SUMMER PROJECT

PROGRESS REPORT NO. 3

ON

FUNCTIONAL (JOB) PROFILES ANALYSIS OF

(BAJAJ ALLIANZ GENERAL LIFE INSURANCE)

SUBMITTED TO: SUBMITTED BY:

Name:Harveen Mam STUDENT NAME:Shubham Mishra

Designation: Assistant Professor UID:20MBA1693
Chandigarh University MBA-Batch 2020-22
Location: Gharuan, Mohali

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 Table Of Contents
Particulars Page No.

Organizational Structure 3-4

Departments 5-16
1) Marketing department 5-10
2) Operation department 10-12
3) Human Resource 12-13
department
4) Accounts department 13-14
5) I.T department 15
6) Legal department 16

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 1) ORGANIZATIONAL STRUCTURE
Bajaj Allianz follows a clear and specific organizational hierarchy.
It consists of six departments.
1. Marketing department
2. Operation department
3. Human Resource department
4. Accounts department
5. I.T department
6. Legal department
The branch manager is responsible for the overall operations held in the
branch. The operations of the entire six departments are controlled by the
Branch Manager. He has broad and overall responsibility for the sales,
operation, claims, etc. Each of the department operations is controlled by
respective department heads. The Branch Manager is often responsible for
the overall sales planning and directions of the branch and leaves day-to-
day operation of the various functions to the head of the department.

Each department in turn has its hierarchical structure of management. The

marketing department in Bajaj Allianz is wide and the company mainly
focuses on more sales. So they have a full-fledged sales team along with
other departments. The marketing department in Bajaj Allianz is divided
into five according to the channels of sales.

1.1) Direct marketing is marketing through various communication

media that interact directly with the customers, generally calling for
the customers for a direct response.

1.2) The travel marketing department of Bajaj Allianz is fully

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 dedicated to sales of Travel policies, which they are providing.
Bancassurance is the distribution of insurance products through the
bank’s distribution channel. In Motor Dealer Channel marketing
and the sales process is carried out through Motor dealer’s
distribution channel. In Agency marketing the company will give
license to external agencies or an individual to sell their insurance
policies.

The operation department is divided into 3 functional

areas They are:-

a) Underwriting Policy.

b) Issuance.

c) Claim.

1.3) The underwriting department assesses the customer’s eligibility to

receive the products of the company and evaluating the information
provided by the customers in the proposal form. The policy
Issuance department issues the policy document to the customers.
The claim department is meant to carry out the claim settlement
process. Each department is very narrow and which are lead by the
respective department head.

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 DEPARTMENTS
A business organization has to perform several activities to run itself. So
for the smooth functioning of its operations a business groups its functions
or activities into different departments. In the functional form of
departmentalization, the activities are grouped following the functions of
an enterprise. There are six major departments in Bajaj Allianz General
Insurance Ltd and each of these departments has been studied in detail and
its structure and functions are explained below.

1) Marketing Department

In Bajaj Allianz, the company mostly concentrated on the marketing operations

like every other competitor. Here the marketing department has a very complex
structure and the marketing department mainly consists of six verticals.

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 1.1 Direct Marketing
Direct marketing is marketing through various communication media that
interact directly with the customers, generally calling for the customers for
a direct response. In the direct marketing department of Bajaj Allianz, the
sales process is carried out through direct selling and personal selling. The
executives find the prospective customers from their contacts and other
databases. And they follow up the selling process.

Roles and Responsibilities:

Direct Marketing Head
• Coordinate all sales process in the direct marketing
• Manage the entire sales team.
• Monitor the performance of each area sales managers.

Area Sales Manager

• Coordinate sales process and motivate the team members

• Manage the sales team under his area of control.
• Monitor the performance of each Relationship manager.
• Maximize the sales from his area of control

Relationship Manager

• Manage all customer Relationship Executives under him.

• Encourage them to improve the sales.
• Monitor the performance of each Customer Relationship
Executives.
• Help the Customer Relationship Executive to find new
customers and to meet the customers.

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 Customer Relationship Executives

• Get the new sales leads and the timely follow-up.

• Personal selling through a presentation about new products and
features.
• Meet the customer and collect the premium.
•Maximize the sales.
Runner

• Give assistants to the Relationship executives.

• Directly meet the customers and collect the premium amount.
• Give maximum assistants to the customer from the
commencement of policy to the claim settlement
1.2 Travel Marketing
The travel marketing department of Bajaj Allianz is fully
dedicated to sales of Travel policies, which they are providing.
The entire sales team fully concentrated on the travel insurance
sales.
Roles and Responsibilities:
Travel Marketing Head
• Coordinate all sales process in the Travel Marketing
• Manage the entire sales team.
• Monitor the performance of each area sales managers.

Area Sales Manager

• Coordinate sales process and motivate the team members

• Manage the sales team under his area of control.
• Monitor the performance of each Relationship manager.
• Maximize the sales from his area of control

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 Relationship Manager

• Manage all customer Relationship Executives under him.

• Encourage them to improve the sales.
• Monitor the performance of each Customer Relationship
Executives.
• Help the Customer Relationship Executive to find new
customers and to meet the customers.

Customer Relationship Executives

• Get the new sales leads and the timely follow-up.

• Personal selling through a presentation about new products and
features.
• Meet the customer and collect the premium.
• Maximize the sales.

Runner

• Give assistants to the Relationship executives.

• Directly meet the customers and collect the premium amount.
• Give maximum assistants to the customer from the
commencement of policy to the claim settlement
1.3 Bank assurance
With the opening up of the insurance sector and with so many
players entering the Indian insurance industry, it is required by the
insurance companies to come up with innovative products, create
more consumer awareness about their products and offer them
competitive prices.

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But, insurance not being an off-the-shelf product and one which requiring
personal counseling and persuasion, distribution posed a major challenge
for the insurance companies. The further insurable population of over 1
billion spread all over the country has made the traditional channel of the
insurance companies costlier. Also due to heavy competition, the
customers have to pay a high price on the policies.

Bajaj Allianz has a fully dedicated vertical for the Bancassurance

distribution. Their partner banks are Dhanalakshmi Bank, IDBI Fortis,
Federal Bank, etc. They have a wide range of Bancassurance distribution
with these banks.
Bancassurance Head
• Coordinate all sales process in the Bancassurance Marketing
• Manage the entire sales team.
• Monitor the performance of each area sales managers.

Area Sales Manager

• Coordinate sales process and motivate the team members

• Manage the sales team under his area of control.
• Monitor the performance of each Relationship manager.
• Maximize the sales from his area of control
• Have a good relationship with Bank officials and
especially with the branch manager.

Relationship Manager

• Manage all customer Relationship Executives under him.

• Meet the Bank officials and do the necessary follow-ups with
customers.

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 • Encourage them to improve the sales.
• Monitor the performance of each Customer Relationship
Executives.
• Help the Customer Relationship Executive to find new
customers and to meet the customers.

Customer Relationship Executives

• Get the new sales leads and the timely follow-up.

• They have to meet customers directly and maintain a relationship
with them.
• Personal selling through a presentation about new products and
features.
• Meet the customer and collect the premium.
• Maximize the sales.

Runner

• Give assistants to the Relationship executives.

• Directly meet the customers and collect the premium amount.
• Give maximum assistants to the customer from the
commencement of policy to the claim settlement.

2) Operations Department

The operations department carried out all the policy and customer-
related operations, like underwriting, policy issuance, and claim
settlement. These all are very crucial operations on the insurance.

After the underwriting process, the company can accept or reject the
application. If the proposal form is accepted the operation department
will issue the policy document to the customers, from the dispatch

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 section. Claim settlement is another duty of the operation department.
Functions

Underwriting department

• Assess the customer’s eligibility to receive the products of the

company.
• Evaluating the information provided by the customers in the proposal
form.
• Premium calculation concerning the customer’s risk status.
• Evaluate the risk factor of the customer.
• The underwriters have to decide whether or not to accept certain risks.

Policy issuing department

• Issues the policy document to the customers.

• Make sure that it has been sent on time.

Claim Settlement department

• To issue claim settlement forms to the policyholders.

• To carry out the claim settlement process.
• To perform a survey of the vehicle/property/house for the intimated
damages.
• To appear in court on behalf of the company for the claim proceedings.
• To provide the final cheque from the company to the
policyholders for the claim settlement.

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 3) Human Resource Department
The human resource department in the Cochin branch is very narrow and it only
consists of two members, H.R head and an Assistant. The department took care of
all the activities regarding the employees of the branch. H.R department
performing recruitment, selection, reward management, and other employee-
related activities.

There are 57 employees are working in the Cochin branch. H.R department
performs the documentation, performance appraisal, training, grievance handling,
and remuneration of employees. The salaries of employees are being credited on
the second last working day of every month in the employee's account.

Department Male Female Total

Marketing 40 0 40
Operations 5 2 7
Human Resource 2 0 2
Accounts 1 2 3
I.T 2 0 2
Legal 3 0 3
Total 53 4 57

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 Functions

• To train the newly recruited employees and to equip them

to successfully perform their duties and responsibilities.
• To handle the reward management policies of the company
and to provide monthly salary and other bonuses to the
employees.
• To determine and provide the commission for agents.
• To conduct technological up-gradation programs for the employees.

4 Accounts department
The accounts department deals with all financial activities including
billing, claim settlement, premium collection, recording day-to-day
transaction details, and all the financial documentation. The accounts
department in Bajaj Allianz consists of 3 employees. The department
function is controlled by the account head. Cashier deals with all clerical
work regarding the cash transaction. He has to collect the premium and
responsible for all bank transactions in the branch. The record clerk has
to keep a record of all financial transactions and day-to-day financial

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activities for the future annual audit purpose, preparing final accounts
of the branch, and so on.

Functions
➢ To ensure that the daily accounts about all the transactions in

the organization are done properly.

➢ To prepare the final accounts of the office and to check the

financial stability of the firm.

➢ To advise the top management in financial transactions and in
allocating funds.
➢ To assist the company auditors in smoothly performing the annual
audit.

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 5 I.T department

The I.T department in Bajaj Allianz is very small and it consists of only 2
members, an I.T head and an Assistant. This department controls and
maintains all the system and network-related problems. They monitor the
working of the system and network in the branch. Maintenance and
troubleshooting are also the functions of this department. They also
provide support for the maintenance and security of the data.

Functions

• Administration of computer networks and maintenance.

• Servicing computer systems.
• Provide support for data maintenance and data security.
• Troubleshooting of network-related issues.
• Maintaining data related to the policyholders and policy details.

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 6 Legal Department
The legal department in Bajaj Allianz consists of 3 members, a
Legal head, a legal investigator, and an executive. The legal
department works together with the claim department. They are
responsible for the investigation of the claims from the customer
side and check whether there is any legality for the customer claim.
The department provides legal support for the organization and the
customer also.

Functions

• Supports Claim settle department for the settlement of the claim.

• Investigating the legality of customers' claims.
• Provide legal support to the organization as well as to the customer
• To appear in court on behalf of the company for the claim proceedings.

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