NATIONAL INSURANCE ACADEMY

PUNE

P829 –YOUNG EXECUTIVES PROGRAMME (YEP) FOR AOs (LIC)

(2023-24)

Background: 

The young and dynamic officers of L.I.C. of India who currently hold positions at the level of /Administrative Officers/ 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:

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

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

Ø  Understand the basics of change management.

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

Ø  Understand the concepts of financial management.

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

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

Ø  Leverage technology for enhancement of performance

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

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

Ø  Learn to do research work.

Contents:

Environmental scanning with special focus on macro changes:

Ø  Global Insurance Scenario

Ø  Latest Trends In Life Insurance

Ø  Changing Customer Profile

Ø  Competitor Intelligence

Life Insurance Marketing

Ø  Issues in Insurance Marketing

Ø  Customer Relationship Management

Ø  Distribution Channels and their management

Ø  Digital marketing including social media marketing and E-commerce.

Ø  Reaching out to Millennials

Finance & Accounting

Ø  Life fund and its management

Ø  Solvency margin norms

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

Ø  Convergence of financial markets

Ø  Capital Markets

HR

Ø  Self-Awareness

Ø  Developing Leadership Competencies

Ø  Team building

Ø  Business Ethics

Ø  Negotiation skills

Ø  Personal Effectiveness

Ø  Communication skills /Business etiquettes

Ø  Presentation Skills

Ø  Decision Making Skills

Ø  Gender Sensitisation

Ø  Creative Thinking & Problem Solving

 Information Technology

Ø  Data Analytics

Ø  Fintech & InsureTech

Ø  IT solutions for CRM

Ø  Data Security and Data Integrity

Ø  Cyber Risks, Trends & Management

Ø  Enterprise Risk Management

Insurance - Technical

Ø  Appreciation of actuarial techniques.

Ø  Product designing and pricing.

Ø  Valuation aspects

Ø  Legal & Regulatory Aspects

Ø  LIC in a listed environment

Ø  Grievance Redressal

Ø  Introduction to Research Methodology for Project Work

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

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

  Outbound Learning session- Experiential learning (2 Days)

Participants’ Profile: 

·         All Administrative Officers below 40 years of age and who have not attended PYE P709 or P014 earlier.

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

Duration:  12 days

Dates:

        I.            03.07.2023-14.07.2023

     II.            08.01.2024-19.01.2024