(Program for Divisional Managers, LIC of India)


 The public listing of LIC of India is expected in the fourth quarter of the current financial year. The Cabinet Committee on Economic Affairs (CCEA) has, earlier in the month of July 2021, given its ‘in-principle’ approval to divest certain percentage of the Government’s holdings to list LIC, during the fourth quarter of 2021-22.

 LIC is holding a prime position in the history of the Indian insurance industry. Its contribution to the Indian economy is unparalleled with a life fund of about Rs. 33 trillion, it is one of the biggest balance sheet of the nation. LIC continues to be great contributor to nation building since its formation in 1956. During the last 65 years, LIC has been serving the people of India with the noble motto of “Yogekshemam Vahamyaham” – “your welfare is my responsibility”. The corporation has been continuously moving forward with the visionary purpose of spreading life insurance widely and reaching out to all the insurable population in the country. The listing of LIC would demand a paradigm change to the objectives of the corporation that would include the goals like Profitability, Greater Transparency and Satisfied Stakeholders/Shareholders etc.

 Thus, there is an URGENT need to impart the required awareness amongst the officers, employees and field force about the process of the IPO and its perceived subsequent impact on the structure, the operations and also the objectives of the corporation.

 The dynamic and complex nature of the insurance sector in India would pose a constant challenge to cater to the ever changing customer demands and to stay competitive. The challenges being  encountered on account of the disruptions caused by the COVID 19 Pandemic and more importantly the proposed listing of the corporation makes the operational   landscape  all the more  different and challenging for the Corporation. There is an imperative need to bring about a reorientation amongst the internal stake holders to make them appreciate the importance of the situation from the right perspective and ready themselves for the challenges ahead.

 It is widely understood that the Sr Divisional Managers (I/C) in LIC play an extremely significant role in the hierarchy and the performance of the corporation. They are in a position to influence their team members to re-orient themselves towards the new and changed objectives of the corporation.

 It is, in this context, quite imperative to empower the present Divisional Managers, who are likely to take over as leaders of the Divisions or the various departments on promotion in the next two years, with skills to face the future challenges & make the best of the avenues available.

 It is on this back ground that the Academy have curated a focused program for all those Divisional Managers  who are due for promotion during the next two years to address the most pressing issues facing the Corporation today.

 The main objectives of this program is to deliver the learning and development solutions, the Divisional Managers would need for a successful transformation.

 Course Objectives

 The curriculum has been conceived and designed with the goals to bridge the gaps to understand and appreciate the different dynamics of the changing environment that would emerge consequent to the listing of the corporation. The primary objective would be to equip the Divisional Managers with the skills and the knowledge that would enable them to

ü  Keep themselves abreast of the latest trends and developments in the business environment.

ü  Transform themselves to leaders who can ardently steer forward the ever changing business landscape towards growth and profitability.

ü  Be aware of the dynamics of CORPORATE GOVERNANCE.

ü  Become the catalyst in redefining business paradigms and scripting new growth narratives.

ü  Be in a position to make optimal use of the new age technology.

ü  Understand and appreciate different tenets of Enterprise Risk Management.

ü  Develop themselves over a period of one year for the position of a CEO of a growing and profitable independent unit.

The topics that would be covered would include

Ø  Managing competitions

Ø  Dealing with different regulators and the respective regulations

Ø  Strategies to continue to be the market leader

Ø  Corporate Governance

Ø  Profitability of every office of the Corporation

Ø  Leveraging the new age technology (Insure tech), IOT, AI

Ø  Enterprise Risk Management

Ø  Develop a strategic plan to maintain the Brand Equity

Participants’ Profile:  Divisional Manager cadre Officers in the Promotion Zone in the next 1-2 years    

Duration:       3 days  (Classroom training)

Dates:              15-12-2021-17-12-2021