Work Plan Preview Final

Work Plan Review
Shriram Life Insurance
CHAPTER 1
INTRODUCTION
REVIEW OF LITERATURE
Dept. of Management,Dr. K.V. Subba Reddy institute of Management.
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HUMAN RESOURCE MANAGEMENT

INTRODUCTION:
The human resources of an organization consist of all people who perform its activities. Human resource management (HRM) is concerned with the personnel policies and managerial practices and systems that influence the workforce. In broader terms, all decisions that affect the workforce of the organization concern the HRM function. The activities involved in HRM function are pervasive throughout the organization. Line managers, typically spend more than 50 percent of their time for human resource activities such as hiring, evaluating, disciplining, and scheduling employees. Human resource management specialists in the HRM department help organizations with all activities related to staffing and maintaining an effective workforce. Major HRM responsibilities include work design and job analysis, training and development, recruiting, compensation, team-building, performance management and appraisal, worker health and safety issues, as well as identifying or developing valid methods for selecting staff. HRM department provides the tools, data and processes that are used by line managers in their human resource management component of their job.
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ACTIVITIES OF HUMAN RESOURCES MANAGEMENT:

The activities performed by HRM professionals fall under five major domains: (1) Organizational design, (2) Staffing, (3) Performance Management and Appraisal, (4) Employee and Organizational Development, and (5) Reward Systems, Benefits and Compliance Acquiring human resource capability should begin with organizational design and analysis. Organizational design involves the arrangement of work tasks based on the interaction of people, technology and the tasks to be performed in the context of the objectives, goals and the strategic plan of the organization. HRM activities such as human resources planning, job and work analysis, organizational restructuring, job design, team building, computerization, and worker-machine interfaces fall under this domain. Recruitment, employee orientation, selection, promotion, and termination are among the activities that fit into the staffing domain. The performance management domain includes assessments of individuals and teams to measure, and to improve work performance. Employee training and development programs are concerned with establishing, fostering, and maintaining employee skills based on organizational and employee needs. Reward systems, benefits and compliance have to do with any type of reward or benefit that may be available to employees. Labour law, health and safety issues and unemployment policy fall under compliance component.
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MAJOR TREND AFFECTING HRM:

The following trends have an effect on human resource management function and department. The importance of HRM increases due to some of them and the practices of HRM are affected to some extent due to some of them. 1. Increased globalization of the economy. 2. Technological changes and environmental changes. 3. The need to be flexible in response to business changes. 4. Increase in litigation related to HRM. 5. Changing characteristics of the workforce.
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LITERATURE REVIEW
INTRODUCTION ENHANCING WORK PLAN IN A ORGANIZATION The importance of WORK PLAN is being increasingly realized in industrial and non-industrial organizations both in India and abroad. This realization has come about because of increasing complexity of the task managers and administrators. In most of the organizations the problem of getting the competent and relevant persons, retaining them, keeping up their motivation and morale, and helping them to both continuously grow and contribute their best to the organizations, are now viewed as the most critical problems. With the changes in the social climate, values and norms, changes are also seen in the employees who join the organization today. Their expectations are different, they have different values and norms and they are certainly more competent and more informed than employees in the past. While these can be great assets to the organization, they become if the organization is not able to manage human resources properly. According to Leon C.Megginson, the term human resource can be thought of as, the total knowledge, skills, creative abilities, talents and aptitudes of an organizations workforce, as well as the value, attitudes and beliefs of the individuals involved. The term human resource can also be explained in the sense that it is resource like any natural resource. It does mean that the management can get and use the skills, knowledge, abilities etc., through the development of skills, tapping and utilizing them again and again. Thus, it is along term perspective where as personnel is a short term perspective. Human resources are also regarded as human factor, human asset, human capital and the like. The terms labour and the manpower had used widely denoting mostly the physical abilities and capacities of employees. The term personnel had been used widely in the recent past to denote persons employed in any services. Thus, this term denotes the employees as a whole but it does not clearly denote various components of human resources like skill, knowledge, values etc.
Dept. of Management,Dr. K.V. Subba Reddy institute of Management. 5|Page
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The principal component of an organization is its human resources or people at work. Human resource have been defined as from the national point of view, the knowledge, skills, creative abilities, talents and aptitudes obtained in the population; where as the view point of the individual enterprise, they represent the total of the inherent abilities, acquired knowledge and skills as exemplified in the talents and aptitudes of the employees. Nature and scope of human resources: People in any organization manifest themselves, not only through individual sections but also through group interactions. When individuals come to work place, they come with not only technical skills, knowledge etc., but also with their personal feeling, perceptions, desires, motives, attitudes, values etc. Therefore, employee management in an organization does mean management of not only technical skills but also other factors of the human resources. A close observation of employees reveals that they are complex beings, i.e., physiological, psychological, sociological, and ethical beings. The proportions or intensities of these dimensions of the human factor in employment may differ from one situation to another but the fact remains that these are the basic things of the human factor in organizations. Undoubtedly the physical and the mental attributes of human resources are highly pertinent to organizational performance and productivity. Further it is important to note that the employees in any organization are not to be viewed as static individuals since the quantity as well as quality of human resources is modified by such environmental factors as education, training, development etc. Hence the handling of human resource is entirely different from that of other resources. If human factor is properly utilized, it may even prove a dynamic motive force for running an organization. Otherwise it becomes a passive and destructive force. I want to extend the benefits of having a formal HR department to Shriram Life insurance which does not have one.
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Work Plan Review A) OBJECTIVE OF HRP:
HRP fulfils individual, organizational & national goals. The objectives may be laid down for a short term (i.e. for one year). The long-term objective may be to start a new industry, to expand the market, to produce a new product, to develop its own sales force etc. B) ESTIMATING FUTURE ORGANISTAIONAL STGRUCTURE &
MANPOWER REQUIREMENTS: The Management must estimate the structure of the Organisation at a given point in time. For this estimate, the number of type of employees needed have to be determined. Many environmental factors affect this determination. They include business forecasts, expansion & growth, design &structural changes, management philosophy, government policy, product &human skills mix, & competition. C) AUDITING HUMAN RESOURCES WORK PLAN: Once the future human resource needs are estimated, the next step is to determine the present supply of manpower. This is done through what is called Skills inventory. A skills inventory abilities work preference & other items of information which indicate his over all value of the company. D) PLANING FOR JOB ANALYSIS: After having decided how many persons would be needed, it is necessary to prepare a job analysis, which records details of training, skills qualification, abilities, experience & responsibilities etc. which are needed for a job. analysis includes the preparation of job descriptions & job specifications. E) DEVELOPING A HUMAN RESOURCE WORK PLAN: This step refers to the development & implementation of the HR Plan, which consists in finding out the sources of labour supply with a view to making an effective use of these resources. The first thing is to decide on the policy should the personnel be hired from with through promotional channels or should it be obtained from an outside source. The best policy which is followed by most
Job
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organizations is to fill up higher vacancies by promoting a lower level positions by recruitment from the labour market.
EMPLOYMENT AND DEVELOPMENT OF PERSONNEL Lets see the importance of some WORK PLAN that comes under EMPLOYMENT AND DEVELOPMENT OF PERSONNEL. HUMAN RESOURCE WORK PLANNING: In the words of Coleman Human resource work planning is the process of determining man power requirements and the means for meeting those requirements in order to carry out the integrated plan of the organization. Thus we can say that Human resource work planning consists in projecting future man power requirements and developing manpower plans for implementing of the projections. Human resource work planning helps the management to have the right number and the right kind of people at the right place, at the right time, to do things, which result in both the organization and the individual receiving the maximum long range benefits. It will be noted that manpower planning consists in projecting future manpower requirements and development of manpower plans for the implementation of the projections. This planning cannot be rigid or static; it is amenable to modification, review and adjustments in accordance with the needs of the organization or the changing circumstances. Right person for the right job is the basic principle in recruitment and selection. Every organization should give attention to the selection of its manpower, especially its managers. Every business organization/unit needs manpower for carrying different business activities smoothly and efficiently and for this recruitment and selection of suitable candidates are essential. According to EDWIN FLIPPO, Recruitment is the process of searching for prospective employees and stimulating them to apply for jobs in the organization.
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Selection is basically picking an applicant from a pool of applicants who has the appropriate qualification and competency to do the job. Both recruitment and selection are the two phases of the employment process. The differences between the two are:
Recruitment is the process of searching the candidates for employment and stimulating them to apply for jobs in the organization whereas selection involves the series of steps by which the candidates are screened for choosing the most suitable persons for vacant posts. The recruitment and selection process is always easier if an employer can provide a recruitment agency or recruitment consultant with a very specific brief on what they want in an employee. They should also advise the agency/consultant of their own processes of selecting the right candidate. This way the agency or consultant can advise potential candidates at each stage of the recruitment and selection process. The basic purpose of recruitment is to create a talent pool of candidates to enable the selection of the best candidates for the organization, by attracting more and more employees to apply in the organization whereas the basic purpose of selection is to choose the right candidate for various positions in the organization. Recruitment is a positive process i.e. encouraging more and more employees to apply whereas selection is a negative process as it involves rejection of the unsuitable candidates. Recruitment and selection process involves a systematic procedure from sourcing the candidates to arranging and conducting the interviews and requires many resources and time. A general recruitment process is as follows: Identify vacancy Prepare job description and person specification Advertising the vacancy Managing the response
Work Plan Review Short-listing Arrange interviews Conducting interview and decision making Recruitment Planning: -
The first involved in the recruitment process is planning. Hire, planning involves to draft a comprehensive job specification for the vacant position, outline its major and minor responsibilities; the skills, experience and qualifications needed; grade and level of pay; starting date; whether temporary or permanent; and mention of special condition, if any, attached to the job to be filled.
Development Plan:Once it is known how many with what qualification of candidates are required, the next step involved in this regard is to device a suitable strategy for recruitment the candidates in the organization. The strategic considerations to be considered may include issues like whether to prepare the required candidates themselves or hire it from outside, what type of recruitment method to be used, what geographical area be considered, for searching the candidates, which source of recruitment to be practiced, and what sequence of activities to be followed in recruiting candidates in the organization.
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NEED FOR HUMAN RESOURCE WORK PLANNING Human resource work planning is deemed necessary for all organizations for one or the other of the following reasons: To carry on its work, each organization needs personnel with necessary qualifications, skills, knowledge, work experience and aptitude for work. These are provided through effective Human resource work planning. Since a large number of persons have to be replaced who have grown old, or who retire, die or become incapacitated because of physical or mental ailments, there is a constant need for replacing such personnel. Otherwise the work would suffer. Human resource work planning is essential because of frequent labour turnover which is unavoidable because it arises from factors which are socially and economically sound such as voluntary quits, discharges, marriages, promotions; or factors such as cyclical fluctuations in business which cause a constant movement and flow in the workforce in many organizations. In order to meet the expansion programs. The nature of the present workforce in relation to its changing needs also necessitates the recruitment of new labour. To meet the challenge of a new and changing technology new techniques of production, existing employees need to be trained or new blood is injected in to the organization. Human resource work planning is also needed in order to identify areas of surplus personnel or areas in which there is shortage of personnel. If there is surplus, it can be redeployed; if there is shortage, it may be made good.
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CHAPTER 2
COMPANY PROFILE INDUSTRY PROFILE
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COMPANY PROFILE
SHRIRAM LIFE INSURANCE CO LTD
The Shriram Life Insurance, located at Ucon Plaza in Kurnool City, with employees of 120 including Clerical Staff. The yearly turn over of Shriram Life Insurance is around Rs. 40 Crores in the year 2011. Shriram Life Insurance competing the major insurance corporations in Kurnool like LIC, Bajajalliacne, Reliance, ICICI, HDFC. The HR Manager of Kurnool Shriram Life Insurance Mr. Maruthi who is putting the spontaneous efforts to make the Shriram Life Insurance among the top insurance corporations in Kurnol City. The Shriram group is one of the largest and well respected financial services conglomerate in India. The groups main line of activities in financial services include, chit funds, truck financing, consumer durable financing, stock broking, insurance broking, and life insurance. The group has a customer base of 30 lack chit subscribers and investors and operates through a network of 630 offices all over the country. The group has the largest agency force in the privet sector consisting of more than 75000 loyal and dedicated agents. Shriram Life insurance Co Ltd. was launched in January 2006. India currently accounts for 16% of the worlds population. 70% of the populations is below 35 years of age. Between 2001 and 2006, Indian demography has changed with the higher income classes constituting about 79%. This presents huge market for insurance products. This is amply reflected in the growth of insurance industry in the last recent years. Most of the products of Shriram life were designed by advisors working in the field and based on need analysis done through intense market research. During the first year of operation the company earned a profit of 2 crores which doubled to 4 crores in the subsequent year. For the fiscal ended march 2009 the company earned a profit of 8 crores adding the total premium at the end of 2008-09 stood at 1000 crores. The company aims to garner new business premium of Rs 1000 crores in the next 3-4 years. The company also intends to increase in 100 cities in next couple of years.
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THE JOINT VENTURE

Shriram Life Insurance Company Ltd is a joint venture of Shriram group and Sanlam with South Africa holding 26% of the stack. Sanlam Life insurance Limited, a part of the Sanlam Group, is one of the largest providers of life insurance in South Africa with 3.2 million individuals policies under administration It has a significance presence across South Africa, United Kingdom and Namibia and is a major provider of life insurance, retirement annuities, saving and investment products, personal loans, home loans and trust services to individuals. The shareholder's funds of Sanlam Life equates to USD 4.4 billion . The Sanlam Group was established in 1918 and has a leadership position in financial services in South Africa. Demutualized in 1998, the group is listed on the JSE Securities Exchange in Johannesburg and on the Namibian Stock Exchange. It has a current market capitalization of USD 5.4 billion. The Sanlam Group also operates in the areas of group schemes, retirement funds, short-term insurance, asset management and other financial services. It has employee strength of 8,000 and has shareholder funds in excess of USD 4.6 billion. On 31st December 2004 it had more than USD 48 billion assets under management .
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VISION OF THE COMPANY

The Shriram Life Insurance Company is set out with the objective of reaching out to the common man with a host of products and services that would be helpful to him in his path to prosperity. Efficiency in operations, integrity and a strong focus on catering to the needs of the common man, by offering him high quality and cost-effective products and services, are the values driving the organization. These core values are deeprooted within the organization and have been strongly adhered to over the decades. The company prides itself on its perfect understanding of the customer. Each product or service is tailor-made to perfectly suit the needs of the customer. It is this guiding philosophy of putting people first that has brought the Company closer to the grassroots and has made it the preferred choice for all the truck financing requirements amongst the customers
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FUNCTIONAL DEPARTMENTS FINANCE DEPARTMENTS

Something must be direct the how of economic activity and facilities its smooth operation. Finance is the agent that produces this result. Nature of financial management refers to its functions, scope and objectives. Financial management is that managerial activity which is concerned with the planning and controlling of the firms financial resources. In modern times finance is the life-blood of the business. No matter, whether the business is big or small financial is the equally important. The financial resources must proper planned and control in order to achieve the best out of available. So, financial resources should be very properly Generally, financial planning means deciding in advance, the financial activities are to be carried on to achieve the objective of the firm. In broader sance, in the words of Walker and Boughn as; financial planning includes the determination of firms financial objectives, formulating and promulgating financial polices and developing and procedures. Financial planning is necessary to achieve both long term and short term objectives. A sound financial planning includes how much need of funds for both the terms. Then from where they are to be received and utilized. Shriram life would evaluated different proposal placed before them and selects the best out of them. It estimates how much capital is going to be required for various proposals and how much is the return on the capital employed. The financial manager lays down the estimate on the capital of cash per week, per month and per year.
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At the time of incorporation of any business, it is the first problem before the promoters to decide how much capitalization should be made in a business. The amount of capital of any time should not exceed nor less than the amount required. So, it is necessary to have proper capitalization for the success of the enterprise. But Gerstenberg defines it as; The total accounting value of all capital regularly employed in business, it includes owners capital, borrowed capital and any other sources. Thus term includes; 1. The value of ordinary and preference shares 2. The value of all surplus earned and capital 3. The value of bonds and security still not redeemed 4. The value of long term loans However the modern view includes short term funds or liabilities under the firm. It should be properly capitalized. Shriram Life Insurance issue shares. So, all these terms do apply.
FUND OPTIONS There are six funds having different proportional investment in equity, debt, market money and cash. The funds are Preserver, Defender, Balancer, Maximus, Accelerator, and Tyaseer.
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HUMAN RESOURCE DEPARTMENT

HUMAN RESOURCE MANAGEMENT Human Resource Management function that helps managers recruits select, train and develop members for an organization. Obviously, HRM is concerned with the peoples dimension in organizations In all business concerns, there is one common element. i.e. HUMAN RESOURCE. Work force of an Organization is one of the most important inputs of components. It is said that people are our single most important assets. Because of the unique importance of HUMAN RESOURCE and its complexity due to ever changing psychology, behavior and attitudes of men and women at work, personnel function, i.e., manpower management function is becoming increasingly specialized. The personnel function or system can be broadly defined as the management of people at work- management of managers and management of workers. Personnel function is particularly interested in personnel relationship and interaction of employees-human relations. In a sense, management is personnel administration. Management is the development of people, and not mere direction of material resources. Human capital is the greatest asset of a business enterprise. The essential ingredient of management is the leadership and direction of people. Each manager of people has to be his own personnel man. Personnel management is not something you really turn over to personnel department staff. MANPOWER PLANNING Human Resource Planning is the process by which an organization ensures that it has the right number and kind of people, at the right place, at the right time, capable of effectively and efficiently competing those tasks that will help the organization achieve its overall objectives. Human Resource Planning translates the organizations objectives and plans into the number of workers meet those objectives. Without a clear-cut planning, estimation of an organizations human resource need is reduced to mere guesswork
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Manpower planning is needed with respect to persons who can work as sub-broker for the companies. Companies focus on Advisors of Mutual Fund product and ELSS schemes of Shriram and focused on Insurance Advisor and post office agent, Tax consultants and CAs for making sub-broker. Shriram Life Insurance follows the following process: The first step is forecasting the need of man power in terms of divisions, department or functions. Along with the estimate of the number of the people required in different departments it is also decided that at which level they will be needed. After estimating the man power requirement, next step is to have a look at the current human resource. The current human resource is assessed so as to know whether the requirement can be filled by the existing personnel or not. At last detailed policies for recruitment, selection, training, promotion, retirement, replacement etc. EXCLUSIVE EMPLOYMENT The employee position is that of full time employed with Shriram Life. The company strictly prohibits the employees from seeking employment of any nature with any other entity. The employees have to take prior approval from the superior and the Human Resource department before engaging in activities like addressing seminars, teaching etc. and ensure that these official duties do not suffer on this account and no monetary benefit is derived there from. The employee or its relatives should also not be empanelled as an authorized / unauthorized distributor / agent / broker or in any other similar capacity of any entity engaged in distribution and selling of financial products. RECRUITMENT & SELECTION The upper level members like zonal managers, regional managers, branch managers and senior executives are recruited by publishing recruitment
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advertisement in leading national level newspaper. The qualified applicant are then called for interview and selected. The regional manager has authority to select lower level employee like peon, marketing executives, financial accountant etc. by approval of zonal manager. PERFORMANCE APPRAISAL Objective of Performance appraisal if for Developmental uses for agents and financial consultants, for wages, transfer, promotion, for documentation and for organizational purpose like Human Resource Planning, Job analysis and for training and development TRAINING Continuous training and upgrading technical, behavioral and managerial skills is a way of life in Shriram. Shriram Life encourages agent or sub-broker to hone their skills regularly to enable them to face the challenges of the changing requirements of customers that fit market up and down The successful candidates of the AMFI Exam are given the product training. The primary purpose is to become quite conversant with the product that one sells. In other words, product knowledge is very important for any advisor. Product knowledge is not just about knowing the broad terms and conditions of the various schemes of policies. The advisors are explained about the schemes, the terms related with it, the benefits it provides to investor. This training is aimed at making the advisors fully equipped with the companies product information. This training is aimed at making the advisors experts in selling the products
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MARKETING DEPARTMENT
Traditionally, insurance products have been promoted and sold principally through agency systems in most countries. With new developments in consumer behaviour, evolution of technology and deregulation, new distribution channels have been developed successfully and rapidly in recent years. Shriram Life Insurancemake use of various distribution channels: Career Agents Advertisements Direct Response Internet
The main characteristics of each of these channels are: Career Agents: Career Agents are full-time commissioned sales personnel holding an agency contract. They are generally considered to be independent contractors. Consequently an insurance company can exercise control only over the activities of the agent, which are specified in his contract. Despite this limitation on control, career agents with suitable training, supervision and motivation can be highly productive and cost effective. Moreover their level of customer service is usually very high due to the renewal commissions, policy persistency bonuses, or other customer service-related awards paid to them. Many insurance companies, however avoid this channel, believing that agents might oversell out of their interest in quantity and not quality. Such problems with career agents usually arise, not due to the nature of this channel, but rather due to the use of improperly designed remuneration and/or incentive packages. Direct Response: In this channel no salesperson visits the customer to induce a sale and no face-to-face contact between consumer and seller occurs. The consumer purchases products directly by responding to the company's advertisement, mailing or telephone offers. This channel can be used for simple packaged products, which can be easily understood by the consumer without explanation.
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Advertisements: This very popular medium among the entire medium any person can see this advertisement of the products and buy the product from nearest branch. Internet: Internet banking is already securely established as an effective and profitable basis for conducting banking operations. The reasonable expectation is that personal banking services will increasingly be delivered by Internet banking. Company can also feel confident that Internet banking will also prove an efficient vehicle for cross selling of insurance savings and protection products. It seems likely that a growing proportion of the affluent population.
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PRODUCT PROFILE
PRODUCTS
Broadly, insurance plans can be distinctly divided into ULIPs and traditional plans. A brief detail of both segments:
Unit Linked Insurance Products

ULIPs have gained high acceptance due to attractive features they offer. These include:
1. Flexibility
1. Flexibility to choose Sum Assured. 2. Flexibility to choose premium amount. 3. Option to change level of Premium /Sum Assured even after the plan has started. 4. Flexibility to change asset allocation by switching between funds
2. Transparency
1. Charges in the plan & net amount invested are known to the customer
2. Convenience of tracking ones investment performance on a daily
basis.
3. Liquidity
1. Option to withdraw money after few years (comfort required in case of exigency) 2. Low minimum tenure. 3. Partial / Systematic withdrawal allowed
4. Fund Options
1. A choice of funds (ranging from equity, debt, cash or a combination) 2. Option to choose your fund mix based on desired asset allocation
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ULIP Plans:
1. Future Wealth 2, 2. Pension Plan 2, 3. Shri Plus 2, 4. ShriVidya Plus 2, 5. ShriVikas 2, 6. ShriVishram 2.
TRADITIONAL PLANS
These are the oldest types of plans available. These plans cater to customers with a low risk appetite. Some of the common features of traditional plans are:
1. Steady Investment
1. Major chunk of investible funds are in debt instruments 2. Steady and almost assured returns over the long term
2. Features
1. Death benefit is Sum Assured + guaranteed & vested bonus 2. Helps in asset creation as they are for a long tenure 3. Premium to Sum Assured ratios are fixed for each plan and age. 4. Generally withdrawals are not allowed before maturity 1.ShriLaabh, 2.Shri Life, 3.ShriRaksha, 4.AkshyaNidhi, 5.ShriSurksha, 6.ShriVidya, 7.ShriVivah
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SWOT ANALYSIS Strength:

Quality of products Quality of services Highly cooperative and efficient staff & crew members
Wide distribution network across the whole country.
Weakness:

Less promotional activities
Less advertising efforts Low market share compared to PSUs
Opportunities:
By making some good promotional efforts Shriram can gain more number of customers who will be loyal. Increasing awareness will result in increase in customer base. Company has already proved its strength in market so, soft work required to launch this product Huge potential of insurance business in India.
Threats:
Challenges posed by other competitor in the market. Lower customer base may hinder prompt service Social scenario. Government policies Aggressive Marketing strategy by competitors
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INDUSTRY PROFILE
HISTORY OF INSURANCE Insurance has been around since ancient times. The Babylonians and Phoenicians had ocean marine insurance to protect a merchant against losses incurred when a ship did not reach its intended destination with its load of goods or did not return with payment. This form of insurance, called Respondentia, evolved because the goods on board often were used as collateral for a loan. The lender charged the borrower interest on the loan and levied an additional sum, the premium, to cover the cost of the respondentia contract. If the ship reached its destination and returned, the merchant received payment for the goods and in turn paid the moneylender. If the ship failed to return, the debt was cancelled. This system was profitable to lenders because many respondentia contracts were sold, and debts were paid more often than cancelled. In ancient Rome, associations had a form of insurance for their members. Each member made regular payments to the association in return for coverage of funeral expenses or for assistance to family members who were injured or ill. Insurance also existed in 17th-century England, which was then one of the world's principal maritime powers. Those seeking marine insurance would post a list of their cargo and voyages in a London coffee house owned by Edward Lloyd. Private investors would examine the list and sign their name by the entries they were willing to guarantee for a fee. These private investors were the first insurance underwriters, and the coffee house became the world center of marine insurance. Today the organization is known as Lloyds of London, and it brings together individuals, most often working in syndicates, who write all types of insurance. Insurance in the modern form originated in the Mediterranean during 14th century. The earliest references to insurance have been found in Babylonia, the Greeks and the Romans. The use of insurance appeared in the account of North Italian merchant banks who then dominated the international trade in Europe at that time. Marine insurance is the oldest form of insurance followed by life
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insurance and fire insurance. The patterns that have been used in England followed in other countries also in these kinds of insurance The oldest and the earliest records of marine policy relates to a Mediterranean voyage in 1347. In the year 1400, a book written by a merchant of Florence, indicates premium rates charged for the shipments by sea from London to Pisa. Marine Insurance spread from Italy to trading routes in other countries of Europe. Fire insurance has its origin in Germany where it was introduced in municipalities for providing compensation to owners of the property, in return for an annual contribution, based on the rent of those premises. The fire insurance in its present form started after the most disastrous fire in human history known as the 'Great Fire' in London, which had destroyed several buildings. It drew the attention of the public and the first fire insurance commercially transacted in 1667. The Industrial Revolution (1720-1850) gave much impetus to fire insurance. The Nineteenth century marked the development of fire insurance. Due to the increasing demands of the time, different forms of insurance have been developed. Industrial Revolution of 19th century had facilitated the development of accidental insurance, theft and dacoits, fidelity insurance, etc. In 20th century, many types of social insurance started operating, viz., unemployment insurance, crop insurance, cattle insurance, etc. This way the business of insurance developed simultaneously with human and social development. Today, the use of computers in the field of insurance is frequently increasing. Insurance becomes an inseparable part of human development. The early developments of life insurance were closely linked with that of marine insurance. The first insurers of life were the marine insurance underwriters who started issuing life insurance policies on the life of master and crew of the ship, and the merchants. The early insurance contracts took the nature of policies for a short period only. The underwriters issued annuities and pension for a fixed period or for life to provide relief to widows on the death of their husbands. The first life
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insurance policy was issued on 18th June 1583, on the life of William Gibbons for a period of 12 months. The history of life insurance in India dates back to 1818 when it was conceived as a means to provide for English Widows. Interestingly in those days a higher premium was charged for Indian lives than the non-Indian lives as Indian lives were considered more riskier for coverage. The Bombay Mutual Life Insurance Society started its business in 1870. It was the first company to charge same premium for both Indian and non-Indian lives. The Oriental Assurance Company was established in 1880. The first general insurance company- Tital Insurance Company Limited was established in 1850. Till the end of nineteenth century insurance business was almost entirely in the hands of overseas companies. Insurance regulation formally began in India with the passing of the Life Insurance Companies Act of 1912 and the Provident Fund Act of 1912. Several frauds during 20's and 30's sullied insurance business in India. By 1938 there were 176 insurance companies. The first comprehensive legislation was introduced with the Insurance Act of 1938 that provided strict State Control over insurance business. The insurance business grew at a faster pace after independence. Indian companies strengthened their hold on this business but despite the growth that was witnessed, insurance remained an urban phenomenon. The Government of India in 1956, brought together over 240 private life insurers and provident societies under one nationalized monopoly corporation and LIC was born. Nationalization was justified on the grounds that it would create much needed funds for rapid industrialization. This was in conformity with the Government's chosen path of State- led planning and development.
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INTRODUCTION TO INSURANCE SECTOR The insurance sector in India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again. Tracing the developments in the Indian insurance sector reveals the 360-degree turn witnessed over a period of almost 190 years. The business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta.
Some of the important milestones in the life insurance business in India are:
1912
The Indian Life Assurance Companies Act enacted as the first statute
to regulate the life insurance business. 1928 The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses. 1938 Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public. 1956 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crores from the Government of India.
The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British.
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Some of the important milestones in the general insurance business in India are:
1907 The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business. 1957 General Insurance Council, a wing of the Insurance Association of India, frames a practices. 1968 The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up. 1972 The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance business in India with effect from 1st January 1973. code of conduct for ensuring fair conduct and sound business
107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.
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CHAPTER 3
RESEARCH METHODOLOGY OBJECTIVES OF THE STUDY SCOPE OF THE STUDY SOURCE OF DATA
LIMITATIONS OF THE STUDY
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Research Methodology
This chapter deals with research methodology used in analysis and interpretation. The purpose of methodology section is to describe the research procedure. This includes the overall research design, the data collection method and the types of data used in the sampling design and sampling technique adopted. DEFINITION OF RESEARCH: The Advanced Learners Dictionary of Current English lays down the meaning of research as a careful investigation or inquiry especially through search for new facts in any branch of knowledge. Redman and Mory define research as a systematized effort to gain new knowledge. According to Clifford Woody research comprises defining and redefining problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making deductions and reaching conclusions; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis.
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OBJECTIVES OF THE STUDY
efforts.
To assess the Organization culture of the Shriram Life insurance. To study how the organization retain the employees. To study what strategies the company is implementing on efficient work
To avail the opportunity in observing the environment of the organization. To identify the key performance areas of improvement. To identify key factors which are effecting in retention To study various Recruitment strategies by the organization. To know the effect of work plan by the professionals To know the motivational strategies to the employees. To evaluate the performance appraisal planning of Shriram Life insurance.
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SCOPE OF THE STUDY
This project study is helpful in following aspects. It will be helpful to the professionals of Shriram Life insurance to know the effect of their work plan. It will be helpful in knowing employees satisfaction towards the task given to them. It will be helpful in knowing the assumption level about the plan which is to be executed in the work environment of Shriram Life insurance.
It will be helpful to know the satisfaction level of employees in Shriram Life insurance.
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SOURCES OF DATA
Primary data were used in the research. Primary data is gathered for a specific purpose or for specific research project. PRIMARY DATA: Structure questionnaires were used and also an informal interaction with the respondents to get first hand information was also resorted to for the study. The questionnaire was fabricated keeping in mind of stated objective. SECONDARY DATA: Secondary source is that information that is obtained from those sources other than direct sources and the information is collected through the mentioned ways. Companys Files. Websites and other Search engines. Other records etc. QUESTIONNAIRE: Collection of data is an important stage in the research. In fact the quality of the data collected determines the quality of research. A questionnaire is a sheet or sheets of paper containing question relating to certain specific aspects, regarding which the researches collect the data. The questionnaire is given to the respondents to be filled up. 60 questionnaires were distributed among customers out of whom only 50 employees responded to the questionnaire, Therefore only 50 questionnaires were considered for analyzing and interpretation.
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QUESTIONARIE DESIGN:
The questionnaire is designed based on three types of questions. They are: A) OPEN ENDED QUESTIONS: These are unstructured ones, providing free scope to the respondents to reply with their own choice of words and ideas.
B) CLOSED QUESTIONS: These are structured ones with two or more alternative responses from which respondent can choose. They contain standardized answers and they are simple and easy to compile and analyze. These questions provide two or more alternative responses or option to the respondents
C) DICHOTOMOUS QUESTIONS: They can be answered in one of the two responses such as YES or NO. SAMPLE SIZE: 50 employees were surveyed during the study period. SAMPLING UNITS: The sampling units are employees of Shriram Life insurance Kurnool. METHOD OF SAMPLING: Random Sampling Method and non-probability method is used in which Quota Sampling method is used which is as same as Random Sampling Method.
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QUOTA SAMPLING: In quota sampling the selection of the sample is made by the interviewer, who has been given quotas to fill from specified sub-groups of the population. The targeted group is on employees of Shriram Life insurance Kurnool. They are similarities with stratified sampling, but in quota sampling the selection of the sample is non-random. Anyone who has had the experience of trying to interview people in the street knows how tempting it is to ask those who look most helpful, hence it is not the most representative of samples, but extremely useful. TOOLS FOR DATA ANALYSIS: The tool used for the purpose of analysis is percentage method with reference to questionnaire. PERCENTAGE METHOD: Percentage method refers to a special kind of rates. Percentage method used in making comparison between two or more series of data. Percentage= No. of respondents Total no. of samples x 100
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LIMITATION OF THE STUDY
There are some limitations of this study are as follows: Personal Bias: Some respondents may have biasness, so they may have not given correct information, which may affect the conclusion of this study Time Limit: Time for this research work was limited otherwise more information could have been collected. Area: The area for this research work was limited to Shriram Life insurance, Kurnool only. Sample Size: The sample size for this research is of only of 50 respondents which may not reveal adequate and correct information
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CHAPTER 4
DATA ANALYSIS & INTERPREATIONS
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1. What are the sources of recruitment process?

Recruitment Process Campus Reference Paper Advertisements Consultancies Total No. of Respondents 15 8 17 10 45 Percentage 30 16 34 10 100
INTERPRETATION:
Source of Recruitment
40 35 30 25 20 15 10 5 0 Percentage 16 20 30 34
The survey finds that 30% of the respondents are recruited through campus selection, 16% are recruited on reference, and 34% are recruited on paper advertisements i.e. walking interviews and 10% through consultancies.
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2. Which of the following traits is the basis for selection?
Basis Skills Attitude & Knowledge Learning Ability Smart & Hard work Experience Both Skills, Attitude & Knowledge Total
No.of Respondents 6 8 7 11 12 6 50
Percentage 12 16 14 22 24 12 100
Traits in basis of Selection

30 20 10 0 Percentage 16 12 14 22 24 12
INTERPRETATION:
The survey finds that 12% employees are said skills, 16% are said attitude and knowledge, 14% are said learning ability. The survey finds that 22% are said smart & hard work, 24% said experience and 12% said both skills, attitude and knowledge.
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3. Since how long you are working with Shriram?

Employees response Below 1 year 2 years 3 years Above 4 years Total No of respondents 20 8 12 10 50 percentage 40 16 24 20 100
working in shriram since

45 40 35 30 25 20 15 10 5 0 Below 1 year 2 years 3 years Above 4 years 16 24 20 percentage 40
Interpretation:
The survey finds that 40% of the employees are below 1 year. The survey finds that 16% of the employees are 2 years. The survey finds that 24% of the employees are below 3 years. The survey finds that 20% of the employees are above 4 years.
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4. You are encouraged to participate in trainings to improve your skills and Competencies?
Employees response Yes No Total No. of respondents 45 5 50 90 10 100 Percentages
Encouragement to participate in training programs

100 90 80 70 60 50 40 30 20 10 0 Yes No 10 Percentages 90
INTERPRETATION:
The survey finds that most of the Employees are said yes (90%) i.e., they are encouraged to participate in training to improve skills and competencies. But (10%) are said no, i.e., they are not encouraged to participate in training to improve skills and competencies.
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5. Do you feel that the organization provides opportunities for your growth and development?
Employees response Yes No Total
No of respondents 40 10 50
Percentage 80 20 100
opportunities for growth and development

90 80 70 60 50 40 30 20 10 0 Yes No 20 Percentage 80
INTERPRETATION:
The survey finds that most of the Employees are said yes (80%) i.e., Organization provides opportunities for your growth and development. But (20%) are said no, i.e., the organization was not providing opportunities for your growth and development.
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6. Are your training programs linked with your career development /growth?
Employees response Yes No total
No of respondents 45 5 50
Percentage 90 10 100
Training programs linked to career growth and development

10 Yes No
90
INTERPRETATION:
The survey finds that most of the Employees are said yes (90%) i.e., Training programs linked with their career development /growth. But (10%) are said no, i.e., the training programs are not linked with their career development /growth.
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7. Does your job profile match with your skills sets? Employees response Yes No Total No of respondents 42 8 50 Percentage 84 16 100
Job profile match to skills sets

16
Yes No
84
INTERPRETATION:
From the above table it is concluded 84% of the respondents are said that their profile match with their skills sets and 16% are said their profile doesnt match their skills sets.
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8. Does your management come forward to support when you are facing with critical situation?
Employees response Strongly agree Agree Neutral Disagree Strongly disagree Total No of respondents 12 20 10 8 50 Percentage 24 40 20 16 100
Management support in critical situations

40 40 35 30 25 20 15 10 5 0 Strongly agree Agree Neutral Disagree Strongly disagree 0 24 20 16 Percentage
INTERPRETATION
The survey finds that 24% Employees are said strongly agree. The survey finds that 40% Employees are said Agree. The survey finds that 20% Employees are said neutral. The survey finds that 16% Employees are said disagree. The survey finds no one employees opted strongly disagree.
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9. Do you have the materials and equipment you need to do your work right?
Employees response Strongly agree Agree Neutral Disagree Strongly disagree Total No of respondents 7 29 9 3 2 50 Percentage 14 58 18 6 4 100
Availablity of equipment to complete the work

60 50 40 30 20 10 0 Strongly agree Agree Neutral Disagree Strongly disagree Percentage
INTERPRETATION
The survey finds that 14% of Employees are said they strongly agree, 58% are said Agree and 18% said neutral. The survey also finds that 6% of Employees are said disagree and 4% of Employees are said strongly disagree.
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10. What do you feel about the working environment?
Employees response Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Total
No of respondents 6 34 7 2 1 50
Percentage 12 68 14 4 2 100
Satisfaction level on working environement

80 70 60 50 40 30 20 10 0 Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied 12 14 4 2 Percentage 68
INTERPRETATION:
From the above table it is find that 12% of Employees are said highly satisfied, 68% of Employees are said satisfied. 14% of Employees are said neutral. And the survey also finds that 4% of Employees are dissatisfied and only 2% of Employees are strongly dissatisfied.
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11. Would you like to put your efforts in reaching the organizations vision?
Employees response Yes No total No of respondents 48 2 50 Percentage 96 4 100
Efforts towrads the companies vision

No 4%
Yes No
Yes 96%
INTERPRETATION:
The survey finds that most of the Employees are said yes (96%) i.e., they are putting efforts in reaching companys vision. But (4%) are said no, i.e., they are not putting efforts in reaching companys vision.
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12. Are you satisfied with the performance appraisal system?
Satisfaction on Appraisal Yes No Total
No. of Respondents
Percentage
38 12 50
76 24 100
Satisfaction on Performance Appraisal System

70 60 50 40 30 20 10 0 64
24
Percentage
Yes
No
INTERPRETATION:
From the above table it is concluded 76% of the respondents are satisfied with the Performance Appraisal system of the organization and remaining 24% are dissatisfied.
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13. Who among the following are involved in the performance appraisal
system? Employees response Immediate Superior Self Analysis included Peers included Customers Overall Dept. Head Both A & E Total No of respondents 10 18 7 5 8 2 50 Percentage 20 36 14 10 16 4 100
Involvement in the Performance Appraisal System

40 20 20 0 Immediate Self Superior Analysis included Peers included Customers 14 10 16 4 Overall Dept. Head 36
Both A & E
Percentage
INTERPREATION:
The above table reveals that 36% of the respondents say Self Analysis is included in Performance Appraisal, 20% say Immediate superior is involved in Performance Appraisal, 14% say peers are involved Where 10% say Customers are involved in Performance Appraisal system, 16% think Overall Department Head is involved and remaining 4% says both Immediate Superior and Overall Department Head are involved.
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14. Which of the following are covered in your organization?
Employees response Factories Act Pension Act Gratuity Act PF Both PF & Factories Act Total
No of respondents 08 06 10 11 15 50
Percentage 16% 12% 20% 22% 30% 100
Acts covered in the Organization

Factories Act Pension Act Gratuity Act PF 16% 30% 12% Both PF & Factories Act
22%
20%
INTERPRETATION:
From the above table it is concluded that 30% are covered under both PF and Factories Act, 12% are covered under Pension Act, 20% are covered under the Gratuity Act 16% are covered under the Factories Act, and remaining 22% of the respondents are covered under the PF Provident Fund.
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15. Do you have any incentive schemes in your organization? Incentive Schemes Yes No Total No. of Respondents 32 18 50 Percentage 64 36 100
Incentive Schemes
Yes No
36%
64%
INTERPRETATION:
According to the table 64% of the employees are receiving the incentives in the organization and 36% are not receiving incentives in the organization.
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CHAPTER 5
FINDINGS & SUGGESSTIONS
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FINDINGS
The most number of employees is encouraged to participate in training and development programmes to improve their skills and competencies. The most number of employees intimated that organization is providing opportunities for their career growth. It found that most of the employees intimated, the Training programs linked with their career development /growth. It found that most of the employees are intimated; their job profile is matching with their skills sets. It is found that the task allotted to the employees is according to their knowledge which helps them to complete the task efficiently. It found that management is extends support whenever the employees are facing any critical situation. It found that most of the employees are satisfied with infrastructure in the company. It found that most number of employees is satisfied with working environment. It found that most of the members have felt positive stress in completing task. It found that most of the employees are intimated, fun at work place increase the motivation level of employees.
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SUGGESTIONS
So many employees are not feeling well in handling stress with this company. so, conduct some stress relief sessions for employees. Except that stress factor, the company employees are satisfied with all another factors, continue these factors for smooth running of the organization. The organization has to design job profile with role clarity. The organization has to endure dyadic relationship between employer and employee through participation. The organization has to evaluate performance appraisal not based on performance but through behavior.
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CHAPTER 6
CONCLUSION ANNEXURE BIBLIOGRAPHY
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CONCLUSION
The process of work plan is not as easy as it seems. There are so many tactics and strategies used in HR work plan of employees by the organizations. The basic purpose of these strategies is to increase employees satisfaction, boost employees morale hence achieve organizational goal. If the employee satisfaction practices are good the employee stay for long time in the company. If the employee satisfaction practices are not good the employees switch over to other company. As it is important for the organization to have a familiar employees because they have knowledge about the firm rules and regulation and the practices made by the firm to achieve the goal on the work plan made by the human resource manager. Thus it is important to make the work plan efficiently and effectively the employees satisfaction is necessary and the process acquire should effect all the factors which influence the employee to remain in a same organization in which he/she working.
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BIBLIOGRAPHY
INTERNET

www.shriramchits.com www.google.com www.ask.com www.wikipedia.com
REFERANCE:
Human Resource Work Plan - Gary Mawhiney, Human Resources Management Program Lead/OMAFRA published January 2007 P.Subba rao, Personnel and Human resource management, Himalaya Publishing House Robert A. Gallagher, Organizational development: mergers and
organizational culture Gary Dessler, Biju Varkkey, Human Resouce Management, Pearson Education.
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ANNEXURE
1. What are the sources of recruitment process? a) Campus c) Paper Advertisement b) Reference d) consultancies
2. Which of the following traits is the basis for selection? a) Skills b) Attitude & Knowledge c) Learning Ability e) Experience d) both a and b
d) Smart & Hard work
3. Since how long you are working with Shriram? a) Below 1 year b) 2 years c) 3 years d) above 4 years 4. You are encouraged to participate in trainings to improve your skills and Competencies? a) Yes b) No 5. Do you feel that the organization provides opportunities for your growth and development? a) Yes b) No 6. Are your training programs linked with your career development /growth? a) Yes b) No 7. Does your job profile match with your skills sets? a) Yes b) No 8) Does your management come forward to support when you are facing with critical situation? a) Strongly Agree b) Agree c) Neutral d) Disagree
9. Do you have the materials and equipment you need to do your work right? a) Strongly agree d) Disagree b) Agree c) Neutral
e) Strongly Disagree
10. What do you feel about the working environment? a) Highly satisfied d) Highly dissatisfied 11. Would you like to put your efforts in reaching the organizations vision? a) Yes b) No b) satisfied c) Neutral e) Dissatisfied
12. Are you satisfied with the performance appraisal system? a) Yes b) No
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13. A) what is the selection process in your organization? __________________________________________________________________ __________________________________________________________________ __________________________________________________________________ B) What format of selection process would you suggest and why? __________________________________________________________________ __________________________________________________________________ _____________________________________________________________ 14. How many people are involved in placing a candidate in the required job? __________________________________________________________________ __________________________________________________________________ ______________________________________________________________ 15. Do you have any induction system in the organization? a) Yes b) No
If yes, how it is given? __________________________________________________________________ __________________________________________________________________ ______________________________________________________________ 16. Who among the following are involved in the performance appraisal system? A) Immediate superior (B) self analysis is also included (C) peers are also included D) Customers E) Overall department head F) Both (A) & (E) 17. Which of the following are covered in your organization? A) Factories Act D) Gratuity Act B) Maternity Act E) PF C) Pension Act F) Both PF & Factories act
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18. What is the basis for promotion? __________________________________________________________________ __________________________________________________________________ _______________________________________________________________ 19. Who takes care of the wage and salary administration? __________________________________________________________________ __________________________________________________________________ _______________________________________________________________ 20. Which of the following fringe benefits are given to employees? A) Housing facilities, B) education facilities, C) canteen facilities, E) conveyance facilities, F) Credit facilities, G) recreation facilities, H) medical facilities. . 21. Do you have any incentive schemes in your organization? a) Yes b) No
IF yes, what are those? __________________________________________________________________ __________________________________________________________________ _________________________________________________________ 22. Is employee turnover high in your organization if yes, what steps has to be taken in your point of view? __________________________________________________________________ __________________________________________________________________ _________________________________________________________
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Work Plan Review

Shriram Life Insurance

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

HUMAN RESOURCE MANAGEMENT

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

ACTIVITIES OF HUMAN RESOURCES MANAGEMENT:

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

MAJOR TREND AFFECTING HRM:

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

Work Plan Review

Shriram Life Insurance

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review A) OBJECTIVE OF HRP:

Shriram Life Insurance

Work Plan Review

Shriram Life Insurance

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

Shriram Life Insurance

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

THE JOINT VENTURE

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

VISION OF THE COMPANY

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

FUNCTIONAL DEPARTMENTS FINANCE DEPARTMENTS

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review CAPITALIZATION

Shriram Life Insurance

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance

HUMAN RESOURCE DEPARTMENT

Work Plan Review

Shriram Life Insurance

Work Plan Review

Shriram Life Insurance

Dept. of Management,Dr. K.V. Subba Reddy institute of Management.

Work Plan Review

Shriram Life Insurance