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TATA AIG INSURANCE COMPANY

Tata AIG Insurance Solutions is one of the leading insurancecompanies that provide both life insurance as well as general insurance.

Joint collaboration between the American International Group, Inc.

(AIG) and Tata Group.

They own the company in the ratio of 26:74.

It is a leading financial institution that has carved a niche for itself all

over the world.

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TATA AIG GENERAL INSURANCE

COMPANY Tata AIG General Insurance Company started

its operations in India on January 22, 2001,

Gaurav D. Garg is the Managing Director& CEO, Tata AIG General Insurance

Co. Ltd.

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TATA AIG LIFE INSURANCE COMPANY

Tata AIG Life Insurance Company waslicensed to operate in India on February 12,2001 and started operations on April 1, 2001.

Mr. Suresh Mahalingam, (M. Suresh) , MD,

Tata AIG Life Insurance Company.

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Human Resource Policies

Human resource policies are systems of codifieddecisions, established by an organization, tosupport administrative personnel functions,performance management, employee relationsand resource planning.

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Organizational Structure of

TATA AIG

CEO

4 Zonal Heads( EastWest, North, South)

Regional Head

Area or Cluster Manager

Branch Managers

Unit Manager

Financial Advisors

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Functions of the HR

Department of TATA AIG

Recruitment and Selection

Induction

Competence Development

Providing compensation and otheremployee benefits

Performance Management

Talent and Career Management

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Sources of Recruitment

Placement Agencies and Consultants

Campus Recruitments

Off-campus Recruitments

Internal Job Postings

Promotions(existing employees)

Moving across verticals(existing employees)

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Selection Process

There is a screening process based on theresumes of applicants followed by groupdiscussion and personal interview.

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Types of Employees

TATA AIG has both permanent employees aswell employees on contract basis.

Both are on company pay rolls. Company employs financial advisors who are

not on company pay roll but work oncommission basis.

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Career Options at TATA AIG

Sales & Distribution Customer Service

Branch and Centralized Operations

Underwriting & Actuarial Functions Claims

IT

Marketing & Communications

Finance & Accounts / Legal

Human Resources and Training & Development

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Compensation of Employees Basic- 30% of annual salary

Bonus(yearly)

HRA Medical Allowance

Conveyance Allowance

Other Allowance(Food, mobile phone bills, etc.)

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Benefits apart from salary

Mediclaim

Superannuation benefits

Performance bonus

Incentives

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Measuring Employee

Performance Goal Sheet

Target Achievement

Quality of work

Ethics used in target achievement

Customer satisfaction

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Training and Development of

Employees

Company conducts on-the-job training(OJT) programs for itsemployees.

Functional programs- for expertise in respective domain.

Talent Acceleration programs- improving soft skills

Eligibility Criteria: voluntarily by self nomination or whennominated by the branch managers.

Duration: Monthly or Quarterly or Weekly depending upon

product and requirement. E-learning courses and Insurance Institute of India courses.

Career progression programmes

Leadership Development ladder

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Motivating Employees

Motivational training programmes

Providing Incentives

Recognition to employees Providing sponsored holidays for employees

and their family

Helping them in converting a prospect into asale.

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Special Motivational

Programmes Friday Movie Mania

Recharge zone

Sports Club

Annual Theme Party

Celebration Week

Town Hall

World of Work(WOW)

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Rewards and Recognition for

employees

The Success Matrix is a programme where theyrecognize the performance and contribution ofemployees through timely measures. This was

inspired by the mythological theme of GreekGods combined with the blockbuster "TheMatrix. consists of three categories for recognizing

Individuals, Teams on a Monthly, Quarterly & Annualbasis as well as SPOT Recognition.

recipients are acknowledged for their contributionthough Awards and citations displayed on the "Wall ofFame" at all the branches.

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Grievance Redressal

There is no proper grievance cell but theyhave a Disputes Settlement Departmentwithin the organization which looks aftersettling issues among employees or anycomplaints of the employees.

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Employee Health and Safety

Measures

Fire Alarms and Extinguishers

Sprinklers

First-aid boxes Mediclaim

Accident benefits

Insurance cover for whole family

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Employee Retention Strategy

Career Progression Programmes

Various motivational measures and

programmes for employees as well as theirfamily members.

Performance based appraisal

Performance based work culture

Provides work-life balance

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Equal Opportunity Employer

TATA AIG does not discriminatebetween men and women whileemploying people. Men as well as

women are considered equallyeven if a particular job is verychallenging and difficult.

It also provides employment tophysically disabled people.

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Conclusion

Tata AIG offers exciting opportunities to learn,contribute and build careers. As a leading name inthe fast-paced insurance industry, they areconstantly growing and are always in search ofbright talent across all levels. The Company'sphilosophy is strongly oriented to developing talentthrough larger and more enriching assignments.

They recognize potential and consistentperformance and their dynamic corporate culturecan be summed up as Work hard, play hard.

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