"SURVEY FOR FINDING OUT SEGMENT OF PEOPLE AND DIFFERENT

METHOD OF FINDING OUT PROSPECT FOR BUSINESS

ASSOCIATE’S (BA’s) RECRUITMENT”

TATA AIG Life Insurance Co. Ltd.

DIBRUGARH (ASSAM)

Presented by
Ashish Agrawal
Enrollment No. 08fc068
Batch-2008-2010
Under The Guidance Of
External Guide Internal
Guide
Amitabh Das
Soumendra Roy
Manager Incharge Assistant
Professor (Finance)
TATA AIG LIC (Dibrugarh) IMIS
(Bhubaneswar)

As a Partial Fulfillment of PGDFC Programme of IMIS,

Bhubaneswar
 Institute of Management & Information Science, Bhubaneswar

DECLARATION

I hereby declare that this project work entitled "survey for

finding out segment of people and different method of finding
out prospect for Business Associate’s (BA’S) recruitment”,
conducted at TATA AIG Life Insurance Co. Ltd is record of
independent research work carried out by myself during the
academic year 2008-2010 under the guidance of my faculty
guide Prof. Soumendra Roy, IMIS Business School,
Bhubaneswar  & my company guide  Mr. AMITABH DAS
(MANAGER INCHARGE).
I also declare that this project is a result of my effort and my
indebtedness to other work publications, if any have been
duly acknowledged.

Place: Dibrugarh (ASSAM) (ASHISH

AGRAWAL)
Date:
 Certificate from the organization/external guide
TO WHOM IT MAY CONCERN
This is to certify that the project entitled "survey for finding
out segment of people and different method of finding out
prospect for Business Associate’s (BA’s) recruitment” is a
bona fide work of Mr. Ashish Agrawal, a student of Institute
Of Management And Information Science, bearing Roll
No. 08fc68 and was successfully conducted at Tata AIG Life
Insurance Company Ltd., Dibrugarh (Assam) from 11th May
2009 to 8th July 2009 for the partial fulfillment of the course
Post Graduate Programme in Finance & Control of IMIS,
Bhubaneswar.
Mr. Ashish Agrawal was briefed about the work of recruiting
financial advisors. He has proved his skills and achieved the
targets that were assigned to him as his project profile and
we appreciate his talent.
His attachment with TALIC as an Advisor during financial year
2006-07 with very good track record helped him finishing his
project with great detail.
We put on record and appreciate the excellent conceptual
abilities and communication skills of Mr. Ashish Agrawal and
wish him all the very best for a bright and promising career.
Date: Name :
Amitabh Das
Place: Dibrugarh (Assam) Designation :
Manager Incharge
Organization:
TALIC
Branch Office:
Dibrugarh (DH01)

ACKNOWLEDGEMENT

Appreciating the people who helped me to make this project

involves introspecting and also looking back the past few
weeks with memories that will hardly fade. When one enjoys
work it does not seems like an assignment at all, it happened
with most of us.
I take privilege to express my sincere gratitude to the
CLUSTER HEAD of TATA AIG Life Insurance Co. Ltd., Mr.
NEERAJ GOGOI for providing me an opportunity to take up
this project in his prestigious organization. I would also like to
thank him for providing his support and guidance during the
course of the project.
I take this opportunity to specially thank Mr. AMITABH DAS,
MANAGER INCHARGE for his constant support and guidance
and also for his effort in providing me with the documents
related to the project and other details regarding the project,
which helped me in understanding the function in better way.
Special thank and gratitude to my faculty guide Prof.
Soumendra Roy, IMIS Business School, Bhubaneswar,
for his genuine support, valuable advice sincere comments.
My sincere regards to our respected Chief Coordinator
(Training & Placement) Capt. K.S.V.Subramanian for
giving me the privilege to be associated with such an
organization and carry forward the name of our college. And
finally I would like to put a special note thanks to all my
faculties of IMIS.
 TABLE OF CONTENTS
PARTICULARS Page No.
CERTIFICATE FROM THE ORGANIZATION
I
CERTIFICATE FROM THEINTERNAL GUIDE
II
DECLERATION
III
ACKNOWLEDGEMENT
IV
LIST OF TABLES & GRAPHS
V-VI
EXECUTIVE SUMMARY
VII

CHAPTER-1

INTRODUCTION 1-3

1.1 Objective Of The Project

1
1.2 Scope Of This Project
1
1.3 Limitations
2
1.4 Research Methodology
2-3
CHAPTER- 2

OVERVIEW OF INSURANCE
4-18

2.1 What Is Insurance?

4
2.2 Basic Concept
4-5
2.3 Fundamental Principles Of Insurance
5-6
2.4 History Of Insurance
7-10
2.5 List Of Life Insurer
10-11
2.6 Types Of Insurance
12
2.7 What Are The Benefits One Get From Insurance
13
2.8 Distribution Channels In Insurance
13-18
- Introduction
13-14
- Need For Insurance Agent
15
- Alternate Distribution Channels
16
- Code Of Conduct For Insurance Agent
17-18

CHAPTER -3
COMPANY PROFILE
19-28

3.1 About The Company

19-20
3.2 Tata AIG Provides insurance covers to:
21-23
3.3 Organizational Structure Of The Company
24-25
3.4 Organizational Structure of Tata AIG Life (Dibrugarh branch)
26
3.5 Financial Highlight Of The Company
27-28

CHAPTER -4

RECRUITMENT & CAREER OPPORTUNITIES FOR AN ADVISORS

WITH TATA AIG LIFE
29-39
4.1 Introduction
29
4.2 Overview Of The Tata AIG Life Recruitment Process
29
4.3 Opportunities For Tata AIG Advisors
30
4.4 Benefits Available For Advisors
31
4.5 Models Of Tata AIG Life For Advisors
31-39
- BA Model (Sampatti Yatra)
32-38
- BSP Model (Dhan Varsa)
38-39

CHAPTER - 5

THUMB RULE FOR RECRUITMENT

40-49

5.1 Recruitment
40
5.2 Why Recruitment?
40-43
5.3 Whom To Recruit?
44-45
5.4 Where To Recruit?
46-47
5.5 How To Recruit?
48-49

CHAPTER - 6

ANALYSIS PART
50-67

6.1 How To Find Out Prospect For Recruitment (Methods)?

50-54

- Natural Market
50
- Referral Market
50-51
- Cold Market
51- 54

6.2 To Find Out Potential Segments For Recruitment:

55-67
- Bases Of Segmentation
55
- Demographic Basis:
Occupation wise
56-61
Age group wise
62-64
– Geographic basis: 65-67

Chapter – 7

CONCLUSION PART
68-74

7.1 Conclusion/Findings
 68-72
7.2 Suggestions & Recommendations:
73-74

APPENDICES

Questionnaires
75-76

References
77
Glossary
78

LIST OF TABLES & GRAPHS

PARTICULARS
Page No.
1> [Table 6i], Overall Findings 52

2> [Fig. – 6c], pie chart, happy with current job/

Financial situation 52

3> [Fig. – 6d], pie chart, need for supplementary

source of Income 53

4> [Fig. – 6e], pie chart, preference for supplementary

source of income 54

5> [Table 6ii (a)], happy with current job/

Financial situation- basis-occupation 56

6> [Fig. – 6f], graph, happy with current job/

Financial situation- basis-occupation 57

7> [Table 6ii (b)], need for supplementary

source of Income- basis-occupation 58

8> [Fig. – 6g], graph, need for supplementary

source of Income- basis-occupation 59

9> [Table 6ii (c)], preference for supplementary

source of income - basis-occupation 60

10>[Fig. – 6h], graph, preference for supplementary

source of income - basis-occupation 61

11>[Table 6iii (a)], happy with current job/

Financial situation- basis- age group 62
 12>[Fig. – 6i], graph, happy with current job/
Financial situation- basis-age group 62

13>[Table 6iii (b)], need for supplementary

source of Income- basis- age group 63

14>[Fig. – 6j], graph, need for supplementary

source of Income- basis-age group 63

15> [Table 6iii (c)], preference for supplementary

source of income – basis- age group 64

16>[Fig. – 6k], graph, preference for supplementary

source of income- basis-age group 64

17> [Table 6 iv (a)], happy with current job/

Financial situation- geographic basis 65

18>[Fig. – 6l], graph, happy with current job/

Financial situation- geographic basis 66

19>[Table 6iv (b)], need for supplementary

source of Income- geographic basis 65

20>[Fig. – 6m], graph, need for supplementary

source of Income- geographic basis 66

21> [Table 6iv (c)], preference for supplementary

source of income – geographic basis 65

22>[Fig. – 6n], graph, preference for supplementary

source of income- geographic basis
66
 EXECUTIVE SUMMARY

In today’s competitive market, for life insurance sector,

recruiting good agents has often been considered the number
one job & problem in agency management. It is certainly a
task that new companies in the Indian life insurance market
have put much stress on. The reason is that life insurance
remains a product, not many are easily disposed to buy and
not many want to sell either. The survival of agency manager
depends on his convincing enough qualified and competent
people to choose life insurance selling as a permanent career.
Recruitment involves selecting the right candidate for the
agent’s job and selling the agency idea to him.
Recruitment continuously is very much important for life
insurance companies; because FYP (First Year Premium) is
directly depend on the number of Agents/Advisors, Activity
Ratio, Case Rate & Case Size. Apart from recruiting more &
more advisors it is necessary to recruit quality advisors to
maintain activity ratio, case rate and case size.
Further, it is very important to know the target segment for
recruitment, in this project work, I have segmented the whole
market mainly on the basis of demographic (occupation, &
age), and geographic (urban & sub-urban areas)
segmentation, to identify the potential segment for
recruitment.
 CHAPTER-1
INTRODUCTION
1.1 Objective of the project
➢ To identify the segment of people for Business
Associate’s (BA’S) recruitment.
➢ Find out the different ways to find the prospects for BA
recruitment.
➢ To find the reason behind individual decisions in joining
life insurance company as an agent or advisor.
➢ To collect the data, this would help in formulating
strategies for recruitment of TATA AIG Life Insurance Co.
Ltd.
➢ To find probable individual for recruitment for the
organization.
➢ To know difficulties in recruitment.
➢ To know the process of good recruitment.
1.2 Scope of This Project
As the project is fully based on survey and it can be used
for decision making. By knowing the opinion or
conversion ratio of the individual management can take
decision accordingly, management can identify the
segment of people for recruitment on the basis of age,
 profession etc. i.e. the people to whom company should
target for recruitment.

1.3 Limitations
➢ Most of the people do not want waste their time to fill up
the questionnaires due to their busy schedule.
➢ Some of the respondents hesitate to disclose their
details.
➢ Most of the person thinks that market survey is wasting
of time, so they are not answering the question seriously.
➢ Time constraint: since recruitment is a long process.
➢ The study has been limited to geographical boundaries
of Dibrugarh Dist. (Assam) only.
1.4 Research Methodology
The research is based on the systematic research design to
meet the above mentioned objective. For the fulfillment of the
objective of the study effectively methods of data collection
are quite necessary.
Sampling:
The sampling is selected according to the respondent’s
convenience, as I had to visit them as per their availability.
Sampling method: Stratified Random Sampling
Sample Unit: Teachers, Govt. Employee, Pvt.
Employee,
Students, businessmen,
Advocates,
Medical Representatives, etc.
Sample Size: 150
Geographical Location: Dibrugarh District (Assam)

Source of data collection: Primary & Secondary

Primary Data Collection:
The primary source of data collection was through survey
through market survey tool/questionnaires where each
respondent were provided with a market survey form and
ask to give their views.

Secondary Data Collection:

The secondary source of data collection Internet,
Magazine On Insurance, & Books On Insurance.

Survey technique used:

The survey method used was “Structured Direct
interview technique”& also through telephonic
interview technique. Where respondents knew why the
survey was being done. The questionnaire was setup
multiple choice questions, simpler questions using YES or
NO or MAY BE options & also by OPEN/CLOSE handed
questions by which we can know about the NEED &
PREFERANCE for supplementary income of an individual,
from which we can find out the segment of people to
whom company should target for recruitment.
 CHAPTER-2
OVERVIEW OF INSURANCE
2.1 What Is Insurance?
➢ Insurance is a contract between two parties whereby
one party agrees to undertake the risk of another in
exchange for a consideration known as premium.
➢ Insurance is an economic device whereby the
individual can substitute a small relatively definite
cost (premium) for a large financial loss (the
contingency insured against) that would have to be
borne if insurance was not available.
➢ The party which undertakes the risk is called insurer
and the other one, whose risk is transferred is known
as the insured.
➢ The insurer promises to pay a fixed sum of money to
the insured on the happening of an uncertain event
(death) or after the expiry of a certain period in case
of life insurance.
➢ The insurer agrees to indemnify the insured on the
happening of an uncertain event in case of non-life
(general) insurance.
2.2 Basic Concepts
➢ The concept behind insurance is that a group of
people exposed to similar risk come together and
make contributions towards formation of a pool of
funds.
➢ In case a person actually suffers a loss on account of
such risk, he is compensated out of the same pool.
 ➢ Insurance has two fundamental characteristics:
Risk is transferred or shifted from one individual
to a group.
Losses are shared, on some equitable basis, by
all members of the group.

2.3 Fundamental Principles of Insurance

➢ Insurable Interest:
Insurable Interest is defined as the legal right to
insure arising out of a financial relationship
recognized under law, between the insured and
the subject matter of insurance.
The Principle of Insurable Interest states that
the insured must be in position to lose
financially if a loss occurs.

➢ Utmost Good Faith:

A positive duty voluntarily to disclose,
accurately and fully, all facts material to the
risk being proposed, whether requested or not.
Higher degree of honesty is imposed on both
parties to an insurance contract than any other
contract, because- Insurance product is
intangible one.
➢ Principle of Indemnity:
It states that the insurer agrees to pay no more
than the actual amount of loss.
In other words, the insured should not make
profit from a loss.
The principle applies to non-life (property and
liability) insurance contracts only.

➢ Principle of Subrogation:
It is the right of one person, having indemnified
another under a legal obligation to do so, to
stand in the place of that other and avail
himself of all the rights and remedies of that
other.
In other words, it is the substitution of the
insurer in place of the insured for the purpose of
claiming indemnity from a third person for a
loss covered by insurance.
It avoids a situation where an insured might
profit from an insured event.
2.4 History of Indian Insurance Industry:
The history of insurance in India dates back to the year 1818,
when the Oriental Life Insurance Company was formed in
Kolkata. The Life
Insurance Act of 1912 marked the beginning of a new era in
the insurance sector of India.

The Indian Insurance Companies Act was passed in the year

1928. This act empowered the government of India to gather
necessary information about the life insurance and non-life
insurance organizations operating in Indian financial markets.

The Triton Insurance Company Ltd. formed in 1850 and was

the first of its kind in the general insurance sector in India.
The Indian Mercantile Insurance Limited was established in
1907, and was the company in India to handle all classes of
insurance.

The insurance sector in India has come a full circle from being
an open competitive market to nationalization and back to a
liberalized market again.

Tracing the developments in the Indian insurance sector

reveals the 360-degree turn witnessed over a period of
almost 190 years.
 ➢ Some of the important milestones in the life insurance
business in India are:
1912 - The Indian Life Assurance Companies Act enacted as
the first statute to regulate the life insurance business.

1928 - The Indian Insurance Companies Act enacted to enable

the Government to collect statistical information about both
life and non life insurance businesses.

1938 - Earlier legislation consolidated and amended to by the

Insurance Act with the objective of protecting the interests of
the insuring public.

1956 - 245 Indian and foreign insurers and provident societies

taken over by the central government and nationalized. LIC
formed by an Act of Parliament, viz. LIC Act, 1956, with a
capital contribution of Rs. 5 crore from the Government of
India.

➢ Some of the important milestones in the general insurance

business in India are:
1907 - The Indian Mercantile Insurance Ltd. set up, the first
company to transact all classes of general insurance
business.
1957 - General Insurance Council, a wing of the Insurance
Association of India, frames a code of conduct for ensuring
fair conduct and sound business practices.

1968 - The Insurance Act amended to regulate investments

and set minimum solvency margins and the Tariff Advisory
Committee set up.

1972 - The General Insurance Business (Nationalization) Act,

1972 nationalized the general insurance business in India
with effect from 1st January 1973.

➢ The Malhotra Committee, 1993

Reform in the Indian insurance sector was initiated with the

formation of the Malhotra Committee in 1993. It was named
after R.N. Malhotra, the then Finance Secretary and RBI
Governor, who headed the committee.

The aim of the Malhotra Committee was to assess the

functionality of the Indian insurance sector. This committee
was also in charge of recommending the future path of
insurance in India.

The Malhotra Committee attempted to improve various

aspects of the financial sector, making them more
appropriate and effective for the Indian market.

The recommendations of the committee put stress on offering

operational autonomy to the insurance service providers and
also suggested forming an independent regulatory body.

“Malhotra Committee” was constituted by the government in

1993 to examine the various aspects of the industry. The key
element of the reform process was Participation of overseas
insurance companies with 26% capital. Creating a more
efficient and competitive financial system suitable for the
requirements of the economy was the main idea behind this
reform.

Due to concerns of
➢ Relatively low spread of insurance in the country.
➢ The efficient and quality functioning of the Public Sector
insurance companies.
➢ The untapped potential for mobilizing long-term
contractual savings funds for infrastructure the
(Congress) government set up an Insurance Reforms
committee in April 1993.

In 1993 the Government of Republic of India appointed RN

Malhotra Committee to lay down a road map for privatization
of the life insurance sector. While the committee submitted its
report in 1994, it took another six years before the enabling
legislation was passed in the year 2000, legislation amending
the Insurance Act of 1938 and legislating the Insurance
Regulatory and Development Authority Act of 2000.The same
year that the newly appointed insurance regulator - Insurance
Regulatory and Development Authority IRDA – started issuing
licenses to private life insurers.

2.5 LIST OF LIFE INSURERS:

Apart from Life Insurance Corporation, the public sector life
insurer, there are 20 other private sector life insurers, most of
them joint ventures between Indian groups and global
insurance giants.
SL Insurers Foreign Partners R Date of Year of
. egn Registra Operati
NO . tion on
. No.
1 HDFC Standard Life Standard Life Assurance, 101 23.10.200 2000-01
Insurance Co. Ltd. UK 0
2 Max New York Life New York Life, USA 104 15.11.200 2000-01
Insurance Co. Ltd. 0
3 ICICI-Prudential Life Prudential , UK 105 24.11.200 2000-01
Insurance Co. Ltd. 0

4 Om Kotak Life Old Mutual, South Africa 107 10.01.200 2001-02

Insurance Co. Ltd. 1

5 Birla Sun Life Sun Life, Canada 109 31.01.200 2000-01

Insurance Co. Ltd. 1
6 Tata-AIG Life American International 110 12.02.200 2000-01
Insurance Co. Ltd. Assurance Co., USA 1

7 SBI Life BNP Paribas 111 29.03.200 2001-02

Insurance Co. Ltd. Assurance SA, France 1

8 ING Vysya Life ING Insurance 114 02.08.200 2001-02

Insurance Co. Ltd. International 1
B.V., Netherlands
9 Bajaj Allianz Life Allianz, Germany 116 03.08.200 2001-02
Insurance Co. Ltd. 1

10 Metlife India Metlife International 117 06.08.200 2001-02

Insurance Co. Ltd. Holdings Ltd., USA 1

11 AVIVA Aviva International 122 14.05.200 2002-03

Holdings Ltd., UK 2
12 Sahara Life 127 06.02.200 2004-05
Insurance Co. Ltd …………………………… 4

13 Shriram Life Sanlam, South Africa 128 17.11.200 2005-06

Insurance Co. Ltd. 5
14 Bharti AXA Life AXA Holdings, France 130 14.07.200 2006-07
Insurance Co. Ltd. 6

15 Reliance Life 121 03.01.200 2001-02

Insurance Co. Ltd. …………………………… 2
(Earlier AMP Sanmar
Life Insurance Co.
from 3.1.02 to
29.9.05)

16 Future Generali Pantaloon Retail Ltd.; 133 04.09.200 2007-08

India Life Insurance Sain Marketing Network 7
Co. Ltd. Pvt. Ltd. (SMNPL),
Generali, Italy
17 IDBI Fortis Life Fortis, Netherlands 135 19.12.200 2007-08
Insurance Co. Ltd. 7

18 Canara HSBC OBC HSBC, UK 136 08.05.200 2008-09

Life Insurance Co. 8
Ltd.

19 Aegon Religare Life Religare, Netherlands 138 27.06.200 2008-09

Insurance Co. Ltd. 8

20 DLF Pramerica Life Prudential of America, 140 27.06.200 2008-09

Insurance Co. Ltd. USA 8

21 Life Insurance 512

Corporation of India

2.6 Types of insurance:

Generally, insurance is divided into two categories and is
named as;
General Insurance
Life Insurance
 FRAME WORK ANALYSIS OF
INSURANCE

GENERAL INSURANCE LIFE INSURANCE

INDIVIDUA MICRO GROUP

L INSURANC INSURANCE
HEALTH ULIPs INSURANC WHOLE
ANNUITY E ENDOWME TERM
INSURANC PLANS LIFE NT INSURAN
E INSURAN PLANS CE

2.7 What are the benefits one get from

insurance:
➢ Safeguards oneself and one's family for future
requirements.
➢ Life cover.
➢ Peace of mind in case of financial loss.
➢ Encourage saving.
➢ Tax rebate.
➢ Protection from the claim made by the creditors.
➢ Security against a personal loan, housing loan or other
types of loan.
➢ Provide a protection cover to industries, agriculture,
women and child.
2.8 Distribution Channels in Insurance
➢ Introduction
An insurance cover is an intangible product evidenced by a
written contract known as the ‘policy’. Insurers market
various insurance covers either directly or through various
distribution channels—individual agents, corporate agents
(including Bancassurance) and Brokers. The marketer in the
distribution network is in direct interface with the prospect
and the customer.
Life insurance products are sold through individual agents and
many of them have this as their only career occupation.
General insurance products are sold through individual
agents, corporate agents and brokers.
Distribution channels such as agents are licensed by the
IRDA. To get an agency license, one has to have certain
minimum qualifications; practical training in insurance
subjects and pass an examination conducted by the
Insurance Institute of India.
IRDA regulations on licensing of agents/brokers lay down the
code of conduct for individual agents, corporate agents and
brokers.
Thus it is seen that the dos and don’ts for these
intermediaries are given clearly at the point of sale as well as
in the event of a claim. Service does not end with the
customer receiving his document; it in fact only begins here.
After sales service is as important or even more important –
like when a refund has to be made or when a claim has to be
made.
One of the issues that are of great concern affecting
professionalism in insurance activities is resorting rebating by
intermediaries. Rebating is prohibited as per Section 41 of the
Insurance Act, 1938 and the public are advised not to deal
with intermediaries offering rebate of any kind.
Rebating means a share of commission receivable by the
agent/broker is given to the prospect/client. This is done to
attract the client in the purchase of insurance contract by
offering cash. Competition among agents/brokers is so cut-
throat, some agents indulge in such unethical practices.
Public are advised not to ask for any prohibited rebates in
premium since commission payment to an agent is the only
income for some to take care of their families. Similarly,
agents are also advised not to indulge in such practices which
could cause them loss of agency income.

➢ Need For Insurance Agent:

Insurance is sold, not bought, because of its
intangibility ( Fig- 2a shows the intangibility of
insurance)
People do not understand, how insurance works. It is
like sand when it is bought and gold when it is realized.
 Insurance is a concept that has to be explained
personally.
Buyer has his own special needs and requires
specialized solution.
It is the AGENT who knows the proposer and he only
can act as first line underwriter.

FIG-(2a)

➢ Alternate Distribution Channels:

The insurance marketplace is undergoing a transformation
that may eventually lead to significant changes in how
consumers purchase insurance products. A variety of
distribution channels are currently used in this market place
and some insurers utilize a combination of distribution
channels. Such as;
Direct Sales
Brokers
Corporate Agents
Bancassurance
Telemarketing
Online Marketing
Retail Chains
Franchisee
 ➢ Code of Conduct for Insurance Agent:
No insurance agent shall:
Solicit or procure insurance business without holding a
valid license;
Induce the prospect to omit any material information in
the proposal form;
Induce the prospect to submit wrong information in the
proposal form or documents submitted to the insurer
for acceptance of the proposal;
Behave in a discourteous manner with the prospect;
Interfere with any proposal introduced by any other
insurance agent;
Offer different rates, advantages, terms and conditions
other than those offered by his insurer;
Demand or receive a share of proceeds from the
beneficiary under an insurance contract;
Force a policyholder to terminate the existing policy
and to effect a new proposal from him within three
years from the date of such termination;
Have, in case of a corporate agent, a portfolio of
insurance business under which the premium is in
excess of fifty percent of total premium procured, in
any year, from one person (who is not an individual) or
one organization or one group of organizations;
 Apply for fresh license to act as an insurance agent, if
his license was earlier cancelled by the designated
person, and a period of five years has not elapsed from
the date of such cancellation;
Become or remain a director of any insurance
company;

Every insurance agent shall,-

Identify himself and the insurance company of whom he is
an insurance agent;
Disclose his license to the prospect on demand;
Disseminate the requisite information in respect of
insurance products offered for sale by his insurer and take
into account the needs of the prospect while
recommending a specific insurance plan;
Disclose the scales of commission in respect of the
insurance product offered for sale, if asked by the
prospect;
Indicate the premium to be charged by the insurer for the
insurance product offered for sale;
Explain to the prospect the nature of information required
in the proposal form by the insurer, and also the
importance of disclosure of material information in the
purchase of an insurance contract;
Bring to the notice of the insurer any adverse habits or
income inconsistency of the prospect, in the form of a
report (called “Insurance Agent’s Confidential Report”)
along with every proposal submitted to the insurer, and
any material fact that may adversely affect the
underwriting decision of the insurer as regards acceptance
 of the proposal, by making all reasonable enquiries about
the prospect;
Inform promptly the prospect about the acceptance or
rejection of the proposal by the insurer;
Obtain the requisite documents at the time of filing the
proposal form with the insurer; and other documents
subsequently asked for by the insurer for completion of the
proposal;
Render necessary assistance to the policyholders or
claimants or beneficiaries in complying with the
requirements for settlement of claims by the insurer;
Advise every individual policyholder to effect nomination
or assignment or change of address or exercise of options,
as the case may be, and offer necessary assistance in this
behalf, wherever necessary;

CHAPTER-3
COMPANY PROFILE
3.1 About the Company:
Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint
venture company, formed by the Tata Group and American
International Group, Inc. (AIG). Tata AIG Life combines the Tata
Group’s pre-eminent leadership position in India and AIG’s global
presence as one of the world’s leading international insurance
and financial services organization. The Tata Group holds 74 per
cent stake in the insurance venture with AIG holding the balance
26 per cent. Tata AIG Life provides insurance solutions to
individuals and corporates. Tata AIG Life Insurance Company was
licensed to operate in India on February 12, 2001 and started
operations on April 1, 2001.
➢ VISION OF THE COMPANY: To be the fastest growing Life Insurance
Company in India, measured by annualized premium growth,
procuring persistent business, delivering first class customer
service.

➢ MISSION OF THE COMPANY: To fulfill the insurance and retirement

planning needs of both individual and corporate customers in
India and it’s constant endeavor to be the first in the industry
to design and expand product suite as well as distribution
channels to ensure we meet this objective.

➢ MAJOR ACTIVITIES OF THE COMPANY: Tata AIG Life Insurance

Company Ltd. provides insurance solutions to individuals and
corporates. Tata AIG Life Insurance Company was licensed to
operate in India on February 12, 2001 and started operations
on April 1, 2001. Tata AIG Life offers a broad array of life
insurance coverage to both individuals and groups, providing
various types of add-ons and options on basic life products to
give consumers flexibility and choice.

THE TATA GROUP:

Tata is a rapidly growing business group based in India with

significant international operations. Revenues in 2007-08 are USD
62.5 billion (around Rs. 251,543 crores), of which 61% was from
business outside India. The Group’s Net Profit for 2007-08 is USD
5.4 billion (around Rs. 21,578 crores). The Group employs around
350,000 people worldwide. The Tata name has been respected in
India for 140 years for its adherence to strong values and
business ethics. The business operations of the Tata Group
currently encompass seven business sectors - Communications
and Information Technology, Engineering, Materials, Services,
Energy, Consumer Products and Chemicals. The Group's 28
publicly listed enterprises have a combined market capitalisation
of around $60 billion, among the highest among Indian business
houses, and a shareholder base of 2.9 million. The major
companies in the Group include Tata Steel, Tata Motors, Tata Consultancy
Services (TCS), Tata Power, Tata Chemicals, Tata Tea, Indian Hotels, Tata
Teleservices and Tata Communications.
AMERICAN INTERNATIONAL GROUP, INC. (AIG):
American International Group, Inc. (AIG), a world leader in
insurance and financial services, is the leading international
insurance organization with operations in more than 130 countries
and jurisdictions. AIG companies serve commercial, institutional
and individual customers through the most extensive worldwide
property-casualty and life insurance networks of any insurer. In
addition, AIG companies are leading providers of retirement
services, financial services and asset management around the
world. AIG's common stock is listed on the New York Stock
Exchange, as well as the stock exchanges in Ireland and Tokyo.

3.2 Tata AIG Provides Insurance Covers To:

Individuals
Corporates
Micro insurance

• Individuals
Each one of us is unique. Yet many of us share the same concerns
over the course of our lives.
For instance, you may have asked yourself, “Who will take care of
my family if something happens to me?” Tata AIG Life is here to
help & provide answers to questions just like that one. For
example, if you:
• Are hospitalized or have a prolonged illness?

For this Tata AIG Life offers: Invest Assure Health, Tata AIG Life
Health Investor, Tata AIG Life Health First, Tata AIG Life Hospi Cash
Back , & Tata AIG Life Health Protector - 5 Year Guaranteed Renewal
Accident and Health Plan.
• Want a low cost term plan which offers a large cover?
For this Tata AIG Life offers Tata AIG Life Raksha 10/15/20/25.
Tata AIG Life realizes that individual want the best for his/her
children. Tata AIG can help you ensure they have ample money
available to pay for education or marriage;
For this Tata AIG Life offers Tata AIG Life United Ujjwal Bhavishya, Tata AIG
Life Starkid, Tata AIG Life Assure Career Builder, Tata AIG Life MahaLife Gold
and Tata AIG Life Assure Educare at 18 & Assure Educare at 21.

With prices on the rise, it’s important that you start planning for Retirement now.
Tata AIG can ensure that your Golden Years are truly ‘Golden’ by offering
insurance plans such as; Tata AIG Life Assure Golden Years Plan, Tata AIG Life
Easy Retire, Tata AIG Life MahaLife Gold, Tata AIG Life Nirvana, Tata AIG Life
Invest Assure II. Tata AIG Life Invest Assure Gold, Tata AIG Life Invest Assure
Future, Tata AIG Life Nirvana Plus, Tata AIG Life Invest Assure Swarna Jeevan.

• Corporates
For any corporation, its employees and customers are its greatest assets. And it is
important for the organization to take the necessary measures from time to time to
maintain their motivation levels. Offering security to them and their families with
insurance cover is one way to show that you care.

Tata AIG Life also offers solutions for managing the liabilities on Gratuity and
Superannuation products for the employees.
Range of corporate life insurance products include:

Employee Benefits.
Credit Life.
Group Pensions.
Workplace Solutions.

• Micro Insurance
Micro Insurance is the process of delivering and servicing relevant and affordable
life insurance products to the low-income socio economic strata. The focus of Tata
AIG Life’s Micro insurance program is rural India, where traditionally the far-
flung, lower and lower middle-income segments have had limited access to life
insurance services.
How does Tata AIG Life operate?

Tata AIG Life operates in 11 states with a specific relationship management team
for each state. A dedicated & trained sales and marketing team manages the front
end of the Micro insurance program. Micro insurance distribution model of the
company is collaborates with NGO’s (Non-governmental organisations) and Rural
organizations with community level SHG (Self Help Group) women advisors who
provide insurance advisory services to the rural customers at their doorstep. The
grassroots level agents explain the product details in the local language of the
customer, thereby enabling the customer to make a decision. The training
programs, brochures, contract documents, and application forms are available in 8
different languages other than English and Hindi.
Cost of Tata AIG Life’s plans:

Tata AIG Life Micro insurance plans are available with or without survival benefits
and with death benefits ranging from Rs.5, 000 to Rs.50, 000. With premiums as
low as Rs.5** per month, there is now an affordable life insurance product for
nearly every rural household in India.

** The premium mentioned above is exclusive of Service Tax.

3.3 Organisational structure of the company:

Oraganisational structure of Tata AIG Life is consisting of
three vertical segments. i.e.
Sales( B A Model)
Operation
Training
➢ sales MD

(COUNTRY HEAD)

(ZONAL HEAD)

(REGIONAL HEAD)

CLUSTER HEAD CLUSTER HEAD

 MANAGER MANAGER INCHARGE
INCHARGE

(BUSINESS ASSOCIATE) BA- BA- MANAGER

MANAGER
MBA(MANAGRIAL-BA) Sr.BA BA PBA(Provisional BA)

NOTE: THESE ARE ON COMMISSION BASIS

(THEY ARE NOT COMPANY EMPLOYEE)

➢ Operation (COUNTRY
HEAD)

ZONAL BRANCH OPERATION

HEAD
(ZONAL HEAD)

(REGIONAL HEAD)

CLUSTER MANAGER CLUSTER MANAGER

BRANCH OPERATION BRANCH OPERATION

EXECUTIVE
➢ Training
(COUNTRY HEAD)
 (ZONAL HEAD)
(REGIONAL TRAINING MANAGER)

CLUSTER TRAINING CLUSTER TRAINING

MANAGER MANAGER

BRANCH TRAINING
3.4BRANCH TRAINING structure of Tata AIG Life
Organisational
MANAGER
(Dibrugarh Branch):
CLUSTER HEAD
➢ sales (Mr. NEERAJ GOGOI)

MANAGER INCHARGE
(Mr. AMITABH DAS)

BA-MANAGER BA-MANAGER BA-MANAGER

Mr. BISHAL Mr. RAJU Mr. KOUSHIK
MBA(MANAGRIAL-BA)
CHOUDHRY Sr.BA NANDI
BA PBA(Provisional
BORAH BA)
2 NOs 8 NOs 20 NOs
TOTAL ADVISORS UNDER BAs ARE 400+

➢ Operation CLUSTER OPERATION HEAD

BRANCH OPERATION BRANCH OPERATION

MANAGER Mr. ARUNAVA EXECUTIVE Mr. JAFRI YASIN
CHAKRABORTY

➢ Training
 BRANCH TRAINING
MANAGER Mr.

3.5 Financial Highlight of the Company:

➢ Tata AIG Life Insurance Company’s Total Premium increases by 253 % to Rs 254
crores over 1, 60,000 new individual lives insured during FY 2003-2004.
Tata AIG Life achieves an all-round robust growth in its business
during FY 2003-04:

• Total Premium increases by 253 % to Rs 254 crores.

• First year Premium moves-up by 245 % to Rs 180 crores.

• Total Sum Assured goes up by 116% to Rs 11,485 crores.

• Rural insurance sales increases by 152% to 23,034 policies.

• Over 1, 60,000 new individual lives insured during FY 2003-04.

➢ FOR THE PERIOD ENDING MARCH-2006

Tata AIG Life Insurance total annual premium up 77 % to Rs 880

crores:

• FYP income up 48% to Rs 432 crores.

• Agency Total Premium Income up by 61% with persistency rate of 85%.

• Total Premium Income from Alternate Channels up 132 %;

Bancassurance growing at 179 %.

• Geographical network expanded to cover 45 cities with 85 offices.

• Lives covered under rural sector - 21% versus Regulatory obligation of
16%.

• Lives covered under Social sector 101,873 versus Regulatory obligation

of 20,000 lives.

➢ FOR THE PERIOD ENDING FEBRUARY-2009

FYP u/w (Rs. In No. of policies/scheme No. of lives covered

Crores) under group scheme
FEB-09 UPTO UPTO FEB-09 UPTO UPTO FEB-09 UPTO UPTO
FEB-09 FEB-08 FEB-09 FEB-08 FEB-09 FEB-08
INDIVIDUAL 2.27 34.95 36.87 480 7262 6516
SINGLE
PREMIMUM
INDIVIDUAL 76.09 742.46 639.48 58366 595684 398899
NON-SINGLE
PREMIMUM
GROUP 2.18 30.14 56.96 0 7 4 2389 80093 335164
SINGLE
PREMIMUM
GROUP 7.15 94.06 52.86 4 67 64 12314 294395 195336
NON-SINGLE
PREMIMUM
 CHAPTER-4
RECRUITMENT & CAREER OPPORTUNITIES FOR
AN ADVISOR WITH TATA AIG LIFE
4.1 Introduction
Advisors are the backbone of any life insurance company.
They play the most important and key role for company to
cashing the revenue through selling the insurance policies.
Some years ago Advisors were known as Agents but Tata AIG
introduced them as Advisors which seems to be more
appropriately.

In India, ever since the insurance industry has opened up,

opportunities for insurance companies have become limitless.
To tap this opportunity, they require insurance agents
because agents are one of the most significant modes of
bringing in much-needed business to the company.

4.2 Overview of the Tata AIG Life Recruitment

Process
➢ Prospecting
➢ Approach- Attraction and Invitation
➢ Career Opportunity Presentation- COP
1:1 COP
Branch COP

➢ Candidate Selection:
 Profiling
Aptitude Test
Selection Interview
Candidate Sign up

➢ 50 Hours Pre- Licensing Exam and Training

Licensing
Recruitment Activity Management by BA

4.3 Opportunities for Tata AIG Advisors:

Apart from making a good profit without an investment,
Tata AIG provides an excellent carrier opportunity.
Enjoy the benefit of residual income.
Maintain flexible work hours.
Earn attractive commissions.
Participate in exciting recognition programs.
Capitalize on the growing Insurance market.
4.4 Benefits Available for Advisors:

Apart from being remunerated well, Advisors get a lot of

recognition and can win awards by participating in the
monthly, quarterly, half yearly, yearly business competition.
These business reviews can fetch foreign tours and travel free
of cost. Easy way to globe trot is to become an advisors with
TALIC.
Become an Advisor to really see the benefits. It is told that
"seeing is believing '. We are ahead and we say "experiencing
is believing" are you ready to experiment.

Foreign tour offered by TALIC for advisors.

4.5 Models Of Tata AIG For Advisor:

As Tata AIG Life Insurance Advisor, the sky is not the limit—
you can go beyond. Thus Tata AIG Life introduced certain
models for advisors;

Business Associate (BA) Model.

(Promoting as SAMPATTI YATRA)
 Business Service Partner (BSP) Model.
(Promoting as DHAN VARSA)

➢ Business Associate (BA) Model;

Sampatti Yatra
The journey towards Wealth & C areer

The Yatra (Career Path)

Tata AIG offers dual career opportunities to Newly Licensed

Advisor (NLAs). NLA is a mandatory for 3 month development
phase. Month of licensing is taken as Month 0. After this they
have option to move either in Agency Leader Career Path or
Individual Sales Career Path (Fig-4a).
 Fig-4a

If an agent chooses Agency Leader Career Path then he/she

has to make his/her own team by recruiting new agents. In a
leadership career path there is unlimited earning opportunity
& also it provides tremendous opportunity to grow as a
Provisional Business Associate (PBA) → Business Associate
(BA) → Senior Business Associate (SBA) → Managerial
Business Associate (MBA) on the basis of performance &
certain criteria (Fig-4b).
Further an agent has option to move toward Individual Sales
Career Path, there is also opportunity to grow as an
Advisors→ Senior Advisors → executive advisor on the basis
of performance & certain criteria (Fig-4b). Again company
provides an opportunity to migrate toward leadership path
from an individual sales career path at any time (Fig-4b). In
both the path there is unlimited earning opportunity with their
growth (Fig-4c).
We have Fast Tracked
the YATRA for an Advisor to
become a Leader

Special Career
Opportunity for
Opportunity to
MIGRATE to Sales
FIG-4b
Leadership Path
 FIG-4c

Progression for NLA on Sales Leader Career

Path

Figurer (4d) shows the criteria for the growth of NLAs on sales
leader career path.
NLA has to clear aptitude test, L1 (Level-1), & validation program
conducted by Tata AIG Life with the recruitment of three Advisors
and also he has to submit 3 policies having FYP 20,000 to become
PBA.
Again if team size of PBA is increases to 15 and also he/she has to
maintain team FYP of Rs.100, 000 in last six month to become a
BA (Business Associate), apart from this he/she has to clear L2
(Level-2) & BA validation program conducted by Tata AIG Life.
Further if BA will produce 2 BAs from his direct team & also he/she
has to attend BA Star – L1 to L3 training program conducted by
Tata AIG Life, then he/she will be promoted as SBA (Senior
Business Associate).
If SBA will produce 2 SBAs from his direct team & also he/she has
to attend all the 4 levels of BA Star training program conducted by
Tata AIG Life, then he/she will be promoted as MBA (Managerial
Business Associate).

CRITERI
 • Interview
• Clear Aptitude Test
• Clear Validation
• 3 policies & 20,000
issued FYP

• Overrides accrues from the

1st recruit
• CONTRA
3 Recruitment • Team Size: 15 • Maintain CMC as per
• Min 6 months PBA
• Min 12
CT Contract
as BA months as
• Clear PBA • Team FYP of
SBA
Validation, L1& 100,000 in last • Direct Team of
ULIP 6 months min 15 & 2 • Direct Team
BAs. of 15 & 2
• completes 90 •
Clear L2 & BA
days
Fig-4d
• BA Star – L1 to SBAs.
Validation
Earning In Leadership Path:
L3 • All 4 levels

• Earning of direct commission from self code.

• MPF (Monthly Performance Fees) from direct team.
• Even MPF from indirect team (up to Level 2).
• Monthly Special Bonus (MSB) from direct team.
• Quarterly Persistency Bonus (QPB) from direct team.
• Annual Productivity Bonus (APB)
• Direct Team Growth Incentive.

FIG-4e, Direct & indirect team of BA

 Progression for NLA on Individual Sales Career
Path

9 policies having
90,000 FYP in 90
days

• 6 policies having • Min 12 months as

• Minimum 90 days 60,000 FYP in 3 Sr. Advisor.
(M0 to M3) as NLA. rolling Months &
• 500,000 FYP & 24
• L1 Training. • Minimum 1 month Cases or 750,000 FYP
as an Advisor. in 12 rolling months.

• Completion of Level • Completion of Level 2

1 Induction, AML & Training, AML & MCG,
MCG, & ULIP ULIP Certification.
Fig-4f
While the figure 4f shows the criteria & growth pattern of NLAs on
Individual Sales Career Path. NLA will be promoted as an advisor
after the period of 90 days. Then advisor will be promoted as a
senior advisor, if he/she gives 6 policies having 60,000 FYP in 3
rolling months, apart from this they have to attained L1 (Level-1),
AML (Anti Money Laundering), MCG (Market Conduct Guideline), &
ULIP (unit Linked Insurance Plan) training program conducted by
Tata AIG Life. Simultaneously he/she will be promoted as an
executive advisor if he/she gives 500,000 FYP & 24 Cases or
750,000 FYP in 12 rolling months, and again they have to attend
L2 (Level-2) training program.
Again an NLA can become directly senior advisor by submitting 9
policies having 90,000 FYP in 90 days.
Earning in Individual Sales Career Path:
• Direct commissions from individual sales.
 • Monthly Production Bonus.
• Quarterly Persistency Bonus
• Annual Production Bonus.

➢ Business Service Partner (BSP) Model:(Promoting as DHAN

VARSA)

FIG-4g
Business service partner model is a very new concept of Tata
AIG Life to boom its sales in terms of FYP (First Year Premium).
In this model Tata AIG Life recruits one Business Service
Partner on the basis of certain criteria like it should have its
own firm. With this model company can penetrate more &
more in rural area.
BSP makes their own team and its income is completely
depending upon the performance and growth of the team
(Fig-4g).

Earning in BSP Model:

• Advisor Identification & Recruitment Fees.
• Advisor Certification Fees.
• Advisor Functionality Fees from direct team.
• Advisor Functionality Fees from indirect team (up to Level-2).
• Activity Factor Fees.
[Activity Ratio (%)] = No. of Active Advisors
 Total Number of Advisors

• OPEX Reimbursement; is calculated on the basis of the

number of active advisor. Active Advisor is defined as an
Advisor in the Direct & Indirect team who has issued &
cleared one or more policies & earned at least Rs.1, 000 FYC
in a month.

➢ `BSPs under TALIC at Dibrugarh Branch:

At present there are 7 BSPs under TALIC at Dibrugarh Branch,
and under these BSPs there are 58 NLAs.

CHAPTER-5
THUMB RULE FOR RECRUITMENT
5.1 Recruitment:

Recruiting good agents has often been considered the

number one job & problem in agency management. It is
certainly a task that new companies in the Indian life
insurance market have put much stress on. The reason is that
life insurance remains a product, not many are easily
disposed to buy and not many want to sell either. The survival
of agency manager depends on his convincing enough
qualified and competent people to choose life insurance
selling as a permanent career. Recruitment involves selecting
the right candidate for the agent’s job and selling the agency
idea to him.

5.2 Why Recruitment?

Recruitment is critical when the agency force is small. But it
becomes important even for a fairly large sized agency.
Agency groups, like companies and products, have a life
cycle. Turnover of agents is a fact of life business. In course of
time only some agents can maintain high new business
growth rate and remain stars. Many quite or turn inactive
after some time while other tend to lose steam. Some, who
have a regular flow of high renewal commission, may relax
efforts or look for other pastures in which their skills could be
employed. If the agency manager does not continuously add
new people to replenish the resulting depletion of selling
energy, the agency system would begin crumble in spite of its
apparent success.

From the following calculation we can understand the need

for recruiting new & quality advisors:
FYP = TOTAL NO. OF ADVISORS × ACTIVITY RATIO × CASE RATE × CASE SIZE
Were,
FYP = First Year Premium.

No. of Active Advisors

Activity Ratio (%) = Total Number of Advisors

Case Rate = Total No. Of Policies

Total No. of Active Advisors

Case Size = Total Premium

Total No. Of Policies

It is calculated that only 32% advisors remain active by the

end of month.
While, the case rate of Tata AIG Life is 1.5 per active advisor
in a given month.
And case size is around Rs. 15,000 per policy.
For example at Dibrugarh Branch (TALIC) there are around
400 advisors.
Therefore, FYP in a given month = 400 × 32/100 × 1.5 × 15000
= 128 × 1.5 × 15000 = Rs.
28, 80,000.

Again if total no. of advisor is increase to 500, & other things

remain constant.
Then, FYP = 500 × 32/100 × 1.5 × 15000 = Rs. 36, 00, 000.

Therefore from the above calculation we can say that FYP is

directly proportional to the No. of advisors. So it necessary to
recruit more & more advisors, and again apart from recruiting
new advisors it is necessary to recruit quality advisors to
maintain Activity Factor, Case Rate, & Case Size.

Why then do agency managers often fail to recruit? The

reason is that it is not considered urgent enough. There is a
lot of energy that needs to be expended to recruit and
develop a new agent but payoffs come much later. Again,
there are periods (like March) when one has to focus on
getting business. It is a poor time to bring new people into the
agency. Many are lost simply because one could not devote
sufficient time to develop them.
New men, typically, would contribute only a small share of the
agency business so that if one dose not recruit, it will not
make an immediate difference to the agency operation. The
penalty may be there but it is a deferred one. For example, if
there is no recruitment done in the years 2006 & 2007, the
impact may really be felt only by 2010. Remember that at
that time more than half the agency’s business may come
from agents recruited after 2005. The two years of non-
recruitment would have created a huge hole in the fabric that
cannot be sewed up quickly by extra recruitment in 2010. The
omission by then has become irrevocable.
The only solution to the above is to recruit continuously and
at all times- indeed make a habit out of recruitment. No
doubt, the lean months are when one can spend more time
on recruiting while peak business periods like December to
March may put other demands on the agency manager’s
time. But we must remember that peak months also provide
an opportunity to new agents to get off to a flying start.
Nothing works, like early success, to motivate an agent to
plunge into the business with heart and soul.
The only thing worse than non - recruitment is to recruit
indiscriminately and for the sake of fulfilling a recruitment
quota. This is a disease, which seems to have caught on with
life insurance companies in the Indian market. It is like
drawing water from a well with a bucket that has a hole in it.
The logic seems to be that if you get sufficiently large
numbers, many will drop off but some may stay. There are
two problems with this logic. First, it is very inefficient way of
doing things. Agents are deadweight unless they can work
independently and generate new business. What is the
purpose of recruiting an agent if the agency manager has to
do canvassing of business and other activities on his behalf?
Many drop off any way after a few halfhearted attempts.
Second, what many marketing managers do not seems to
realize is this serious harm done to an agency organization
and agency manager’s morale when he is not even allowed
(leave alone supported) to strike a balance between
recruitment and agent development one may argue that
winners (the agents who will make it) do not need too many
winners would like to be part of a ship that is rudderless,
without the captain in sight and crew that is verge of jumping
off?
5.3 Whom to Recruit?
The agency organizations would be crippled era long if the
right kind of people were not in the ship. The agent’s job like
any other contains a job description and a job specification.
The agency manager needs to be clear about not only what
he requires the agent to do also a profile of who would play
the role well. It is not necessary or even possible to get
readymade MDRT stuff. The key is to discover those people
who have the latent potential to grow and to be groomed so
as to emerge as sales champions. As in new business
prospecting, one must build a reservoir of potential
candidates who can be offered an agency career. Let us
looked at some of the qualities to look for (Fig-5a):

Fig-5a

➢ The candidate should ideally come from a background

where work and life has been challenging and every meal
had to be earned the hard way. An agent’s job is essentially
entrepreneurial. The only security that there is comes from
the ability to perform & this is often not within one’s
control. A great deal of courage, self-discipline, self-
confidence, self-drive is needed to enable one to stick to
 the course & work in an environment where results do not
come easily.
➢ A person with some business & service experience & who
has enjoyed success pattern may make a good recruit.
Such a person is likely to have a fair amount of maturity of
thought and a sense of responsibility. Success also requires
discipline and healthy work habits. Remember, customer
have to be sure about the person from whom they are
buying insurance.
➢ The candidate must obviously be one with the ability to
relate with and communicate to people. One of the key
things to especially look for is the social mobility of the
prospect- is he actively engaged in community and social
activities where he meet and render services to other
people. Is he someone who is liked?
➢ One of the critical requirements of an agent is character &
attitude. Character is about doing what is right and ethical
and in the interest of one’s customers. Similarly, one must
be sure of the agent’s attitude to insurance and the
customer. The agent must be the type who believes in
insurance & the importance of financial security.
➢ Finally, the most important attribute to look for is fire in the
belly – a hunger to excel in the agency profession. There
are no free lunches. Success has a price and one can pay
that price only when there is sufficient fire within.

5.4 Where to Recruit?

The types of people we have profiled above are obviously not
likely to be sitting idle at home. Usually, they are engaged
somewhere. It is also obvious that good prospects do not
easily come by. One has to make a search for them and
discover them. Let us look at some of the source from which
one may draw good prospects.
➢ A most potent source lies in individuals and
professional/occupational being displaced by industry wide
vocational disturbances. A large number have taken
voluntary retirement (VRS) or face retrenchment. Similarly
many business proprietors have their revenues and profits
affected by competition and adverse trends. These are
people likely to be interested in life insurance sales career.
They do not posses maturity and work experience but also
are at an age when fire is still there.
➢ A next source is to liaise with Placement Agencies and
other platforms where people in search of jobs are
registered. One may also advertise about a job opening.
The problem is that such recruitment centers are unlikely to
promote a job in life insurance selling. This is where selling
the career become important.
➢ For several decades, the most popular source of agency
recruitment has been members of one’s extended family &
community, friends circle, one’s customers and center of
influence. They may either themselves become agents or
recommend and help in recruiting others. Policyholders,
especially if they are satisfied clients, could provide great
support in this regard. The problem is that many of them
are not business minded. They have valuable personal
 contacts but the agency manager would need to work and
assist to convert these into professional and business
relationships.
➢ Fourth, there are salesmen in other areas. Those in FMCGs
can be found in retail outlets or moving from house to
house. Others from the pharmaceutical industry visit
doctors and hospitals. There are salesmen all around the
place. The task is to ask if they intend to remain in their
present line of sales all their lives. Why not plunge into
something a lot more challenging and rewarding?
➢ One of the most promising sources of recruitment is the
housewives looking for a part time job to supplement
family income. Women can understand personal and family
financial problems and are able to interact on an emotional
level. Remember they constitute half of the mankind and
are the pillar of support in every family. In many Indian &
Asian communities, women would not move amidst and
talk freely to male strangers. But housewives would listen
to other housewives. Perhaps the best advantage stems
from the fact that millions are seeking new career
opportunities today and are entering the job market in
large number.
➢ The college campus is also a possible source of
recruitment. One hazard is that students may not stick with
it for long. Those in the top half of class (academic)
performers are likely to search for and find other jobs or go
for higher studies. It would be worthwhile to look for good
solid people at the lower half of the class.
➢ Finally there is the professional financial adviser (e.g. a CA
or income tax practitioner) who may consider the agency
as an additional part-time source of income.

5.5 How to recruit?

The recruitment process has two steps:

Find out the

prospect

Recruitment

Selling the
agency to the
selected prospect

➢ The first stage is that of qualifying the prospect- making

sure he/she is the right candidate for the agency. It may be
wise to spend some time for the purpose- observing and
getting to know the prospect better. There are many things
to know, such as family background & education, past
 achievements, social mobility and connections, dreams and
ambitions, how he looks at life insurance and its selling.
Among other issues it is especially vital to look for the
thread of discontentment- is the prospect dissatisfied
with his present job and state of affairs and ready to take
the plunge. Would he have enough fire and discipline to
make a success of a job? These are matters involving
judgment and a prudent agency manager would not hurry.
➢ The second stage is that of selling the agency to the
selected prospect. This may again involve one or more
sessions:
Selling the agency career.
Establishing leadership.
Selling the company.
• Selling the agency career: Every prospect needs to be
first of all convinced that a career in life insurance selling
offers a rewarding way of life.
Let us start with stability. There is tremendous stability in
this career, once the early humps are tackled. Every new
policy earns not only 30-40% commissions but also lots
of incentives as in SAMPATI YATRA (BA Model) of Tata AIG
Life. The beauty is that the market we are working in is
continuously expanding.
As for the career advancement, the sky is the limit. An
agent has one of those jobs where one can earn more
than the company chairman. As there are tremendous
growth opportunities in SAMPATI YATRA (BA Model) of
Tata AIG Life.
 A third major selling point is the freedom that comes with
the job here is the career where one can set one’s own
time schedule of work and life choose one’s own
clientele; learn continuously on the job and move ahead.

• Establishing leadership: we come now to one of the most

critical items that agency manager has to sell. He has to
sell himself and convince the prospect to accept his
leadership and supervision. Let us call this session a
commitment interview. In this interview the agency
manager extends an invitation and a promise that joining
his agency group is the path to a rewarding career.
Agency manager may have many examples to relate
about successful agents who made it under his
leadership.
• Selling the Company: Let us now come to the third item
to be sold- the company. One way of doing so has been
to lure agents through higher material incentives and
commissions. For a new agent prime question is the
company’s acceptability and whether it can be sold to
members of the public. The other new concern of any
newcomer would be about the company environment &
culture.

CHAPTER-6
ANALYSIS PART
6.1 How to find out prospect for recruitment
(METHODS)?
For an individual whole market is divided into three segments
(Fig-6a):
 Fig-6a
Now problem is that how to enter into these markets?
➢ Natural market: is your own market, every individual have
its own contact base. In this market he/she can approaches
directly. Size & potentiality of this market is completely
depends upon the relationship, behavior, attitude &
popularity of an individual.
➢ Referral market: Insurance business is highly depended on
referral market. One has to develop the habit of taking
reference from other in order to penetrate more & more
into the market. For example an individual has 10 contact
base, and again he can get at least 2 reference from each
of them, further he can get more reference from them & so
on forming a chain reaction pattern.(Fig-6b).

Fig-6b
So market is there, only there is need to work out.

But main problem is that how to enter into the Cold Market or
completely unknown market?
From this project work I found that market survey technique is
the best way to find out prospect from cold or unknown
market.
In the previous chapter (5.3) we have seen the most
important attribute to look for is fire in the belly – a hunger to
excel in the agency profession.
With the help of Market Survey Tool we can know the NEED &
PREFERENCE for one’s supplementary income and also it will
help us to get data base. By knowing the need & preference
of an individual one can easily target the individual for
recruitment.

I have done market survey of around 150 people randomly at

Dibrugarh and its nearby place with the help of market
survey tool.
Findings: TABLE 6-i
Happy with Need for Preference for supplementary income
their current supplementary
job & financial Income
situation.
Multilevel
Yes NO Yes May NO As a
marketing
Part Tuition Othe
life time s rs
be insuran busines
ce s
agent.
71 79 69 67 14 21 7 52 47 23

➢ Interpretation :
From the above pie chart we can see that 53% people are not
happy with their current job/financial situation, because of
increasing cost of day to day life & limited source of income.
So there is tremendous opportunity in the market for
targeting people to recruit as an insurance advisor by
showing them career & unlimited earning opportunities in the
business of insurance.
Fig- 6c

➢ Interpretation :

From the above pie chart we can see that only 9.33% people
said that they are completely happy with their job/financial
situation and there is no need for any supplementary source
of income for them.
In the previous pie chart (fig.6c) we have seen, 47%Fig. 6d
people
said that they are happy with their job/financial situation, but
only 9.33 % (Fig.6d) people said that they don’t need the
supplementary source of income, which gives an indication
that there are some people in this 47%, who need an extra
source of income.
So from the above pie charts we can say that more than 90%
people need a supplementary source of income. Therefore, by
showing them unlimited supplement earning opportunities in
this business, we can easily target them for recruitment.

➢ Interpretation :
From the above pie chart (Fig. 6e) we can see that 14%
people says directly that life insurance agent is the best way
to supplement ones income, because of unlimited earning
opportunity and flexible working hour. So, we can easily
target this segment of people for recruitment.
Even we can target other segment of people, those who
prefer part time business, tuitions, multilevel marketing as a
supplementary source of income by showing them unlimited
Fig. 6e
earning opportunity, because they might not have any idea
about the earning opportunity in the business of insurance.
Since, by knowing the need and preference for
supplementary source of income with the help of market
survey tool I have recruited 5 advisors (2 from people who
are preferring life insurance agent, 1 from multilevel
marketing, 1from part time business & 1 from tuitions) & even
some are in pipeline, from the cold market *(* Market of
Dibrugarh District are completely unknown for me).
Thus we can say that market survey technique is the best
way to find out potential prospect for recruitment.
6.2 TO FIND OUT THE POTENTIAL SEGMENTS FOR
RECRUITMENT:
Market segmentation is the process of dividing the total
market into relatively distinct homogeneous sub-groups of
consumers with similar needs or characteristics that lead
them to respond in similar ways to a particular marketing
program.
➢ Bases for Segmentation: A segmentation variable is a
characteristic of individuals, groups or organisations that
marketers use to divide and create segments of the total
market.
 Segmentation descriptors fall under four major
categories and include geographic variables,
demographic variables, psychographic variables, and
behavioral variables.
 Geographic variables focus on where the customers are
located.
 Demographic variables identify who the target customers
are.
 Psychographic variables refer to lifestyle and values.
 Behavioral variables identify benefits customers seek,
and product usage rates.

With the help of market survey tool I have segmented the

market mainly on the basis of demographic & geographic, for
recruitment.
➢ Demographic basis:

Occupation
Table 6-ii
Occupation Happy with current
job/financial situation.
Yes No TOTAL
Teachers 8 7 15
Advocates 6 9 15
Doctors 14 1 15
Pvt.-service 7 8 15
Govt.-service 8 7 15
Businessmen 13 2 15
Salesperson (M.R, 2 13 15
Sahara Agent etc.)

Students 6 9 15
House wife 3 12 15
professional 4 11 15
financial adviser
( e.g. C.As)
TOTAL 71 79 150

HAPPY WITH THEIR CURREN JOB/FINANCIAL SITUATION

➢ Data Interpretation :

From the above figure (Fig. 6f), we can see that 13

salesperson out of 15 (86.66%) are not happy with their
current job/ financial situation followed by 12 housewives
(80%), 11 professional financial advisors (73.33%), 9
advocates & students (60%), 8 Pvt. Service holder (53.33%),
and 7 teachers & Govt. service holder (46.66%).
Fig. 6f (93.34%)
On the other hand businessmen (86.67%) & doctors
are happy with their job/financial situation. Therefore, we can
say that they cannot be a potential segment for recruitment.

Table 6 ii

Occupation Need for supplementary need

Yes May be No TOTAL
Teachers 7 6 2 15
Advocates 9 6 0 15
Doctors 1 9 5 15
Pvt.-service 5 9 1 15
Govt.-service 7 8 0 15
Businessmen 2 11 2 15
Salesperson (M.R, 13 2 0 15
Sahara Agent etc.)

Students 9 6 0 15
House wife 12 2 1 15
professional 4 8 3 15
financial adviser
( e.g. C.As)
TOTAL 69 67 14 150

NEED FOR SUPPLEMENTARY INCOME

➢ Data Interpretation :

From the above graph we can see that 13 salesperson out of

15 says there is need for supplement source of income i.e.
86.66%.
Again 12 housewives out of 15 i.e. 80% says there is need for
supplementary source of income, followed by 9 students &
advocates (60%), 7 teachers & Govt. employee (46.66%),
and 5 Pvt.-Service holders (33.33%). Fig. 6g
Only 1 doctor & 2 businessmen out of 15 i.e. 6.66% & 13.33%
respectively, say there is need for supplementary source of
income.

Occupation Preference for supplementary

Table 6 ii income.
(c)
As a Multileve Part Tuition Other TOTAL
life l time s s
insuran marketin busine
ce g ss
agent
Teachers 1 0 2 12 0 15
Advocates 2 0 8 3 2 15
Doctors 0 0 0 4 11 15
Pvt.-service 0 0 9 5 1 15
Govt.- 0 0 10 5 0 15
service
Businessme 0 0 10 0 5 15
n
Salesperson 4 7 4 0 0 15

Students 3 0 2 10 0 15
House wife 4 0 5 6 0 15
professional 7 0 2 2 4 15
financial
adviser
( e.g. C.As)
TOTAL 21 7 52 47 23 150

PREFERENCE FOR SUPPLEMENTARY INCOME

➢ Data Interpretation :

From the above graph we can see that 7 out of 15 i.e. 46.66%
professional financial advisers like CAs directly prefer life
insurance agent is the best way to supplement one’s income,
followed by salespersons & housewives (26.67%), students
(20%), advocates (13.33%), & teachers (6.67%).
While no, doctors, businessmen, Pvt.-service & Govt.-service
holder preferred life insurance agent is the best way to
supplements one’s income.
Fig.

Age group Happy with current job/financial

situation.
Yes No TOTAL
18-25 15 27 42
26-35 21 25 46
36-45 25 15 40
46-55 10 12 22
Table 6 iii
TOTAL 71 79(a) 150
Age group

HAPPY WITH THEIR CURRENT JOB/FINANCIAL POSITION

➢ Data Interpretation: From the above graph we can see that

27 people out of 42 i.e. 64.3% between age group 18-25
are not happy with their current job/financial situations
followed by age group 46-55 (54.5%), 26-35 (54.3%), & 36-
45 (37.5%).
Age group Need for supplementary
Table 6 iii need TOTAL
(b)
 Yes May be No

18-25 25 16 1 426i
Fig.
26-35 18 27 1 46
36-45 21 15 4 40
46-56 5 9 8 22
TOTAL 69 67 14 150

NEED FOR SUPPLEMENTARY INCOME

➢ Data Interpretation: From the above graph we can see that

25 people out of 42 (59.5%) between age group 18-25 says
there is need for supplementary source of income, followed
by age group 36-45 (52.5%), 26-35 (39.1%) and 46-56
(22.7%). Again we can see that 8 people out of 22 (36%)
between age group 46-56 says that there is no need for
supplementary source of income.
Age Preference for supplementary
Table 6 iii income.
group (c)
As a life Multilev Part Tuitions Other TOTAL
insuranceAGE GROUP
el time Fig.
s 6j
agent marketi busine
ng ss
18-25 6 4 9 18 5 42
26-35 10 3 18 12 3 46
36-45 5 0 16 15 4 40
46-56 0 0 9 2 11 22
TOTAL 21 7 52 47 23 150

PREFERENCE FOR SUPPLEMENTARY INCOME

➢ Data Interpretation: Form the above graph (Fig. 6k) we can

see that 10 people out of 46 (21.7%) between age group
 26-35 prefers life insurance agent is the best way to
supplements ones income, followed by the age group 18-25
(14.2%) and age group 36-45 (12.5%).
Table 6 IV
➢ Geographic Basis: (a)

Region Happy with current

job/financial situation.
Yes No
Fig.TOTAL
Fig. 6k
6k
Sub-Urban 31 45 76
Urban 40 34 74
TOTAL 71 79 150

Table 6 IV
(b)
Region Need for supplementary need
Yes May be No TOTAL
Sub-Urban 40 32 4 76
Urban 28 36 10 74
TOTAL 68 67 14 150

Table 6 IV
(c)
Region Preference for supplementary income.

As a life Multileve Part Tuition Other TOTAL

insurance l time s s
agent marketin business
g
Sub- 15 1 30 22 8 76
Urban
Urban 6 6 22 25 15 74
TOTAL 21 7 52 47 23 150
 HAPPY WITH THEIR CURRENT JOB/ NEED
FOR SUPPLEMENTARY INCOME

FINANCIAL POSITION

PREFERENCE FPR SUPPLEMENTARY INCOME

REGION REGION

Fig. 6 Fig.
➢ Data Interpretation:

From the above graph (Fig. 6 l) we can see that in the Sub-
REGION
Urban areas, 45 peoples out of 76 (59.2%) are unhappy with
Fig. current
their 6n job/financial situation. While in urban area it is
around 45.9%.
Again need for supplementary source of income (Fig. 6m) is
higher in Sub-Urban areas, i.e. 52.6%, while in urban areas it
is 37.8%.
Further we can see that preference for supplementary source
of income as life insurance advisors is more in Sub-Urban
areas than urban areas, varying from 19.7% to 8.12%.
 CHAPTER-7
CONCLUSION PART

7.1 Conclusion:
It is believed that it is a tough task to find out a quality
prospect for insurance advisor’s recruitment, as every
individual has its limited contact base. We have seen in the
above analysis that with the help of references & market
survey tool an individual can enter into cold market easily,
and then extend up to no limit.

But it is a tremendous challenge to find out the potential

segment of people for recruitment. So, we have segmented
the whole market mainly on the basis of demographic
(occupation & age) and geographic segmentation (region),
with the help of market survey tool, to identify the potential
segment of people for recruitment and our exhaustive
 research in the field of recruitment in Life Insurance has
squeezed out some interesting trends which can be seen in
the above analysis.
The findings presented below will now bring the picture more
clearly in view about the above analysis and its outcome.

➢ Findings;

On the basis of occupation: Table -7A

Occupation Not happy with Need for Preference for
their current job/ supplementary supplementary
financial source of income. source of income
situation. (%) (%) (as a life insurance
agent). (%)
Professional 73.33% 26.67% 46.66%
financial
advisors
Salesperson 86.66% 86.66% 26.67%
Housewives 80% 80% 26.7%
Students 60% 60% 20%
Advocates 60% 60% 13.33%
Teachers 46.66% 46.66% 6.67%
Pvt. Service 53.33% 33.33% 0%
Govt. Service 46.66% 46.66% 0%
Businessmen 13.33% 13.33% 0%
Doctors 6.66% 6.66% 0%
From the above table we can conclude that professional
financial advisors, salesperson and housewives are the most
potential segments of people for recruitment followed by the
students, advocates & teachers.
• Though only 26.67% of professional financial advisers
say there is a need for supplementary source of income,
but 46.66% of professional financial advisers prefer to
become life insurance agent, because professional
financial advisers are the best person who can advise
people, related to their investment decisions.
• Again a salesperson is a another good segment of people
for targeting recruitment, because their need for income
is quite higher (86.66%) & even they are trained enough
in terms of sales.

• Apart from these two segments housewives is also a

good segment for targeting recruitment, because their
need & preference (as a life insurance agent) is too high
compare to the rest of segments, because women can
understand personal and family financial problems and
are able to interact on an emotional level.

• Further we can see that students is also a good segment

for recruitment, because their need for income is also
high & even 20% of students prefer life insurance agent
is the best way to supplements ones income, because
every students needs money for their personal expense.

• Advocates and teachers can also be a target segment for

recruitment, because their need for income is also quite
high & even 13.33% of advocates and 6.67% of teachers
prefer life insurance agent is the best way to
 supplements ones income, but comparatively these are
the less potential segments compare to other identified
segments.

• Businessmen & doctors are not a potential segment for

targeting recruitment, because their need for
supplementary source of income is very low & also most
of them are happy with their current job/financial
situation.

• Pvt. service holder & Govt. service holders are also not a
potential segment for targeting recruitment, though their
need for income is present , but they don’t prefer life
insurance agent is the best way to supplements ones
income, mainly because of ego problems & time
constraint.

On the basis of Age Group : Table-

Age Not happy with Need for Preference for
group their current job/ supplementary supplementary source of
s financial situation. source of income. income (as a life insurance
(%) (%) agent). (%)
18-25 64.3% 59.5% 14.2%
26-35 54.3% 39.1% 21.7%
36-45 37.5% 52.5% 12.5%
46-55 54.5% 0% 0%

From the above table we can conclude that people between

the age group of 18-25 & 26-35 are the most potential
segments for recruitment, followed by the age group of 36-
45.
 • 64.3% of People between the age group of 18-25 are
not happy with their current job/financial situation &
also need for supplementary source of income is
59.5%. In this group most of them are at struggling
stage of their life and are very energetic, so it can be
a target segment for recruitment.

• Again, people between the age group of 26-35 are a

target segment for recruitment because of their
increasing responsibility towards family.

• People between the age group of 36-45 is also a

good segment for recruitment, but comparatively
less than other identified segments because at this
stage of life most of them are settled & often their
child also grows up.

• People between the age group of 46-55 is not a

potential segment, though the 54.5% of people are
not happy with their current job/financial situation,
but their need and preference for supplementary
source of income is negligible because of their age
factor.

On the basis of Geographic Segmentation; Table –

Regio Not happy with Need for Preference for
n their current job/ supplementary supplementary source of
financial situation. source of income. income (as a life insurance
(%) (%) agent). (%)
Sub- 59.2% 52.6% 19.7%
Urban
Urban 45.9% 37.8% 8.12%
Thus from the above figures we can say that in Sub-Urban
areas are the most potential segment for recruitment than
the urban areas, because need for income is there, and again
there is a limited source of income opportunity.
Further we know that in the Sub-Urban & rural areas there is
tremendous potentiality for the business of insurance,
because of the less penetration of insurance.

7.2 Suggestions & Recommendations:

• Professional financial advisors like CAs, Tax consultant,
etc. is the most potential segment of people for
recruitment, BAs should target this segment of people to
get quality recruitment.

• Salesmen like Sahara agents, MR etc. is also a very good

segment of people for recruitment, and BAs should
target this segment of people to get quality and even in
quantity.

• Housewives between the age group of 35-50 can be a

target segment for recruitment, BAs should target this
segment of people to get leader.
• Students can be one of the target segment, BAs should
target this segment continuously, because students can
generally work for short term only.

• Teachers & advocates can be one of the potential

segments, for these BAs should target this segment by
conducting homogeneous group Career Orientation
Presentation (COP).

• Generally Govt.-service & Pvt.-service holders does not

prefers to become life insurance agent, but there is a
need for supplementary source of income is quite higher,
for targeting this segment of people BAs should give 1:1
COP.

• Doctors are not a target segment for recruitment.

• People between the age group of 18-25, 26-35, and 36-

45 are the most potential segment for recruitment.
• People between the age group of 46-55 can be a target
segment, though the preference to become a life
insurance agent is low, but need for income is quit
higher, to target this segment BAs should give effective
COP & make them realize that they are still young and
energetic, and can work effectively.
• Sub-Urban areas are the most potential segment for
recruitment than the urban areas, BAs should target
more & more on Sub-Urban to get quality recruitment.

• BSP model of the company is the best way to target the

Sub-Urban & Rural area.
 QUESTIONNAIRES
MARKET SURVEY AWARENESS REGARDING

SUPPLEMENTARY INCOME NEEDS

1. By how much population grown in the last two decades?

Around 15 Crores Around 20 Crores Around 35 Crores Around 40 Crores

2. In the last two decades, by how much has the workforce in the
private sector grown?
2 lakhs 5 lakhs 10 lakhs 15 lakhs

3. Approximately how many people are currently registered with

employment exchange in search of a job?
Around 1 Crores Around 2 Crores Around 3 Crores Around 4 Crores

4. In today’s scenario, supplementing your income is critical.

Which in your mind is a preferred opportunity to supplement
 one’s income?
Agent For Post Office Deposits Life Insurance Agent Multi-Level Marketing
Tuitions Part- Time Business Trading And Investment In Stocks.
5. What is your current occupation?
Professional Service (Pvt.) Service (Public) Self-Employed any other
(please specify)____________________________________________
6. Are you happy with your current occupation?
Yes No
7. Would you be interested in a source of supplementary income
that offers flexible working hours & unlimited earning
opportunities?
Yes No Maybe

YOUR PERSONAL DETAILS

Name:_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
____
Address: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
____
_________________________________
____
Age: _ _ _ _ _ Marital status:_ _ _ _ _ _ _ _ _ Occupation:_ _ _ _
______
Telephone:_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Mobile:_ _ _ _ _ _ _ _ _ _ _ _
_____
………………………………………………………………………
Tear away & hand over to respondent
as giveaway
………………………………

The need for supplement one’s income is ever

increasing.
For more information on how to supplement your income,
please contact:

Name & Tel. No.:

REFERENCES
8. WEBSITES REFERRED

www.tata-aig-life.com
www.irdaindia.org
www.thehindubusinessline.com
www.nurcmedianext.com

9. BOOK REFERRED
Managing life insurance By Shashidharan K. Kutty.
Books Published By Insurance Institute of India.
Kotler & Keller, Marketing Management, PHI, 13th Edition.
 Human Resource Management By K. Aswathappa; Publisher-
HPH, Tata McGraw-Hill Edition-5.
“ Services Marketing; LPE; Pearson Education; By Christopher H.
Lovelock, Jochen Wirtz.

10.MAGAZINE

Insurance World.
The Outlook Money.

11.TATA AIG LIFE’S MATERIAL

GLOSSARY
i. AML ---- Anti Money Laundering
ii. BA ---- Business Associate.

iii.BSP ---- Business Service Partner.

iv.COP ---- Career Orientation

Presentation.

v. FYP ---- First Year Premium.

vi.L1, L2, L3 ---- Level-1, Level-2, Level-3

Training.
vii. MBA ---- Managerial Business

Associate.

viii.MCG ---- Market Conduct Guidelines.

ix. NLAs ---- Newly Licensed Advisors.

x. PBA ---- Provisional Business

Associate.

xi. SBA ---- Senior Business Associate.

xii. TALIC ---- Tata AIG Life Insurance

Company Ltd.

xiii.ULIP ---- Unit Linked Insurance Plan.