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ASTD Learn from the BEST 7 th September’2011

ASTD Learn from the BEST 7 th September’2011. Building capabilities to secure profitable growth. General insurance industry: 2001. Product. Standard products : Fire, Marine, Health, Motor 70% business contributed by corporate lines. Pricing. 67% under ambit of tariff

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ASTD Learn from the BEST 7 th September’2011

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  1. ASTD Learn from the BEST7th September’2011 • Building capabilities to secure profitable growth

  2. General insurance industry: 2001 Product • Standard products : Fire, Marine, Health, Motor • 70% business contributed by corporate lines Pricing • 67% under ambit of tariff • Concept of cross-subsidy Channels • Majority sourcing through company owned offices & agents People • Man-power intensive • Varying degrees of technical expertise Service • Limited innovation on service side • Cashless claim settlement unheard Process • Conventional processes entailing intensive paper work • No of players: 4; Premium: USD 2.14 bn (CAGR 14%)

  3. General insurance de-tariff: 2007 • Growth in Indian market restored to pre de-tariff (FY 2007) era • In pre de-tariff era, general insurance growth followed a 2x of GDP growth rate • In line with International experience reflecting recovery in 4 years • Low penetration in India led to comparatively higher trajectory • Industry profitability however, continued to be under stress Source : Regulator websites, Swiss Re reports

  4. General insurance industry: 2007 to date Product • Motor & Health are dominant categories • Retail contribution 50% of industry mix • De-tariff led to fall in growth rate & profitability across segments Pricing • 75% of business intermediated through agents, brokers Channels People • Talent from diverse background • Subject matter experts & risk manager required • Gap in supply & demand Service • Customer centric approach Process • Conventional processes continues with emergence of web-based • distribution • No of players: 24; Premium: USD 7.5 bn (CAGR 15%)

  5. ICICI Lombard GIC JV between ICICI Bank & Fairfax Group Largest Private sector Insurer in India Billion $ company Issued over 5.6 mn policies in FY 11 Serviced over 8.0 mn claims in FY11 315 branches & 4,264 employees

  6. Learning House E-Sat Score: 65% in Training Profit Centre Measure Leaders as Teachers Build the pipeline Engaging Andragogy Learning Effectiveness Management System How Our endeavour will be to equip our people to realize Vision 2015 of sustainable profitable growth while preserving our culture Why What All our learning interventions will be competency based with a high skill focus ensuring application in day to day business Building capabilities a critical business strategy

  7. Learning Objectives • Nurturing talent and managing change • Managerial skills • Strengthening cultural anchors The 3 arms of DLC focus on building competencies and building a pipeline. Knowledge certification is linked with career progression DLC: Functional DLC: Leadership DLC: Professional • Customer Centricity • Deep knowledge of products / systems / processes • Delivering promises • Risk focused • Understanding pricing and managing risks • Organizational capability • Operational excellence

  8. Need Based Maroon O Orange Induction Learning Ladder • Focus on 9 capability pockets • R&B, CSG, Motor & Health, Corp UW, Ops & Technology, FISG, Legal & ICLM & Others • Band specific learning ladder: 36 ladders mapped • Code Orange : threshold competency • Code Maroon : building proficiency • Learning tools • Content Mgmt System: knowledge repository • E-learning: skill builder based • Classroom: perspective/practice M Increasing competency depth and width

  9. Learning Ladder dummy slide Maroon Certification * Orange Certification CSG & SME Function Cadre Band V Program name Program description Certification Levels Mode of prg. delivery Product CertificationM – Corporate AML & Compliance Training date • Advanced Level Product Certification • 2 Modules – 1.0 GHI; 1.0 GPA; 1.0 OTC & 1.0 WC • 2 Modules –2.0 Marine Cargo; 2.0 Fire ; 2.0 Project • Modules incl. 2.0 Marine Cargo to be completed within 15 days of nomination; Duration: 2 hours per module (avg.) Maroon Level Trainings with program highlights DLC Olympiad Training date Product CertificationO – Corporate Accelerating Sales Performance – ASPO Performance Boosters • Selling skills • Understanding risks • Duration: 2 days Basic Level Product Certification * 1.0 Marine Cargo; 1.0 Fire; 1.0 Project Ins. 2 modules incl. 1.0 Marine Insurance & within 15 days of nomination; Duration: 2 hours per module (avg.) Product Campaigns Orange Level Trainings with program highlights Functional Professional/ Leadership Others *2 days Classroom trainings applicable for new joinees/ IJP movements for Product CertificationO Program Categories Slide No: 9 Back Button

  10. DLC Mentors 3 Apex Learning Body DLC Champions 44 O Subject Matter Experts Sponsors a Program DLC Leads M 28 Content Developers DLC Associates 93 Training Delivery Experts Leaders as teachers • Contextualized content based on ID principles • Each course has a business co-sponsor • Frontier performers invited as role models • Code Certification: 95% employee certified in FY11 • Code Certification initiated in April’11 • Training catalog consists of over 100 programs Developing teachable point of view

  11. Skill builder: e-modules

  12. Learn & grow DLC Mentors DLC Intranet page Individual Development Plan

  13. Thank You Slide No: 13

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