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Case Study - INDIA FIRST LIFE INSURANCE
Case Study - INDIA FIRST LIFE INSURANCE
MAPPING
BY
P.MEKALA
MBA DEPT
Origin of the IFLI
o Started –Nov,2009- HQ- Mumbai
Menon View
o Continuous innovation from employees
o Offer high quality customer service
o Innovation in selling and servicing the product
Competency systems team (CST)
Parker
Talent Management
Performance Management
1. Human Capital
2. Sales and Marketing
3. Operation and
1. Operational Information
2. Tactical technology
BAND FUNCTION 4. Investment
3. Strategic 5. Actuarial
4. Leadership 6. Finance
7. Governance and
strategy
8. Product
Balancing and reinforcing loop of competencies
Performance management
o BSC approach Growth
o Menion decide to link with PMS to L&D and he made
Meritocracy Environment
Ace
o 27 L&D program were created for employee.
o Two way communication- transparency- new role &
competency- feed back from employee Development
o Total employee 1400 and with 800 sales all over India.
Think First
o Think first – was the leadership team
o IFLI’s leadership team finalized the strategic level of goals needed to
achieve vision 2020.
o Employee branding- feedback from
o CST also learn whether they were evaluating employee for the
competencies.
Challenges ahead
How they should communicate the new competency framework to all 1400
employees.
What is competency lifecycle roadmap?
o Map Competency
o Competency diagnosis
o Develop competency
o Monitor Competency
What are the step in developing a competency model?
Strength Weakness
o The new vision 2020 o The MD/CEO and CPO have been employed at IFLI
o Flexible organization boundaries ( Think First) only a short period of time.
o Process are in place( PMS,BSC, rewards and o Challenges with communicating the new role
recognition) competencies to the 800 employees in sales function.
o 27 learning & development program (in house)
Opportunities Threats
o Create employer branding o Competency mapping exercise of IFLI can be replicated
o Help IFLI attract talented employee by the competitors
Pros and Cons Analysis
Score can given -1 to +5
PROS CONS
o Create employee branding Easily Replicable
o Help IFLI attract talented employees
o Achieve Vision 2020
o Competency mapping could lead to recruitment
management
o Competency mapping could lead to PMS
o Competency mapping could lead to Career
development
o Competency mapping could lead to succession
planning
Total Pros Score: + Total Cons score: -