A STUDY OF THE

ORGANIZATIONAL CLIMATIC
CONDITIONS PREVAILING
INTRA-MURALLY IN A
FINANCIAL ORGANISATION

(A STUDY CONDUCTED AT BAJAJ ALLIANZ GENERAL

INSURANCE LIMITED IN PATNA WITH SPECIAL
REFERENCE TO JOB-STRESS MANAGEMENT)

(A report submitted in partial

fulfillment for the requirement of
the award of Honours Degree in
Business Administration)
UNDER THE GUIDANCE OF: REPORT COMPILED
DR. SUBROTO GUHA AND PREPARED BY:
(SENIOR FACULTY) SWATI SINHA
ROLL NO. 41
SESSION- (2007-10)

DEPARTMENT OF BUSINESS ADMINISTRATION

PATNA WOMEN’S COLLEGE
BAILEY ROAD, PATNA-800001
 Department of Business
Administration
Patna Women’s College
(NAAC Accredited-Grade A with CPE
Status)
Bailey Road
Patna-800001, Bihar

Date: ……………......

Guide’s certificate

To whom it may concern

This is to certify that this Project Report titled-“A Study of the

Organizational Climate prevailing Intra-Murally in a Financial
Organization” (A Study conducted at Bajaj Allianz General Insurance
Limited, Patna; with special reference to the management of the job stress),
has been compiled and prepared by Miss. Swati Sinha, Roll/41, BBA-I,
Session: 2007-2010; under my guidance and supervision.

This entire Project Work is an outcome of her own creativity, concept and
imaginative effort.

I recommend this Project for being accepted and evaluated.

Miss. Sweta Rani Dr. Subroto Guha
(Co-ordinator) (Senior Faculty)

ACKNOWLEDGEMENT
Any effort and activity always needs to be acknowledged by the person
concerned in terms of thanksgiving. At the outset, I extend my deep
gratitude to God Almighty without whose blessings and support, I could not
have undertaken this Project Assignment at Bajaj Allianz General Insurance
Limited.

My Parents- Dr. Pradeep Kr. Sinha and Mrs. R.K. Sinha an my elder brother
Mr. Mayank Sinha, have been very cooperative and supportive in every
respect as far as managing this entire activity has been concerned. My
Principal- Dr. Sister Doris D’Souza A.C. also needs to be thanked in this
regard for her valuable consent which she provided for my Summer
Training. My Faculty Members, consisting of my Co-ordinator Ms.Sweta
Rani, Ms. Shagufta Nasreen and others deserve special thanks for giving me
a positive guideline in every respect as far as preparing the complete report
is concerned.

This Report of mine would not have been completed without the active
support of my Senior Faculty- Dr. Subroto Guha, who was instrumental in
deciding the Project Theme and has been responsible for structuring the total
Report format including the Basic Project Protocol. This entire Report has
been his brain child and I owe him a deep sense of gratitude in this context.

My Friends- Ms. Jyoti Kumari, Ms. Jyoti Agrawal and Ms. Apurva have
been a great source of inspiration during this entire Project Study and I shall
never forget their support and co-operation.

The sense of gratitude shall not be complete, unless and until I express my
thanksgiving to Mrs. Alpana Singh, Branch Head in the Organization under
whose guidance this entire Study was conducted and completed. Without her
support and motivation, this entire compilation would not have been ready.

Finally I take this opportunity of extending my thanksgiving to each and

every individual, with whom I came across and who directly or indirectly
helped me in undertaking the study.
 Place- Ms. Swati sinha
Date-

CONTENTS
Ch. No. PAGE NO.

PREFACE

PROFILE OF THE STUDY

1. Hypothesis of the Study (i)
2. Objectives of the Study (ii)
3. Research Methodology (iii)
4. Limitations of the Study (iv)

Ch. 1 BAJAJ ALLIANZ GENERAL INSURANCE LTD.-An

Introduction
 Bajaj Allianz General Insurance Co.
 Business Focus
 Why Bajaj Allianz?
 Location of Bajaj Allianz General Ins. Offices in India
 Corporate Values
 Product and Services
 Current Position of Bajaj Allianz General Insurance Ltd.

Ch. 2 ORGANIZATIONAL FRAMEWORK

 Board of Directors
 Authority, Accountability & Responsibility Structure
 Organizational Hierarchy Structure of Bajaj Allianz General
Insurance, Patna
Ch. 3 COMMERCIAL PARAMETERS
 Financial Highlights
 Market Share Value
 Balance Sheet as at 31st March

Ch. 4 CONCEPT OF ORGANIZATIONAL CLIMATIC

CONDITIONS
  Literature Review of the Topic
 Organizational Change
 General Model for Integrating Cultural & Structural Change
 Organization of Core Competencies for Individuals Leading
Systematic Change Initiatives

Ch. 5 ANALYSIS & INTERRETATION OF THE STUDY

Ch. 6 FINDINGS OF THE STUDY

Ch. 7 CONCLUSIONS & RECOMMENDATIONS

BIBLIOGRAPHY

ANNEXURE
 PREFACE

Summer Training Programme and Projects are an inevitable part of

a Professional Curriculum. On-the-job Training is “to learn by
doing itself”. The total concept of summer training rotates around a
system of protocols where the trainee/participant plan Study and
the orientations being derived from the Study Concerns can
exposure to a level of knowledge. Keeping all this in view, I was
placed with the Bajaj Allianz General Insurance Company
Limited, Patna. I was assigned a task concerning a Study related to
Organizational Climatic Conditions prevailing Intra-Murally in a
Financial Organization with special reference to Job-Stress
Management and a hypothetical aspect of the standing of Bajaj
Allianz General Ins. Ltd. in Patna. The Profile Protocol of a Report
generally is based upon a conceptual framework so as to provide
précised information about the entire Project Work. Keeping this
point it has been conceived, studied and analyzed.
 Profile of
the study

Hypothesis of the Study

The principle hypothetical assumption of this study is based upon the fact
that every organization is subjected to an Organizational Climate, which
 surrounds the total organization from different angles and what is primarily
important refers to the internal setup and the Intra-Mural atmosphere.
Besides, the element of job related stress is quiet prominent and apparent in
every organizational scenario and precisely speaking, it needs to be managed
in a planned way so as to carve out the best possible results. This study
assumes that even in an organization like Bajaj Allianz General Insurance
Limited , the element of job related stress and the management of
Organizational Climate, needs to be correlated.

Objectives of the Study

This entire study has been designed and developed to undertake certain
specific Aims and Objectives, and the major ones in this regard are:-

 To access the Organizational Climatic Conditions which concern the

internal working ambience.

 To explore the Intra-Mural Organizational Environment with special

reference to the ‘Job Stress Element’.

 To explore the overall Organizational Conditions, so as to provide a

base which would from the angle of Management; help in correlating
the interaction between the Internal Organizational Climate and the job
related stress factors.

Methodology
The study is about the organizational climatic condition and the work stress
management in the Bajaj Allianz General Insurance Company Limited. The
study is done on the basis of both primary and secondary data bases
collected from the organization.

Primary Data Sources:

• Help of the questionnaire from non-executives.
• Informal talk with the executive personnel.
• Informal talk with the employees of the organization.

Secondary Data Sources:

• Induction Booklet regarding the information of the organization.
• Information from the organization’s website.
 Limitations

 Employees are hesitant to speak about the organization, as they feel

that this would hamper the image of their organization. They think it
will hamper the image of the company. This shows their loyalty
towards their company but it prevents them from giving the true
picture and hence affecting the outcome.

 Some of the employees were not willing to respond to the questions of

the survey as they believe that it would be of no use to them.

 Some of the responses which we received, we found were filled with

biasness.

Despite these limitations, the study was conducted and the compilation in
this project would prove the hypothesis with which we have proceeded.
 CHAPTER-1

BAJAJ ALLIANZ GENERAL

INSURANCE LTD.- An
Introduction
 Introduction

Bajaj Allianz General Insurance Company Limited is a joint venture

between Bajaj Auto Limited and Allianz SE. Both enjoy a reputation of
expertise, stability and strength.

Bajaj Allianz General Insurance received the Insurance Regulatory and

Development Authority (IRDA) certificate of Registration (R3) on May 2nd,
2001 to conduct General Insurance business (including Health Insurance
business) in India. The Company has an authorized and paid up capital of
Rs.110 crores. Bajaj Auto holds 74% and the remaining 26% is held by
Allianz SE.

As on 31st March, 2007 Bajaj Allianz General Insurance maintained its

premier position in the industry by gamering a premium income of Rs.1803
crore. Bajaj Allianz has a profit before taxes of Rs.117 crore and emerged as
the first private insurance company to make profit before taxes of more than
Rs.100 crores. The company also was one of the highest profitable insurer
among private insurance companies and made a profit after tax of Rs.75
crores. Bajaj Allianz is the only company to make underwriting profits for
the last three years consecutively.
Vision:

• To be the first insurer for customers.

• To be the preferred employer for staff in the insurance industry.
• To be the number one insurer for creating shareholder value.

In the first quarter of the current financial year, 2007-08, Bajaj Allianz
garnered a premium income of Rs.547 crores, achieving a growth of 27%
over the last year for the same period and Net profits rose to Rs.21 crores.

Mission:

As a responsible, customer focused market leader, we will strive to

understand the insurance needs of the consumers and translate it into
affordable products that deliver value for money.

A Partnership Based on Synergy

Bajaj Allianz General Insurance offers technical excellence in all areas of
General and Health Insurance as well as risk management. The partnership
successfully combines Bajaj Auto’s in-depth understanding of the local
market and extensive distribution network with the global experience and
technical expertise of the Allianz Group. As a registered Indian Insurance
Company and a capital base of Rs.110 crores, the company is fully licensed
to underwrite all lines of general insurance business incl. health insurance.
 Bajaj Allianz General
Insurance Co.

Bajaj Allianz General Insurance Company Limited is a joint venture

between two conglomerates- Allianz AG, one of the world’s largest
insurance companies, and Bajaj Auto, one of the biggest two three wheeler
manufacturers in the world. Bajaj Allianz General Insurance has a
shareholder base of over Rs.700 crores with an asset management value of
Rs.5500 crores and over 850 offices and 4 million satisfied customers.

Company Background

Bajaj Allianz General Insurance Company Limited (The Company) was

incorporated on 31st March, 2001 as a Company under Companies Act,
1956. The Company obtained a license from the Insurance Regulatory and
Development Authority (IRDA) for carrying on the business og general
insurance on 2nd May, 2001. The license has been renewed for the financial
year ended 31st March, 2007.

The Company is a joint venture between Bajaj Auto Ltd. (74 percent) and
Allianz SE (26 percent). The Company has a wide range of products in
traditional and unit-linked insurance business.
The Joint Venture

Bajaj Allianz General Insurance Co. Ltd. is a Joint venture between Allianz
AG Bajaj Auto Limited characterized by global presence with a local focus
and driven by customer oriented to establish high earnings potential and
financial strength. Bajaj Allianz General Insurance Co. Ltd . was
incorporated on 31st March, 2001. The Company received the Insurance
Regulatory and Development Authority (IRDA) Certificate of Registration
(R3) on 2nd May, 2001 to conduct general insurance in India.

Bajaj Auto Limited

The flagship company of Bajaj Group was incorporated in 1945 as Bachraj

Training Corporation. Initially, it started by assembling two and three
wheelers in collaboration with Piaggio of Italy. After the expiry of the
agreement in 1971 the two and three wheelers acquired the brand name of
Bajaj. The strength of the company lies in its strong brand image and ability
to offer value for money products leveraging on its large-scale operations.

Bajaj is one of the India’s largest two and three wheelers manufacturer and
the fourth largest manufacturer of two wheeler in the world, with an annual
turnover of Rs.42016 billion.
Allianz AG

Allianz group was founded in 1980 and is one of the world’s leading
insurance companies with over 100 years’ experience in insurance and
related services. It is also the largest insurer in Europe. Allianz group has
multi-local structure and presence in over 70 countries. The key business
area of Allianz group includes Life Insurance, Reinsurance, Risk
Management, General Insurance, Asset Management and Pension Fund
Management.

Cornhill Insurance in the United Kingdom, Fireman’s Fund in the United

States of America, AGE in France, RAS s.p.a. in Italy, MMI in Australia are
some companies under Allianz group.

Allianz SE

Allianz SE is a leading insurance conglomerate globally and of the largest

asset managers in the world, managing assets worth over a Trillion Euros
(Over Rs.55,00,000 crores). Allianz SE has over 115 years of financial
experience in over 70 countries. Allianz has insured most of the world’s
largest infrastructure projects, further Allianz insures the majority of the
fortune 500 companies, besides being a large industrial insurer, and Allianz
has a substantial portfolio in the commercial and personal lines sector, using
a wide variety of innovative distribution channels.
Allianz SE has the following to offer Bajaj Allianz General Insurance
Company Ltd.:

• Set up and running of General insurance operations.

• New and improved international products.
• One of the world's leading insurance companies.
• More than 700 subsidiaries and 2 lac employees in over 70 countries
worldwide.
• Provides insurance to almost half the Fortune 500 companies.
• Technology.

Other similar businesses:

The promoters have also incorporated a Life insurance Company in India,

called Bajaj Allianz Life Insurance Company Limited to provide life
insurance solutions.
 Business Focus

The business strategy of Bajaj Allianz General

Insurance Co. Ltd. is to position itself as a leading
corporate and retail insurance company catering to
the needs of its customers by providing a bouquet
of products that will cater to every need.

At Bajaj Allianz General Insurance, the guiding principles are customer

service and client satisfaction. All efforts are directed towards understanding
the culture, social environment and individual insurance requirements of its
customers so that it can cater to their varied needs.

The company work closely with leading intermediaries including corporate

agents; motor dealers; agents; banks; associations and other intermediaries
to focus on corporate and retail businesses. At Bajaj Allianz General
Insurance, it leverages the customer base and expertise of Bajaj Auto
Limited and Allianz AG.
The company is technology driven and strives to set up world-class
technological infrastructure. This includes a renowned software; networking
of all offices and intermediaries as well as the ability to interface with
customers via all media.
 Why Bajaj Allianz ?

The Bajaj Allianz Difference

 Business strategy aligned to clients' needs and trends in Indian and

global economy / industry.

 Internationally experienced core team, majority with local
background.
 Fast, decentralized decision making.

 Long-term commitment to market and clients.

Trust
At Bajaj Allianz, we realize that you seek an insurer whom you can trust.
Bajaj Auto Limited is a part of Bajaj group, which is a trusted name for over
55 years in the Indian market and Allianz SE has over 110 years of global
experience in financial services. Together we are committed to provide you
with time tested and trusted financial solutions that provide you all the
security you need for your investments.
Underwriting Philosophy

Our underwriting philosophy focuses on:

 Understanding the customer's needs.

 Underwriting what we understand.

 Meeting the customer's requirements.

 Ensuring optimal coverage at lowest cost.

Claims Philosophy
The Bajaj Allianz team follows a service that aims at taking the anxiety out
of claims processing. We pride ourselves on a friendly and open approach.
We are focused towards providing you a hassle free and speedy claims
processing. Our claims philosophy is to:

 Be flexible and settle fast.

 Ensure no claim file to be seen by more than 3 people.

 Check processes regularly against the global Allianz OPEX

(Operational Excellence) methodology sold over 1 million since

inception.

Customer Orientation
At Bajaj Allianz, our guiding principles are customer service and client
satisfaction. All our efforts are directed towards understanding the culture,
social environment and individual insurance requirements - so that we can
cater to all your varied needs.

Experienced and Expert Servicing

Team
We are driven by a team of experienced people who understand Indian risks
and are supported by the necessary international expertise required to
analyze and assess them. Service engineers are located in every major city.

Superior Technology

 In order to ensure speedy and accurate processing of your needs, we

have established world class technology, with renowned insurance
software, which networks all our offices and intermediaries.

 Using the Web, policies can be issued from any office across the

country for retail products.

 Unique, user friendly software developed to make the process of issue

of policies and claims settlement simpler (e.g. online insurance of

marine policy certificate).

Unique Forms of Risk Cover

  Special PA cover for Amarnath Yatris.

 Film insurance.
 Event management cover.
 Sports & Entertainment Insurance Package.

Risk Management- Our Expertise

The service methodology is tried, tested and Proven the world over and
involves:

 Risk identification: Inspections.

 Risk analysis: Portfolio review and gap analysis.

 Risk retention.
 Risk Transfer: To an insurer as well as reinsurer (as required).

 Creation of need based products.

 Ongoing dialogue and proactivity.
A well knit network with nationwide presence
Bajaj Allianz today has a network presence in over 200 towns spread across
the length and breadth of the country. From Surat to Siliguri and Jammu to
Thiruvananthapuram, all the offices are interconnected with the Head Office
at Pune.

The Company has an offsite disaster recovery centre for its data back ups,
which is in separate seismic zone from the main data centre. It has a wide
network and is spread in almost all over the country.

Bajaj Allianz General Insurance is the only Insurance company in India that
has been showing underwriting profits for the past 6 years consistently.
 Corporate Values

The core values are the never-changing definition of who we are and what
we stand for as Bajaj Allianz. They form the very foundation of the business
and guides every action and thoughts of the company.

There are 7 corporate values that they have that and they will look at each
one of them in details.

Value 1- Customer First

Philosophy: Customer First, Always.
Guide for Action: Give first priority to customer needs. Look to build
enduring relationships with customers- external and internal. Differences
should be communicated in the spirit of relationship building.

Value 2- Organization Above Self

Philosophy: Believes that individual, team and department actions will be
driven by organization goals.
Guide For Action: When in dilemma, they will choose decisions that
help the organization achieve its goals. This may at times mean giving up
their individual preferences.

Value 3- Trust
Philosophy: Believes that there cannot be teamwork without mutual trust.
Trust is fundamental to their business and will guide all internal and external
interactions.
Guide For Action: Know that they are trusted. The responsibility of
maintaining this trust is with each of them. Trust includes transparency
feedback and accountability for lapses.

Value 4- High Standards

Philosophy: Believes that excellence can be achieved only by setting
benchmarks that challenge their full potential as an organization as an
individuals.
Guide For Action: When in dilemma, they will choose decisions that
help the organization achieve its goals. This may at times mean giving up
our individual preferences.

Value 5- Shared Ownership

Philosophy: Believes that ownership of success or failure in achieving
organizational or team goals is shared by all.
Guide For Action: Team goals are achieved only if each team member
achieves his/her individual goals. While owning our individual
responsibilities they will seek opportunities to contribute to and be
accountable for achieving team and organizational goals.

Value 6- Spirit Of Adventure

Philosophy: Uncertainty is their business and they believe in continuous
innovation and creativity to meet challenges head-on. They will foster a
work culture that promotes risk taking and entrepreneurship.
Guide For Action: New ideas are to be encouraged. They will look for
creative ways of dealing with challenges. If something can be done better,
they will try it. If something does not make sense, they will change it.

Value 7- Respect For Diversity

Philosophy: Believes that diversity is our strength and needs to be
nurtured. They recognize that team-members have varying backgrounds,
competencies, ideas and constructive action results only when opinions are
aired and understood.
Guide For Action: They will remain open to and evaluate viewpoints of
all team-members before arriving at a final decision. They will remain
overcome personal and cultural biases in dealing with situations.

Product and Services

Bajaj Allianz General Insurance Co. offers a majority of products available
in India and internationally.

PRODUCTS

HEALTH LIABILITY MOTOR

INSURANCE
Personal Guard Product 2 wheelers
Directors &
Group Mediclaim 4 wheelers
Officers
Health Ensure Public Liability Common Vehicles

Critical Illness

MICELLANEOUS SPECIALITY ENGINEERING

LINES
Shopkeepers Package
Jeweller’s Block Industrial All risk
Office Package
Workmen’s Aviation Erection All Risk
Compensation Constructor All Risk
Fidelity Guarantee Public Liability

Currently the Indian insurance market is De-Tarrifed, meaning the insurer

has got the liberty to charge/frame terms based on assessment of the risk
proposal. Some of the most important products and services rendered by the
company are:
 • Risk Analysis
• Risk Grading & Risk Control
• HAZOP Studies
• Safety Audit
• Disaster Management Planning
• Risk Management training
• Development and Monitoring of Risk Management Programmes
• Insurance Portfolio Analysis
• Accident Investigations

A Range of Corporate and Retail

Products
DE-TARRIFED PRODUCTS SINCE JANUARY’07:
• Industrial All Risk
• Workmen’s Compensation
• Engineering-Operational (includes Contractor’s Plant and Machinery,
Electronic Equipment, Loss of Profits, Boiler Explosion, Machinery
Breakdown, Deterioration of Stocks)
• Engineering-Projects (includes EAR, CAR and ALOP)
• Fire (including Consequential Loss)
• Motor (includes private cars, two wheelers and commercial vehicles)

OTHER PRODUCTS:
• Health • Shopkeepers
 Personal Guard • Fidelity Guarantee
 Hospital Cash • Office Package
  Health Guard • Motor Dealer’s Package
 Critical Illness • Marine Cargo
 Silver Health • Marine Hull
 E-opinion • Public Liability Act
 Star Package • Public Liability
• Overseas Travel • Product Liability
• Swades Yatra • Composite Public Product
• Aviation Liability
• Tea Crop Insurance • Professional indemnity
• Burglary • Farmer’s Package
• Cash • Cattle Insurance
• Plate Glass • Credit Insurance
• Householders

In addition to the above products and services, several customized & co-
branded products for banks are also available.

Corporate Agents, Brokers And

Franchises
• A constantly growing nationwide network of corporate agents,
Brokers and Franchises.
• A decentralized, dedicated team of professionals help results, develop
and support Corporate Agents, Brokers and Franchises.

Group Business
• A growing product range to meet generic and specific needs of
various groups like Group Team Insurance , Gratuity, Group
Superannuation, MRTA, GTL in lieu of EDU are a few among
many others.
 • A dedicated team ensures best standards in terms of services and
delivery.
• 200 Group Schemes.

Inline Selling and Renewals

• An online customer portal for policy servicing issues.

Financial Services Consultants

• A panel of expert financial advisors to address comprehensive
financial planning needs for high net worth clients.
• Products designed to suit your needs.

Agency Channels
• A country wide network of 1000 offices.
• Over 8,500 Sales Team Managers.
• Over 1,50,000 Insurance Consultants.
• Over 1,50,000 Satisfied Customers.

Banc assurance
Banc assurance is one of the key business strategies and forms the core focus
area. It has tie-ups with several leading national and private sector banks.
• Standard Chartered Bank.
• Syndicate Bank.
• Other leading Co-operative Banks.
 • Ever-expanding reach, through tie-ups with Regional Banks.
• Exclusive General Insurance Products- MRTA and Credit Sales.
• Products customized to suit specific needs of banks and their
customers.

Alternative Channels
• The Strategic Alliances group at Bajaj Allianz focuses on
strengthening the business through ‘Group Insurance 3’ and
‘Corporate Agency’ activities.

Current Position of Bajaj

Allianz General Insurance

Financial year 2007-08 was very satisfying as it crossed many milestones

and set few records. The year has been a rewarding one for the company on
profitability as well as growth. The Company has emerged as one of the
leading private general insurance companies with a strong brand name and
multi-channels Pan-India distribution network.

SOME OF THE KEY PERFORMANCE INDICATORS ARE:

• It maintained its premium position in the industry garnering a

premium income of Rs.1,803 crores.
• Bajaj Allianz has made a profit before taxes of Rs.117 crores.
• Emerged as the first Private Insurance Company to make profit
before taxes more than Rs.100 crores.
• Company was also one of the highest profitable insurer among
insurance companies and made profit after tax of Rs.75 crores.
• Bajaj Allianz is the only company to make underwriting profits for
the last three years.

During the year under review general insurance industry registered a growth
of 24% by writing gross premium of Rs.227 billions during April 2007 to
February 2008 from Rs.183 billions in the corresponding period of the
previous year. The Private Sector companies grew by 48% increasing their
share to Rs.80 billions compared to Rs.54 billions in 2006-07. The company
grew by 40% and maintained its second position among the private sector
companies.

The major development was the formation of the third party motor
reinsurance pool for commercial vehicles. This pool has come into effect
from 1st April’07. Although the third party motor insurance rates have been
increased by up to 75%, the increase is substantially lower than what is
required for companies to earn a reasonable economic profit.

Efficient customer service is a sine qua non of any service industry,

particularly general insurance. The company had undertaken a customer
satisfaction survey for motor insurance, which is the most visible line of
retail business. The survey was done to measure Net Promoter score (NPS),
which can be a benchmark of customer satisfaction. The feedback from the
survey has enabled the company to launch several initiatives which will
further enhance its leadership in customer services.

The “online selling” channels initiated a year ago to tap the growing internet
user populations was consolidated, thus offering the convenience to the
customers. It has also helped in enhancing services to the customers through
direct contact as well as to acquire new customers.

Geared to Perform:
 Products tailored to suit the needs of the customers.
 Decentralized Organizational structure enables faster response.
 Wide reach to serve customers’ better- a network of thousand officers
across India.
 Specialized departments for banc assurance, corporate agencies and
group business.
 Well networked customer care centers with state of the art IT systems.
  High standard of customer services and simplified claim settlement
process.
 Website to provide all assistance and information across all products
and services, online buying rewards.
 Toll free numbers to answer all queries.
 A strong telemarketing and direct marketing team.

Achievements:
Bajaj Allianz has received "iAAA” rating, from ICRA Limited,
an associate of Moody's Investors Services, for Claims Paying
Ability. This rating indicates highest claims paying ability and a
fundamentally strong position.

CHAPTER-2
ORGANIZATIONAL
FRAMEWORK

Board of directors
RAHUL BAJAJ DR. WERNER ZEDELIUS
Chairman, Board of Management,
Bajaj Auto Ltd. Growth Market,
Allianz SE.

NIRAJ R. BAJAJ HEINZ DOLLBERG

Managing Director, Executive Vice-President,
Promoter- Head of Asia Pacific,
Bajaj Group. Allianz SE.

SANJIV BAJAJ DON NYUGEN

Managing Director, Senior Vice-President,
Bajaj Capital Limited. Head of Property & Casualty
 Allianz Asia Pacific.

RANJIT GUPTA BRUCE BOWERS

Vice-President CEO, Allianz Insurance

(Insurance), Management,

Bajaj Auto Ltd. Asia Pacific Pvt. Ltd.

DIPAK PODDAR SWARAJ KRISHNAN

Managing Director, CEO, Bajaj Allianz General

Bajaj Auto Finance Ltd. Insurance Ltd.

Authority,
Responsibility
and
Accountability
Relationship
Structure
 CEO
Swaraj
Krishnan
Pune HO

Head-IT Head-Internal
Thomas Audit
Varghese Ketul Patel
Pune HO Delhi HO

Head-Corp Head Global

Commn Accounts
Satntosh Balan Carsten Glombik
Pune HO Pune HO

Technical Heads
Zonal Managers
All Lines

Head-Motor Zonal Manager Zonal Manager State Head

Head- Claims Tapan Singhel Easwara Narayan Hren Vora
Underwriting Vijay Kumar Delhi RO Mumbai RO Ahmedabad
T.A. Ramalingam Pune HO
Pune HO

Head-Health Head-Non Motor Responsible for:

Insurance Claims North Zone,
Shreeraj Sanjay Moholkar Responsible for:
Delhi NCR,
Deshpande Pune HO South Zone,
East Zone,
Pune HO Mumbai and
Central
Central
Zone(MP &
Head-Ops & Head- Chhatisgarh
Renewals Reinsurance only)
Atul Deshpande Rajeev Singh
Pune HO Pune HO

CFO
S. Sreenvasan Head-HR
Pune HO Roopa Kochhar
Pune HO

DEPICTED ABOVE IS THE ORGANIZATION CHART OF PEOPLE WHO REPORT TO

THE CEO, MR. SWARAJ KRISHNAN
 National HOD’s Marketing

CEO
Swaraj Krishnan

GM-Retail Mktg. Head-Direct Mktg &

Atanu Mukherjee Agency
Pune HO Anamika Royrashtrawar
Pune HO

Travel & Motor

Banc assurance Agency DM
Dealers
Amitava Biswas Chetan prakash Atul Mehta
Shiva Shankar
Pune HO Pune HO Pune HO
Pune HO

The Technical Heads are located at the corporate office and have functional
reporting from the regional and branch offices.

To take care of multi-location activities, we have currently 9 regional offices

and are operational is a total of 169 Offices.
 Organizational
Hierarchy
Structure Of
Bajaj Allianz
General
Insurance, Patna
 Branch head
Alpana singh
Administration AVP Mktg
IT-Head
Priyamvda Vardhan Vishal, IT C
Admin Exec.
Operations
Accounts
Rajeev Ranjan Mukesh Kumar Kumar Prakash
Branch Accountant DEO DEO

Underwriter Banc assurance

Amit Kumar
Yashshavi Bakshi Mayank Ranjan
Anunay Kumar Relationship Manager-
Non-Motor Ops Banc assurance
Motor underwriting Axis
underwriting
Sushant Shekhar Rajendra kr. Thakur
Relationship Manager-UBI Relationship officer

Saba Naseem Manjeet Saurabh

Relationship Manager-HDFC Relationship Manager-HDFC

Motor Agency

Rajesh Kr. Das Rakesh Ranjan Vikash Kumar Dhananjay Kumar Anshu Sinha
Sr. Exec. CSR/Mktg Executive Jr. Exec. Mktg Agency Admin.

Dharmendra Pratap
Suraj Kr. Singh
Singh
Jr. Exec Mktg.
CSR

Claims Direct Mktg.

Naveen Gaurav Aditya Verma
Kumar Dushyant Syed Waqar Ahmed
Jr. Team Leader Operation
Service Engineer Jr. Service Engineer

Ravi Kant Chandan Kumar

Dhiraj Kumar Amit Kumar
Sales Officer Sales Officer
Service Engineer Service Engineer

Amir Alam Anil Kumar

Arvind Kumar
Sales Officer Sales Officer
Service Engineer

Rahul Kr. Singh Vikash

Sales Officer Sales Officer

Hansraj Balmiki Sanjeev Kr. Singh

Sales Officer Sales Officer

Santosh kr. Singh Rakesh Kumar

Sales Officer Sales Officer

Manoj Kumar
Sales Officer
 CHAPTER-3

COMMERCIAL
PARAMETERS
 Financial Highlights

Financial parameters: In Millions (Rs.)

PARTICULARS 04-05 05-06 06-07

Gross Written Premium 8,561 12,846 18,033
Net Written premium 4,793 6,987 10,398
Net Earned Premium 3,709 5,864 8,385
Net Incurred Claims 2,263 4,100 5,556
Net Commissions 419 622 786
Net Retention Ratio 56% 54% 58%
Claims Ratio 61% 69.9% 66%
Combined Ratio 89.9% 96.1% 97%
Others 28 68 21
Profit Before Tax 770 818 1,170
Net Profit 471 520 750
Gross Claims Paid 2,685 7,496 7,234
No. of Policies Issued 2,177,766 3,946,105 4,901,754
No. of Claims Handled 146,830 241,670 284,184
Management Expenses -1,455 -2,156 -3,454
Management Expenses Ratio 40% 37% 41%
Income from Investments 388 570 895
Shareholder’s Equity 1,824 2,767 4,116
Return on Equity 34% 23% 22%
Assets under Management 924 1,371 2,540
 Growth Premium Underwritten For And Up to
The Month Of January 2008
APRIL-JANUARY GROWTH Mkt.
INSURER 2007-08 2006-07 Share
(%)
(%)
Royal Sundaram 566.20 494.13 14.58 2
Tata-AIG 672.28 636.27 5.66 3
Reliance General 1673.64 712.26 134.98 7
IFFCO-Tokio 927.47 925.00 0.27 4
ICICI-Iombard 2903.10 2601.56 11.59 12
Bajaj Allianz 1925.46 1474.27 30.60 8
HDFC General 185.98 156.21 19.05 1
Cholamandalam 435.52 258.65 68.38 2
Future Generali 5.43 0.00 - 0
New India 4361.44 4099.73 6.38 19
National 3296.06 3108.45 6.04 14
United India 3076.39 2901.45 6.02 13
Oriental 3224.71 3305.00 -2.43 14
PRIVATE TOTAL 9295.08 7258.36 28.06 40
PUBLIC TOTAL 13958.60 13414.96 4.05 60
GRAND TOTAL 23253.68 20673.32 12.48 100
SPECIALISED INSTITUTIONS:
1. Credit Insurance (ECGC) 530.95 492.78 7.75 -
2. Health Insurance
Star Health & Allied Insurance 157.25 16.86 832.67 -
Apollo DKV 0.61 0.00 - -

Balance Sheet as at 31st March

PARTICULARS SCHEDULE 2006 2007
SOURCES OF FUND
Shareholders’ Fund:
Share Capital 5 1,100,500 1,101,331
Reserves & Surplus 6 1,570,220 2,932,834
Fair Value Change Account 96,651 81,570
Borrowings 7 - -
Total 2,767,3710 4,115,735
APPLICATIONS OF FUNDS
Investments 8 7,580,193 13,004,052
Loans 9 - -
Fixed Assets: 10
Gross Block 707,409 918,458
Less:-Accumulated Depreciation 363,389 533,424
Net Block 344,020 385,034
Capital Work-in-Progress 8,948 112,812
352,968 497,846
Deferred Tax Asset 53,579 100,050
Current Assets:
Cash and Bank Balances 11 981,005 2,240,408
Advances and Other Assets 12 1,665,092 1,118,303
Sub-Total(A) 2,646,097 3,358,711
Current Liabilities 13 4,081,074 7,016,903
Provisions 14 3,784,392 5,828,021
Sub-Total(B) 7,865,466 12,844,924
Net Current Assets (C)=(A-B) (5,219,369) (9,486,213)

Miscellaneous Expenditure(to the extent not 15 - -

written off or adjusted)
Debit Balance in Profit and Loss Account - -
Total 2,767,371 4,115,735

CHAPTER-4

CONCEPT OF
ORGANIZATIONAL
 CLIMATIC
CONDITIONS

A Study of Organizational Climatic

Conditions Prevailing Intramurally in a
Financial Organization

Over the past few decades large-scale organization change has become a
way of life in American business. TQM, cycle-time reduction, process re-
engineering, theory of Constraints, and general flattening of the organization
have, at various times, led the parade of favored approaches to organization
change.
But many organization change initiatives, in these or other forms, have
failed to deliver promises of increased productivity and morale, decreased
costs, decreased waste, and increased customer satisfaction. McKinsey has
reported that more than two-thirds of Quality initiatives over the past few
decades have failed to realize the benefits stakeholders expected.

Often among the failures common themes has been the lack of collaborative
cultural inquiry and re-designs. New work structures− such as autonomous
teams− are established and people simply are expected to become
empowered by these new ways in which they are working. Yet, largely due
to a lack of understanding of the power of the collective human system to
obstruct the progress of initiatives, many merely structural change programs
have foundered. A sad result of these failures has been to reinforce fear,
defensiveness, and cynicism among people at work toward organization
change efforts.

In cases of successful, durable change, what are the characteristics of these

programs that we can point to as important factors in the successes to date?
If there are common factors in successes, what are they, and how can we
learn whether these and/or other factors may be helpful for particular change
agendas? And even if we can point to fortunate success stories, the question
arises: what is missing in these initiatives that could help them be even more
successful?

As the 21st Century dawns we increasingly see a move toward the

integration of methods and techniques from widespread disciplines into
meta-methodologies for organizational change. In a spirit of cross-
disciplinary inquiry, practitioners from fields as diverse as family therapy,
martial arts, systems science, and organizational behavior are working
together in teams to design new, more sophisticated approaches to change.
This monograph sketches one particular, integrative approach to
organization change. This integrative approach seeks to help organizations
continually reinvent themselves by helping the people in them develop and
refine new sets of interlinked skills and capabilities, ones that will help them
become powerful players in the dynamics of change, minimizing the
likelihood that they or their organizations will be left in the dust.

The general, or contextual, model of organization change

is one featuring at least three streams of coordinated
inquiry and design. These streams correspond with the
following categories of group activity:
1 ) Structural: In which work structures, processes, and procedures are
examined, diagnosed, re-engineered, implemented, and evaluated.

2 ) Group tools and skill building: In which individuals in groups

develop enhanced skill in managing group processes. Includes
meeting facilitation, the use of group problem-solving and continuous
 improvement skills, and development of skills for establishing
dialogue as a model of exploratory group communication.

3 ) Cultural: In which all the stakeholders examine the culture and

values they currently have, reinventing them, if necessary, to help the
people work together effectively in new and more effective ways.
Additionally, practices from fields such as family therapy,
mindfulness meditation, and the martial art of Aikido are offered for
enhancing individual leadership through increasing inner mastery.

Organizational Change

Organizational Change is the process by which organizations move from

their present state to some desired future state to increase their effectiveness.
Characteristically change is:-
 Vital if accompany were to avoid stagnation;
 A process and not an event;
 Normal and constant;
 Fast and is likely to increase further in the present competitive
business;
 ‘Directive’, that is, implemented by ‘top down’ management or
‘participative’, that is, involving those parties impacted by change;
 Is ‘natural’, that is, evolutionary or ‘adaptive’, that is, a reaction to
external circumstances and pressures;
 Is interdependent on organizational climate or culture.
Significant organizational change occurs, for example, when an organization
changes its overall strategy for success, adds or removes a major section or
practice, and/or wants to change the very nature by which it operates. It also
occurs when an organization evolves through various life cycles, just like
people must successfully evolve through life cycles. For organizations to
develop, they often must undergo significant change at various points in
their development. That's why the topic of organizational change and
development has become widespread in communications about business,
organizations, leadership and management.

Leaders and
managers continually
make efforts to
accomplish
successful and
significant change --
it's inherent in their
jobs. Some are very
good at this effort
(probably more than
we realize), while
others continually
struggle and fail. That's often the difference between people who thrive in
their roles and those that get shuttled around from job to job, ultimately
settling into a role where they're frustrated and ineffective. There are many
schools with educational programs about organizations, business, leadership
and management. Unfortunately, there still are not enough schools with
programs about how to analyze organizations, identify critically important
priorities to address (such as systemic problems or exciting visions for
change) and then undertake successful and significant change to address
those priorities.
A General Model for Integrating
Cultural and Structural Change
Many individuals in successful organizations have developed skills in
refining both structural stream activities, and group process and meeting
management. Fewer appear to have developed skill in speaking and listening
in order to lead non-coercive cultural inquiry and design. Fewer still appear
to have established practices of mindfulness, grounded presence, and
connectedness with others which can lead to increased leadership through
inner mastery.

In order to support systemic change management by preparing people for its

complexities, the following organization of nested core competencies is
offered. This model suggests that some capabilities are more critical to an
individual’s ability to be effective in change initiatives. Interestingly, until
very recently, only the outermost layer of skills− those of structural inquiry
and design− has been considered necessary. However, due to the complexity
of integrating change in both structural and cultural streams, and due to the
stresses that arises out of our existing habits of conversation and our
physical reactions to surprises or ambiguity, the three inner layers have
begun to attract more attention by change theorists and practitioners.

Inner Mastery: The innermost circle denotes that set of practices and
skills by which individuals are able to maintain a grounded, focused, and
authentic presence in the midst of mounting chaos and stress. Individuals
with developed skill in Inner Mastery tend to appear to others as leaders
worthy of trust. Leaders with Inner Mastery skills can sense and maintain a
connection with others because they are more completely in touch with
themselves. In contrast, most of us are not at all at home in our bodies.
We are not in touch with the physical sensations that may accompany our
being effective or ineffective. We do not have a sense of where our physical
center is, and our reactive thoughts and fears seem to drag us in every
direction, especially in stressful situations.

Approaches to helping individuals develop a more embodied presence

include forms of mindfulness meditation and martial arts training. Within
the field of martial arts, the art of Aikido stands out as a useful path because
of its focus on the dynamic connection among individuals, and because of its
emphasis on the harmonious resolution of conflict through collaborative
movement, not force. With increased mindfulness that comes with practice
we are able to notice more rapidly when we are drifting off of our center,
and are able to bring ourselves back to center more rapidly and gracefully.

The application of Aikido principles in workplace training is becoming

increasingly recognized as a potentially powerful, new form of
organizational learning. Recent books such as An Unused Intelligence and
Leadership Aikido explicitly prescribe Aikido based exercises for dealing
with difficult work and leadership issues. Non-strenuous exercises such as
these bring participants to the experience of merging with another’s energy
through physically moving in connection with the other as an alternative to
resisting or giving in. Within the past year the Dialogue Project and the
Society for Organizational Learning, both at MIT, have recognized the value
of through-the-body learning, based on Aikido principles, and are working
to integrate this mode of learning into their various approaches.
Organization of Core Competencies
for Individuals Leading Systemic
Change Initiatives
1 ) SKILLFUL SPEAKING AND LISTENING: The second inner-most
layer, that of leadership through skillful speaking and listening, includes
communication skills for enhanced inquiry, clearer action commitments,
and for dealing more effectively when breakdowns occur. Leaders with
these skills tend to make clearer requests, be more accountable for their
promises, and more likely to hold colleagues accountable for their
commitments in ways that lead to a minimum of defensiveness and
resentment.

As communication breakdowns occur, leaders with these communication

skills are more effective at driving conversation leading to effective
corrective action, rather than to defensiveness, resentment, and distrust.

Key among the approaches to enhancing effective communication so that

individuals can realize these capabilities is a blend of the speech act work
of Fernando Flores with the values-based action research of Chris
Argyris and Donald Schon. The latter approach is especially valuable
insofar as it establishes a pathway to personal growth that minimizes the
likelihood of coercive, manipulative coaching. A value, drawn from
Argyris and Schon, upon which this blend of approaches rests is that of
promoting free and informed consent of participants to methods,
coaching, and techniques they will encounter during training and daily
life at work.
2 ) GROUP SKILLS FOR PROCESS MANAGEMENT: The third layer
from the center denotes skill in meeting facilitation and the use of tools
for making group processes leading to decisions and action more
effective and collaborative. These skills have become increasingly a part
of organizational training and practice over the past 15 years, and most
managers are familiar with their use.

3 ) STRUCTURAL AND ORGANIZATIONAL DESIGN: The fourth

layer denotes the category of reengineering tools, capabilities, and
practices that are most familiar to change agents. Those of organizational
and process diagnosis, design and implementation. Among these are
traditional TQM, Process Re-Engineering, Matrix Organization, and so
forth.
Helping individuals to develop capabilities from within all four circles
appears to provide them with domains of expertise for driving effective
change that traditional structural-only models have lacked. The challenges in
designing effective, non-coercive training processes for the inner circles are
formidable. Yet the potential gains for effective change management appear
great enough to warrant the development of suitable new practices.

It is important to acknowledge that there is likely to be no single, general

model for organization change. These models are offered as conversation
starters, or checklists for developing strategies for driving effective change
in organizations by the people who will live and work in the organizations
either anticipating change or in the middle of it already.
 CHAPTER-5

ANALYSIS &
INTERPRETATION OF
THE STUDY
 Analysis & Interpretation of
the Study

Study Interpretations are always carried out on the basis of analyzing and
interpreting the primary data
which has been gathered and
on the basis of the assessment
which is carried out, therein.

This chapter focuses upon

this very aspect and effort has
been made to conduct a
detailed analysis as under.

1. Analysis of question no.2:

Designation /Management Level.

Top Level Middle Level Lower Level

Management Management management
No. of Employees 9 27 34
Total no. of employees 70 70 70
Percentage 12.8% 38.6% 48.6%

The first area of analysis which concerns my study relate to the designation
criteria and obviously displays its relationship with the management level.
My responses in terms of respondents falling under the top management
amount 9(12.8%), middle level amounting to 27(38.6%) and bottom level
amounting to 34(48.6%). This means that the majority of my respondents
who were investigated for their opinion on organization climate changes fell
under the bottom level management and the minimum being under the
category of top management. This entire picture could be depicted through
the following bar diagram:-

60

50

40

30

20

10

0
Top Level Mgt. Middle Level Mgt. Lower Level Mgt.

2. Analysis of question no.4:

Gender.

Male Female
No. of Employees 64 6
Total no. of employees 70 70
Percentage 91.4% 8.6%

In the fourth question, we have assessed about the no. of male and female
employees working in Bajaj Allianz General Insurance Ltd. The above
frequency table shows that the percentage of male employees, i.e. 91.4% is
10 times more than that of female employees which is only 8.6%. The above
configuration can be shown through following visual expression:-

8.6%

Male

Female

91.4%

3. Analysis of question no.5:

Academic Profile.

Under-Graduate Graduate Post-Graduate

No. of Employees 4 34 32
Total no. of employees 70 70 70
Percentage 5.7% 48.6% 45.7%

In the fifth question, the analysis which concerns my study relates to the
educational level of the employees working in the organization. The above
frequency distribution table show that majority of the employees are
Graduates (48.6%) and Post- graduates (45.7%) and only 4 of them, i.e.
5.7% being under the category of Under-graduate. This entire picture could
be depicted through the following pie-chart:-

5.7%

45.7% Under-Graduate

Graduate
48.6% Post-Graduate

4. Analysis of question no.6:

Financial profile/Pay-scale.

Up to B/w B/w Above

Rs.15,000 Rs.15,000 & Rs.30,000 & Rs.45,000
per month Rs.30,000 Rs.45,000 per month
 per month per month
No. of Employees 37 30 2 1
Total no. of 70 70 70 70
employees
Percentage 52.8% 42.9% 2.9% 1.4%

In this question, I have assessed the pay-scale of the employees working in

the organization and the results reveal that most of the employees 37(52.8%)
are earning up to Rs.15,000 per month while 30(42.9%) are earning between
Rs.15,000 and Rs.30,000 per month. The remaining 4.3% has been
configured between pay-scales of Rs.30,000 and Rs.45,000 and Rs.45,000
and above. The above configuration can be shown through following visual
expression:-

2.9% 1.40%

Up to Rs.15,000

B/w Rs.15,000 &

Rs.30,000 per month
42.9% 52.8% B/w Rs.30,000 &
Rs.45,000 per month
Above 45,000 per
month
Slice 5

5. Analysis of question no.7:

Years of association with the Organization.

Last 2 Yrs B/w 2 & 4 B/w 4 & 6 More than 6

Yrs Yrs Yrs
No. of Employees 69 1 0 0
 Total no. of 70 70 70 70
employees
Percentage 98.6% 1.4% 0% 0%

This database shows the no. of years of association of the employees with
Bajaj Allianz Ltd. And this database represents the indirect implications of
the fact that how does and till what extent is it important to be attached with
an organization, as it has its own bearings. We just have only one respondent
falling under the category of being associated with the org. between 2 and 4
years, whereas the rest 69 respondents have been associated for only 2 yrs.
Since this org. was established in the year 2005 in Patna, there are no
employees who have been associated for more than 4 yrs. The above
configuration can be shown through following visual expression:-

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%
Last 2 yrs B/w 2 & 4 yrs B/w 4 & 6 yrs More than 6 yrs

6. Analysis of question no.8:

Nature of Job.

Managerial Non- Advisory Concerned with Supervisors

managerial Planning,
coordinating &
monitoring
No. of Employees 18 13 5 28 6
Total no. of 70 70 70 70 70
employees
Percentage 25.7% 18.6% 7.1% 40% 8.6%
In this question, we have assessed the kind of job responsibilities handled by
the employees. The above data shows that 8(25.7%) and 13(18.6%) of the
respondents are involved in managerial and non-managerial activities
respectively. The highest percentage of my respondents, i.e. 40% are
concerned with planning, coordinating and monitoring and the balance
15.7% has been segregated amongst the advisors and supervisory levels. The
nature of job handled by the employees occupy a very important position as
far as organizational climatic conditions are concerned and this very
interpretation could be shown in the form of the following bar diagram:-

120.00%
100.00%
80.00%
60.00%
40.00%
20.00%
0.00%
Managerial Non-managerial Advisory Concerned w ith Supervisory
planning,
coordinating &
monitoring

7. Analysis of question no.10:

Coordination amongst team members.

Excellent Very Good Good Satisfactory Not up to the

mark
No. of Employees 8 51 10 1 0
Total no. of 70 70 70 70 70
employees
Percentage 11.5% 72.7% 14.3% 1.5% 0%

This database shows that majority of the respondents (72.7%) are happy and
are satisfied with their coordination with other employees. 8 respondents
said that the coordination amongst team members are excellent. This can be
depicted by the following visual expressions:-

1.5% 0% 11.5%
14.3%

Excellent
Very Good
Good
Satisfying
Not up to the mark

72.7%

8. Analysis of question no.11:

Job- Satisfaction Level.

Extremely Satisfying Not-satisfying Extremely

Satisfying Dissatisfying
No. of Employees 8 51 10 1
Total no. of 70 70 70 70
employees
Percentage 11.5% 72.7% 14.3% 1.5%

In this question, we have assessed the job satisfaction level of the employees
arising out of the job which they are performing. My responses in terms of
respondents falling under extremely satisfying levels amounts 36 (51.4%)
and satisfying level amounting to 34 (48.6%). This data shows that all the
respondents are satisfied with their jobs. The above configuration could be
depicted through the following visual expression:-

60.00%
50.00%

40.00%
30.00%

20.00%
10.00%

0.00%
Extremely Satisfying Not-satisfying Extremely
Satisfying Dissatisfying

9. Analysis of question no.14:

Rating the Organization.

Better Good as Scope for further Inferior to

others improvement others
No. of Employees 54 16 0 0
Total no. of 70 70 70 70
employees
Percentage 77.1% 22.9% 0% 0%

In question no. 14, we have assessed that how the respondents feel and rate
this organization and we get mostly biased answers. As no one wants to
complain about the organization they are working in, 54 out of 70
respondents said their organization is better than other organizations and 16
said it is as good as others. This is a very expected response and therefore no
one complaint about it or said it is inferior to others. This could be very
clearly depicted by the following Pie-chart:-

22.9%

Better

Good as others

Scope for further

improvement
Inferior to others

77.1%

CHAPTER-6
 FINDINGS OF THE
STUDY

Findings of the Study

The findings of the study generally relate to the major observations without
which my study is never complete. In this case, where my research work was
related to Organizational Climatic Conditions, the hypothesis has been taken
care of and the findings as given under would help in proving the same:

FINDINGS NO.1
The first major finding revolves around 98.6% of the respondents who have
been associated with this company for the last two yrs., although the fact
remains that this organization is about three years old in Patna. The
implication is that the total study has been governed in majority by these
98.6% who apparently are the best people to respond which regard to
Organizational Climatic Conditions. This is so because they are in the best
position to respond to the various questions and assessments which would be
taken care of in the other findings.

FINDINGS NO.2

The second major finding of mine pertains to assessing the kind of a job
which the respondents have been handling with regard to their association
which they have been holding with regard to the organization. The data
reflects that 18.6% of the respondents held a non-managerial profile where
the balance 81.4% of the respondents were conceived with managerial,
advisory, planning, coordination and monitoring of the Intra-Organizational
activities are definitely the ones which have a very close relationship with
the Intra-Organizational Climatic Conditions.

FINDINGS NO.3

Inter-Personnel relationship level in the organization, motivation,

environment of the organization and working condition have a strong effect
on the company. The feeling of working in a Multi-national Company also
acts as a motivating factor and it also grows the feeling of satisfaction in the
employees and customers.

FINDINGS NO.4

The fourth finding is concerned with assessing the overall job satisfaction
level of my respondents. The data reflects that 51.4% of my respondents are
extremely satisfied with their job conditions within the organization, where
the balance 48.6% respondents are happy with their job but not fully
satisfied because of some conditions and reasons only known to them which
have not been clarified in the study. The implied analysis shows that51.4%
of the respondents who are extremely satisfied with their work performance
refers to the situation which probably has no link with the changing climatic
scenario in terms of the fact that, Intra-Organizational Climatic Conditions
had no impact what so ever as far as creating job satisfying effect is
concerned.
FINDINGS NO.5

The fifth major finding is related to stress caused due to the job-profile of
the employees. The data reflects that the responses are in the ratio of 3:1.
75.7% of my respondents usually get stressed because of their job
responsibility. Most of the reasons of stress are due to the work environment
and pecuniary factors. The balance 24.3% respondents said that they are
quite comfortable with their job-profile and they do not generally feel
stressed out.
CHAPTER-7
 CONCLUSIONS &
RECOMMENDATIONS

CONCLUSION
While interviewing with different employees and customers of during my
Summer-Training Period, they gave me valuable suggestions to change
various things in Bajaj Allianz General Insurance Limited Company in order
to make it a more competent organization.

It is agreed that the employees in this organization are fully satisfied and
majority of them are happy working within the organization. Sometimes the
work load make them stressed but the infrastructure facilities are well
enough to help them out with their stress and working conditions.

It is through analysis of the details available and feedback of the employees

that one comes to the conclusion that there are certain factors like inter-
personnel relationships, working conditions, technological changes, policy
changes and other changes from outside the organization which leads to
change in the organization’s climatic conditions.

RECOMMENDATIONS
 Level of interaction between the
manager and the employees should
be brought at a better level.
 Management should get more concerned about the infrastructure
facilities and profit-making of the organization.

 Proper attention should be given to the problems of its customers

regarding claims and policies.

 Proper facilities at the workplace where there is not working condition

such as congested place to work, not proper silence at the working place.
Thus, facilities such as more ventilation should be provided.

BIBLIOGRAPHY
The list reference for the purpose of completing this summer training project
report is as given below:

S.NO. TITLE OF THE REFERENCE AUTHOR AND

MATERIAL OTHER DETAIL
1 Bajaj Allianz General Insurance Limited- Bajaj Allianz
Annual Report
2 Induction Booklet of Bajaj Allianz Bajaj Allianz
General Insurance

3 www.bajajallianz.com -
4 www.google.com -
5 www.allbusiness.com -
6 www.vininvestments.com -
 ANNEXURE

QUESTIONNAIRE
1. Name of the respondent: …………………………………………
2. Designation: ………………………………………....
3. Age: ……..........yrs.
4. Gender: Male Female
5. Academic Profile:
a) Under-Graduate
b) Graduate
 c) Post-Graduate

6. Financial Profile:
a) Earning up to Rs. 15,000 per month
b) Earning between Rs. 15,000 and Rs. 30,000 per month
c) Earning between Rs. 30,000 and Rs. 45,000 per month
d) Earning above Rs. 45,000 per month

7. Since how long have you been working in this organization?

a) For the last two years
b) Between two & four years
c) Between four & six years
d) More than six years

8. What kind of a job responsibility are you handling?

a) Managerial
b) Non-managerial
c) Advisory
d) Concerned with planning, coordinating
& monitoring
e) Supervisory
9. How do you find the behavior of your team members within the
working environment?
a) Superiors
b) Peers
c) Subordinates
Excellent Very Good Good Satisfactory Not up to the mark

10. How do you rate the coordination amongst the team members within
the organization?
 a) Excellent
b) Very Good
c) Good
d) Satisfactory
e) Not up to the mark

11. How do you find your job satisfaction level arising out of the job

which you are performing?

a) Extremely Satisfying
b) Satisfying
c) Not Satisfying
d) Extremely Dissatisfying

12. Do you normally get stressed because of your job-stress?

Yes
No
If yes, what are the causes of your job-stress?
a) Work environment
b) Colleagues
c) Pressure from superiors
d) Working ambience
e) Pecuniary factors
f) Fringe benefits

13. How do you tend to manage stress?

Please specify …………………………………………………………
………………………………………………………………………………
………………………………………………………………………………
 14. How do you rate your association with this company in comparison

to that of your colleagues/friends working with other similar

organizations?
a) My organization is better.
b) My organization is as good as others.
c) My organization has scope for further improvement.
d) My organization is inferior to others.

15. Where do you see yourself in terms of carrier growth in this

organization?
a) I have a bright future.
b) Chances of growth are minimum.
c) Chances of growth are bleak.
d) I see no future for myself.

16. On the whole, how do you rate Bajaj Allianz Ltd. As an organization
to work in?
a) This organization gives ample opportunities to youngsters/new-comers.
b) It is a good platform to learn work.
c) It is an organization which trains us to face challenges.
d) It is an organization where working is fun.
e) It is an organization where working is boredom.

17.If asked to recommended, would you recommend this organization to

others?
Yes
No
If no, why? ………………………………………………………………..…
………………………………………………………………………………..
Place-………………………….. ________________________
Date-…………………………... (Respondent’s Signature)