30+ Bharti AXA Life Insurance Interview Questions and Answers

The top 3 insurance companies in the Indian market are LIC, ICICI Prudential, and HDFC Life.

• Life Insurance Corporation of India (LIC) is the largest insurance company in India with a market share of over 70%

• ICICI Prudential is the largest private sector insurance company in India with a market share of around 13%

• HDFC Life is another leading private sector insurance company in India with a market share of around 8%

Yes, general insurance is different from traditional life insurance.

• General insurance covers non-life assets like property, vehicles, health, travel, etc.

• Traditional life insurance covers the life of the policyholder and provides financial support to their beneficiaries in case of death.

• General insurance policies have a shorter term and are renewable annually, while life insurance policies have a longer term and can be for the entire life of the policyholder.

• General insurance...read more

The purpose of eating food is to provide nourishment and energy to the body.

• Food provides essential nutrients and energy to the body

• Eating for taste is a secondary benefit

• Overeating can lead to health problems

• Eating a balanced diet is important for overall health

There are various life insurance products available in the market.

• Term life insurance

• Whole life insurance

• Universal life insurance

• Variable life insurance

• Indexed universal life insurance

• Final expense insurance

• Group life insurance

• Joint life insurance

IRDA stands for Insurance Regulatory and Development Authority of India.

• IRDA is a statutory body that regulates and promotes the insurance industry in India.

• It was established in 1999 under the IRDA Act.

• IRDA issues licenses to insurance companies and agents, and also sets guidelines for their functioning.

• It ensures that insurance companies comply with the regulations and protect the interests of policyholders.

• IRDA also promotes the development of the insurance sector in India...read more

Sales focuses on selling products or services, while marketing focuses on promoting and creating demand for those products or services.

• Sales involves direct interaction with customers to close deals.

• Marketing involves creating strategies to reach and engage potential customers.

• Sales focuses on short-term goals and revenue generation.

• Marketing focuses on long-term brand building and customer relationships.

• Sales is more transactional, while marketing is more strategic and holis...read more

Life insurance is a contract between an individual and an insurance company to provide financial protection to the beneficiaries upon the policyholder's death.

• Life insurance provides a lump sum payment to the beneficiaries upon the policyholder's death.

• The policyholder pays premiums to the insurance company in exchange for the coverage.

• There are different types of life insurance policies, such as term life, whole life, and universal life.

• Life insurance can also provide additi...read more

I am detail-oriented and can be overly critical at times, but I am also highly organized and efficient in my work.

• Negative: Can be overly critical of myself and others

• Positive: Highly organized and efficient in my work

• Negative: Sometimes struggle with delegating tasks

• Positive: Strong problem-solving skills

• Negative: Can be impatient with slow progress

• Positive: Excellent communication skills

I handle sales pressure by staying organized, prioritizing tasks, and maintaining a positive attitude.

• I break down tasks into manageable steps and set realistic goals

• I stay focused on the end goal and remind myself of the benefits of achieving it

• I maintain open communication with my team and seek support when needed

• I use data and analytics to inform my decisions and adjust my approach as needed

• I practice self-care and stress management techniques to stay balanced and avoid bu...read more

Marketing is creating awareness and interest in a product or service, while sales is the process of converting that interest into a purchase.

• Marketing focuses on creating demand, while sales focuses on fulfilling that demand.

• Marketing involves research, advertising, and branding, while sales involves prospecting, qualifying leads, and closing deals.

• Marketing is a long-term strategy, while sales is a short-term tactic.

• Marketing is about building relationships with customers, w...read more

Digital marketing in insurance companies can help increase brand awareness, reach a wider audience, generate leads, and improve customer engagement.

• Increased brand awareness through targeted online advertising

• Ability to reach a wider audience through social media platforms and search engine optimization

• Generation of leads through email marketing campaigns and online forms

• Improved customer engagement through personalized content and interactive tools

• Cost-effective compared to ...read more

I can do a significant amount of business based on my experience and network.

• I have a proven track record of generating revenue and building strong relationships with clients.

• My extensive network allows me to tap into new business opportunities and expand existing ones.

• I am confident in my ability to meet and exceed sales targets and contribute to the growth of the company.

• For example, in my previous role, I was able to increase sales by 30% within the first year of joining t...read more

My annual business target is to increase revenue by 15% and expand our customer base by 10%.

• Set specific, measurable targets for revenue growth and customer acquisition

• Develop strategies to increase sales and improve customer retention

• Monitor progress regularly and adjust tactics as needed

• Collaborate with team members to achieve targets

• Utilize data analytics to identify opportunities for growth

Our database is a cloud-based CRM system that allows us to track and manage customer interactions and relationships.

• Our database is cloud-based and accessible from anywhere with an internet connection.

• It is a CRM system that allows us to track and manage customer interactions and relationships.

• We can store customer information, communication history, and sales data in the database.

• The database also allows us to generate reports and analyze customer behavior.

• Examples of CRM sy...read more

The brand ambassador of Bharti AXA is Akshay Kumar.

• Akshay Kumar is a popular Bollywood actor known for his action and comedy roles.

• He has been associated with Bharti AXA for promoting their insurance products.

• Akshay Kumar's endorsement has helped increase brand visibility and trust among customers.

Sales and marketing are two closely related activities that focus on promoting and selling products or services to customers.

• Sales involves directly interacting with customers to persuade them to purchase a product or service.

• Marketing involves creating strategies to attract potential customers and promote brand awareness.

• Sales is more focused on closing deals and generating revenue, while marketing is about creating demand and building relationships.

• Examples: Sales represent...read more

The full form of PF is Provident Fund.

• PF stands for Provident Fund, which is a retirement savings scheme in India.

• It is a mandatory contribution by both the employee and employer towards the employee's retirement fund.

• The amount accumulated in the PF account can be withdrawn at the time of retirement or resignation.

• PF contributions are deducted from the employee's salary on a monthly basis.

• Employers also contribute to the PF account on behalf of the employee.

My expected CTC is based on my experience, skills, and industry standards.

• I have researched the industry standards for IT Project Managers with my level of experience.

• I am open to negotiation based on the specific responsibilities and benefits offered.

• My previous salary was in the range of X to Y, but I am looking for growth opportunities.

• I am more interested in the overall package, including benefits and work-life balance, than just the salary.

Insurance is a financial product that provides protection against specific risks in exchange for payment of a premium.

• Insurance is a contract between an individual or organization (the policyholder) and an insurance company.

• The policyholder pays a premium to the insurance company in exchange for coverage against specific risks, such as property damage, illness, or death.

• Insurance helps individuals and businesses manage risk by providing financial protection in case of unexpec...read more

Maturity in insurance refers to the level of experience, stability, and sound decision-making within the industry.

• Maturity in insurance is reflected in the ability of insurance companies to accurately assess risks and set appropriate premiums.

• It also involves the development of long-term relationships with policyholders and the ability to adapt to changing market conditions.

• Mature insurance companies often have a strong financial position and a solid reputation within the ind...read more

I support Branch development by providing training, resources, and guidance to the team.

• Offering regular training sessions to improve skills and knowledge

• Providing access to resources such as marketing materials and customer data

• Offering guidance and support to team members to help them achieve their goals

• Encouraging collaboration and communication among team members

• Monitoring performance and providing feedback to help team members improve

Insurance is a financial product that provides protection against financial losses.

• Insurance is a contract between an individual or organization and an insurance company.

• It involves the payment of a premium in exchange for the insurance company's promise to cover specific financial losses.

• Types of insurance include life insurance, health insurance, auto insurance, and property insurance.

• Insurance helps individuals and businesses manage risk and protect against unexpected even...read more

A policy holder is an individual or entity that owns an insurance policy.

• Policy holder is the owner of an insurance policy

• They pay premiums to the insurance company

• They are entitled to receive benefits as per the terms of the policy

• Policy holder can be an individual or an organization

• Examples of policy holders include individuals with life insurance policies, businesses with liability insurance policies, etc.

Insurance and sales are both dynamic industries that offer opportunities for growth and challenge.

• Insurance industry provides stability and long-term growth potential

• Sales allows for building relationships and meeting targets

• Combining insurance and sales skills can lead to success in a competitive market

Extensive knowledge in various types of insurance including life, health, auto, home, and commercial insurance.

• Understanding of different insurance policies and coverage options

• Ability to explain insurance terms and concepts to clients

• Experience in underwriting and claims processing

• Knowledge of insurance regulations and compliance requirements

• Strong negotiation skills to secure competitive rates for clients

Types of insurance include health, life, auto, home, and disability.

• Health insurance covers medical expenses

• Life insurance provides financial protection to beneficiaries

• Auto insurance covers damages and injuries in car accidents

• Home insurance protects against damage to property

• Disability insurance provides income if unable to work due to disability

Insurance is a contract between an individual and an insurance company to protect against financial loss.

• Insurance provides financial protection against unexpected events

• Premiums are paid to the insurance company in exchange for coverage

• Types of insurance include health, auto, home, and life insurance

• Insurance policies have terms and conditions that must be followed to receive benefits

• Insurance helps individuals and businesses manage risk

Air exchange in AC system is the process of replacing stale indoor air with fresh outdoor air.

• Air exchange helps maintain indoor air quality and prevent the buildup of pollutants.

• AC systems can use mechanical ventilation or natural ventilation for air exchange.

• Proper air exchange rates depend on factors such as building occupancy and outdoor air quality.

• Examples of pollutants that can be removed through air exchange include carbon dioxide, volatile organic compounds, and part...read more