Abstract
International Journal of Advance Research in Multidisciplinary, 2023;1(2):353-357
Impact of training and development on employee engagement and performance in insurance sector
Author : G Sarat Kumar and Dr. Ravindar Prasad Sharma
Abstract
India's insurance market has seen several changes, including permitting private businesses to offer insurance and permitting up to 26% of foreign direct investment up to 2020 and 49% after that. The insurance industry needs workers with strong critical thinking abilities, the capacity to bring out the best in others, and the capacity to rise to the occasion where everyone is present. This is the time to prioritize training and development. The insurance industry has the potential to provide a lot of job opportunities, just like any other growing industry. Depending on an organization's level, different training needs apply in the insurance industry. Sales managers and agents are the target audience for the training modules that are most commonly offered in the sector. The focus of these modules is on sales communication, product knowledge, sales effectiveness, and pertinent technology. Senior management receives training on company governance and regulations, while non-sales staff often receives technical training. An analysis of the training and development programs in the Indian insurance industry was attempted in this study. The student had made reference to several significant conceptual elements of training and development activities while pursuing the study, with particular attention to the insurance industry. She tried to create the survey and analyze the results based on the same. All things considered, the current course gave her a lot of opportunity to learn and apply that knowledge to actual business situations. Additionally, the student gained knowledge about how to analyze data and apply it to provide suggestions while keeping organizational needs in mind.
Keywords
Insurance, technology, sales, communication, product knowledge