ABSTRACT

Employees – the vital part of the organisation should be developed as they are contributing for the organization’s success. An organisation requires the employees of highly skilled, knowledgeable with right attitude for its smooth functioning and development. Training is the important managerial function in any organisation to educate / impart knowledge to the employees about their work in which they are involved. The training brings tremendous change in the employee’s skill level, knowledge and performance. Insurance industry is the important one in providing employees training and the performance of the employees very much relies on the training provided to them. The  insurance  sector  in  India  has  gone  through  a  number  of  phases  by  allowing  private companies to solicit insurance and also allowing foreign direct investment of up to 26% earlier and 49% from 2012. Insurance sector requires employees who have strong  critical thinking skills,  the  ability  to  get  the  most out  of people  and the  ability  to  rise where  everybody is. Training and development is of paramount importance at this juncture. As any other industry in the growth phase, the insurance industry has the capacity to create a large number of job opportunities.  Training requirements in the insurance sector vary according to levels in the organization. The most frequently delivered training modules in the industry are designed for sales managers and agents. These modules emphasize on sales effectiveness, product knowledge, sales communication and relevant technology. The ones for non-sales staff are typically technical in nature, while senior management is trained on regulatory and corporate governance aspects. The present study made an effort to analyse the training and development initiatives in the Indian insurance sector.

Keywords: Training, Organisation, Employees, Performance, Insurance