Max New York Life Insurance Company Ltd. is a joint venture between Max India Limited.

, one of India's
leading multi-business corporations and New York Life International[13], the international arm of New
York Life, a Fortune 100 company . The company has positioned itself on the quality platform.

Max New York Life offers a suite of flexible products. It now has 25 individual life and health insurance
products and 8 riders enabling customers to choose the policy that best fits their need. Besides this, the
company offers 6 products and 7 riders in group insurance business

Max New York Life has multi-channel distribution spread across the country. Agency distribution is the
primary channel complemented by partnership distribution, banc assurance, alliance marketing and
dedicated distribution for emerging markets. The Company places a lot of emphasis on its selection
process for agent advisors, which comprises four stages - screening, psychometric test, career seminar
and final interview. The agent advisors are trained in-house to ensure optimal control on quality of
training. The company currently has more than 71,000 agent advisors at 676 offices across 389 cities.
The company also has 50 tie-ups with banks, 30 partnership distribution relationships Max New York Life
has put in place a unique hub and spoke model of distribution to deepen our rural penetration. This is
the first time such a model has been put in place for rural marketing of insurance. The company has 139
offices dedicated to rural areas.
HISTORY OF THE COMPAMY

The company was founded in 1845 as the Nautilus Insurance Company in New York City, with
assets of just $17,000. It was renamed the New York Life Insurance Company in 1849. Its first
headquarters were at 112-114 Broadway; the first president was James DePeyster Ogden. The
current New York Life headquarters was designed by noted architect Cass Gilbert and completed
in 1928. The New York Life building, at 51 Madison Avenue, was constructed during the
presidency of Darwin P. Kingsley. He expanded the company’s operations and developed new
types of insurance. As with other early insurance companies in the U.S., in its early years the
company insured the lives of slaves for their owners. In response to bills passed in California in
2001 and in Illinois in 2003, the company reported that Nautilus sold 485 slaveholder life
insurance policies during a two-year period in the 1840s; they added that their trustees voted to
end the sale of such policies 15 years before the Emancipation Proclamation.[6]

The company became known for innovative business practices. In 1860, well before state laws
required it, New York Life developed the non-forfeiture option, the predecessor to the
guaranteed cash values of modern policies, under which a policy remains in force even if a
premium payment is missed. It was also the first American life insurance company to pay a cash
dividend to policyholders, and the first U.S. company to issue policies to women at the same
rates as men. Susan B. Anthony was one of their first female policy holders, and her father
worked for NYLIC.[7] In 1896, New York Life became the first company to insure people with
disabilities and the first to issue a policy with a disability benefit that presumes total disability to
be permanent after a predetermined period.

In the late 1990s New York Life was one of several large mutual life insurers to back a bill that
would allow demutualization into a structure known as a mutual holding company (MHC). CEO
Sy Sternberg himself argued strongly in favor of the bill,[8] which was ultimately defeated. The
NYLIC board of directors subsequently reversed course, with the company strongly and publicly
embracing their mutual nature in a series of advertisements.
Part – 2
 Introduction
 Objectives & scope
 Research Methodology
 Data Analysis
 Conclusions
 Limitations
 Recommendations and Observations
Introduction
A performance appraisal, employee appraisal, performance review, or (career)
development discussion[1] is a method by which the job performance of an employee is
evaluated (generally in terms of quality, quantity, cost, and time) typically by the corresponding
manager or supervisor[2]. A performance appraisal is a part of guiding and managing career
development. It is the process of obtaining, analyzing, and recording information about the
relative worth of an employee to the organization. Performance appraisal is an analysis of an
employee's recent successes and failures, personal strengths and weaknesses, and suitability for
promotion or further training. It is also the judgement of an employee's performance in a job
based on considerations other than productivity alone.

[[Definition]] Performance appraisal is a method of evaluating the behaviour of employees in

the workspot,normally including both and quantitative and qualitative aspects of job
performance.it is a systematic and objective way of evaluating both work-related behaviour and
potential of employees.it is a process that involves determining and communicating to an
employee how the job and ideally,establishing a plant of improvement.2

Generally, the aims of a performance appraisal are to:

 Give employees feedback on performance

 Identify employee training needs
 Document criteria used to allocate organizational rewards
 Form a basis for personnel decisions: salary increases, promotions, disciplinary actions,
bonuses, etc.
 Provide the opportunity for organizational diagnosis and development
 Facilitate communication between employee and administration
 Validate selection techniques and human resource policies to meet federal Equal
Employment Opportunity requirements.
 To improve performance through counselling, coaching and development.
OBJECTIVE AND SCOPE
Research methodology