NATIONAL INSURANCE ACADEMY

PUNE

 

P014 YOUNG EXECUTIVES PROGRAMME (LIFE)

(Exclusively for LIC of India) (2022-23)

 

Background: 

 

The young and dynamic officers of L.I.C. of India who currently hold positions at the level of Assistant Administrative Officers/Administrative Officers/Assistant Engineers/Assistant Executive Engineer are the future torch bearers of the Corporation. It is essential that they are groomed to gain expertise in their job and to prepare them for future challenges and responsibilities.

Objectives:

At the end of the programme participants shall be able to:

  Analyse the various environmental factors and their impact on organizational operations.

  Develop competencies required for operating in a competitive market-driven environment.

  Understand the basics of change management.

  Appreciate the need of multiple channels of distribution and their management.

  Understand the concepts of financial management.

  Internalize the philosophy of HRM and other concepts like Key Result Areas (KRAs) and Key Performance Areas (KPAs)

  Understand the source and use of data for effective decision making (Data Management & Applications)

  Leverage technology for enhancement of performance

  Empower them with the knowledge of product development, valuation and other technical aspects of life insurance.

  Prepare officers for Senior Positions and empowering them for the same.

  Learn to do research work.

Contents:

Environmental scanning with special focus on macro changes:

  Global Insurance Scenario

  Latest Trends In Life Insurance

  Changing Customer Profile

  Competitor Intelligence

Life Insurance Marketing

  Issues in Insurance Marketing

  Customer Relationship Management

  Distribution Channels and their management

  Digital marketing including social media marketing and E-commerce.

  Reaching out to Millennials

Finance & Accounting

  Life fund and its management

  Solvency margin norms

  Interpretation of financial statements of Life Insurance companies /IND-AS/GAAP/IFRS

  Convergence of financial markets

  Capital Markets

HR

  Self-Awareness

  Developing Leadership Competencies

  Team building

  Business Ethics

  Negotiation skills

  Personal Effectiveness

  Communication skills /Business etiquettes

  Presentation Skills

  Decision Making Skills

  Gender Sensitisation

  Creative Thinking & Problem Solving  

 Information Technology

  Data Analytics

  Fintech & InsureTech

  IT solutions for CRM

  Data Security and Data Integrity

  Cyber Risks, Trends & Management

  Enterprise Risk Management

 Insurance - Technical

  Appreciation of actuarial techniques.

  Product designing and pricing.

  Valuation aspects

  Legal & Regulatory Aspects

  LIC in a listed environment

  Grievance Redressal

  Introduction to Research Methodology for Project Work

  General / specific project work relevant to his / her area of work to be given to the participants at early stage by the coordinator.

  R.T.I. Act and it`s implementations.

Outbound Learning session- Experiential learning (2 Days)

Participants Profile: 

         All Assistant Administrative Officers (including AAOs promoted from Class III)/Administrative Officers/Assistant Engineers/Assistant Executive Engineers below 45 years of age and who have completed 5 years of service as an officer and who have not attended PYE (P709) earlier.

         The eligible officers to be nominated by respective Zonal HRD and CO HRD

Duration:       2 weeks

Dates:            

        I.            09.01.2023- 20.01.2023

     II.            30.01.2023- 10.02.2023