Inactivity of Agents of TATA
Commission and other benefits
To make agents active the monitory benefit can affect a lot .In place of giving the hefty commission at the first year of policy, if it is divided in the whole policy period it can induce them to work in coming year otherwise they can’t get their future commission.
Other thing can be done is to fix a certain salary amount after fulfilling a criteria for example after 5 year work as an advisor or reaching a certain target in the form of premium.
Those who are continuously working as an agent from last 4 or more year should not have the same criteria for inactivity as for a new license agent the experienced one must get more relaxation.
Administration and Management
In TATA AIG’s agency model there are two authorities who are giving guidelines to the agents because of this agent gets confuse and because of pressure he is unable to work
Manager BA
Agent
The authorities must be clearly defined. There is also a communication gap among agent BA and manager it must be in a right flow otherwise nobody can perform up to his/her capability.
Manager BA Agents
Administration is too much rigid regarding rules and regulations it makes agents and clients uncomfortable. There must be some liberation regarding documentation.
Training
Through survey it was found that the agents are lacking the product knowledge and also the skills which are required to sell the insurance product. Some advisor even complained regarding language so the lecture and the training must be in the mix form of Hindi and English according to the convenience of the agents.
The trainer must be interactive and must try to solve the queries of the agents. The training must have practical aspect the training must not be limited up to the product knowledge. In the class room the comparative analysis of the product and USP (unique selling point) must be shared among agents.
Experienced agents must be given chance to give training it will boost up their confidence and it will be a change for them.
Function and seminar and awards
To make agents active continuous communication among agents and managers is required. For that branch should organize functions and seminar in which agents are given opportunity to share their query and experience with manager. This practice will help them to realize that they are the part of the organization.
For different achievement there must be certain awards like maximum premium collection in a month or most consistence performance in a year.
There must be motivational session from time to time .Its effect will be shown in long term.
Infrastructure and back office support
In selling a policy many phone calls are made by the agents to take appointment. To make these calls an agent must have the skills of telephonic conversation. To improve this skill company must call some specialist tele-caller to train them.
Manny agents face problem when their natural market gets over for them if initially company provide some data base for appointment and also instruct them how to get data it will help them to continue their agency work
Commission and other benefits
To make agents active the monitory benefit can affect a lot .In place of giving the hefty commission at the first year of policy, if it is divided in the whole policy period it can induce them to work in coming year otherwise they can’t get their future commission.
Other thing can be done is to fix a certain salary amount after fulfilling a criteria for example after 5 year work as an advisor or reaching a certain target in the form of premium.
Those who are continuously working as an agent from last 4 or more year should not have the same criteria for inactivity as for a new license agent the experienced one must get more relaxation.
Administration and Management
In TATA AIG’s agency model there are two authorities who are giving guidelines to the agents because of this agent gets confuse and because of pressure he is unable to work
Manager BA
Agent
The authorities must be clearly defined. There is also a communication gap among agent BA and manager it must be in a right flow otherwise nobody can perform up to his/her capability.
Manager BA Agents
Administration is too much rigid regarding rules and regulations it makes agents and clients uncomfortable. There must be some liberation regarding documentation.
Training
Through survey it was found that the agents are lacking the product knowledge and also the skills which are required to sell the insurance product. Some advisor even complained regarding language so the lecture and the training must be in the mix form of Hindi and English according to the convenience of the agents.
The trainer must be interactive and must try to solve the queries of the agents. The training must have practical aspect the training must not be limited up to the product knowledge. In the class room the comparative analysis of the product and USP (unique selling point) must be shared among agents.
Experienced agents must be given chance to give training it will boost up their confidence and it will be a change for them.
Function and seminar and awards
To make agents active continuous communication among agents and managers is required. For that branch should organize functions and seminar in which agents are given opportunity to share their query and experience with manager. This practice will help them to realize that they are the part of the organization.
For different achievement there must be certain awards like maximum premium collection in a month or most consistence performance in a year.
There must be motivational session from time to time .Its effect will be shown in long term.
Infrastructure and back office support
In selling a policy many phone calls are made by the agents to take appointment. To make these calls an agent must have the skills of telephonic conversation. To improve this skill company must call some specialist tele-caller to train them.
Manny agents face problem when their natural market gets over for them if initially company provide some data base for appointment and also instruct them how to get data it will help them to continue their agency work