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TRAINING AND DEVELOPMENT

IN

Internship Report

PGPM

2009-2011

Guided by: Submitted by:

Miss Bhavna jain Umang Badjatya

(Faculty) PGPM

Batch: 2009-2011

Cerebral Business School, Kota

Umang Badjatya, (2009-11), I.D: 101003129 1

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CERTIFICATE

This is to certify that Internship Report entitled Training and

Development in ING Vysya Life Insurance has been submitted by

UMANG BADJATYA under the guidance of Miss. Bhavana Jain as a

partial fulfillment of the Postgraduate Program in Management degree from

Cerebral Business School.

Director,

Kafil Siddiqui

Cerebral Business School,

PGPM

Batch: 2009-011


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FOREWORD

Training is an exercise by means of which student earn a lot of things which

cannot be taught in the class room. During training students come to know

about the principles and practices of management application in real working

condition in the organization.

The project undertaken by Umang Badjatya in ING Vysya Life InsuranceCompany Ltd, Kota, Titled Training & Development in ING Life Insurance

Co. Ltd.

The project on evaluation fulfills all the stated criteria and the students

achievements and findings are her original work. During the training period,

I have found her to be hardworking, sincere and punctual. She was also

found to diligent, corporative and well disciplined.

Pawan Sharma Umang Badjatya

Branch Manager

ING Vysya Life Insurance Co. Ltd.

Kota


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DECLARATION

I hereby declare that the present report entitled Training & Development

in ING Vysya Life Insurance Company, Kota is based on my original

work / publication has been duly acknowledged at relevant places.

Submitted by

Umang badjatya

PGPM 1stsem


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PREFACE

Post Graduation program in Management (PGPM) is a certificate/diploma

course in professional studies which includes both theoretical and practical

knowledge as part of 2 year curriculum.

This course includes both theory of application part of the two required to

undergo practical training. Training is an exercise by means of which student

earn a lot of things which cannot be taught in the class room. During training

students come to know about the principles and practices of management

application in real working condition in the organization.

The project study at Training & Development in ING Vysya Life

Insurence was carried quite in on of the concern of ING Vysya through

me. The project report is consists of description of the concept of

recruitment, its procedure, its sources, objectives etc. In this project we also

apply research methodology. The interpretation & analysis of the questioners

gives the final result & conclusion.


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ACKNOWLEDGEMENT

I sincerely express my profound gratitude towards Mr. Pawan Sharma(area

manager),Mr. Amit Dalela(Sales Manager) and Mr. Anil Khandelwal(Training

Manager) ING Vysya Life Insurance,Kota for giving me an opportunity to join

this esteem organization for 30 days of training.

I must also thank them for giving me this assignment and for providing me all

the support, necessary facilities as well as valuable suggestions and guidance

towards the successful completion of this project work, without whose help

this project would have not seen the light of the day.

My training in ING Vysya Life Insurance ,KOTA, of duration 30 days has been

quite successful. During my stay for 30 days, I had received full co-operation

from employees and officers of the organisation. The practical visualization of

the summer training has helped me to understand a lot of practical things.In order

to acquire myself to the task of the organization and to analyze them, I met staff

who helped me by their kind co-operation and guidance.

I deem it a pleasure to express my reverence to CEREBRAL BUSINESS

SCHOOL for sparing the much needed time required for the successful

completion of this project work.


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It is both my pleasure and a duty to acknowledge with all humility, my grateful

thanks and indebtedness to the various employees at ING Vysya LifeInsurance Company Pvt. Ltd. From whose distinguished works, I learnt so

much, whose ideas and valuable suggestions and contributions in their field

have been so helpful to me in the preparation of this project work.

Umang Badjatya


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ABSTRACT

This Report is an attempt to provide a detailed analysis of the process of

training program done by ING Vysya life insurence and benefits of the

training.

In my complete student internship program I met more than 30 employees.

During this student internship program I came to know that, knowledge

based economy, training helps people to learn how to do things differently or

to do different things.

However, my survey suggests that maximum number of employees, in the

turbulent, fast changing world, effective training has never been more

important. Products are now increasingly knowledge intensive; for this,

employers are responsible for providing opportunities for continued learning.

In my survey I found that 60% of employees are new to the job and they

must undergo the training program.

Finally, creating awareness of organization structure and its products to the

employee is very important to have individual as well as organization

growth. So it can be possible only when the employees go through the

training program.


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CONTENTS

CERTIFICATES

FOREWORD

DECLARATION

PREFACE

ACKNOWLEDGEMENT

ABSTRACT

Page No.

CHAPTER I - COMPANY PROFILE 10-27

CHAPTER II - CONCEPTUAL FRAMEWORK 28-35

CHAPTER III - RESEARCH METHODOLOGY 36-40

CHAPTER IV - FACTS & FINDINGS 41-48

CHAPTER V - CONCLUSION 49-50

CHAPTER VI - SUGGESTIONS 51-52

APPENDICES 53-56

BIBLOGRAPHY 57


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Chapter 1

COMPANY PROFILE


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Brief History of Insurance Sector in India

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 crore

from the Government of India.


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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.

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 code of conduct for ensuring fair conduct and sound business

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.

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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Indian Insurance Industry:

Learn About Insurance may be described as a social device to reduce or

eliminate risk of life and property. Under the plan of insurance, a large

number of people associate themselves by sharing risk, attached to

individual.

The risk, which can be insured against include fire, the peril of sea, death,

incident, & burglary. Any risk contingent upon these may be insured against

at a premium commensurate with the risk involved.

Insurance is actually a contract between 2 parties whereby one party called

insurer undertakes in exchange for a fixed sum called premium to pay the

other party happening of a certain event.

Insurance is a contract whereby, in return for the payment of premium by the

insured, the insurers pay the financial losses suffered by the insured as a

result of the occurrence of unforeseen events.

With the help of Insurance, large number of people exposed to a similar risk

make contributions to a common fund out of which the losses suffered by the

unfortunate few, due to accidental events, are made good.


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Functions of Insurance

The functions of Insurance can be bifurcated into two parts:

Primary Functions

Secondary Functions

Other Functions

The primary functions of insurance include the following:

Provide Protection - The primary function of insurance is to provide

protection against future risk, accidents and uncertainty. Insurance cannot

check the happening of the risk, but can certainly provide for the losses of

risk. Insurance is actually a protection against economic loss, by sharing the

risk with others.

Collective bearing of risk - Insurance is a device to share the financial loss of

few among many others. Insurance is a mean by which few losses are shared

among larger number of people. All the insured contribute the premiums

towards a fund and out of which the persons exposed to a particular risk is

paid.


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Assessment of risk - Insurance determines the probable volume of risk byevaluating various factors that give rise to risk. Risk is the basis for

determining the premium rate also

Provide Certainty - Insurance is a device, which helps to change from

uncertainty to certainty. Insurance is device whereby the uncertain risks may

be made more certain.

The secondary functions of insurance include the following:

Prevention of Losses - Insurance cautions individuals and businessmen to

adopt suitable device to prevent unfortunate consequences of risk by

observing safety instructions; installation of automatic sparkler or alarm

systems, etc. Prevention of losses cause lesser payment to the assured by the

insurer and this will encourage for more savings by way of premium.

Reduced rate of premiums stimulate for more business and better protection

to the insured.

Small capital to cover larger risks - Insurance relieves the businessmen from

security investments, by paying small amount of premium against larger

risks and uncertainty.


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Contributes towards the development of larger industries - Insurance

provides development opportunity to those larger industries having morerisks in their setting up. Even the financial institutions may be prepared to

give credit to sick industrial units which have insured their assets including

plant and machinery.

The other functions of insurance include the following:

Means of savings and investment - Insurance serves as savings and

investment, insurance is a compulsory way of savings and it restricts the

unnecessary expenses by the insured's For the purpose of availing income-

tax exemptions also, people invest in insurance.

Source of earning foreign exchange - Insurance is an international business.

The country can earn foreign exchange by way of issue of marine insurance

policies and various other ways.

Risk Free trade - Insurance promotes exports insurance, which makes the

foreign trade risk free with the help of different types of policies under

marine insurance cover.

The end of the year 2000 marks a significant change and growth of 'India

Insurance' industry scenario. Monopoly of Public Sector Insurance company

marks an end and Private companies makes inroad. Foreign companies, both

Life and General flocked, collaborated and helped astronomical growth of

'Insurance Industry in India'.


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'India Insurance' growth was long overdue. Within 1st 12 months of

liberation of 'Indian Insurance Industry' 10 licenses for selling life insuranceproducts and 6 licenses for selling non-life products were issued to private

companies. The Public sector giant LIC started losing its market share at the

cost of stupendous growth of private players. Now 'India Insurance' industry

has more than a dozen private life insurance players and 9 private general

insurance companies. Aggressive and penetrative marketing strategy coupled

with wide product bandwidth was an instant success among the ignorant

masses. Most of the private companies registered more than 100% growth till

then and are still continuing with such monstrous growth figures. Although,

'Insurance in India' is not regarded as a basic need but it is getting popular

among semi urban to rural masses. Top rank private companies like ICICI

Prudential Life Insurance, Tata AIG, Bajaj Allianz etc are aggressively

researching and innovating products for huge untapped rural 'India Insurance'

market. Collaboration with micro finance companies, post offices, rural

banks and village management authorities for selling insurance is doing

wonders.

Life insurance products covers risk for the insurer against eventualities like

death or disability. Non-life insurance products covers risks against natural

calamities, burglary, etc. They are not as popular as life products in the '

Insurance India's' portfolio. Until very recently it had only corporate buyers,

but with natural disasters like, earth quakes, tsunamis, storms and floods


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becoming more frequent and damaging there has been a sudden spurt in sales

of general insurance amongst individuals. Consumerism of life style goodsand modern amenities has also contributed to its growth. With more

awareness and wide bandwidth of insurance product portfolio the growth for

'India Insurance' story will only get more competitive and more affordable to

all sections of Indian society.

Present Scenario

The Government of India liberalized the insurance sector in March 2000

with the passage of the Insurance Regulatory and Development Authority

(IRDA) Bill, lifting all entry restrictions for private players and allowing

foreign players to enter the market with some limits on direct foreign

ownership. Under the current guidelines, there is a 26 percent equity cap for

foreign partners in an insurance company. There is a proposal to increase this

limit to 49 percent.

The opening up of the sector is likely to lead to greater spread and deepening

of insurance in India and this may also include restructuring and revitalizing

of the public sector companies. In the private sector 12 life insurance and 8

general insurance companies have been registered. A host of private

Insurance companies operating in both life and non-life segments have

started selling their insurance policies since 2001.


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Non-Life Insurance Market

In December 2000, the GIC subsidiaries were restructured as independent

insurance companies. At the same time, GIC was converted into a national

re-insurer. In July 2002, Parliamant passed a bill, delinking the four

subsidiaries from GIC.

Presently there are 12 general insurance companies with 4 public sector

companies and 8 private insurers. Although the public sector companies still

dominate the general insurance business, the private players are slowly

gaining a foothold. According to estimates, private insurance companies

have a 10 percent share of the market, up from 4 percent in 2001. In the first

half of 2002, the private companies booked premiums worth Rs 6.34 billion.

Most of the new entrants reported losses in the first year of their operation in

2001.

With a large capital outlay and long gestation periods, infrastructure projects

are fraught with a multitude of risks throughout the development,construction and operation stages. These include risks associated with project

implementation, including geological risks, maintenance, commercial and

political risks. Without covering these risks the financial institutions are not

willing to commit funds to the sector, especially because the financing of

most private projects is on a limited or non- recourse basis.


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Insurance companies not only provide risk cover to infrastructure projects,

they also contribute long-term funds. In fact, insurance companies are anideal source of long term debt and equity for infrastructure projects. With

long term liability, they get a good asset- liability match by investing their

funds in such projects. IRDA regulations require insurance companies to

invest not less than 15 percent of their funds in infrastructure and social

sectors. International Insurance companies also invest their funds in such

projects.

Insurance costs constitute roughly around 1.2- 2 percent of the total project

costs. Under the existing norms, insurance premium payments are treated as

part of the fixed costs. Consequently they are treated as pass-through costs

for tariff calculations.

Insurance, like project finance, is extended by a consortium. Normally one

insurer takes the lead, shouldering about 40-50 per cent of the risk and

receiving a proportionate percentage of the premium. The other companies

share the remaining risk and premium. The policies are renewed usually on

an annual basis through the invitation of bids.

Of late, with IPP projects fizzling out, the insurance companies are turning

once again to old hands such as NTPC, NHPC and BSES for business.


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Re-insurance business

Insurance companies retain only a part of the risk (less than 10 per cent)

assumed by them, which can be safely borne from their own funds. The

balance risk is re-insured with other insurers. In effect, therefore, re-

insurance is insurer's insurance. It forms the backbone of the insurance

business. It helps to provide a better spread of risk in the international

market, allows primary insurers to accept risks beyond their capacity, settle

accumulated losses arising from catastrophic events and still maintain their

financial stability.

While GIC's subsidiaries look after general insurance, GIC itself has been the

major reinsurer. Currently, all insurance companies have to give 20 per cent

of their reinsurance business to GIC. The aim is to ensure that GIC's role as

the national reinsurer remains unhindered. However, GIC reinsures the

amount further with international companies such as Swissre (Switzerland),

Munichre (Germany), and Royale (UK). Reinsurance premiums have seen an

exorbitant increase in recent years, following the rise in threat perceptionsglobally.


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Life Insurance Market

The Life Insurance market in India is an underdeveloped market that was

only tapped by the state owned LIC till the entry of private insurers. The

penetration of life insurance products was 19 percent of the total 400 million

of the insurable population. The state owned LIC sold insurance as a tax

instrument, not as a product giving protection. Most customers were under-

insured with no flexibility or transparency in the products. With the entry of

the private insurers the rules of the game have changed.

The 12 private insurers in the life insurance market have already grabbed

nearly 9 percent of the market in terms of premium income. The new

business premiums of the 12 private players has tripled to Rs 1000 crore in

2002- 03 over last year. Meanwhile, state owned LIC's new premium

business has fallen.

Innovative products, smart marketing and aggressive distribution. That's the

triple whammy combination that has enabled fledgling private insurancecompanies to sign up Indian customers faster than anyone ever expected.

Indians, who have always seen life insurance as a tax saving device, are now

suddenly turning to the private sector and snapping up the new innovative

products on offer.


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The growing popularity of the private insurers shows in other ways. They are

coining money in new niches that they have introduced. The state ownedcompanies still dominate segments like endowments and money back

policies. But in the annuity or pension products business, the private insurers

have already wrested over 33 percent of the market. And in the popular unit-

linked insurance schemes they have a virtual monopoly, with over 90 percent

of the customers.

The private insurers also seem to be scoring big in other ways- they are

persuading people to take out bigger policies. For instance, the average size

of a life insurance policy before privatization was around Rs 50,000. That

has risen to about Rs 80,000. But the private insurers are ahead in this game

and the average size of their policies is around Rs 1.1 lakh to Rs 1.2 lakh-

way bigger than the industry average.

Buoyed by their quicker than expected success, nearly all private insurers are

fast- forwarding the second phase of their expansion plans. No doubt the

aggressive stance of private insurers is already paying rich dividends. But a

rejuvenated LIC is also trying to fight back to woo new customers.

The Insurance sector in India governed by Insurance Act, 1938, the Life

Insurance Corporation Act, 1956 and General Insurance Business

(Nationalisation) Act, 1972, Insurance Regulatory and Development

Authority (IRDA) Act, 1999 and other related Acts.


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COMPANY PROFILE

ING Vysya Life Insurence :

Introduction:

ING is a professionally managed organization with a board of directors

consisting of eminent persons who represent various fields including finance,

taxation, construction and urban policy & development. The board primarily

focuses on strategy formulation, policy and control, designed to increasing

value to shareholders.

ING is a global financial institution of Dutch origin offering banking, insurance

and asset management to over 85 million private, corporate and institutional

clients in over 40 countries. With a diverse workforce of approximately

125,000 people, ING is dedicated to setting the standard in helping our

clients manage their financial future

About ING:

ING Vysya Life Insurance (ING Life), a part of the ING Group the worlds

largest financial services corporation entered the private life insurance industry in

India in September 2001. Headquartered at Bangalore, ING Life India is

staffed by over 6,000 employees and services more than 8 lakhs customers.

ING Life India is a joint venture between ING Group (ING Insurance

International B.V.), Exide Industries, Ambuja Cements Limited and EnamGroup.


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ING Life has a pan India network, and distributes its products through two

channels, the Tied Agency Force and the Alternate Channel. The Tied

Agency force comprises of over 60,000 ING Life Advisors, spread across the

country. The channel has branches in 234 cities, and 366 sales teams across the

country. The Alternate Channels business within ING Life is one of the fastest

growing distribution channels. The company currently has tie ups with

over 200 cooperative bank across the country. The Alternate Channels division

has Bancassurance (ING Vysya Bank), Referral Banks, Corporate Agents,

Brokers and SMINCE.

About ING in India

ING operates through three businesses in India, ING Vysya Life Insurance,

ING Vysya Bank and ING Investment Management. ING Vysya Bank is a

premier private sector bank with over 76-year heritage and 1.5 million satisfied

customers. ING Investment Management believes in providing investors with theknowledge & opportunity to manage their future easily.

Mission , Values and Personality:

Our mission

At ING Life, our mission is To set the standard in helping our customersmanage their financial future.

Our business is driven on our values of Optimism, Knowledgeable,

Trustworthy and Transparent.

Optimism : We bear an approach of Optimism towards our company,

towards each other, in our products and in our care for our customersinterests.


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Knowledgeable : We cultivate the knowledgeable value through our

robust way of working, sharing and actively communicating.

Trustworthy: We deliver trustworthiness by doing the right things in right

way, by delivering an easier customer experience and by being a socially

responsible corporate.

Transparent : Our value of transparent drives our actions, reflects in our

products and services.

Values and personality

Our values are personified by our people through a set of Personality aspects.

These personality aspects are: Positive, Professional, Accountable and

Transparent.

Positive : ING Life India employees live its value of optimism by

bearing a positive and can-do attitude to their work.

Professional : At ING Life India, we expect the highest standard of

professional behavior by providing professional advice to customers, by

treating customers equitably, abide by companys culture and act with

compliance.

Accountable : ING Life India expects employees to be accountable for their

actions, words and decisions such that it builds their personal integrity

and fosters ING Life Indias value of trustworthiness.

Straightforward : ING Life India expects employees to be straight

forward in their conduct and work while dealing with customers and

colleagues.


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Brand Positioning

The Brand Essence of ING Life is, Experience the joy of fulfilling your

responsibility. This essence is captured in the unique brand positioning Mera

Farz, developed in 2007. This positioning means, ING Life helps its customers

fulfill their responsibilities as provider towards themselves and their families.

As part of the ING Group, the worlds largest financial services company, ING

Life provides its customers with the strength, reliability and the right balance

between long-term savings, security & reasonable returns.

This powerful positioning has helped ING Life create a distinct identity for itself.

The latest brand campaign in 2008 portrays how key life-stages in our lives, such

as marriage, birth of a child, childrens education, retirement, bring unexpected

financial worries along with happiness. However, we can overcome these

burdens with prudent financial planning and a helping hand from ING Life, thus

fulfilling our responsibilities towards our family.


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CHAPTER II

CONCEPTUAL FRAMEWORK


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Training is expensive.

But without training it is more expensive

NEED of the Project

The main objective of doing this project is to study employee attitude

regarding the training program and the benefits of the training program.

During this student internship program period I have to achieve some thing

which is helpful to the development of myself and some value addition to thecompany. Getting more business to the company because of training

program is the main objective. It gives me good exposure of myself and

creating good impression of corporate mind.

The main objective of this study is to know the employee opinion

regarding the training program.

To find out what is the training needs in concern area.

To find out the benefits of the training program to the employee and to

the organization.

To find out what is the result for the organization because of giving the

training to the employee.


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WHY IS TRAINING IMPORTANT?

No one is a perfect fit at the time of hiring and some training &

development must take place.

Planned development programs will return values to the organization in

terms of :

Increased productivity

Reduced costs

Morale

Flexibility to adapt to changing requirements

Definition of Training:

The systematic development of the knowledge, skills and attitudes required

by an individual to perform adequately a given task or job. Training refers to

efforts that help enhance employee skills for carrying out the present job.

According to Edwin B Flippo, training is the act of increasing knowledge

and skills of an employee for doing a particular job.

Needs for training:

To improve the current job performance of employees

To familiarize employees with the policies and procedures of the

organization.


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To enhance the creativity, adaptability and versatility of the employees

and to facilitate learning at the work place

To prepare employees for future job.

To change the skills, knowledge and attitudes of the employees on a

permanent basis.

To help employees manage their careers.

To maintain knowledgeable work force. To gain competitive advantage through a knowledgeable work force.

To promote organizational growth through individual growth.

Areas of training:

Company policies and procedures

Human relations training

Skill based training

Problem solving training

Onsite Workshops for Leadership Team

Employees need more than bosses... They need mentors: Professionals

skilled at assessing employee development needs and committed to guiding

employees toward professional success.


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Team Leadership Workshop provides managers with

proven techniques for effective personnel management. By helping leaders

understand and address

their employees' requirements, this interactive seminar offers significant

benefit to managers at all levels. New supervisors gain a solid grounding in

the concept of ''leadership,'' while more experienced managers refresh their

commitment to teaching and coaching their team members.

This training program provides healthy perspectives for managers at all

levels, making it an ideal morale-boosting leadership development

experience for mixed groups of front-line supervisors and senior staff

members.

Leadership Training for Success

All managers need methods. Leaders need to know the most effective

techniques for guiding teams, mentoring individuals, and validating the

results. Without solid methods, managers will revert use a one-size-fits-all

approach to leadership that reflects the leader's personality, rather than the

employees' needs.

Committed, mentoring leadership is essential to employee morale,

productivity, and retention.

A Results-Oriented Training Program


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Team Leadership Workshop provides proven methods and

procedures for successful people management. Participants receive a step-

by-step plan for guiding each employee toward success.

This workshop includes elements of Frank Whyte's nationally respected

Team Building Workshops expanding upon that foundation to help leaders:


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Recognize each employee's personality preferences and supervisory

needs,

Align their leadership style with those of their bosses, colleagues, and

subordinates,

Develop competent and committed employees by mentoring and guiding

their employees toward success.

Schedule their management responsibilities to ensure that nothing is left

to chance, and

Use practiced, real-world scenarios to resolve challenges and remove

barriers.

Training Program done by

ING VYSYA LIFE INSURANCE

Training is must for every individual when he enters into the organization.

Even though the candidate has experience he also should get training. Why

because the organization culture, values and beliefs are different from one

organization to other. Thats why the training program plays a key role in

every organization.

Training program following by ING Vysya Life Insurance is different at

various levels.

Mainly in training program the company concentrates on sales managers,

agents, operations executives and telecallers.


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Training program for sales managers:

The training program duration is 15 20 days

They get training on product knowledge.

Motivating and encouraging Advisors

Training program for Advisors:

The training program duration is 15 20 days

They get training on product knowledge

How to convince the people.

Objection Handling

Training program for operations executives:

They will get training on customer database files

Taking care of the customer files

Well trained in product information and documentation

Renewals will be informed periodically.


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Required skills for employees in ING VYSYA Life Insurance:

Interpersonal skills

Excellent communication skills

Understanding nature

Aggressiveness

Convincing skills Ability to motivate others

Interest to learn


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CHAPTER III

RESEARCH

METHODOLOGY


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RESEARCH & METHODOLOGY:

The Research and Methodology adopted for the present study has been

systematic and was done in accordance to the objectives set which has been

detailed as below.

Research Definition

Research is a process in which the researcher wishers to find out the end

result for a given problem and thus the solution helps in future course of

action.

According to Redman & Mory research is defined as a Systemized effort to

gain new knowledge.

Research Design:

According to Claire Seltiz, a research design is the arrangement of

condition and analysis of data in manner that aims to combine relevance to

the research purpose with economy in procedure.


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Nature of Research:

Research is basically of two types.1. Descriptive research

2. Explorative research

1. Descriptive Research: These studies are concerned with describing the

characteristic of a particular individual or a group.

Determining sources of Data:

There are two main sources of data

1. Primary data

2. Secondary data

Primary Data: It consists of original information collected for specific

research. Primary data for this research study was collected through a direct

survey to obtain this primary data a well structured questionnaire was

prepared by the researcher.

Secondary Data: It consists of information that already exists somewhere and

has been collected for some specific purpose in the study. Secondary data is

the data, which already exists in the printed form of material easily

accessible.Secondary data was colleted by the material supplied by the

company in the form of brochures, pamphlets, magazines and Internet.


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Questionnaire: A set of questions containing a few Technical questions and

more number of Opinionated questions are prepared for the employees ofboth Centralized and Decentralized sections of HR Department.

Sample Size: Total sample size is 50

Questionnaire Development:

Questionnaire is the most common instrument in collecting primary data. In

order to gather primary data from viewers.

The present questionnaire consists of following type of questions.

Open ended questions

Closed ended questions

Dichotomous questions

Multiple choice questions

Ranking question.

Open ended questions: It has no fixed alternatives to which the answer must

conform. Thus, respondent answer in his/her own words at any length they

choose.


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Closed ended questions: Closed ended questions have no other options

other than the selecting the one that close matches the respondents opinionor attitude.

Dichotomous questions: A dichotomous questions refers to one, which

offers the respondents a choice between only two alternatives.

Multiple Questions: A multiple choice question refers to one, which

provides several sets of alternatives for the respondents choice.

Ranking questions: These questions are given when there are many points

to be considered and to be ranked in priority.


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CHAPTER IV

DATA ANALYSIS

&

INTERPRETATION


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ANALYSIS & FINDINGS

Analysis of office staff who are having sufficient Knowledge on life

Insurance .

PROFESSIONNo.of Persons

New Advisors8

Advisors 54

Telecallers 12

Marketing Executives 26

Diagram of the table:


0

10

20

30

40

50

60

8

54

12

26

Having Sufficient Product Knowledge oInsurance

New Advisors

Advisors

Telecallers

Marketing

Executives

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Analysis of the table:

The above chart showing that advisors only have more knowledge than

telecallers, marketing executives and new advisors. Advisors will complete

the deals. But after that every thing will take care by operations executives

and telecallers. With out sufficient knowledge these both people cant work

well. When the telecaller is calling to customer for renewal premium that

person should have a knowledge how the premium should calculate, and they

should know any extra charges for late payment, and how much grace period

will be these things should know even telecallers and operations

executives too.


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PRIMARY DATA

ON BASES OF QUESTIONNAIRE

Q.1 What is your opinion on training?

Opinion On Training

Good

Very Good

Bad

Time Waste Process

57% employees found training in ING Vysya good

40% employees found training in ING Vysya Very Good

3% employees found training in ING Vysya to be bad

NO one told training to be a total Time Waste Process


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Q.3 Are you satisfied with training company conduct here?

Satisfaction

Yes

No

84% employees of ING Vysya are satisfied with the training programs.

While 16 % are not satisfied.


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Q.4 In which areas employee needs training?

In which area training is imp.


Skill based trainingProblem solving skills

All of the above

12% employee replied that training helps in getting better knowledge

about company policies and procedures.

18% employee thinks it increases there skills

33% employees thinks training improves there problem solving skills

While 47% takes training because of all the above reasons


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FINDINGS

57% employees found training in ING Vysya good.

40% employees found training in ING Vysya Very Good.

3% employees found training in ING Vysya to be bad.

89% employees found training in ING Vysya to be Helpful.

84% employees of ING Vysya are satisfied with the training programs.

33% employees thinks training improves there problem solving skills

Trained employees can work more efficiently.

Training makes an employee more useful to a firm.

Employees can avoid mistakes on the job. They can handle jobs with

confidence. They will be more satisfied on their jobs.


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CHAPTER V

CONCLUSIONS


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CONCLUSION

In this Knowledge-based economy, training helps people to learn how to do

the things differently or to the different things. Products are now increasingly

knowledge-intensive; for this employers are responsible for providing

opportunities for continued learning. To cope with the challenges and

competitiveness in the world, every organization needs the services of

trained persons for performing the activities in the systemic way. So, training

program plays a key role in individual as well as organizational performance.


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CHAPTER VII

SUGGESTIONS


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SUGGESTIONS

Training climate A good training climate comprises of ambience, tone, feelings, positive

perception for training program, etc. Therefore, when the climate is favorable nothing goes

wrong but when the climate is unfavorable, almost everything goes wrong.

Trainees learning style the learning style, age, experience, educational background of

trainees must be kept in mind in order to get the right pitch to the design of the program.

Training strategies Once the training objective has been identified, the trainer translates it

into specific training areas and modules. The trainer prepares the priority list of about what

must be included, what could be included.

Training topics After formulating a strategy, trainer decides upon the content to be

delivered. Trainers break the content into headings, topics, ad modules. These topics and

modules are then classified into information, knowledge, skills, and attitudes.

Sequence the contents Contents are then sequenced in a following manner:

From simple to complex

Topics are arranged in terms of their relative importance

From known to unknown

From specific to general

Dependent relationship

Support facilities It can be segregated into printed and audio visual. The various

requirements in a training program are white boards, flip charts, markers, etc.

Constraints The various constraints that lay in the trainers mind are:

Time

Accommodation, facilities and their availability

Furnishings and equipments

Budget

Design of the training, etc


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APPENDICES


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LIMITATIONS

1. The survey was conducted with in the company.

2. And in survey I have to interact with the employees. But the employees

will be busy their works.

3. Getting the good response from the employee will be difficult because of

their busy schedule.

4. Time to interact with employees inside the branch is not sufficient.

5. Time Period of my OJT is one of the limitations.


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QUESTIONNAIRE

1. Name:

2. Designation:

3. What is your opinion on training?

Good Very good Bad Time waste process

4. Do you feel that training is helpful for individual growth?

Yes NO

5. Are you satisfied with training ING Vysya conduct here?

Yes No

6. Is there any improvement in performance after getting the training?

Yes No

7. Who needs much knowledge regarding company and product?

Agents Tele callers Operations executives All

8. In which areas employee needs training?


Skill based training

Problem solving skills

All of the above

9 Feedback & Suggestions for ING Vysya Life ?


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BIBLIOGRAPHY

1) Lynton, R.P. and Pareek, U. Training for development, 2nd Ed., New

Delhi: Vistaar publication, 2002.

2) Bhatnagar, O.P. Evaluation methodology for training, New Delhi:

Oxford and IBH publishing co.pvt.ltd.

3) Rae, L. The art of training and development, effective planning. Vol. 1,

New Delhi.

4) Tannenbaum, S. A strategic view of organizational training and

learning.

5) A hand book of human resource management practice, 8th ed., 2001.

6) Personnel management, Mc. Graw Hill, 6th ed., 1981.

7) www.ingvysyalife.com

8) www.irda.com

9) www.lic.com

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