An advisor generally becomes inactive when s/he doesn’t have the interest in work which s/he is doing or is dissatisfied with provision/ treatment or any other thing in the company which makes him/her uncomfortable physically and mentally as well.
Considering these facts a survey has been done in which various questions were asked regarding satisfaction of agents in the organization and came to know the following-
4.1To work as an advisor
Working as an advisor in any company is still a tough task to do but less as compared to the early days when people were totally unaware about insurance. Booming economy and globalization helped a lot to increase the awareness regarding insurance, there was an era when people escaped from advisors and that image of agent still has some existence in society.
Presently 16 companies are working in life insurance sector and for them increasing their sales channel is an up hill task to achieve. In such a scenario they are trying hard to increase their network. Some time some people join as an advisor not by their own willingness but because of friends who are already an employ or agent in the insurance company. So without there own will a person can’t perform and ultimately will become in active.
When the question that did you join organization with your own will was asked to the inactive advisors,
96% of the advisors joined it with their own will, only 4% has joined it unwillingly. This shows that in TATA AIG branch NOIDA people are not pressurized by the company to join the organization people join it with their own will. The problem of inactivity does not exist in the willingness of the agent. Most of the agents join the organization with their own will.
4.2 Regarding Training
In any life insurance company, training of agent is an important factor training not only gives the product knowledge but also helps the agent in confidence building. Insurance is a sensitive financial tool for an individual because an individual puts his hard earned money on such a product which he can’t see .In such a case to provide the right product to an individual according to his need is a work which can’t be done without proper training. Training must be such that a person must develop the confidence regarding product knowledge and also about insurance. Without proper training a person will not be able to convince a client to purchase a policy .Non performance results in inactivity of agents.
In the survey it was asked that are you satisfied with the training given by TATA AIG . 64% of the inactive advisor responded positively whereas 14% responded negatively and 22% were satisfied up to certain extent. It shows that a big group of agent is satisfied with training but still 14% who are not satisfied with the training is also cause of worry because default in training should not be a reason for nonperformance of agents. Every company is spending so much money in the training to improve the skills of their advisor in such case no company can comprise with the training procedure.
Agents who responded negatively have given following reason of their dissatisfaction-
• In class the trainer mostly interacts with agents or deliver his\her lecture in English which is difficult for them to understand
• Trainers are less interactive with agents
• Training is given without considering the market competition. There must be comparative analysis of the product and must be told about products Unique Selling Point(USP)
4.3Satisfaction regarding infrastructural support
In today’s scenario every company required good infrastructure to compete with their opponent. In such case no company compromises with the infrastructure support given to the agent. Basic thing which are required to give the agents are the browser of various products, necessary stationery items like pen, note .In TATA AIG branch NOIDA agents are also getting their cabin and telephone to take appointment from client apart from this company is also providing computer set to calculate the premium of various policy and take detailed knowledge of the product. Printer is also provided to get the print of any information which is required to convince the client.
In the survey most of the agents were satisfied with the infrastructure support given by TATA AIG.77% agents said they are satisfied with the infrastructure support given by the company .14% were not at all satisfied with the infrastructure support .9% were satisfied up to certain extent with the infrastructure. The results are giving due attention on the infrastructural support given to the agents
4.4 Regarding Support given by BA and Managers-
In TATA AIG there are two authorities who provide support to the agent. In TATA AIG a BA can have a team of minimum 15 agent and to give support to these BAs a BA manager is there.
In the study it is found that only 45%inactive advisor are satisfied with the support given by BA and managers.23% of the inactive agents are not at all satisfied with there support whereas 32%are satisfied up to certain extent. Result shows that most of the inactive are not fully satisfied with the support given by managers and BAs this can be one of the reason of inactivity because the motivation which they required they are not getting from their managers and BAs
In the agency model of TATA AIG agent gets direction from two source one is BA and other is Manager because of this he gets confuse and unable to perform. There is also a communication gap between agent and manager that is why they become inactive .In interaction with inactive agents they are not satisfied with the support of managers.
4.5 Regarding commission
In TATA AIG Branch Noida as far as timely and regularly payment of commission is concerned most of the inactive advisors are satisfied. They are satisfied with commission structure of TATA AIG branch NOIDA.
As far as the study of satisfaction regarding commission is concern 59% are fully satisfied with the commission. There are 14% inactive Agents who are not at all satisfied with commission where as 27% are satisfied up to certain extent. Among the agents they responded that a fix sum of money is paid to the advisor can help them to make there career as can advisor without a fix sum of are earning they are force to be inactive as an agent .Lack of fix source of earning force them to do the work as part time and working as agent part time make them inactive.
Considering these facts a survey has been done in which various questions were asked regarding satisfaction of agents in the organization and came to know the following-
4.1To work as an advisor
Working as an advisor in any company is still a tough task to do but less as compared to the early days when people were totally unaware about insurance. Booming economy and globalization helped a lot to increase the awareness regarding insurance, there was an era when people escaped from advisors and that image of agent still has some existence in society.
Presently 16 companies are working in life insurance sector and for them increasing their sales channel is an up hill task to achieve. In such a scenario they are trying hard to increase their network. Some time some people join as an advisor not by their own willingness but because of friends who are already an employ or agent in the insurance company. So without there own will a person can’t perform and ultimately will become in active.
When the question that did you join organization with your own will was asked to the inactive advisors,
96% of the advisors joined it with their own will, only 4% has joined it unwillingly. This shows that in TATA AIG branch NOIDA people are not pressurized by the company to join the organization people join it with their own will. The problem of inactivity does not exist in the willingness of the agent. Most of the agents join the organization with their own will.
4.2 Regarding Training
In any life insurance company, training of agent is an important factor training not only gives the product knowledge but also helps the agent in confidence building. Insurance is a sensitive financial tool for an individual because an individual puts his hard earned money on such a product which he can’t see .In such a case to provide the right product to an individual according to his need is a work which can’t be done without proper training. Training must be such that a person must develop the confidence regarding product knowledge and also about insurance. Without proper training a person will not be able to convince a client to purchase a policy .Non performance results in inactivity of agents.
In the survey it was asked that are you satisfied with the training given by TATA AIG . 64% of the inactive advisor responded positively whereas 14% responded negatively and 22% were satisfied up to certain extent. It shows that a big group of agent is satisfied with training but still 14% who are not satisfied with the training is also cause of worry because default in training should not be a reason for nonperformance of agents. Every company is spending so much money in the training to improve the skills of their advisor in such case no company can comprise with the training procedure.
Agents who responded negatively have given following reason of their dissatisfaction-
• In class the trainer mostly interacts with agents or deliver his\her lecture in English which is difficult for them to understand
• Trainers are less interactive with agents
• Training is given without considering the market competition. There must be comparative analysis of the product and must be told about products Unique Selling Point(USP)
4.3Satisfaction regarding infrastructural support
In today’s scenario every company required good infrastructure to compete with their opponent. In such case no company compromises with the infrastructure support given to the agent. Basic thing which are required to give the agents are the browser of various products, necessary stationery items like pen, note .In TATA AIG branch NOIDA agents are also getting their cabin and telephone to take appointment from client apart from this company is also providing computer set to calculate the premium of various policy and take detailed knowledge of the product. Printer is also provided to get the print of any information which is required to convince the client.
In the survey most of the agents were satisfied with the infrastructure support given by TATA AIG.77% agents said they are satisfied with the infrastructure support given by the company .14% were not at all satisfied with the infrastructure support .9% were satisfied up to certain extent with the infrastructure. The results are giving due attention on the infrastructural support given to the agents
4.4 Regarding Support given by BA and Managers-
In TATA AIG there are two authorities who provide support to the agent. In TATA AIG a BA can have a team of minimum 15 agent and to give support to these BAs a BA manager is there.
In the study it is found that only 45%inactive advisor are satisfied with the support given by BA and managers.23% of the inactive agents are not at all satisfied with there support whereas 32%are satisfied up to certain extent. Result shows that most of the inactive are not fully satisfied with the support given by managers and BAs this can be one of the reason of inactivity because the motivation which they required they are not getting from their managers and BAs
In the agency model of TATA AIG agent gets direction from two source one is BA and other is Manager because of this he gets confuse and unable to perform. There is also a communication gap between agent and manager that is why they become inactive .In interaction with inactive agents they are not satisfied with the support of managers.
4.5 Regarding commission
In TATA AIG Branch Noida as far as timely and regularly payment of commission is concerned most of the inactive advisors are satisfied. They are satisfied with commission structure of TATA AIG branch NOIDA.
As far as the study of satisfaction regarding commission is concern 59% are fully satisfied with the commission. There are 14% inactive Agents who are not at all satisfied with commission where as 27% are satisfied up to certain extent. Among the agents they responded that a fix sum of money is paid to the advisor can help them to make there career as can advisor without a fix sum of are earning they are force to be inactive as an agent .Lack of fix source of earning force them to do the work as part time and working as agent part time make them inactive.