HR POLICIES OF TATA AIG

By:
VISHAL OVHAL
 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 carved a niche

for itself all over the world.
 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
CEO

4 Zonal Heads( East

West, North, South)

Regional Head

Area or Cluster Manager

Branch Managers

Unit Manager

Financial Advisors
 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
• Leadership Development ladder
 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”.