NATIONAL
INSURANCE ACADEMY
PUNE
(2024 - 25)
Background:
“To act with confidence beyond the range of familiar beacons and to
overcome …… resistance (to innovation) requires aptitudes that are present
in only a small fraction of the population”.
---- Schumpeter
In the current complex and uncertain business scenario, life insurance
industry needs to plan strategically to succeed and most importantly meet the
policy holders and stakeholders’ expectations. However, it’s not enough to
chalk out the robust strategic plans, it is imperative that the strategic intent
gets translated to action on ground by the teams led by the SDMs In-charge and
achieve desired results.
To
do this it is essential that the SDMs require strategic thinking beyond the
normal SWOT analysis and conventional incremental planning. ‘Strategic
Intent’ is expected to provide long term vision and purpose to the Senior
Divisional Managers to achieve the results that commensurate with the available
market potential. This ‘Strategic Intent’ needs immaculate execution on the
ground to make it a success.
Due
to the dynamic and complex nature of the life insurance sector, there is a
constant challenge to cater to customer demands and stay competitive. The onset
of the pandemic of COVID 19 and more importantly the LISTING of the corporation
makes the operational landscape even more different and challenging for LIC.
There is a pertinent need to bring about a reorientation amongst the team
members, so that they can appreciate the situation from the right perspective
and ready themselves for the challenges ahead. The public listing of LIC of India is expected to bring
a paradigm shift to the objectives of the corporation that would include goals
like profitability, transparency, satisfied shareholders etc.
Objectives:
At the end of the programme the participants would be able to be deducing key priority areas for their respective divisions based on corporate strategy and strategic intent.
§
Identify performance drivers for strategy- execution
linkage.
§
Assess critical success factors for execution excellence.
§
Identify individual Leadership strengths to facilitate
strategy- execution linkage.
§
Recognise characteristics of high-performance teams
§
Appreciate the importance of strategic intent framework in
current competitive business environment.
§
Understand its significance and drive their teams for
intended results.
§
Value importance of execution excellence.
§
Keep themselves abreast of the latest trends and
developments in the business environment.
§
Transform themselves to leaders who can ardently steer
forward the ever-changing business landscape towards growth and profitability.
§
Be aware of the dynamics of Corporate Governance.
§
Become
the catalyst in redefining business paradigms and scripting new growth
narratives.
§
Be
able to make optimal use of the new age technology.
§
Understand
and appreciate different tenets of Enterprise Risk Management.
§
Think
and act like the CEO of a growing company with a focus on profitability,
satisfied stakeholders & shareholders and bring about transparency in all
his dealings.
Contents:
§
Economic
& Life Insurance Business Scenario-Domestic and Global: Challenges &
Opportunities --Implications for Strategy Formulation
§
Internalising
Strategic Intent: Role of SDMs In-Charge
§
Value
Creation with available resources
§
Lead
and Lag Performance Indicators and Strategy- Execution Framework
§
Agile
Leadership Mind-set and Execution Excellence
§
Building
High Performance teams
§
Managing
change and innovation,
§
Empowerment
and delegation
§
Business
ethics and Corporate Governance
§
Strategy
to leverage the emerging trends- GEN Z and Beyond.
§
LIC
in a listed environment—compliance with IRDAI, SEBI and RBI
guidelines/regulations and provisions of the Companies Act, 2013 as amended from
time to time.
§
Artificial
Intelligence- Predictive Analysis, IOT, Deep Learning.
§
Leveraging
Technology in acquisition of customers and Customer Engagement.
§
Conflict
Management & Negotiation Skills.
§
Case
Studies
Participants’ Profile:
Newly Promoted Senior / DMs in Charge of
Divisions - nomination by Zonal HRD Depts.
Duration: 3 days
Dates:
21.10.2024
- 23.10.2024