HR POLICIES OF TATA

AIG

By:

Ashish Bhargav
Deepanjali Shuk
Nandita Kapoor
Somiya Sripriya
Sweta Behera
Rajat Mehrotra

TATA AIG INSURANCE

COMPANY

Tata AIG Insurance Solutions is one of the

leading insurance companies 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

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.

TATA AIG LIFE INSURANCE

COMPANY
Tata AIG Life Insurance Company was
licensed 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.

Human Resource Policies

Human resource policies are
systems of codified decisions,
established by an organization, to
support administrative personnel
functions, performance management,
employee relations and resource
planning.

Organizational Structure of
TATA AIG

Functions of the HR
Department of TATA AIG

Recruitment and Selection

Induction
Competence Development
Providing compensation and
other employee benefits
Performance Management
Talent and Career Management

Sources of Recruitment

Placement Agencies and Consultants

Campus Recruitments
Off-campus Recruitments
Internal Job Postings
Promotions(existing employees)
Moving across verticals(existing
employees)

Selection Process
There is a screening process based
on the resumes of applicants
followed by group discussion and
personal interview.

Types of Employees
TATA AIG has both permanent
employees as well employees on
contract basis.
Both are on company pay rolls.
Company employs financial
advisors who are not on company
pay roll but work on commission
basis.

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

Compensation of
Employees

Basic- 30% of annual salary

Bonus(yearly)
HRA
Medical Allowance
Conveyance Allowance
Other Allowance(Food, mobile phone
bills, etc.)

Benefits apart from

salary

Mediclaim
Superannuation benefits
Performance bonus
Incentives

Measuring Employee
Performance

Goal Sheet
Target Achievement
Quality of work
Ethics used in target achievement
Customer satisfaction

Training and
Development of
Employees
Company conducts on-the-job training(OJT)
programs for its employees.
Functional programs- for expertise in respective domain.
Talent Acceleration programs- improving soft skills

Eligibility Criteria: voluntarily by self nomination

or when nominated 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

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 a sale.

Special Motivational
Programmes
Friday Movie Mania
Recharge zone
Sports Club
Annual Theme Party
Celebration Week
Town Hall
World of Work(WOW)

Rewards and Recognition

for employees
The Success Matrix is a programme where
they recognize the performance and
contribution of employees through timely
measures. This was inspired by the mythological
theme of Greek Gods combined with the
blockbuster "The Matrix.
consists of three categories for recognizing
Individuals, Teams on a Monthly, Quarterly & Annual
basis as well as SPOT Recognition.
recipients are acknowledged for their contribution
though Awards and citations displayed on the "Wall of
Fame" at all the branches.

Grievance Redressal
There is no proper grievance cell
but they have a Disputes
Settlement Department within the
organization which looks after
settling issues among employees or
any complaints of the employees.

Employee Health and

Safety Measures

Fire Alarms and Extinguishers

Sprinklers
First-aid boxes
Mediclaim
Accident benefits
Insurance cover for whole family

Employee Retention
Strategy
Career Progression Programmes
Various motivational measures and
programmes for employees as well as
their family members.
Performance based appraisal
Performance based work culture
Provides work-life balance

Equal Opportunity
Employer
TATA AIG does not
discriminate between men
and women while employing
people. Men as well as women
are considered equally even if
a particular job is very
challenging and difficult.
It also provides employment
to physically disabled people.

Conclusion
Tata AIG offers exciting opportunities to learn,
contribute and build careers. As a leading
name in the fast-paced insurance industry,
they are constantly growing and are always in
search of bright talent across all levels. The
Company's philosophy is strongly oriented to
developing talent through larger and more
enriching assignments. They recognize
potential and consistent performance and
their dynamic corporate culture can be
summed up as Work hard, play hard.