If you are new into recruitment or into insurance sector there are few points you should understand and strictly follow them. Other then this how to handle the straight ‘NO’ of the candidates for the insurance industry I will provide some tips here but also read the article posted for the job seekers as many tips you will get from there and many I will correlate.
Points to Know
Client Details
Prescreening
Lead Generation
Interview Tips
Tracker
Follow Up
Client Details
You should know all details about your clients, here are few Insurance companies and their details.
MAX NEW YORK LIFE
Max New York Life Insurance, founded as a Joint Venture between Max India Limited and New York Life, a Fortune 100 company, is one of the leading private life insurers in India.
• Founded 2000
• Started Operations April 2001
• Headquarters New Delhi, India
• Chairman Analjit Singh
• Managing Director & CEO Rajesh Sud
• Paid-Up Capital Rs. 1,782 crore
• Employees 15,337
• Number of Cities 277
MAX INDIA LTD
• Max Healthcare, a subsidiary of Max India Limited is India’s first provider of comprehensive, standardized, seamless, and integrated world-class healthcare services.
• Founded in 1985, Max India ltd is a Public Limited company listed on the NSE and BSE of India with over 26,000 shareholders. Today, Max India Limited is a multi-business corporate, driven by the spirit of Enterprise, focused on Knowledge, People and Service oriented businesses of:
• Healthcare (Max Healthcare)
• Life Insurance (Max New York Life Insurance)
• Clinical Research (Neeman Medical International)
NEW YORK LIFE
· New York Life Insurance Company,(
www.newyorklife.com) a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the
United States and one of the largest life insurers in the world.
· Headquartered in New York City, New York Life’s family of companies offer life insurance, annuities and long-term care insurance.
· New York Life Investment Management LLC provides institutional asset management and retirement plan services.
· Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.
HIERARCHY
Asst Sales Manager -> Sales Manager -> Associate Partner ->Partner -> Branch Head -> Multiple Partner ->Regional Manager
Multiple Location
Sales Manager - Upto 4.5 lacs + 54k Reimbursement
Asst Sales Manager - Upto 3.5 lacs + 54k Reimbursement
MAXNEWYORK LIFE do not consider the Candidates
• From the companies Like
• Indiabulls,
• Indiainfoline,
• karvy,
• Religare &
• Peerless
( they all are their corporate agents)
Few Important Address (Delhi)
• MAX NEW YORK LIFE INSURANCE,
UGF,Himalya House, KG Marg, New Delhi-110001
Tel: 011-42005020/45
• Ground Floor, E-20, Bunglow Road, Kamla Nagar, Near Amitabh Banquet Hall Tel: 011-47089500
• 1,2 & 3rd Floor, A-29, Gupta Towers, Community Centre, Pachim Vihar, Tel: 011-45606800
• Manish Mega Plaza, 3rd Floor Plot No.13, Sector 5, Dwarka, Tel: 011-45632900
• Premises No.201, 225, on 2nd floor, 301 & 351 on 3rd Floor, Plot No.1 & 2, Aggarwal Chetan Plaza, Sec A-9, Pkt-2, Narela Tel : 011-27783460
• 6th floor, Flat No.613,Laxmi Deep Building, Laxmi Nagar, District Centre, near V3S mall
• Ist Floor, C-12 Village-Babarpur, Kabir Nagar, Shahdara Tel: 011-22115300
• 6th Floor, Nipun Towers, Plot No. 15, Karkardooma Community Centre
• 2 & 3 rd Floor,C-6, Local Shopping Centre, Vasant Vihar Tel: 011-46086900
• Ground Floor,VC - 2 Mahalaxmi Plaza, Vaishali, Ghaziabad, ( Near Ansal Mall ), UP, Tel: 0120-6452469, 020-4154585
• 17-18-19, Lala Lajpath Rai Marg, Kailash Colony, Tel: 011-41630953
• Bhanot House, 17, Community Centre, 4th and 5th floor Gulmohar Enclave, Yusuf Sarai, New Tel: 011-46075000,111
METLIFE
• MetLife India Insurance Company Limited (MetLife) is an affiliate of MetLife, Inc. and was incorporated as a joint venture between MetLife International Holdings, Inc., The Jammu and Kashmir Bank, M. Pallonji and Co. Private Limited and other private investors.
• MetLife India Insurance Company Limited (MetLife) is an affiliate of MetLife, Inc. and was incorporated as a joint venture between MetLife International Holdings, Inc., The Jammu and Kashmir Bank, M. Pallonji and Co. Private Limited and other private investors.
• Head Office - MetLife India Insurance Company Ltd
Brigade Seshamahal
5, Vani Vilas Road
Basavangudi
Bangalore - 560004
Ph: +91 80 26438638 , +91 80 51203130
Fax: +91 80 26521970
HIERARCHY
Sales Manager -> Sr. Sales Manager -> Agency Manager ->Area Manager ->Gm -> Director
Sales Manager –salary upto 4.5 lacs
AEGON RELIGARE
AEGON, one of the world’s largest life insurance and pension groups and Religare, one of India’s leading integrated financial services groups, have come together to launch AEGON Religare Life Insurance Company Limited.
• AEGON’s businesses serve over 40 millions customers in over 20 markets throughout the Americas, Europe and Asia, with major operations in the United States, the Netherlands and the United Kingdom. With headquarters in The Hague, the Netherlands, AEGON companies employ more than 30,000 people worldwide. The company’s common shares are listed on four stock exchanges: Amsterdam, London, New York and Tokyo. It manages EUR 271 billion in assets under management. AEGON has more than 160 years of experience with its roots going back to 1844.
• Religare has a truly pan-India footprint going well beyond Tier-1 cities, present through more than 1550 locations spread across over 460 cities and towns. Religare’s businesses are broadly clubbed across three key verticals - the retail, institutional and the wealth spectrum.
Structurally, all businesses are operated through 10 subsidiaries held by the holding company Religare Enterprises Limited.
• Zonal Office- AEGON Religare Life Insurance,
2nd Floor, Paranjpe B Scheme,
Subhash Road, Near Garware House,
Vile Parle (E), Mumbai - 400 057
Address
• Plot no.300 .sec 29,city center Gurgaon,
• Second Floor,SCO. 139 & 140, Sector 21C, Faridabad
• A 1 kailash colony next to aha academy East of Kailash
• 1st,2nd,3rd floor block-n .secter 18 Noida,
• 706-10,7th floor, pp tower, netaji subhash place Prithampura
HIERARCHY
Business Manager -> Branch Head -> Regional Head -> Zonal Head ->Director
Business manager- upto 4.5 lac(Negotiable) + 54K reimbursement + incentives
Aegon religare hire only those people who have never worked for life insurance company.
They hire people from- banking / fmcg / consumer durables / bpo (team leader) / Financial Services / Stockbroking / Real Estate
ING VYSYA
• ING Vysya Life a part of the ING Group the world’s largest financial services provider^ entered the private life insurance industry in India in September 2001.
• ING Life follows a “customer centric approach” while designing its products. The Company’s product portfolio offers products that cater to every financial requirement, at all life stages.
• ING Life has developed an exclusive tool - the Life Maker™ a simple tool which helps our customers choose a plan most suitable to them, based on their needs, requirements and current life stage. This tool helps build a complete financial plan for life at every life stage, whether the requirement is Protection, Savings, Retirement or Investment.
About ING in India
• ING operates through three businesses in India, ING Life Insurance, ING Vysya Bank and ING Investment Management.
ING Life is currently present in 232 cities across 265 branch offices with over 365 sales teams.
• Fortune 500, July 2007 has ranked ING Group as the world’s thirteenth largest company. As per the ranking, ING Group is the world’s largest financial service provider
• According to the 2008 Fortune Global 500 list
• ING employs around 130,000 people in more than 50 countries and ING Group is the world’s 7th largest company.
• The ING brand ranks #86 in the Interbrand top-100
• Headquartered at Bangalore, ING Life is staffed by 8,049 employees and over 57,628 advisors, serving 7.21 lakhs customers.
• International Headquarter at Amsterdam.
Address ING Life Insurance
- 2/10, LGF & Mezzanine Floor , WHS, Kirti Nagar, Delhi, 011 – 41055105
- Plot No.1, Unit No.2, 2nd Floor, DDA Building at DC, Nehru Place Delhi
011 - 26222244
- 10th Floor, Gopal Das Bhawan,28 Bharakhamba Road Delhi 011- 23704061
- 307, Sector-29, near HUDA Gymkhana club, HUDA, Gurgaon
HIERARCHY
Asst Sales Manager ->Sales Manger -> Sr. Sales Manager ->Group Sales Manager ->
(1.80-2lac) (2.5-2.8 lacs) (2.85-3.60lacs) (4-4.25lacs)
Branch Manager -> Sr. Branch Manager -> Deputy GM -> GM -> President/VP
(5.5-7.5lacs)
TATA AIG
• Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture company, formed by the Tata Group and American International Group, Inc. (AIG).
• Tata AIG Life combines the Tata Group’s pre-eminent leadership position in India and AIG’s global presence as one of the world’s leading international insurance and financial services organization.
• The Tata name has been respected in India for 140 years for its adherence to strong values and business ethics
• The major companies in the Group include Tata Steel, Tata Motors, Tata Consultancy Services (TCS), Tata Power, Tata Chemicals, Tata Tea, Indian Hotels, Tata Teleservices and Tata Communications.
• The Tata Group holds 74 per cent stake in the insurance venture with AIG holding the balance 26 per cent.
• Tata AIG Life provides insurance solutions to individuals and corporates.
• Tata AIG Life Insurance Company was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.
HIERARCHY
ABDM ->BDM ->Sr.DBM ->SM ->Sr.SM ->DBM ->BM ->Sr BM ->AM -> RM -> ZM
• ABDM - 2.6 Lacs
• BDM - 3.1 Lacs
• SM - 4.3 Lacs
• Sr.SM - 5 Lacs
• BM - 8 Lacs
AVIVA
Aviva is UK’s largest and the world’s fifth largest insurance Group. It is one of the leading providers of life and pensions products to Europe and has substantial businesses elsewhere around the world. With a history dating back to 1696, Aviva has a 45 million-customer base with presence in 27 countries. It has £359 billion of assets under management.
PARTNERS - ABN AMRO BANK, THE LAKSHMI VILAS BANK LTD , PUNJAB & SIND BANK, INDUS IND BANK
HIERARCHY
Asst SM -> Sales Manager ->Sr. Sales Manager ->Deputy BM -> BM -> Zonal Head
• ASST SM 2.5LAC TO 3LAC
• SALES MANAGER 3LAC TO 4LAC+72,000k rembrsmnt
• SR. SALES MANAGER 4LAC TO 5LAC
• DEPUTY BRANCH MANAGER 5LAC TO 6LAC
• BRANCH MANAGER 6LAC TO 7LAC
BHARTY AXA
Bharti AXA Life Insurance is a joint venture between Bharti, one of India’s leading business groups with interests in telecom, agri business and retail, and AXA, world leader in financial protection and wealth management. The joint venture company has a 74% stake from Bharti and 26% stake of AXA.
The company launched national operations in December 2006. Today, It has over 5200 employees across over 12 states in the country.
HIERARCHY
FO/FE -> Asst Business Sales Manager -> BSM ->ARSM ->RSM -> VP -> Country Head
Address -
• Gurgaon – Bharti Axa. Ground Floor, tower B, Unitech Cyber Park, Sector 39
• Dwarka – Bharti Axa. Trupati plaza, Sec – 11
• Pitam pura – Bharti Axa. 2nd Floor Near Bittu Tiki wala, Netaji Subash Place
• Noida – Bharti Axa. K 24, 3rd floor, Sector 18, Noida
• Fridabad – Bharti Axa. SCO 32, Sector 16 Main Market Fridabad
• Chandigarh – Bharti Axa. SCO 28,29,30, 2nd Floor, Sector 9 D, Chandigarh.
• Jaipur – Bharti Axa. Sb- 158a, 2nd Floor, Sun Tower, Near Milestone Mall, Gandhi Nagar Mod, Lal Kothi. Jaipur
Prescreening
Prescreening is a short interview of the candidate which helps us to filter the crowd. As discussed in the article for the job seekers in the insurance companies ‘Introduce Yourself’ is the base question for the over all screening of the candidate.
Introduce yourself
Career History
What is the target assigned to you
How much you are able to achieve
What are your achievements
Your Last salary drawn
Your Last incentive achieved
What is your family background
Over all in the first 10-15 secs we have to check the communication skills, sometimes we just start conversations and feel ‘no use’ because of the bad communication skills.
Other then this keep a note pad with you and make small notes about his company details, target assigned to him, what is the incentive structure and so on.
If he is already working in the insurance, ask him like
How many advisors you have in your team,
How many of them are active
How many policies you have given
How much business you have given
How much business you gave last month
Any contest you won in the company
How many new advisors you can give in the first month if you join other company
How much premium you can give
We have to take out the performer for our client, rather then sending the crowd its always better to send few candidates with the full confidence of their selection. Try to cross question him to know whether he is telling the fact or just exaggerating things.
Family background is also important to know about the circle of the candidate as per the profile we need such candidate who can recruit good advisors. Try to know more about the family members as discussed in the article for the job seekers.
Lead Generation
Are you looking for a job switch over – yes, but other then insurance
There is an opening as a Sales Manager – in insurance, no, not interested
Today recruiters are facing this problem at the most, we can’t force any one to join any company or sector but we can try for a while may be who knows……..!
What ever we are making notes of the details of the company as I suggested above can be used here, there are huge list of companies that it will turn to a thesis if we start writing the details of the companies but here what we have to do is, generally there are candidates from few companies we came across again and again, also if we talk about in a broader sense every vertical has its own trend like Pharmaceuticals, IT, FMCG, or Insurance, there performance appraisals, target or incentive structure and other criteria are quite similar we can keep this thing in mind and make notes from the candidate discussions, you must be wondering what is the use of all this home work in generating the leads for the interview.
Ya, it helps us in three ways first of all our own knowledge, while working in one vertical we collected the details about other companies and verticals which is really going to help us whenever we change the vertical as our base is already clear.
Secondly, when you are screening the candidate you can easily catch him if any time he lies about the company and his incentive details.
Thirdly and foremost use we want to make is after hearing straight ‘no’ we can spend few more seconds to discuss ‘why’, now the use of our knowledge starts from here. You can give him some better reasons to join your client as you have already made a ‘comparable chart’ in your mind about your client and his current profile, company and other factors especially incentives.
Other then this try to start working as soon as you get the openings for a location, suppose you get a mail from the company regarding any location with opening, take that location on the preference as we all use almost the same database from the portals, every candidate is getting many calls from different consultants but the candidates give preference to that consultant who called them for the first time,
If you get any interested candidate, drop a sms regarding the venue and never forget to mention your company name and your name in that sms. If the candidate is any how confused about your company name due to so many calls, you will miss a candidate
When all arms gone waste, now its time to ask ‘any reference’, this is also not an easy way to get names from that person expect ‘no, no one right now’ already we have lost one good candidate as he is not ready to switch over then try a punch, ooops…..chill dear
Its not that punch you really want put to some one especially to your senior who is pressurizing you to generate leads and on the other hand you are getting no, no, and no.
Yeah, put that frustration energy and design some good punch for the candidates like
‘Can you give me any name who is ready to take the challenges in the life’
‘Can you tell me any one is who is more know legible about it to approach’
‘Can you tell me anyone who is having more good circle or network’
oh! Really if the answer is still no then also you must be smiling some where inside as in the last you punched your ‘no’ candidate as he is not able to handle the challenges.
If that person is ready to give you some references but as he is in office he can’t so may be after some time. Ask him as ‘can I call u at 5.30 in the evening today’ rather then asking ‘when can I call you’, it will help you to get the exact time and date otherwise that person will answer you ‘call me after some time’ now you don’t have any specific time to call. If you will give him any time by yourself he will answer you ‘call me at 6.30’
Interview Tips
Job Seekers know what to wear, how to behave but still spend sometime on your candidate to discuss the questions HR Manager generally ask, what they want to hear for these questions, what are their preferences and also make your candidate aware of the criteria of the company (read the article for the job seekers, you will get some tips there also), as its better to make them mentally prepare for the interview candidates are going to handle. Give them tips about salary negotiation, how they will respond if HR manager ask for the business or advisors before giving the offer letter, let them know it’s a new trend while recruiting the Sales Managers.
Tracker / Follow UP
Already we are short of leads, the best way is to keep track of the candidates and roll over them for different companies in the same area. Send the same candidate in 2-3 companies, also maintain in the excel sheet that how many are not able to attend the interview on the specified date, roll over them with your follow up.
Follow up is very necessary to manage your leads, there are so many other consultants who are chasing the same candidate. After the getting the leads, drop the sms on phone instantly after the discussions and call your candidates in the morning not only to give the tips for the interview, also to remind them you are the same recruiter who spoke earlier and ask them to mention your company name on their resume every time in the end of your discussion.
Few more points you should know
(1) when can your candidate resign
(2) when he can join your client
(3) what is the last salary he can join if offered
(4) what is the main reason he wants to join your client
(5) will he be able to get advisors and business if asked before getting the offer letter
(6) from how long he is living in that area
(7) he is having four wheeler or not
(8) why he thinks he can do this job
(9) can he wait for the second round on the same day
these all questions will help you to know the mind set of the candidate and you can prepare him for the interview in a much better way.
Don’t Forget
Don’t forget to Prepare a good calling script
Don’t forget to keep tracker and follow up regularly
Don’t forget to send sms about your company name and venue
Don’t forget to Roll over the same candidate for other clients also
Don’t forget to do Mass Mailing daily to get better results
Don’t forget to Screen and Prepare your candidate well
Don’t forget to have Comparable Reasons for your client
Don’t forget to ask reference to your ‘yes’ and ‘no’ candidates
Don’t forget to be in touch with your selected candidates (they provide good references)
Don’t forget to mail me your experiences, views and queries - shiprayadavjobs@gmail.com
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