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A Summer Training Project Report On

Training & Development Training & Development Training & Development Training & Development
OfOfOfOf
IN THE PARTIAL FULFILLMENT OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION 2009 Affiliated to jiwaji University, Gwalior Submitted to : Submitted by Mrs. Ritu Singh Mahendra Singh Sikarwar (HOD) MBA MBA (FC) II sem Roll No.
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INDEX
Acknowledgement Executive Summary

Chapter-1 Introduction
1.1. Introduction of Insurance 1.2. Definition

1.3. Classification of Insurance 1.4 History of insurance 1.5 Company profile o About ING o Mission, value and Personality 1.6 Brand Positioning 1.7 Product Portfolio

Chapter-2 Training And Development

2.1. Introduction 2.2. Approaches of Training and Development 2.3. Objectives of Training and Development 2.4. Process of Training and Development 2.5. Importance of Training and Development 2.6. Methods of Training and Development 2.7. Evaluation of Training and Development

Chapter-3 Data Analysis and Findings

3.1. Data Collection 3.2. Data Analysis & Interpretation

Chapter-4 Conclusion and Suggestions

4.1. Limitations 4.2. Suggestion 4.3. Conclusion Bibliography Questionnaire
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ACKNOWLEDGEMENT
I had sincerely expressed my ineptness & gratitude towards

Mr. Manish Sharma

ING Vysya Life Insurance
for giving me an opportunity to join this esteem organization for 45 days of summer training. My summer training in

ING Vysya Life Insurance

GWALIOR, of duration 45 days has been quite successful. During my stay for 45 days, I had received full co-operation from employees and officers of the HDFC Standard Life Insurance, Gwalior. The practical visualization of the summer training has helped me to understand a lot of practical things.

In order to acquire myself to the task of the organization and to analyze them, I met staff who helped by their kind co-operation and guidance. During the training they have been giving the practical knowledge. I would be special thank to our college faculty Mrs. Ritu Singh (HOD), Mr. Nitin Saxena, Mr. Manoj Sir, Mr. Rakesh Rajput, Mr. Sudeep Shrivastava and Ms. Jyoti Jain under supervision this topic. This Acknowledgement would be incomplete if I fail to express my deep gratitude towards all the facility of NRI College of Management who gave me a lot of support and guidance. Last but not least I would be special gratitude to our all friends who heartening me to complete this project.

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EXECUTIVE SUMMARY
This project is based on the annual reports of the

ING Vysya Life Insurance

. It is done to find out whether the

ING Vysya Life Insurance

are improving our capital structure or not. Further, in this Project Chapter 1 includes the introduction of the company wherein I told about the Objectives of the study and profile of the

ING Vysya Life Insurance

. Chapter 2 includes the Research Methodology wherein I have discussed the Research Design and Various sources of the Data Collection. Chapter 3 includes the Data analysis and Findings wherein I have analyze the data collected from the departmental records, annual reports and web site records. Chapter 4 represents the conclusion and the suggestions based on the departmental records and annual report.

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Chapter 1
Introduction of ING
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INTRODUCTION

1.1 INTRODUCTION OF INSURANCE:

Insurance is commerce. Insurance product is a financial contract entered into by parties with a define consensus of mind. Insurance, in its purest from, is a risk management tool, a security blanket. It provides financial protection against unexpected events. When we buy insurance, effectively a portion of risk is transferred to the insurer. This protection comes at a price, but its a function of what we might otherwise find ourselves burdened with. Whatever stage of life we are at, chances are, and we need insurance. 1.2 DEFINITION: Insurance can be define as a contract by which insurance agrees to pay the insured a compensation for specified damage loss or injury suffered in exchange for periodic payment called premium Insurance cannot prevent the happening of the event; it can protect a person from the financial losses he may suffer after the happening of the event. Therefore, insurance if aimed at compensating the financial loss suffered an insured event. 1.3 CLASSIFICATION OF INSURANCE: Insurance is basically classified into two categories. (1) Life Insurance (2) General Insurance Life insurance: This is provided for the payment of sum money on the death of the insured person due to natural causes or on the expiry of a certain number of years if the insured person is then alive. Death and life neither of them can be compensated. Life insurance aims to compensate the Income Earning Capacity of the person.

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7 Events covered in Life Insurance: In Life Insurance, income earning capacity of the person is covered. The loss of the income earning capacity can be on the happening of the following events when the life is assured. 1. Death. 2. Sickness (critical illness). 3. Accident (Death or permanent disability due to accident). 4. Retirement. Objectives and advantages of life insurance: Protection against Risk of Untimely Death: Protection during old age: Forced savings: Educational Requirement and Charity: Nomination and Assignment: Marketability and Suitability for Borrowing: Loan from the Insurance Company:

 Investment Option. Tax Benefits: Protection to Wife and Children: General Insurance: Insurance other than life fall under general insurance. It covers loss of every other physical or non-possession. The loss may be due to fire, theft, accident etc. the general insurance is further classified into Fire insurance: Marine Insurance: Miscellaneous Insurance:

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Insurance began as a way of reducing the risk of traders, as early as 5000 BC and 4500 BC in. Life insurance dates only to ancient Rome; "burial clubs" covered the cost of members' funeral expenses and helped survivors monetarily. Modern life insurance started in late 17th century, originally as insurance for traders: merchants, ship owners and underwriters met to discuss deals at Lloyd's Coffee House, predecessor to the famous. The first insurance company was formed in 1732, but it provided only fire insurance. The sale of life insurance in the U.S. began in the late 1760s. The Synods in and created the Corporation for Relief of Poor and Distressed Widows and Children of Presbyterian Ministers in 1759; Episcopalian priests organized a similar fund in 1769. Between 1787 and 1837 more than two dozen life insurance companies were started, but fewer than half a dozen survived. Prior to, many insurance companies in the United States for their owners, in response to bills passed in 2001 and in 2003, the companies have been required to search their records for such policies for example reported that Nautilus sold 485slaveholder life insurance policies during a two-year period in the 1840s; they added that their trustees voted to end the sale of such policies 15 years before the. General information: Human have always sought securities. This quest for security was an important motivating force in the earliest formation of families, clans, tribes, and other groups. Indeed, groups have been the primary source both emotional and physical security since the beginning of humankind. They ensured a less volatile source of life necessities then that which ensures isolated human & families could provide and help their less fortunate members in the time of crises.

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The principle kinds of insurance are as follows: Life-term, ordinary, endowment, limited payment, group industrial and annuities, with a variety of combinations of the four basic forms. Fire & marine-fire, ocean marine, motor vehicle, inland navigation, and transportation, tornado and windstorm, sprinkler leakage, earthquake, riot and civil commotion, explosion rain, hale, flood, aircraft, etc. Causality and surety -automobile liability, liability other than automobile workers, compensation, fidelity and surety, burglary and theft, automobile property damage, accident in health, steam boiler, machinery, plate glass, etc. Four classes of insurance business: Life insurance Fire insurance Marine insurance Miscellaneous insurance.

Customer Protection:
Insurance industry has ombudsmen in 12 cities. Each ombudsman is empowered to redress customer grievances in respect of insurance contracts on personal lines where the insurance amount is less than 20 Lakhs, in accordance with the ombudsmen scheme. Address can be obtained from the officers of LIC and other insurers. Page 10
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1.5 COMPANY PROFILE

Introduction: ING is a professionally managed organization with a board of directors consisting of eminent persons who represent various fields including finance, taxation, construction and urban policy & development. The board primarily focuses on strategy formulation, policy and control, designed to increasing value to shareholders. ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 85 million private, corporate and institutional clients in over 40 countries. With a diverse workforce of approximately 125,000 people, ING is dedicated to setting the standard in

helping our clients manage their financial future About ING: ING Vysya Life Insurance (ING Life), a part of the ING Group the worlds largest financial services corporation entered the private life insurance industry in India in September 2001. Headquartered at Bangalore, ING Life India is staffed by over 6,000 employees and services more than 8 lakhs customers. ING Life India is a joint venture between ING Group (ING Insurance International B.V.), Exide Industries, Ambuja Cements Limited and Enam Group. ING Life has a pan India network, and distributes its products through two channels, the Tied Agency Force and the Alternate Channel. The Tied Agency force comprises of over 60,000 ING Life Advisors, spread across the country. The channel has branches in 234 cities, and 366 sales teams across the country. The Alternate Channels business within ING Life is one of the fastest growing distribution channels. The company currently has tie ups with over 200 cooperative bank across the country. The Alternate Channels division has Page 11
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Bancassurance (ING Vysya Bank), Referral Banks, Corporate Agents, Brokers and SMINCE. About ING in India ING operates through three businesses in India, ING Vysya Life Insurance, ING Vysya Bank and ING Investment Management. ING Vysya Bank is a premier private sector bank with over 76-year heritage and 1.5 million satisfied customers. ING Investment Management believes in providing investors with the knowledge & opportunity to manage their future easily. Page 12
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Mission Values and Personality:

Our mission At ING Life, our mission is To set the standard in helping our customers manage their financial future. Our business is driven on our values of Optimism, Knowledgeable, Trustworthy and Transparent.

Optimism: We bear an approach of Optimism towards our company, towards each other, in our products and in our care for our customers interests.

Knowledgeable: We cultivate the knowledgeable value through our robust way of working, sharing and actively communicating.

Trustworthy: We deliver trustworthiness by doing the right things in

right way, by delivering an easier customer experience and by being a socially responsible corporate.

Transparent: Our value of transparent drives our actions, reflects in our products and services. Values and personality Our values are personified by our people through a set of Personality aspects. These personality aspects are: Positive, Professional, Accountable and Transparent.

Positive: ING Life India employees live its value of optimism by bearing a positive and can-do attitude to their work.

Professional: At ING Life India, we expect the highest standard of professional behavior by providing professional advice to customers, by treating customers equitably, abide by companys culture and act with compliance.

Accountable: ING Life India expects employees to be accountable for their actions, words and decisions such that it builds their personal integrity and fosters ING Life Indias value of trustworthiness.

Straightforward: ING Life India expects employees to be straightforward in their conduct and work while dealing with customers and colleagues. Page 13
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1.6

Brand Positioning
The Brand Essence of ING Life is, Experience the joy of fulfilling your responsibility. This essence is captured in the unique brand positioning Mera Farz, developed in 2007. This positioning means, ING Life helps its customers fulfill their responsibilities as provider towards themselves and their families. As part of the ING Group, the worlds largest financial services company, ING Life provides its customers with the strength, reliability and the right balance between long-term savings, security & reasonable returns. This powerful positioning has helped ING Life create a distinct identity for itself. The latest brand campaign in 2008 portrays how key life-stages in our lives, such as marriage, birth of a child, childrens education, retirement, bring unexpected financial worries along with happiness. However, we can overcome these burdens with prudent financial planning and a helping hand from ING Life, thus fulfilling our responsibilities towards our family. Page 14
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1.7

Product Portfolio
ING Life follows a "customer centric approach" while designing its products. The Company's product portfolio offers products that cater to every financial requirement, at all life stages. ING Life has developed an exclusive tool - the LifeMaker
TM

a simple tool which helps our customers choose a plan most suitable to them, based on their needs, requirements and current life stage. This tool helps build a complete financial plan for life at every lifestage, whether the requirement is Protection, Savings, Retirement or Investment. Individual Life Insurance Products ING Life Insurance aims to make customers look at life insurance afresh, not just as a tax saving device but as a means to live life to the fullest. It believes in enhancing the very quality of life, in addition to safeguarding an individual's security. The Company follows a customer centric approach while designing its products. The ING Life product portfolio offers products that cater to every financial requirement, at all life stages. Go ahead and pick your requirement to find life insurance plans that best match your needs. Protection Secure your familys financial future. Savings Save for your aspirations and life goals. Investment Invest now for a better future. Retirement Lead your retired life on your own terms. Page 15
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Protection Plans
Our Protection Plans help you ensure that your family continues to enjoy a comfortable lifestyle even in your absence. We make available a variety of plans to provide you with the flexibility of choosing one that fits your and your familys needs the best. We recognize protection as the basic insurance need and have therefore kept our products comprehensive yet economical for you. So go ahead, get an ING Protection Plan and secure your familys financial future!

ING Term Life Simplest and most economical form of term life insurance. Large sum assured at highly affordable premium rates.

ING Term Life Plus Term insurance product with return of premium. Large sum assured at affordable premium rates.

Saving Plans

Our Saving Plans help you achieve your life goals making them cherished moments for you and your family. They provide you with the flexibility to save for your future requirements while you continue to improve your current lifestyle. Our plans help discipline your savings approach and point your efforts towards defined goals so that whatever stage of life you are in, you are always in control and self-reliant. So go ahead, get an ING Savings Plan to achieve your life goals!

ING New Prime Life (Unit Linked Insurance Plan) Saving cum protection plan with features like loyalty additions, increasing sum assured, accidental coverage and option to extend term.

Reassuring Life Endowment Plan (Reversionary Bonus) Page 16

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Savings plan with a highly reliable safety net for your family in case something happens to you.

Creating Life Child Protection Plan Ideal savings plan for new parents. Payment to child in case of death of parent and at maturity. Future premiums waived in case of death of parent.

Creating Life Money Back Plan Savings plan for new parents with money back. Double benefit of a life cover along with periodic cash returns during the term of the policy.

Safal Jeevan Endowment Plan Comprehensive protection and savings plan with an in-built accident cover. Option to choose from a pre-packaged range of fixed terms and premiums.

Safal Jeevan Money Back Plan Ideal plan as a first life insurance policy. Choose a suitable policy term from pre-packaged solutions. Payouts at regular intervals during policy term.

ING New Creating Star (Unit Linked Insurance Plan)

A perfect plan that helps to ensure that your child has financial support when it is needed the most.

ING Freedom Plan (Unit Linked Insurance Plan) Saving cum protection plan with features like flexible investment strategy, loyalty additions, option to avail survival benefits at regular intervals and additional protection through riders

Investment Plans
Our Investment Plans are created keeping your needs in mind. We appreciate the flexibility required to suit your risk appetite and the commitments you may want to make. Our global expertise in managing wealth for individuals at all Page 17
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stages in their life ensures that we have products to suit your taste whatever your objective of investing may be. So go ahead, get an ING Investment Plan to reach your goals faster!

ING Flexi Life A Unit Linked Insurance Plan with an option to increase / decrease regular premium. Offers Flexibility in premium payment.

ING Flexi Life Plus A Unit Linked Insurance Plan with an option to increase / decrease regular premium. Offers Enhanced Accidental Protection Benefit.

Powering Life Investment plan with high reversionary bonus. Premium payments for a short period of time, life cover for a longer period and high maturity benefits.

New One Life Single premium unit linked insurance plan. Flexibility to choose your life cover. Top-ups as per your convenience.

Platinum Life Plan Investment plan with a 10 year duration. Simple guaranteed additions on sum assured apart from bonuses and loan facility.

New Fulfilling Life Plan Investment plan with double benefit of periodic cash returns during policy term and maturity or death benefit.

Retirement Plans
Our Retirement Plans ensure that you lead your life after retirement on your own terms, doing things you have always dreamt of. We also believe it is important to be in control of your retirement planning. Our innovative features

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help you choose your retirement age and also control the way your investments are managed keeping in mind your retirement needs. So go ahead, get an ING Retirement Plan and retire on your own terms!

ING New Best Years Retirement plan with capital guarantee and plenty of flexibility, to help build a sizeable financial asset for you or your family, in case youre not around.

ING Future Perfect (Unit Linked Insurance Plan) A perfect solution for protection while you earn and regular income after you retire.

ING New Golden Life (Unit Linked Insurance Plan) A unit linked pension plan that allows you to plan your retirement at your own pace.

Group Plans

A variety of plans to provide a cost effective yet comprehensive cover in an efficient manner to all your employees, helping you attract and retain the best of talent.

ING Smart Shield

Group Gratuity

Employee Deposit Linked Insurance

Group Term Life Insurance Plan

Single Premium Level Term Plan Page 19

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Chapter 2
Training Training

Training Training & Development & Development & Development & Development
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2.1 Introduction 6 ( 3 #
Training is an educational process. People can learn new information, re-learn and reinforce existing knowledge and skills, and most importantly have time to think and consider what new options can help them improve their effectiveness at work. Effective trainings convey relevant and useful information that inform participants and develop skills and behaviors that can be transferred back to the workplace. The goal of training is to create an impact that lasts beyond the end time of the training itself. The focus is on creating specific action steps and commitments that focus peoples attention on incorporating their new skills and ideas back at work. Training can be offered as skill development for individuals and groups. In general, trainings involve presentation and learning of content as a means for enhancing skill development and improving workplace behaviors. Organizational Development is a process that strives to build the capacity to achieve and sustain a new desired state that benefits the organization or community and the world around them. (from the Organizational Development Network website) OD work implies creating and sustaining change. An OD perspective examines the current environment, the present state, and helps people on a team, in a department and as part of an institution identify effective strategies for improving performance. In some situations, there may not be anything wrong at the present time; the group or manager may simply be seeking ways to continue to develop and enhance existing relationships and performance. In other situations, there may be an identifiable issue or problem that needs to be addressed; the OD process aims to find ideas

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and solutions that can effectively return the group to a state of high performance. These two processes, Training and Organizational Development, are often closely connected. Training can be used as a proactive means for developing skills and expertise to prevent problems from arising and can also be an effective tool in addressing any skills or performance gaps among staff. Organizational Development can be used to create solutions to workplace issues, before they become a concern or after they become identifiable problem

2.2 Approach Of Training & Development

Traditional Approach Most of the organizations before never used to believe in training. They were holding the traditional view that managers are born and not made. There were also some views that training is a very costly affair and not worth. Organizations used to believe more in executive pinching. But now the scenario seems to be changing. The modern approach of training and development is that Indian Organizations have realized the importance of corporate training. Training is now considered as more of retention tool than a cost. The training system in Indian Industry has been changed to create a smarter workforce and yield the best results Page 22
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2.3 Objectives Of Training And Development

The principal objective of training and development division is to make sure the availability of a skilled and willing workforce to an organization. In addition to that, there are four other objectives: Individual, Organizational, Functional, and Societal. Individual Objectives help employees in achieving their personal goals, which in turn, enhances the individual contribution to an organization. Organizational Objectives assist the organization with its primary objective by bringing individual effectiveness. Functional Objectives maintain the departments contribution at a level suitable to the organizations needs. Societal Objectives ensure that an organization is ethically and socially responsible to the needs and challenges of the society. Page 23
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2.4 Process of Training & Development

Determine the mission of the organization.

Define the job functions/requirements of each employee.

Determine the training needs of the department.

Decide which are the most important objectives/priorities of the organization.

Know how much time/money is available.

Evaluate the curriculum. Does it mirror the objectives, needs, and mission of the organization? Evaluate the results of the training. Page 24
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2.5 Importance Of Training & Development

Optimum Utilization of Human Resources Training and Development helps in optimizing the utilization of human resource that further helps the employee to achieve the organizational goals as well as their individual goals. Development of Human Resources Training and Development helps to provide an opportunity and broad structure for the development of human resources technical and behavioral skills in an organization. It also helps the employees in attaining personal growth. Development of skills of employees Training and Development helps in increasing the job knowledge and skills of employees at each level. Productivity Training and Development helps in increasing the productivity of the employees that helps the organization further to achieve its long-term goal. Team spirit Training and Development helps in inculcating the sense of team work, team spirit, and inter-team collaborations. It helps in inculcating the zeal to learn within the employees. Organization Culture Training and Development helps to developand improve the organizational health culture and effectiveness. Organization Climate Training and Development helps building the positive perception and feeling about the organization. The employees get these feelings from leaders, subordinates, and peers. Page 25
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 Quality Training and Development helps in improving upon the quality of work and work-life. Healthy work environment Training and Development helps in creating the healthy working environment. It helps to build good employee, relationship so that individual goals aligns with organizational goal. Health and Safety Training and Development helps in improving the health and safety of the organization thus preventing obsolescence. Morale Training and Development helps in improving the morale of the work force. Image Training and Development helps in creating a better corporate image. Profitability Training and Development leads to improved profitability and more positive attitudes towards profit orientation. Page 26
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2.6 Methods Of Training

There are various methods of training, which can be divided in to cognitive and behavioral methods. Trainers need to understand the pros and cons of each method, also its impact on trainees keeping their background and skills in mind before giving training. There are various methods of training, which can be divided in to cognitive and behavioral methods. Trainers need to understand the pros and cons of each method, also its impact on trainees keeping their background and skills in mind before giving training. Cognitive methods are more of giving theoretical training to the trainees. The various methods under Cognitive approach provide the rules for how to do something, written or verbal information, demonstrate relationships among concepts, etc. These methods are associated with changes in knowledge and attitude by stimulating learning. The various methods that come under Cognitive approach are: LECTURES DEMONSTRATIONS DISCUSSIONS COMPUTER BASED TRAINING (CBT)

 INTELLEGENT TUTORIAL SYSTEM(ITS) PROGRAMMED INSTRUCTION (PI) VIRTUAL REALITY Behavioral methods are more of giving practical training to the trainees. The various methods under Behavioral approach allow the trainee to behavior in a real fashion. These methods are best used for skill development. Page 27
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The various methods that come under Behavioral approach are GAMES AND SIMULATIONS BEHAVIOR-MODELING BUSINESS GAMES CASE STUDIES EQUIPMENT STIMULATORS IN-BASKET TECHNIQUE ROLE PLAYS Both the methods can be used effectively to change attitudes, but through different means. Another Method is MANAGEMENT DEVELOPMENT METHOD MANAGEMENT DEVELOPMENT The more future oriented method and more concerned with education of the employees. To become a better performer by education implies that management development activities attempt to instill sound reasoning processes. Management development method is further divided into two parts: ON THE JOB TRAINING The development of a manager's abilities can take place on the job. The four techniques for on the job development are: COACHING Page 28
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MENTORING JOB ROTATION JOB INSTRUCTION TECHNIQUE (JIT)

OFF THE JOB TRAINING

There are many management development techniques that an employee can take in off the job. The few popular methods are: SENSITIVITY TRAINING TRANSACTIONAL ANALYSIS STRAIGHT LECTURES/ LECTURES SIMULATION EXERCISES Page 29
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2.7 Training & Evaluation

The process of examining a training program is called training evaluation. Training evaluation checks whether training has had the desired effect. Training evaluation ensures that whether candidates are able to implement their learning in their respective workplaces, or to the regular work routines. Purposes of Training Evaluation The five main purposes of training evaluation are: Feedback: It helps in giving feedback to the candidates by defining the objectives and linking it to learning outcomes. Research: It helps in ascertaining the relationship between acquired knowledge, transfer of knowledge at the work place, and training. Page 30
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Control: It helps in controlling the training program because if the training is not effective, then it can be dealt with accordingly. Power games: At times, the top management (higher authoritative employee) uses the evaluative data to manipulate it for their own benefits. Intervention: It helps in determining that whether the actual outcomes are aligned with the expected outcomes. Process of Training Evaluation Before Training: The learner's skills and knowledge are assessed before the training program. During the start of training, candidates generally perceive it as a waste of resources because at most of the times candidates are unaware of the objectives and learning outcomes of the program. Once aware, they are asked to give their opinions on the methods used and whether those methods

confirm to the candidates preferences and learning style Page 31

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Chapter 3
Data Analysis and Findings
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3.1 Data Collection

Primary data Secondary data Primary data It was collected through questionnaire prepared contains relevant questions that are both close ended and opened. Individual and group interviews also under taken with difference consumers, I have collected mainly the Primary Data for my study by utilizing the questionnaire and interview methods. Secondary data These data are collected from published sources such as Magazines, NEWS papers, several books, and also from the help of web site www.inglife.co.in

(A) Sampling plan of the study:

Sample size: Sample size refers to number of elements to be included in the study several qualitative factors should also be taken into consideration when determining the sample size. These include the nature of research, number of variable, and nature of analysis, sample size used in similar studies incidence rates, completion rates, and resources constraints. During the process of the study, survey has been conducted on 100 retailers. Sampling method: The researcher had choice between probability and non probability sampling methods. In this study a simple non probability method namely convenience sampling was adopted. For my study I have selected Non-probability method in which I selected convincing sampling method.

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(B)FIELD WORK: Survey was done in ING. The data was collected over a period of six weeks, using well structured questionnaire. The respondents were contacted at their respective retail outlets in various parts of the city. Plan of the data analysis: Planning and analysis of data can be done through three steps. They are editing coding tabulation. These three are very important in analyzing the data. Editing: Editing is the process of examining errors when there is some inconsistency in the responses as entered in the questionnaire or where it contains partial or vague answers. Coding: Coding is necessary to carryout the subsequent operations of tabulating and analyzing data. If coding is not done, it will not be possible to reduce a large number of heterogeneous responses into meaningful categories with the result that the analysis of data would be weak and ineffective and without proper focus. Tabulation: Tabulation comprises sorting of the data into different categories and counting the number of cases that belong to category the simplest way to tabulate is to count the number of responses to one question. This is called univeriate tabulation. Where two or more variables are involved in tabulation, it is called bivariate or multivariate tabulation. In marketing research projects and generally both types of tabulation are used. Page 34
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3.2 Date Analysis and interpretation:

Table 1: Age group respondents Age Group No. of respondent Percentage Below 25 31 31% 25 to 35 39 39% 35 to 45 25

25% 45 and above 5 5% Total 100 100% Sources: primary data collected through questionnaire Fig-1 Inference: The above graph shows 39% of respondents having training and development program belong to 25 to 35 age respondents group, 31% of respondents availing belong to below 25 age group and 25% are between 35 to 45age group. Page 35
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Table 2: Which department are you working Working sector No. of respondent Percentage Sales 32 32% Finance 16 16% Marketing 6 6% IT 15 15% Other 31 31% Total 100 100% Sources: primary data collected through questionnaire Fig-2
0 5 10 15 20 25

30 35 Sales FinacnceMarketing IT Other no. of respondents

Inference: The above figure reveals that most of the people 32% are working in Sales and 29% are Other sector Page 36
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Table3: Are you aware of the all types of training program Awareness No. of respondent Percentage Yes 33 33% No 14 14% Have some knowledge 53 53% Total 100 100% Sources: primary data collected through questionnaire Fig-3 Inference: This graph shows that only 33% of people are aware of the aware of training and development program and 53% of people have some knowledge about it. But 14% of people are not aware of the training and development option available to the ING Page 37
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Table4: Do have participate any training program Response No .of respondents percentage Yes 53 53% No

47 47% Total 100 100% Sources: primary data collected through questionnaire Fig-4
44 46 48 50 52 54 Yes No no. of respondents

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Chapter 4
Conclusion and Suggestions
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4.1 Findings & Limitations Of Training & Development

1. Lack of access new international literature and professional practices 2. Lack of systematic management leading to duplication 3. Lack of quality of technical equipments and accessible resources 4. Lack of promotion of self-development 5. Lack of a link between theories and practices 6. lack of necessary knowledge and skills about new learning strategies at all levels; 7. lack of suitable alternative model for in-service training 8. lack of a plan for national implementation and indication of support and commitment by the Government.

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4.2 Suggestions Of Training & Development

1. Necessary knowledge and skills about new learning strategies at all levels; 2. Accreditation of the current teacher training and staff development programs

offered by various providers; 3. A critical mass of local experts to spread the new knowledge and skills throughout the teachers in the country; 4. Suitable alternative model for in-service training; 5. A plan for national implementation; 6. Indication of support and commitment by the government

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4.4 CONCLUSION
The employers should keep in mind these four rules of thumb when designing the companys strategy and solution: Rule #1: Internet technology is the key to a profound revolution in learning. The effects of Internet technology on employee training are indeed profound; however, technology - any technology - should be seen as a tool, not a strategy or final goal. Just because they have good word processing software doesn't mean you write well. Likewise, the Internet cannot, in and of itself, improve the quality of the learning and the content they put on it. The employers need to use Internet technology combined with high quality, effective learning to maximize learning and retention levels. Rule #2: There is an enduring and important role for traditional classroom instruction. People who believe technology will totally replace great teachers in front of classrooms of highly motivated learners are as misguided as those who believe the Internet is a passing fad. The blended learning solution, i.e., a mixture of classroom and Web-based training is the most effective and comprehensive learning strategy. Page 42
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Rule #3: Learning is a continuous, cultural process - not simply a series of workshops. Employees retain about 50% to 60% of what they learn in a formal training workshop. Often, employees forget what they have learned within two months of the workshop. Therefore, access and opportunities to learn should be available to anyone, anywhere, and at any time within an organization. Organizational learning is as much about what happens outside formal learning programs as it is about the programs themselves. Rule #4: Strategy development and implementation are never really finished. Employers change as their business changes. They adjust it as their people become more skilled and knowledgeable. The employers redefine it as new technology options become available. And, they constantly test it against the mission and vision of their business, making sure they are always in alignment.

Due to training there is greater stability, flexibility and capacity for growth in an organization. Accidents, scrap and damage to machinery and equipment can be avoided or minimized through training. Even dissatisfaction, complaints, absenteeism, and turnover can be reduced if employees are trained well. Future needs of employees will be met through training and development programmes. Organizational take fresh diploma holders or graduates as apprentices or management trainees. They are absorbed after course completion. Training serves as an effective source of recruitment. Training is an investment in HR with a promise of better returns in future. Though no single training programme yields all the benefits the organization which devotes itself to training and development enhances its HR capabilities and strengthens its competitive edge. At the same time, the employees personal goals are furthered, generally adding to his or her abilities and value to the employer. Ultimately, the objectives of the HR department and also of the organization are also furthered. Page 43
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Bibliography
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BIBLIOGRAPHY
REFERENCES: List of websites:

www.irda.com
www.inglife.co.in

List of Books & Magazines: Marketing Management- ICFAI publication Marketing Management- Philip kotler Outlook- the Laymans Guide to Insurance Business line IRDA Journal

List of News Papers: Business Line Economics Times Page 45

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Questionnaire
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QUESTIONNARE:
I am currently doing my project in ING Company. As a part of my study I am collecting information of the existing customers to know the consumers perception on value added services provided by ING Vysya Life Insurance I kindly request you to fill the following questionnaires. Please [ ] the answer (1) What is your name? (2) Which age group do you belong to?
[ ] less than 25years, [ ] 25 to 35 tears, [ ] 35 to 45 years [ ] above 45years

(3) Which department are you working? [ ] Sales [ ] Finance [ ] Marketing [ ] IT [ ] others (4) Are you aware of the all types of training program [ ] Yes [ ] No [ ] Have some knowledge (5) Do have participate any training program ? [ ] Yes [ ] No (6) Are you satisfied of training and development program ? [ ] Yes

[ ] No (7) Tanning and development policy provide any benefit? [ ] Yes [ ] No (8) Which type of training you take ? [ ] Short term [ ] Medium term [ ] Long term (9) Training and development program increases yours ? [ ] Working efficiency [ ] Confidence [ ] Non (10) What is your opinion towards the training and development program by ING Vysya Life Insurance? [ ] Average [ ] Aggressive [ ] Excellent [ ] professional