DISSERTATION REPORT ON

“LEVEL OF TRAINING IN Sbi Life Insurance”

DECLARATION
I hereby declare that, the project entitled “Level of Training in Sbi Insurance Sector” assigned to me for the partial fulfillment of BBA degree from Kurukshetra University, Kurukshetra. It is the original work done by me and the information provided in the study is authentic to the best of my knowledge. This study has not been submitted to any other institution or university for the award of any other degree

INDEX
CHAPTER 1

Introduction to the project • Introduction to the Insurance sector Introductions to the Topic • Introduction to Training o Definition o Features of training o Need for training effectiveness o Need for training o Objectives of training • Importance of Training o For the Employees o For the organization • Types of Training o Orientation Training o Job Instruction Training o Refresher Training o Vestibule Training Objectives of the study

CHAPTER 2

CHAPTER 3 CHAPTER 4

History Of Sbi Life Sector Research Methodologies Interpretation and Analysis of Data Findings Limitations of the study Recommendations Conclusion Bibliography Annexure

PREFACE
Practical training is an important part of management courses. Theoretical studies in classroom are not sufficient to understand the functioning of complex and large sized organization, managerial climate and the real problems coming in the way of management of Man, Material, and Machines and Money. Practical training supplements the theoretical studies i.e. it covers what is left uncovered in the classrooms .It offers an exposure to real practice of management in business organization. It exposes student to an invaluable treasure of experience. In the forthcoming pages an attempt has been made to present a comprehensive report concerning different aspects of my study. The overall knowledge gained by me will be reflected in the report itself.

ACKNOWLEDGEMENT
It is not until you undertake a project like this one that you realize how massive efforts it really takes, or how much you must rely upon the selfless efforts and goodwill of others. There are many people who helped me in this project and I want to be thankful to all for their cooperation and encouragement. I am deeply indebted to who extended his full Cooperation and support, subverted his expert guidance wherever necessary which was of paramount importance to me. I would be failing in my duties if I don’t convey my special thanks to my friends for sparing their valuable time in providing me information and their help.

INTRODUCTION TO INSURANCE
Insurance is a cover used for protecting oneself from the risk of a financial loss. It is important to understand that risk is a part of any person’s life and that it increases as a person increases in age, responsibility and wealth. Insurance is risk coverage against financial losses and should not be taken as an investment instrument. There are mainly two parties involved in this – the insurer and the insured. The insurer is the insurance company who will provide the cover to the insured against any financial losses. The insured may be an individual person or a group of people like an employer, members of a society, etc. A policy is the contract between the insurer and the insured, which states the risks covered, the exclusions, if any, and the benefits reimbursed on the happening of an event like death, illness etc. The policy is paid through what is called a premium, which is a set amount that must be paid by the insured on a monthly, semi-annual or annual basis. On the happening of an event like death, disability, fire, etc, for which the insured is covered, the benefit amount stated in the policy contract can be claimed by the insured.

DEFINITION
 FUNCTIONAL DEFINITION According to Encyclopedia Britannica, “Insurance may be defined as a social device whereby a large group of individuals through a system of equitable contributions may reduce or eliminate measurable risk of economic loss common to all members of the group”.  CONTRACTUAL DEFINITION According to Justice Tindall, “Insurance is a contract in which a sum of money is paid to the assured in consideration of the insurer’s incurring the risk of paying a large sum upon a given contingency”.

PRINCIPLE OF INSURANCE
 BASIC PRINCIPLES 1) PRINCIPLE OF COOPERATION Insurance company collects premium from large number of people insured and puts the premium in pool. The claims of those who actually suffer loss are paid out of the pool. The insured are cooperating by paying premium in advance to strengthen the pool. 2) PRINCIPLE OF PROBABILITY The occurrence of risk in each type of insurance can be estimated with the help of theory of probability. The probability tells about the chances and amount of the loss. The companies collect the large number of data of previous happenings over a large number of years to form an idea about the probability of incidence in future.

 LEGAL PRINCIPLES 1) PRINCIPLE OF INSURABLE INTEREST A contract of insurance affected without insurable interest is void. It means that the insured must have an actual pecuniary interest and not a mere anxiety or sentimental interest in the subject matter of the insurance. The insured must be so situated with regard to the thing insured that he would have benefit by its existence and loss from its destruction It is the existence of insurable interest in a contract of insurance, which distinguishes it from a mere watering agreement.
2) PRINCIPLE OF INDEMNITY

A contract of insurance contained in a fire, marine, burglary or any other policy (excepting life assurance and personal accident and sickness insurance) is a contract of indemnity. This means that the insured, in case of loss against which the policy has been issued, shall be paid the actual amount of loss not exceeding the amount of the policy, i.e. he shall be fully indemnified.

3) PRINCIPLE OF CAUSA PROXIMA The rule of causa proxima means that the cause of the loss must be proximate or immediate and not remote. If the proximate cause of the loss is a peril insured against, the insured can recover. When a loss has been brought about by two or more causes, the question arises as to which is the causa proxima, although the result could not have happened without the remote cause. But if the loss is brought about by any cause attributable to the misconduct of the insured, the insurer is not liable.

4) PRINCIPLE OF SUBROGATION The doctrine of subrogation is a corollary to the principle of indemnity and applies only to fire and marine insurance. According to it, when an insured has received full indemnity in respect of his loss, all rights and remedies which he has against third person will pass on to the insurer and will be exercised for his benefit until he (the insurer) recoups the amount he has paid under the policy 5) PRINCIPLE OF CONTRIBUTION Where there are two or more insurance on one risk, the principle of contribution comes into play. The aim of contribution is to distribute the actual amount of loss among the different insurers who are liable for the same risk under different policies in respect of the same subject matter.

KINDS OF INSURANCE
 LIFE INSURANCE Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals or in lump sums.  GENERAL INSURANCE All other type of insurance are called general insurance or non life insurance. The common types of general insurance are: • Marine Insurance It is the oldest type of insurance. It covers the sea or marine perils. Perils are the cause of the loss or hazard which is a condition that may increase the chances of the loss. Marine insurance is the protection against the marine perils like loss or sinking of the ship, sea piracy, capture by

enemy etc. The loss could be of ship, cargo or freight. Marine insurance will cover such risks. • Fire Insurance It covers the loss due to the fire to the property like houses, shops, goods factories or godowns etc. It covers loss from the fire and consequent loss from such fire i.e. loss of work due to fire. • Liability Insurance This type of insurance covers the risk of liability against the third parties, which an insurer might have to pay under certain circumstances. For example- injury to the property and/of person of third person in road accident or employer’s liability for an injury or death of a worker while performing duty etc. • Social Insurance This insurance is aimed at providing social security to the weaker sections of the society. It may take the shape of pension plans, disability or sickness benefits etc. The premium may come from govt. or employee and may also be shared by beneficiary. • Motor insurance The minimum requirement by law to provide insurance in respect of legal liability to pay damages arising out of injury caused to any person. Policies with various level of cover are available. • Theft Insurance This policy intends to provide compensation to insured in the event of the loss of property insured.

ROLE OF INSURANCE IN INDIAN ECONOMY
CONTRIBUTION TO INDIAN ECONOMY Insurance is the only sector which garners long term savings Insurers are increasingly introducing innovative products to meet the specific needs of the prospective policyholders. An evolving insurance sector is of vital importance for economic growth. While encouraging savings habit it also provides a safety net to both enterprises and Individuals. Insurance Companies receive, without much default, a steady cash stream of premium or contributions to pension plans. Various actuary studies and models enable them to predict, relatively accurately cash flows. Liabilities of Insurance companies being long-term or contingent in nature, liquidity is excellent and their investments are also long-term in nature. Since they offer more than the return on savings in the shape of life-cover to the investors, the rate of return guaranteed in their insurance policies is relatively low. Consequently, the need to seek high rates of returns on their investments is also low. The riskreturn trade off is heavily tilted in favor of risk. As a combined result of all this, investments of insurance companies have been largely in bonds floated by GOI, PSUs, state governments, local bodies, corporate bodies and mortgages of long term nature. Generates Long term funds for infrastructure and strong positive correlation between development of capital markets and insurance/pension sector Life insurance penetration in India was less than 1 per cent till 199091. During the 1990s, it was between 1 and 2 per cent and from 2001 it was over 2 per cent. In 2005 it had increased to 2.53 per cent.

Introduction to the Topic
The word "Training" is an encompassing term, which is often used, in describing changes occurring in our behaviors because of an experience we have encountered at some point in our lives. We usually call it Training. Example, how many time have you’re heard someone say, “Well did that experience teach you anything?” or “What did you learn from that experience?” Webster dictionary defines "training" as, the act, process, or method of one that trains, the skill, knowledge, or experience acquired by one that trains, the state of being trained. According to Flippo: “Training is the act of increasing the knowledge and skills of an employee for doing a particular job, the major outcome of training is learning

FEATURES OF TRAINING
-Increase knowledge and skills for doing job -Bridges the gap between job needs and employees skills, knowledge and behavior -Job oriented process, vocational in nature -Short-term activity designed essentially for operatives

NEED FOR TRAINING -Newly recruited people requires training so as to perform their task
effectively -Training is necessary to prepare existing employees for higher-level jobs (promotions) -Existing employees require refresher training so as to keep abreast of the latest development in job operation .In the face of rapid technological changes, this is an absolute necessary. -Training is necessary when a person moves from one job to another. -Training is necessary to make employees mobile and versatile. They can be placed on various jobs depending on organization needs. -Training is needed to bridge the gap between what employees have and what the job demands. Training is needed to make employees more productive and useful in the long term.

OBJECTIVES OF TRAINING
-To impact the basic knowledge and skills of the new entrant and enables them to perform their jobs well -To equip the employee to meet the changing requirements of the jobs and the organization -To teach the employees the new technique and way of performing the job or operation -To prepare the employees for higher level tasks and build up a second line of competent managers.

IMPORTANCE
FOR THE EMPLOYEES
-Training makes an employee more useful to the firm. -Training makes employees more efficient and effective. -Training enables employee to secure promotion easily. -Training helps an employee to move from one organization to another. -Employees can avoid mistakes, accidents on the job. -Employees can handle jobs with confidence. -They will be more satisfied on their jobs and their morale would be high.

FOR THE ORGANIZATION
-Trained workers can work more efficiently. -Wastages can be eliminated up to a large extent by doing work in proper way. -There will be fewer accidents. -Training improves the knowledge of the regarding the use of machines and equipment. -Trained workers can show superior performance. -Training makes employees more loyal to an organization. -It reduces the lab our turnover.

TYPES OF TRAINING
A wide variety of training programs are used in different organization, depending on requirements and size of their manpower. Some of the commonly used programs are as follows: 1. ORIENTATION TRAINING Orientation training tries to put the new recruit are ease. Each new employee is usually taken on a formal tour of the facilities, introduced to key personnel and informed about company policies, procedures and benefits. To be effective, orientation training should be well planned and conducted within the first week of employment. Such a pre-job training helps the recruit to familiarize with the job and its settings. 2 JOB INSTRUCTION TRAINING Job Instruction Training (JIT) was popular during World war 11 JIT was offered to white and blue –collar employees and technicians, with a view to improve their job-specific skills .The approach, basically, considered of four steps: -Orientation trainees to the jobs, using the services of experienced trainers. -Demonstrate the entire job, using the services of experienced trainers -Ask trainees to do the job as often as necessary until satisfactory performance is obtained. -Evaluate employee performance periodically and offer supplementary training .If necessary.

3. REFRESHER TRAINING Rapid changes in technology may force companies to go in for this kind of training .By organizing short-term courses which incorporate the latest developments in a particular field, the company may keep its employees upto-date and ready to take on emerging challenges .It is conducted at regular intervals by taking the help of outside consultants who specialize in a particular descriptive. 4. APPRENTICESHIP TRAINING Commonly found in industry such as carpentry and plumbing , apprentices are trainees here who spend a prescribed period of time working with an experienced, master worker. 5. VESTIBULE TRAINING It is training offered on an actual equipment used on the job but conducted away from the actual work setting-a simulated work s 6 On- The- Job- Training The most frequently used method in smaller organizations that is on the job training. This method of training uses more knowledgeable, experienced and skilled employees, such as mangers, supervisors to give training to less knowledgeable, skilled, and experienced employees. OJT can be delivered in classrooms as well. This type of training often takes place on the job Training is characterized by following points 1 It is done on ad-hoc manner with no formal procedure, or content 2 At the start of training, or during the training, no specific goals or objectives are developed 3 Trainers usually have no formal qualification or training experience for training

4 Training is not carefully planned or prepared 5 The trainers are selected on the basis of technical expertise or area knowledge

ADVANTAGES
• • •

Low cost - does not require the development of potentially expensive training materials or classroom/computer-based instruction. Task-based - Since OJT is performed at the work area, training tends to be focused on performing real job tasks. Well suited for small groups - OJT is often the most practical training method when you only need to train one or two employees at a time.

DISADVANTAGES

Inconsistent - Traditional OJT relies heavily on an experienced employee to provide the instruction based on what they feel are the most important topics. What is important to one employee may not be important to another. The result is what is learned may vary greatly, depending on who is assigned as the trainer. Incomplete - Without a structured lesson guide, OJT trainers often forget to cover important information. What is learned is likely to be based on what happened that day rather than on what a new employee needs to know to be safe and productive. Lack of founding principles - While the hands-on aspect of OJT may appeal to the practical learner, often the underlying theories of operation are not covered in sufficient detail or accuracy. Without this foundation of knowledge, trainees often learn what to do, not why they are doing it, resulting in poor decision making when things don't go exactly right. Bad habits - The trainee observes and may adopt the trainer's habits and attitudes about all aspects of the job including safety, quality, customer service, and relationship with management. Poorly selected trainers can have many unintended consequences

7 Off-the-job training

The employee is sent to another location outside the business to learn a skill or acquire important knowledge. Off-the-job training may include (1) lectures and demonstrations; (2) simulations, role-plays and games; (3) self-study; (4) attending external courses, for example, on day-release; (5)secondement, which means that the employee is temporary taken away from his/her routine job in order to gain further experience elsewhere .ADVANTAGES (1) specialists can be used to instruct the employees; (2) training can be more concentrated; (3) it is more suitable for theoretical instruction; (4) it can be less stressful. DISADVANTAGES : (1) there may be no direct link between the training and the job; (2) it can be artificial; (3) trainers may not know the specific conditions of the employment; (4) it is usually more expensive; (5) employees cannot work whilst they are being trained.

NEED FOR EVALUATION
The main objective of the evaluating the training programs is to determine if they are accomplishing the specific training objectives, that is, correcting the performance deficiencies .A second reason for evaluation is to ensure that any changes in trainee capabilities are due to the training program and not to other condition .Training programs should be evaluated to determine their cost effectiveness. Evaluation is useful to explain the program failure, should it occur. Finally, credibility of training and development is generally enhanced when it is proved that the organization has benefited tangibly from it.

PRINCIPLES OF EVALUTION
-Evaluation of the training programs must be based upon the following principles -Evaluation specialist must be clear about the goals and purpose of evaluation. -Evaluation must be continuous. -Evaluation must be specific -Evaluation must be based on objective methods and standards.

CRITERIA OF EVALUATION
HR professional should try to collect four types of data while evaluating training programs: -Measure of reaction -Learning -Behavior change Organization results

TECHNIQUES OF EVALUATION
Several techniques of evaluation are being used in organization .It may be stated that usefulness of the methods is inversely proportional to the case with which the evaluation can be done. --Experimental and control groups --Longitudinal or Questionnaire --Time series analysis Experimental and control groups In this technique, there are two groups, each group is randomly selected. One group is to receive the training (experimental) and other not to receive the training (control).Measure are taken of the relevant indicators of success before and after training for both the groups .If the gains demonstrated by the experimental groups are better than those by the control group, the training programs is labeled as successful. Longitudinal or time-series analysis In this technique, measurements are taken before the program begin and are continued during and after the program is completed. These results are plotted on a graph to determine whether changes have occurred as a result as a result of the training effort .To further validate that the changes as a result of training and not due to some other variables ,a control group may be included. Questionnaire method One simple method of evaluation is to send a questionnaire to the trainees after the completion of the program to obtain their opinion about the program worth. Their opinion could also be obtained through interviews .A variation of this method is to measure the knowledge and/or skills that the employees possesses at the commencement and the completion of a training .If the measurement revels that the results after training are satisfactory, then the training may be taken as successful.

OBJECTIVE OF THE STUDY
PRIMARY OBJECTIVE:
-To analyze the training effectiveness and methodology in the insurance sector. -To analyze the kind and level of training provided in the insurance sector.

SECONDARY OBJECTIVE:
-How the training needs are accessed in the insurance sector -To analyze the usefulness of the training provided to the employees. -To give suggestion for improving the training methodology. - To find whether the employees are satisfied with the training process. -To know whether the training program suits the future needs of the job of employees.

HISTORY OF SBI LIFE INSURANCE
Our Mission"To emerge as the leading company offering a comprehensive range of life insurance and pension products at competitive prices, ensuring high standards of customer satisfaction and world class operating efficiency, and become a model life insurance company in India in the post liberalisation Our Values :
• • • • •

Trustworthiness Ambition Innovation Dynamism Excellence

SBI Life Insurance Company Limited is a joint venture between the State Bank of India and BNP Paribas Assurance. SBI Life Insurance is registered with an authorized capital of Rs 2000 crores and a Paid-up capital of Rs 1000 Crores. SBI owns 74% of the total capital and BNP Paribas Assurance State Bank of India enjoys the largest banking franchise in India. Along with its 6 Associate Banks, SBI Group has the unrivalled strength of over 16,000 branches across the country, arguably the largest in the world. BNP Paribas Assurance is the life and property & casualty insurance unit of BNP Paribas - Euro Zone’s leading Bank. BNP Paribas, part of the world’s top 6 group of banks by market value and a European leader in global banking and financial services, is one of the oldest foreign banks with a presence in India dating back to 1860. BNP Paribas Assurance is the fourth largest life insurance company in France, and a worldwide leader in Creditor insurance products offering protection to over 50 million clients. BNP Paribas Assurance operates in 41 countries mainly through . SBI Life has a unique multi-distribution model encompassing vibrant

Bancassurance, Retail Agency, Institutional Alliances and Corporate . SBI Life extensively leverages the SBI Group as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans and personal loans. SBI’s access to over 100 million accounts across the country provides a vibrant base for insurance penetration across every region and economic strata in the country ensuring true financial inclusion. Agency Channel, comprising of the most productive force of more than 68,000 Insurance Advisors, offers door to door insurance solutions to customers

RESEARCH METHODOLOGY
Research methodology is systematic representation of research or any other Problem. It is a written game plan for conducting research. It tends to describe the step taken by researcher in studying the research problem along With logical background. In planning and designing a specific research project, it is necessary to anticipate all the steps that must be undertaken if the project is to be successful in collecting valid and reliable information. For successful completion of any project, there should be some steps that are necessary to be taken out. This step-by-step process is called research process. It consists of the following steps: • • • • • • • • • Formulating the problem or research objectives Research design Sources of data Designing the data collection form Sample size determination Area of research Organizing the data Analyzing the collected data Reporting the findings or preparing research report.

1. FORMULATING THE RESEARCH PROBLEM-

Formulating the research problem means defining the research objectives in the specific way. The objective of the research should be clear and specific. It includes who, when, where, what. In this project: Here, WHO- Employees of insurance sector. WHAT- Level of training?

2.

RESEARCH DESIGN

A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. The research design used in my study is basically descriptive in nature.
3. SOURCES OF DATA

Mainly there are two types of sources from which data can be collected. These are: • Primary data • Secondary data PRIMARY DATA COLLECTION: The survey is undertaken on the lines of interaction with customers. SECONDARY DATA COLLECTION: Secondary data is collected from various sources involving broachers, Internet etc that will be of considerable help to me. 4. SAMPLING DESIGN:

A sample design is a definite plan for obtaining a sample from a given population .It refers to the technique or the procedure the researcher would adopt in selecting items for the sample i.e. the size of the sample. Convenience sample method is adopted to select the sample . 5. SAMPL E SIZE: Hundred Employees
AREA OF RESEARCH

6.

Area of research is Ambala. Research has been conducted in this zone of industrial area. This zone will provide me with the respondents, which will be used for the findings.

7.

ORGANIZATION OF THE DATA

Data once collected needed to be organized for further processing. Data collected by me was carefully gone through then the relevant and useful matter was assorted and properly organized. 8. ANALYSING THE COLLECED DATA

After all the surveys and observations have been made, the completed datacollection forms must be processed in a way that will yield the information the project was designed to obtain. Firstly see that all collected data are consistent and logical. Then data must be prepared for tabulations. This means the data must be assigned to categories and then coded so that data can be put into the computer. 9. REPORTING THE FINDINGS

After tabulating and analyzing we must prepare a report on the findings. Report is clear and concise which shows the whole result in the research project. It also shows that the findings are clear to its objectives and results are clearly mentioned.

What is the method of accessing the training needs in your organization? By the HR Department By the supervisor On your Wish Any other No. Of Respondents 35 26 20 11

re p n e sos

1% 2 2% 2 2% 8 3% 8

B th H y e R D p rtm n ea et B th su e iso y e p rv r O yo r W n u ish A yo e n th r

Interpretation:
It shows that training needs are mostly accessed by HR department of insurance sector and then by the immediate supervisor of employees.

What is the kind of training provided to you? On the Job training Off the Job training Both No. Of Respondents 46 37 17

response

17%

46%

On the Job training Off the Job training Both

37%

Interpretation: Most of the employees are provided with on the job training and very less number of employees is provided with both type of training.

Which level of training is provided to you? No. Of Respondents 25 52 23

Individual Level Group Level Both

reponse
60 50 40 30 20 10 0 Individual Level Group Level Both No. Of Respondents

Interpretation: Training is provided mostly at group level and both group and individual level.

Who provides training to you? No. Of Respondents 33 48 19

Internal faculty External faculty Both

re o s pne
6 0 5 0 4 0 3 0 2 0 1 0 0 In rn l te a fa lty cu E rn l xte a fa lty cu B th o N. O o f R sp n e ts e odn

Interpretation: In the Insurance sector training is mostly provided by external faculty.

Are you aware of the training programme explained to you at the time of commencement of the programme? Yes No No. Of Respondents 60 40

response
80 60 40 20 0 0 1 2 3 N O o. f R espondents

Interpretation: Most of the employees are aware of the training program at the time of commencement of the program?

Are the training programmes are compatible to your needs? Yes No No. Of Respondents 63 37

response
80 60 40 20 0 Yes No No. Of Respondents

Interpretation: Training program is compatible to needs of employees and only 37% employees are not satisfied with the training program.

What do you think about the relative coverage of various topics? No. Of Respondents 17 28 24 31

Inadequate Sufficient Average Ideal

response
17% 31%

Inadequate Sufficient Average Ideal

28% 24%

Interpretation:

31% employees say that the coverage of topics is ideal and only 17% says that it is inadequate.

Are the material used for training sufficient? No. Of Respondents 65 35

Yes No

response
80 60 40 20 0 Yes No No. Of Respondents

Interpretation: 65% employees say that training material used is sufficient and only 35% says that it is insufficient.

Are the objectives of the training progarmmes explained to you at the time of commencement of the programme? No. Of Respondents 54 46
response

Yes No

46% 54%

Yes No

Interpretation: 54% say that the objectives of the training program are explained at the time of commencement of the program?

Is the training faculty effective? No. Of Respondents 84 16

Yes No

response

16% Yes No 84%

Interpretation:

Most of the employees say that training faculty is effective and only 16 % says that it is ineffective.

Do you gain new skills/knowledge from the training programme? No. Of Respondents 88 12

Yes No

response

100 50 0 Yes No. Of Respondents

No

Interpretation: 88% employees say that they gain new skills/knowledge from the training program.

Do you utilize new skills/knowledge gained into workforce? No. Of Respondents 76 24

Yes No

response

24% Yes No 76%

Interpretation:

76% employees utilize new skills/knowledge gained into workforce.

Do you find the training useful? No. Of Respondents 83 17

Yes No

response

No No. Of Respondents

Yes 0 50 100

Interpretation: 84% employees find the training useful and 16% does not find it useful.

Are you satisfied with the training process? No. Of Respondents 80 20

Yes No

response
80 60 40 20 0 Yes No N Of o. R espondents

Interpretation: 80% employees are satisfied with the training process and 20% that they are not satisfied.

Does the training programme suit the future needs of you job? No. Of Respondents 92 8

Yes No

response
8% Yes No 92%

Interpretation: 92% of employees says that the training program suit the future needs job.

FINDINGS
 Training needs are well identified and training programs are well

managed. Employees are quite interested in taking the part in the training programs.  According to survey, majority of the employees are satisfied with the training process adapted by Insurance sector. Though there are few exceptions. The majority of the employees are unable to suggest any change in the present training process because they lack the complete knowledge of training policies of Insurance sector.  Mostly training needs are accessed in the Insurance sector by the HR department then by the immediate supervisor.
 More than 70 of employees are satisfied with the training process

because the training is provided both at the individual and the group level.  Training needs suits the future needs of the employees because they are aware of the objective of the training program at the commencement of the program.  A mixed response has been received regarding the orientation training given at Insurance sector. Those who have undergone orientationtraining program want certain modifications which are as follows:  Orientation training programs should be taken more seriously and must me accomplished by tours. It should be given to each and every employee.  The employees are of the view that training played an important role in their promotions. Also the materials used for training are sufficient.

LIMITATIONS
Though I have tried my best in collecting the relevant information yet there are always present some limitations under which a researcher has to work. Here are some of the limitations under which I had to work as shown below: The sample size was small.

 Due to limitation of time, I was unable to devote much in Insurance Sector. So, some shortfalls may be present.  The lack of experience may have caused errors in administration of the research because my knowledge is limited as I am a student.  The result may be biased as the employee does not want to disclose the accurate information in which they are working.  Employees of the organization were not cooperative and were not willing to devote more time to fill the questionnaire because they were busy in their own work.

RECOMMENDATITIONS
While doing my project and conducting the survey regarding training effectiveness evaluation, I came to know a lot about insurance Sector and the methods of training used by Insurance Sector. There are a few suggestions which are as follows  Training program should be properly implemented as per the training schedule.  The training program must be conveyed to each and every employee of the organization. They must be well aware of the changes, if any, made in the training schedule. The training program schedule can be displayed at the notice board or information stands, so those, all employees can have a view of it.  There are certain employees who feel that there should be some changes in the training program. So, these employees should be consulted and their suggestions should be welcomed.  Proper arrangement should be made for the implementation of the carrier development in the company so that each and every employee can get opportunities regarding their career development.

CONCLUSION
With regard to the information collected by me through questionnaire regarding training and its effectiveness evaluation, I found that:  Most of the employees are satisfied procedure adopted at Insurance Sector. Also, Training needs are well identified and training programs are well managed in the company.  Employees are quite interested in taking the part in training programs. The company provides both on the job as well as off the job training to the employees.
 Off the job training is mostly provided by audiovisual mode Insurance

sector arranges both i.e. internal and external faculty as mode of imparting the training to the employees though most of the training is imparted by the external faculty.  The employees find that the training programs are in line with their needs and the knowledge or new skills gained by them are generally utilized by them in their work force.

BIBLIOGRAPHY
Aswathappa K., Human Resource & Personnel Management, Tata Mc Graw- Hill Publication, 2000 Edition. Bhatia, S.K., Training & Development, Deep & Deep Publication 2002 Edition. Bratton John & Gold Jeffery, Human Resource Management, Macmillion Publication 2005 Edition. Pepper Allan D, Managing Training & Development Function, Gower Publication 1999 Edition.

Questionnaire regarding training effectiveness and training methodology in Insurance Sector.

Name………………………………………………… Age……………… 1. What is the method of accessing the training needs in your organization? a) By the HR Department b) By your supervisor c) On your Wish d) Any other 2. What is the kind of training provided to you? a) On the job training b) Off the job training c) Any other
3. Which level of training is provided to you?

a) Individual Level b) Group Level c) Both 4. Who provides training to you? a) Internal faculty b) External faculty c) Both 5. Are you aware of the training programme explained to you at the time of commencement of the programme? a) Yes b) No 6. Are the training programmes are compatible to your needs? a) Yes b) No

7. What do you think about the relative coverage of various topics? a) Inadequate b) Average c) Sufficient d) Ideal 8. Are the material used for training sufficient? a) Yes b) No 9. Are the objectives of the training progarmmes explained to you at the time of commencement of the programme? a) Yes b) No 10. Is the training faculty effective? a) Yes b) No 11. Do you gain new skills/knowledge from the training programme? a) Yes b) No 12. Do you utilize new skills/knowledge gained into workforce? a) Yes b) No 13. Do you find the training useful? a) Yes b) No 14. Are you satisfied with the training process? a) Yes b) No 15. Does the training programme suits the future needs of you job? a) Yes b) No

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