LIVE PROJECT

AT
Bajaj allianz

PART- A
ON- THE JOB TRANING

INTRODUCTION:
My On the- job training is To generate two polices during the duration
of whole project.
The company will be assigning a target of
collecting data base of prospective customers during these Six
months. Now I have undergone IrDA training sections in my
company and I am in process to apply my concepts of insurance
which in turn helps me to make a deal with the customers that are
upcoming. Our job is collecting the customer related database and
selling various types of insurance policies to them and giving it to
Company. I am doing my project under a company guide Mr. Vijay
bhaskar reddy.
My company people are showing us the potential
Customers we need to communicate with them and at last we have to
make a deal with them. My, theoretical knowledge is helping me a lot
in convincing the customers and collecting the information about the
customer.

OBJECTIVES:
1. To sell different insurance products of bajaj alliance.
2. To create awareness among the customers about different
policies of bajaj alliance.

TARGET\ TASKS:

Sell at least 2 insurance polices during the project.

Tele calling.
Fixing appointments.
Closing the sale.

STRATEGY:
To achieve a goal successfully one needs to develop a roadmap
of the destination. My plan to achieve the target set by bajaj allianze
Identifying the prospect: - At this stage we dont have any contact with
the customer and in this stage we have to identify the potential
customer his needs preferences and his investment habits.
Qualifying the prospect: After identifying the customer we have to find
whether the customer has an immediate or distant need to be
satisfied.
Generating the leads: A potential prospect is going to buy the product.
Whether the lead may be a person, organization, and event,
Associations etc.
Approach: In this stage we make an initial contact with the potential
customer and tries to find out his needs. This is a foundation for
getting an appointment from the customer. And next is building
rapport with the customer and generating an interest in him for the
product.
Closing: In this stage we ask the potential customer to make the
purchase is known as closing.
Follow up: The objective of this stage is to ensure repeat sales. This
can be achieved by enhancing customer satisfaction. Where we aims
to maintain a long-term relationship with the customer.

Achievements:

Under gone IrDA training sections in bajaj allianz.

PART B
OFF THE JOB TRANING

OBJECTIVES:
To find out how they customer expectation market to sell their
various products.
To know about the various products of bajaj allianze.
To know about the three cs of company.
To know about the various costs those are involved in bajaj
allianz.
To know about the actual performance with that of expected
performance.
To know about the preventive measures that are taken if any
deviation takes place with that of expected performance.

CUSTOMER EXPECTATIONS
Customer expectation are based on customer experience with the
product or service, feedback received from friends, colleagues and
relatives or may be based on their present needs.
Customer service expectations can be measure along five
dimensions of service quality they are
Assurance
Empathy
Reliability
Responsiveness
Tangibles
In bajaj allinaz customer expectations are very high
because has its giving very good rate of return in a short
period of time, When compare to all private insurance
sector.
So it is a challenge for Bajaj allinaz to often the
services more then its other competitors .the main
advantage of bajaj allinaze is in very less time it has
captured the 28% market share just because of the services
they are offering to there customers.

And we can also see that there various types of policies that
suits for every segment in the market. The customer
expectations from the bajaj allianz

Various types of cost involved in bajaj allianze:

Types of costs involved in bajaj allianz:
It is very difficult to define the term cost
Cost is the amount of expenditure incurred or attributed to a given
thing .cost classification is the process of grouping costs according to
their common characteristics.
Costa can be classified according to their nature i.e.material,
labour&expenses &other characteristics.
In bajaj allianz mainly 5 types of costs are found
1. Direct cost:
Costs that can be allocated to a particular product/service or cost
centre or cost unit are called direct costs/expenses.
2. Indirect costs:
Costs that cannot be allocated to a particular service or cost centre or
cost unit are called indirect cost.
3. Fixed cost:
They remain fixed in total with increase or decrease in the volume of
out put or activity for a given period of time or a range of output.
Fixed cost per unit varies inversely with the volume of production.
4. Variable costs: they vary in total directly in proportion to the volume
of output. These costs per unit remain relatively constant with change
s in volume of production or activity.
5. Semi variable costs:
These costs are partly fixed and partly variable.
The above are the various types of costs that are seen in bajaj allianz

Various types of cost involved in bajaj allianze:

Normally Direct Costs

Normally Indirect Costs

Salaries, wages, fringe

benefits, such as: principal
investigator, faculty, research
assistant, research associate,
scientist, technician, post doc,
graduate research assistant,
other

Administrative and clerical salaries, wages, fringe benefits,

such as: fiscal officers, accountant, department
administrator, administrative staff officer, secretary, staff
assistant

Express service for overnight, Express service for routine delivery of project material or
federal express, US Postal
report
Priority Mail, UPS, freight,
delivery when needed to
transport project material or
report in a non-routine manner
Postage for mailing a large
quantity of questionnaires,
research surveys to
accomplish the goals of the
project

Postage (routine correspondence pertaining to sponsored

project)

Printing to produce bound

Printing, reproduction, photocopying
manuals or print projectrelated manuscripts and large
reports. Duplicating, page
charges, reprints, reference
materials
Organizational Membership
Books and Subscriptions
Scientific computer software
Scientific computer directly
related to the project

Computer software and supplies (general purpose such as

word processing, spreadsheet programs, diskettes, toner
cartridges, printer paper)
General office supplies, paper, pencils, pens
transparencies, tablets, staples, files, folders, binders, etc.

Telephone charges long

distance

Telephone charges basic line charge, pagers, local calls,

voice mail, (cellular phones unless project-related field
work phone

Fixed costs

Variable costs.

Yellow pages

Electricity to operate a roller table

Loan payment., Taxes and fees

Office managers salary
Grants for safety equipment

Semi

Supplies (forms, covers, etc.

Electricity to operate system.
Collections costs (stamps, invoices, etc.)

variable costs:
Telephone expenses.
Depreciation
Repairs
Maintenance of building, plant etc.

CONTROL SYSTEM IN BAJAJ ALLIANZ

A control system is a set of formal and informal systems to
assist the management in steeling the organization towards its goals.
The purpose of the control system is to maintain the desired stake.
Information about the control system is to maintain organization is
compared with the derived stake and if there is a significant difference
of deviation, preventive measures or actions are taken.
1.planning the activities of an organization :
In this stage the management of Bajaj Allianz decides what the
organization should do, i.e. Objectives or tougher are set by the top
management
2.coordinating the activities of Bajaj allianz :
After setting the activities the top mgt will check the
feasibility. Control systems are designed to bring about unity of
purpose for each & every branch operating in different plan.
3. Communicating information to different levels of hierarchical
structure:
Targets of each branch are a premium of 5 lakhs of premium
per month &50 lakhs of premium is set target of head office to
different branches. This information about the targets is communicated
to different branches.
4. Evaluating information & deciding the action to be taken:

The top management of bajaj allianz will gather information

whether the set targets are achieved by the different branches or not.
If they have achieved by the targets then they will receive incentives
in terms of rewards &awards .if they have not achieved the set of
targets then the corrective action should be taken by evaluating or
finding the reason for the failure, but in bajaj allianz especially in
khammam branch the set targets are reached and they have great
business specially in the months of jan, feb, march & April, as it is a
peak period.
5. Influencing people to change their behavior :
The sales managers or branch managers should give training to their
financial consultants in term of convincing the customer, negotiating
skills in order to get business out of the customers .managers usually
operate in situations of uncertainty & control system ensure that
proper actions are taken whenever needed in order to reach their
targets.

Three cs of bajaj allianz

Company profile
Kamesh Goyal is the CEO of Bajaj Allianz General Insurance Company
Limited, who was elevated from his earlier position of COO.
Sam Ghosh, who was the CEO of Bajaj Allianz earlier has taken over as
Country Manager and is also the CEO of Bajaj Allianz Life Insurance
Company Limited.
Bajaj Allianz General Insurance Company Limited is a joint venture
between Bajaj Auto Limited and Allianz AG of Germany. Both enjoy a
reputation of expertise, stability and strength.
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, AG,
Germany.
Bajaj Allianz today has a network of 42 offices 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.
Bajaj Allianz General Insurance Company 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

understanding of the local market and extensive distribution network
with the global experience and technical expertise of the Allianz Group.

Business & Customer Focus

Bajaj Allianz covers both Individual and Group Insurance

The company is placed 3rd among private Life Insurers in India as of

IRDA figures for FY premiums.
Focused on providing customized insurance solutions serving as both
Investment and Protection against risk. Realizing the great growth
potential in the coming years of the rural segment
Present in over 200 cities across India, with an agency network of
30,000 Insurance Consultants and a satisfied customer base of
approximately 300,000

Vision
To be the first choice insurer for customers
To be the preferred employer for staff in the insurance industry.
To be the number one insurer for creating shareholder value

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.

Our Achievements

Bajaj Allianz has received,"iAAA rating, by ICRA Limited, an

associate of Moody's Investors Services, for Claims Paying
Ability. This rating indicates highest claims paying ability and a
fundamentally strong position.
Indias Most Respected Companies The Business World's Most
Respected Companies survey 2006 ,has ranked "Bajaj Allianz
General Insurance, No.2 this year, in the insurance sector.

The various products that are offered by Bajaj Allianz

Asset insurance
Householders
Shop/Showroom Insurance

Health Insurance:

Health Guard
Hospital Cash
Critical Illness
Personal Guard

Travel insurance:

Travel Companion
Student Companion
Shubh Yatra
Travel Asia

Corporate Insurance :

Specialty Lines
Employee
Office
Business Manufacturing Unit

Profession insurance:

Consulting Engineers
Gururaksha
Architects
Interior Designer

Special insurance:
Wedding

Competitors for bajaj allianz:

1. In public sector

the national insurance

oriental insurance
united insurance
the new India assurance company.

2. in private sectors:

Cholomandalam general insurance co. ltd

Icici Lombard insurance co. ltd
Iffco Tokyo general insurance co.ltd
Reliance general insurance co.ltd
Royal sundaram general insurance co.ltd.
Tata aig general insurance co.ltd
Hdfc chubb general insurance co.ltd

Customers:
Two types of customers exits in bajaj allianz they are
Corporate customers
Retail customers.
Corporate customers are very low in number when compared to retail
customers but they generate very high premium for the company
there fore the company also designed to a lot of products to suit the
different needs of the corporate.
Corporate products: important corporate products of the company are
as follows:

Fir & special perils policy

Electronic equipment insurance policy
Consequential loss insurance policy
Money policy
Workmen compensation insurance policies
Motor vehicle insurance policy
Marine cargo policy

 Machinery breakdown insurance policy

Retail customers base of the company is very high this include general
public and small firms who insure with bajaj.Important retail products
which are designed to cater the needs of customers are
Health guard
Hospital cash
Critical illness
Personal accidents
House holders
Shop keepers
Office package
Travel companion
fire

COMPANY PROFILE

UTI Bank began its operations in 1994 when the Government of India allowed new
private banks to be established. The Bank was promoted jointly by the
Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life
Insurance Corporation of India (LIC) and General Insurance Corporation Ltd. and
its associates viz. National Insurance Company Ltd., The New India Assurance
Company, The Oriental Insurance Corporation and United Insurance Company Ltd.
UTI Bank Ltd. was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100
crore, LIC - Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore
each. The Bank's Registered Office is at Ahmedabad and its Central Office is located at
Mumbai.
Presently, the Bank has a very wide network of more than 420 branch offices and
Extension Counters. UTI Bank has a network of over 1841 ATMs, which is one of the
largest ATM networks in the country.

Consumer Loans
Power loan
Asset loan
Personal loam
Loans against Securities
Consumer loan
Study loan
Interest Rate Charts
Personal Advances

Housing Loan Scheme

Demand Loans Against Pledge Of

Gold Ornaments

Varun Mithra (Rain Water Harvesting

Scheme)

Overdraft Against Pledge Of Gold

Ornaments

Housing Loan For NRIs

Loans against NSCs/IVPs/KVPs

Personal Loan

Loans Against LIC And SBI Life

Educational Loan

Kanya Vivah Suvidha Scheme

Loan To Pensioners

Vanitha Gold Scheme

Scoom (Two Wheelers)

Purchase Of Cars

Personal Computers
Loan Against Term Deposit Receipts
Advance against Shares &
Debentures

Cash Key

NRI Services

Internet Banking

Personal Loan Scheme to NRIs

Non Resident Ordinary Account

Mortgage Loans to NRIs

Housing Loans to NRIs

Deposit Scemes

Term Deposits

Savings Bank

Rate of Interest on loans

Loan Type

Interest Rate%

Consumer Loans

14.75

Car Loans

13.00

Home Loans

9.25

Loan Against Securities

12.00

Educational Loan

12.00

The purpose of the product is to provide financial support to deserving students for
pursuing higher professional/technical education in India and abroad. The loan would
be provided to students who have obtained admission to career-oriented courses e.g.
medicine, engineering, management etc., either at the graduate or post-graduate level.
Quantum of Loan
The quantum of finance under the scheme is capped at Rs. 7.5 lakhs for studies in
India and Rs. 15 lakhs for studies abroad, which would cover tuition fees, hostel
charges (if any), cost of books, etc. The minimum amount of loan would be Rs.
50,000/-.

Expenses Considered for the Loan:

Fees payable to college/university/hostel
Examination/Library/Laboratory fees
Purchase of Books/Equipment/Instruments
Caution/refundable deposits supported by the Institutions bills/receipts
Travel expenses/passage money for studies abroad
Purchase of computers (when essential for the completion of the course)
Any other expenses required to complete the course, like study tours/project
work/thesis, etc.

Margin
No margin for loans upto Rs. 4 lakhs. For loans above Rs. 4 lakhs, 5% margin for
studies within India and 15% for higher studies overseas.
Rate of interest
At PLR, currently not exceeding 12% p.a.
Repayment
The loan would be repayable in a maximum of 84 instalments from the commencement
of repayment. The 1st instalment would be due 1 year after the completion of the
course or 6 months after getting a job, whichever is earlier. However the total tenure of
the scheme, i.e. from the date of the 1st disbursement to the date of the last instalment,
should not exceed 12 years. The periodical interest applied on the loan account, prior
to the commencement of the actual repayment, should be recovered from the account
of the co-applicant, as and when due
Role of the Guardian

The parent(s)/guardian of the student would be treated as a co-applicant of the loan.

His/her role would be, necessarily, like the primary debtor. He/she would be
responsible for the payment of the interest accrued on the loan account, prior to the
commencement of the EMIs.
Security
Third Party Guarantee: It is necessary to have a 3rd party guarantee agreement in
place, especially in cases where the loan would be not be secured by liquid collaterals
(e.g. Units, FDs, NSCs, paid-up LIC policies, etc.). The guarantor should not be a close
relation of the student (i.e. parents/siblings/spouse, etc.) and should be good for 100%
of the loan amount. No 3rd party guarantee need be insisted upon for loan upto Rs. 4
lacs. Computers and other related hardware financed under the scheme would have to
be, necessarily, charged to the Bank as primary security.
Collateral Security: Educational Loans sanctioned would need to be secured by
collateral securities, to the minimum extent of 100% of the loan amount. The
requirement of obtaining 3rd party guarantee need not be insisted upon in cases where
liquid securities adequately cover the total loan. Such collateral securities would
include

First or pari-passu charge on unencumbered land and building

Govt. Securities / PSU Bonds
Surrender value of paid-up insurance policies
Demat shares/securities
Units and other pledgeable securities like NSCs
Bank FDs
Other freely transferable securities like KVPs and IVPs
As in the case of 3rd party guarantee, no collaterals need be insisted upon for
loans upto Rs. 4 lacs.

Additional Security: In educational loans, since the ultimate exposure is on the

earning capacity of the student, post-completion of the course, it is essential to
organise a LIC policy assuring the life of the student, the sum assured being at least
100% of the loan amount. This policy should be assigned in the name of the Bank and
the Bank must ensure that the policy is kept alive during the currency of the loan. To
ensure this, the annual premium may be included in the computation of the loan
requirement, along with the tuition fees and other recurring charges. Further, the future
income of the student needs to be assigned in favour of the Bank for meeting the
instalment obligations.
Disbursement
The loan will be disbursed in full or in suitable instalments taking into account the
requirement of funds and/or fee schedule as assessed by the Bank directly to the
educational institution/ vendor of books/equipment/instruments to the extent possible
The purpose of the product is to provide financial support to deserving students for

pursuing higher professional/technical education in India and abroad. The loan would
be provided to students who have obtained admission to career-oriented courses e.g.
medicine, engineering, management etc., either at the graduate or post-graduate level.
Quantum of Loan
The quantum of finance under the scheme is capped at Rs. 7.5 lakhs for studies in
India and Rs. 15 lakhs for studies abroad, which would cover tuition fees, hostel
charges (if any), cost of books, etc. The minimum amount of loan would be Rs.
50,000/-.

Expenses Considered for the Loan:

Fees payable to college/university/hostel
Examination/Library/Laboratory fees
Purchase of Books/Equipment/Instruments
Caution/refundable deposits supported by the Institutions bills/receipts
Travel expenses/passage money for studies abroad
Purchase of computers (when essential for the completion of the course)
Any other expenses required to complete the course, like study tours/project
work/thesis, etc.

Margin
No margin for loans upto Rs. 4 lakhs. For loans above Rs. 4 lakhs, 5% margin for
studies within India and 15% for higher studies overseas.
Rate of interest
At PLR, currently not exceeding 12% p.a.
Repayment
The loan would be repayable in a maximum of 84 instalments from the commencement
of repayment. The 1st instalment would be due 1 year after the completion of the
course or 6 months after getting a job, whichever is earlier. However the total tenure of
the scheme, i.e. from the date of the 1st disbursement to the date of the last instalment,
should not exceed 12 years. The periodical interest applied on the loan account, prior
to the commencement of the actual repayment, should be recovered from the account
of the co-applicant, as and when due
Role of the Guardian
The parent(s)/guardian of the student would be treated as a co-applicant of the loan.
His/her role would be, necessarily, like the primary debtor. He/she would be
responsible for the payment of the interest accrued on the loan account, prior to the
commencement of the EMIs.
Security

Third Party Guarantee: It is necessary to have a 3rd party guarantee agreement in

place, especially in cases where the loan would be not be secured by liquid collaterals
(e.g. Units, FDs, NSCs, paid-up LIC policies, etc.). The guarantor should not be a close
relation of the student (i.e. parents/siblings/spouse, etc.) and should be good for 100%
of the loan amount. No 3rd party guarantee need be insisted upon for loan upto Rs. 4
lacs. Computers and other related hardware financed under the scheme would have to
be, necessarily, charged to the Bank as primary security.
Collateral Security: Educational Loans sanctioned would need to be secured by
collateral securities, to the minimum extent of 100% of the loan amount. The
requirement of obtaining 3rd party guarantee need not be insisted upon in cases where
liquid securities adequately cover the total loan. Such collateral securities would
include

First or pari-passu charge on unencumbered land and building

Govt. Securities / PSU Bonds
Surrender value of paid-up insurance policies
Demat shares/securities
Units and other pledgeable securities like NSCs
Bank FDs
Other freely transferable securities like KVPs and IVPs
As in the case of 3rd party guarantee, no collaterals need be insisted upon for
loans upto Rs. 4 lacs.

Additional Security: In educational loans, since the ultimate exposure is on the

earning capacity of the student, post-completion of the course, it is essential to
organise a LIC policy assuring the life of the student, the sum assured being at least
100% of the loan amount. This policy should be assigned in the name of the Bank and
the Bank must ensure that the policy is kept alive during the currency of the loan. To
ensure this, the annual premium may be included in the computation of the loan
requirement, along with the tuition fees and other recurring charges. Further, the future
income of the student needs to be assigned in favour of the Bank for meeting the
instalment obligations.
Disbursement
The loan will be disbursed in full or in suitable instalments taking into account the
requirement of funds and/or fee schedule as assessed by the Bank directly to the
educational institution/ vendor of books/equipment/instruments to the extent possible