A Pilot Survey of Training and Development at LIC of India

  • Bhushan D. Bhat Development Officer, LIC of India
Keywords: Training; Development, LIC

Abstract

Training and Development is a core part for the agents of any insurance company. LIC has enjoyed a monopoly in the past. However, with the entry of 23 private companies LIC is facing the competition. The first part of the paper takes the stock of Change in Scenario, history of training, concept of Training and Development. Further, it speaks about Process, Need and Advantages. The objectives of the pilot study is to see the situation of training, satisfaction and expectations of agents from the training. It covers the training and development situations of LIC. Then the literature review is presented. The sample of 30 female and 60 males agents are administered the questionnaire and interacted. There are 22 points covered regarding the satisfaction level and few other points about rendering by training in development of different competencies. There after the analysis and finding is presented. At the end the suggestions are given which are based on analysis. The paper contributes at a Nano level to improve the effectiveness of training and development process of LIC which is useful for agents to work in increasing competitive insurance business.

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