PROGRAMME FOR YOUNG EXECUTIVES (LIFE)

Background
The young and dynamic officers of L.I.C. of India, who currently hold positions at the level of Senior/Branch Manager, Administrative Officers/Assistant Divisional Managers are the future torch bearers of the Corporation. It is essential that they are groomed in such a way that they not only give an excellent account of themselves in their present jobs, but are also enabled to shoulder higher responsibilities in future.

Objectives
At the end of the programme participants will be able to :

• Analyse the various environmental factors and their impact on organizational operations

•Develop competencies required for operating in a competitive market-driven environment

• Understand the basics of change management

• Appreciate the need of multiple channels of distribution and their handling

• Understand the concepts of financial management

• Internalise the philosophy of HRM and other concepts like Key Result Areas (KRAs) and Key Performance Areas (KPAs)

• Understand the source and use of data for effective decision making (Data Management & Applications)

• Appreciate how to leverage technology for better performance

• Update and enhance knowledge of the mechanics of product development, valuation and other technical aspects of life insurance

Contents
Environmental scanning with special focus on :

• Liberalisation, privatisation and globalisation

• Financial sectors and the reform processes

• Demographic changes

• Dynamics of socio-economic factors

• Change Management

Life Insurance Marketing

• Issues in insurance marketing

• Customer relationship management

• Distribution channels and their management

• Marketing Research

• Case studies

Finance & Accounting

• Accounting and reporting standards

• Life fund and its management

• Solvency margin norms

• Interpretation of financial statements of Life insurance companies

• Convergence of financial markets

• Capital Markets

HRM

• Global perspectives in HRM

• Career planning

• Performance appraisal with special reference to DOPA

• Leadership dimensions

• Empowerment

• Inter-personal skills

• Communication Skills

• Identification of training needs

• Personal Growth

• Personality Development

• Business Ethics

Information Technology

• Concept of data management

• E-commerce concepts

• Future trends in I.T. for insurance

• IT solution to CRM

• Data Security and Data Integrity

Insurance - Technical

• Appreciation of actuarial techniques

• Global trends in product development

• Product designing and pricing

• Valuation aspects

• Quality, Cost and Profit Relationship

• Legal & Regulatory Aspects

• Global perspectives in insurance regulations

• IRDA Regulations

• Grievance Redressal

• General

• Specific project work relevant to his / her area of work to be given to the participants

at early stage by the coordinator.

• Book Review and Project (Resume) Presentation to be submitted by the participant.

•Implication of R.I. Act