3.1Inactivity is defined as
In TATA AIG inactivity is defined as an agent’s inability to bring any policy for the last 4 months and a warning letter would be sent regarding cancellation of the license. The agent is then referred to as inactive. From time to time TATA AIG changes the criteria of inactivity.
3.2 Analysis of activity ratio of Agents at NOIDA Branch
TATA AIG Branch NOIDA was established in the year 2000, since then it has been continuously increasing its number of advisors but with a slow pace. Presently it has 391 advisors with an activity ratio of 18.15% which is below the average activity ratio of TATA AIG branches in the NCR
Activity ratio of the agents in TATA AIG branch NOIDA is low as compare to the industrial average in NOIDA region
Data source-TATA AIG NOIDA
In a comparative study of different branch of NCR it is found that the the activity ratio of the agents in NOIDA branch is much less than other branches .Noida branch is performing slightly better than Gurgaon branch but still it is far away from Rohini branch.
In the survey it has been seen that among the inactive agents the number of agents who are working part time is more this represents that agents who are devoting full time are more active then agents who are working part time. Survey represents that 82%of the inactive advisors are doing part time where as only 18% are doing full time but still not able to be active, so for them working full time cannot be a reason for inactivity. But for 82% who are doing it part time this can be a reason of inactivity because to be active it requires lot of effort and time.
As compared to the industrial average in Noida region, TATA AIG’s Noida branch activity ratio is a bit low. Industry’s average activity in Noida region is 33% as compared to the18.15% Activity ratio of TATA AIG Branch
Among the inactive agents 77% of the agents have less than 3 year experience as an agents. It shows that the drop out rate of the agent is more in the initial years of their working.
Slow progress regarding recruitment of agents with average activity is a cause of worry for the managers .This directly results in less number of policies being sold as Life Insurance Company works on the principle of large numbers.
Inactivity of an agent is ultimately a loss to the company as company puts its money on agents training and giving them other benefits.
Inactive agents create bad name for the company and other active agents get depressed by such advisors.
Inactivity results in high attrition rate. A non performing agent has more chances to leave the company which in turn wastes all l the efforts put in by the company.
In TATA AIG inactivity is defined as an agent’s inability to bring any policy for the last 4 months and a warning letter would be sent regarding cancellation of the license. The agent is then referred to as inactive. From time to time TATA AIG changes the criteria of inactivity.
3.2 Analysis of activity ratio of Agents at NOIDA Branch
TATA AIG Branch NOIDA was established in the year 2000, since then it has been continuously increasing its number of advisors but with a slow pace. Presently it has 391 advisors with an activity ratio of 18.15% which is below the average activity ratio of TATA AIG branches in the NCR
Activity ratio of the agents in TATA AIG branch NOIDA is low as compare to the industrial average in NOIDA region
Data source-TATA AIG NOIDA
In a comparative study of different branch of NCR it is found that the the activity ratio of the agents in NOIDA branch is much less than other branches .Noida branch is performing slightly better than Gurgaon branch but still it is far away from Rohini branch.
In the survey it has been seen that among the inactive agents the number of agents who are working part time is more this represents that agents who are devoting full time are more active then agents who are working part time. Survey represents that 82%of the inactive advisors are doing part time where as only 18% are doing full time but still not able to be active, so for them working full time cannot be a reason for inactivity. But for 82% who are doing it part time this can be a reason of inactivity because to be active it requires lot of effort and time.
As compared to the industrial average in Noida region, TATA AIG’s Noida branch activity ratio is a bit low. Industry’s average activity in Noida region is 33% as compared to the18.15% Activity ratio of TATA AIG Branch
Among the inactive agents 77% of the agents have less than 3 year experience as an agents. It shows that the drop out rate of the agent is more in the initial years of their working.
Slow progress regarding recruitment of agents with average activity is a cause of worry for the managers .This directly results in less number of policies being sold as Life Insurance Company works on the principle of large numbers.
Inactivity of an agent is ultimately a loss to the company as company puts its money on agents training and giving them other benefits.
Inactive agents create bad name for the company and other active agents get depressed by such advisors.
Inactivity results in high attrition rate. A non performing agent has more chances to leave the company which in turn wastes all l the efforts put in by the company.