of the important milestones in the general insurance business in india are:

1907- The Indian mercantile Insurance Ltd. Set up, the first company to transact all classes of generalinsurance business.

1957- General insurance council, a wing of the Insurance Association of India, frames acode of conduct forensuring fair conduct and sound business practices.

1968- The Insurance Act amended to regulate investments and set minimumsolvency margins and the Tariff Advisory Committee set up.


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1972- The General Insurance Business (Nationalization) Act, 1917 nationalized the generalinsurance business in India with effect from 1stJanuary 1973.

107- Insurers amalgamated and grouped into four companies viz. the NationalInsurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance

CompanyLtd. And the United India Insurance Company Ltd. GIC incorporated as a company.

Indian Insurance Industry:

Learn about Insurancemay be described as a social device to reduce or eliminate risk of lifeand property. Under the plan of insurance a large number of people associate themselves bysharing risk, attached to individual. The risk, which can be insured against include fire, the

peril of sea, death, incident, & burglary. Any risk contingent upon these may be insuredagainst at a premium commensurate with the risk involved.

Insurance is actually a contract between 2 parties where by one party calledinsurer undertakes in exchange for a fixed sum called premium to pay the other partyhappening of a certain event.

Insurance is a contract whereby, in return for the payment of premium by the insured, theinsurers pay the financial losses suffered by the insured as a result of theoccurrence of unforeseen events.

With the he lp of Insurance , la rge number of people exposed to a s imi l a rr i sk makes contributions to a common fund out of which the losses suffered by theunfortunate few, due to accidental events, are made good.

Functions of Insurance

The functions of Insurance can be bifurcated into two parts:

Primary FunctionsSecondary FunctionsOther Functions

The primary functions of insurance include the following:

Provide Protection - The primary function of insurance is to provide protection

against future risk, accidents and uncertainty. Insurance cannot check the happening of therisk, but can certainly provide for the losses of risk. Insurance is actually a protection againsteconomic loss, by sharing the risk with others.

Collective bearing of riskInsurance is a device to share the financial loss of few among manyothers. Insurance is a mean by which few losses are shared among larger number of people.All the insured contribute the premium toward a fund and out of which the persons exposed toa particular risk is paid.


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Assessment of risk - Insurance determines the probable volume of risk by evaluating variousfactors that give risk to risk is the basis for determining the premium rate also.

Provide certaintyInsurance is a device, which helps to change from uncertainty to certainty.

Insurance is device whereby the certain risk may be made from certain.

The secondary function of insurance includes the following

Prevention of losses- Insurance cautions individuals and businessman to adopt suitabledevice to prevent unfortunate consequences of risk by observing safety instructions;installation of automatic sparkler or alarm system, etc. prevention of losses cause lesser

payment to the assured by the insurer and this will encourage for more saving by way ofpremium. Reduce rate of premiums stimulate for more business and better protection to theinsured.

Small capital to cover larger risks- Insurance receives the businessman from securityinvestment, by paying small of premium against larger risks and uncertainty.

Contributes towards the development of larger industries- Insurance provides developmentopportunity to those larger industries having more risks in their setting up. Even the financialinstitutions may be prepared to give credit to sick industrial units which have insured theirassets including plant and machinery.

The other functions of insurance include the following:

Means of saving and investment- Insurance serves as saving and investment, insurance is acompulsory way of saving and it restricts the unnecessary expenses by the insureds for the

purpose of availing income-tax exemption, people invest in insurance.

Sources of earning foreign exchange- Insurance is an international business. The countrycan earn exchange by way of issue of marine insurance policies and various other ways.

Risk free trade- insurance promotes exports insurance, which makes the foreign trade risk

free with the help of different types of policies under marine insurance cover.

The end of the year 2000 makes a significant change and growth of INDIA INSURANCEindustry scenario. Monopoly of public sector insurance company marks an end and privatecompanys makes inroad. Foreign companies, both life and general flocked, collaborated and

helped astronomical growth of INSURANCE INDUSTRY IN INDIA.

INDIA INSURANCE growth was longer overdue. Within 1st 12 months of liberation of

India insurance industry 10 licenses for selling life insurance products and 6 licensesfor selling non-life products were issued to private companies. The public sector giant LICstarted losing its market share at the cost of stupendous growth of private players. Now Indiainsurance industry has more than a dozen private life insurance players and 9 private general


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Non-Life Insurance Market

In December 2000, the GIC subsidiaries were restructured as independentinsurance companies. At the same time, GIC was converted into a national re-insurer. In

July 2002, Parliament passed a bill, delinking the four subsidiaries from GIC.

P r e s e n t l y t h e r e a r e 1 2 g e n e r a l i n s u r a n c e c o m p a n i e s w i t h 4p u b l i c s e c t o r companies and 8 private insurers. Al though the pub lic sectorcompanies s ti ll dominate th e gene ra l insu rance busi ness , the pr i vate pla yersa re s lowly ga in ing a foothold . According to es t imates , p r iva te insurancecompanies have a 10 percent share of the market, up from 4 percent in 2001. Inthe first half of 2002, the private companies booked premiums worth Rs 6.34 billion. Most ofthe new entrants reported losses in the first year of their operation in 2001.

With a large capital outlay and long gestation periods, infrastructure projects are fraughtwith a multitude of risks throughout the development, construction and operation stages.These include risks associated with project implementation, including geological risks,maintenance, commercial and political risks. Without covering these risks thefinancial institutions are not willing to commit funds to the sector, especially because thefinancing of most private projects is on a limited or non- recourse basis.

Insurance companies not only provide risk cover to infrastructure projects,they also contribute long-term funds. In fact, insurance companies are an ideal source oflong-term debt and equity for infrastructure projects. With long term liability, they get a good

asset- liability match by investing their funds in such projects. IRDA regulations requireinsurance companies to invest not less than 15 percent of their funds in infrastructure andsocial sectors. International Insurance companies also invest their funds in such projects.

Insurance costs constitute roughly around 1.2- 2 percent of the total project costs. Underthe existing norms, insurance premium payments are treated as part of the fixedcosts. Consequently they are treated as pass-through costs for tariff calculations.

Premium rates of most general insurance policies come under the purview of thegovernment appoin ted Tar i f f Advisory Commit tee . For Pro jec ts cos t ing

up to R s 1 Billion, the Tariff Advisory Committee sets the premium rates, for Projectsbetween Rs 1 billion and Rs 15 billion, the rates are set in keeping with the committee'sguidelines; and projects above Rs 15 billion are subjected to re-

insurance pricing. It is the last segment that has a number of additional products and

competitive pricing.Insurance, like project finance, is extended by a consortium. Normally one insurer takes thelead, shouldering about 40-50 per cent of the risk and receiving a proportionate percentage ofthe premium. The other companies share the remaining risk and premium. The policies arerenewed usually on an annual basis through the invitation of bids.


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Of late, with IPP projects fizzling out, the insurance companies are turningonce again to old hands such as NTPC, NHPC and BSES for business.

Re-insurance business

Insurance companies retain only a part of the risk (less than 10 per cent) assumedby them, wh ich can be safely borne from thei r own funds . The balance risk is re -insured with other insurers. In effect, therefore, re-insurance is insurer'sinsurance . I t forms the back bone of the insu rance busi ness . I t he lp s to

p rovide a be t te r sp r ea d of r i sk in the international market, allows primary insurersto accept risks beyond their capacity settle accumulated losses arising from catast rophicevents and still maintain their financia l stability.

While GIC's subsidiaries look after general insurance, GIC itself has been the

major reinsurer. Currently, all insurance companies have to give 20 per cent oftheir reinsurance business to GIC. The aim is to ensure that GIC's role as the nationalreinsurer remai ns unhi ndere d. Howev er , GIC re i nsur es the amou nt fur t herwi th in te rna t iona l companies such as Swiss (Swi tze r land) , Manicure(Germany), and Royale (UK).Reinsurance premiums have seen an exorbitantincrease in recent years, fol lowing the rise in threat perceptions globally.

Life Insurance Market

The Life Insurance market in India is an underdeveloped market that was onlytapped by the state owned LIC till the entry of private insurers. The penetration oflife insurance products was 19 percent of the total 400 million of the insurable

populat ion. T h e s t a t e o w n e d L I C s o l d i n s u r a n c e a s a t a x i n s t r u m e n t ,n o t a s a p r o d u c t g i v i n g protection. Most customers were under- insured with noflexibility or transparency in the products. With the entry of the private insurers the rules ofthe game have changed.

The 12 private insurers in the life insurance market have already grabbed nearly 9 percent

of the market in terms of premium income. The new business premiums of the 12 privateplayers have tripled to Rs 1000 crore in 2002- 03 over last year. Meanwhile, state owned

LIC's new premium business has fallen.

Innovative products, smart marketing and aggressive distribution. That's the triplewhammy combination that has enabled fledgling private insurance companies to sign upIndian customers faster than anyone ever expected. Indians, who have always seenl i fe insurance as a tax saving device , a re now suddenly turn ing to the

p r iva te se c to r and snapping up the new innovative products on offer.

The growing popularity of the private insurers shows in other ways. They arecoining money in new niches that they have introduced. The state owned companies still


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dominate segments like endowments and money back policies. But in the annuityor pension products business, the private insurers have already wrested over 33

percent of the marke t . And in the popula r un i t - l i nk ed insu rance schemesthe y ha ve a v i r tual monopoly, with over 90 percent of the customers.

T h e p r i v a t e i n s u r e r s a l s o s e e m t o b e s c o r i n g b i g i n o t h e r w a y s -t h e y a r e persuading people to take out bigger policies. For instance, the averagesize of a life insurance policy before privatization was around Rs 50,000. That hasr isen to about Rs80,000. But the pr ivate insurers are ahead in this gamea nd the average s ize of the i r policies is around Rs 1.1 lakh to Rs 1.2 lakh- way biggerthan the industry average. Buoyed by their quicker than expected success,nearly all private insurers are fast-forwarding the second phase of their expansion

plans. No doubt the aggressive stance of private insurers is already paying rich dividends. Buta rejuvenated LIC is also trying to fight back to woo new customers.


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THE INSURANCE REGULATORY AND DEVELOPMENT

AUTHORITY (IRDA)

Reform in the insurance sector was initiated with the passage of the IRDA Bill in Parliamentin December 1999. The IRDA since its incorporation as a statutory body in April 2000 hasfastidiously stuck to its schedule of farming regulations and registering the private sectorinsurance companies.

The other decisions taken simultaneously to provide the supporting system to the insurancesector and in particular the life insurance companies were the lunch of the IRDAs onlineservice for issue and renewal of licenses to agents.

The approval of institution for imparting training to agents has also ensured that the insurancecompanies would have a trained workforce of insurance agent in place to sell their product.

Since being set up as an independent statutory body the IRDA has put in a framework ofglobally compatible regulations. In the private sector 12 life insurance and 6 generalinsurance companies have been registered.


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INSURANCE COMPANIES

IRDA has so far granted registration to 12 private life insurance companies and 9 generalinsurance companies. If the existing public sector insurance companies are

included, there are currently 13 insurance companies in the life side and 13 companiesoperating in general insurance business. General Insurance Corporation has beenapproved as the Indian reinsurer" for underwriting only reinsurance business.

Particulars of the life insurance companies and general insurance companiesincluding their web address are given below:

LIFE INSURERS Websites

Public Sector

Life Insurance Corporation of India www.licindia.com

Private Sector

Allianz Bajaj Life Insurance Company Limited www.allianzbajaj.co.in

Birla Sun-Life Insurance Company Limited www.birlasunlife.com

HDFC Standard Life Insurance Co. Limited www.hdfcinsurance.com

ICICI Prudential Life Insurance Co. Limited www.iciciprulife.com

ING Vysya Life Insurance Company Limited www.ingvysayalife.com

Max New York Life Insurance Co. Limited www.maxnewyorklife.com

MetLife Insurance Company Limited www.metlife.com

Om Kotak Mahindra Life Insurance Co. Ltd. www.omkotakmahnidra.com

SBI Life Insurance Company Limited www.sbilife.co.in

TATA AIG Life Insurance Company Limited www.tata-aig.com

AMP Sanmar Assurance Company Limited www.ampsanmar.com

Dabur CGU Life Insurance Co. Pvt. Limited www.avivaindia.com
http://www.licindia.com/http://www.licindia.com/http://www.birlasunlife.com/http://www.birlasunlife.com/http://www.hdfcinsurance.com/http://www.hdfcinsurance.com/http://www.iciciprulife.com/http://www.iciciprulife.com/http://www.ingvysayalife.com/http://www.ingvysayalife.com/http://www.maxnewyorklife.com/http://www.maxnewyorklife.com/http://www.metlife.com/http://www.metlife.com/http://www.omkotakmahnidra.com/http://www.omkotakmahnidra.com/http://www.sbilife.co.in/http://www.sbilife.co.in/http://www.tata-aig.com/http://www.tata-aig.com/http://www.ampsanmar.com/http://www.ampsanmar.com/http://www.avivaindia.com/http://www.avivaindia.com/http://www.avivaindia.com/http://www.ampsanmar.com/http://www.tata-aig.com/http://www.sbilife.co.in/http://www.omkotakmahnidra.com/http://www.metlife.com/http://www.maxnewyorklife.com/http://www.ingvysayalife.com/http://www.iciciprulife.com/http://www.hdfcinsurance.com/http://www.birlasunlife.com/http://www.licindia.com/


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GENERAL INSURERS

Public Sector

National Insurance Company Limited www.nationalinsuranceindia.com

New India Assurance Company Limited www.niacl.com

Oriental Insurance Company Limited www.orientalinsurance.nic.in

United India Insurance Company Limited www.uiic.co.in

Private Sector

Bajaj Allianz General Insurance Co. Limited www.bajajallianz.co.in

ICICI Lombard General Insurance Co. Ltd. www.icicilombard.com

IFFCO-Tokio General Insurance Co. Ltd. www.itgi.co.in

Reliance General Insurance Co. Limited www.ril.com

Royal Sundaram Alliance Insurance Co. Ltd. www.royalsun.com

TATA AIG General Insurance Co. Limited www.tataig.com

Cholamandalam General Insurance Co. Ltd. www.cholainsurance.com

Export Credit Guarantee Corporation www.ecgcindia.com
http://www.nationalinsuranceindia.com/http://www.nationalinsuranceindia.com/http://www.niacl.com/http://www.niacl.com/http://www.orientalinsurance.nic.in/http://www.orientalinsurance.nic.in/http://www.uiic.co.in/http://www.uiic.co.in/http://www.bajajallianz.co.in/http://www.bajajallianz.co.in/http://www.icicilombard.com/http://www.icicilombard.com/http://www.itgi.co.in/http://www.itgi.co.in/http://www.ril.com/http://www.ril.com/http://www.royalsun.com/http://www.royalsun.com/http://www.tataig.com/http://www.tataig.com/http://www.cholainsurance.com/http://www.cholainsurance.com/http://www.cholainsurance.com/http://www.tataig.com/http://www.royalsun.com/http://www.ril.com/http://www.itgi.co.in/http://www.icicilombard.com/http://www.bajajallianz.co.in/http://www.uiic.co.in/http://www.orientalinsurance.nic.in/http://www.niacl.com/http://www.nationalinsuranceindia.com/


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ADVANTAGES OF LIFE INSURANCE

Protection against risk of untimely death Life insurance is a product, which offers

protection against the risk of death the full sum assured is made available under a life

assurance policy, whereas under other savings schemes, the total accumulated savings alonewill be available.

Protection during old age Life insurance can also be used as a means of saving for

ones future. There are a number of life insurance policies, which in addition to life coveralso provide the means of investing ones income. The sum as per the policy will be received

only after a period of time. This amount thus provides for the old age.

Forced savings Payment of life insurance premiums is compulsory and becomes a habit.

Savings in other scheme can be easily withdrawn and may be used for less worthy purpose.Termination of a life insurance policy by the policyholder usually results in substantial lossin benefits under the policy to the policyholder. One is thus encouraged to save and keepones policy alive.

Educational requirements and charity The object of insurance may be to serve as a

security to educational funds in respect of loans advanced for educational purpose or toprovide donations to charitable institutions like hospital and school.

Nomination and assignment The life insured can name the person or persons to

whom the policy moneywould be payable in the event of his death .the proceeds of a lifeinsurance policy canbe protected against the claims of the creditors of the life insured byeffecting a valid assignment of the policy. The beneficiaries are fully protected fromcreditors expect to the extent of any interest in the policy retained by theinsured.21Marketability andsuitability for borrowingAfter 3 years, if the policyholder findsthat he is unable to continue paymentof premiums he can surrender a policy for a cash sum.A life insurance policy isaccepted as a security for a commercial loan.

Loans from the insurance company A policy holder can take a loan from his

insurance company against theSecurity of his life insurance policy provided the terms of the

terms of his policy allowsuch a loan. This loan can be taken usually after a period of 3 yearsfromcommencement of the policy and is a percentage of its surrender value .

Investment options The unit link products give comprehensive insurance to an

Individuals dual need of earning potentially high returns as well as stay for life. Thus thereis an option to invest money in the products that combine the

best of Insurance and investment. In a volatile market conditions it is possible to secure bothas One can hedge the investment with saver investment vehicles that provide a diversifiedPortfolio.


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Tax benefits The Indian income tax act provides tax concessions to the policyholder Both

on payment of premium and on the maturity amount. Under sec 88 the tax benefits Onpremium paid by an individual for life insurance policies on his own life\on the life ofSpouse \children minor or major, including married daughters. Under sec 6 of the marriedwomens property act if a married man takes a Policy of life insurance on his own life andexpenses on the face of it to be for the Benefit of his wife or of his wife and children or anyof them, then it shall be deemed to be a trust for the benefit of his wife and children or any ofthem, According to the Interest so expressed and shall not so long as any object of trustremains be subject to the control of the husband or to his creditors or form part of his estate.An insurance Policy taken by a married man in the above manner is ideal way to protect theinterest of his wife and children, even after his untimely death.

Types of insurance products

Term assurance plan- In insurance language this is a pure risk cover and can be Described as an insurance or risk management product in its purest and simplest form. In caseof your untimely death, your dependents will receive the risk-cover amount or the sumassured. On the other hand, there is no survival benefits if you survive the policy term, and

you also do not get back the premiums paid .

Endowment assurance plans- It is a traditional investment-cum-insurance plan. In

other words, it provides both life cover (in the event of death of life insured) or Maturitybenefits if he/she survives the policy term. Endowment plans are typically frontloaded.Therefore it makes sense for you to remain in the policy for at least 12-15 Years.

Money-back policy- It is a variant of the endowment assurance policy-the Difference isthat you get the survival benefits intermittently over the life of the policy. Thus taking care ofhis lump-sum monetary requirements to enable him to meet his financial goals and majorcommitments. The maturity benefit is the sum assured value Less the survival benefitsalready paid under the policy, plus bonuses accrued, if any. In Case of untimely death thenominee will receive the entire sum assured without considering the payouts already made toyou before the unfortunate death.

Whole life plan- This policy provides the life assurance cover for almost the entire Life.

Most of the insurance companies provide protection up to the age of 100 years. The Sum

assured is paid to you once you reach thisage, and the policy is terminated. In this Paymentof premium is for whole life, and the sum assured is paid to your nominee in The event ofyour death. In other words, this is equivalent to a term plan over your Life time.


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Pension plan- A pension plan can be looked as more of an investment product Offered by

insurers to cater to the golden retirement years of an individual. Also Referred to asretirement plans, these are designed to ensure that you are financially Independent duringyour retirement years. Most of the pension plans also provide an Optional life assurancecovers in them.

Child plan- It basically aims at ensuring the achievement of life goals of your child. The

goal can be higher education, financial help in establishing a business or Profession or evenmarriage. In a child plan, the life assured can be the parent or the Child. The beneficiary forthe policy, however, is the child. As a child is a minor, the life Insurance contract is betweenthe parent and the insurance company. In case of early Death of the parent, the premium

payment is waived off by the insurance company and the policy continues as originallyplanned.

Unit Linked Insurance Plan-

ULIPs have been the darling of insurance companies,intermediaries and the insured population alike over the last five years. The main reason forthis popularity is the twin advantage of a pure life cover (insurance component) and a rangeof investment funds or options (savings component) to match your risk profile. While the

pure life cover provides the much needed financial security to your dependents in the event ofyour untimely death, the savings component allows you to participate in the capital marketsand build wealth over the long-term tenure of the policy.


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OBJECTIVE OF THE STUDY

individual Objectiveshelp employees in achieving their personal goals, which in turn,enhances the individual contribution to an organization.

Organizational Objectivesassist the organization with its primary objective by bringingindividual effectiveness.

Functional Objectivesmaintain the departments contribution at a level suitable to the

organizations needs.

Societal Objectivesensure that an organization is ethically and socially responsible to the

needs and challenges of the society.

Other objectives

a) To improve the current job performance of employees.

b) To familiarize employees with the policies and procedures of the organization.

c) To enhance the creativity, adaptability and versatility of the employees and to facilitate

learning at the work place.

d) To prepare employees for future job.

e) To change the skills, knowledge and attitudes of the employees on apermanent basis.

f) To help employees manage their careers.g) To maintain knowledgeable work force.h)

To gain competitive advantage through a knowledgeable work force.i) To promote organizational growth through individual growth.


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RESEARCH METHODOLOGY

The Research and Methodology adopted for the present study has been systematic and was

done in accordance to the objectives set which has been detailed as below.

Research Definition

Research is a process in which the researcher wishers to find out the end result for agiven problem and thus the solution helps in future course of action.

According to Redman & Mory research is defined as a Systemized effort to gain new

knowledge.

Research Design:

According to Claire Seltiz, a research design is the arrangement ofcondition

and analysis of data in manner that aims to combine relevance to the

research purpose with economy in procedure.

NATURE OF RESEARCH

Research is basically of two types:

1. Descriptive research2. Explorative research

Descriptive research- these studies are concerned with describing the characteristics of a

particular individual or a group.

SAMPLE SIZE

Total sample size is 50.

DETERMINING SOURCES OF DATA

There are two sources of data:1. Primary data2. Secondary data

Primary data: It consists of original information collected for specific research. Primary

data for this research study was collected through a direct survey to obtain this primary data awell structured questionnaire was prepared by the researcher.


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Secondary data: It consists of information that already exists somewhere and has been

collected for some specific purpose in the study. The secondary data for this study is collectedfrom various books.

QUESTIONNAIR

Questionnaire: A set of questions containing a few technical questions and more number of

opinionated questions are prepared for employees of both centralized and decentralized

section of HR department.

Questionnaire Development:

Questionnaire is the most common instrument in collecting primary data.

In order to gather primary data from viewers.

The present questionnaire consists of following type of questions.

Open ended questions

Closed ended questions

Dichotomous questions

Multiple choice questions

Ranking question.

Open ended questions: I t ha s no f ixe d a l t e rna t ive s to wh ic h the a nswe r m us t

conform. Thus, respondent answer in his/her own words at any length they choose.

Closed ended questions: Closed ended questions have no other options other than theselecting the one that close matches the respondents opinion or attitude.

Dichotomous questions: A dichotomous question refers to one, which offers therespondents a choice between only two alternatives.

Multiple Questions: A multiple choice question refers to one, which provides several sets of

alternatives for the respondents choice.

Ranking questions: These ques t ions a re g iven when the re a re many poin tstobeconsidered and to be ranked in priority.


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LIMITATIONS

1.

The survey was conducted within the company.

2. And in survey I have to interact with the employees. But the employees willbe busy their works.

3. Getting the good response from the employee will be difficult because oftheir bus y schedule.

4. Time to interact with employees inside the branch is not sufficient.


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CHAPTER-2


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COMPANY PROFILE OF BHARTI AXABharti 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, worldleader in financial protection and wealth management. The joint venture company has a74%stake from Bharti and 26% stake of AXA.

The company was incorporated on 13th July 2007. Headquartered in Bangalore, the companycurrently has 30 branches across India. With a vision to become the leader and preferredcompany for financial protection in India, Bharti AXA General Insurance offers its customers

- individuals and businesses- a wide range of products and services that meet their insuranceneeds. The company launched national operations in December 2006. Today, we have over5200 employees across over 12 states in the country. Our business philosophy is built aroundthe promise of making people "Life Confident. The Company will leverage the BhartiGroups large customer pool and develop a strongmulti channel distribution network in both

urban and rural markets.

With a customer commitment to provide Fast, Fair & Friendly service in all aspects of business,the company offers transparency, structured customer support and trained manpower, backed

by a robust IT platform. The companys claims philosophy is to offerprompt and hassle free

claims service that deals with the claims process with empathy. The Management team atBharti AXA General Insurance consists of experienced leaders who are passionate about theircompanys vision and goals and are committed to the development of Bharti AXA General

Insurance as the preferred company for Financial Protection in India. As we expand ourpresence across the country to cater to your insurance and wealth management needs with ourproduct and service offerings, we continue to bring 'life confidence' to customers spreadacross India. Whatever your plans in life, you can be confident that Bharti AXA Life willoffer the right financial solutions to help you achieve them.

The vision of Bharti AXA Life Insurance Company Limited is to become the

preferred life insurance company in India. This vision extends to our recruitmentphilosophy as well. Both the Bharti Group in India and AXA globally enjoy the

status of being a very employee focused organization. At Bharti AXA Life

Insurance, we are determined to achieve our vision through talent who are

empowered, focused on customer service, and champions of strategic and

operational excellence.


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THE JOINT VENTURE OF BHARTI AND AXA

BHARTI

Bharti Enterprises is one of Indias leading business groups with interests in

telecom, agri bus iness, insurance and retai l. Bhart i has been apioneering force in the te lecom sector with many firsts and innovations to its credit.

Bharti Airtel Limited, a group company, is one of Indias leading private sectorproviders of tel ecommunications services wi th an aggregate of 60 million customers,spanning mobile, fixed line, broadband and enterprise services. Bharti Airtel was rankedamongst the best performing companies in the world in the Business Week IT 100 list 2007.Bharti Teletech is the countrys largest manufacturer and exporter of telephone terminals.Bharti has a joint venture with ELRo Holdings India Ltd.FieldFresh Foods Pvt. Ltd - forglobal distribution of fresh fruits and vegetables. Bharti also has a joint venture - BhartiAXA Life Insurance Company Ltd. - with AXA, world leader in financial protection andwealth management. Bharti has recently forayed into the retail business under a companycalled Bharti Retail Pvt. Ltd. It also has a joint venture- Bharti Wal- Mart Limited-with

Wal- Mart, for wholesale cash-and-carry and back-end supply chain management operation.

AXA Group

AXA Group is a worldwide leader in financial protection. AXASoperations are diverse geographically, with major operation in Western Europe, NorthAmerica and the Asia/Pacific area. AXA had euro 1,315 billion in assets under managementas of December 31, 2006. For full year 2006, IFRS revenues amounted to Eura 79 billion,

IFRS underlying earnings amounted to Euro 4,010 million and IFRS adjusted earnings toEuro 5,140 million.


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AXA Asia Pacific Holdings

AXA Asia Pacific Holdings Ltd (AXA APH) is listed on the Australian stock exchange and is52.3% owned by AXA SA. AXA APH is responsible for AXA SAS life insurance andwealth management businesses in the Asia-Pacific region. It has operation in Australia, NewZealand, 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 tiems of A$74.0 million for the

six months ended 30 june 2007.


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GROUP SITES


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Vision & Values of Bharti AXA Life


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STRATEGY

To achieve a market position among the top 5 in India through a multi-distribution,

multi-product platform

To adapt AXA's best practice blueprints as a sound platform for efficientand 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 recognized as being close and qualified by our customers.

STRATEGY DIFFERENTIATORS

Strong partner Bharti - provides access to customer base of more than 130 million

Multi channel execution capability

Current Asia product range which is a strong match to products sold to themass and mass affluent

Global scale providing cost effective and speedy re-use of systems, productsand business capability

Strong AXA and Bharti brands which can be leveraged to attract and retain a highquality management team.


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HR PRACTICE

The guiding Human Resources principles at Bharti AXA are:

Clearly define scope of responsibilities and empower people to deliver .

Provide people with the means to develop their competencies.

Consider individual training and development a priority investment.

Build organizations that are conducive to teamwork and that involve everyone.

Promote ongoing dialogue between managers and the people who report to them.

Make cultural difference a key source of strength.


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ORGANISATION STRUCTURE:

CHIEF EXECUTIVE OFFICER

DIRECTOR OF

HUMAN

RESOURCE

CFO &

ACTUARIOL

CHIEF

OPERATING

OFFICER

VP

TELCASSUR-

ANCE

CHIEF

MARKETING

CHIEF

DISTRIBUTI

ON OFFICER

APPOINTED

ACTUR

MANAGERSMANAGERS

MANAGERS MANAGERS

MANAGERSSSSSMANAGERSSSS

MANAGERSSSS


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SWOT analysis of Bharti AXA Life insurance

Strength

Bharti AXA gives the special training to the agents

Joint venture between the good financial protection company AXA

Weakness

Less awareness about Bharti AXA life insurance Among people

Less distribution channel

Opportunities

A large amount of Indian people is under Insurance cover

People having Insurance cover are not adequately covered 94% insured people are

under insured.

Threats

A large competition in the market with 23 life insurance companies which they are

giving the life insurance services.


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INSURANCE PRODUCTS OF BHARTI AXA

At Bharti AXA Life, we want to take care of your responsibilities in the same way as you do

for your loved ones, with a range of life insurance services. Through our life

insurance products, you can trust us to take care of your family at all times. You can select the

m o s t s u i t a b l e p l a n f r o m o u r h o s t o f p l a n s a n d m a k e b u y i n g l i f e

insurance simple and convenient. Each of the plans, r ight from traditional

life insurance to unit linked life insurance, fall in specified segments and fulfill

your specific objectives. You can learn more about the segment and specific plans

within the segment by clicking on the type of plan.


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Protect your loved ones against financial contingencies at nominal costs

You love your family and feel responsible towards them in every way. But life

can be uncer ta in and unforeseen cont ingenc ies can mee t you anyt ime . At

such times, life insurance comes to your rescue. As someone who wants only the best for

their family, we understand your need to safeguard your family against any crises.

Our protection plans offer you high life cover at nominal costs so that you can fulfill your

responsibility with ease and your family never has to face financial constraints.

Bharti AXA Life Elite Secure

Bharti AXA Life Secure Confident

Ensure your family's security + maximise your savings

You can make your money work harder with our Wealth Creation with Protection plans.

Whether it is a a comfortable future, bigger home, or even a dream vacation ,

these life insurance plans are the best solutions along with the surety of financial

pro tec tion. Our life insurance coverage plans include 't raditional ' pl ans that give

guaranteed money on maturity. While, we also offer market-linked plans that give


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you the benefi t of good market performance to maximise your savings.

Bharti AXA Life Child Plans

Bharti AXA Life Guaranteed Plans


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Bharti AXA Life Aspire Life:-

Unit Linked Endowment Product.

Aspire Life helps you create a pool of wealth to meet your long-term needs, while also

providing you adequate protection in case the need arises.

Key Benefits:

Allocation rates as high as 100% i.e. no allocation charges for premiums greater than

or equal to Rs.50,000 on your investment in the unit-linked fund from year 2 - to

maximize your investment returns.

Up to 175% of the first year premium paid by you is returned as Guaranteed Special

Addition, at maturity of the policy or on unfortunate event of death of the Life Insured.

3 investment fund options as per your investment preferences.

Flexibility of partial withdrawals after fifth Policy Year, premium holiday option after

seven policy years and facility to switch amongst the investment funds as per your

investment objectives.

Protection benefit which provides high Sum Assured for longer policy terms.

Tax benefits under section 80C and 10(10D) of Income Tax Act.


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Bharti AXA Life Invest Confident:-

Unit Linked Single Premium Product.

You have always strived hard to achieve the best for you and your loved ones, so when it

comes to making an investment decision, we know that you would expect the best from it too.

Key Benefits:

Convenient single premium product with policy benefit period till the age of 70.

Unique special additions starting from the end of 5th policy year and thereafter at the

end of every 5 years till the maturity date.

3 investment fund options as per your investment preferences.

Basic Sum Assured of five times the single premium.

Unique option of investing additional amount at your convenience through Top Up

Premiums.

Flexibility of partial withdrawals after the third Policy Year

Additional benefit of Rs.5, 00,000 in the event of death due to an accident.

Tax benefits under section 80C and 10(10D) of Income Tax Act.


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Bharti AXA Life Wealth Confident:-

A unit-linked investment cum protection policy.

Your wealth, your status ensures that you get preferential status wherever you go. So why

shouldn't your money get the same?

Wealth Confident, a unit-linked investment cum protection product, with its limited period

premium payment facility of 5 years, premium payment flexibility, higher allocation of your

premium for investment, unique special additions and life insurance benefit, not only makes

your money grow but also provides your investment the special treatment that it deserves.

"Be confident ofproviding your investments the right mix of growth, flexibility and loyalty

benefits. Live confident with Wealth Confident."

Key Benefits:

Pay premium for five years, while your policy continues for ten years.

Higher allocation of your premium up to 88% for investment.

Special additions of units added every year from 6th Year for incremental wealth

creation.

Choose from four different investment funds to meet your financial objectives.

Five times the life cover of your annual premium.

Tax benefit under 80C and 10(10D).


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Bharti AXA Life Future Confident:-

A unit-linked policy which offers comprehensive protection along with wealth creation in the

long term.

Key Benefits:

Life insurance benefit of up to 420 times the monthly premium.

Comprehensive overall protection through "Protection Enhancers" in the form of

riders.

Wealth creation for your long term financial needs.

Special additions at regular intervals, starting from 7th year, to enhance your wealth.

Four different investment funds to meet your financial objectives.

Tax benefit under 80C and 10(10D).

Bharti AXA Life Future Confident II:-

A unit-linked product which offers enhanced protection along with wealth creation in the long

term.

Key Benefits:

Build Wealth for your long term financial needs with enhanced financial protection.

Sum assured up to 420 times the monthly premium.

Life insurance benefit as Sum assured PLUS Policy fund value.

Four different investment funds to meet your financial objectives.

Comprehensive overall protection through "Protection Enhancers" in the form of

riders.

Special additions at regular intervals, starting from the end of 7th year, to enhance your

wealth.

Tax benefit under sections 80C and 10(10D) of Income Tax Act.


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Bharti AXA Life Save Confident:-

Traditional money back insurance product for long term savings

Your changing life stages decide your financial milestone planning. When you foresee

intermittent financial requirements in the years to come, like regular expenses related to your

childs education, liquidity becomes a key aspect of your planning along with long term

savings, and protection for your family.

Key Benefits:

Traditional money back product with payment term of 10 years.

Get guaranteed amount back on specified intervals, starting from 6th policy year till

maturity.

Amount equal to 110% of Sum Assured paid across 10 years.

Secured growth on savings with Annual Reversionary Bonus, if declared, every year.

Savings enhanced by Terminal Bonus, if any, payable at maturity.

Total protection for your family with guaranteed sum assured plus accrued bonuses.

Added protection in the event of death due to an accident with payment of additional

amount equal to the basic Sum Assured, subject to maximum of Rs 10 Lakh.

Tax benefit under sections 80C and 10(10D) of Income Tax Act, 1961 .

Bharti AXA Life Secure Confident:-

A Long Term Life Insurance

All of us desire to maximise the happiness for our family at all times, irrespective of the

circumstances. The thought of unfortunate events befalling us may cause us anxiety about

providing a secured happiness to our loved ones.


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Key Benefits:

Term Assurance for 5, 10,15,20,25 years.

Financial protection against unfortunate event of death at an affordable cost.

Comprehensive overall protection with help of riders.

Tax benefit under section 80C and 10(10D) of Income Tax Act.

Group Plans:-

Bharti AXA Life Mortgage Credit Shield:-

Mortgage Credit Shield is a Group Product that provides coverage to people who have availed

of a Mortgage\ Home loan\ Home equity loan from an Institution/Bank.

Bharti AXA Life Credit Shield:-

Credit Shield is a Group Product that provides coverage to people who have availed of a loan

for1 to 5 years from Group Policyholder.


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CHEPTAT-3


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Training and Development:In organizational development, the related field of training

and development (T & D) deal with the design and delivery of learning to improve

performance, skills, or knowledge within organization.

In some organizations the term LEARNING and DEVELOPMENT is used instead of training

and development in order to emphasize the importance of learning for the individual and the

organization. In other organization, the term HUMAN RESOURCE DEVELOPMENT is

used.

Definition of Training:

The systematic development of knowledge, skills and attitudes required by an

individual to perform adequately a given task or job. Training refers to efforts that help

enhance employee skills for carrying out the present job. According to Edwin B Flippo,

training is the act of increasing knowledge and skills of an employee for doing a

particular job.

Need for training:

To improve the current job performance of employees.

To familiarize employees with the policies and procedures of the organization.

To enhance the creativity, adaptability and versatility of the employees and to facilitate

learning at the work place.

To prepare employees for future job.

To change the skills, knowledge and attitudes of the employees on a

permanent basis.

To help employees manage their careers.

To maintain knowledgeable work force.

To gain competitive advantage through a knowledgeable work force.

To promote organizational growth through individual growth.


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Areas of training:

Company policies and procedures

Human relations training

Skill based training

Problem solving training

Onsite Workshops for Leadership Team

Employees need more than bosses. They need mentors: Professionals

skilled at assessing employee development needs and committed to guiding

employees toward professional success.

Team Leadersh ip Workshop provides managers wi th proven

techniques for e f fec t ive pe rsonne l management . By he lp ing leaders

unders t a nd and a ddress the i r employees' requirements, this interactive seminar offers

significant benefit to managers at all levels. New supervisors gain a solid grounding in

the concept of ' 'leadership,'' while more experienced managers refresh their

commitment to teaching and coaching their team members.

This training program provides healthy perspectives for managers at all

levels, making it an ideal morale-boosting leadership development experience for mixed

groups of front-line supervisors and senior staff members .


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Leadership Training for Success

All managers need methods. Leaders need to know the most effective techniques for

guid ing teams, mentor ing indiv idua ls , and va l ida t ing the resu l t s . Wi thout

solid methods, managers will revert use a one-size-fits-all approach to leadership that

reflects the leader's personality, rather than the employees' needs.

Committed, mentoring leadership is essential to employee morale,

produc tiv it y, and retention.

A Results-Oriented Training Program

Team Leadersh ip Workshop provides proven methods and procedures

fo r successful people management. Participants receive a step-by-step plan for guiding each

employee toward success. This workshop includes elements of Frank Whyte's

nationally respected Teambuilding Workshops expanding upon that foundation to help

leaders:

Recognize each employee's personality preferences and supervisory needs,

Align their leadership style with those bosses, colleagues, and subordinate,

Develop competent and committed employees by mentoring and guiding

their employees toward success,

Schedule their management responsibilities to ensure that nothing is left to chance, and

Use practiced real-world scenarios to resolve challenges and remove barriers.


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10. Knowledge Management

11. Organizational Learning

12. Organizational knowledge

13. Mentoring

14. Teaching Method

15. Blended learning

16. Outbound Management Development Programmers

17. Performance management

The various forms of Training and development are explained below:

Coaching i s a method of d i rec t ing , ins t ruc t ing and t ra in ing a pe rson or

g roup of people, with the aim to achieve some goal or develop specific skills. There are

many ways to coach, types of coaching and methods to coaching. Direction may

include motivational speaking. Training may include seminars, workshops, and

supervised practice.

Continuing Professional Development (CPD) or Continuing Professional

Education (CPE) is the means by which members of professional associations main tain,

improve and broaden their knowledge and skills and develop the personal

qualities required in their professional lives. CPD is defined as the holistic

commitment to structured skills enhancement and personal or professional

competence.

Electronic learning (or e- Learning or eLearning) is a type of education where the

medium of instruction is computer is computer technology. No in person interaction may

take place in some instance. E-learning is used interchangeably in a wide variety of

contexts. In companies, it refers to the strategies that use the company network to delivery

training courses to employees. In the USA, it is defined as a planned teaching/learning

experience that uses a wide spectrum of technologies, mainly internet or computer- based,

to reach learners at a distance. Lately in most universities, e-learning is used to define a


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specific mode to attend a course or programmes of study where the student rarely, if ever

attend face- to-face for on- campus access to educational facilities, because they study

online.

Executive Educationis the term used for programs at graduate-level business school that

aim to give classes for Chief Executives and other top managers or entrepreneurs. These

programs do not usually end in a degree, although there is an ever-growing number of an

EXECUTIVE MBA PROGRAM that are very similar and offer a Masters of Business

Administration upon completion of the coursework.

Executive development is the whole of activities aimed at developing the skills and

competencies of those that (will) have executive positions in organizations.

While executive" and "manager" and "leader" are often used interchangeably,

"executive is commonly used to s igni fy the top 5% to 10% of the

organiza t ion . S imi la r ly , development" and "training" and "education" are often

used as synonyms, however "development" is generally seen as the more

encompass ing of the three in terms of activities that build skills and competencies.

Leadership development Leadership development refers to any activity that enhances

the quality of leadership within an individual or organization. These activities have ranged

from MBA style program offered at university business schools to high-ropes course and

executive retreats.

Instructional Animation Are animation that are used either to provide instructions for

immediate performance of a task or to support more permanent learning of subject matter.

While both of these uses can be described as instructional animations, when the goal is to

support learning, the term educational animation may be preferred.

Instructional Design is the practice of arranging media (communication technology) and

content to help learners and teachers transfer knowledge most effectively.

The process consists broadly of determining the current state of learner


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understanding, defining the end goal of instruction, and creating some media-based

"intervention" to assist in the transition. Ideally the process is informed

b y pedagogica l ly t e s t ed theori es of learn ing and may take place in student -

only, teacher-led or community- bas ed set t i ngs . The ou t come of thi s

instruction may be directly observable and scientifically measured or

completely hidden and assumed.

Knowledge Management (KM) comprise a range of practices used by

organization to identify, create, represent, distribute and enable adoption of

what it knows, and how it knows it. It has been an established discipline since

1995 with a body of university courses and both professional and academic journals

dedicated to it. Many large companies have resources dedicated to Knowledge

Management, often as a part of 'Information Technology', 'Human Resource

Management' or Business strategy department knowledge management is a

multi- billion dollar world-wide market.

Organizational learning is an area of knowledge within organizational theory that

studies models and theories about the way an organization learns and adapts. In

organizational development (OD), LEARNING is a characteristic of an adaptive

organizational, I.e., an organization that is able to sense changes in signals from its

environment (both internal and external) and adapt accordingly. OD specialists endeavor to

assist their client to learn from experience and incorporate the learning as feedback into the

planning process.

Organizational knowledge what is the nature of knowledge created, traded and used in

organizational? Some of this knowledge can be termed technical-knowing the meaning of

technical words and phrases, being able to read and make sense of economic data and

being able to act on the basis of low-like generalizations. Scientific knowledge is

propositional; it takes the form of causal generalization- whenever A, then B. For

Example whenever water reaches the temperature of 100 degree, it boils; whenever it boils;


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is bu il di ng on th at process, adding the relevant communication and action on

the progress achieved against these predetermined goals.

In network performance management:

(a) A set of functions that evaluate and report the behavior of telecommunications

equipment and the effectiveness of the network or network element and

( b ) A se t o f va r ious sub- func t ions , suc h a s ga the r ing s t a t i s t i c a l

information, maintaining and examining historical logs, determining system

performance under natural and artificial conditions, and altering system modes of

operation.

In organizational development(OD),performancecan be thought of as Actual Resultsvs. Desired Results. Any discrepancy, where Actual is less than Desired, could constitute

the performance improvement zone. Performance management and improvement can

be thought of as a cycle:

Performance planning : where goals and objectives are established

Performance coaching : where a manager intervenes to give feedback and

adjust performance

Performance appraisal: where individual performance is formally

documented and feedback delivered

A performance problem i s any gap be tween Des i red Resul t s and Actua l

R e su l t s . Performance improvement is any effort targeted at closing the gap

be tween Actua l Results and Desired Results.


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1)

What is your opinion on training?

OPINION %AGE

Very good 46%

Good 28%

Bad 10%

Time waste process 16%

Total 100%

From graph it can be seen that 46% respondents are in favour of very good training.

46%

28%

10%

16%

opinion of employees

very good

good

bad

time waste process


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2) Do u feel that training will helpful for individual group?

OPINION %AGE

Yes 80%

No 20%

Total 100%

From graph it can be seen that majority of the respondents are 80%. Only 20% feel that training

that training will not helpful for individual growth.

80%

20%


yes

no


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3) Did u satisfy with training what company conducted here?

SATISFACTION LEVEL %AGE

Satisfied 42%

Partially satisfied 23%

Fully satisfied 5%

Partially dissatisfied 28%

Fully dissatisfied 2%

Total 100%

From graph it can be seen that the majority of the respondents are satisfied with the training

program. Only 2% were fully dissatisfied with the training program.

2%

28%

42%

28%

5%

satisfaction level

fully dissatisfied

pratially dissatisfied

satisfied

pratially satisfied

fully satisfied


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4) Is there any improvement in performance after getting the training?

OPINION %AGE

Yes 60%No 40%

Totel 100%

From graph it can be seen that majority of the respondents are satisfied with the appraisal

system only a meager 30% were dissatisfied with the performance appraisal program.

60%

40%


yes

no


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FINDINGS Trained & Developed employees can work more efficiently.

Training & Development makes employees more loyal to an organization.

Training & Development makes an employee more useful to a firm.

Training enables employees to secure promotions easily. They can realize

their career goals comfortably and development helps in increase their morale.

Employees can avoid mistakes on the job. They can handle jobs with confidence. They

will be more satisfied on their jobs.

Training & Development can contribute to higher production and fewer mistakes,g r e a t e r j o b s a t i s f a c t i o n a n d l o w e r e m p l o y e e t u r n o v e r . A l s o ,

i t c a n e n a b l e employees to cope up with organizational, social and technological

change.


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CHAPTER-6

RECOMENDATIONS


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RECOMENDATIONS

Create awareness: The Company has to take care of awareness creation about the

products and services among the advisors/agent.

Charges: The Company has to reduce the mortality and administration charges.

The company has to give periodic training.

Product promotion strategies should be improved.

Company should consider the present competition and should act according to

customer needs.

It should be like long term training like fundamental carrier class, Basic carrier class

which helps the advisors in the different stages.


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CONCLUSION

In this knowledge based economy, training helps people to learn how to do things

differently or the different things and development is that which helps in improving the

performance of the employees by giving them opportunities for growth. Products are now

increasingly knowledge intensive; for this employer are responsible for providing

opportunities for continued learning. To cope with the challenges and competitiveness in the

world, every organization needs the services of trained persons for performing the activities in

the systemic way. So, training program plays a key role in individuals as well as organization

performance.


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LEARNING


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Learnings in the on the job training:-

1. Important of the training program.

2. How the training program will help for the individual as well as organizational

growth.

3. The way to improve communication skill.

4. The way to behave people in corporate world.


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QUESSTIONNAIRE


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1.

Name:

2. Designation:

3. What is your opinion on training?

(a)Good (b) Very Good (c) Bad (d) Time Waste Process

4. Do u feel that training will helpful for individual group?

(a) Yes (b) No

5. Did you satisfy with training what company conducts here?

(a) Yes (b) No

6. Is there any improvement in performance after getting the training?

(a) Yes (b) No

7. Who need much knowledge regarding company and product?

(a) Agent (b) Tele caller (c) Operation Executives (d) All

8. In which areas employee need training?

(a) Company policies and procedures

(b) Skill based training

(c) Problem solving skills

(d) All of the above


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BIBILIOGRAPHY


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1 ) Lynton , R .P . and Pareek , U. Tra in ing for deve lo pment , 2 nd

Ed., New Delhi: Vistaar publication, 2002.

2) Bhavnagar, O.P.Evaluation methodology for training, New Delhi: Oxford

And IBH publishing co.pvt. Ltd.

3) Rae , L . The a r t of t ra in ing and deve lopment , e f fec t ive p lanni ng .

Vol .1 ,New Delh i .

4) Tannenbaum, S.A strategic view of organizational training and learning.

5) A hand book of human resource management practice, 8 th.ed., 2001.

6) Personne l management , Mc .Graw Hi l l ,6th

ed.,1981.

7) Kothar i ,C .R . Research Methodology, 3rd

edition, 1997, Vikas Publishing

House Pvt. Ltd, New Delhi.

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