Bajaj allianz general insurance company limited

TRAINING REPORT
ON
BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LIMITED
SUBMITTED IN PARTIAL FULFILLMENT OF THE BACHELOR OF
BUSINESS ADMINISTRATION
2005-2008
UNDER THE GUIDENCE :
COMPANY GUIDE
FACULTY GUIDE
M r. A L O K KUMAR
Ms. SUMAN
AREA MANAGER
(OIMS)
(NORTH ZONE)
SUBMITTED BY :
NAVNEET KUMAR
B.B.A – 4TH
SEMESTER
ENROLLMENT NO. :- 05511232007
OJAS INSTITUTE OF
MANAGEMENT
B – 1, SECTOR – 16 , ROHINI , DELHI -- 110085
AFFILIATED TO :

GURU JAMBHESHWAR UNIVERSITY OF SCIENCE & TECHNOLOGY
( HISAR )

ACKNOWLEDGEMENT
I feel greatly indebted to my teachers , specially to Mr.
……….……… and
Prof. …………...and also very thankful to my company guide Mr. Alok Saini ,
because they created in me an immense interest in this
project and the field of
insurance.
One of the main inspiration to make
this project has been the many
interested topics of mine in the
project such as problem
investigation , client
making , customer dealings etc.
This report is based mainly
on the discussion , lecture,
notes I prepared with
the help
of my teachers
and company guide
and obviously based
on my
practical experiences during
the training period .
My understanding of
the

topic (i.e. general insurance) became
sharpened through informal discussion
with my colleagues . I am very much thankful to them all .
I have has
the benefit of
valuable advice and
suggestions from the
many
faculties teaching in
my OJAS Institute of
Management , Rohini , Delhi - 85.
I express special thanks :
1. To the all staff of Bajaj Allianz General Insurance
Co. Ltd. who
graciously helped me in all possible ways .
2. To all the faculty of OJAS Institute of Management , Rohini ,
Delhi for
their kindness who never hesitate to help me.
And last but not least , I thank my family and friends , who were my steady
support all the time .
NAVNEET KUMAR

PREFACE
Industrial Training
included in
the curriculum
of B. B. A
Program from
Guru Jambheshwar University Of Science
& Technology is intend to
provide
students the required
exposure to the actual condition
and process employed
in the industry . The trainee works as a part of management for a
small period
of time
and thus
gets
a chance
to get
accustomed and
understand
industrialization ship.

It exposes the student to the marketing world , which is as
important as the
scientific aspects of training . The trainee
interacts with the
workers , professionals and thus is able to learn
few tricks of the trade , which
would be helpful
in developing his
professional skills.

Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company Limited is
a joint venture between
Bajaj Auto Limited
and Allianz SE
. Both enjoy a reputation
of expertise ,
stability and strength.
Bajaj Allianz General Insurance
received the Insurance
Regulatory and
Development Authority (
I R D A )
Certificate of
Registration ( R 3 )
on
May 2 nd
, 2001 to
conduct General Insurance
business ( including
Health
Insurance business ) in
India . The company has an
authorized and paid up

capital of Rs. 110 crores . Bajaj Auto holds
74% and the remaining 26% is
held by Allianz SE .
As on 31st
March 2007 Bajaj Allianz General Insurance maintained
its premier
position in the
industry by garnering
a premium income
of Rs. 1803 crore.
Bajaj Allianz has made a profit
before taxes of Rs. 117 crore and emerged as
the first private
insurance company to make profit before taxes
of more than
Rs. 100 crore . The company also was the one
of the highest profitable
insurer
among private
insurance companies
and made a profit
after tax of
Rs. 75 crore . Bajaj Allianz is the
only company to make underwriting
profits
for the last three years consecutively .

Bajaj Allianz today has a network presence in over 200 towns spread across the
length and breadth of the country . From Surat to Siliguri and Jammu to
Thiruvananthapuram , all the offices are interconnected with the Head Office
at Pune .
In the first quarter of the current financial year , 2007 –
2008 , Bajaj
Allianz garnered a premium income of Rs. 574 crores , achieving a growth of
27% over the last year for the same period and Net Profit rose to Rs. 21
crores.
Bajaj Auto Limited
Bajaj Auto Limited is the largest manufacturer of two and three wheelers in
India and also one of the largest manufacturer in the world . Bajaj Auto has
been in operation for over 55 years . As a promoter of Bajaj Allianz General
Insurance Company Ltd. , Bajaj Auto has the following to offer :
1. Vast distribution network .
2. Knowledge of Indian consumers .
3. Financial strength and stability to support the insurance business .
4. Existing skilled personnel in the related sector .

Allianz SE ,
Germany
Allianz SE is in the business of General ( Property & Casualty ) Insurance ,
Life & Health Insurance and
Asset Management and
has been in
operation
for over 110
years . Allianz is
one of the largest
global composite insurers
with operations in
over 70 countries .
Further , the
group provides
Risk
Management and Loss Prevention
Services . Allianz has insured
most of the
world’s largest

infrastructure projects
( including Hongkong
Airport and
Channel Tunnel b/w UK
and France ) , further
Allianz insures
the majority
of
the fortune
500 companies , besides
being a
large industrial
insurer ,
Allianz has a
substantial portfolio
in the
commercial and
personal lines
sector , using a wide variety of
innovative distribution channel .
Allianz SE has the following to offer Bajaj Allianz General Insurance Co. Ltd. :
1. Set up and running of General insurance operation .
2. New and improved international products .
3. One of the world’s leading insurance companies .

4. More than 700 subsidiaries
and 2 Lac employees in over 70
countries
worldwide .
5. Provide insurance to almost half the Fortune 500 companies .
FACTS & FIGURES
The Bajaj Group
A Group Built On Trust.
What started
off a
sugar manufacturing
factory in
1931 , has grown
to
become one
of the country’s
largest business
houses . With activities that

encompasses the manufacture of
a whole range of products .
At the turn of
the new millennium
, this business
conglomerate had a
sale
t u r n o v e r
in excess
of U S $ 1, 3 0 0
m i l l i on . The
N e t A s
s e t s were
worth
U S $ 1,3 3 3 million
and the Net Profit
was U S $ 58 million
. What’s more , in
the year 2001 , it
was ranked as the
5th
largest
business family in
India by
the Center
For Monitoring

Indian Economy ( C
I M E ) . It
has under its
umbrella over 25
companies and a
strength of over
25000 employees .
It’s core
strength , however
, is the
unshakeable foundation
based on its
tradition of trust .
Group Companies.
The Bajaj Group comprises 27 companies and was founded in the year 1926 .
The companies in the group are :
Bajaj Electricals Ltd. Mukand International Ltd.

Bajaj Auto Ltd. Mukand
Engineers Ltd.
Mukand Ltd. Mukand Global Finance Ltd.
Bajaj Hindustan Ltd. Bacchraj Factories Pvt.
Ltd.
Maharashtra Scooters Ltd. Bajaj Consumer
Care Ltd.
Bajaj Auto Finance Ltd. Bajaj Auto Holdings Ltd.
Hercules Hoists Ltd.
Jamnalal Sons Pvt. Ltd.
Bajaj Shevasharam Pvt. Ltd.
Bacchraj & Company Pvt. Ltd.
Hind lamps Ltd. Jeevan Ltd.
Bajaj Ventures Ltd. The Hindustan Housing
Co. Ltd.
Bajaj International Pvt. Ltd.
Baroda Industries Pvt. Ltd.
Hind Musafir Agency Pvt. Ltd.
Stainless India Ltd.
Bajaj Allianz Life Insurance Company Limited
Bajaj Allianz General Insurance Company Limited

The Allianz Group
The Allianz Group is one of the l eading global
services providers in insurance ,
banking and asset
management .
With approximately 1,7
3,0 0 0 employees
worldwide ( as of June 30, 2007 )
,
th e
Allianz Group
serve s
more than
7 0 mil lion
customers
in a
bout
7 0 countries . On
the insurance side ,
Allianz is the

market leader
in the
German market and
has a strong international
presence .
In
fiscal 2 0
0 6 the
Allianz Group
achieved
total
revenue s
of over
101 billion
euros . Allianz is also
one of
the world’s l argest
asset managers ,
with third
party asset of
764 billion
euros under management
at the year
end 2006 .
In 2006
Allianz SE ,

the parent
company , became
the first
company in
the Dow Jones
EURO STOXX 5 0
Index to adopt
the legal
form of a
Societas Europea , which
is a
new European
legal form
for
stock corporations .
Allianz SE is
headquartered in
Munich , Germany .
Beyond the
quality of
our financial
performance , a
number of
other

activities and
factors are
important for
the sustainable
growth
of our
competitive strength
and company value . These include , but
are not limited
to our global diversification , the
reduction of complexity ,
our – value based
management approach , and our
crucially important employees .
INTRODUCTION TO INSURANCE
What Is Insurance
?

Protection of
the economic value of
assets is the business of insurance . Every
asset
has a value . Losses of unfortunate
few are shared by and
spread over
to future /
benefits have a
value.
Loss
of assets for
any reason deprives
the owner of
the expected benefit .
Insurance
in this context
is a mechanism
that helps to
reduce the adverse
consequences
due to loss
of assets.

For example
factory or a cow , the
product is sold and income
is generated .
Another
example motorcar
, it
provides comfort
and convenience
to the
owner in his
normal life although there is no
gain whereas a taxi
is income
generating source . Every
asset has a life and
during that time
it is expected
to perform to
the expectation of the owner .
Knowing this well owner
keeps
provision . But in
case early
destruction of
asset or

non function of
asset
through
accident or
fire
or any
other
unfortunate event
are
deprived
and suffers . Insurance
is a
method , which
helps to
reduce such
adverse
consequences .
Provision And
Need For Insurance .
Assets are
likely to
be destroyed
or made

non-functional due
to perils
like fire ,
floods , breakdowns , lightning and
earthquake . Damage to
assets
caused
by any perils
is the
risk that
asset is
exposed to .
Risk means
possibility of loss
or damage , which may or may not happen .
This is because
of uncertainty
about the
risk that
insurance plays
the role .
Insurance
becomes
relevant only
if there
are uncertainties

of occurrence of
event
leading to
loss.
No Uncertainty – No
Insurance .
We can say that an asset
is an income generating
asset , which can be lost on
early destruction caused by accident . Insurance does not protect
the assets but
only compensate the insured by way of payment of claim .
Concept Of
Insurance .
The concept
of insurance
is
that people
exposed to the
same risk come
together , and all
shares loss

suffered by a
few . The insurance companies
play the role of implementing the
said concept collect in advance the shares in
the shape of premiums and
create a fund out of which the losses are paid .
Example To Show
How Insurance Concept
Actually Works .
Example – 1
In a village , there are 400 houses , each valued at Rs. 20,000/- . Every
year four
Houses get burnt, resulting into a total loss of Rs. 80,000/- . If all the
400 house
owners came together and contribute Rs. 200/-
each , the common fund would
be Rs. 80,000/- . This is
enough to pay

Rs. 20,000/- to each
of the 4 owners
whose houses got burnt .
Thus the risk of 4
owners is spread over 400
house
owners of the village .
Example – 2
There are 1000 persons
all aged 50 and
healthy . It is expected that
of these
10 persons may die during the year . If
the economic value of the loss suffered
by the family of each dying person is taken as Rs. 20,000/
, the total loss would
be Rs. 2,00,000/- . If each
person of group
contributes Rs. 200/- a
year , the
common fund would be Rs.2,00,000/- . This would be enough to pay Rs.20,000/-
to the family of
each of the 10 dying persons . Thus 1000 person share
the risk

in case of
10 persons .
ROLE OF THE INSURER
Insurance business is conducted by companies known as ‘Insurers’.
Insurers
bring together persons
exposed to the same risk
by collection premium
from all of them and
pay compensation to those who suffer . The insurer
on the lines explained in examples
determines premium . Insurers role is
that of a trustee and has to ensure that
no body takes undue advantage
of the arrangement . In nutshell both
underwriting and claim settlement

to be done with great care .
Role Of Insurance
In Economic Development.
Investments are
necessary for
economic development .
Insurance plays a
major role in
mobilization of public savings . Savings
out of insurance fund
are then utilized in
investments for economic
growth .
Strength of insurance
companies lies in that
huge amount are collected
and
pooled together .
This so collected amount is called PREMIUM .
This is known
as pooling
of risk .

Insurance removes
the
fear , worry
and anxiety
associated
with
future
uncertainty and
thus encourages
free investment
of
capital in
business
enterprises . Thus
insurance encourages commercial
and industrial develop-
ment and thereby
contributes to a vigorous economy and
increased national
p r o d u c t i
v i t y .

These days
organization of
industries , commerce and
trade depends
on
insurance , because no
bank or financial
institution lends
money without
having insurance
cover as collateral
security . Insurance ranks with
export
trade , shipping and
banking services as
earner of
foreign exchange to the
country . Insurers are also
operating in foreign countries and earning foreign
exchange and represent
invisible export .
Cattle and other livestock and also equipment like pump-set are rural
business.

Various rural schemes
provide necessary
financial protection against
loss or
damage to poor
farmers and other peoples of
weaker section
of society .
JOB EXPERIENCE
As someone
has said that
people learn through
experiences , it’s really
a
truth . I also learnt
so many important
things during my
training period . It

was surely and greatly
a unforgettable period of
my life .
It was a
great joyful and
educational experience
working with the leading
insurance company Bajaj
Allianz General Insurance
Company Ltd. On the
very ` first
day of
my training
I was
a bit
nervous
founding myself
working like
an illiterate with experienced professionals
. But thanks to my
company guide who
extremely helpful to
me at every step . Because
of my

eagerness to know about maximum in less h elp me to
get myself familiar
with other personnel
in the company office
in two or three days .
I gain many new experiences and learnt
many tricks to handle the
prospects .
I come
to know how
to deal with
the formal environment , how
to talk to
customers and how to convince them
about the product . I also learnt that how
to handle the
customer and deal with
them if they are
quite aggressive .
Overall it was
a great experience .

INTRODUCTION TO THE PROJECT
Since I am pursuing my
Bachelor’s
degree of
B.B.A that
is the
only course
that
is
providing its
students to
work in
an organization
as a trainee
along with the
scheduled
course study . That is
why we need to
understand the strategies of
different

companies and
their existence
in the
market . I
got the
opportunity to
work and understand the
strategies of insurance
sector during my training
with Bajaj Allianz
General Insurance Company
Limited . The basic purpose
of this project
report is to become familiar with
office environment . During
the period
of me
entire training
I learnt
a lot
different things
which
changed me a
bit like professionals
.

VISION
1. To be the first choice insurer for customers.
2. To be the preferred employer for staff in the insurance industry .
3. To be the No. 1 insurer for creating shareholder value .
4. To set service examples for other insurers .
5. To make itself a Brand of insurance .
MISSION
As a
responsible ,
customer
focused market
leader
, we

will
strive to
understand the
insurance needs
of the
consumers and
translate it
into
affordable products
that deliver
value for
money .
A Partnership Based On Synergy .
Bajaj Allianz
General Insurance offers
technical excellence
in all areas of
General and Health Insurance as
well as Risk Management . This partnership
successfully
combines Bajaj
Auto’s in -
depth u n d
e r s t a n d i n g

of the
local
market and
extensive distribution
network with the
global experience
and
technical expertise
of the Allianz
Group . As a registered
Indian Insurance
Company and a capital base of Rs. 110
crores , the company is fully licensed to
underwrite all lines of
general insurance business
including health insurance.
WHY BAJAJ
ALLIANZ ?
The Bajaj Allianz
Difference .

1. Business strategy
aligned to
client’s needs
and trends in
India and
global economy / industry .
2. Internationally experienced core team , majority with local background .
3. Fast , decentralized decision making .
4. Long – term commitment to market and clients .
5. Quickly settlement of claims .
6. Customer intimation on time .
7. Products based on customer choices or tailor made policies .

O u r A c h i e v
e m e n t s .
Bajaj Allianz has
received “iAAA”
rating , from ICRA
Limited , on asso-
ciates
of Moody’s
Investors Services
, for
Claims Paying
Ability . This
rating
indicates
highest
claims
paying
ability and
a
fundamentally
strong position .
T r u s t .

At Bajaj Allianz ,
we realize that you
seek an insurer
whom you can trust .
Bajaj Auto Limited
is t rusted name for
over 55 years in the
Indian market
and Allianz SE has
over 110 years of global experience
in financial services .
Together we
are committed
to provide
you with time
tested and
trusted
financial
solution that
provide you
all the
security you
need for
your
investment . And
more ........

C l a i m
s P h i lo s o p h
y .
The Bajaj Allianz team follows a service that aims at
taking the anxiety out
of
claims processing . We
provide ourselves on a friendly and open approach .We
are focused towards providing you a
hassle free and speedy claims processing .
Our claims philosophy is to :
1. Be flexible and
settle fast .

2. Ensure no claim file to be seen by more than 3 people .
3. Check processes regularly against the global Allianz OPEX ( Operational
Excellence ) methodology Sold over 1 million since inception .
U n d e r w
r i t i n g
P h i l o s
o p h y .
Our underwriting philosophy focuses on :
1. Understanding the customer’s needs .
2. Underwriting what we understand .
3. Meeting the customer’s requirements .
4. Ensuring optimal coverage at lowest cost .
C u s t o m e
r O r i e
n t a t i
o n .
At Bajaj
Allianz , our guiding

principles are
customer service and
client
satisfaction . All our
efforts are directed towards
understanding the culture ,
Social environment
and individual insurance
requirements – so that we
can
cater to all
your varied needs .
E x p e r i
e n c e d A
n d E x p e
r t S e r
v i c i n g
Te a m .
We are driven
by a team of experienced
people who understand Indian risks
and are supported by the necessary
international expertise required to analyze

and assess them .
Service engineers located
in every major city .
S u p e r i
o r T e c h n o l o g
y .
1. In order to ensure
speedy and accurate processing
of your needs , we
have established
world class
technology , with renowned
insurance
software , which networks
all our
offices and
intermediaries .
2. Using the Web , policies can be issued from any office across the country
for retail products .
3. Unique , user friendly software developed to make the process of issue of
policies and claims settlement simpler .
( e.g.- online insurance of marine policy certificate )

U n i q u e
F o r m s
O f R i s
k C o
v e r .
1. Special PA ( personal accident ) cover for Amarnath Yatris .
2. Film insurance .
3. Event management cover .
4. Sports & Entertainment Insurance Package .
R i s k M
a n a g e m
e n t – O u r
E x p e r
t i s e .
Our service
methodology is tried
, tested and
proven the world
over and
involves :

1. Risk Identification : Inspection .
2. Risk Analysis : Portfolio review and gap analysis .
3. Risk Retention .
4. Risk Transfer : To an insurer as well as reinsurer ( as required ) .
5. Creation of need based products .
6. Ongoing dialogue and proactivity .
CUSTOMER COMMUNICATION
1. Consumer promos : Please
ensure that your

staff is well
trained to
communicated all the
consumer promos ( Regular / Periodic ) to
maximize
the benefits and increase overall sourcing .
2. False promises : Responsibility to ensure that no false
promises are made
to the customer by
Sales Executives lies
with the Channel
Partner . We
suggest conducting
regular audits to
ensure compliance .
3. Written Communication : Channel Partner
is advised not
to have any
written communication
with the customer . Applicant
will receive a letter
from bank once his application has been decisioned . For any
service related
issues / customer queries , please quote :-

Bajaj Allianz General Insurance Co. Ltd. –
Customer Care No. -- 30305858 : Mobile
1800 22 5858 :
MTNL/BSNL/Reliance Network
1800 102 5858 : Bharti/Airtel Network
OR
SMS – “CLAIM” on 9860685858
RESPONSIBILITIES
1. To ensure the prospect / client that the plan suit his / her condition well and
beneficial.
2. To provide on time service as and whenever the customer wants .
3. Guiding the every client for their benefits rather than for self or for
company benefits .
4. Each and every step in a policy must be disclose to the policyholder .
5. Filling every form completely and must be duly stamped wherever required .
6. Recruiting new agents and guide them to perform well .
7. Depositing of premiums collected from customers on time as laid
down by the company .

8. Making it easier for the customer to get their claim easily and fast .
9. Follow the company and IRDA rules and regulation is must .
10. Never mislead any prospect and client as it faded the company reputation .
PROBLEM FACED
In performing
any kind of
job or work there are
some kinds of problems
has been faced
by every person or
personnel . During my rigorous
training
period I also accustomed
with some hurdles and problems
while performing

my assigned duties like
as follows :
1. It becomes impossible to suits every
customers need and wants
because of
lack of flexibility in plans .
2. The premium calculation
sometimes becomes a
cumbersome process and
it leads to loose the client as nobody is having that much of time now a days
.
3. To handle the new recruited agents is always difficult task as they are
like clean clay .
4. Because of mistakes in form loosing the customer faith .
5. Rebates in premiums also affects the business .

RECOMMENDATION & SUGGESTIONS
Products

1. Motor / Home Insurance 2. Health Insurance
● Home Insurance ● Health Guard
● Householder Package
● Hospital Cash
● Shop / Showroom
● Critical Illness
● Shopkeeper
● Personal Guard
● Motor Vehicle Dealer Package ●
Silver Health
●
Silver Health
3. Travel Insurance 4. Your Employee
● Travel Companion ● Group PA ( personal accident
● Student Companion
● Group HG ( health guard )
● Travel Asia ● Group CI
( critical illness )
● Travel Elite ● Group Travel
● Pravasi Bharti Bima Yojna ●
Workmen’s Compensation

5. Office 6. Corporate Insurance
● Office Package ● Aviation
● Burglary ● Wedding
Insurance
● Fire ● Freight Forwarders
● Money ● Project
Insurance
● Plate Glass ● Specialty Lines
● Public Liability ●
Marine Hull Insurance
● Fidelity Guarantee ●
Sports & Entertainment
7. Manufacturing Unit
● Fire
● Industrial All Risk
● Business Interruption
● Workmen’s Compensation
● Public Liability
● Product Liability
● Fidelity Guarantee

● Marine Insurance
● Electronic Equipment Insurance
MOTOR INSURANCE
Motor Insurance : accounts for a major portion of the insurance industry.
This is a tariff class of business .
Tariff rate have been revised w.e.f. 1st
July 2002 .
For the purpose of insurance , motor vehicles are classified into
4 - broad categories .
1. Private Car
2. Motorcycle & Motor Scooter
3. Commercial Vehicles
Further classified as :-
a.) Goods Carrying Vehicles
b.) Passenger Carrying Vehicles
c.) Motorized Rickshaws
d.) Taxis
e.) Buses
4. Miscellaneous Vehicles e.g. –
a.) Hearses

b.) Ambulances
c.) Mobile Dispensaries
d.) Cinema Film Recording & Publicity Van , etc….
TYPES OF POLICIES
For all classes of vehicles , there are two types of policy :
1. Liability Only Policy .
Motor Vehicle Act
passed in 1939 and further
amended in 1988 . In old days
many pedestrian
knocked down , injured
and even killed
did not
get any
compensation . To safe guard the interest of public MV Act
was introduced as
compulsory insurance .
Now no vehicle
can ply

in public
place without
‘Act Liability Insurance’.
Following are compulsorily covered under Liability Only Policy :
1. Any liability incurred by
the insured in respect of
death or bodily injury
of any
person
including
owner of
the
goods
or his
authorized
representatives carried in the carriage or vehicle .
2. Liability incurred in
respect of damage to any property
of a third party .
3. Liability incurred in
respect of death
or bodily injury of
any passenger

of a public
s ervice vehicle .
4. Liability arising under Workmen’s Compensation Act , 1923 in respect
of death or bodily injury of :
a.) Paid driver to the vehicle .
b.) Conductor , or ticket examiner ( public service vehicle ) .
c.) Workers , carried in a goods vehicle .
d.) Liability in respect of death or bodily injury of passenger who are
carried for hire or reward or by reason of or in pursuance of contract
of employment .
The policy of insurance should cover the liability incurred in respect of any one
accident as follows :
1. In respect of damage to any property of third party :- Limit of Rs. 6,000/- .
2. The liability in respect
to death of or bodily
injury to any passenger of a
public service vehicle in
a public place is the amount of
liability incurred
( without limit ) .

Section 140 of the Motor Vehicle
Act 1988 , Provides the liability of the owner
of the Motor Vehicle to pay
compensation in certain cases , on the principle of
‘No Fault’ . The amount of compensation , so payable , is
Rs. 50,000/- for death
and Rs. 25,000/- for
permanent disablement of any
person resulting from an
accident arising out of
the use of the
motor vehicle .
2. Package Policy .
This policy covers all the inclusions of the Liability Only Policy
with including
some extra covers and
damages to vehicle like
as follows :

Inclusion
1. Fire , explosion , self ignition and lightning .
2. Riot and strike .
3. Earthquake ( fire and shock damage ) .
4. Malicious act .
5. Terrorist activity .
6. Landslide , rockslide .
7. Burglary , house breaking or theft .
8. Accidental external means .
9. Transit by road , rail , inland waterway lift , elevator or air .
10. Flood , typhoon , hurricane , storm , tempest , inundation , cyclone ,
hailstorm , frost .
Exclusion
1. Depreciation .
2. Wear and tear .
3. Consequential loss .

4. Mechanical or electrical breakdown . Failure or breakage .
5. Loss when the vehicle is driven under the influence of intoxicating
liquor or drug .
6. Damage to tyre unless vehicle is damaged at the same time
( then 50% of
the cost of
replacement is
payable ) .
What Bajaj Allianz Provides Under Motor Insurance ?
Get an online insurance quote from Bajaj Allianz for a comprehensive
Package for your car and other vehicle insurance . We have a car insurance
to suit your needs .

We pride ourselves on our claims service , choose Bajaj Allianz
Motor Insurance for your car and other
type of vehicle and you can be
sure that we will be there for your convenience whenever you need us ; 24x7 .
Features .
1. Assured best deals on your Motor Insurance .
2. Fair and faster claims settlement .
3. Discount on back to back accident free years .
4. Instant online renewal and issuance of your Motor Policy .
5. Quick service on breakdown / accident
with instant claim status
updates .
6. 24x7 customer assistance for
all product queries and claims
information .
7. Instant claims status
via SMS .

Benefits .
1. Huge saving with a comprehensive coverage for your vehicle .
2. Cashless claims over 1500 Preferred Bajaj Allianz workshops in India ,
75% on account payment when cashless facility is not available .
3. Transfer your existing ‘No Claim Bonus’ from any insurance provider
ranging from 20% - 50% .
4. 0% EMI option available on payment through Citibank
Credit Card .
5. Towing facility in an event of a breakdown / accident .
6. 24x7 service by phone or online-even on holidays .
7. Carry your fortune for
being a safe driver
and earn discounts
on
‘Own Damage’ premium for back to
back accident free years on an
existing car or on any car which you upgrade .

AGENTS
An Insurance Agent .
Insurance agent
has been defined
by Insurance Act , 1938
as one who is
licensed under that Act ( Sec. 42 ) and is paid
in consideration of his soliciting
or procuring insurance
business including business
relating to continuance
,
renewal or revival
of policies of
insurance .
Agents Regulation .
The issue of
license required
under Sec. 42 of

the Insurance Act 1938 ,
is
regulated by the Insurance
Regulatory And Development Authority ( IRDA ).
The IRDA has
vide regulation 3
of the ( Licensing
of Insurance Agents )
R e g u l a t i o
n s , 2 0 0
0 , A u t h o r i
z e d persons being
officer o f insurers ,
to issue such licenses .
The license issued
by the IRDA will
be valid for 3 years . The license may be
to act as an agent for general insurer or life insurer or composite
insurance agent .
Qualification To Become An Insurance Agent .

1. A pass in 12th
standard or equivalent examination from
recognized
Board / Institution , 10th
standard for rural agents ( i.e. residing
where
population is less
than 5 Thousand ) .
2. Has undergone training as per IRDA Regulation.
3. Has passed examination prescribed by IRDA .
4. He must be at least 18 years of age .
Disqualification For Grant Of License .
1. A minor .
2. Found to be
unsound mind by a
Court Of Competent jurisdiction .
3. Found guilty of criminal breach of trust , misappropriation , cheating ,
forgery or abetment or attempt
to commit any such offence .
4. Found guilty of or knowingly
participating in or conniving at any
fraud , dishonesty or misrepresentation against an insurer or an insured .

5. Violation of the Code of
Conduct as specified by IRDA
Regulation .
FAQ’s To Become An Agent .
Q- 1. Can I become an agent with Bajaj Allianz General Insurance Co. Ltd. ?
Ans: You certainly can if :
a.) You are outgoing and like meeting people .
b.) You are ambitious to own a business .
c.) You only want your clients to be your bosses .
d.) And you want to decide your working hours .
Q- 2. What are the pre-requisites to become an agent with Bajaj Allianz
General Insurance Co. Ltd. ?
Ans: The IRDA has laid down the following pre-requisites ;
a.) Qualification .
Should have passed the class 12th
examination or equivalent

examination conducted
by any recognized
Board / Institution , where
the applicant
resides in a
place with a
population of 5000
or more
as per the last census and should have passed the
class 10th
examination
or its equivalent from a
recognized Board / Institution if
the applicant
resides in any
other place .
b.) Practical Training .
Where the applicant is seeking license for the time he /
she undergo
100 / 50 hrs training in
an IRDA approved institution
and thereafter

take the Pre - Licensing test to qualify for applying for an
Agency License .
Q- 3. How do I apply ?
Ans: Take the application
form from the company or
download it from the
company web
site . Submit
the completed
form along
with the
proof of birth and the proof of
highest qualification acquired by you to
our nearest office . Our
Agency manager
will get in
touch with you .
Q- 4. How will the company support me to build a career ?
Ans: We will provide you
our product and selling skills
training at regular
intervals to hone
your skills to be

a true insurance
professional .
Q- 5. Do I need sale experience to become an agent ?
Ans: Sales experience is certainly of an advantage but even if you don’t have –
you still can apply if you are determined to make a career in this field .
If you have the determination we will train you .
Do’s For The Agents .
1. Disclose license on demand .
2. Explain available options to the
prospect .
3. Disclose the scales of
commission if asked by the
prospect .
4. Explain the nature
of information required
in the Proposal Form
.

5. Impress upon the Prospect
to disclose all information .
6. Inform the insurer
about any adverse
habit and material
fact of
the Prospect .
7. Inform the Prospect about the acceptance or rejection
of the Proposal .
8. Assist the Policyholder or
claimant or beneficiary for
compliance of
requirements .
9. Advise the policyholders to effect Nomination / Assignment / Exercise
of options etc .
10. Conserve business
by ensuring
remittance of premium
by the
Policyholder in time .

Don’ts For The Agents .
1. Procure business without
a valid license .
2. Induce any prospect
to give wrong information .
3. Behave with the
prospect in a
discourteous manner .
4. Interfere with the
Proposals Introduced by the
other agents .
5. Demand or
receive any share of
proceeds of
the claimant .
6. Cause termination of existing
policy to effect a new proposal .
7. Offer different rates , advantages , terms
and conditions other than
those offered
by the insurer .

8. Become or remain a
director of any insurance
company .
9. Apply for a fresh license before 5 years if his license
was cancelled
by the designated person .
10. Have , in
the case of
corporate agent ,
a portfolio
of insurance
business under which
the premium is in excess of 50% of the total
premium procured in any year from one person ( not being an individual )
or one organization or one group of organizations .
CLAIMS TRACK
The real creditability
and trustworthiness of

an insurance company
is put
to test when a actually arises . We feel that the
speed with which the company
moves and its
empathy towards the
claimant determine s the
true strength
of the insurance company .
As an insurance
company , we
have always
taken the initiative
to share
information about
our claim
settlement with
all our
stakeholders on
a
quarterly basis in
our newsletter . We are
willing to share any information ,
which would be
use of the

general public or
our customer . It is
a matter
of pride for
us to be
the first and the only
company to share these
details
with all our
stakeholders .
The statistics clearly inform our
customers about the number of claims paid ,
outstanding claims at
the beginning of
the year and
pending claims at the
close of the
period in review . All these
are categorized by line
of business .
These figures give
the settlement ratio
for that period . The average
claims

settlement ratio has
almost always been
above 90% .
Claims numbers hold
a lot of value
and meaning for
us . At Bajaj Allianz ,
claims settlement is a
continuous process
of ------------------------------------
Review – Measure - Implement – Review .
We strongly believe
that the customer satisfaction
is not a static
measure ,

it ` moves with the
levels or precedents set . It is our endeavor to
be the trend
setter in an
industry long
maligned for
its apathy
towards the claimant .
HEALTH INSURANCE
1. Health Guard

Health care cost are
high and getting higher . Who
will pay your bills if you
have a serious accident or major illness ? Most of the times
we are unprepared
for these difficult
times , emotionally , as well
as financially . Bajaj Allianz’s
Health Guard Policy , protect you and your
family in case you need expensive
medical care . it also offer you cashless benefit and
medical reimbursement for
hospitalization expense .
Features
1. Cashless Facility : With Health
Guard , the member
has access
to the
cashless facility at
various hospitals across
India .
2. The member can opt
for hospitals besides
the empanelled ones , in which

case the expenses incurred him shall be reimbursed within 14 working days
from submission of
all the document .
3. Pre & Post – Hospitalization Expenses : Covers
relevant medical expenses
incurred 60 days Pre
to Post 90 days after
hospitalization .
4. Cumulative bonus of 5% to your sum assured
for every claim free years .
5. Family discount of
10% is
applicable .
6. Covers ambulance charges in an
emergency subject to limit of Rs. 1000/- .
7. Health Check
- Up for
maximum amount
of Rs. 10 0 0
/- at the
end of
continuous four claim
free years .

8. Income Tax benefit
on the
premium paid
as per
section 8 0 -
D of the
Income Tax Act .
Benefits .
1. No strain on pocket of the insured .
2. Complete health coverage .
3. Extended financial support .
4. Comprehensive coverage .
5. Easy and less time consuming .
Advantages .
1. Option of treatment
without making payments , across
several hospitals .
2. Existing disease can also be covered .
3. Expenses covered for a longer period .
4. Covers other expenses too .
5. Simple documentation process for claim settlement .

2. Hospital Cash
The worst nightmare
that anyone can have is the one
when a family member
is hospitalized . Today , when everything is uncertain
nobody can be sure what
will happen . A seemingly small ailment can turn into a major
one .
And what happens when the earning
member of your family is
hospitalized ?
The family goes through the trauma of a loved one being hospitalized as well as
increased financial burden . There
are hospitalization expenses , doctors
fees
and various test
to be carried

out . Meanwhile the patient
loses out on his
earning for being away from work , and a dismayed and
worried family begins
to feel the anxiety of the financial implications .
But with a policy from Bajaj Allianz
you and your family can be rest assured !
It provides cash benefits for each
and every completed day of
hospitalization .
Day for this purpose shall be
every completed ( 24 hours ) of
hospitalization .
However , period less than 24 hours shall be
considered as a
day of if it
is a
period of 12 hours
but includes 03:00
hours .

Features .
1. The policy can be
taken along with any other health
insurance schemes ,
ESIS , CGHS etc .
2. The benefits payable are for each day of hospitalization .
3. The benefits is doubled
in case of ICU admission ( for
maximum 7 days ) .
4. Photocopy of
discharge card , along
with copies
of reports
, bills and
prescriptions corresponding required for claim processing .
5. Premium amount paid up
to Rs. 15000/- p.a. is eligible for
tax exemption
under section 80 - D of the Income Tax Act .
Benefits .
1. Extended financial support .
2. Extra support when desired most .

3. Frees insured of mental anxiety / stress during difficult times .
4. Most in the family can be covered under the policy .
5. Comprehensive coverage with nominal expenses .
Advantages .
1. Can be taken along with other health products – Health Guard
& Critical Illness .
2. Additional financial support .
3. Simple and quick claim processing .
4. Acceptable age group for insured is 90 days till 60 years .
5. Suitable at very low premium .

3. Critical Illness .
A Critical Illness
plan means
you can insure
yourself against the
risk of
serious illness in much
the same way as you insure your car and
your house .
It will give you
the same security of
knowing that a
guaranteed cash sum
will be paid if
the unexpected happens and you
are diagnosed with a
critical

illness . The purpose of
a critical illness plan
is to let you
put aside a small
regular amount now , as an insurance against all this
happening . The statistics
speak for themselves and if you become a part of
them at least you will be sure
that lack of money won’t add
to your problems . Bajaj Allianz , in its effort to
provide a customer centric solution is
offering an insurance policy to
cover to
some of these critical illness like :
Cancer Primary Pulmonary Arterial Hypertension
Multiple Sclerosis First Heart Attack
Paralysis Arota Graft Surgery
Major Organ Transplant Kidney Failure
Coronary Artery Bypass Surgery Stroke

Features .
1. Very competitive premium rates .
2. Insured can opt for Sum Assured from Rs. 1,00,000 to Rs. 50,00,000 .
3. Premium paid is exempt under the Income Tax section 80-D .
4. The product is offered from 6 to 59 years .
5. Medical examination
may be required
in some cases based
on the age
and the benefit amount opted by the proposer .
Benefits .
1. Easy availability of money to take care of the medical expenses .
2. All related expenses for treatment is covered .
3. Most in the family can be covered .
4. Frees insured of mental anxiety / stress during difficult stress .
5. Comprehensive coverage with nominal expenses .

Advantages .
1. The benefit amount is payable once the disease is diagnosed meeting
specific criteria and the insured survives 30 days after the diagnosis .
2. The insured receives the amount as
lumpsum so that he can plan the
treatment accordingly .
3. Expenses like donor expenses in a transplant surgery , which are not
covered under normal health insurance policy , can be paid out of the
amount received under this cover both in India & abroad .
4. Claims Procedure : The insured needs to submit the claim form along
with certificate from the specialist confirming occurrence of the critical
illness .

4. Personal Guard .
Life is full of uncertainties and unexpected events . Accident can happen
At home , at work , even at play . The death or injury of breadwinner can
Create serious financial problems for any family . It is in situation like these
,
that you need to be prepared . To help you
often the blow Bajaj Allianz offers
the Personal Guard cover . Our Personal Guard Policy offers these
additional benefits :
Features .
1. Comprehensive cover including death , permanent disability .
2. Children’s educational bonus .
3. Comprehensive package .
4. Single proposal form .
5. Daily allowance : Hospital cash .

Benefits .
1. Highest compensation in general insurance for cases of ----------
Permanent Total Disability - 125 % of the sum insured .
2. Children’s education not hampered due to your accidental death or injury .
3. All the insurance requirements are addressed by a single policy .
4. Less time spent in fulfilling procedural requirement .
5. Reduces the financial burden on the family .
Advantages .
1. Covers accident and accidental injuries .
2. Additional sum at disposal for your children’s education .
4. Simple documentation requirement .
5. Takes care of the ailments leading to hospitalization .

5. Silver Health .
Silver Health plan offers cashless benefit or medical reimbursement for
hospitalization expenses due to
illness or accident is specially for people aged
between 46 – 75 yrs which protects you and your spouse in case you need
expensive medical care .
Features .
1. Cashless Facility : With Silver Health plan , the member has access to
cashless facility at various network at 1500 hospitals across India .
2. The member can opt for hospitals besides the empanelled ones , in which
case the expenses are incurred by him shall be reimbursed within
14 working days from submission of all the document .
3. 20% of co-payment of the admissible claim to be paid by the member
if treatment is taken in a hospital .
4. Cumulative bonus of 5% to your sum assured for every claims free year.
5. Health Check-up at the end of continuous four claim free year .
6. Family discount of 5% is applicable .
7. Income Tax benefit on the premium paid as per section 80-D of the
Income Tax Act .

Benefit .
1. Offers cashless benefits through a network of 1500 hospitals across India .
2. Comprehensive coverage .
Advantages .
1. Covers accident and accidental injuries .
2. Additional sum at disposal for your children’s education .
4. Simple documentation requirement for claim processing .
5. Takes cares of the ailments leading to hospitalization .

6. E-opinion .
Bajaj Allianz launches e-opinion rider , which will cover the expenses of
2nd
opinion e-consultation services for serious illness in India . The policy offers
unprecedented access to over 7000 physicians employed by the renowned
hospitals of the World Care Consortium . This innovative e-opinion rider gives
you an opportunity to obtain best of international expertise at a fraction
of the cost .
Features .
1. Anyone taking this plan is entitled to take second opinion
should there
be any illness and an expert consultation is required .
2. This rider entitles you to
have 2nd
opinion from renowned hospitals of
the
World Care Consortium of hospitals like Cleveland Clinic , Duke
University , Massachusetts General Hospital , Brigam and
Women Hospital .
3. Qualified physicians from these
renowned hospitals will render
a written
report which includes a diagnosis and treatment plan within
7 working days .

Benefits .
1. Simple process of sending medical reports in digitized from to
World Care Consortium .
2. This product provides independent , world class opinions which
will
enable the attending doctor and patient to take informed decisions on
the
diagnosis and the further course of action .
3. Three opinions are available
per year of coverage of 4
6 opinions in case
it is renewed continuously .
Advantages .
1. Valuable 2nd
opinion at nominal cost without physically visiting these
renowned hospitals .
2. Opinions for major critical illness .
3. Access to over 7000 physicians by the renowned hospitals of the

World Care Consortium .
TRAVEL INSURANCE
1. Travel Companion .
Traveling Overseas ?
Whether you travel for business or pleasure , international travel involves risk .
Medical treatment
abroad can be
expensive & one never
knows , when one

would require it . Having to spend
for medical bills in foreign currency
be an
expensive proposition . There are other difficult situations also , that one might
face like loss of passport or baggage . Bajaj Allianz’s -------------------
Travel Companion Policy is specially designed to help you deal with
situations while overseas travel .
Features .
1. Covers medical expenses and repatriation .
2. Covers for any delay or loss in baggage .
3. Provides student package for students traveling abroad for studies .
4. Family floater available .
Benefits .
1. Spend for medical bills in foreign currency .
2. Takes care of sudden and unforeseen expenditure .
3. Takes care of expenditures in foreign land away from home .
4. Convenient and hassle free trip for the family.

Advantages .
1. Provides financial support outside the country .
2. Can take care of any emergency purchases in case of loss / delay in baggage
.
3. Covers for accident of sponsor travel of family visit in case of
hospitalization of insured .
4. Entire family can be covered under one policy .
2. Student Companion .
What does this policy cover ?
This Policy consist of the following sections :
1. Personal Accident :- Covering death and permanent disablement .
2. Medical Expenses & Repatriation :- Covering hospitalization expenses

arising out of
illness / sickness and also repatriation
expenses for sending
mortal remains to India .
3. Loss of Checked Baggage :- Covering total loss of baggage checked by
an international airline .
4. Tuition Fee :- In the event of the insured unable to continue the school
semester due to any of the following reasons arising during the policy
period , the company shall reimburse the tuition fee paid in advance for
the current semester , subject to maximum the limit shown in the schedule :
A.) Serious medical condition of the insured requiring hospitalization
covered under the policy .
B.) Death or serious injury requiring hospitalization of either of the
parents of the insured .
5. Accident To Sponsor :- In the event of the sponsor named in the schedule
meets with an accident during the policy , which results in his death or
permanent total disability during the policy period , the company shall
reimburse the remaining
school fee subject to
maximum the limit shown

in the schedule .
6. Family Visit :- In the event of
the insured become hospitalized
as a result
of an accidental injury or sickness covered under the policy and the
attending physician advises the necessary attendance of a Family Member
of the Insured , the company will reimburse the actual cost of economy
class transportation by the most direct route via common carrier subject
to maximum the sum insured . For this purpose , family member shall
mean spouse , parent , sibling and in laws of the insured .
7. Personal Liability :- Covering legal liability attaching in a private capacity
during the course of overseas travel .
8. This coverage is also subject to the exclusion of Personal Accident and
Medical Expenses sections of the policy .
Following are the Plans – All Coverage’s in USD …

Coverage Standard Silver Gold Deductibles
---------- (in USD) (in USD) (in USD) (in USD)
Family Visit 7500 7500 7500 NIL
Tuition Fee 10000 10000
10000 NIL
Loss Of Baggage 1000 1000
1000 100
Personal Liability 100000 100000
100000 200
Personal Accident 50000 50000
50000 NIL
Medical Expenses 50000 100000
200000 100
Accident To Sponsor 10000 10000
10000 NIL

3. Travel Elite .
Bajaj Allianz General Insurance
has recently launched an exclusive policy for
high and travelers
called -- Travel Elite - a cluster
of benefits policy
made
for the specific customer group .
Features .
1. Covers personal accident and disability , medical expenses and repatriation
.
2. Compensation in addition to
sum insured under personal accident
during
the course of journey .
3. Covers for loss or delay of checked baggage and loss of passport .
4. Compensation for trip delay , curtailment and cancellation and pays
when aircraft is Hijacked .
5. Direct settlement for in-hospital medical expenses abroad .
6. Covers for home burglary .
7. Reimburses expenses during Golfer’s Hole-in one celebration .

Benefits .
1. Take care of expenditure in foreign lands currency .
2. Ensures convenient and hassle free trip for the family .
3. Help in sudden and unforeseen expenditure .
4. Speed for medical bills .
Advantages .
1. Covers cost of emergency purchase of replacement items during delay
in checked baggage .
2. Can take care of any emergency purchases in case of loss / delay in baggage
.
3. Customized to the needs of high - end customer .
4. Provides financial support outside the country .

ASSET INSURANCE
1. Householders .
Your home is our most
valued possession , a haven of
safety . But is it really
as safe as we
would like to believe ?
We at Bajaj Allianz
realize your need
to make your home
as secure in reality
as it in
your mind . This is why we
bring to you the House – Holders
Insurance policy designed to
cover various
risk and contingencies faced by householders under a single
policy . It provides

protection for property and interests
of the insured and
his family members
who permanently reside with the insured . A householders
insurance , protects
not just your flat but
also your domestic and
electronic appliances .
Features .
1. Very competitive premium rates .
2. First loss basis option for burglary and jewellery .
3. Flexible rating for personal accident of the insured .
4. No valuation certificate is required for jewellery upto Rs. 2 lacs .
5. Assembled computers can also be covered under EEI .
Benefits .
1. No strains on pockets of insured .
2. Saving on cost .
3. Customized cover can be opted by the insured .
4. Save on time while proposing .

5. Same policy addressing varied needs .
Advantages .
2. Complete coverage at reduced premium .
3. Client needs being addressed .
4. Simple and quick documentation .
5. Related items get covered under respective sections .
2. Shopkeepers Insurance
Shopkeepers Package : Bajaj Allianz shopkeeper package protects your
shops against all risks .
Features .
1. Comprehensive package by a single policy .
2. Uniform rate for money insurance .

4. Coverage for business interruption .
5. Covers for damage to data media , software and cost of recovery
of lost data .
Benefits .
1. All the insurance requirements are addressed by a single policy .
2. Saving on cost .
3. Less time spent in fulfilling procedural requirement .
4. Smoot functioning of the business .
5. One stop shop / solution for the clients business related need .
Advantages .
2. Complete coverage at lower premium .
3. Simple documentation .

4. Covers for unanticipated loss .
5. All needs of the client get addressed in a single policy .

METHODOLOGY
At Bajaj Allianz General Insurance Company Limited recruiting agents is
a month basis process . The recruiting of agent is generally a cumbersome
task but if someone follow the basic rules and regulation it becomes
a child work .
When I was recruiting the agents , I followed the same process .
In agents
recruiting program there are various predefined steps .
After taking interview and judging the potential of the person to become
an advisor / agent the following process will start :
1. Batch Cut Off Date : This is the date from which the training batch
commences given to the persons selected through interview .
2. Agent Comfort Zone : Before starting of each session of a batch
2 to 3 hrs given to interact with each other with a view to
develop their
interactive skill .

3. Training Period : Now after the interactive skill the basic training of
20 days for 100 hrs commences . During this training period each
and
every important and related concepts of insurance are taught and discussed.
4. Bajaj Allianz’s Origin : Under this process we represents the history
and the long pathway of the Bajaj Allianz . It is the most important
section from company point of view . It helps the agents to understand
us deeply and to familiarize with our workings .
5. IRDA Test : There is a common test and interview conduct by the
Insurance Regulatory & Development Authority ( IRDA ) to get the
Agency License to work as an insurance agent a person must have to pass it.
6. Agency Attachment : This is the last step , under this process every
person / agent who has passed the IRDA test now be attached with a
senior employee of the company who guide him / her and also stands
with them for their business advancement . The senior employee always
hone the agents ability and skills at regular intervals . They taught them
the product selling skills and effective communication methods .

This is the whole process or methodology adopted by us for recruiting
agents . Besides this I also sells the company’s product’s at a large volume
but for selling there is no any specific method or formula , so I used my
own skills and methods to do the selling process .
----------------------------------------XXX----------------------------------------

CONCLUSION
In today’s scenario agent’s work
profile is not counted as a prestigious work
.
The nature of life
insurance is a
voluntary . The distribution of insurance
is
taking a new channels like internet , banks , post office’s etc .
The role of the Generation
Next insurance advisor cum financial
consultant ,
today’s agent has a professional outlook , is more techno savvy , is in a
position to satiate the hunger
for custom made policies that were never
heard
of and believe prompt customer service is the
key to success .
Educating the people regarding insurance as a profession is the first step.
And before giving this rewarding career , exact segment of people who is in

requirement of this
career is to be discovered . In
other words , this work of
expanding distribution
channels requires constant evolution
as these agents
are the foundation of an insurance company .
Agents are no
more the undergraduate pert
- timer of yesteryears
that only
aimed at pocketing an
attractive first year commission and gave
scant regard
to customer service
but a thoroughbred
professional , an MBA perhaps . So

recruitment of these educated
people is altogether a challenging job . Initially
this is a commission based job
which further complicates
the things for post
graduate people . Along with monetary gain , rewards and recognition is
another incentive which motivates all group of people to opt for a
particular career .
The insurance sector is
witness to cut throat competition
in the market , and
insurance companies have realized the importance of prompt
customer
service . Insurance agents will no more be able
to afford a laid back
attitude . They will have to be on their toes catering to the growing
customer needs and serving them always , for his future business and
growth . This will help him to tap the untouched market of India .
----------------------------------------XXX----------------------------------------

iously this project is a
thank you to two of my guides who
were powerful
model . I am deeply grateful & debtful to my respected faculty
guide Professor
Mr. S K Sharma for his impeccable and inexorable guidance and my company
guide Mr. Alok Saini who guided and
helped me from day one and whose
Enthusiasm and energy transformed my effort to this project into reality , who
is icon for his branch . Your commitment and sense of mission moves me.
I express special thanks :
1. To the all staff of Bajaj Allianz General Insurance Co. Ltd. who
graciously helped me in all possible ways .
2. To all the faculty of OJAS Institute of Management , Rohini , Delhi for
their kindness who never hesitate to help me.
And last but not least , I thank my family and friends , who were my steady
Support all the time .
NAVNEET KUMAR

Bajaj allianz general insurance company limited

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