TABLE OF CONTENTS

Page No.
List of Tables & Illustrations 7
Abbreviations 8
Ee!utive Su""ar# $
C%a&ter '( Intro)u!tion ''
1.1 Theory and concept 11
1.2 Literature Review 15
C%a&ter * (+esear!% "et%o)olog# '7
2.1 Objectives 17
2.2 Limitations 18
2.3 ources o! "ata #o$$ection 18
2.% amp$in& 'rocedure 18
2.5 'rimary "ata #o$$ection 18
2.( Operationa$i)ation o! the *ariab$es 1+
2.7 ,ive 'oint Ratin& ca$e 1+
C%a&ter , ( In)ustr# Profile *-
3.1 Ori&in o! Li!e -nsurance 2.
3.2 Ori&in o! Li!e -nsurance in -ndia 2.
3.3 -ndian -nsurance /ar0et 1 2istory 21
3.% -nsurance /ar0et 1 'resent 22
C%a&ter . ( Co"&an# Profile *,
%.1 Overview o! the company 23
%.2 'romoters 2(
%.3 'roducts 28
%.% 3wards 33
%.5 4oard o! "irectors 37
%.( /ana&ement Team 37
%.7 2ierarchica$ tructure 38
C%a&ter / ( Training in ICICI Pru)ential .-
5.1 Trainin& Objectives in -nsurance sector %.
5.2 Trainin& 'ro&rams !or 3dvisors %.
5.3 -ncentive chemes !or 3dvisors %1
5.% Reasons !or choosin& career in insurance %%
5.5 Reasons !or joinin& -#-#- 'rudentia$ %5
C%a&ter 0 ( Training Co"&onents .0
(.1 Trainin& -nputs 1 *1 %(
(.2 Ro$e o! Trainer 1 *2 %7
(.3 ,aci$ities at venue 1*3 %8
(.% Re$evance to job 1 *% %+
(.5 Overa$$ eva$uation 1 *5 5.

C%a&ter 7 ( Interrelations%i&s a"ong training !o"&onents /'
7.1 #orre$ation matri5 between the variab$es 51
7.2 atis!actory aspects o! trainin& pro&ram 1 *( 5%
7.3 -mprovements su&&ested by respondents 1 *7 5%
C%a&ter 8 1 Con!lusions //
A&&en)i!es /7
+eferen!es 0-

2
LIST OF TABLES
Table No. Title Page No.
1 Ratin& ca$es and their interpretation
1+
2 6' /embership cheme %%
3 ,eedbac0 on Trainin& -nputs
%(
% ,eedbac0 on Ro$e o! Trainer
%7
5 #orre$ation ana$ysis matri5
51
LIST OF ILL2ST+ATIONS
Nu"ber Title Page No.

1 /ission o! -#-#- 'rudentia$
2%
2 e&ments o! -#-#-
2(
3 *a$ue o! Li!e -nsurance
2+
% 2ierarchica$ tructure o! -#-#-
38
3
5 2ierarchica$ tructure o! Trainin&
"epartment 3+
( Reasons !or career in insurance
%5
7 Reasons !or joinin& -#-#- 'rudentia$
%5
8 ,eedbac0 on Trainin& -nputs
%7
+ ,eedbac0 on Ro$e o! Trainer
%8
1. atis!action with !aci$ities at venue
%+
11 ,eedbac0 on re$evance to job
%+
12 ,eedbac0 on overa$$ trainin& pro&ram
5.

ABB+E3IATIONS
3"Rs 3merican "epository Receipts
3T/ 3utomated Te$$er /achines
,"- ,orei&n "irect -nvestment
6' 6rand 'er0s
2",# 2ousin& "eve$opment and ,inance #orporation
2R 2uman Resources
%
-#-#- -ndustria$ #redit and -nvestment #orporation o! -ndia
-R"3 -nsurance Re&u$atory and "eve$opment 3uthority
7* 7oint *entures
/"RT /i$$ion "o$$ar Round Tab$e
/,-s /icro ,inance -nstitutions
8#,/ 8ationa$ toc0 95chan&e #erti!ication
86Os 8on 6overnmenta$ Or&ani)ations
8:9 8ew :or0 toc0 95chan&e
OT # Orienta$ ta!! Trainin& #o$$e&e
E4EC2TI3E S255A+6
This project on ;training effectiveness for advisors in insurance industry has
been underta0en in ICICI Pru)ential7 8#)eraba) an) Se!un)eraba) bran!%es. This
project attempts to understand the objectives o! trainin& pro&rams o! insurance companies. 3
detai$ed study o! the trainin& pro&rams conducted by -#-#- 'rudentia$ !or its !inancia$
advisors has been made. The main objective is to understand the impact o! the trainin&
pro&rams on the per!ormance $eve$s o! the !inancia$ advisors
5
ICICI Pru)ential is current$y 8o.1 private $i!e insurer in the country. -t has
one o! the $ar&est distribution networ0s amon&st private $i!e insurers in the country. This has
&enerated curiosity in me to 0now how !ar trainin& pro&rams have improved the emp$oyee<s
job per!ormance. 3n attempt has been made to understand the e!!ectiveness o! trainin&
pro&rams at entry $eve$= i.e.= !or advisors has been made here. ,or= the advisor> a&ent are the
pub$ic !ace o! the insurance company and ma0e the most endurin& impact on the customer.
The study invo$ved both &ri"ar# and se!on)ar# sources !or co$$ectin&
in!ormation. The secondary sources inc$ude company<s website= boo0s= journa$s= insurance
ma&a)ines= 2R reviews= artic$es on internet etc.The primary data was co$$ected with the he$p
o! a stru!ture) 9uestionnaire administered to */ advisors who were se$ected throu&h
si"&le ran)o" sa"&ling techni?ue.
The data has been ana$y)ed by assi&nin& scores to the responses &iven by the
advisors and with the he$p o! a corre$ation matri5 between di!!erent variab$es= the conc$usions
have been arrived at. The observations made durin& the data ana$ysis have been represented
with the he$p o! pie charts and bar dia&rams.
,ina$$y= the conc$usion part discusses about the major !indin&s o! the study and
the various measures to be ta0en by the -#-#- 'rudentia$ to improve its trainin& pro&rams !or
advisors. The advisors were not satis!ied with the duration o! the trainin& pro&ram since they
were a$ready in re&u$ar emp$oyment with some or the other company. They wanted the
timin&s to be re 1 schedu$ed. 2owever= -#-#- 'rudentia$ has been ta0in& care to ta0e note o!
such prob$ems and constant$y tryin& to update the 0now$ed&e and s0i$$s o! the advisors.
(
C8APTE+ '
INT+O:2CTION
'.' T%eor# an) Con!e&t
;It is our people who make the difference where it matters most<=
@Tesco 2..2A
7
;This is a global success story made possible by the quality and determination
of over 100,000 people worldwide.B @*oda!one 2..2A
we believe that competitive advantage is achieved through our people
@Ce$$o&& 2..2A
9very or&ani)ation re?uires competent emp$oyees !or the success!u$
!unctionin& o! its various departments. To ensure that the sta!! wor0s e!!icient$y and
e!!ective$y= the or&ani)ation has to continuous$y eva$uate their per!ormance and brid&e any
per!ormance &aps by providin& appropriate trainin& to them. ,or= it is the peop$e who Dmake
or mar an or&ani)ation.
Traditiona$$y= the trainin& po$icy in an or&ani)ation !ocused on enhancin& the
productivity and e!!ectiveness o! the emp$oyees so that the medium term and $on& term
strate&ies o! the or&ani)ation cou$d be success!u$$y !u$!i$$ed. ince up &radation o! s0i$$s and
0now$ed&e has direct re$evance to per!ormance= trainin& po$icy ti$$ date was desired to have
$in0a&es with other 2R systems and po$icies $i0e per!ormance appraisa$= career p$annin&=
rewards and promotion as decided by the mana&ement.
Eith the usherin& in o! 6$oba$i)ation and Libera$i)ation since ear$y 1++.s=
there has been a sea chan&e in our business processes= and our corporate practices !orcin&
or&ani)ations to mou$d themse$ves to the new era o! competition= where they have to compete
8
not at $oca$ or nationa$ $eve$ but at internationa$ $eve$. This necessitates hu&e investments in
the trainin& pro&rams !or providin& the re?uisite s0i$$ set to the sta!!.
The u$timate aim o! any trainin& pro&ram is to achieveF
- #ontinuous -mprovement
- #han&eGinG3ttitude
- #ost avin&
- Tota$ 'roductivity
G cope !or deve$opment
Ehen or&ani)ation has invested in some trainin&= how do we 0now i! it has a
successH Our &ut !ee$in& mi&ht be that s0i$$s and practice have improved. 4ut in what ways
and by how much has it improved= and did or&ani)ation &et va$ue o! moneyH 3nswers to
these ?uestions can be !ound by doin& eva$uation.
The eva$uation o! trainin& !orms the remainin& part o! the trainin& cyc$e which
starts with the identi!ication o! trainin& needs= estab$ishin& objectives and continues throu&h
to the desi&n and de$ivery o! the trainin& course itse$!.
-t is the !unction o! eva$uation to assess whether the $earnin& objectives
ori&ina$$y identi!ied have been satis!ied and any de!iciency recti!ied. -t is part o! a continuin&
mana&ement process consistin& o! p$annin&= imp$ementation and eva$uationI idea$$y with
each !o$$owin& the other in a continuous cyc$e unti$ success!u$ comp$etion o! the activity.
+
9va$uation process must start be!ore trainin& has be&un and continue throu&hout the who$e
$earnin& process.
:onal) >ir?&atri!? deve$oped !our $eve$ mode$s to assess trainin&
e!!ectiveness. 3ccordin& to him= eva$uation a$ways be&ins with $eve$ !irst and shou$d move
throu&h other $eve$s in se?uence.
+ea!tion LevelF The purpose is to measure the individua$<s reaction to the trainin&
activity. The bene!it o! Reaction $eve$ eva$uation is to improve Trainin& and "eve$opment
activity e!!iciency and e!!ectiveness.
Learning LevelF The basic purpose is to measure the $earnin& trans!er achieved by
the trainin& and deve$opment activity. 3nother purpose is to determine to what e5tent the
individua$ increased their 0now$ed&e= s0i$$s and chan&ed their attitudes by app$yin&
?uantitative or ?ua$itative assessment methods.
Be%avior LevelF The basic purpose is to measure chan&es in behavior o! the
individua$ as a resu$t o! the trainin& and deve$opment activity and how we$$ the enhancement
o! 0now$ed&e= s0i$$= attitudes has prepared them !or their ro$e.
+esult LevelF The purpose is to measure the contribution o! trainin& and deve$opment
to the achievement o! the business>operationa$ &oa$s.

There are three possib$e opportunities to underta0e an eva$uationF
Pre Training EvaluationF it is a method o! jud&in& the worth o! a pro&ram be!ore
the pro&ram activities be&in. The objective o! this eva$uation is @aA To determine the
1.
appropriateness o! the conte5t o! trainin& activity and @bA To he$p in de!inin& re$evant
trainin& objectives.
Contet an) In&ut EvaluationF is a method o! jud&in& the worth o! a pro&ram whi$e
the pro&ram activities are happenin&. The objectives o! this eva$uation are @aA To assess a
trainin& course or wor0shop as it pro&ress @bA To !ind out the e5tent o! pro&ram
imp$ementation and @cA To determine improvement and adjustments needed to attain the
trainin& objectives.
Post Training EvaluationF is method o! jud&in& the worth o! a pro&ram at the end o!
the pro&ram activities. The !ocus is on the outcome. -t tries to jud&e whether the trans!er o!
trainin& to the job has ta0en p$ace or not.
The onus to decide on the e!!ectiveness o! the trainin& pro&ram shou$d
primari$y be on the emp$oyee and throu&h his per!ormance and ?ua$ity o! output= the
or&ani)ation shou$d !orm impressions. The emp$oyee under&oin& trainin& there!ore shou$d
demonstrate the additiona$ s0i$$s and competence at his wor0p$ace to enab$e the or&ani)ation
to va$ue it and to rea$i)e the va$ue such e!!orts add to the or&ani)ation in achievin& its &oa$s
and objectives and to !rame and practice re$evant 2R po$icies and processes.
'.* Literature +evie@
11
3s customer re$ationship p$ays a major ro$e in the insurance business=
ade?uate trainin& has to be provided to the emp$oyees to understand the customer needs and
communicate the suitab$e product detai$s accordin& to their re?uirements. 3 company wi$$ be
success!u$ i! the intermediaries interactin& with the customers have a sound 0now$ed&e o! the
products avai$ab$e and are ab$e to convey the same to the end users.
-nsurance e5pert :ale S Bea!% de!ined trainin& as ;the or&ani)ed procedure
by which the emp$oyees $earn 0now$ed&e and s0i$$s !or a de!inite purpose.B The or&ani)ation
has to conduct trainin& pro&rams to educate the sta!! about the various products avai$ab$e= to
improve their communication s0i$$s and a$so to e?uip them to hand$e di!!erent types o!
customers.
Libera$i)ation and privati)ation o! the insurance sector have resu$ted in a
competitive mar0et. -nsurance companies re?uire smart and s0i$$ed personne$ to compete
with their riva$s in the mar0et. The companies shou$d impart necessary 0now$ed&e and s0i$$s
to the emp$oyees by conductin& trainin& pro&rams= seminars= con!erences and wor0shops.
The 8:FC Stan)ar) Life Insuran!e Co"&an# imparts 0now$ed&e on insurance and other
re$ated business process throu&h /ana&ement Trainees 'ro&ram. The Orienta$ ta!! Trainin&
#o$$e&e @ OT# A is the trainin& center !or Oriental Insuran!e Co"&an#.
3s a part o! onGtheGjob trainin&= companies are tyin& with trainin& institutions
to up&rade the emp$oyee 0now$ed&e on the $atest techno$o&y and nove$ techni?ues in the
industry to improve his per!ormance. tron& academiaGindustry partnerships are a$so
witnessed. 2nite) In)ia Insuran!e Co"&an# in partnership with "r. 3mbed0ar Law
Jniversity in Tami$ 8adu provides a post &raduate dip$oma course in &enera$ insurance $aw
and practice. 3 survey revea$s that the trainin& sensitivity amon& the private insurers stands
at 3 on the sca$e o! . to 5= where . represents not sensitive and 5 represents hi&h$y sensitive.
12
3 study o! the -ndian insurance sector by 5!>inse# & Co.= the &$oba$
consu$tancy !irm= says a mere 25G3.K o! the $i!e insurance a&ents have the acceptab$e $eve$ o!
trainin& and sa$es standards set by their companies. The study !urther says there is not much
to di!!erentiate between those advisors who have spent more than two years in a company and
new recruits without any sa$es e5perience. "e!inite$y= this is a sad re!$ection on the ?ua$ity o!
trainin& imparted to the a&entsLLLL
The !ocus o! the trainin& durin& the $ast decade has shi!ted !rom Dtrainin& !or
surviva$< to Dtrainin& !or success<. Trainin&= there!ore= has to serve as a vehic$e !or chan&e. To
satis!y the curiosity o! a&ents= the !acu$ty members wi$$ have to become rea$ coaches and not
mere cheer$eaders. The trainin& system has to deve$op win&s to !$y towards &reater
hei&hts. 3$$ this is possib$e on$y when the or&ani)ations eva$uate the e!!ectiveness o! the
e5istin& trainin& pro&rams on per!ormance improvement o! the emp$oyees and therea!ter
ma0e suitab$e chan&es in the trainin& po$icy to brid&e the per!ormance &aps in the emp$oyees.
13
C8APTE+ *
+ESEA+C8 5ET8O:OLOA6
*.' ObBe!tives
The primary objective o! the study is to ana$y)e the e!!ectiveness o! trainin&
pro&rams conducted !or advisors in terms o! their per!ormance with specia$ emphasis on
-#-#- 'rudentia$. The scope o! the study encompasses 1
To understand the objectives o! the trainin& pro&rams o! insurance companies.
To study the content and methodo$o&y o! -#-#- 'rudentia$<s trainin& pro&rams !or
advisors.
To ana$y)e trainees !eedbac0 on the trainin& pro&rams
To recommend !easib$e improvements in the trainin& pro&rams conducted by -#-#-
'rudentia$ !or advisors
*.* Li"itations
The study is con!ined to -#-#- 'rudentia$= 2yderabad branch on$y
amp$in& errors mi&ht have occurred
There was a di!!icu$ty in &ettin& responses !rom the advisors as some o! them re!used
to respond ma0in& e5cuse o! $ac0 o! time
The responses o! the advisors may not be &enuine.
The ?uestions inc$uded in the ?uestionnaire may not be comprehensive.
1%
*., Sour!es of :ata Colle!tion
The re$evant data was co$$ected !rom both &ri"ar# sour!es and se!on)ar# sour!es. The
startin& point o! my in!ormation &atherin& has been the secondary sources such as internet=
boo0s= journa$s and so on .
,irst= - made a study o! the trainin& objectives o! the insurance companies to train its
personne$ throu&h secondary sources such as internet= insurance ma&a)ines= and journa$s and
so on. Then - &athered in!ormation about the trainin& pro&rams conducted !or advisors by
-#-#- 'rudentia$ by interactin& with some o! the advisors a$ready wor0in& !or the company.
*.. Sa"&ling Pro!e)ure
3 samp$e o! 25 advisors is se$ected !or the study= usin& si"&le ran)o" sa"&ling
&ro!e)ure. The !ocus o! study was on advisors who were trained in the recent past. o= the
samp$e was drawn !rom amon& the advisors who were wor0in& !or -#-#- 'rudentia$ since
$ast 1 1 2 months.
*./ Pri"ar# :ata Colle!tion
"ata was co$$ected throu&h an interview schedu$e= consistin& o! both o&en en)e) an) !lose)
en)e) 9uestions. The schedu$e covered parameters $i0e trainin& methodo$o&y= trainer
!eedbac0= overa$$ e!!ectiveness o! trainin& pro&ram= re$evance o! trainin& pro&ram etc. /ost
o! the interviews were conducted over te$ephones since these advisors need not report to any
branch re&u$ar$y. /ost o! the times= they were !ound to be in the !ie$d searchin& !or
prospective customers. The appro5imate time ta0en !or each interview was 1. minutes
15
*.0 O&erationaliCation of 3ariables
3$$ the variab$es were &rouped into 7 cate&ories and assi&ned symbo$s as !o$$owsF
3' 1 trainin& inputs= 3* 1 ro$e o! trainer = 3,G !aci$ities at venue= 3.G re$evance o! trainin&
pro&ram !or job= 3/G overa$$ eva$uation o! trainin& pro&ram= 30G most satis!actory aspects o!
trainin& pro&ram= 37G improvements su&&ested by respondents.
*.7 Five Point +ating S!ale
The ratin&s that the respondents had to assi&n !or di!!erent variab$es @*1= *2= *3= *%= *5A
are cate&ori)ed as !o$$owsF
Table 'D +ating S!ales an) inter&retation
+atings Inter&retation
' 'oor= 8ot at a$$ re$evant= 8o
* 4e$ow avera&e= 8ot that much re$evant= :es
, 3vera&e= 8ot sure
. 3bove avera&e= Re$evant
/ 95ce$$ent= 2i&h$y re$evant
1(
C8APTE+ ,
IN:2ST+6 P+OFILE
,.' Origin of Life Insuran!e
Li!e insurance was born in 9n&$and when the !irst po$icy providin& temporary
cover !or a period o! 12 months was issued as ear$y as 1583 3.". The 3micab$e ociety
started &rantin& !$uctuatin& sum on death since 17.5 and a !i5ed sum since 1757. Eith the
deve$opment o! morta$ity tab$es= $i!e insurance ac?uired a scienti!ic character. The 9?uitab$e
ociety !ounded in 17(2 was the !irst society estab$ished on scienti!ic basis.
,.* Origin of Life Insuran!e in In)ia
-n -ndia= a!ter the !ai$ure o! 2 4ritish companies= the 9uropean and the 3$bert
in 187.= which attempted writin& business on -ndian $ives= !irst -ndian $i!e assurance
company was !ormed in the same year ca$$ed 4ombay /utua$ 3ssurance ociety Ltd. -t was
!o$$owed by Oriental life assuran!e Co"&an# li"ite) in 187%= B%arat in 18+( and E"&ire
of In)ia in 18+7. The idea o! insurance was born out o! a desire o! the peop$e to share the
$oss o! an individua$ by many.
Ori&ina$$y= it was restricted to other !orms o! $i!e insurance. -t started with
marine insurance where the $osses on account o! peri$s o! the sea were shared by a$$ who
were en&a&ed in trade. Re!erences to some !orms o! insurance have been !ound in the codes
o! 2ammurabi /anu.
17
The wadeshi movement o! 1+.5 provided impetus to the !ormation o! severa$
companies such as the ;2industan #ooperativeB= the DJnited -ndia<= the D4ombay $i!e<= the
D8ationa$<. ,urther in the wa0e o! !reedom movement= number o! companies such as the
D8ew -ndia<= the D7upiter<= and the DLa0shmi< emer&ed.
The &overnment be&an to e5ercise certain measure o! contro$ on insurance
business by passin& D-nsurance 3ct< in 1+12. -n order to contro$ the investment o! !unds=
e5penditure and mana&ement= a comprehensive 3ct was passed 0nown as D-nsurance 3ct
1+38<. To contro$ the a!!airs= the o!!ice o! contro$$er o! insurance was estab$ished. The 3ct
was amended e5tensive$y in 1+5..
,., In)ian Insuran!e 5ar?et 1 8istor#
-nsurance has a $on& history in -ndia. Li!e insurance in its current !orm was introduced in
1818 when Orienta$ Li!e -nsurance #ompany be&an its operations in -ndia. 6enera$ insurance
was however a $ate entrant in 185. when Triton insurance company set up its base in
Co$0ata.
2istory o! insurance in -ndia can be bi!urcated into 3 erasF
aA 're 8ationa$i)ation bA 8ationa$i)ation cA 'ost 8ationa$i)ation
Li!e insurance was the !irst to be nationa$i)ed in 1+5(. Li!e -nsurance
#orporation o! -ndia was !ormed by conso$idatin& the operations o! various $i!e insurance
companies. 6enera$ -nsurance !o$$owed suit and was nationa$i)ed in 1+73. 6enera$ -nsurance
#orporation o! -ndia was set up as the contro$$in& body with 8ew -ndia= Jnited -ndia=
8ationa$ and Orienta$ as its subsidiaries. The process o! openin& up o! the insurance sector
18
was initiated a&ainst the bac0&round o! 9conomic Re!orm 'rocess which commenced !rom
1++1. ,or this purpose= /a$hotra #ommittee was !ormed which submitted report in 1++% and
-nsurance Re&u$atory "eve$opment 3ct @-R"3A was passed in 1+++. ubse?uent$y= -ndian
-nsurance was opened !or private companies which be&an operations since 2..1.
,.. In)ian Insuran!e 5ar?et 1 8istor#
,or years now= private p$ayers have been active in the $ibera$i)ed environment.
The insurance mar0et has witnessed dynamic chan&es which inc$ude presence o! a !air$y
$ar&e number o! insurers both $i!e and non $i!e se&ment. /ost o! the private insurance
companies have !ormed joint venture partnerin& we$$ reco&ni)ed !orei&n p$ayers across the
&$obe.
There are now *$ insurance companies operatin& in the -ndian mar0et 1 '/
&rivate life insurers7 $ &rivate non(life insurers an) 0 &ubli! se!tor !o"&anies @see
3ppendi5A. Eith many more joint ventures in the o!!in&= the insurance industry in -ndia today
stands at cross roads as competition intensi!ies and companies prepare surviva$ strate&ies in a
deGtari!!ed scenario. There is pressure !rom both within the country and outside on the
6overnment to increase the ,orei&n "irect -nvestment @,"-A $imit !rom the current 2(K to
%+K which wou$d he$p 7* partners to brin& in !unds !or e5pansion.
1+
C8APTE+ .
CO5PAN6 P+OFILE
..' Overvie@ of ICICI Pru)ential
ICICI Pru)ential Life Insuran!e Co"&an# is a joint venture between
ICICI Ban? G one o! -ndiaMs !oremost !inancia$ services companiesGand Pru)ential &l! G a
$eadin& internationa$ !inancia$ services &roup head?uartered in the Jnited Cin&dom. Tota$
capita$ in!usion stands at Rs. 37.72 bi$$ion= with -#-#- 4an0 ho$din& a sta0e o! 7%K and
'rudentia$ p$c ho$din& 2(K.
The company be&an its operations in "ecember 2... a!ter receivin& approva$
!rom -nsurance Re&u$atory "eve$opment 3uthority @-R"3A. Today= their nationGwide team
comprises o! over +55 branches in addition to 1=.33 microGo!!ices= over 2(1=... advisorsI
and 2. banc assurance partners.
-#-#- 'rudentia$ was the !irst $i!e insurer in -ndia to receive a 8ationa$ -nsurer
,inancia$ tren&th ratin& o! 333 @-ndA !rom ,itch ratin&s. ,or three years in a row= -#-#-
'rudentia$ has been voted as In)iaEs 5ost Truste) Private Life Insurer= by The 9conomic
Times G 3# 8ie$sen OR6 /ar& survey o! M/ost Trusted 4randsM. 3s the company widens its
distribution= product ran&e and customer base= it continues to tire$ess$y upho$d its
commitment to de$iver wor$dGc$ass !inancia$ so$utions to customers a$$ over -ndia.
2.
Figure 'D 5ission of ICICI Pru)ential
ICICI Pru)ential Life is all about<<
The success o! the company wi$$ be !ounded in its un!$inchin& commitment to
5 core va$ues GG Integrit#7 Custo"er First7 Boun)ar# less7 O@ners%i& an) Passion. 9ach
o! the va$ues describes what the company stands !or= the ?ua$ities o! peop$e and the way they
wor0.
#ompany be$ieves that it is on the thresho$d o! an e5citin& new opportunity=
where it can p$ay a si&ni!icant ro$e in rede!inin& and reshapin& the sector. 6iven the ?ua$ity
o! parenta&e and the commitment o! its team= there are no $imits to its &rowth.
21
Tota$
'rotectio
n
Life
We cover you at
every step in Life
W
e
a
l
t
h
H
e
a
l
t
h
The 3ISION o! the company is
To make the company the dominant !ife and "ensions player built on trust by world#
class people and service$
The company proposes to achieve its vision byF
Jnderstandin& the nee)s of t%e !usto"ers and o!!erin& them superior
products and services.
Levera&in& te!%nolog# to service customers ?uic0$y= e!!icient$y and
convenient$y.
"eve$opin& and imp$ementin& superior ris? "anage"ent an) invest"ent
strategies to o!!er sustainab$e and stab$e returns to the po$icy ho$ders.
'rovidin& and enab$in& environment to foster gro@t% an) learning for t%e
e"&lo#ees.
4ui$din& trans&aren!# in a$$ dea$in&s.
9very member o! the -#-#- 'rudentia$ team is committed to / !ore valuesF
Integrit#7 Custo"er First7 Boun)ar#less7 O@ners%i&7 an) Passion. These va$ues shine
!orth in a$$ they do= and have become the 0eystones o! company<s success.
22
..* Pro"oters
ICICI Ban?
T%e Forl) Ban?7 Aovern"ent of In)ia an) re&resentatives of t%e &rivate
se!tor foun)e) ICICI in '$// to en!ourage an) assist in)ustrial )evelo&"ent
an) invest"ent in In)ia. -#-#- 4an0 is -ndia<s secondG$ar&est ban0 with tota$
assets o! about Rs.112= .2% #rore and a networ0 o! about %5. branches and o!!ices
and about 175. 3T/s. -t o!!ers a wide ran&e o! ban0in& products and !inancia$
services to corporate and retai$ customers throu&h a variety o! de$ivery channe$s and
throu&h its specia$i)ed subsidiaries and a!!i$iates in the areas o! investment ban0in&=
$i!e and nonG$i!e insurance= venture capita$= asset mana&ement and in!ormation
techno$o&y. -#-#- 4an0 posted a net pro!it o! Rs.1(37 #rore !or the year ended
/arch 31= 2..%. -#-#- 4an0<s e?uity shares are $isted in -ndia on stoc0 e5chan&es at
#hennai= "e$hi= Co$0ata and *adodara= the toc0 95chan&e= /umbai and the
8ationa$ toc0 95chan&e o! -ndia Limited and its 3merican "epositary Receipts
@3"RsA are $isted on the 8ew :or0 toc0 95chan&e @8:9A. The *arious se&ment
o! -#-#- are
Figure *D Seg"ents of ICICI


23
Pru)ential Pl!
9stab$ished in London in 18%8= 'rudentia$ p$c= throu&h its businesses in the JC and 9urope=
the J and 3sia= provides retai$ !inancia$ services products and services to more
than 1( mi$$ion customers= po$icyho$der and unit ho$ders wor$dwide. 3s o! 7une 3.=
2..%= the company had over JN3.. bi$$ion in !unds under mana&ement. 'rudentia$
has brou&ht to mar0et an inte&rated ran&e o! !inancia$ services products that now
inc$udes $i!e assurance= pensions= mutua$ !unds= ban0in&= investment mana&ement
and &enera$ insurance. -n 3sia= 'rudentia$ is the $eadin& 9uropean $i!e insurance
company with a vast networ0 o! 2% $i!e and mutua$ !und operations in twe$ve
countries G #hina= 2on& Con&= -ndia= -ndonesia= 7apan= Corea= /a$aysia= the
'hi$ippines= in&apore= Taiwan= Thai$and and *ietnam.
The company has si5 Ban!assuran!e tie(u&s= havin& a&reements with -#-#-
4an0= ,edera$ 4an0= outh -ndian 4an0= 4an0 o! -ndia= Lord Crishna 4an0 and some coG
operative ban0s= as we$$ as over 15. corporate a&ents and bro0ers. -t has a$so tied up with
86Os= /,-s and corporates !or the distribution o! rura$ po$icies and or&ani)ations $i0e "han
!or distribution o! a$aam Oinda&i= a po$icy !or the socia$$y and economica$$y underprivi$e&ed
sections o! society.
-#-#- 'rudentia$ has recruited and trained about *7'.7--- insuran!e a)visors
to inter!ace with and advise customers. ,urther= it $evera&es its stateGo!GtheGart -T
in!rastructure to provide superior ?ua$ity o! service to customers.
2%
Figure * D 3alue of Life Insuran!e

.., Pro)u!ts
Insuran!e Solutions for In)ivi)uals
-#-#- 'rudentia$ Li!e -nsurance o!!ers a ran&e o! innovative= customerGcentric
products that meet the needs o! customers at every $i!e sta&e. -ts 27 products can be enhanced
with up to ( riders= to create a customi)ed so$ution !or each po$icyho$der.
Savings Solutions
%ecure"lus is a transparent and !eatureGpac0ed savin&s p$an that o!!ers 3 $eve$s o!
protection.
25
&ash "lus is a transparent= !eatureGpac0ed savin&s p$an that o!!ers 3 $eve$s o!
protection as we$$ as $i?uidity options.
%ave n "rotect is a traditiona$ endowment savin&s p$an that o!!ers $i!e protection
a$on& with ade?uate returns.
&ash 'ank is an anticipated endowment po$icy idea$ !or meetin& mi$estone e5penses
$i0e a chi$d<s marria&e= e5penses !or a chi$d<s hi&her education or purchase o! an asset.
!ifeTime ( !ifeTime II o!!er customers the !$e5ibi$ity and contro$ to customi)e the
po$icy to meet the chan&in& needs at di!!erent $i!e sta&es. 9ach o!!er % !und optionsG
'reserver= 'rotector= 4a$ancer and /a5imiser.
!ife!ink II is a sin&$e premium /ar0et Lin0ed -nsurance '$an which combines $i!e
insurance cover with the opportunity to stay invested in the stoc0 mar0et.
"remier !ife is a $imited premium payin& p$an that o!!ers customers $i!e insurance
cover ti$$ the a&e o! 75.
Invest%hield !ife is a /ar0et Lin0ed p$an that provides capita$ &uarantee on the
invested premiums and dec$ared bonus interest.
Invest%hield &ash is a /ar0et Lin0ed p$an that provides capita$ &uarantee on the
invested premiums and dec$ared bonus interest a$on& with !$e5ib$e $i?uidity options.
Invest%hield )old is a /ar0et Lin0ed p$an that provides capita$ &uarantee on the
invested premiums and dec$ared bonus interest a$on& with $imited premium payment
terms.
2(
Prote!tion Solutions
!ifeguard is a protection p$an= which o!!ers $i!e cover at very $ow cost. -t is avai$ab$e
in 3 optionsG $eve$ term assurance= $eve$ term assurance with return o! premium and
sin&$e premium.
C%il) Plans
%mart*id education p$ans provide &uaranteed educationa$ bene!its to a chi$d a$on&
with $i!e insurance cover !or the parent who purchases the po$icy. The po$icy is
desi&ned to provide money at important mi$estones in the chi$d<s $i!e. martCid p$ans
are a$so avai$ab$e in unitG$in0ed !ormG both sin&$e premium and re&u$ar premium.
+etire"ent Solutions
+orever !ife is a retirement product tar&eted at individua$s in their thirties.
%ecure"lus "ension is a !$e5ib$e pension p$an that a$$ows one to se$ect between 3
$eve$s o! cover.
5ar?et(lin?e) retire"ent &ro)u!ts
!ifeTime "ension II is a re&u$ar premium mar0etG$in0ed pension p$an
!ife !ink "ension II is a sin&$e premium mar0etG$in0ed pension p$an.
Invest %hield "ension is a re&u$ar premium pension p$an with a capita$ &uarantee on
the investib$e premium and dec$ared bonuses.
-#-#- 'rudentia$ a$so $aunchedG a$aam Gin)agi= a socia$ sector &roup insurance po$icy
tar&eted at the economica$$y underprivi$e&ed sections o! the society.
27
Arou& Insuran!e Solutions
-#-#- 'rudentia$ a$so o!!ers 6roup -nsurance o$utions !or companies see0in& to enhance
bene!its to their emp$oyees.
ICICI Pru Arou& Aratuit# PlanD -#-#- 'ru<s &roup &ratuity p$an he$ps emp$oyers
!und their statutory &ratuity ob$i&ation in a scienti!ic manner. The p$an can a$so be
customi)ed to structure schemes that can provide bene!its beyond the statutory
ob$i&ations.
ICICI Pru Arou& Su&erannuation PlanD -#-#- 'ru o!!ers a !$e5ib$e de!ined
contribution superannuation scheme to provide a retirement 0itty !or each member o!
the &roup. 9mp$oyees have the option o! choosin& !rom various annuity options or
optin& !or a partia$ commutation o! the annuity at the time o! retirement.
ICICI Pru Arou& Ter" PlanD -#-#- 'ru<s !$e5ib$e &roup term so$ution he$ps provide
a!!ordab$e cover to members o! a &roup. The cover cou$d be uni!orm or based on
desi&nation>ran0 or a mu$tip$e o! sa$ary. The bene!it under the po$icy is paid to the
bene!iciary nominated by the member on his>her death.
Fleible +i)er O&tions
-#-#- 'ru Li!e o!!ers !$e5ib$e riders= which can be added to the basic po$icy at a mar&ina$
cost= dependin& on the speci!ic needs o! the customer.
A!!i)ent & )isabilit# benefitD -! death occurs as the resu$t o! an accident durin& the
term o! the po$icy= the bene!iciary receives an additiona$ amount e?ua$ to the sum
assured under the po$icy. -! the death occurs whi$e trave$in& in an authori)ed mass
28
transport vehic$e= the bene!iciary wi$$ be entit$ed to twice the sum assured as
additiona$ bene!it.
A!!i)ent BenefitD This rider option pays the sum assured under the rider on death due
to accident.
Criti!al Illness BenefitD protects the insured a&ainst !inancia$ $oss in the event o! +
speci!ied critica$ i$$nesses. 4ene!its are payab$e to the insured !or medica$ e5penses
prior to death.
5aBor Surgi!al Assistan!e BenefitD provides !inancia$ support in the event o!
medica$ emer&encies= ensurin& bene!its are payab$e to the $i!e assured !or medica$
e5penses incurred !or sur&ica$ procedures. #over is o!!ered a&ainst %3 sur&ica$
procedures.
In!o"e BenefitD This rider pays the 1.K o! the sum assured to the nominee every
year= ti$$ maturity= in the event o! the death o! the $i!e assured. -t is avai$ab$e on
martCid= ecure'$us and #ash '$us
Faiver of Pre"iu"D -n case o! tota$ and permanent disabi$ity due to an accident= the
premiums are waived ti$$ maturity. This rider is avai$ab$e with ecure'$us and #ash
'$us.
>e#"an Insuran!e Plans
3 0eyman is an individua$ who direct$y a!!ects the pro!itabi$ity and the continuity o! a
business and whose absence may have an adverse e!!ect on the hea$th and continuity o! the
business. Ceyman insurance is a $i!e insurance po$icy ta0en by the company on the $i!e o!
such a 0ey person.
2+
The objective o! the Ceyman insurance is to provide the company with money
so that the !inancia$ $osses to the company can be protected= in absence o! the Ceyman. The
aim is to indemni!y the company o! these $osses and to a$$ow business continuity.
3$$ premiums paid !or securin& a Ceyman $i!e insurance po$icy are treated as
business e5penditure u>s 37 @1A.
+ural Plans
-#-#- 'ruLi!e Rura$ 'roducts are desi&ned to meet the needs o! the rura$ consumers. These
products o!!er the !o$$owin& !eaturesF
1. Low and 3!!ordab$e 'remiums
2. Li!e #over
3. avin&s Option
%. 2ass$e !ree procedure.
5utual Fun)s
3 /utua$ ,und is a trust that poo$s the savin&s o! a number o! investors who share a common
!inancia$ &oa$. The money thus co$$ected is then invested in capita$ mar0et instruments such
as shares= debentures and other securities. The income earned throu&h these investments and
the capita$ appreciations rea$i)ed are shared by its unit ho$ders in proportion to the number o!
units owned by them.
3.
... A@ar)s
-#-#- 'rudentia$ Li!e won the -#-#- 6roup /ar0etin& 95ce$$ence 3ward 2..8 in three 0ey
cate&ories !or its mar0etin& initiatives
-#-#- 'rudentia$ Li!e was awarded the -8":<s 3ward !or 95ce$$ence in /ass
#ommunication in the cate&ory o! /ost #reative 3dvertisementGTe$evision
31

In)iaEs 5ost Custo"er +es&onsive Insuran!e Co"&an#
3vaya 6$oba$ #onnect G 9conomic Times #ustomer Responsiveness 3wards= 2..7

/s. hi0ha harma= /" P #9O= -#-#- 'rudentia$ Li!e -nsurance was adjud&ed the
9ntrepreneur o! the :earG/ana&er at the 9rnst and :oun& 9ntrepreneur 3wards 2..7
/s. hi0ha harma= /" P #9O= -#-#- 'rudentia$ Li!e -nsurance was awarded the
Outstandin& 4usinesswoman o! the :ear at #84# T*18Ms -ndia 4usiness Leader 3wards
2..7
32
-#-#- 'rudentia$ Li!e -nsurance won the award !or the 4est Li!e -nsurerGRunner up at the
Out$oo0 /oney P 8"T* 'ro!it 3wards 2..7
-#-#- 'rudentia$ Li!e<s= retirement so$utions campai&n !or the year 2..(G.7 was awarded the
4ron)e 9!!y trophy in the services cate&ory.-t a$so won the 4rand 9?uity 4ravery 3ward
2..7= instituted by 3d c$ub.

-#-#- 'rudentia$ Li!e<s website= www.icicipru$i!e.com was awarded the best @ebsite amon&
private $i!e insurers at the Eeb 18 and ,rost P u$$ivan 6enius o! the Eeb 3wards 2..7 !or
commendab$e wor0 in the on$ine.
33
../ Boar) of :ire!tors
The -#-#- 'rudentia$ Li!e -nsurance #ompany Limited 4oard comprises reputed peop$e !rom
the !inance industry both !rom -ndia and abroad.
5r. >.3. >a"at%7 #hairman
5s. >al&ana 5or&aria7 *ice #hairperson
5s. C%an)a >o!%%ar7 "irector
5r. Barr# Sto@e7 "irector
5r. 8.T. P%ong7 "irector
Prof. 5arti A. Subra%"an#a"7 "irector
5r. 5a%es% Prasa) 5o)i7 "irector
5s. +a"a BiBa&ur?ar7 "irector
5r. >e?i :a)iset%7 "irector
5s. S%i?%a S%ar"a7 /ana&in& "irector
5r. N.S. >annan7 95ecutive "irector
5r. B%argav :asgu&ta7 95ecutive "irector
..0 5anage"ent Tea"
The -#-#- 'rudentia$ Li!e -nsurance #ompany Limited /ana&ement team comprises reputed
peop$e !rom the !inance industry both !rom -ndia and abroad.
5s. S%i?%a S%ar"a7 /ana&in& "irector P #9O
5r. N. S. >annan7 95ecutive "irector
5r. B%argav :asgu&ta7 95ecutive "irector
5s. Anita Pai7 95ecutive *ice 'resident 1 #ustomer ervice P Techno$o&y
:r. AviBit C%atterBee7 3ppointed 3ctuary
5r. Puneet Nan)a7 95ecutive *ice 'resident P #hie! -nvestment O!!icer
3%
..7 8ierar!%i!al Stru!ture of ICICI Pru)ential
8#)eraba) an) Se!un)eraba) bran!%es
Figure . D
Tie) Agen!# is the $ar&est distribution channe$ o! -#-#- 'rudentia$= comprisin& a
$ar&e advisor !orce that tar&ets various customer se&ments. The stren&th o! tied a&ency $ies in
an a&&ressive strate&y o! e5pandin& and procurin& ?ua$ity business. Eith !ocus on sa$es P
peop$e deve$opment= tied a&ency has emer&ed as a robust= predictab$e and sustainab$e
business mode$.
-n 2yderabad and ecunderabad = there are 0 bran!%es an) / s&o?es. -n
each branch= there wi$$ be around 1. unit mana&ers= 2 assistant sa$es mana&ers and 1 sa$es
mana&er.
35
Branch sales manager
Sales manager
(1)
Assistant sales
manager
(2)
Unit manager
(10)
Advisors
(20-30)
6enera$$y the advisors wor0s under the $eadership o! unit mana&er= who
motivate them in every step by providin& trainin& and &uidance to them= usua$$y each unit
mana&er have 2. to 3. advisors under them.
Figure /D 8ierar!%# Stru!ture of Training :e&art"ent
3(
Training Head
Training Managers
Associate training
manager
(2)
Branch manager
Consultant Trainers
(Freelancers)
C8APTE+ /
T+AININA AT ICICI P+2:ENTIAL
One o! the objectives o! the present study is to understand the objectives o! trainin& pro&rams
!or advisors in insurance industry in &enera$ and then to ma0e a study o! the trainin& pro&ram
conducted in -#-#- 'rudentia$.
/.' Training obBe!tives in insuran!e se!tor
-n insurance sector= the need to be we$$ trained assumes &i&antic proportions.
3 uni?ue !eature as re&ards insurance is that it is not mere$y su!!icient to have a proper$y
trained wor0!orceI there is a need to spread the messa&e o! insurance amon& the popu$ace.
The above= to a &reat e5tent= depend on the 0now$ed&e abi$ity o! the distribution personne$ on
account o! the inter!ace that they are re?uired to maintain with a$$ the prospects. The best o!
advertisements and other !orms o! spreadin& messa&e wou$d be no substitute !or a job we$$
done by the intermediary.
The advisor> a&ent are the pub$ic !ace o! the insurance company and ma0e the
most endurin& impact on the customer. The prospective po$icyho$ders today need
pro!essiona$ inputs !rom intermediaries whom they can trust and respect. There!ore= the
undec$ared objective behind trainin& the advisors is their pro!essiona$i)ation= ma0in& them
capab$e o! D&ood< se$$in& and thus u$timate$y bene!ittin& the customer. 8eed ana$ysis= !eatures
and bene!its= objection hand$in& and c$osin& s0i$$s are the 0ey components o! ?ua$ity
insurance sa$es trainin&.
37
The openin& up o! the sector has &iven a boost to the trainin& industry. 3cute
shorta&e o! trained and e5pert pro!essiona$s has spurred the corporate houses to adopt the
strate&y o! tyin& up with educationa$ institutions and overcome the dearth o! s0i$$ed insurance
pro!essiona$s in this hi&h$y competitive mar0et. 3 case in point is ICICI Pru)ential. The
company has joined hands with some trainin&> educationa$ institutions to start customi)ed
courses.
/.* Training Progra" for A)visors
3dvisors are the peop$e who are not the emp$oyees o! the -#-#- prudentia$=
but wor0s as commission a&ents. 4ecomin& an advisor is a part time job o!!er which can be
ta0en up by any person above the a&e o! 18 years and who has passed 12
th
or hi&her
secondary= wherein the person can uti$i)e his>her contacts !or ma0in& a di!!erent hi&h source
o! income. They can be associated either !u$$ time or part time as per their re?uirements.
There are un$imited career paths and opportunities !or income P &rowth !or deservin&
candidates.
The trainin& pro&ram is conducted at a$$ the branches o! the company. 9ach batch
consists o! minimum o! 12 1 17 candidates. The trainin& pro&ram consists o! !o$$owin&
componentsF
CA+EE+ O+IENTATION P+OA+A5 1 . %rs.
The candidates are provided with in!ormation about prospects !or -ndian economy= insurance
industry in &enera$ and -#-#- 'rudentia$ in particu$ar. They are a$so brie!ed on prospects and
career &rowth o! an advisor.
38
A:3ISO+ IN:2CTION P+OA+A5 H AIP I 1 . )a#s
The candidates are imparted with product 0now$ed&e= process 0now$ed&e and about the
company.
+EF+ES8E+ T+AININA
I.+.:.A trainin& o! 5. hours duration @i.e.= 7 hours per day !or 7 days periodA is mandatory.
The course comprises o! di!!erent modu$es which are detai$ed be$owF
5o)ule 'D
C%a&tersD
1. -ntroduction to -nsurance
2. ,undamenta$ 'rincip$es o! Li!e -nsurance
3. Li!e -nsurance 'roducts
5o)ule *D
C%a&tersD
%. Options= 6uarantees and Riders
5. #omputation o! 'remiums > 4onuses
5o)ule ,D
C%a&tersD
(. -nsurance "ocuments
7. #$aims
8. Or&ani)ation G "istribution #hanne$s
+. 6roup -nsurance and uperannuation chemes > 'ension '$ans
3+
5o)ule .D
C%a&tersD
1.. Rura$ /ar0et
11. ,inancia$ '$annin& and Ta5ation
12. Le&is$ative and Re&u$atory /atters
13. ,unctions o! the 3&ent
5o)ule /D
C%a&tersD
1%. ,undamenta$ o! the 3&ency Law and 3&ency #ommission tructure
15. -nsurance a$esmanship and e$$in& Techni?ues
Test
The student has to under&o a test at the end o! the pro&ram.
On success!u$ comp$etion o! the test= the student wi$$ become an
I+:A HInsuran!e +egulator# an) :evelo&"ent Aut%orit#I Certifie) Insuran!e Agent.
The advisors are a$so advised to comp$ete Finan!ial 5ar?ets Beginners
5o)ule of NCF5 HNational Sto!? E!%ange Certifi!ationI ea"ination since the
company is now o!!erin& JL-' or Jnit Lin0ed -nvestment '$ans which o!!er both $i!e cover
as we$$ as scope !or savin&s or investments options as the customer desires.
%.
/., In!entive S!%e"es for A)visors
The advisors &enera$$y receive a premium o! 12 K G 15K on the premium
amount in the case o! $i!e insurance products and in the case o! hea$th insurance productsI
they are paid commission up to 35K o! the premium amount. -! the advisor achieves a tar&et
o! Rs.3. $a0hs in a period o! one year= he >she wi$$ become member o! 5illion :ollar +oun)
Table H5:+TI. The bene!its derived !rom this membership is that the advisors wou$d &et
one !ree $aptop = invitations to participate in 8ationa$ #onventions= !ami$y trips = internationa$
star c$ubs membership and so on.
3part !rom this= there is Aran) Per? HAPI membership which wou$d entit$e
them to various bene!its. The di!!erent 0inds o! 6' membership are &iven be$owF
Table *D AP 5E5BE+S8IP SC8E5E
Pre"iu" A"ount A!%ieve)
Hin la?%sI
T#&e of 5e"bers%i&
1.5 -L*9R
3.5 -L*9R 'LJ
1. 6OL"
22 6OL" 'R9/-9R9
%. 'L3T-8J/
,or 6o$d= 6o$d 'remiere and '$atinum members= the company o!!ers !ree
LJT#@ Li!e Jnderwriter Trainin& #ounci$A ,e$$owship.
/.. +easons for !%oosing !areer in insuran!e in)ustr#
%1
This was an openGended ?uestion !or which mu$tip$e responses were received !rom the
respondents. 3$$ the responses were &rouped into 5 cate&ories and the percenta&e o!
respondents who opted !or each was ca$cu$ated as depicted be$owF
Figure 0D +easons for !areer in insuran!e
/./ +easons for Boining ICICI Pru)ential
Figure 7D +eason for Boining ICICI Pru)ential

C8APTE+ 0
%2
T+AININA CO5PONENTS
0.' Training In&uts 1 3'
There are 7 sub 1 variab$es under *1 such asF course structure= course content= duration o!
trainin& pro&ram= trainin& hand outs and aids= ?ua$ity o! e5ercise= trainin& coordination P
or&ani)ation and communication o! trainin& objectives c$ear$y.
3 !ive point ratin& sca$e was used to &ather the responses !rom the advisors. The ratin&s &iven
!or each sub 1 variab$e by each respondent is combined to &et a tota$ score !or that
respondent. -! a respondent &ives ratin& o! 1 to the entire 7 sub 1 variab$es= the tota$ score !or
that respondent wou$d be 1Q 7 R 7. imi$ar$y= i! a respondent &ives ratin& o! 5 to a$$= then tota$
score !or *1 wou$d be 5Q 7 R 35. There!ore= i! we ca$cu$ate the tota$ scores &iven by each
respondent in the same manner= the scores wou$d vary !rom 7 to ,/.
Ta0in& the tota$ score into consideration= a$$ the scores obtained were a&ain cate&ori)ed into 3
and the !re?uency obtained is &iven be$owF
Table ,D Fee)ba!? on training in&uts
Categor# Fre9uen!# Per!entage
'OOR @7 1 1(A . G
3*9R369 @ 17G 2(A 1. %.
9S#9LL98T@27 G35A 15 (.
Figure 8D Fee)ba!? on Training In&uts
%3
0.* +ole of Trainer
There are 5 sub 1 variab$es in *2 such asF ubject 0now$ed&e> conceptua$ c$arity= Trainer
created P maintained environment !or $earnin&= Trainers trainin& s0i$$s P competence=
'resentation methodo$o&y and 6uidance P support.
3pp$yin& the same procedure as !or *1= we &et the ran&e o! scores as / to */. The
respondents are then cate&ori)ed into 3 &roups asF
Table .D Fee)ba!? on t%e role of trainer
Categor# Fre9uen!# Per!entage
'OOR @5 1 11A . G
3*9R369 @ 12G 18A . G
9S#9LL98T@1+ G25A 25 1..
Figure $ D Fee)ba!? on t%e role of trainer
%%
0., Fa!ilities at t%e venue
The responses !or *3 were obtained in the !orm o! ;yesB or ;noB. The score assi&ned !or ;noB
response was D2< and !or ;yesB was D1<. 2. out o! 25 advisors interviewed !ound the !aci$ities
provided by the company at the venue as satis!actory. -n other words= 8.K o! the respondents
were satis!ied with the !aci$ities provided at the venue.
Figure '-D Satisfa!tion @it% fa!ilities at venue
0
5
10
15
20
25
5 to 11 12 to 18 19 to 25
POOR AVERAGE EXCELLENT
%5
0.. +elevan!e to t%e Bob
3 5 point ratin& sca$e was used to &ather responses !rom the advisors which ran&ed !rom 1
!or Dnot at a$$ re$evant< to 5 !or Dhi&h$y re$evant<. O! a$$ the respondents= +2K !e$t that the
trainin& pro&rams conducted !or them were hi&h$y re$evant whi$e on$y 8K were not sure.
Figure ''D Fee)ba!? on relevan!e to Bob
0./ Overall evaluation of training &rogra"
%(
3s in the case o! *1 and *2= here a$so same 5 point ratin& sca$e was used. 3$most a$$ o! the
respondents have &iven hi&hest ratin& to the trainin& pro&ram as a who$e. 15 respondents
&ave Dabove avera&e< ratin& and 1. &ave De5ce$$ent< ratin& with respect to overa$$ eva$uation
o! the trainin& pro&ram.
Figure '*D Fee)ba!? on overall training &rogra"
C8APTE+ 7
%7
INTE++ELATIONS8IP A5ONA T+AININA CO5PONENTS
7.' Correlation anal#sis "atri
3 corre$ation matri5 has been drawn ta0in& a$$ the above !ive variab$es into consideration=
i.e.= *1= *2= *3= *% and *5= to understand the interre$ationship amon& these variab$es.
Table / F
Correlation "atri bet@een t%e variables
3' 1 Training In&uts
3s cou$d be seen !rom the intercorre$ation matri5 above= the trainin& inputs are si&ni!icant$y
and positive$y corre$ated with a$$ the other variab$es 1 ro$es o! the trainer= !aci$ities at venue=
re$evance o! the pro&ram and the overa$$ eva$uation o! the trainin& pro&ram. These si&ni!icant
re$ationships are obvious since trainin& inputs !orm the core part o! any trainin& pro&ram.
They are desi&ned on the basis o! trainin& needs assessment made by the 2R department o!
the or&ani)ation.
3 positive corre$ation is !ound between trainin& inputs and ro$es o! the trainer @r
1=2
R ..8+A.
This imp$ies that the trainin& inputs and trainer<s sty$e o! impartin& the trainin& pro&ram &o
handG in 1 hand. "ependin& on the course structure P content= the time a$$ocated !or each
modu$e and the !aci$ities provided at the venue= the trainer adopts suitab$e methods to create
environment !or $earnin&.
V1 V2 V3 V4 V5
V1 1
V2 0.89 1
V3 0.46 0.52 1
V4 0.52 0.58 0.25 1
V5 0.79 0.95 0.44 0.54 1
%8
On the other hand= the $east corre$ation has been !ound amon& trainin& inputs and the
!aci$ities provided at the venue by the or&ani)ation @r
1=3
R ..%(A. This proves that the !aci$ities
avai$ab$e at the venue have no much si&ni!icance !or the advisors. They are more concerned
about the way the trainin& pro&ram has been desi&ned and imparted.
6enera$$y= there has to be a si&ni!icant corre$ation between trainin& inputs and the re$evance
o! the pro&ram to the job pro!i$e and the same has been !ound in the study a$so @r
1=%
R ..52A.
,or= the course structure P content is desi&ned by ta0in& the s0i$$s= 0now$ed&e and attitudes
re?uired !or e!!ective per!ormance o! the job into consideration. The basic purpose o!
providin& trainin& is to ma0e the advisors capab$e o! D&ood se$$in&<.
,urther= a si&ni!icant corre$ation @r
1=5
R ..7+A between the trainin& inputs and the overa$$
eva$uation o! the trainin& pro&ram by the advisors can a$so be seen in the matri5. That is= i!
the advisors !ee$ the trainin& inputs are above avera&e= they &ive simi$ar ratin& !or the
pro&ram as a who$e. This shows that trainin& inputs !orms a crucia$ component !or overa$$
success o! the pro&ram.
3* 1 +ole of t%e trainer
Tab$e shows that trainer<s subject 0now$ed&e and trainin& s0i$$s have emer&ed as the most
si&ni!icant variab$e in re$ation to the overa$$ eva$uation o! the trainin& pro&ram @r
2=5
R ..+5 A.
-n case o! many trainin& pro&rams= it has been !ound that there is no impact on the
productivity o! the emp$oyees even thou&h the trainin& inputs have been o! very hi&h ?ua$ity.
This is because $itt$e do they rea$i)e that trainin& is conducted so that emp$oyees can
imp$ement the 0now$ed&e in their dayG toGday wor0 by deve$opin& re?uisite s0i$$s. Trainers
shou$d not on$y impart 0now$ed&e but show to the participants a route map o! how to convert
this &ained 0now$ed&e into a s0i$$ over a period o! time. 4ut then many trainers are not c$ear
%+
how to convert the 0now$ed&e into a s0i$$. These trainers concentrate more on the too$s or
methods o! the trainin& rather than this conversion. This has been the major reason !or !ai$ure
o! severa$ trainin& pro&rams. The si&ni!icant re$ationship between trainer<s ro$e and re$evance
o! pro&ram to the job @r
2=%
R ..58A proves the same.
6enera$$y= the trainer<s teachin& sty$e and the creation o! environment !or $earnin& depends
on the access to the various !aci$ities avai$ab$e at the venue. ,or e5amp$e= provision o! audioG
visua$ aids can !aci$itate two way participation= ?uic0 revisit to materia$ !or c$ari!yin& a point=
o!!er entertainment etc. The positive and si&ni!icant re$ationship between trainer<s ro$e and
!aci$ities at venue @r
2=3
R ..52A drives home the same point.
3, 1 Fa!ilities at venue
This variab$e does not have much si&ni!icant re$ationship with the re$evance o! the pro&ram
to job and the overa$$ eva$uation o! the trainin& pro&ram @r
3=%
R ..25 = r
3=5
R ..%%A. this shows
that even i! proper !aci$ities are not provided at the venue= i! the trainin& inputs and the
trainer<s communication s0i$$s are &ood= the trainin& pro&ram cou$d be a success.
2er)ber& has propounded that the presence o! hy&iene !actors can on$y prevent
dissatis!action but cannot $ead to satis!action. imi$ar$y= !aci$ities at venue bein& hy&iene
!actor = the satis!action with it does not motivate emp$oyees to improve their per!ormance.
They can at best !aci$itate creatin& an environment !or $earnin&.
3. 1 +elevan!e to Bob
-t is ?uite obvious that i! the trainin& pro&ram is !ound to be re$evant to the job= the trainin&
pro&ram wi$$ a$so be rated hi&h$y. This= however= depends to a &reat e5tent on how the
trainin& 0now$ed&e is imparted by the trainer and converted to s0i$$s re?uired !or job.
5.
7.* Satisfa!tor# as&e!ts of training &rogra"
This was an openGended ?uestion !or which mu$tip$e responses were &iven by the advisors.
The various responses can be cate&ori)ed into three broad areasF course materia$= trainin&
!aci$ities and trainer<s 0now$ed&e and s0i$$s.
3s a$ready discussed in #hapter (= the advisors rated the trainer<s ro$e as e5ce$$ent. /ost o!
them were ?uite satis!ied with the way the trainin& was imparted. They !ound the trainers to
be responsive and approachab$e whenever they re?uired any &uidance and support.
7., I"&rove"ents suggeste) b# t%e A)visors
The !ocus o! the study was on advisors who received entry $eve$ trainin& in $ast one to two
months. /any were a$ready emp$oyed in di!!erent areas and this career !ormed an additiona$
source o! income !or them. They are !indin& it di!!icu$t to mana&e time !or both their re&u$ar
wor0 and trainin& c$asses. 2ence= the advisors !ee$ that i! possib$e= the duration o! the trainin&
pro&ram has to be reduced or it shou$d be imparted throu&h distance mode.
The course structure and schedu$e were !ound to be satis!actory but the advisors !ee$ that the
technica$ $an&ua&e used in the materia$ shou$d be simp$i!ied. This wou$d he$p them in
e5p$ainin& the products in simp$e $an&ua&e to the customers.
51
C8APTE+ 8
CONCL2SION
ICICI Pru)ential7 bein& 8o.1 private p$ayer in $i!e insurance in the country
with the $ar&est distribution networ0= has made e!!orts to update its trainin& pro&rams to 0eep
pace with the !ast chan&in& wor$d. -n a hi&h$y competitive mar0et= such continuous e!!orts
are necessary to be ahead o! competitors.
The "aBor fin)ings with respect to the trainin& pro&ram !or advisors
conducted by -#-#- 'rudentia$ are 1
The advisors have chosen career in insurance to earn additiona$ income and have
?uic0 career &rowth.
The advisors have joined -#-#- 'rudentia$ most$y throu&h re!erences
The course content is a$$ encompassin&= i.e.= it covers a study o! a$$ aspects o! $i!e
insurance = an overview about economy and introduction to various products o!
the company and the uni?ue !eatures o! each.
The trainin& aids and handouts were !ound to be o! hi&h ?ua$ity
The conceptua$ 0now$ed&e and presentation s0i$$s o! the trainers are rated to be
e5ce$$ent.
The trainin& pro&ram is conducted at a$$ the branches and the !aci$ities provided
were considered to be satis!actory.
The advisors had a prob$em with the duration o! the trainin& pro&ram and the
technica$ $an&ua&e o! the materia$
52
The suggestions that can be made to improve the trainin& pro&ram !or advisors are 1
The duration o! the trainin& pro&ram cou$d be reduced.
The trainin& pro&ram shou$d be conducted durin& wee0ends so that the advisors can
concentrate proper$y.
The trainin& pro&ram cou$d be imparted throu&h distance mode or on$ine mode.
4esides in technica$ $an&ua&e= the concepts shou$d be e5p$ained in simp$e $an&ua&e or
$oca$ $an&ua&e a$so which a $ayman can understand. This wou$d he$p the advisors to
interact in a better way with the customers.
Cnow$ed&e about one<s products and a$so that o! the competitors shou$d be provided
to the advisors so that they can hand$e customer ?ueries we$$ and deve$op &ood se$$in&
s0i$$s.
The techni?ues to promote the brand awareness o! -#-#- 'rudentia$ shou$d be
inc$uded in the course.
-#-#- 'rudentia$ shou$d concentrate more on the trainin& pro&rams conducted
!or the advisors. ,or= they are the ones who not on$y se$$ the company<s products but a$so
create and maintain brand ima&e amon& the customers. #onstant assessment o! the advisor<s
s0i$$s in order to up&rade them wou$d &o a $on& way in achievin& success in this dynamic
industry.
53
APPEN:ICES
LIST OF LIFE INS2+E+S IN IN:IA
1. 4ajaj 3$$ian) Li!e -nsurance #ompany Limited
2. 4ir$a un Li!e -nsurance #o. Ltd
3. 2",# tandard Li!e -nsurance #o. Ltd
%. -#-#- 'rudentia$ Li!e -nsurance #o. Ltd
5. -86 *ysya Li!e -nsurance #ompany Ltd.
(. Li!e -nsurance #orporation o! -ndia
7. /a5 8ew :or0 Li!e -nsurance #o. Ltd
8. /et Li!e -ndia -nsurance #ompany 'vt. Ltd.
+. Cota0 /ahindra O$d /utua$ Li!e -nsurance Limited
1.. 4- Li!e -nsurance #o. Ltd
11. Tata 3-6 Li!e -nsurance #ompany Limited
12. Re$iance Li!e -nsurance #ompany Limited.
13. 3viva Li!e -nsurance #o. -ndia 'vt. Ltd.
1%. ahara -ndia Li!e -nsurance #o= Ltd.
15. hriram Li!e -nsurance #o= Ltd.
1(. 4harti 3S3 Li!e -nsurance #ompany Ltd.
17. ,uture 6enera$i Li!e -nsurance #ompany Ltd.
18. -"4- ,ortis Li!e -nsurance #ompany Ltd.
1+. #anara 24# Orienta$ 4an0 o! #ommerce Li!e -nsurance #o. Ltd
5%
J2ESTIONNAI+E
1. Ehat prompted you to choose a career in insurance industryH
2. Ehat motivated you to join -#-#- 'RJ"98T-3LH
3. +ate t%e follo@ingD
@On ca$e o! 1 to 5F 1Gpoor= 2G be$ow avera&e= 3G avera&e= %Gabove avera&e= 5G e5ce$$ent A
3A #ourse structure
4A #ourse #ontent
#A "uration o! trainin& pro&ram
"A 2andouts P Trainin& aids
9A Tua$ity o! e5ercise
,A Trainin& coordination P or&ani)ation
6A #ommunication o! trainin& objectives c$ear$y
%. Trainer Fee)ba!?
3A ubject 0now$ed&e> conceptua$ c$arity
4A Trainer created P maintained environment !or
Learnin&
#A Trainers trainin& s0i$$s P competence
"A 'resentation methodo$o&y
9A 6uidance P support
5. Eere the !aci$ities provided at the venue ade?uateH
:es 8o
55
(. Ehat did you $i0e the best about the pro&ramH
7. Ehat cou$d have been done betterH
8. Ehat is your overa$$ eva$uation o! the trainin& pro&ramH @Rate on sca$e o! 1 to 5A
+. "o you thin0 this trainin& pro&ram is re$evant to your job pro!i$eH @tic0 appropriate oneA
2i&h$y re$evant
Re$evant
8ot sure
8ot that much re$evant
8ot at a$$ re$evant
1.. 3ny other comments> su&&estionsUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU
UUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU
5(
+EFE+ENCES
FEBSITES
1. www.icicipru$i!e.com
2. www.!icci.com
3. www.citehr.com
%. httpF>>www.scribd.com>word>!u$$>38251(8HaccessU0eyR0eyGwthi.bc71r%y?)ime%e
5. httpF>>www.scribd.com>doc>%3(+87+>-#-#-G'RJL-,9 TJ":H
!romUemai$U!riendUsendR1
5AAAGINE
-nsurance chronic$e= *o$G*--= -ssueGS-= 8ovember 2..7
BOO>S
1. #hen&= 'atric0 Low Cim. ;Training Success: understanding the learning and training
essentials. 2yderabad = -#,3- Jniversity 'ress= 2..5
2. 6o$dstein= -rwin.L. ;Training in rgani!ations. Thomas Eadsworth= 2..1
". Raju#'.*.L. ;Training: $eeds and %valuation& ed.'= 2yderabad = -#,3-
Jniversity 'ress= 2..5
(. Reddy= "r.4.Rathan. ;%ffective )* Training and +evelopment Strategy.
2ima$aya 'ub$ishin& 2ouse= 2..7
,. Reddy= umathi. ;Training and +evelopment: -erspectives from Service Sector
&ed.'# 2yderabad = -#,3- Jniversity 'ress= 2..7
57