TRAINING AND DEVELOPMENT IN

Internship Report PGPM 2009-2011

Guided by: Miss Bhavna jain (Faculty)

Submitted by: Umang Badjatya PGPM Batch: 2009-2011 Cerebral Business School, Kota

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

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 Insurance Company 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 Branch Manager ING Vysya Life Insurance Co. Ltd. Kota

Umang Badjatya

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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 Life Insurance 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 CHAPTER II CHAPTER III CHAPTER IV CHAPTER V CHAPTER VI COMPANY PROFILE CONCEPTUAL FRAMEWORK RESEARCH METHODOLOGY FACTS & FINDINGS CONCLUSION SUGGESTIONS 10-27 28-35 36-40 41-48 49-50 51-52 53-56 57

APPENDICES BIBLOGRAPHY

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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 360degree 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 by evaluating 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 more risks 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 incometax 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 insurance products 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 goods and 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 an ideal 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, reinsurance 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 perceptions globally.

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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 underinsured 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 insurance companies 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 owned companies 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 unitlinked 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 lakhway 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 Enam Group.
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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 the knowledge & 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 customers manage 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 customers interests.
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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 the company. 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 stepby-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 of both 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 opinion or 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 .
No.of Persons 8 54 12 26

PROFESSION New Advisors Advisors Telecallers Marketing Executives

Diagram of the table:

60 50 40 30 20 10 8

54
New Advisors

26 12

Advisors Telecallers Marketing Executives

0 Having Sufficient Product Knowledge on Insurance

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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?

OpinionOn T raining

Good VeryGood Bad Tim Waste Process e

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.2

Do you feel that training is helpful for individual growth?

IsT rainingH elpful?

Yes No

89% employees found training in ING Vysya to be Helpful While 11% not.

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Q.3

Are you satisfied with training company conduct here?

S atisfaction

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 areatrainingis im p.

Company policies and procedures Skill based training Problem 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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LEARNINGS
Learnings in the on the job training 1) Importance of the training program 2) How the training program will help for the individual as well as organizational growth 3) The way to improve communication skills. 4) The way to behave people in corporate world.

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QUESTIONNAIRE Name: Designation: Good

4.

1. 2.

3. What is your opinion on training? Very good NO No No Tele callers Operations executives All Bad Time waste process Do you feel that training is helpful for individual growth? Yes
5.

Are you satisfied with training ING Vysya conduct here? Yes Is there any improvement in performance after getting the training? Yes Agents

6.

7. Who needs much knowledge regarding company and product? 8. In which areas employee needs training? Company policies and procedures Skill based training Problem solving skills All of the above 9 Feedback & Suggestions for ING Vysya Life ?

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

1)

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. A hand book of human resource management practice, 8th ed., 2001. Personnel management, Mc. Graw Hill, 6th ed., 1981. www.ingvysyalife.com

5)

6)

7)

8) www.irda.com 9) www.lic.com

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