Established in 1953, JUBILEE GENERAL (formerly Jubilee General - New Jubilee Insurance

Company Limited) is one of the brightest and most reputable names in the insurance sector.

Sustained growth over half a century has secured JUBILEE GENERAL a place among the “Big Three”
Pakistani insurance in terms of gross direct premium and financial base. JUBILEE GENERAL is listed
on the Karachi & Lahore Stock Exchanges. Major shareholders include Aga Khan Fund for Economics
Development and Hashoo Group. JUBILEE GENERAL, with its Head Office in Karachi, has an
extensive and dynamic branch network in all major cities and towns of Pakistan that guarantees prompt
service at the customer's doorstep.

In 2003, JUBILEE GENERAL became the first Pakistani insurance company to acquire a foreign
company when it took over the Pakistan operations of Commercial General Union. Together with
AKFED, JUBILEE GENERAL also acquired majority control of CU Life Assurance Company of
Pakistan Ltd.

With a broad spectrum of services available, Jubilee General’s client-base comprises prominent
national and multinational corporations operating in Pharmaceutical, Chemical, Textile, Cement,
Services (Hospitals & Hotels), Oil & Energy, Manufacturing, FMCG, Engineering, Banking and
Financial sectors.

JUBILEE GENERAL's business philosophy can be summed up as Customer Protection, Customer

Satisfaction and Customer Trust. This is acquired largely by ability to handle claims effectively. The
customer focus and pro-active management approach in all areas of business, allow JUBILEE
GENERAL to underwrite and handle claims in an expeditious and efficient manner.

The true test of soundness of insurance converge is the duration of client relationships. This is proven
by the fact that many clients have been with us for over 40 years. Clients are satisfied knowing that
JUBILEE GENERAL INSURANCE is their best security.

MISSION, VISION AND VALUES

VISION

“Enable people overcome uncertainty.”

MISSION

“Provide Solution to protect the future”

To provide our policyholders the highest degree of financial security, prompt and fair settlement of
their insured losses, professional and friendly service of all times.

To provide our employees a fair reward for their services, good working conditions, stable
employment; and the opportunity for training, self-development, long term professional growth and
prosperity with the company.

To earn a steady and satisfactory return for the shareholders on the company's capital and to strive for
the growth and prosperity of the company.
To be a good corporate citizen and contribute to the uplift and welfare of the community we live in.

 
STRATEGIC OBJECTIVE

JGI is a growth-oriented leading insurance company of Pakistan. Our strategic objective is to increase
our market share without compromising on level of service to our customers and profitability. We aim
to achieve our objective by diversifying our portfolios, relying on niche areas by developing new
products, sustaining profitable growth through employee training and continuously improving service
to our customers.

CORE VALUES

Customer Satisfaction; we believe that we can achieve our strategic objective only by providing the
best of service to our customers. This means providing product according to the requirement of our
customers, assisting them in maintaining and improving their risks and finally settling their claims (if
any) promptly and judiciously.

Employee Growth and Development; we believe in the sustainable growth of the Company through
employee training, development and personal growth.

Innovation; we are committed to change the way of business through introduction of new products
related to needs of our society and innovate e-based distribution channels.

Profitability; we believe in maximizing the returns to our shareholders by application of best practices.

Chairman of the Board of Directors

Mr. Towfiq H. Chinoy

 Managing Director & Chief Executive

Mr. Tahir Ahmed

 Directors
 Akbarali Hashwani
 Sadruddin Hashwani
 Masood Noorani
 Akbarali Pesnani
 John Joseph Metcalf
 R. Zakir Mahmood
 Aly Noormahomed Rattansey

IMPORTANCE OF HUMAN RESOURCE IN JUBILEE GENERAL.

“To be successful in the current rapidly-changing business world, we are committed to continuously
upgrade the knowledge, skills and abilities of our workforce and thus gain competitive advantage that
is critical to the growth and success of the Company.”

Human Resource is the assets of any organization, for JGI it’s also true. Human resources are the
source of generating revenue. No one can better understand the importance of HR than Service sector.
It has a direct impact on business. As an asset, a firm must know how to use these effectively. Their
skills, innovative knowledge and ability can boost company from bottom to a leading Organization.

This is the age of technology where New and advance development are replacing by humans.
Technology revolution brought drastic change in the world. Although Process of work has change but
the benefit of Human competencies cannot be neglected.

For JGI Manlike Resource is playing a key role for running the industry. Their Centralized HR system
enable employee to work efficiently at a same level. As an insurance Company, field staffs are the
profit generators. They are basically the main source of organizations business. JGI believe that without
HR, they cannot achieve their goals. HR improves the company's bottom line with its knowledge of
how human capital affects organizational success.

To achieve their mission, vision and objective, human resource is the key for JGI. They didn’t
compromise anything for their human resource; we can see the importance of human resource in all
functions of JGI.

All branches of JGI in Pakistan are interrelating with each other and centralized human resource
management is holding all functions of HR in the organization. All branches must follow the policy of
human resource so the quality of the employee’s skill can’t compromise.

HR PROCESS

Set of functions perform by the HR. It includes,

Human resource planning (Recruitment, Selecting, Hiring, Training, Orientation, Evaluation,

Promotion and Layoff), Employee Compensation & Benefits, Performance Management, Employee
Relations.

Through this process they ensure that all employees put their best effort to full fill their duties and JGI
also ensures that none of their employee thinks opposite for their organization. JGL give their top
priority to their employee and every aspect especially in career development and training.

JOB ANALYSIS:

Job Analysis is a process to identify and determine in detail the particular job duties and requirements
and the relative importance of these duties for a given job. Job Analysis is a process where judgments
are made about data collected on a job.

JGI uses Interview and Observation for conducting job analysis. They take interview from line
manager to observe the need of the job then prepare job analysis. Through observation they overlook
the need of employee in certain department. Job description and Job Specification has already are
structured. Graduation is the minimum qualification required for any position. For the senior positions
and executive Master degree is mandatory without it you cannot promote. It happened rarely when an
employee is promoted only on the basis of his/her experience to senior positions.

JGI has several branches in several regions of Pakistan. They all are inter connected with the centralize
HR department. If a branch wants to hire a person HR firstly determine the need of the employee then
accept the request. Head of the branch suggest 2 to 3 person for that particular job. Mostly HR hires the
recommended candidates by the branch but it’s not compulsory.

The most difficult task for JBI is identifying the need of employee in their different branches for that
they depend on the branch itself but the authority remains with HR department. The procedure is given
to all branches to hire any one and all branches must follow the policy of the organization.

RECRUITMENT:

After job analysis, recruitment process starts. Recruitment refers to the process of attracting, screening,
and selecting a qualified person for a job. Successful recruitment can only be possible when you have a
thorough knowledge, expertise and ability.

JGI give equal opportunity to everyone they never allowed any discrimination on the basis of gender,
race, religion, language and cast. But some time they discriminate on the basis of age because for the
entry level positions they prefer person from age not more than 28.

Last year due to the financial crisis some of the branches of the JGI joined other branch as one entity
but human resource is important for them that’s why they didn’t layoff any of their employees due to
which they have now surplus employees which causes some financial problem but because of JGI
policy they never layoff. Now whenever they need employee for some task or for any reason employee
leave their jobs, JGI didn’t recruit new employee from external market, they just use their surplus
employee and fill the position.

CREATING CANDIDATE POOL:

After analysis, JGI create pool of candidate. For Executives and Most senior positions, they use
Newspaper as a medium. While for other positions they base on their Website. Web base portal is an
excellent way of gathering the resume. Service of Head Hunters has also taken for hiring executives. A
pool can only be successful when you have more choice of your matched criteria. For example “Last
month they hire IT manager, for that they take service from HRS Global as head hunter”

After creating pool, they match their required criteria or Job Description with the information gather in
term of candidates resume. Experience people always welcome, but for the junior position like data
entry, assistant supervisor etc. fresh candidates always preferred.

The data they collocated from their web base portal are secured in their system whenever they need to
recruit they use that data which is very useful and consume less time.

CONDUCTING TESTING AND INTERVIEW:

JGI conduct testing and interview before selection. Testing method is only Fresh Blood candidates,
while professional and experience people are evaluated on the basis of interview. They have a pre
determined test format uses for non experience. It’s basically aptitude test based on some mathematical
series, General knowledge and Grammar questions. After Testing Fresh Candidates they sort out the
successful as per their evaluation standard.

An interview is a conversation between two or more people where questions are asked by the
interviewer to extract facts or evidence from the interviewee. There are three types of interview which
JGI usually taken.

Selection Interview
Appraisal Interview
Exit Interview (Informal)

Selection interview is taken before hiring a new employee, while Appraisal interview conducted to
determine the performance of the employee during the period. On the basis of Appraisal, it is to
decided, whether to promote, train or layoff the employee. Exit interview is informally taken to know
the reason of his / her leaving. Sometime employee doesn't tell about the problems which He or She is
facing during work. HR firstly prefers to retain back him/her at all cost. HR personally try to know the
reason and collect the main aspect. If it is salary problem then HR makes an effort to resolve it without
any hurdle. Negotiation in salary also consider as per the nature of job.

In JGI, Candidate give 2 interviews, 1st from immediate supervisor and HR representative and 2nd from
the Department head both structured and unstructured interview taken. Job related and relevant
questions are asked to judge the persons skills.

JGI doesn't depend on interview only. To avoid any misunderstanding and misleading, back ground
reference also check for the safety and unexpected future hurdles. Generally JGI depends on written
references. It clarifies the complete picture of the candidate.

SELECTION:

Its better not to select then to select a bad candidate. Selection is an important function as no
organization can achieve its goal without selecting the right people. Wrong selection leads to wastage
of money, time and spoil the environment of company. For JGI, it does also mean.

ORIENTATION:

Orientation is a function that allows a new employee to learn about the organization, what their
expectations are in the position, which is responsible and accountable, and in general what they need to
know to become an integral part of the company.

JGI also give a short orientation in which they give introduction of company, their policies, hierarchy
and reporting senior. Introduction from company employees, supervisors and head of the department.
This practice is just to tell the importance of his / her work in this organization.

After that the head of the particular department in which the selected employee have to perform the
task, give short summary of the procedure which they follow and also give brief description of the task
which he / she have to perform.

TRAINING & DEVELOPMENT:

Company promotes a climate within the organization and enthusiastically encourages the training and
development of workforce, to obtain and develop the required set of skills, which is essential towards
the accomplishment of the Company’s future growth.

Our growth over the years clearly speaks for the quality of its Human Resource. Our training and
development activities ensure that employees at all levels are nurtured with required skills and
knowledge, to enable to perform their jobs more productively.

Training and development is an important part of a company’s plan to progress further because it builds
capital on the progress of human assets in the organization. Thus, it is very necessary to implement this
process well which is a difficult task keeping in mind the variety that this field has and the expert
knowledge which is needed to be accurate and productive in it. NJI is a growing firm and will develop
a better module of training and development as need arises and more experience comes in.

Training and development refers to the imparting of specific skills, abilities and
knowledge to an employee. It is an attempt to improve current or future employee
performance by increasing an employee’s ability to perform through learning, usually by
changing the employee’s attitude or increasing his or her skills and knowledge.

JGI does OJT (On-the-job training) for the employee's. It helps to develop the skills and
enhance the performance of all employees. They normally carry out 3 month management
training for the fresh candidate but due to some reason they are not conducting it from 2
years.

For the improvement of employee’s skills, JGI commonly uses two methods

Job Enlargement:
Job enlargement means to add more duties, and an increased workload. Job enlargement
is horizontal expansion of duties and responsibilities of employee to give him chance to
perform better.

Job Enrichment
Job enrichment means improvement, or an increase with the help of upgrading
and development. Job enrichment gives more control and managerial access to perform
tasks and responsibilities.

From Senior Executives to Departmental Head, all are passes through the phase of

SUCCESSION PLANNING.

HR department continuously monitor Age, time period and qualification of the immediate
executives. They make sure the availability of the next executive within the company. If
it is not available due to any reason then HR look external market to make it possible.

As an insurance company, they send their senior managers and executives abroad for
training and polishing their skills. They also allow their employee to do any course or
study related to insurance on behalf of company. Through training, it helps to motivate
employee morale as well as to gain their loyalty.

For Field staff and executives, 2 days annual conference held in Karachi, such type of
Conference provides a ground to them for suggesting programs, offering ideas for dealing
with difficult situations, innovative approaches.

STRENGTH & WEAKNESSES OF TRAINING & DEVELOPMENT

STRENGHTS

        JGI gives importance to training and development as the increment of budget towards training and
development shows.
        The trainees are given financial assistance to move forward in their careers and take part in
training.
        Valuable certificates are offered.
        Trainings are outsources if in house is not sufficient.
        Post evaluation feedback is conducted.

WEAKNESSES

        Variance between Training Budget and Actual Training Investment

        Training numbers on technical skills is higher as compared to soft skills training.
        Other methods or modes of training are not incorporated such as coaching, outdoor activity training
for soft skills purposes etc.
        The appraisal system is on annual basis.
        A proper enhanced training is not done at an expert level.

COMPENSATION & REMUNERATION & BENIFITS:

Pay Scale of all the designation is defined in policy and is continuously reviewing as per market trend.

Following compensation policies JGI uses

PAY FOR PERFORMANCE/ INCENTIVE PLAN:

For field staff / marketers depend on the Target Insurance Policy Sales. The more they sale, the higher
they get.

SALARAY INCREAMENT & PROMOTION:

Annually salary increment for all staff excluding marketers/ field staff on the basis of performance
appraisal.

PAID & UNPAID LEAVES:

For Office employees 30 paid and unpaid leaves excluding field staff. According to the company’s
policy employee can en-cash 50% of their paid leaves and other 50% they enjoy by taking leave.

SALARY COMPRESSION:
It happened recently, depend upon the marketing situation.

Salary is not the only way to motivate employee. It doesn’t work till last. JGI knows this fact clearly.
They provide 1 Bonus which is equal to 1 month salary. Other than this, Medical allowances for
officers excluding their parents, 30 annual leaves which can be en-cashed are also given as a reward.

Eid Party is celebrated in which all employees of JGI invited in Head Office including branch
employees and Md's of different region. It has a positive impact on both Business and employees point
of view. By standing on a single plat form help to understand each other and share their views.

Annual Picnic party also arranged for employee including there family. 1 day stay at picnic point
refresh mind.

PERFORMANCE APPRAISAL:

JGI uses Forced distribution method for performance appraisal. It’s a specific format design for all
employees. Rating Employee on the basis of High performer, Good and poor.

SMART goals method uses for senior executive. They are asked about those objectives which he / she
aim during the period. There appraisal depends on their objective which set. Role Clarification method
for junior staff

Without informing sub ordinate, an appraisal cannot be passed.

PROBLEMS IN HR SYSTEM OF JUBILEE GENERAL:

BIASNESS IN SELECTION:

In JGI, biasness factor found in selection. Head of branch usually wants to recommend his / her
relatives or friend or known candidate to HR. HR usually become helpless in this matter because if they
will not hire that person than there is an expected conflict between HR and Manger. Thats why Merit
factor kills here, which results in loss of valuable and productive candidates.

EMPLOYEES SURPLUS

In JGI , there is employee surplus. Due to economic crisis there budget severely disturbed to cost
cutting , they are merging there branches which result in surplus employee. Although they didn't fire
employees, but due to surplus it getting difficult to look after everyone.

PERFORMANCE APPRAISAL

JGI uses Force Distribution Method, which disregard employee. One common problem is it foster
conflict against each other, instead of encourage a collaborative work environment. Listing an
employee in Poor performer while he is performing good effect performance.
Even if all employees in a unit are doing a good job, the forced distribution approach dictates that a
certain number be placed at the bottom.
TRAINING OBSTACLES:

Due to cost cutting and financial crisis they are not paying much attention on training since last 2 years.
Although training required extra cost and time but the benefits retrieve from it are far more necessary
than cost. Trained employee help a lot in reducing cost cutting.