Training Program to eliminate client’s misconceptions about life

insurance policy: A Group project submitted to American

International University-Bangladesh

Prepared and submitted by-

Name- Umma Sumaia

ID 05-0595-2
Name Khandaker Faria
ID 06-07116-2
Name Akhtar Naznin
ID 06-06691-2
Name Khan MD Saquib
ID 07-07642-1

A research paper Submitted to Mr. A. K. Nazmul, Assistant Professor, American

International University-Bangladesh, in partial fulfillment of
the requirements for Training and Development Course.

1
 Spring 2008
Dhaka, Bangladesh

April 27, 2009

To:

Mr. A.K.Nazmul
Assistant Professor
American International University – Bangladesh
Banani, Dhaka

Subject: Letter of Transmittal

Dear Sir,

Attached please find the Group Project Report on ``Training program to

eliminate clients misconceptions on life insurance policy’’ that you have
assigned us to prepare. We the group members have collected various
primary data and accumulated workable secondar y data from internet and
books. We have coiled those data furnished through this report. It will be
still a unique scope for us to learn more about the subject by clarif ying
an y observations if you have arising from the paper.

We are grateful to you for your continuous guidance in preparing the

Group Project Report.

Sincerely yours,

2
KHAN, MD.SAQUIB KHANDAKER FARIA

AKHTAR NAZNIN UMMA SUMAIA

ACKNOWLEDGEMENT

We w o u l d l i k e t o e x p r e s s o u r gr a t i t u d e t o t h e e m p l oy e e s o f
A m e r i c a n L i f e I n s u r a n c e C o m p a n y L i mi t e d a n d t h e
m a n a g e m e n t o f AI U B f o r p r o v i di n g u s a u s e f u l a n d
c o m f o r t a b l e l e a r n i n g e n v i r o n m e n t . We w o u l d a l s o l i k e t o
t h a n k o u r c o u r s e i n s t r u c t o r M r. A . K . N a z mu l , A s s i s t a n t
P r o f e s s o r, A m e r i c a n I n t e r n a t i o n a l U n i v er s i t y – B a n g l a d e s h
f o r h i s k i n d , c o n t i n u o u s g u i d a n c e a n d r e l e n t l e s s e ff o r t s t o
m a k e o u r G r o u p P r o j e c t R e p o r t a w or t h o n e . We b e l i e v e t h a t
f o r h i s e ff o r t a n d g u i d a n c e w e w i l l b e a b l e t o p r e p a r e a r e a l
t r a i n i n g p r o g r a m w o r k i n g i n a n o rg a n i z a t i o n .

3
 Table of Contents:

Contents

1. Introduction to the Organization……………………………………………5

Regional Office
ALICO BD
Business Operations
ALICO’s Contribution to the Society

2. Introduction to the Study……………………………………………………7

Scope of the Study
Methodology

3. Needs Assessment…………………………………………………………..9
Why needs assessment necessary
Methods used in needs assessment
Organizational Analysis
Person Analysis
Task Analysis

4. Ensuring Employees Readiness of Training………………………………..14

5. Creating a Learning Environment………………………………………….14

6. Ensuring Transfer of Training……………………………….……………..15

7. Developing an Evaluation Plan……………………………….……………15

8. Selecting Training Method…………………………………………………15

9. Implementation……………………………………………………………..16

10. Monitoring and Evaluating the Program………………...…….………….17

11. Conclusion………………………………………………….……………..17
.
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12. Appendix-A: Survey Report Questionnaire………………………………18
Evaluation of program

13. Bibliography………………………………………………………………20

Introduction to the Organization [1]

American Life Insurance Company (ALICO), a subsidiary of

American International Group, Inc. (AIG), is one of the largest
I n t e r n a t i o n a l L i f e i n s u r a n c e c o m p a n i e s i n t h e w o r l d . A L I C O ’s
branches and subsidiaries market a wide range of life and health
insurance products, including traditional, variable universal and
credit life insurance, as well supplemental medical and personal
accident products, health and hospitalization insurance, group life,
pensions and annuities through a variety of channels. The company
operates in more than 135 countries and regions around the world
including Japan, Europe, the Middle East, South Asia, Latin America
and the Caribbean.

Regional Office:

The regional office of the compan y at Sharjah, Dubai, oversees the

administrative and business affairs of Alico Bangladesh. It invests
i t s e n t i r e i n v e s t a b l e s u r p l u s l o c a l l y, m o s t l y i n g o v e r n m e n t
securities/banks and shares/stocks of companies, thereby allowing
usage of its progressively increasing fund in such public interests as
infrastructure development, industrialisation and emplo yment
generation.

ALICO BD:

American Life Insurance Company (Alico Bangladesh) started full

service branch operations in Bangladesh on 15 January 1974 and has
since then been marketing individual and group life insurance
products under the Insurance Act 1938, Insurance Rules 1958, and
o t h e r a p p l i c a b l e l a w s . A l i c o , i n c o r p o r a t e d i n 1 9 2 1 i n Wi l m i n g t o n ,
Delaware, USA, is the largest international life insurance Compan y
in the world. It is a member company of the American International
Group (AIG) that operates life insurance businesses in more than
135 countries. American Life Insurance Company Bangladesh
(referred to as the company hereafter) runs its business through its
agency offices scattered mostly in big cities such as Dhaka (43),
5
Chittagong (9) and Khulna (3). Over 7,900 career agents are working
f o r t h e c o m p a n y. T h e c o m p a n y h a s a t r a i n e d a n d d e d i c a t e d w o r k
force of 240 emplo yees in Bangladesh.

Business operation:

Net premium income received by the company from direct business

in 1999 was Tk 1,896.75 million as against Tk 21.12 million in
1981. The figures include both new or first year premiums and
renewal premiums derived from its various life insurance
plans/schemes such as ordinary life policies, personal accident
protection, group life, group medical, and ordinary term insurance.
Re-insurance premium paid by the company to its re-insurer abroad
was Tk 0.32 million in 1999, when it paid a net amount of
commission of Tk 333.94 million. Net claims settled by the company
d u r i n g t h e y e a r a m o u n t e d t o T k 7 5 . 11 m i l l i o n .

Apart from net premium income derived from direct life insurance
business, the company earned Tk 514.81 million in 1999 as interest,
dividend, and rent income. Major investments of the company were
in short term deposits with banks, national investment bonds,
Pratirakkha Sanchaya Patra, shares of companies, ICB-mutual funds,
policy loans to holders, fixed deposits and permanent investment in
real estate. The assets of the company were valued at Tk 5,900.27
million and the revenue surplus stood at Tk 1,042.29 million in the
r e f e r e n c e y e a r.

A L I C O ’s c o n t r i b u t i o n t o t h e s o c i e t y :

A L I C O p l a ys a n i m p o r t a n t r o l e i n t h e e c o n o m y o f B a n g l a d e s h . I t s
assets in Bangladesh currently exceed TK. 2,100 Crore with more
than 7,900 career agents and more than 240 dedicated employees,
A L I C O i s a m a j o r e m p l o y e r i n t h e c o u n t r y.

6
 Introduc tion to the study [2]

Tr a i n i n g r e f e r s t o p l a n n e d e f f o r t b y a c o m p a n y t o f a c i l i t a t e
employees’ learning of job related competencies. These
competencies include knowledge, skills, or behaviors that are
critical for successful job performance. The goal of training is for
employees to master the critical for successful job performance. The
goal of training is for emplo yees to master the knowledge, skill, and
behaviors emphasized in training programs and to apply them to
their day-to-day activities. Recently it has been acknowledged that
to gain a competitive advantage, training has to involve more than
just basic skill development. This is to use training to gain a
competitive advantage; training should be viewed broadly as a way
to create intellectual capital. Intellectual capital includes basic
s k i l l s ( s k i l l s n e e d e d t o p e r f o r m o n e ’s j o b ) , a d v a n c e d s k i l l s ( s u c h a s
how to use technolog y to share information with other emplo yees),
an understanding of the customer or manufacturing system, and self-
m o t i v a t e d c r e a t i v i t y.

The training design process refers to a systematic approach for

developing training programs. There are seven steps in this process.
Step 1 is to conduct a needs assessment, which is necessary to
identif y if training is needed. Step 2 is to ensure that employees
have the motivation and basic skills necessary to master training
content. Step 3 is to create a learning environment that has the
f e a t u r e s n e c e s s a r y f o r l e a r n i n g t o o c c u r. S t e p 4 i s t o e n s u r e t h a t h a s
t h e f e a t u r e s n e c e s s a r y f o r l e a r n i n g t o o c c u r. S t e p 4 i s t o e n s u r e t h a t
trainees apply the training content on their jobs. This step involves
having the trainee understand how to manage skill improvement as
well as getting co worker and manager support. Step 5 is to develop
an evaluation plan. Developing an evaluation plan includes
i d e n t i f y i n g w h a t t yp e s o f o u t c o m e s t r a i n i n g i s e x p e c t e d t o i n f l u e n c e
( f o r e x a m p l e , l e a r n i n g , b e h a v i o r, s k i l l s ) , c h o o s i n g a n e v a l u a t i o n
design that allows you to determine the influence of training on
these outcomes, and planning how to demonstrate how training
a f f e c t s t h e ` ` b o t t o m l i n e ’’ ( t h a t i s u s i n g c o s t b e n e f i t a n a l y s i s t o
determine the monetary benefits resulting from training). Step 6 is
7
to choose the training method based on the learning objectives and
learning environment. This step may include a traditional training
method of face to face interaction with a trainer or e- learning using
CD-ROM or web based training. Step 7 is to evaluate the program
and make changes in it or revisit any earlier steps in the process to
i m p r o v e t h e p r o g r a m s o t h a t l e a r n i n g , b e h a v i o r, c h a n g e a n d o t h e r
learning objectives are obtained.

The primary objectives of ALICO is to sell as much as insurance

p o l i c y a s p o s s i b l e . T h e c o m p a n y ’s p r o d u c t i s i n s u r a n c e p o l i c y.
Therefore their business is different than other industries.

ALICO BD has 130 agencies in Bangladesh. Every agency has a

m a n g e r. T h e m a n a g e r ’s r e s p o n s i b i l i t y i s t o m a n a g e t h e e m p l o y e e s
and encouraging them to sell more products. The money gained from
premiums is invested in NIB of Bangladesh Bank. In ALICO,
w h e n e v e r a p e r s o n j o i n s t h e c o m p a n y, a b a s i c t r a i n i n g i s g i v e n t o
him. Later working in the practical environment, when that person
improves his/her skills he/she has wide opportunities to participate
any ongoing training programs. The information on current training
programs can be found on notice boards and company web-sites.
ALICO is a fully digitalized; members here can see their profile and
check individual performance. The company has a leaders club, in
which 20% the agents are considered best performing agents. ALICO
has professional trainers in the field, they normally hire in house
trainers but sometimes they invite foreign trainers to train the
trainers.

Scope of the study:

In this training program design we want to train those consultants

who are having problems in selling the policies. Although these
professionals has attended the basic training programs before
joining, but they are still facing problems in dealing with various
clients misconceptions about life insurance policies. Because the
public misconception is a problem can’t be handed without
experience. The consultants should be given a basic knowledge
about the types of misconceptions and an intelligent approach of
clearing it through dialogues.

8
1
s o u r c e : W W W. . A L I C O : A n A I G C o m p a n y. c o m
2
N o e , E m p l o y e e Tr a i n i n g a n d D e v e l o p m e n t
Methodology:

I n o r d e r t o p r e p a r e a t r a i n i n g p r o g r a m f o r t h e c o m p a n y, w e h a v e
made some necessary arrangements for information.

P r i m a r y S o u r c e : We h a v e a p p r o a c h e d t o a n I n s u r a n c e C o n s u l t a n t
a n d h e p r o v i d e d u s s o m e g e n e r a l i n f o r m a t i o n a b o u t t h e c o m p a n y. B u t
in order to get raw information we have to conduct an employee
survey which requires an approval from the head of the training
d e p a r t m e n t , s i n c e s o m e o f t h e d a t a i s s e n s i t i v e . We w i l l a l s o
interview the Head of the training department to find valuable
information.

S e c o n d a r y S o u r c e : We h a v e c o l l e c t e d s o m e p a p e r s w h i c h d e a l w i t h
t h e t r a i n i n g p r o g r a m d e s i g n . We h a v e a l s o s e a r c h e d t h e c o m p a n y
w e b s i t e f o r i n f o r m a t i o n ( h t t p : / / w w w. a l i c o . c o m ) a n d B a n g l a p e d i a .
We w i l l a l s o l o o k f o r t h e H o m e p a g e f o r A m e r i c a n S o c i e t y f o r
Tr a i n i n g a n d D e v e l o p m e n t , a c c e s s t o Tr a i n i n g a n d D e v e l o p m e n t …
… … … w w w. a s t d . o r g

N e e d A s s e s s me n t : [3]

Need assessment refers to the process used to determine whether

training is n e c e s s a r y. Need assessment typically involves
o r g a n i z a t i o n a l a n a l ys i s , a n d t a s k a n a l y s i s . A n o r g a n i z a t i o n a l
analysis involves determining the appropriateness of training, given
t h e c o m p a n y ’s b u s i n e s s s t r a t e g y, i t s r e s o u r c e s a v a i l a b l e f o r t r a i n i n g ,
and support by managers and peers for training activities. Person
ana l ysis helps to ident it y who needs train ing. Person anal ys is
involves (1) determining whether performance deficiencies result
from a lack of knowledge, skill, or ability (a training issue) or from
a motivational or work-design problem, (2) identifying who needs
t r a i n i n g , a n d ( 3 ) d e t e r m i n i n g e m p l o y e e s ’ r e a d i n e s s f o r t r a i n i n g . Ta s k
analysis identifies the important tasks and knowledge, skill, and
behaviors that need to be emphasized in training for emplo yees to
complete their tasks.

9
W h y n e e d s A s s e s s me n t N e c e s s a ry : [4]

Need assessment is the first step in the instructional design process,

and if it is not properly conducted any one or more of the following
s i t u a t i o n s c o u l d o c c u r.

• Tr a i n i n g m a y b e i n c o r r e c t l y u s e d a s a s o l u t i o n t o a
performance problem (when the solution should deal with
employee motivation, job design, or a better communication of
performance expectations).
• Tr a i n i n g p r o g r a m s m a y h a v e t h e w r o n g c o n t e n t , o b j e c t i v e s o r
methods.
• Tr a i n e e s m a y b e s e n t t o t r a i n i n g p r o g r a m s f o r w h i c h t h e y d o
not have the basic skills, prerequisite skills, or confidence
needed to learn.
• Tr a i n i n g w i l l n o t d e l i v e r t h e e x p e c t e d l e a r n i n g , b e h a v i o r
change, or financial results that company expects.
• Money will spent on training programs that are unnecessary
b e c a u s e t h e y a r e u n r e l a t e d t o t h e c o m p a n y ’s b u s i n e s s s t r a t e g y.

There are many pressure points that suggest that training is

n e c e s s a r y. T h e s e p r e s s u r e p o i n t s i n c l u d e p e r f o r m a n c e p r o b l e m s , n e w
t e c h n o l o g y, i n t e r n a l o r e x t e r n a l c u s t o m e r r e q u e s t s f o r t r a i n i n g , j o b
redesign, new legislation, and changes in customer preferences, new
products, and ort employees’ lack of basic skills. Note that these
pressure points do not guarantee that training is the correct solution.
For example, a delivery truck driver whose job is to deliver
anesthetic gases to medical facilities. The driver mistakenly hooks
up the supply line of a mild anesthetic to the supply line of a
h o s p i t a l ’s o x y g e n s ys t e m , c o n t a m i n a t i n g t h e h o s p i t a l s o x y g e n
s u p p l y. W h y d i d t h e d r i v e r m a k e t h i s m i s t a k e , w h i c h i s c l e a r l y a
performance problem? The driver may have made this mistake
because of a lack of knowledge about the appropriate line hookup
for the anesthetic, because of anger over a requested salary increase
t h a t t h e d r i v e r ’s m a n a g e r r e c e n t l y d e n i e d , o r b e c a u s e o f m i s l a b e l e d
v a l v e s f o r c o n n e c t i n g t h e g a s s u p p l y. O n l y t h e l a c k o f k n o w l e d g e

10
can be addressed by the training. The other pressure points require
addressing issues related to the consequences of good performance
or the design of the work environment.

3
N o e , E m p l o y e e Tr a i n i n g a n d D e v e l o p m e n t
4
N o e , E m p l o y e e Tr a i n i n g a n d D e v e l o p m e n t

M e t h o d s u s e d i n N e e d s A s s e s s me n t : [5]

Observation: Observations generate data which are relevant to work

environment. It minimizes interruption to work. But it requires
skilled observer and emplo yees’ behavior may be affected by being
observed.

Questionnaires: Questionnaires are inexpensive to operate and

therefore can collect data from a large number of persons. But it
requires time and sometimes provides inappropriate responses.

Interviews: Interviews are good at uncovering details of training

needs as well as causes and solutions of problems. It can explore
unanticipated issues that came up and therefore questions can be
modified. This method is time consuming, difficult to analyze, needs
s k i l l e d i n t e r v i e w e r, c a n b e t h r e a t e n i n g t o S M E s a n d d i f f i c u l t t o
schedule.

Focus groups: It is useful with complex and controversial issues

that one person may be unable or unwilling to explore. Question can
be modified to explore unanticipated issues. This method is time
consuming to organize, group members only provides information
t h e y t h i n k t h e y p r o v i d e t h e i n t e r v i e w e r w a n t t o h e a r. G r o u p m e m b e r s
may be reluctant to participate if status difference exists among
members.

Documentation: It is good source of information on procedure and

good source for task information. But understanding technical
language may be difficult.
5
N o e , E mp l o ye e Tr a i n i n g a n d D e ve l o p me n t

We w i l l f o l l o w interviews and observations to conduct needs

assessment.

N e e d s A s s e s s m e n t t yp i c a l l y i n v o l v e :
 Organizational analysis
 P e r s o n a n a l ys i s
11
 Ta s k a n a l y s i s

Organizational analysis:

Organizational analysis involves identifying whether supports the

c o m p a n y ’s s t r a t e g i c d i r e c t i o n ; w h e t h e r m a n a g e r s , p e e r s , a n d
employees support training activity; and what training resources are
available. Some combination of documentation, interviews, or focus
groups of managers and individuals in the training function should
be used to answer these questions. [6]

Our training programs main intention is to help the newly recruits.

T h e t r a i n i n g ’s m a i n p u r p o s e i s t o p r o v i d e t h e a g e n t s w i t h t h e
knowledge on prospects misunderstandings about life insurance
policies and how to provide corrective and skillful actions. In order
to know whether training will help them improving the performance,
we have to conduct organization analysis.

A f t e r c o n d u c t i n g t h e a n a l y s i s , w e h a v e f i n d t h a t A L I C O ’s m a i n
strategy is to produce a skilled and motivated agents who will be
sell insurance policies to the prospects and expand the business. In
order to do this training is required. Every year ALICO spends huge
amounts of money on training. The compan y's training departments
s i t u a t e d i n h e a d q u a r t e r. T h e y f o l l o w v i r t u a l t r a i n i n g m o d e l . T h i s
means if an agent is concerned about his/her development wants to
a t t e n d a t r a i n i n g p r o g r a m , s u c h a s ` ` m a n a g i n g c o r p o r a t e s a l e s ’’
he/she can consult with the agency manager or send an application
d i r e c t l y a t h e a d q u a r t e r. T h e i d e a i s t h a t e v e r y o n e s h o u l d h a s t o
identify their weakness and should be responsible for his/her own
skill development.

In this organization everyone normally supports training which is

r e l a t e d w i t h t o i m p r o v i n g s a l e s a c t i v i t y. B e c a u s e t h e i r c o m m i s s i o n i s
based on the number of policies they sell.

Person analysis:

Person analysis helps to identify emplo yees who need training, that
12
is, whether current performance or expected performance indicates a
need for training. The need for training may result from the pressure
points. Readiness for training refers to whether (1) employees have
t h e p e r s o n a l c h a r a c t e r i s t i c s ( a b i l i t y, a t t i t u d e s , b e l i e f s , a n d
motivations) necessary to learn program content and apply it on the
job and (2) the work environmental will facilitate learning and not
interfere with performance. This process includes evaluating person
characteristics, input, output, consequences, and feedback. Personal
c h a r a c t e r i s t i c s r e f e r t o t h e e m p l o y e e s ’ k n o w l e d g e , s k i l l , a b i l i t y, a n d
attitudes. Input relates to the instructions that tell employees are
given to help perform. Input also refers to the resources that the
employees are given to help them perform. These resources are
e q u i p m e n t , t i m e , o r b u d g e t . O u t p u t r e f e r s t o t h e j o b ’s p e r f o r m a n c e
standards. Consequences refer to the type of incentives that
employees receive for performing well. Feedback refers to the
information that emplo yees receive while they are performing.
Motivation to learn is trainees’ desire to learn the content of
training programs. [7]

In ALICO, there are 7,900 career agents. Initially when an

individual joins the organization, he/she works as temporar y
recruits. In order to stay in the organization he/she has to sell at
least 3 policies within 90 days. If they sell the policies at a
satisfactory rate then they will become permanent agents. But recent
statistics shows that many of these people are not able to survive in
this business or struggling. Our training program is focused on
h e l p i n g t h e s e n e w l y r e c r u i t . We b e l i e v e t h a t a f t e r a t t e n d i n g o u r
training program their performance will improve.

The career agents are undergraduate degree holders this shows they
are eligible to attend the training program.

Motivation to learn: In ALICO the agents receives a commission

from 15% to 80% on sales. In addition the company gives them
training allowances for the trainees. Since the training program will
take away the valuable time on work. This shows that employees are
easily motivated to attend the training program. Moreover this
training is an optional basis, it is provided for their own good.

Ta s k a n a l y s i s :

Ta s k a n a l y s i s r e s u l t s i n d e s c r i p t i o n o f w o r k a c t i v i t i e s , i n c l u d i n g
tasks performed b y the emplo yee and the knowledge, skills, and
abilities required to complete the tasks. A job is a specific position
13
r e q u i r i n g t h e c o m p l e t i o n o f c e r t a i n t a s k s . A t a s k i s t h e e m p l o y e e ’s
work activity in a specific job. [8]

T h e c a r e e r a g e n t ’s t a s k s a r e t o s e l l t h e i n s u r a n c e p o l i c y a n d a c t a s
an advisor to its clients. An insurance sales man has to be physically
fit, he/she always have to have a smiling face and are not allowed to
be impatient. They should be smart and have excellent interpersonal
skills. They should have the ability to select and convince potential
clients.

E n s u r i n g E mp l o y e e s R e a d i n e s s f o r t r ai n i n g :

This step ensures whether the emplo yees have motivation and basic
skills necessary to master the training content. The company has
code numbers of every employee and their profiles are recorded in
t h e c o m p u t e r. I n o r d e r e n s u r e t h e r e a d i n e s s f o r t r a i n i n g t h e t r a i n i n g s
purpose and outcomes will be communicated to them through the
company web sites and notice boards. Those who are interested to
learn will be advised to contact the training department through
their agency managers. The outcomes of the training are enough to
motivate them.

C re a t i n g a L e a r n i n g E n v i ro n me n t :

Meaningful materials: The ALICO Headquarter has a good

e n v i r o n m e n t f o r l e a r n i n g t o o c c u r. I t h a s a b i g a u d i t o r i u m w i t h a
capacity of 300 seats. The room is air-conditioned and equipped
with LCD projectors and electronic speakers for lecture. The
company is willing to provide time and appropriate materials for the
t r a i n i n g t o o c c u r.

Learning Objectives: The idea of this training is to make the

trainees understand the subject matter and prepare them to use the
knowledge in practical world.

Practice: The trainers will be given case studies and group

assignments.

F e e d b a c k : T h e r e w i l l b e a n a s s i s t a n t f o r t h e t r a i n e r, h i s j o b w i l l
only be to review the assignments prepared by the trainees and give
marks. He will be responsible for providing feed back and guidance.

Community of Learning: The newly recruits are the trainers and

together they will establish community of learning.
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Program Administration: The head of the training department will
administer the training program.

6
N o e , E mp l o ye e Tr a i n i n g a n d D e ve l o p me n t
7
N o e , E mp l o ye e Tr a i n i n g a n d D e ve l o p me n t
8
N o e , E mp l o ye e Tr a i n i n g a n d D e ve l o p me n t

E n s u r i n g Tr a n s f e r o f Tr a i n i n g :

The step is to ensure that trainers apply the training content on the
job. In order to do this we have selected the best people on the job
who will provide the training. The main purpose behind everything
is first to make the trainees understand and prepare them to use that
learning on the job. The trainers are skilled and they will make sure
that the trainees understand the subject well.

Peer and Managers support: The agency managers will be assured

that if the training is successful, the performance of the agents will
increase and this will result in more selling of the policies. The
Agency managers will then be benefited from the increased sales.

Developing an Evaluation plan:

To i d e n t i f y t h e l e a r n i n g o u t c o m e s q u i z z e s , p r o j e c t w o r k , c a s e s t u d y
and finally individual presentation will be conducted. This
evaluation process
will determine whether the training program was successful or not.
In the long-run we have prepared a cost benefit analysis. The cost of
the training is trainers’ fees, preparation of the auditorium and
training allowances. The benefits will be measured in the long-run.
As alread y mentioned, each emplo yee has a code number recorded in
t h e c o m p u t e r. T h e s e l l i n g a c t i v i t i e s o f t h e t r a i n e e s w i l l b e m o n i t o r e d
f o r o n e y e a r. I f o n a v e r a g e , e v e r y t h e s e l l s a c t i v i t i e s i n c r e a s e d f r o m
3 to 6 policies per month, we will consider our training program is
successful.

S e l e c t i n g Tr a i n i n g M e t h o d :

A L I C O h a s a n i d e a l e n v i r o n m e n t f o r t r a d i t i o n a l l e a r n i n g t o o c c u r.
Although E-Learning could be introduced here due consideration of
the location dispersed people, but man y of the agents doesn’t have
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computers. Therefore traditional learning was considered
appropriate.

IMPLEMENTATION OF TRAINING PROGRAM

Training Course for Performance Improvement for Career Agents

Day - 01

TIME CONTENT FACILITATOR

0900-1000 Registration J. Abedin
1000-1045 Analyze course objectives M.N.Islam
1045-1100 Tea Break
1100-1300 Types of misconceptions on life insurance policies M.R.Shameem
1300-1400 Lunch Break
1400-1530 Finding the right customer and identifying his/her fear of M.R.Shameem
the insurance product
1530-1545 Tea Break
1545-1730 How to eliminate clients misconception H.S.Ferdous

Day - 02

TIME CONTENT FACILITATOR

0900-0930 Review previous day’s learning J.Abedin/
M.R.Shameem
0930-1045 Use of rate books R.H.Khan
1045-1100 Tea Break
1100-1300 Improving communications skills Mahavir Pati/
K.H. Imtiaz/
1300-1400 Career agent agreement/ Contract & benefits K.S.Ali/ M.H.
Zaman

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1400-1600 Course evaluation H.S.Ferdous

M o n i t o r i n g a n d E v a l u a t i n g t h e P ro g r a m:

The main purpose of this training program is to improve

p e r f o r m a n c e o f t h e n e w l y r e c r u i t s . We w i l l s e e w h e t h e r t h e i r
performance has improved or not. If their performance improves, we
will implement this training program in future.

After this training program, we will conduct a survey to the

individuals who were involved and individuals who have attended
t h e t r a i n i n g p r o g r a m . We w i l l a n a l y z e t h e i r c o m m e n t s o n t h e
training which will be used to re-adjust the program.

Conclusion :

I n c o n c l u s i o n o f t h e p a p e r, w e w o u l d l i k e t o s a y t h a t A L I C O i s t h e
holder and carrier of our every life. Because, from the findings of
the questionnaire we have seen that people who have forgotten to
purchase the life insurance policy and their other products, ALICO
has inspired them to purchase these types of products. ALICO
basically serves those products that helped people to lead tension
free life. The people who like to lead good life, they are more likely
to purchase ALICO product. So at last we are able to reach our
h y p o t h e s i s t h a t A L I C O ’s p r o d u c t i s p u r c h a s e d a c c o r d i n g t o
ethnocentrism of the people as well as preference of the top
q u a l i t y.

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 Appendix - A

Needs Assessment
Interview/Questionnaire

For Managers:

Q-1. What is your business strategy?

Q-2. What is your staffing strategy?

Q-3. Do you think the newly recruits are performing well?

Q-4. What do you think will help them to improve their performance?

Q-5. Do they know their task and responsibility?

Q-6 Do you think they are motivated?

Q-7 Do you think a training program will help them to improve their performance?

Q-8 How much money do you think is appropriate?

Q-9 How much time and support are you willing to give?

For Career Agents:

Q-1. Are you performing well?

Q-2. Do you think the managers are giving you much support?

Q-3: Is your working environment is supportive?

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Q-4. What type of support do you need from the company?

Q-5. Do you believe that a training program will help you to improve your performance?

Q-6. Do you have proper knowledge about the last training program you have attended?

Q-7. How effectively you are implementing those learning in your work?
Evaluation of the Program
Interview/Questionnaire

Q-1. DO you understand the program well?

Q-2. In which part do you think change is necessary?

Q-3. Do think the trainers conducted the training effectively?

Q-4 Did you were provided with a comfortable and helping learning environment?

Q-5. Do you believe you can implement the program in practical life?

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Bibliography:

I. Raymond, A. N. (2005). Employee Training and Development. New York:

McGraw-Hill Irwin.

II. April 25, 2008. ALICO: An AIG Company. Retrieved in April 15, 2009, from
http://web.aig.com/UI/ALICO/Country_Splash_Page.html.

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