COMPANY PROFILE

“Max New York Life wants people to view insurance as a financial protection and
wealth creation instrument and not just a tax-saving tool.”

Max New York Life Insurance Company Ltd. is a joint venture between
New York Life, a Fortune 100 company and Max India Limited, one of India's
leading multi-business corporations. The company has positioned itself on the
quality platform. In line with its vision to be the most admired life insurance
company in India, it has developed a strong corporate governance model based on
the core values of excellence, honesty, knowledge, caring, integrity and teamwork.
The strategy is to establish itself as a trusted life insurance specialist through a
quality approach to business.

New York Life is a Fortune 100 company that has over 160 years of experience in
the life insurance business. Max India Limited is a multi-business corporate
dealing in Clinical Research, IT and Telecom Services, and Specialty Plastic
Products businesses.

Max New York Life Insurance started its operations in India in 2000. It is the first
life insurance company in India to be awarded the IS0 9001:2000 certification.
Max New York offers customized products tailored to suit

individual's needs. With its various Products and Riders, there are more than 400
product combinations to choose from. Today, Max New York Life Insurance has a
network of 57 offices spread over 37 cities all over India.
 In line with its values of financial responsibility, Max New York Life has
adopted prudent financial practices to ensure safety of policyholder's funds. The
Company's paid up capital is Rs. 657 crore, which is more than the norm laid down
by IRDA.

Max New York Life has identified individual agents as its primary channel
of distribution. The Company places a lot of emphasis on its selection process,
which comprises four stages - screening, psychometric test, career seminar and
final interview. The agent advisors are trained in-house to ensure optimal control
on quality of training.

Max New York Life invests significantly in its training program and each
agent is trained for 152 hours as opposed to the mandatory 100 hours stipulated by
the IRDA before beginning to sell in the marketplace. Training is a continuous
process for agents at Max New York Life and ensures development of skills and
knowledge through a structured program spread over 500 hours in two years. This
focus on continuous quality training has resulted in the company having amongst
the highest agent pass rate in IRDA examinations and the agents have the highest
productivity among private life insurers.
 Research Methodology
The Research and Methodology adopted for the present study has been
systematic and was done in accordance to the objectives set which has been
detailed as below.
Research Definition
Research is a process in which the researcher wishers to find out the end
result for a given problem and thus the solution helps in future course of action.
According to Redman & Mory research is defined as a “Systemized effort to
gain new knowledge”.
Research Design:
According to “Claire Seltiz”, a research design is the arrangement of
condition and analysis of data in manner that aims to combine relevance to the
research purpose with economy in procedure.

Nature of Research:
Research is basically of two types.
1. Descriptive research
2. Explorative research
1. Descriptive Research: These studies are concerned with describing the
characteristic of a particular individual or a group.

Determining sources of Data:

There are two main sources of data

1. Primary data
2. Secondary data
Primary Data: It consists of original information collected for specific research.
Primary data for this research study was collected through a direct survey to obtain
this primary data a well structured questionnaire was prepared by the researcher.

Secondary Data: It consists of information that already exists somewhere and has
been collected for some specific purpose in the study. The secondary data for this
study is collected from various Japanese Management books .

Questionnaire: A set of questions containing a few Technical questions and more

number of Opinionated questions are prepared for the employees of both
Centralized and Decentralized sections of HR Department.

Sample Size: Total sample size is 90

Questionnaire Development:
Questionnaire is the most common instrument in collecting primary
data. In order to gather primary data from viewers.

The present questionnaire consists of following type of questions.

Open ended questions

Closed ended questions
Dichotomous questions
Multiple choice questions
Ranking question.
Open ended questions: It has no fixed alternatives to which the answer must
conform. Thus, respondent answer in his/her own words at any length they choose.
Closed ended questions: Closed ended questions have no other options other than
the selecting the one that close matches the respondent’s opinion or attitude.

Dichotomous questions: A dichotomous questions refers to one, which offers the

respondents a choice between only two alternatives.

Multiple Questions: A multiple choice question refers to one, which provides

several sets of alternatives for the respondents’ choice.

Ranking questions: These questions are given when there are many points to be
considered and to be ranked in priority.
 Analysis of the project

Definition of Training:

The systematic development of the knowledge, skills and attitudes required

by an individual to perform adequately a given task or job. Training refers to
efforts that help enhance employee skills for carrying out the present job.
According to Edwin B Flippo, training is the act of increasing knowledge and
skills of an employee for doing a particular job.

Needs for training:

• To improve the current job performance of employees

• To familiarize employees with the policies and procedures of the
organization.
• To enhance the creativity, adaptability and versatility of the employees and
to facilitate learning at the work place
• To prepare employees for future job.
• To change the skills, knowledge and attitudes of the employees on a
permanent basis.
• To help employees manage their careers.
• To maintain knowledgeable work force.
• To gain competitive advantage through a knowledgeable work force.
• To promote organizational growth through individual growth.
 CONCLUSION

In this Knowledge-based economy, training helps people to learn how to do

the things differently or to the different things. Products are now increasingly
knowledge-intensive; for this employers are responsible for providing
opportunities for continued learning. To cope with the challenges and
competitiveness in the world, every organization needs the services of trained
persons for performing the activities in the systemic way. So, training program
plays a key role in individual as well as organizational performance.
 OBJECTIVES

The main objective of doing this project is to study employee attitude regarding
the training program and the benefits of the training program. During this student
internship program period I have to achieve some thing which is helpful to the
development of myself and some value addition to the company. Getting more
business to the company because of training program is the main objective. It gives
me good exposure of myself and creating good impression of corporate mind.

 The main objective of this study is to know the employee opinion regarding
the training program.
 To find out what is the training needs in concern area.
 To find out the benefits of the training program to the employee and to the
organization.
 To find out what is the result for the organization because of giving the
training to the employee.
 ON THE JOB TRAINING

INTRODUCTION

My OJT is to finding the employee potentiality in their concern department.

And I have to find how training will helpful for organization as well as individual
growth.

I have to identify the employees who needs training program and I have to
find how can company make the employees to show interest for attending the
training program.

I have to submit the results what can company get after giving the training to
the employees.
 LIMITATIONS

1. The survey was conducted with in the company.

2. And in survey I have to interact with the employees. But the employees will be
busy their works.

3. Getting the good response from the employee will be difficult because of their
busy schedule.

4. Time to interact with employees inside the branch is not sufficient.

5. Time Period of my OJT is one of the limitations.

 APPENDIX
1. Name:

2. Designation:

3. What is your opinion on training?

(a) Good (b)Very good (c)Bad (d) Time waste process
4. Do you feel that training will helpful for individual growth?

(a)Yes (b)NO
5. Did you satisfy with training what company conducted here?

(a)Yes (b)No
6. Is there any improvement in performance after getting the training?

(a)Yes (b)No
7. Who needs much knowledge regarding company and product?
(a)Agents (b)Tele callers (c)Operations executives All
8. In which areas employee needs training?
(a)Company policies and procedures
(b)Skill based training
(c) Problem solving skills
(d) All of the above
 BIBLIOGRAPHY

1) Lynton, R.P. and Pareek, U. “Training for development”, 2nd Ed., New

Delhi: Vistaar publication, 2009.

2) Bhatnagar, O.P. “Evaluation methodology for training”, New Delhi: Oxford
and IBH publishing co.pvt.ltd.
3) Rae, L. “The art of training and development, effective planning”. Vol. 1,
New Delhi.
4) Tannenbaum, S. “A strategic view of organizational training and learning”.
5) A hand book of human resource management practice, 8th ed., 2009.

6) www.maxnewyorklife.com
 PROJECT REPORT
ON
TRAINING & DEVELOPMENT
IN

KOSMO MOTORS
SUBMITTED TO GNDU, AMRITSAR IN THE PARTIAL FULFILMENT OF
REQUIREMENT FOR THE DEGRRE OF B.B.A IIIRD YEAR
SESSION (2009-2010)

SUBMITTED TO :- SUBMITTED BY :-
MS.JASPREET AARYAN GULERIA
LECT.IN COMMERCE B.B.A
ROLL NO:-

APEEJAY COLLEGE OF FINE ARTS

JALANDHAR