EFFECTIVENESS OF ‘ON THE JOB TRAINING METHOD - PRESENTATION SKILLS IN WORKSHOP’ FOR COMPETITIVE PERFORMANCE

2020 ◽  
pp. 54-62
Author(s):  
C. Gangadhar ◽  
Dr. B. R. Megharaj
Keyword(s):  
Life Insurance ◽  
Job Training ◽  
Insurance Industry ◽  
Private Life ◽  
Insurance Companies ◽  
Primary Data ◽  
Work Place ◽  
Training Methods ◽  
Competitive Performance ◽  
On The Job Training

The aim of training and orientation is to make the employees understand what to do and how to do. Orientation provides the employee with the information on company rules which are to be needed to get emotionally attached with the work place. It aims at making them to feel at home, introduces the work behaviour expected, helps to understand the organization as a whole and to socialize with the organizations culture, people etc. The insurance sector plays a very crucial role in the economy of any country – it increases avenues for savings of individuals, protects the future of individuals and spreads risks of institutions by forming a large pool of fund. The sector also contributes significantly to the capital markets and assists in large capital infrastructure developments of our country through their funds. Review of related literature in the area of life insurance services, products, private life insurance companies, awareness about insurance policies, perception of the policy holders, buying behaviour of the policy holders and policy holder satisfaction had been made by the researcher to establish validity of the research on Training Methods like On the job training, Off the job training and combination training in insurance industry. The present research is descriptive and conclusive, involving illustration and explanation descriptively followed by conclusions based on findings. It encompasses “Training Methods for Competitive Performance” (A study with reference to SBI Life, Andhra Pradesh). Primary data gathered by questionnaires form the empirical base which undergoes Statistical processing leading to findings. Findings are then transformed into suggestions and conclusions with inputs from the researcher’s academic experience. KEY WORDS: Insurance, Training, perception, On the job training, Competitive Performance

EFFECTIVENESS OF ‘ON THE JOB TRAINING METHOD - JOINT FIELD WORK’ FOR COMPETITIVE PERFORMANCE

2020 ◽  
pp. 63-71
Author(s):  
C. Gangadhar ◽  
Dr. B. R. Megharaj
Keyword(s):  
Life Insurance ◽  
Job Training ◽  
Insurance Industry ◽  
Private Life ◽  
Insurance Companies ◽  
Primary Data ◽  
Work Place ◽  
Training Methods ◽  
Competitive Performance ◽  
On The Job Training

The aim of training and orientation is to make the employees understand what to do and how to do. Orientation provides the employee with the information on company rules which are to be needed to get emotionally attached with the work place. It aims at making them to feel at home, introduces the work behaviour expected, helps to understand the organization as a whole and to socialize with the organizations culture, people etc. The insurance sector plays a very crucial role in the economy of any country – it increases avenues for savings of individuals, protects the future of individuals and spreads risks of institutions by forming a large pool of fund. The sector also contributes significantly to the capital markets and assists in large capital infrastructure developments of our country through their funds. Review of related literature in the area of life insurance services, products, private life insurance companies, awareness about insurance policies, perception of the policy holders, buying behaviour of the policy holders and policy holder satisfaction had been made by the researcher to establish validity of the research on Training Methods like On the job training, Off the job training and combination training in insurance industry. The present research is descriptive and conclusive, involving illustration and explanation descriptively followed by conclusions based on findings. It encompasses “Training Methods for Competitive Performance” (A study with reference to SBI Life, Andhra Pradesh). Primary data gathered by questionnaires form the empirical base which undergoes Statistical processing leading to findings. Findings are then transformed into suggestions and conclusions with inputs from the researcher’s academic experience. KEY WORDS: Insurance, Training, perception, On the job training, Competitive Performance

scholarly journals Complaint Redressal Practices in Public and Private Insurance Companies

2019 ◽  
Vol 8 (12S2) ◽  
pp. 369-374
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Insurance Industry ◽  
Private Insurance ◽  
Private Life ◽  
Insurance Companies ◽  
Public And Private ◽  
The Public ◽  
Life Insurance Industry ◽  
Regulations And Guidelines

The life insurance industry of India has 23 licenses -holders running their business in this sector. The Life Insurance Corporation of India (LICI), which is the only player in the public sector, the remaining area is covered by the 22 private sector companies. IRDAI has taken initiatives to provide effective grievance handling machinery to address the grievances of policyholders. Consumer dispute Redressal agency is efficient for handling complaints and easily accessible. This paper examines the regulations and guidelines framed by IRDAI for effective grievance handling and the study would provide some insights into the areas, specifically status of grievances in public and private life insurance companies (LIC, SBI, HDFC, Reliance Life and Bajaj Allianz) and the functioning of consumer dispute Redressal agencies of life insurance sectors.

scholarly journals A STUDY ON CUSTOMER PERCEPTION TOWARDS LIFE INSURANCE CORPORATION OF INDIA (WITH SPECIAL REFERENCE TO KUMBAKONAM TOWN)

2021 ◽  
Vol 9 (1) ◽  
pp. 1265-1269
Author(s):  
Dr. T. UNNAMALAI, V. RAJINIKANTH
Keyword(s):  
Customer Satisfaction ◽  
Special Reference ◽  
Life Insurance ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Primary Data ◽  
Chi Square ◽  
Customer Perception ◽  
Chi Square Test

This study shows at how consumers feel towards life insurance companies in Kumbakonam. Since people are becoming more aware of their own mortality and the insurance industry is becoming more competitive, it is important for insurance providers to consider their customers' needs. The primary goal of this research is to determine customer satisfaction with LIC. This research is based on primary data collected via a questionnaire from 150 policyholders in Kumbakonam, and the data was analysed using percentages and the chi-square test to determine the factors that influence customer satisfaction with LIC.

scholarly journals A STUDY ON SERVICE QUALITY PERCEPTION OF POLICYHOLDERS ABOUT PRIVATE LIFE INSURANCE COMPANIES IN TIRUNELVELI DISTRICT

2017 ◽  
Vol 5 (6) ◽  
pp. 619-626
Author(s):  
C.Eugine Franco ◽  
I Meenakshi
Keyword(s):  
Service Quality ◽  
Life Insurance ◽  
Insurance Industry ◽  
Private Life ◽  
Insurance Companies ◽  
Business Success ◽  
Infrastructure Development ◽  
Quality Perception ◽  
Insurance Sector ◽  
Important Means

Insurance sector plays a very important role in the development of any economy also, as it provides long term funds for infrastructure development and at the same time strengthens the risk taking ability. The current scenario in the insurance industry is a complex and competitive environment tinged with little stability. With the liberalization and globlisation in insurance, service quality has become an important means of differentiation and path to achieve business success. Such differentiation based on service quality can be a key source of competitiveness for insurance companies and hence have implication for leadership in such organizations. With the increasing demands of customer, insurance sector has become competitive. The purpose of the present study is to measure the service quality perception of customers about Private Life Insurance Companies.

Effective Customer Support System of Life Insurance Companies

2014 ◽  
Vol 4 (2) ◽  
Author(s):  
Rajesh Srivastava ◽  
Dr. Preeti Sharma
Keyword(s):  
Life Insurance ◽  
Economies Of Scale ◽  
New Technologies ◽  
Insurance Industry ◽  
Integrated Approach ◽  
Customer Experience ◽  
Disruptive Innovation ◽  
Insurance Companies ◽  
Insurance Business ◽  
Strategic Imperative

Increased competition, new technologies and the shift in power from the provider to the customer have produced unrelenting pressure on life insurance business. The market forces point to one overwhelming strategic imperative: customer-focused strategy. Customers are willing to build long-term relationships based on trust and mutual respect with firms that provide a differentiated and personalized service offering. Over the past few years, life insurance industry responded to intensified competition and high customer attrition by entering each other’s markets to capture greater “wallet share” and ostensibly lower their economies of scale. The service delivery process is influenced by quality of personnel, information technology, internal processes, human resource practices, and even an institution’s own change orientation. Now a day’s customers are demanding seamless, multi-channel sales and service experiences. Simultaneously, other players are looking for opportunities to invade this space or to redefine it through disruptive innovation. The result is forcing life insurance companies to examine a more balanced, integrated approach to the customer experience and growth. This research, we analyze the need, preference and satisfaction of customers in life insurance business and provide perspective on how to improve the customer experience.

The influence of Education, Occupation and Income on Perceived Customer Value

2015 ◽  
Vol 3 (1) ◽  
Author(s):  
Amit Sharma ◽  
Bodh Raj Sharma
Keyword(s):  
Life Insurance ◽  
Customer Value ◽  
Demographic Variables ◽  
Insurance Companies ◽  
Primary Data ◽  
Insurance Sector ◽  
Significant Difference ◽  
Quota Sampling ◽  
Indian Insurance ◽  
Perceived Customer Value

The aim of this paper is to assess empirically perceptual gap among the customers having different educational qualification, occupation and income regarding customer value in Indian insurance sector. It is a fact that insurance sector has been growing tremendously despite a lot of competition in the marketplace. The study is based upon the primary data obtained from customers of four life insurance companies belonging to various districts of J&K through quota sampling. A questionnaire was framed containing items of demographics and statements measuring customer value based upon seven point Likert scale. The findings indicate that the demographic variables viz., qualification, occupation and monthly income, there is no significant difference regarding perceived customer value among the life insurance players.

Poor Claims Settlement And Demand For Insurance Policies In Nigeria

2021 ◽  
Vol 8 (4) ◽  
pp. 53-64
Author(s):  
Omowumi Ayoni Momoh ◽  
Oyefemi Ismail O. Oyetunji
Keyword(s):  
Insurance Industry ◽  
Insurance Companies ◽  
Primary Data ◽  
Demand For Insurance ◽  
Insurance Policies ◽  
Chi Squared ◽  
Insurance Firms ◽  
And Control ◽  
Structured Questionnaire

This study investigates the poor claims settlement and demand for insurance policies in Nigeria to provide empirical evidence which would assist not only the insurance companies but also the policymakers by using these findings to design future insurance services and policies that can be geared towards promoting insurance market development. The population focused in the study included few licensed insurance firms in Nigeria. This is due to the fact that they dominate and control the larger interest in the market share. Primary data was used for this study through well-structured questionnaire. Chi- squared statistics and correlation with the tabulated contingency table on the basis of an assumptions were employed. The results show that poor claim settlement has significant effect on demand for Insurance policies in Nigeria and that there is long term and significant relationship between poor claim settlement and demand for insurance policies in Nigeria. The study therefore, recommends that insurance industry should be redefined through appropriate Acts, introducing competitions and innovations in the services so as to compete effectively and meet consumer needs by dealing with changing expectations of policyholders so as to ensure that satisfaction of all the parties are guaranteed.

scholarly journals Human Capital Management and Work Behavior: Evidence from Nepali Life Insurance Companies

2019 ◽  
Vol 4 ◽  
pp. 48-64
Author(s):  
Prakash Kumar Gautam
Keyword(s):  
Human Capital ◽  
Life Insurance ◽  
Pearson Correlation ◽  
Employee Motivation ◽  
Work Behavior ◽  
Insurance Companies ◽  
Primary Data ◽  
Capital Management ◽  
Human Capital Management ◽  
Workplace Behavior

Background: Human resource is dynamic and complex ever because of changes in local, regional and global dimensions. Managing people for optimal use of their competencies for organizational purpose has no options. Employee motivation and employee turnover is being the central issue in the modern organizations, corporate movement of competent people is being the regular corporate news in business arena. Human capital management (HCM) helps them to be satisfied and being positive to their work and the organization. It helps organization to cope with turnover challenge and deviant workplace behavior. Employee motivation, satisfaction, job burnout, turnover are being common challenges to the management. To cope with such challenges, organizations should have strategic focus on human capital management. Objectives: This study aims to explore the situation of human capital management in Nepali insurance companies and the employee’s satisfaction from human capital management. The study also aims to examine the association between satisfaction from HCM and workplace behavior. To examine the gender influence on workplace behavior of the employees created by HCM. Methods: This study was conducted with correlational research design. Primary data for each variable was collected from 402 employees of different seven life insurance companies having at least five years of business experience. To observe the current HCM practices, 3-Point statements were asked. Structured questionnaire with 5-Point Likert Scale was used to collect responses on satisfaction from HCM and the satisfaction towards positive workplace behavior. Descriptive statistics, Pearson correlation, and independent sample t-tests were used to examine the objectives. Result: Results of the study revealed that Nepali insurance companies have maintained human capital management causing employee satisfaction. Employees have reported that they have positive workplace behavior. Female employees have more positive workplace behavior of employees. Employee’s satisfaction from HCM is obtained having positive relationship with workplace behavior. Conclusion: Nepali insurance companies have satisfactory HCM effective to motivate their employees. Employee’s satisfaction leads for positive workplace behavior. There is no gender difference in satisfaction on HCM while female have more positive workplace behavior in comparison to their male counterparts. Implications: To cope with intense competition among the competitors in Nepali insurance industry, this study provides strong evidence to focus on HCM and positive workplace behavior.

scholarly journals AN EXPLORATORY RESEARCH STUDY OF MARKETING STRATEGIES OF IDBI FEDERAL INSURANCE CO. LTD

2021 ◽  
pp. 478-483
Author(s):  
Himanshi Goyal ◽  
Dr. Navneet Joshi ◽  
Sanjive Saxena
Keyword(s):  
Life Insurance ◽  
Coming Out ◽  
Research Study ◽  
Research Work ◽  
Marketing Strategies ◽  
Insurance Companies ◽  
Primary Data ◽  
Exploratory Research ◽  
Insurance Company ◽  
Insurance Cover

This paper is covers the exploratory research study on the marketing strategies of IDBI Federal Insurance, Company. In the Indian context, Insurance companies are playing a major role in the development of Indian economy. With the entry of many private players in the insurance industry, the competition has risen manifold and hence insurance companies are coming out with innovative marketing strategies to woo the customer. This was the reason for narrowing down the scope of the research work. The present paper is an exploratory research study on the marketing strategy of IDBI Federal Insurance Company. The paper seeks to address the following objectives (a) To determine the marketing strategies of IDBI Federal Life Insurance Co. Ltd (b) To determine the means and mechanism deployed by IDBI Federal Life Insurance Co. Ltd. Applying the marketing mix and to determine the effectiveness of the strategy and (c) to understand the reasons which provide competitive advantage to IDBI Federal Life Insurance Co. Ltd. The paper is developed on the basis of elementary primary and secondary data available in the Internet and other documents and journals. The design of the paper follows a structured approach. The literature review resulted in the generation of the research objectives. The primary data was collected by means of Google Forms and MS Excel was used for data analysis. Descriptive Statistics is used to arrive at the findings and interpretation. The findings indicate that the majority of the people seek insurance cover for the purpose of having risk cover and availing several benefits associated with the life insurance policies. Further, the findings indicate that there is a need to capitalize social media platform for generating awareness to drive the market growth. KEY WORDS: IDBI, Insurance, Marketing, Policies, Strategies

Sign in / Sign up

Export Citation Format

Share Document