Lic Dev Officer Training

Apprentice Development
Officers Training
Presentation by:
Hemant Bhargava
Executive Director (Marketing/ PD)

Powerpoint Templates
Page 1
No. of ADOs- 5000 (approx.)

(23% of the total existing Dev. Officers)
Training period- 4 months
Page 2
Role of Development Officer
LIC
Corporate
goal
Role of an
development
officer
Objectives
of
marketing
policy
Page 3
Role of a Development Officer

Recruitment of agents
Nurturing of agents
sustaining a competent and

broad based agency
organization
Page 4
Activities of a Development officer

Knowledge
Consumer perception
Broad agency network
Should have
knowledge
about our
present
products and
their positioning
vis--vis
Competitors
products and
other financial
instruments
Should continuously be
on the look out to know
the feed-back from the
market about customer
preference, competition
performance and
customer expectation.
This can best be
achieved only when he
goes into the field
himself and not wholly
depend on opinion
through agents.
Therefore, a system of
household surveys
should be a part of
everyday activity.
Agents in all segments

so that we achieve
broad based
development in the
area.
Good geographical
spread of agents over
all the areas.
Agency force should be
capable of selling and
servicing with
knowledge and skill and
responsive to
customers needs with
a low exit rate and
increasing productivity.
Page 5
Page 6
400
Life Insurance Density in

BRIC nations & world average
350
378
World
Per capita life insurance in USD

300
250
Brazil
200
208
150
PR China
100
India
50
Russia
2001
2002
2003
2004
2005
2006
2007
2008
2009
99
49
2010
2011
7Page 7
10 Year Savings Trends in India

(Rs. In crore)
30000.00
25000.00
Financial Savings
Household Savings
Gross Domestic Savings
20000.00
24,81,931
17,49,311
15000.00
7,67,691
10000.00
5000.00
0.00
88
Page
Child segment
2011
24 crore
2021
26 crore
Page 9
Youth segment
(APL Population)
2011
29 crore
2021
36 crore
Page 10
Middle age segment (APL)

2011
22 crore
2021
30 crore
Page 11
Senior citizens
2011
7 crore
2021
11 crore
Page 12
Projections for 2020 with current trends

Business & Financial Measures 2013-14
2015-16
2017-18
2019-20
4.02
4.52
5.09
5.72
35.15
36.90
40.33
45.27
First Year Premium Income (Cr)
1,10,175 1,35,079 1,65,236
2,01,777
Total Premium Income
2,58,030
5,31,441
New Business Policies (in Crore)

P&GS (Conventional Lives)
Total Existing Policies (in Crore)
3,28,295
4,17,695
Predicted using Regression method,

assuming current growth rate of
business & economy.
13
Page 13
Projections with Vision 2020

Business & Financial
Measures
201314
201516
2017- 2019-20
18
New Business Policies

P&GS (Conventional Lives)
5.14
7.48
11.31
18.06
1.11
2.44
4.44
6.94
Total Premium Income (Cr)
2,92,036
4,20,532 6,05,567
8,72,016
Annual Accretion to Investments
1,13,594
2,14,099 2,51,510
5,08,552
1,84,022
3,46,841 4,07,446
8,23,854
(Cr)
Total Investment Funds (Cr)
(Incl Reinvestment)
1414
Page
2012: Channel-Wise Contribution

in Number of Policies
Direct
Marketing
0.25%
B&AC
1.66%
Health
0.65%
Micro
10.73%
CLIA
7.58%
Tied Agents
79.13%
15
Page 15
2020: Channel-Wise Contribution

in Number of Individual Policies
Agency
Manager
6%
NOTES:
37 crore BPL lives
through Social Security.
Number of lives covered
through Adhaar /NPR
based plan not included
here.
Tied Agency should be
81% if Agency Manager
Channel doesnt
materialize,
B&AC
3%
Tied Agency
75%
CLIA
7%
Direct
Marketing
2%
Micro
7%
16
Page 16
Growth Opportunities for

DOs
Page 17
Earning opportunity
Incentive 1 cr. & above
48 development officers earned it

in financial year 2011-12
Incentive More than 10

Lac
3600 development officers

earned it in financial year 2011-12
Incentive More than 1

Lac
14500 development officers

earned it in financial year 2011-12
Page 18
Growth opportunities through

Team Work
Page 19
7000
1450
development
officers- team
of more than
25 productive
agents
development
officers team
of more than
50 productive
agents
118
development
officers team
of more than
100
productive
agents
Page 20
DOs - as- SBAs

Office maintenance allowance- upto Rs.
30,000 p.m.
One time interest free advance for opening
the office- upto 1.50 lac
Transaction charges- Rs. 6/- per transaction
E-to-E underwriting- Upto Rs. 48/- per
proposal
Entertainment expenses- upto Rs.1000 p.m.
Page 21
Challenges
Page 22
The total life insurance premium

collected declined in the last fiscal year
Total prem
Growth %
First Year
Premium
Growth%
2007/08
201,351.41
29.01
93,712.52
23.88
2008/09
221,785.48
10.15
87,331.09
-6.81
2009/10
265,450.37
19.69
109893.91
25.84
2010/11
291638.63
9.87
126,398.18
15.02
2011/12
287,072.11
-1.57
113,942.17
-9.85
Page 23
Life insurance penetration-ratio of

premium to GDP- fell for the second
consecutive year
Page 24
The no of new life insurance policies

issued per year has shrunk
No of new life
insurance policies/yr
Growth in issue of new

policies
12.00%
60
10.23%
10.00%
50
8.00%
40
6.00%
30
no of new
life
insurance
policies/yr
20
10
0
4.52%
4.00%
2.00%
0.10%
growth in
issue of
new
policies
0.00%
-2.00%
2011/12
2010/11
2009/10
2008/09
2007/08
-4.00%
-6.00%
-8.00%
-10.00%
-8.22%
-9.53%
Page 25
After IRDA enforced new guidelines for ULIPs share of

ULIPs in the total assets under management of the
industry fell sharply
Share of ULIPs
27.52% 27.91%
30.00%
23.40%
25.00%
20.00%
17.37% 18.85%
15.00%
Share of ULIPs
10.00%
5.00%
0.00%
Page 26
PDOs Performance during 2011-2012

Zone
No of
PDOs
Average performance per PDO

Agents recruited Policies
NBFPI (Lac)
NZ
507
12
136
5.71
NCZ
457
12
155
5.25
CZ
304
11
155
4.31
ECZ
466
62
2.20
EZ
516
10
94
5.58
SCZ
508
14
131
6.25
SZ
439
13
175
4.58
WZ
786
12
132
6.81
AI
3983
12
Powerpoint
Templates128
5.28
Page 27
PDOs Exits during 2011-2012

Zone
No of
PDOs
Exits
Termination %
Resignation %
Total exits
NZ
507
1%
24%
25%
NCZ
457
0%
19%
19%
CZ
304
1%
32%
33%
ECZ
466
1%
26%
27%
EZ
516
0%
16%
16%
SCZ
508
1%
16%
17%
SZ
439
0%
17%
17%
WZ
786
2%
12%
14%
AI
3983
19%
20%
1%
Powerpoint
Templates
Page 28
Need for training

Familiarizing
Mission, vision,
values and goals for
individual growth and
growth of the
Corporation
Imparting knowledge
and experience
Developing the skills
& traits to enable him
to be a competent
Development officer
Page 29
Importance of Trainer for ADOs

Introduction to the culture
and ethics of the
corporation
Introduction to job profile
Introduction to insurance
sales techniques
Introduction to financial
environment
Introduction to the
available opportunities
Page 30
Role of trainer
Support
Inspire
Motivate
Challenge
Page 31
Emerging role of trainer

Knowing more about peoples learning
style
Constantly being in the touch with
trainees
Acquiring in-depth knowledge
Knowing latest development in the
industry
Knowing information technology and
using it for the training
Page 32
Contd.
Facilitating problem solving teams
Help trainees to think out of the box & be
innovative
Page 33
New skill requirements
Listening
Coaching
Facilitating small group interaction
Awareness about different learning styles
Measuring & Evaluating
Problem solving
Facilitating change in attitude, organization
Communication skills
Page 34
Training structure
IC-33
Team building
Product training
Agency and DO
Portal
Use of technology
for presentation &
communication
Sales techniques
Page 35
Page 36

Lic Dev Officer Training

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Lic Dev Officer Training

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Apprentice Development

Executive Director (Marketing/ PD)

No. of ADOs- 5000 (approx.)

Role of Development Officer

Role of a Development Officer

sustaining a competent and

Activities of a Development officer

Broad agency network

Agents in all segments

Life Insurance Density in

Per capita life insurance in USD

10 Year Savings Trends in India

Middle age segment (APL)

Projections for 2020 with current trends

First Year Premium Income (Cr)

1,10,175 1,35,079 1,65,236

Total Premium Income

New Business Policies (in Crore)

Predicted using Regression method,

Projections with Vision 2020

New Business Policies

Total Premium Income (Cr)

Annual Accretion to Investments

2012: Channel-Wise Contribution

2020: Channel-Wise Contribution

Growth Opportunities for

48 development officers earned it

Incentive More than 10

3600 development officers

Incentive More than 1

14500 development officers

Growth opportunities through

DOs - as- SBAs

The total life insurance premium

Life insurance penetration-ratio of

The no of new life insurance policies

Growth in issue of new

After IRDA enforced new guidelines for ULIPs share of

PDOs Performance during 2011-2012

Average performance per PDO

PDOs Exits during 2011-2012

Need for training

Importance of Trainer for ADOs

Emerging role of trainer

New skill requirements

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