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Company

Introduction


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Jamsetji Nusserwanji Tata starts a private tradingfirm, laying the foundation of the Tata Group in

1868.

The Tata Group is one of India's best-knownindustrial groups with an estimated turnover ofaround US $14.25 billion

The Tata Group pioneered several firsts in Indian

industry firsts, including: India's first private sector

steel mill, first private sector power utility, firstluxury hotel chain and first international airline,

amongst others.

With more than 220,000 employees across 91 major

companies, it is also India's largest employer in the
http://www.tata.com/index.htm


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American International Group, Inc. is the world's

leading international insurance and financial services

organization, with operations in more than 130

countries

US-based international insurance and financial

services organization

AMERICAN GROUP OF

COMPANIES (AIG)


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TATA-AIG is a joint venture

between TATA and AIMERICAN

INTERNATIONAL GROUP

TATA + AIG

=


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Tata-AIG Life Insurance company is a joint

venture between the Tata Group and

American International Group Inc (AIG)

Incorporation - Tata AIG Life Insurance

Company was licensed to operate in India on

February 12, 2001 by IRDA

Started operations - April 1, 2001.

Tata Group holds 74 per cent stake in the

two insurance ventures with AIG holding the

balance 26 per cent stake.

TATA-AIG


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Company Performance

0

50

100

150

200

250

300

2002-2003 2003-2004 2004-2005

Premium

Income(In

Crore)Growth236%

Growth253%

21

70.90

254


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Recently became the

highest premium taker ininsurance sector


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Research

Methodology


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Data Collection

Primary Data Collection


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Data collection form primary sources were done by

the preparation of questionnaire one each for thedealers and the customers. This was done to support

and verify the facts provided by the secondary

sources.For this purpose the trainee interviewed adetermined number of customers and dealers by the

method of face to faced interview. The questionnaire

was in objective form, which was framed for theconvenience of the dealers, customers and the trainee,

which further help in the presentation of the results

thus obtained.


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Objectives of the Study

MAIN OBJECTIVE

The main objective of this project

is Recruitment of ADVISOR and

Market Survey of RetirementPlanning.


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SUBSIDIARY OBJECTIVES

qTo analyse ADVISOR recruitment policies of companyand recommend necessary changes required.

qTo identify ways by which ADVISOR can improve theirskills.

qTo analyse customers satisfaction as regards services,product & relationship of the company (with customers)

and other attributes.

qTo collect data for recruiting new ADVISOR.qTo collect data related to Critical Illness and MedicalCost.


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ADVISOR

recruitment atTATA-AIG


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What is a ADVISOR ?

ADVISORis a PROFESSIONAL and

SKILLEDperson, CERTIFIEDto

work as a REPRESENTATI VEof the

company and who is able to recommend

the best solutions based upon the

individual customers needs.


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What is the Role of ADVISOR at TATA-AIG?

Analyze the customers financial requirements .

Recommend appropriate life insurance solutions.

Make the customers able to meet their financial

objectives in the most optimum manner.

Provide support to customers on an ongoing

basis.

Positively promote the co. brand, its mission,

aims, and values.

Set, monitor and achieve the sales target.


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Who could be a financial ADVISOR?

18+ year of age.

10+2 passed.

Willing to undergo 100 hrs. IRDA

mandatory training

Has no agency with any life insurance co.


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Why Recruitment ?

ADVISOR Recruitment is a Basic process.

ADVISOR Recruitment ensures desired results .

ADVISOR Recruitment is an endless process.

More ADVISOR Recruitment = More Business.


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Search & Identify the target Profile.

Making Business Opportunity Presentation (BOP)

Cold Calls

Using the FOLDER PRESENTATION TECHNIQUE.

Building on Relationship & getting references also.

Train ,Coach & motivate them time to time.

PROCESS


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MARKET SURVEY ON

RETIREMENTPLANNING


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Q1. How important is to save for your retirement?

A. Very important

B. Important.

C. Not so important.

D.Not at all important

Importantance to save for retirement

in the market survey

Not at all

important2%

Important

40%

Very

important

53%

Not so

important

5%

Very important

Important

Not soimportant

Not at allimportant


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Q3. what is your current monthly household expenditure?

A. Upto Rs. 10,000 per month.

B. Between Rs. 10,000Rs. 25,000 per month.

C. Between Rs. 25,000Rs. 50,000 per month.

D. Between Rs. 50,000Rs. 1,00,000 per month.

E. Above Rs. 1,00,000 per month.

Currently monthly household

expenditure in the market survey

9%

2%

22%

56%

11%

Upto Rs.10,000 permonth.

Between Rs.10,000 Rs.

25,000 permonthBetween Rs.25,000 Rs.

50,000 per


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Q4. how many years do you have before you retire?

A. 0 to 5 years

B. 6 to 10 years

C. 11 to 20 years

D. 21 to 30 years

E. More than 30 years

Years left for retirement in the

market survey

30%

20%

15%

10%

25%

0 to 5 years

6 to 10 years

11 to 20 years

21 to 30 years

More than 30

years


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Q5.what is the amount do you think you would require for monthly expenses after retirem




D. Between Rs. 50,000Rs. 1,00,000 per month.

E. Above Rs. 1,00,000 per month upto Rs. 1,00,000.

Amount require for monthly

expenses after retirement

60%

20%10%

7%

3%

Upto Rs. 10,000 per

month

Between Rs. 10,000

Rs. 25,000 per month

Between Rs. 25,000


Between Rs. 50,000

Rs. 1,00,000 per

monthAbove Rs. 1,00,000

per month upto Rs.

1,00,000


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Q6. How much money do you save on a monthly basis exclusively for your retir




D. Between Rs. 25,000Rs. 50,000 per month.E. Above Rs. 50,000 per month.

Money save on monthly basis for

retirement purpose in the market

survey50%

20%

10%

15%

5%

upto Rs. 5,000 per

month.

Between Rs. 5,000


Between Rs. 10,000


Between Rs. 25,000


Above Rs. 50,000 per

month


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Limitations of the Study:

Q Sample size was very small as compared to theuniverse.

Q There might be biasness in view of somerespondents. Some of the respondents may have

totally different view with respect to the totalsample size, which may or may not affect the final

outcome of the research.

Q Majority of the respondents were lacking fromthe dedication in giving response.

Q Time constraint was one of the majorlimitations while conducting the research

Q Customers didnt met as per appointmentsgiven by them.

Q Database was not up-to-date, most of


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Findings And Recommendations

vTATA-AIG Life Insurance is among 14 players who are running Life

Insurance business in India.

V Being a private company, to grow in market, company has to giveextra services for customer delightment.

V One of main reason of dissatisfaction of customers was of irregularor no contact of Advisor after policy was taken by the customer, whichshould be handled by giving strict instructions to Advisor to keep

regular contact with the existing customers.

V Company should regularly communicate to the policyholdersregarding new plans introduced by the company through mails, emails,

sms, brouchers or any other means.V Agent base of the company should be increased, as practiced byLIC. Life Insurance is mainly a relationship-based business; therefore

individuals having contacts should be made agents of the company.


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Cont

vImprovement in advertisement and sales promotion techniques bothat local and national level should be there, in order to increase

awareness about company and its products.

vGift articles or even greeting cards should be given by the companyon occasions like New Year, Birthday, Independence Day or any other

festival, so that the customer feelings are touched by the company.vRegular surveys should be conducted regularly or one tele-officershould be appointed for making calls to the existing customers to solve

there problem, if any.

vMore hoarding should be used in the city for advertisement orsponsorship should be given of some grand event.vCustomers should be encouraged to bring new customers, by givingthem some gifts or financial incentives.

vRegular advertisement in Newspaper


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THANK YOU

Prepared by:-

JAYANT BHATI

M.B.A. Part-I

J.I.M. Jodhpur

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