bharti axa new

7/29/2019 Bharti Axa New

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CHAPTER-1

INTRODUCATION


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WHAT IS INSURANCE

The business of insurance is related to the protection of the ECONOMIC VALUES OF

ASSETS. Every asset has a value. The asset would have been created through the

efforts of the owner. The asset would have been created through the efforts of the

owner. The asset is valuable to the owner, because he expects to get some benefits form

it. It is a benefit because it meets some of his needs. The benefit may be an income or

in some other form. In the case of a factory or a cow, the product generated by it is sold

and income is generated. In the case of a motor car, it provides comfort and

convenience in transportation. There is no direct income. Both are assets and providebenefits.

Every asset is expected to last for a certain period of time during which it will provide

the benefits. After that, the benefit may not be available.

There is a life-time for a machine in factory or a cow or a motor car. None of them will

last for ever. The owner is aware of this and he can so manage his affairs that by the

end of that period or life-time, a substitute is made available. Thus he makes sure that

the benefit is not lost. However, the asset may get lost earlier. An accident or some

other unfortunate event may destroy it or make it incapable of giving the benefits. An

epidemic may kill the cow suddenly. In that case, the owner and those enjoying the

benefits therefore, would be deprived of the benefits. The planned substitute would not

have been ready. There is an adverse or unpleasant situation. Insurance is a mechanism

that helps to reduce the effects of such adverse situations. It promises to pay to the

owner or beneficiary of the asset, a certain sum if the loss occurs.


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HISTORY OF INSURANCE

Insurance has been known to exist in some form or other since 3000 BC. TheChinese traders, traveling treacherous river rapids would distribute their goods among

several vessels, so that the loss form any one vessel being lost, would be partial and

shared, and not total. The Babylonian traders would agree to pay additional sums to

lenders, as the price for writing off the loans, in case of the shipment being stolen. The

inhabitants of Rhodes adopted the principle of general average of general average,

whereby, if goods are shipped together, the owners would bear the losses in proportion,

if loss occurs, due to jettisoning during distress. {Captains of ships caught in storms,

would throw away some of the cargo to reduce the weight and restore balance. Such

throwing away is called jettisoning} The Greeks had started benevolent societies in the

late 7 th century AD, to take care of th

e funeral and families of members ho died. The great fire of London in 1666,inwhich more than 13000 house were lost, gave a boost to insurance and the first fire

insurance company, called the fire office, was started in 1680.

The origins of insurance business as in vogue at present, is traced to the LloydsCoffee House in London. Traders, who used to gather in the Lloyds coffee house in

London, agreed to share the losses to their goods while being carried by ships. The

losses used to occur because of pirates who robbed on the high seas of because of bad

weather spoiling the goods or sinking the ship. In India, insurance began in 1818 with

life insurance being transacted by an English company, the Oriental Life Insurance Co.

in 1870 in Mumbai. This was followed by the Bharat Insurance co. in 1896 in Delhi,

the Empire of India in 1897 in Mumbai, The United India in Chennai, the National, theNational Indian and Hindustan Cooperative in Kolkata.

Later, were established the cooperative Assurance in Lahore, the Bombay Life(originally called the swadeshi life), the India Mercantile, the new India and the Jupiter

in Mumbai and the Lakshmi in New Delhi. These were all Indian companies started as

a result of the swadeshi movement in the early 1900s. By the year 1956, when life

insurance business was nationalized and the life Insurance Corporation of India (LIC)

was formed on1st September 1956, there were 170 companies and 75 provident fund


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societies transacting life business in India. After the amendments to the relevant laws in

1999, the L.I.C. did not have the exclusive privilege of doing life insurance business in

India. By 31.8.2007, sixteen new life insurers had been registered and were transacting

life insurance business in India.


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BRIEF HISTORY OF INSURANCE SECTOR ININDIA

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.

The business of life insurance in India in its existing form started in India in the year

1818 with the establishment of the Oriental Life Insurance Company in Calcutta.

Some of the important milestones in the life insurance business in India are: 1912 -

The Indian Life Assurance Companies Act enacted as the first statute to regulate the

life insurance business.

1928 - The Indian Insurance Companies Act enacted to enable the government to

collect statistical information about both life and non-life insurance businesses.

1938 - Earlier legislation consolidated and amended to by the Insurance Act with the

objective of protecting the interests of the insuring public.

1956 - 245 Indian and foreign insurers and provident societies taken over by the central

government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956,

with a capital contribution of Rs. 5 crore from the Government of India.

The General insurance business in India, on the other hand, can trace its roots to the

Triton Insurance Company Ltd., the first general insurance company established in the

year 1850 in Calcutta by the British.


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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.

107 insurers amalgamated and grouped into four companies viz. the National Insurance

Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company

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


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Indian Insurance Industry:

Learn about Insurance may be described as a social device to reduce or eliminate risk

of life and property. Under the plan of insurance, a large number of people associate

themselves by sharing 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 insured against at a premium

commensurate with the risk involved.

Insurance is actually a contract between 2 parties whereby one party called insurer

undertakes in exchange for a fixed sum called premium to pay the other party happening

of a certain event.

Insurance is a contract whereby, in return for the payment of premium by the insured, the

insurers pay the financial losses suffered by the insured as a result of the occurrence of

unforeseen events.

With the help of Insurance, large number of people exposed to a similar risk makes

contributions to a common fund out of which the losses suffered by the unfortunate few,

due to accidental events, are made good.


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Functions of Insurance

The functions of Insurance can be bifurcated into two parts:

Primary Functions

Secondary Functions

Other 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 the risk,

but can certainly provide for the losses of risk. Insurance is actually a protection against

economic loss, by sharing the risk with others.

Collective bearing of risk - Insurance is a device to share the financial loss of few among

many others. Insurance is a mean by which few losses are shared among larger number of

people. All the insured contribute the premiums towards a fund and out of which the

persons exposed to a particular risk is paid.

Assessment of risk - Insurance determines the probable volume of risk by evaluating

various factors that give rise to risk. Risk is the basis for determining the premium rate

also

Provide Certainty - Insurance is a device, which helps to change from uncertainty to

certainty. Insurance is device whereby the uncertain risks may be made more certain.


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The secondary functions of insurance include the following:

Prevention of Losses - Insurance cautions individuals and businessmen to adopt suitable

device to prevent unfortunate consequences of risk by observing safety instructions;installation of automatic sparkler or alarm systems, etc. Prevention of losses cause lesser

payment to the assured by the insurer and this will encourage for more savings by way of

premium. Reduced rate of premiums stimulate for more business and better protection to

the insured.

Small capital to cover larger risks - Insurance relieves the businessmen from security

investments, by paying small amount of premium against larger risks and uncertainty.

Contributes towards the development of larger industries - Insurance provides

development opportunity to those larger industries having more risks in their setting up.

Even the financial institutions may be prepared to give credit to sick industrial units

which have insured their assets including plant and machinery.


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The other functions of insurance include the following:

Means of savings and investment - Insurance serves as savings and investment, insurance

is a compulsory way of savings and it restricts the unnecessary expenses by the insured's

For the purpose of availing income-tax exemptions also, people invest in insurance.

Source of earning foreign exchange - Insurance is an international business. The country

can earn foreign 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 marks a significant change and growth of 'India Insurance'

industry scenario. Monopoly of Public Sector Insurance company marks an end and

Private companies makes inroad. Foreign companies, both Life and General flocked,

collaborated and helped astronomical growth of 'Insurance Industry in India'.

'India Insurance' growth was long overdue. Within 1st 12 months of liberation of 'IndianInsurance Industry' 10 licenses for selling life insurance products and 6 licenses for

selling non-life products were issued to private companies. The Public sector giant LIC

started losing its market share at the cost of stupendous growth of private players. Now

'India Insurance' industry has more than a dozen private life insurance players and 9

private general insurance companies. Aggressive and penetrative marketing strategy

coupled with wide product bandwidth was an instant success among the ignorant masses.

Most of the private companies registered more than 100% growth till then and are still

continuing with such monstrous growth figures. Although, 'Insurance in India' is not

regarded as a basic need but it is getting popular among semi urban to rural masses. Top

rank private companies like ICICI Prudential Life Insurance, Tata AIG, Bajaj Allianz etc

are aggressively researching and innovating products for huge untapped rural 'India


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Insurance' market. Collaboration with micro finance companies, post offices, rural banks

and village management authorities for selling insurance is doing wonders.

Life insurance products cover risk for the insurer against eventualities like death

or disability. Non-life insurance products cover risks against natural calamities, burglary,

etc. They are not as popular as life products in the ' Insurance India's' portfolio. Until very

recently it had only corporate buyers, but with natural disasters like, earth quakes,

tsunamis, storms and floods becoming more frequent and damaging there has been a

sudden spurt in sales of general insurance amongst individuals. Consumerism of life style

goods and modern amenities has also contributed to its growth. With more awareness and

wide bandwidth of insurance product portfolio the growth for 'India Insurance' story will

only get more competitive and more affordable to all sections of Indian society.

Present Scenario

The Government of India liberalized the insurance sector in March 2000 with the passage

of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry

restrictions for private players and allowing foreign players to enter the market with some

limits on direct foreign ownership. Under the current guidelines, there is a 26 percentequity cap for foreign partners in an insurance company. There is a proposal to increase

this limit to 49 percent.

The opening up of the sector is likely to lead to greater spread and deepening of insurance

in India and this may also include restructuring and revitalizing of the public sector

companies. In the private sector 12 life insurance and 8 general insurance companies

have been registered. A host of private Insurance companies operating in both life and

non-life segments have started selling their insurance policies since 2001.


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Non-Life Insurance Market

In December 2000, the GIC subsidiaries were restructured as independent insurance

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.

Presently there are 12 general insurance companies with 4 public sector

companies and 8 private insurers. Although the public sector companies still dominate

the general insurance business, the private players are slowly gaining a foothold.

According to estimates, private insurance companies have a 10 percent share of the

market, up from 4 percent in 2001. In the first half of 2002, the private companies booked

premiums worth Rs 6.34 billion. Most of the 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

fraught with 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 the

financial institutions are not willing to commit funds to the sector, especially because the

financing 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 of long

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 require

insurance companies to invest not less than 15 percent of their funds in infrastructure and

social sectors. International Insurance companies also invest their funds in such projects.


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Insurance costs constitute roughly around 1.2- 2 percent of the total project costs.

Under the existing norms, insurance premium payments are treated as part of the fixed

costs. Consequently they are treated as pass-through costs for tariff calculations.

Premium rates of most general insurance policies come under the purview of the

government appointed Tariff Advisory Committee. For Projects costing up to Rs 1

Billion, the Tariff Advisory Committee sets the premium rates, for Projects between Rs 1

billion and Rs 15 billion, the rates are set in keeping with the committee's guidelines; 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 the lead, shouldering about 40-50 per cent of the risk and receiving a proportionatepercentage of the premium. The other companies share the remaining risk and premium.

The policies are renewed usually on an annual basis through the invitation of bids.

Of late, with IPP projects fizzling out, the insurance companies are turning once

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) assumed by

them, which can be safely borne from their own funds. The balance risk is re-insured

with other insurers. In effect, therefore, re-insurance is insurer's insurance. It forms the

backbone of the insurance business. It helps to provide a better spread of risk in the

international market, allows primary insurers to accept risks beyond their capacity, settle

accumulated losses arising from catastrophic events and still maintain their financial

stability.


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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 of their

reinsurance business to GIC. The aim is to ensure that GIC's role as the national reinsurer

remains unhindered. However, GIC reinsures the amount further with international

companies such as Swissre (Switzerland), Munichre (Germany), and Royale (UK).

Reinsurance premiums have seen an exorbitant increase in recent years, following the

rise in threat perceptions globally.

Life Insurance Market

The Life Insurance market in India is an underdeveloped market that was only

tapped by the state owned LIC till the entry of private insurers. The penetration of life

insurance products was 19 percent of the total 400 million of the insurable population.

The state owned LIC sold insurance as a tax instrument, not as a product giving

protection. Most customers were underinsured with no flexibility or transparency in the

products. With the entry of the private insurers the rules of the 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

private players has tripled to Rs 1000 crore in 2002- 03 over last year. Meanwhile, stateowned LIC's new premium business has fallen.

Innovative products, smart marketing and aggressive distribution. That's the triple

whammy combination that has enabled fledgling private insurance companies to sign up

Indian customers faster than anyone ever expected. Indians, who have always seen life

insurance as a tax saving device, are now suddenly turning to the private sector and

snapping up the new innovative products on offer.

The growing popularity of the private insurers shows in other ways. They are

coining 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 annuity or

pension products business, the private insurers have already wrested over 33 percent of

the market. And in the popular unit-linked insurance schemes they have a virtual

monopoly, with over 90 percent of the customers.

The private insurers also seem to be scoring big in other ways- they are

persuading people to take out bigger policies. For instance, the average size of a life

insurance policy before privatization was around Rs 50,000. That has risen to about Rs

80,000. But the private insurers are ahead in this game and the average size of their

policies is around Rs 1.1 lakh to Rs 1.2 lakh- way bigger than 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. But a rejuvenated LIC is also trying tofight back to woo new customers.


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THE INSURANCE REGULATORY AND

DEVELOPMENT AUTHORITY (IRDA)

Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament

in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has

fastidiously stuck to its schedule of framing regulations and registering the private sector

insurance companies. The other decisions taken simultaneously to provide the supporting

systems to theinsurance sector and in particular the life insurance companies were the launch

of the IRDAs online service for issue and renewal of licenses to agents. The approval of

institutions for imparting training to agents has also ensured that the insurance companieswould have a trained workforce of insurance agents in place to selltheir products.

Since being set up as an independent statutory body the IRDA has put in a framework of

globally compatible regulations. In the private sector 12 life insurance and 6 general

insurance companies have been registered.


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INSURANCE COMPANIES

IRDA has so far granted registration to 12 private life insurance companies and 9 general

insurance companies. If the existing public sector insurance companies are included,

there are currently 13 insurance companies in the life side and 13 companies operating ingeneral insurance business. General Insurance Corporation has been approved as the

"Indian reinsurer" for underwriting only reinsurance business. Particulars of the life

insurance companies and general insurance companies including 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
http://www.licindia.com/http://www.licindia.com/http://www.allianzbajaj.co.in/http://www.allianzbajaj.co.in/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.ingvysayalife.com/http://www.iciciprulife.com/http://www.hdfcinsurance.com/http://www.birlasunlife.com/http://www.allianzbajaj.co.in/http://www.licindia.com/


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COMPANY PROFILE


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COMPANY PROFILE OF BHARTI AXA

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

business groups with interests in telecom, agri business and retail, and AXA, world leader

in financial protection and wealth management. The joint venture company has a 74%

stake from Bharti and 26% stake of AXA.

The company was incorporated on 13th July 2007. Headquartered in Bangalore, the

company currently has 30 branches across India. With a vision to become the leader and

preferred company 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 insurance needs. The company launched national operations in December

2006. Today, we have over 5200 employees across over 12 states in the country. Our

business philosophy is built around the promise of making people "Life Confident". The

company will leverage the Bharti Groups large customer pool and develop a strong multi

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 at Bharti AXA General Insurance consists of experienced leaders who are passionate

about their companys 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 our presence across the country to cater to your insurance and wealth

management needs with our product and service offerings, we continue to bring 'life

confidence' to customers spread across India. Whatever your plans in life, you can be

confident that Bharti AXA Life will offer the right financial solutions to help you achieve

them.


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

life insurance company in India. This vision extends to our recruitment philosophy 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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Vision

To be a leader and the preferred company for

financial protection and wealth management in India

.

professionalism

Team Spirit Innovation

values

IntegrityPragmatism


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Strategy

To achieve a top 5 market position in India through a multi-distribution, multi-product platform

To adapt AXA's best practice blueprints as a sound platform for profitable growth

To leverage Bharti's local knowledge, infrastructure and customer base

To deliver high levels of shareholder return

To build long term value with our business partners by enhancing the proposition to theircustomers

To be the employer of choice to attract and retain the best talent in India

To be recognised as being close and qualified by our customers


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Bharti Group

Bharti Airtel Ltd

Bharti Airtel Ltd is one of Asia's leading telecommunications service provider. The Company is Indias

largest integrated telecom company in terms of customer base and offers Mobile Services, Fixed Line

services, Broadband & IPTV, DTH, Long Distance and Enterprise services. Airtel also offers mobile

services in Sri Lanka on a state-of-the art 3.5 G network.

Bharti TeleTech Ltd

Bharti Teletech is Indias leading telecom & allied products company. It is one of the largest

manufacturers of landline telephones in the world. With a strong distribution network across the country,

the company is also the primary distributor of IT and Telecom products from interntional brands such as

Motorola, Blackberry, Thomson, Polycom, Transcend, and Logitech.

Telecom Seychelles Ltd

A subsidiary of Bharti, Telecom Seychelles Ltd provides comprehensive telecom services including 3G

mobile services in Seychelles, under the Airtel brand.
http://www.airtel.in/http://www.bharti-teletech.net/http://www.airtel.sc/http://www.airtel.sc/http://www.bharti-teletech.net/http://www.airtel.in/http://www.airtel.sc/http://www.bharti-teletech.net/http://www.airtel.in/http://www.airtel.sc/http://www.bharti-teletech.net/http://www.airtel.in/http://www.airtel.sc/http://www.bharti-teletech.net/http://www.airtel.in/


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Comviva Technologies Ltd

Comviva is the leading provider of integrated VAS solutions for mobile operators in emerging markets.

Among the top 3 global providers of integrated VAS solutions in rapidly growing markets, Comviva has

deployed solutions for over 100 mobile operator customers in over 80 countries worldwide.

FieldFresh Foods Pvt. Ltd.

FieldFresh Foods Pvt. Ltd., is a venture between Bharti Enterprises and Del Monte Pacific Limited, to

offer fresh and processed fruits and vegetables in the domestic as well as international markets, including

Europe and the Middle East.

Bharti Retail Pvt Ltd

Bharti Retail is a wholly owned subsidiary of Bharti Enterprises. Bharti Retail operates a chain of multipl

format stores that offer consumers affordable prices, great quality and wider choice. The companys

neighbourhood format stores operate under the "Easyday" brand and the compact hypermarket format

under the Easyday market brand.

Bharti AXA General Insurance Company

Bharti AXA General Insurance is a joint venture between Bharti Enterprises and AXA, world leader in

financial protection and wealth management. The company was incorporated in July 2007 and offers a fu

suite of general insurance solutions to meet the needs of businesses and individuals alike.
http://www.bhartitelesoft.com/http://www.fieldfreshfoods.in/http://bharti.com/ourcompanies.html#bhartiretailhttp://www.bharti-axagi.co.in/http://www.bharti-axagi.co.in/http://bharti.com/ourcompanies.htmlhttp://www.fieldfreshfoods.in/http://www.bhartitelesoft.com/http://www.bharti-axagi.co.in/http://bharti.com/ourcompanies.htmlhttp://www.fieldfreshfoods.in/http://www.bhartitelesoft.com/http://www.bharti-axagi.co.in/http://bharti.com/ourcompanies.htmlhttp://www.fieldfreshfoods.in/http://www.bhartitelesoft.com/http://www.bharti-axagi.co.in/http://bharti.com/ourcompanies.htmlhttp://www.fieldfreshfoods.in/http://www.bhartitelesoft.com/http://www.bharti-axagi.co.in/http://bharti.com/ourcompanies.html#bhartiretailhttp://www.fieldfreshfoods.in/http://www.bhartitelesoft.com/


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Bharti AXA Life Insurance Company

Bharti AXA Life Insurance Company Ltd is a joint venture between Bharti Enterprises and AXA, world

leader in financial protection and wealth management. The company offers a range of life insurance and

wealth management products with an endeavour to help customers lead a confident life.

Bharti AXA Investment Managers Pvt. Ltd.

Bharti AXA Investment Managers Pvt. Ltd., an asset management company in India, is a joint venture

between Bharti Enterprises, AXA Investment Managers (AXA IM) and AXA Asia Pacific Holdings

(AXA APH).

Centum Learning Limited

Centum Learning Limited provides end-to-end learning and skill-building solutions to several large

corporates. It provides solutions that impact business performance through enhanced employee

productivity, customer profitability and effective talent transformation.

Jersey Airtel Ltd

Jersey Airtel, a subsidiary of Bharti, offers world-class mobile services in Jersey (Channel Islands) over it

full 2G, 3G and HSDPA enhanced network. The Company brings market-leading products and services to

its customers under Airtel-Vodafone brand.
http://www.bharti.com/http://www.bhartiaxa-im.com/http://www.bhartiresources.com/http://www.bharti.com/http://www.bharti.com/http://www.bhartiresources.com/http://www.bhartiaxa-im.com/http://www.bharti.com/http://www.bharti.com/http://www.bhartiresources.com/http://www.bhartiaxa-im.com/http://www.bharti.com/http://www.bharti.com/http://www.bhartiresources.com/http://www.bhartiaxa-im.com/http://www.bharti.com/http://www.bharti.com/http://www.bhartiresources.com/http://www.bhartiaxa-im.com/http://www.bharti.com/http://www.bharti.com/http://www.bhartiresources.com/http://www.bhartiaxa-im.com/http://www.bharti.com/


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Bharti Foundation

Bharti Foundation was set up in 2000, with the vision, To help underprivileged children and young

people of our country realize their potential. It aims to create and support programs that bring about

sustainable changes through education and the use of technology and information.

Bharti Realty

Bharti Realty Limited is a young, vibrant and dynamic realty company with expanding interests in

commercial, retail and residential real estate. Bharti Realty aims to be amongst the most admired real

estate players in India and aspires to attain highest degree of customer trust through superior product

design and maintaining an uncompromising stand towards environmental responsibility, ethics and safety

Bharti Infratel

Bharti Infratel, a wholly owned subsidiary of Bharti Airtel, provides passive infrastructure services on a

non-discriminatory basis to all telecom operators in India. Bharti Infratel also holds approximately 42%

stake in Indus Towers, a joint venture between Bharti, Vodafone and Idea to offer passive infrastructure

services.
http://www.bhartifoundation.org/http://www.bhartirealty.com/https://www.bharti-infratel.com/https://www.bharti-infratel.com/http://www.bhartirealty.com/http://www.bhartifoundation.org/https://www.bharti-infratel.com/http://www.bhartirealty.com/http://www.bhartifoundation.org/https://www.bharti-infratel.com/http://www.bhartirealty.com/http://www.bhartifoundation.org/https://www.bharti-infratel.com/http://www.bhartirealty.com/http://www.bhartifoundation.org/


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Bharti Enterprises Bharti Airtel Ltd:

Bharti Airtel Ltd is Indias leading provider of telecommunications service. The company has 4 distinc

Business divisions- mobile and telephone services, broadband services, long distance services an

enterprise services,

Bharti Teletech Ltd

Bharti Teletech Ltd manufactures and exports world-class telecom equipment under the brand Beetel.

Telecom Seychelles Ltd

Telecom Seychelles ltd provides telecom services in Seychelles, under the brand Airtel.

Bharti AXA Life Insurance

Bharti AXA Life Insurance is a joint venture between Bharti, one of Indias leading business groups wit

interests in telecom, agri business and retail, and AXA, world leader in financial protection and wealt

management. The joint venture company has a 74% stake from Bharti and 26%stake of AXA.

Bharti Telesoft Ltd

Bharti Telesoft Ltd delivers best-in-class,

Revenue-critical Vas products and service to telecom carriers,

Tele Tech Service Ltd

Tele Tech Service (India) Ltd is Joint venture with Tele Tech Inc., U.S.A. It offers a range of Custome

Management Services.

Field Fresh Foods Pvt Ltd

Field Fresh Foods Pvt Ltd is Bhartis Venture with EL Rothschild Group owned ELRO holding India Ltd

to export fresh Agricltural products exclusively to markets in Europe and USA.


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AXAAXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically

with major operations in Western Europe, North America and the Asia/Pacific area. AXA had Euro 1,31

billion in assets under management as of December 31, 2006. For full year 2006, IFRS revenues amounte

to Euro 79 billion, IFRS underlying earnings amounted to Euro 4,010 million and IFRS adjusted earning

to Euro 5,140 million.

The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. Th

AXA American Depository Share is also listed on the NYSE under the ticker symbol AXA.

AXA Asia Pacific HoldingsAXA Asia Pacific Holdings Ltd (AXA APH) is listed on the Australian stock exchange and is 52.3%

owned by AXA SA. AXA APH is responsible for AXA SAs life insurance and wealth managemen

businesses in the Asia-Pacific region. It has operations in Australia, New Zealand, Hong Kong, Singapore

Indonesia, Philippines, Thailand, China, India and Malaysia. AXA APH had A$106.4 billion in total fund

under management and administration at 30 June 2007 and reported a profit after tax before non-recurrin

items of A$374.0 million for the six months ended 30 June 2007.


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THE JOINT VENTURE OF BHARTIAND AXA

BHARTI

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

business, insurance and retail. Bharti has been a pioneering force in the telecom sector

with many firsts and innovations to its credit. Bharti Airtel Limited, a group company, is

one of Indias leading private sector providers of telecommunications services with an

aggregate of 60 million customers, spanning mobile, fixed line, broadband and enterprise

services. Bharti Airtel was ranked amongst the best performing companies in the world in

the BusinessWeek 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 - for global distribution of fresh fruits and vegetables.

Bharti also has a joint venture - Bharti AXA Life Insurance Company Ltd. - with AXA,


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world leader in financial protection and wealth management. Bharti has recently forayed

into the retail business under a company called Bharti Retail Pvt. Ltd. It also has a joint

venture - Bharti Wal-Mart Private Limited - with Wal-Mart, for wholesale cash-and-

carry and back-end supply chain management operations.

AXA Group

AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse

geographically, with major operations in Western Europe, North America and the

Asia/Pacific area. AXA had Euro 1,315 billion in assets under management as of

December 31, 2006. For full year 2006, IFRS revenues amounted to Euro 79 billion,

IFRS underlying earnings amounted to Euro 4,010 million and IFRS adjusted earnings to

Euro 5,140 million.

The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock

Exchange. The AXA American Depository Share is also listed on the NYSE under the

ticker symbol AXA.

A XA Asia Pacific Holdings

AXA Asia Pacific Holdings Ltd (AXA APH) is listed on the Australian stock exchange

and is 52.3% owned by AXA SA. AXA APH is responsible for AXA SA s life insurance

and wealth management businesses in the Asia-Pacific region. It has operations in

Australia, New Zealand, Hong Kong, Singapore, Indonesia, Philippines, Thailand, China,

India and Malaysia. AXA APH had a$106.4 billion in total funds under management and

administration at 30 June 2007 and reported a profit after tax before non-recurring items

of A$374.0 million for the six months ended 30 June 2007.


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bhartiBharti Resources

B harti Foundation


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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 efficient and

profitable growth

To leverage Bharti's local knowledge, infrastructure and customer base

To deliver high levels of shareholder return

To build long term value with our business partners by enhancing the proposition

to their customers

To be the employer of choice to attract and retain the best talent in India

To be recognised as being close and qualified by our customers.


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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 the mass

and mass affluent

Global scale providing cost effective and speedy re-use of systems, products and

business capability

Strong AXA and Bharti brands which can be leveraged to attract and retain a high

quality management team


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Glenn Williams is the Chief Executive Officer and Managing Director for Bharti AXA

Life Insurance Co. Ltd. Prior to this, he was the Regional General Manager, Corporate

Development and Strategy for AXA Asia Life.

In this position, Mr. Williams worked with AXA Asia Life's senior management to

expand operations across the region in markets including Hong Kong, China, India,

Indonesia, Malaysia, Singapore, Thailand and the Philippines.

Mr. Williams has been with AXA since 2002 and has held key positions in Hong Kong

and the Philippines. Mr. Williams has over 15 years of experience in the insurance

industry, particularly in the areas of product & pricing actuary, operations and finance. In

2006, Mr. Williams led AXA Asia Life's successful integration of MLC and Winterthur.

Prior to joining AXA, Mr. Williams was Marketing Actuary with Swiss Reinsurance

Company in Hong Kong. Mr Williams graduated with a B.Sc (Honor) from

Loughborough University, UK and has been a fellow of the Institute of Actuaries (UK)

since 1998.


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Human Resources at Bharti AXA Life Insurance Company. He brings to the business

over 15 years of HR experience in diverse fields spanning financial services, information

technology and manufacturing. He specialises in building large scale businesses right

from their project days.

Before joining Bharti AXA Life, Ranjan was with JPMorgan Chase Bank, Singapore as

Vice President and Regional HR Manager - Technology & Operations (APAC) from May

2005, after serving the office of Vice President and Head - HR for the Global Service

Centre of the Bank in India for about 3 years. Between June 1997 and May 2002, Ranjan

was with GE Capital as Vice President and Head - HR for the Credit Card business,

where he was a part of the Project Team responsible for creating the business in India. He

also has an entrepreneurial venture to his credit with Bangalore-based Team Excel, which

specialised in recruitment and HR consulting. His first assignment was with Tata Steel as

Sr. Personnel Officer from 1991 to 1994, followed by Microland Ltd. as Manager - HRfor two years.

Ranjan is a BA (Hons) from St Xavier's College, Kolkata and holds a Post Graduate

Diploma in Personnel Management from XLRI.


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Sushanto MukherjeeChief Distribution Officer

Mukherjee is the Chief Distribution Officer for Bharti AXA Life Insurance

Company Ltd. Prior to this; he was Director & Head Partnership Distribution & Group

Business at Max New York Life Insurance Co. Ltd.

He started his career with ITC-Welcomegroup hotels division in 1989. He has

subsequently worked in various reputed organizations such as Xerox, Reliance Infocomm

& Tata AIG in senior positions managing sales at Zonal & National Levels.Sushanto has

over 21 years of experience across Insurance, Telecom, Hospitality and Office

Automation.

He has a strong background in developing & managing partnership channels in Life

Insurance, managing large teams in Retail Distribution and effectively leading direct

sales teams in the Corporate Segment. He is an MBA from Cardiff Business School

United Kingdom.


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V Srinivasan is currently the Chief Financial Officer of Bharti AXA Life Insurance

Company. He started his career as a Chartered Accountant in 1989 and over the past two

decades has emerged as a stalwart in the financial sector. With over 8 years of rich

experience in the Life Insurance industry, today, he stands as a storehouse of financial

knowledge and expertise. Mark Meehan is currently the Chief Marketing and

Operations Officer for Bharti AXA Life Insurance Company Ltd.

Marks previous role in AXA was that of CEO of Tynan Mackenzie P/L, a professional

investment services company. His role in Bharti AXA Life as CMOO includes

Marketing,Product Development, Customer Service, Underwriting, Claims, Channel &

Distribution Operations, Information Technology and Systems, Six Sigma, Business

Continuity and Client Persistency Management.

Mark Gerard Meehan

Chief Marketing and Operations

Officer (CMOO)


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Meaning of Marketing

Finding the right people is a make-or-break factor for success in business today.

Recruiting the top talent for a job takes time and you have to attract quality candidateswho have the knowledge and skills needed to help your company grow.

The fact is, your success with recruitment depends on how well you prepare your job ad,

and use source of recruitment, and your interviewing skills.

Prepare a job ad that works to start, you want to be sure that your potential candidate

truly understands the job. The clearer you are with the task description, working

conditions and advantages, the less time you will waste examining and rejecting

applications

The essentials of any job description are:

A brief description of your company Detailed outline of the tasks involved Qualifications and experience required Equipment and resources used to do the work

Skills required using them.

However, you should also include work benefits (e.g., vacation, travel and perks), general

working conditions (e.g., scheduling, outside work) and the specific traits required (e.g.,

teambuilding and communications skills). Ultimately, you want to be perceived as an

attractive employer in a competitive market.

Find the right recruitment vehicle choose the vehicle that best works for your company,

depending on your budget and resources.

Word of mouth, or simply telling your employees, friends and colleagues about a job

opening, is a less expensive strategy but generates fewer candidates. The advantage is

that you already know something about your recruiters and their skills, knowledge and

achievements. This is a preferred method with companies that have a finder's fee program

for their employees.

Advertising is a toss of the dice. If it goes well, it can help you find ideal candidates in a


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regional, national, or international pool. If not, it's a costly investment yielding few

results. Make sure to factor in the time it takes to go through

a large number of resumes.

Employment agencies cost more but generally provide a good range of candidates. The

employment advisors look at your needs, screen a number of candidates, and only send

you the applications that meet your requirements. Bear in mind that the largest

employment agencies do not necessarily offer the best choice of candidates. There are

numerous agencies that specialize in recruitment in specific sectors.

Marketing online such as monster.ca, workopolis.com, and jobboom.com. These can

provide inexpensive, worldwide access to employees. In fact, 65% of job seekers now

have access to these types of services.

Using the Internet for recruiting usually involves regular visits to specialized recruitment

sites, joining newsgroups, and posting your job openings on recruitment sites, electronic

publications and on your own Web site.
http://www.monster.ca/http://www.monster.ca/http://www.workopolis.com/http://www.workopolis.com/http://www.jobboom.com/http://www.jobboom.com/http://www.jobboom.com/http://www.workopolis.com/http://www.monster.ca/


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Career with Bharti AXA

Opportunity to earn unlimited income. Career Growth. Be your own boss. High quality training & Support to improve productivity. Compensation amongst the best. Club member benefits. Payout structured to facilitate your cash flows better. Best in class & competitive products. Pension for life.

Controlled MarketNatural market

Your family Your friends People at job/business Neighbors

Extended Natural market

The following are sources of names: People know through children. People know through spouse. People know through hobbies/ games. People known through social groups People known through public service. People you do business with. Friends of friends.


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CENTRE OF INFLUNCE

People with influence and prestige, other member of society believe and faith onthem.

People who have a big circle of relationships: like secretary in societies, president ofan association.

People who are known to you and are wiling to help you. People who have contacts with the class of people you want to deals with. People who have faith in your leadership. A centre of influence is a person who is in contact with many people through social,

political, religious or business angulations

Usually a respected individual with influence over the people with he/she is incontact.

Uncontrolled Sources

Job Ads/Inserts

This program should be on regular long range basis. Example: Navajeevan sharma who is a relationship officer in bhrati AXA Life

Insurance company put an ad in the newspaper, in which he called for the reader to

phone him during a specified 2 to 4 hours period on Monday or Sunday morning From those who called Navjeevan Sharma was able to eliminate more misfits (who

are not qualified) and arrange for two to six personal visits.

Placement consultants

MOA can recruit a placement consultant or register him self in internet job search sites to

get list of prospects.

Seminars/job fairs

Manager of agency can also organized seminars at

management institutes and colleges.

OR

Bharti AXA life insurance company participate in the job fairs and then short list

prospects and then look for further opportunities for them.


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Cold Prospecting

MOA can use the telephone directory. MOA and telecaller can use the directories of various business and social

organizations.

Database

Primary data: Direct collection of data of from the source of information, technology includingpersonal interviewing, survey etc.

Secondary Data: Indirect collection of data from sources canbe purchased from the open market andvarious kind of database are available such as telephone databases of various surveys.


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CHAPTER-3

INSURANCE PRODUCTS OF BHARTI AXA


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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 most

suitable plan from our host of plans and make buying life insurance simple and

convenient. Each of the plans, right 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.

Protection

Protect your loved ones against financial contingencies at nominal costs


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

uncertain and unforeseen contingencies can meet you anytime. 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.

BhartiAXALifeEliteSecure

BhartiAXALifeSecureConfident

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 protection. Our

life insurance coverage plans include 'traditional' plans that give guaranteed money on

maturity. While, we also offer market-linked plans that give you the benefit of good

market performance to maximise your savings.

BhartiAXALifeChildPlans

BhartiAXALifeGuaranteedPlans
http://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspxhttp://www.bharti-axalife.com/Insurance/children-plans.aspx


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Make the golden years of your life truly comfortable.

Retirement plans are the best way to systematically plan for your golden years. Our

flexible retirement plans ensure you live your dream retirement. By investing in theselong-term plans by paying life insurance premium, you can earn a regular income even

after you've stopped working. Without having to depend on anyone else or worry about

rising costs, you can go ahead and lead a comfortable retirement.

BhartiAXALifeDreamLifePensionPLUS

BhartiAXALifeFutureSecurePension

BhartiAXALifeFutureAdvantagePension

Health

bliarti

Retirement

Investments for your good health
http://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Future-Secure-Pension.aspxhttp://www.bharti-axalife.com/life-insurance-policies/Dream-Life-Pension-PLUS.aspx


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Given the fast pace of our lives, we always run the risk of acquiring lifestyle diseases - be

it high blood pressure or various heart diseases. Add to this the rising medical costs

because of which, we end up spending increasingly large amounts of money. Bharti AXA

Life offers you Health Plans that ensure freedom from stress when it comes to your

health expenses and let you enjoy your life without any worries.

With Bharti AXA Life insurance products, provide financial security and protection to

your loved ones. Simple, affordable plans to safeguard your family from life's

uncertainties.

BhartiAXALifeShield

BhartiAXALifeSanjeevani

Life Shield, a single premium group term life insurance product, is a simple, affordable

life insurance solution that financially secures the family of the group member by

providing a life insurance cover.
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Sanjeevani, a single premium group term life insurance product provides financial

security and protection to your loved ones. It is a simple, affordable plan to safeguard

your family from life's uncertainties.

With Bharti AXA Life Credit Protection Plans you can ensure that your family enjoys a

good lifestyle and at the same time is protected from the uncertainties of life.

BhartiAXALifeCreditSecure

BhartiAXALifeMortgageCreditShield

BhartiAXALifeCreditShield

Bharti AXA Life Credit Secure is a single premium group reducing term life insurance

product, that makes sure your family is not burdened with your loan liability in your

absence. Now you can ensure that your family is protected from the uncertainties of life

bliarti
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even as they enjoy a good lifestyle. In case of an eventuality, Bharti AXA Life will pay

an amount that can used to settle the outstanding loan amount.

Presenting you with Credit Shield from Bharti AXA Life, a group product - which

protects the family of the borrower in the event of death by paying an amount to settle the

outstanding loan.


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Products of Bharti-AXA Life Insurance

Bright stars

This is a regular premium unit-linked insurance policy, which, which offers you thetwin benefits of protecting your loved ones and creating wealth for them over the

desired period.

As a caring parent, you want only the best for your child. As your child grows, hisaspirations will grow too and so will your responsibilities. Whether its higher studies

abroad, a grand wedding or a comfortable home you can now ensure that your child

is always one step ahead

You can fulfill all the dreams you have for your child, and give him what he deserves.A bright future!

The plan also offers the flexibility to make modifications, depending on the changingneeds of your child. As his dreams grow, the plan will grow too so financial hurdles

will never come in the way of his growing dreams! With Bharti AXA Life Bright

Stars,

Parameter Eligibility

Minimum age at entry 18 years

Maximum age at entry 70 years minus policy benefit period chosen.

E.G: for policy benefit period of 17 years, the maximum age

at entry is 53 years.

Maximum age at maturity 70 years

Minimum premium Rs.15,000 p.a. for annual & semi-annual modes Rs18,000 p.a

for monthly mode

Premium modes Annual, semi-annual and monthly

Policy benefit periods available 7 years,10 years,15 years, 17 years and 20 years

Minimum top-up premium Rs. 2,500


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Spot suraksha

Introduction

Spot Suraksha is a unit liked insurance product, which offers you an instant insurance

protection and benefit of wealth creation in the long-term.

Main Advantages of Spot Suraksha

Understand the product:(Read and understand the product brochure)Answering the simple health related questions, Sign up the simple application form,

submit photograph, proofs for identity, address and age.

A cover note is issued to policy holder and insurance cover starts instantly.100% allocation of premium- Full allocation of premium to the Investment Fund,

according to policy holder choice from 2nd year onwards.

A guaranteed special addition equal to 130% of annualized premium in the first policyyear is added in the policy fund at maturity or death, which is earlier.

PARAMETER ELIGIBILITY


Maximum age at entry 55 years

Maximum age at maturity 70 years

Minimum premium Rs. 12,000 p.a

Premium Modes Annual, Semi-annual and monthly

Policy term 15 years

Minimum top up premium Rs. 5,000


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Dream life pension

Let you live your retired life king-size

This plan is made for old persons and to make them self independent and live a life of

dignity and self-respect. Today you are busy climbing the ladder of success and realizing

your dreams. Today, time is with you. Just take a moment and think.

The bharti AXA Life Dream life pension gives you:

A post retirement income for life.

Policy holder choose the age at which he/she would like to retire (vesting age), whichdetermines your premium paying term. Alternatively you can opt for single premium

payment.




Minimum age at vesting

Maximum age at vesting

45 years

80 years

Premium modes Single pay, yearly, Half-yearly

,Quarterly and monthly

Minimum premium Annual Regular Premium:

Rs.12, 000p.a.

Minimum policy term 10 years

Minimum top-up premium Rs.2, 500 and no maximum limit on top-

up premium and top up allowed only

after first policy year.


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MERIT PLUS

This is a regular premium unit-linked insurance policy which offers you the twin benefits

of protection against financial loss in the unfortunate event of the death and helping you

to create wealth systematically over the long-term. Hence this product is suitable for your

long-term objective like retirement planning, childrens future and giving a total

protection to you and your family.


Minimum age at entry 0 year

Maximum age at entry 60 years (For death benefit option A)

55 years (For death benefit option b)

Maturity age 80 years (for death benefit option A)

75 years (for death benefit option B)

Policy benefit period 80 year less age at entry (for death

benefit option A)

75 years less age at entry (For death

benefit option B)

Premium payable period Yearly, Half-Yearly And Monthly

Minimum premium Rs.10,000

Minimum Top-up premium 500


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Benefits of Bharti AXA Life merit plus

In merit plus the policy holder must have to choice one option out of the two.

1.Sum assured(less all partial withdrawals made form the basic policy fund during the 12

months prior to the date of death of life assured) or the policy Fund Value as on the date

of intimation of death, which is higher, will be paid.

2.The sum of sum assured and the policy fund value as on the date of intimation of death

will be paid.

Future confident

Future confident is a suitable product for you, if your objective is long-term targeted

wealth creation over 15-20 year, either for your own retirement or for your childrens

future, while at the same time providing your family enhance financial protection.


Minimum age at entry 0 year


Maturity age 70 years

Policy benefit period 70 year less age at entry

Premium payable period Yearly, Half-Yearly, quarterly and

Monthly

Minimum premium Rs.10,000 for yearly, 5,000 for half-yearly

2,500 for quarterly and Rs.834 for


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monthly premium

Minimum Top-up premium 500

Secure Confidence

Provide complete financial protection to your family, even when you are not there.

Secure confident is suitable to you if your objective is to protect your family against any

financial loss caused due to unfortunate death, disability due to an accident or critical

illnesses which may deprive them of a secured future.

Parameter Eligibility



Minimum sum assured Rs.5 ,00,000

Minimum premium RS.1,500 for yearly,Rs.780 for half-yearly,

Rs.405 for quarterly and Rs.135 for

monthly premium

Policy benefit period 5,10,15,20 and 25 years

Maximum age at maturity. 60 years

Premium paying term Equal to the policy benefit period.

On death On survival

A sum assured is paid to the policy holder

or nominee and the policy shall be

terminated.

The policy shall be terminated and no

monies shall be payable to the policy

holder.


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CHAPTER-4

RESEARCH METHODOLOGY

OBJECTIVES OF THE STUDY


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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

a given 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 of condition 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 researchDescriptive Research: These studies are concerned with describing the

characteristic of a particular individual or a group.

SAMPLE SIZE

Total sample size is 50


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DETERMINING SOURCES OF DATA

There are two main 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 a well structured questionnaire was prepared by the researcher.

Secondary Data: It consistsof information thatalreadyexists somewhereand has

been collected for some specific purpose in the study. The secondary data for this study is

collected from various Japanese Management books.

QUESTIONNAIRE

Questionnaire: A set of questions containing a few Technical questions and more

number of opinionated questions are prepared for the employees of both Centralized and

Decentralized sections of HR Department.


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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: It has no fixed alternatives to which the answer must 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 the selecting

the one that close matches the respondents opinion or attitude.

Dichotomous questions: A dichotomous questions refers to one, which offers the respondents 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 questions are given when there are many points to be considered and

to be ranked in priority.


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Objectives of the study

To understand the process of marketing of agent in Bharti AXA life insurance.How to recruits agent for Bharti-AXA life insuranceTo know about the view of general public about the job of agentWhy people are not willing to work with as an agent, especially with private player.


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CHAPTER-5

DATA PRESENTION AND INTERPRETATION

\


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1) Would you be interested in taking up this business opportunity with Bharti?Yes No

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

2) How much time can you dedicate per day for this activity?(For getting Appointments) hr 1-2 hrs 3-h hrs 5 hrs or more

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

8, 20%

32, 80%

0, 0% 0, 0%

yes

no

6,75%

2,25%

0% 0%

half hour

1/2 to 2

2 to 4

4 to 5


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

Yes No

80% of shopkeeper said that they have knowledge about insurance. 20% of shopkeeper said that they have no knowledge about insurance.

4) Do you have Experience as an agent?Yes No

15% of shopkeepers have experience in the field of life insurance. 85% of shopkeepers have no experience in the field of life insurance.

8, 20%

32, 80%

0, 0% 0, 0%

no yes

6, 15%

34, 85%

0, 0% 0, 0%

yes

no


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

Out of 6 people 33%(3) of shopkeeper working with LIC 33% (2) of shopkeeper working with HDFC Standard Life insurance 33% (1) of shopkeeper working with ICICI Prudential Life Insurance Co. Ltd.

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

Yes NO

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

3,50%

2, 33%

1, 17%

0, 0%

LIC

HDFC

ICICI

4, 10%

36, 90%

0, 0% 0, 0%

Yes

no


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QUESTIONNAIRE

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

No

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

hr

1-2 hrs

3-h hrs

5 hrs or more

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

Yes

No

Experience

Yes

No

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

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


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4) Can you spare day on training to understand the product and how can introduce it toyour customer?

Yes

No

5) How many people do you know in this city?Under 50

51-100

101-300

301-600

Above 600


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Limitation

I didnt get complete feed from the shopkeepers about the question as they are busy in therework and had less time to fill questioned.

Sincerity of answering the questions cannot be judged.

Time was the major constraint for me to understand the long process of recruitment andselection.

Limited money available for project.


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Finding

Why people are not ready to work with private players in life insurance?

Or

Why people are not ready to work as an agent in any company?

In these days LIC created a very well image in the mind of General public because it is semiGovernment Company and also an oldest company. In short most people of Indian believe

upon the LIC only.

During the training period we felt that most of people who are already working in insurancesector think that it is easy to sell the product of LIC than to sell the product of other lifeinsurance company.

Most of people say that this job affects upon there social relation with other and also effectupon there business.

Most of people believe that private insurance companies carried out fraud activity thats whythey never believe upon the private players.

People think that it is a time consuming activity and also required huge market skills.

Some people said that only greedy people like to work in insurance sector.

Because of three days compulsory training.


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Conclusion

In India, there is throat cut competition in the market of life insurance that brand service which

adopt new strategies for sales. I concluding the whole story it can be said that people are much

more aware about the aspects of life insurance and also have knowledge about the role and act of

agent but mostly people unwilling to work as life insurance agent and mostly people prefer to

work with LIC because it is a semi government corporation.


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Suggestions

Bharti-AXA life insurance company must give more advertisements on electronic media and

print media, as it help in enhance its goodwill and more people are willing to work with reputed

companies, through proper advertisement it become easy to sell the product.

An insurance company must work with honesty to win the confident of its agent and general

public.

Duration of training must be reducing as in these day people have no extra time.

Fees charged by companies from candidate for IRDA exam and training should reduce.

Many other extra facilities must be provide to agent to attract them such local and foreign trips,special price on achieving a target, open bank account at free of cost,

Bharti-AXA Life Insurance Company must organize more and more seminars and also

participate in the job trade fairs to find out more candidates.

Increase the commission of agents.

Company must relic to candidate or other people that they are doing a social service for the

welfare of society.

Better career opportunity must be provided to an adviser, such as on role job, promotion etc.

A special function must organize time to time in which the special prizes distribute among those

agent who perform well.

The duration of the process of recruitment and selection is too long (one and half month), during

this process mostly candidate loss there interest, so there is an urgent need to reduce the duration

of this period.

Reduce the minimum premium amount it will help company to attract the agent of other

company, as it increases the scope of market of its agent.


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BIBLIOGRAPHY

S. Balachandran, (2009), IC-33 Life Insurance, Shri S.J Gidwani Publishers, Mumbai

www.irdaindia.org

www.bhart-axalife.com

www.wikipedia.org

www.ibef.org

The opportunity

About 2/3 of the Indian population is insurableHigh % of population is uninsured or underinsurance.

We Indian are natural saversIndians save the maximum in the world.

Those insured are underinsured.
http://www.irdaindia.org/http://www.irdaindia.org/http://www.bhart-axalife.com/http://www.bhart-axalife.com/http://www.wikipedia.org/http://www.wikipedia.org/http://www.ibef.org/http://www.ibef.org/http://www.ibef.org/http://www.wikipedia.org/http://www.bhart-axalife.com/http://www.irdaindia.org/

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