Training Program to Eliminate Clients Misconception

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Training Program to eliminate clients misconceptions about life

insurance policy: A Group project submitted to American

International University-Bangladesh

Prepared and submitted by-

A research paper Submitted to Mr. A. K. Nazmul, Assistant Professor, AmericanInternational University-Bangladesh, in partial fulfillment of

the requirements for Training and Development Course.

Name- Umma Sumaia

ID 05-0595-2

Name Khandaker Faria

ID 06-07116-2

Name Akhtar Naznin

ID 06-06691-2

Name Khan MD Saquib

ID 07-07642-1

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2/20

Spring 2008

Dhaka, Bangladesh

April 27, 2009

To:

Mr. A.K.Nazmul

Assistant Professor

American International University BangladeshBanani, Dhaka

Subject: Letter of Transmittal

Dear Sir,

Attached please f ind the Group Project Report on ``Training program to

eliminate cl ients misconceptions on l ife insurance policy that you have

ass igned us to prepare. We the group members have collected var ious

primary data and accumulated workable secondary data from internet andbooks. We have coiled those data furnished through this report . I t wil l be

s t il l a unique scope for us to learn more about the subject by clar i fying

any observations if you have arising from the paper.

We are grateful to you for your cont inuous guidance in prepar ing the

Group Project Report.

Sincerely yours,

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KHAN , MD.S AQ UI B KHANDAKER FARIA

AKHTAR NAZNIN UMMA SUMAIA

ACKNOWLEDGEMENT

We would l ike to express ou r g ra t i tude to the employees o f

American Li fe Insurance Company Limi ted and themanagement of AIUB for providing us a use fu l and

c o mfo r ta b le l e arn in g e n vi ron men t . We w o ul d a l so l i ke t o

t ha nk o ur c ou rs e i ns tr uc to r M r. A .K . N az mu l, A ss is ta nt

Pro fesso r, Amer ican In te rna t iona l Un ive rs i ty Bang ladesh

fo r h i s k i n d , c o n t i n u o u s g u i d a n c e a n d r e l e n t l e s s e f fo r t s t o

make our Group Pro jec t Report a worth one . We bel ieve tha t

fo r h i s e f fo r t and gu idance we wi l l be ab le to p repa re a rea l

t ra in ing program working in an organiza t ion .

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Table of Contents:

Contents

1. Introduction to the Organization5

Regional Office

ALICO BDBusiness Operations

ALICOs Contribution to the Society

2. Introduction to the Study7

Scope of the Study

Methodology

3. Needs Assessment..9

Why needs assessment necessary

Methods used in needs assessmentOrganizational Analysis

Person Analysis

Task Analysis

4. Ensuring Employees Readiness of Training..14

5. Creating a Learning Environment.14

6. Ensuring Transfer of Training...15

7. Developing an Evaluation Plan.15

8. Selecting Training Method15

9. Implementation..16

10. Monitoring and Evaluating the Program.....17

11. Conclusion...17

.

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12. Appendix-A: Survey Report Questionnaire18

Evaluation of program

13. Bibliography20

Introduction to the Organization [ 1 ]

A me ri ca n L if e I ns ur an ce C om pa ny ( AL IC O) , a s ub si di ar y o f

A m er i ca n I n te r na t io n a l G r o u p , I n c. ( A IG ) , i s o n e o f t h e l a rg e stI nt er n at io n al L if e i ns ur an c e c o mp an ie s i n t h e w o rl d. A LI CO s

b r a n c h e s a n d s u b s i d i a r i e s m a r k e t a w i d e r a n g e o f l i f e a n d h e a l t h

i n su r an c e p r od u ct s , i n cl u di n g t r ad i ti o na l , v a ri a bl e u n iv e rs a l a n d

c r ed i t l i fe i n su r an c e , a s w e ll s u pp l e me n t al m e d ic a l a n d p e rs o na l

a c c i d e n t p r o d u c t s , h e a l t h a n d h o s p i t a l i z a t i o n i n s u r a n c e , g r o u p l i f e ,p e n s i on s a n d a n n u i t i e s t h r o u g h a v a r i et y o f c h a n n e ls . T h e c o m p a n y

o p e r a t e s i n m o r e t h a n 1 3 5 c o u n t r i e s a n d r e g i o n s a r o u n d t h e w o r l di nc l ud i ng J apan , Eur ope , t he Mi dd l e Eas t , S ou t h As i a , La t i n Amer i ca

and t he Car i bbean .

Regional Off ice :

T h e r e g i o n a l o f f i c e o f t h e c o m p a n y a t S h a r j a h , D u b a i , o v e r s e e s t h e

a d m i n is t r a ti v e a n d b u s i ne s s a f f ai r s o f A l i c o B a n g l a d e s h. I t i n v e st si t s e nt ir e in ve sta bl e s ur pl us l oc al l y, mo st ly in g ov ern me nt

s e c u r it i e s/ b a n k s a n d s h a r e s/ s t oc k s o f c o m p a n ie s , t h e r eb y a l l o wi n gus age o f i t s p r ogr es s i ve l y i nc r eas i ng f und i n s uch pub l i c i n t e r es t s a si nf ra st ru c tu re d ev e lo p me n t, i nd u st ri al is at io n a n d e mp lo ym en t

gener a t i on .

ALICO BD:

A m e r i c a n L i f e I n s u r a n c e C o m p a n y ( A l i c o B a n g l a d e s h ) s t a r t e d f u l ls e r v i ce b r anch ope r a t i ons i n Bang l ades h on 15 J anuar y 1974 and has

s in c e t he n b ee n m ar ke ti ng i nd i vi du al a nd g ro u p l if e i ns ur an ce

p r o d u c ts u n d e r t h e I n s u ra n c e A c t 1 9 3 8 , I n s u r a n c e R u l e s 1 9 5 8 , a n d

o t h e r a p p l i c a b l e l a w s . A l i c o , i n c o rp o r a t e d i n 1 9 2 1 i n W i l m in g t o n ,D e l a w ar e , U S A , i s t h e l a r g e s t i n t e r n a ti o n a l l i f e i n s u ra n c e C o m p a n y

i n t h e w o r l d. I t i s a m e m b er c o m p a n y o f t h e A m e ri c a n I n t e r n a ti o n a l

G r o u p ( A I G ) t h a t o p e r a t e s l i f e i n s u r a n c e b u s i n e s s e s i n m o r e t h a n1 35 c ou nt ri es . A me ri ca n L if e I ns ur an ce C om pa ny B an gl ad es h

( r e f er r e d t o a s t h e c o m p a n y h e r e a f te r ) r u n s i t s b u s i n e s s t h r o u g h i t s

a g e n c y o f f i c e s s c a t t e r e d m o s t l y i n b i g c i t i e s s u c h a s D h a k a ( 4 3 ) ,

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Chi t t agong ( 9 ) and Khu l na ( 3 ) . Over 7 ,900 ca r ee r agen t s a r e wor k i ng

f o r t h e c o mp a n y. T h e c o m p a n y h a s a t r ai n ed a n d d e d ic a t ed w o rk

f o r ce o f 240 empl oy ees i n Bang l ades h .

Business operat ion:

N e t p r e m i u m i n c o m e r e c e i ve d b y t h e c o m p a n y f r o m d i r e c t b u s i n e s s

i n 1 99 9 w as T k 1 , 89 6 .7 5 m il l i on a s a ga in st T k 2 1. 1 2 m il l i on i n1 9 81 . T he f ig ur es i nc lu d e b ot h n e w o r f ir st y ea r p re mi um s a nd

r enewa l p remiu ms de r iv ed f r o m i t s v ar i ous l i f e i n s u ran ce

p l an s /s c h em e s s u ch a s o r di n ar y l if e p o li c ie s , p e rs o na l a c c id e nt

p r o t e c ti o n , g r o u p l i f e , g r o u p m e d i c al , a n d o r d i n ar y t e r m i n s u r a n c e .R e - i n su r a n c e p r e m i u m p a i d b y t h e c o m p a n y t o i t s r e - i n s ur e r a b r o a d

was Tk 0 .3 2 mi l l io n in 199 9, when i t p aid a n et a moun t o f commi s s i on o f Tk 333 .94 mi l l i on . Ne t c l a i ms s e t t l ed by t he company

dur i ng t he y ea r amoun t ed t o Tk 75 .11 mi l l i on .

A p a r t f r o m n e t p r e m i u m i n c o m e d e r i v e d f r o m d i r e c t l i f e i n s u r a n c e bus i nes s , t he company ea r ned Tk 514 .81 mi l l i on i n 1999 as i n t e r es t ,

d i v i d e nd , a n d r e n t i n c o m e . M a j o r i n v e s t m e n ts o f t h e c o m p a n y w e r e

i n s ho rt t er m d ep os it s w it h b an k s, n a ti on a l i nv es tm en t b on d s,P r a t i r akkha S anchay a P a t r a , s ha r es o f compan i es , I CB- mut ua l f unds ,

po l i cy l oans t o ho l de r s , f i xed depos i t s and pe r manen t i nves t men t i n

r e a l e s t a t e . T h e a s s e t s o f t h e c o m p a n y w e r e v a l u e d a t T k 5 , 9 0 0 . 2 7m i l l io n a n d t h e r e v e n u e s u r p l u s s t o o d a t T k 1 , 0 4 2 . 2 9 m i l l i o n i n t h e

r e f e r ence y ea r.

ALICOs contr ibut ion to the soc ie ty :

A L IC O p l a ys a n i m po r ta n t r o l e i n t h e e c o n o m y o f B a n gl a de s h. I t s

a s s e t s i n B a n g l a d e s h c u r r e n t l y e x c e e d T K . 2 , 1 0 0 C r o r e w i t h m o r et h a n 7 , 9 0 0 c a r e e r a g e n t s a n d m o r e t h a n 2 4 0 d e d i c a t e d e m p l o y e e s ,

ALI CO i s a ma j o r empl oy er i n t he coun t r y.

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Introduction to the study [ 2 ]

Tr ai ni ng r ef er s t o p la nn ed e ff or t b y a c om pa ny t o f ac il it at e

e mp lo ye es l ea r n in g o f j ob re l a ted compe tenc i es . Thes ec o mp e te nc ie s i nc lu d e k no w le dg e , s ki ll s, o r b eh a vi or s t ha t a re

c r i t i c a l f o r s u c c e s s f u l j o b p e r f o r m a n c e . T h e g o a l o f t r a i n i n g i s f o r

empl oy ees t o mas t e r t he c r i t i ca l f o r s ucces s f u l j ob pe r f o r mance . The

goa l o f t r a i n i ng i s f o r empl oy ees t o mas t e r t he knowl edge , s k i l l , and

b e h av i o rs e m ph a si z ed i n t r ai n in g p r og r am s a n d t o a p p ly t h e m t ot h e i r d a y - t o - d a y a c t i v i t i e s . R e c e n t l y i t h a s b e e n a c k n o w l e d g e d t h a t

t o g a i n a c o m p e t i t i v e a d v a n t a g e , t r a i n i n g h a s t o i n v o l v e m o r e t h a n j us t b as ic s ki ll d ev e lo p me n t. T h is i s t o u se t ra in in g t o g ai n a

c o m p e t i t i v e a d v a n t a g e ; t r a i n i n g s h o u l d b e v i e w e d b r o a d l y a s a w a y

t o c r ea t e i n te l le c t ua l c a p it a l. I n te l le c tu a l c a p it a l i n c lu d e s b a si cs k i l l s ( s k i l l s needed t o pe r f o r m one s j ob ) , advanced s k i l l s ( s uch as

h o w t o u s e t e c h n o l o g y t o s h a r e i n f o r m a t i o n w i t h o t h e r e m p l o y e e s ) ,

an under s t and i ng o f t he cus t omer o r manuf ac t u r i ng s y s t em, and s e l f -

mot i va t ed c r ea t i v i t y.

T he t ra in in g d es ig n p ro ce ss r ef er s t o a s ys te m at ic a p pr oa c h f or deve l op i ng t r a i n i ng p r ogr ams . Ther e a r e s even s t eps i n t h i s p r oces s .S te p 1 i s t o c o nd uc t a n ee ds a ss es sm en t, w hi ch i s n ec es sa ry t o

i d e n t i f y i f t r a i n i n g i s n e e d e d . S t e p 2 i s t o e n s u r e t h a t e m p l o y e e s

h a v e t h e m o t i v a t i o n a n d b a s i c s k i l l s n e c e s s a r y t o m a s t e r t r a i n i n gc o nt en t . S te p 3 i s t o c re a te a l ea rn in g e n vi ro n me n t t ha t h a s t he

f ea t u r es neces s a r y f o r l ea r n i ng t o occur . S t ep 4 i s t o ens u r e t ha t has

t he f ea t u r es neces s a r y f o r l ea r n i ng t o occur . S t ep 4 i s t o ens u r e t ha tt r a i n ee s a p p l y t h e t r a i n i n g c o n t e n t o n t h e i r j o b s . T h i s s t e p i n v o lv e s

h a v i n g t h e t r a i n e e u n d e r s t a n d h o w t o m a n a g e s k i l l i m p r o v e m e n t a s

w e l l a s g e t t i n g c o w o r k e r a n d m a n a g e r s u p p o r t . S t e p 5 i s t o d e v e l o p

a n e va lu at i on p la n. D ev elo pin g a n e va lu at io n p la n i nc lu de si den t i f y i ng wha t t y pes o f ou t comes t r a i n i ng i s expec t ed t o i n f l uence

( f or e x a mp l e, l e ar n in g , b e h av i or, s k il l s) , c h o os i ng a n e v al u a ti o n

d e si g n t h at a l lo w s y o u t o d e te r mi n e t h e i n f l ue n c e o f t r ai n in g o nt he se o ut co me s, a n d p la nn i ng h ow t o d em on st ra te h ow t ra in in g

a ff e c ts t h e ` ` bo t to m l i ne ( th a t i s u s in g c o st b e n ef i t a n a ly si s t o

d e t e r m i n e t h e m o n e t a r y b e n e f i t s r e s u l t i n g f r o m t r a i n i n g ) . S t e p 6 i s

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t o c h o o s e t h e t r a i n i n g m e t h o d b a s e d o n t h e l e a r n i n g o b j e c t i v e s a n d

l e a r n i n g e n v i r o n m e n t . T h i s s t e p m a y i n c l u d e a t r a d i t i o n a l t r a i n i n g

met hod o f f ace t o f ace i n t e r ac t i on wi t h a t r a i ne r o r e - l ea r n i ng us i ngC D - R O M o r w e b b a s e d t r a i n i n g . S t e p 7 i s t o e v a l u a t e t h e p r o g r a m

a n d m a k e c h a n g e s i n i t o r r e v i s i t a n y e a r l i e r s t e p s i n t h e p r o c e s s t o

i m p r o v e t h e p r o g r a m s o t h a t l e a r n i n g , b e h a v i o r , c h a n g e a n d o t h e r l ea r n i ng ob j ec t i ves a r e ob t a i ned .

T h e p r i m a r y o b j e c t i v e s o f ALICO i s t o s e l l a s m u c h a s i n s u r a n c e p o li c y a s p o ss i bl e . T h e c o mp a n ys p r o du c t i s i n su r an c e p o li c y.

Ther e f o r e t he i r bus i nes s i s d i f f e r en t t han o t he r i ndus t r i e s .

ALICO B D h a s 1 3 0 a g e n c i e s i n B a n g l a d e s h . E v e r y a g e n c y h a s am a n g e r . T h e m a n a g e r s r e s p o n s i b i l i t y i s t o m a n a g e t h e e m p l o y e e s

and encour ag i ng t hem t o s e l l mor e p r oduc t s . The money ga i ned f r om

p re mi um s i s i nv es te d i n N IB o f B an gl ad es h B an k. I n A LI CO ,w h e n e v e r a p e r s o n j o i n s t h e c o m p a n y , a b a s i c t r a i n i n g i s g i v e n t o

h i m . L a t e r w o r k i n g i n t h e p r a c t i c a l e n v i r o n m e n t , w h e n t h a t p e r s o n

i m p r ov e s h i s / h e r s k i l l s h e / s h e h a s w i d e o p p o r t u n i ti e s t o p a r t i ci p a t ea n y o n g o i ng t r a in i n g p r o g r a m s . T h e i n f o rm a t i on o n c u r r e n t t r a i n in g

p r og r a ms c a n b e f o un d o n n o ti c e b o ar d s a n d c o mp a n y w e b - s it e s.

ALI CO i s a f u l l y d i g i t a l i zed ; member s he r e can s ee t he i r p r o f i l e andc h e c k i n d i v i d u a l p e r f o r m a n c e . T h e c o m p a n y h a s a l e a d e r s c l u b , i n

whi ch 20% t he agen t s a r e cons i de r ed bes t pe r f o r mi ng agen t s . ALI CO

h a s p r o f e s s i o n a l t r a i n e r s i n t h e f i e l d , t h e y n o r m a l l y h i r e i n h o u s e

t ra in e rs b u t s o me t im es t he y i nv it e f or ei gn t ra in e rs t o t ra in t het r a i ne r s .

Scope of the s tudy:

I n t h i s t r a i n i n g p r o g r a m d e s i g n w e w a n t t o t r a i n t h o s e c o n s u l t a n t s

w h o a r e h a v in g p r ob l em s i n s e ll i ng t h e p o li c ie s . A l t ho u g h t h es e p ro fe ss io na ls h a s a t te nd e d t he b as ic t ra in i ng p ro gr a ms b e fo re

j o i n i n g , b u t t h e y a r e s t i l l f a c i n g p r o b l e m s i n d e a l i n g w i t h v a r i o u s

c l ie n ts m i sc o n ce p ti o ns a b ou t l i fe i n su r an c e p o li c ie s . B e c au s e t h e p ub li c mi sc on ce pt io n i s a p ro ble m c an t b e h an de d w it ho ut

e x pe ri en ce . T he c on su lt an ts s ho u ld b e g iv en a b as ic k no wl ed g e

a b o ut t h e t y pe s o f m i sc o nc e p ti o ns a n d a n i n te l li g en t a p p ro a c h o f

c l ea r i ng i t t h r ough d i a l ogues .

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1 s o u r c e : W W W . . A L I C O : A n A I G C o m p a n y . c o m 2 N o e , E m p l o y e e T r a i n i n g a n d D e v e l o p m e n t

Methodology:

I n o r d e r t o p r e p a r e a t r a i n i n g p r o g r a m f o r t h e c o m p a n y , w e h a v e

made s ome neces s a r y a r r angement s f o r i n f o r mat i on .

P r i mary Source: We h a v e a p pr o ac h e d t o a n I n su r an c e C o ns u lt a nt

and he p r ov i ded us s ome gener a l i n f o r mat i on abou t t he company . Bu t

i n o r d e r t o g e t r a w i n f o r m a t i o n w e h a v e t o c o n d u c t a n e m p l o y e e

s u r v e y w h i c h r e q u i r e s a n a p p r o v a l f r o m t h e h e a d o f t h e t r a i n i n gd ep ar tm en t, s in ce s om e o f t he d at a i s s en si ti ve . We w il l a ls o

i nt er vi ew t he H e ad o f t he t ra in in g d e pa rt me n t t o f in d v al ua b le

i n f o r mat i on .

Secondary Source: We h a v e c o l l e c t e d s o m e p a p e r s w h i c h d e a l w i t h

t h e t r a i n i n g p r o g r a m d e s i g n . W e h a v e a l s o s e a r c h e d t h e c o m p a n yweb s i t e f o r i n f o r mat i on ( ht tp : / /www.a l ico .com) and Bang laped ia .W e w i l l a l s o l o o k f o r t h e H o me p a g e f o r A m e r i ca n S o c ie t y f o rTr a in in g a n d D e v e lo pm e n t , a c c e s s t o T r a i n i n g a n d D e v e l o p m e n t www.astd .org

Need Assessment: [ 3 ]

N e e d a s s e s s m e n t r e f e r s t o t h e p r o c e s s u s e d t o d e t e r m i n e w h e t h e r t r ain in g i s n ec es sa ry. N ee d a ss ess me nt t yp ic al ly in vo lv es

o rg an iz at io na l a na lys is , a nd t as k a na lys is . A n o rg an iz at io na l

ana l y s i s i nvo l ves de t e r mi n i ng t he appr opr i a t enes s o f t r a i n i ng , g i vent he company s bus i nes s s t r a t egy, i t s r e s our ces ava i l ab l e f o r t r a i n i ng ,

a n d s u p p o r t b y m a n a g e r s a n d p e e r s f o r t r a i n i n g a c t i v i t i e s . P e r s o n

a n al ys is h el ps t o i de nt i t y w h o n ee ds t ra in i ng . P er so n a na l ys is

i n v o l v es ( 1 ) d e t e r mi n i n g w h e t h er p e r f o rm a n c e d e f i ci e n c i e s r e s u l t

f r om a l ack o f knowl edge , s k i l l , o r ab i l i t y ( a t r a i n i ng i s s ue ) o r f r oma m o t i v a t i o n a l o r w o r k - d e s i g n p r o b l e m , ( 2 ) i d e n t i f y i n g w h o n e e d s

t r a i n i ng , and ( 3 ) de t e r mi n i ng empl o y ees r ead i nes s f o r t r a i n i ng . Tas k a n a ly si s i d en t if i es t h e i m po r ta n t t a sk s a n d k n ow l ed g e , s k il l , a n d

b e h a v i o r s t h a t n e e d t o b e e m p h a s i z e d i n t r a i n i n g f o r e m p l o y e e s t o

compl e t e t he i r t a s ks .

9
http://www.alico/http://www.alico/http://www.bdyellowbook.com/go/20223/373536343e37343033613b66326636613661366030663665373b323136333332326537333e323562http://www.alico/http://www.bdyellowbook.com/go/20223/373536343e37343033613b66326636613661366030663665373b323136333332326537333e323562


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Why needs Assessment Necessary: [ 4 ]

Need as s es s men t i s t he f i r s t s t ep i n t he i ns t r uc t i ona l des i gn p r oces s ,

and i f i t i s no t p r ope r l y conduc t ed any one o r mor e o f t he f o l l owi ng

s i t ua t i ons cou l d occur .

Tr a i n i ng may be i ncor r ec t l y us ed as a s o l u t i on t o a

pe r f o r mance p r ob l em ( when t he s o l u t i on s hou l d dea l w i t h

empl oy ee mot i va t i on , j ob des i gn , o r a be t t e r communi ca t i on o f pe r f o r mance expec t a t i ons ) .

Tr a i n i ng p r ogr ams may have t he wr ong con t en t , ob j ec t i ves o r

me t hods .

Tr a i nees may be s en t t o t r a i n i ng p r ogr ams f o r wh i ch t hey do

no t have t he bas i c s k i l l s , p r e r equ i s i t e s k i l l s , o r conf i dence

needed t o l ea r n .

Tr a i n i ng wi l l no t de l i ve r t he expec t ed l ea r n i ng , behav i o r

change , o r f i nanc i a l r e s u l t s t ha t company expec t s .

Money wi l l s pen t on t r a i n i ng p r ogr ams t ha t a r e unneces s a r y

becaus e t he y a r e un r e l a t ed t o t he company s bus i nes s s t r a t egy.

T he re a re m an y p re ss ur e p oi nt s t ha t s ug ge st t ha t t ra in in g i s

neces s a r y. Thes e p r es s u r e po i n t s i nc l ude pe r f o r mance p r ob l ems , new

t e c h n o lo g y, i n t e rn a l o r e x t e r n al c u s to m e r r e q u e s t s f o r t r a i n i n g , j o br edes i gn , new l eg i s l a t i on , and changes i n cus t omer p r e f e r ences , new

p r o d u c t s , a n d o r t e m p l o y e e s l a c k o f b a s i c s k i l l s . N o t e t h a t t h e s e

p r es s u r e po i n t s do no t gua r an t ee t ha t t r a i n i ng i s t he co r r ec t s o l u t i on .F or e xa mp le , a d el iv er y t ru ck d ri ve r w ho se j ob i s t o d el iv er

a n e s t h e t i c g a s e s t o m e d i c a l f a c i l i t i e s . T h e d r i v e r m i s t a k e n l y h o o k s

u p t he s up pl y l in e o f a m il d a ne st he ti c t o t he s up pl y l in e o f ah o sp it al s o x yg e n s ys te m, c o nt am in a ti ng t he h o sp it a ls o x yg e n

s u p p l y . W h y d i d t h e d r i v e r m a k e t h i s m i s t a k e , w h i c h i s c l e a r l y a

p e rf or ma n ce p ro b le m? T h e d ri ve r m ay h a ve m ad e t hi s m is ta k e b e c a u s e o f a l a c k o f k n o w l e d g e a b o u t t h e a p p r o p r i a t e l i n e h o o k u p

f o r t he anes t he t i c , becaus e o f anger ove r a r eques t ed s a l a r y i nc r eas e

t h a t t h e d r i v e r s m a n a g e r r e c e n t l y d e n i e d , o r b e c a u s e o f m i s l ab e l e d

v a l v e s f o r c o n n e c t i n g t h e g a s s u p p l y . O n l y t h e l a c k o f k n o w l e d g e

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c a n b e a d d r e ss e d b y t h e t r ai n i n g. T h e o t h e r p re s s u re p o i n t s r eq u i r e

a d d r e s s i n g i s s u e s r e l a t e d t o t h e c o n s e q u e n c e s o f g o o d p e r f o r m a n c e

or t he des i gn o f t he wor k env i r onment .

3

N o e , E m p l o y e e T r a i n i n g a n d D e v e l o p m e n t4 N o e , E m p l o y e e T r a i n i n g a n d D e v e l o p m e n t

Methods used in Needs Assessment: [ 5 ]

Observat ion: Obs er va t i ons gene r a t e da t a wh i ch a r e r e l evan t t o wor k

e n v ir o n me n t. I t m i ni m iz e s i n te r ru p ti o n t o w o rk . B u t i t r e qu i re s

s k i l le d o b s e r ve r a n d e m p l o ye e s b e ha v i o r m a y b e a f fe c t e d b y b e i n gobs e r ved .

Quest ionnaires : Q ue st io n na ir es a re i ne x pe ns iv e t o o pe ra te a n dt h e r e f o r e c a n c o l l e c t d a t a f r o m a l a r g e n u m b e r o f p e r s o n s . B u t i t

r equ i r e s t i me and s omet i mes p r ov i des i nappr opr i a t e r e s pons es .

Interv iews: I n t e r v i e w s a r e g o o d a t u n c o v e r i n g d e t a i l s o f t r a i n i n g

n e e d s a s w e l l a s c a u s e s a n d s o l u t i o n s o f p r o b l e m s . I t c a n e x p l o r e

u n a nt i ci p at e d i ss u es t h at c a me u p a n d t h e re f or e q u es t io n s c a n b e

modi f i ed . Th i s me t hod i s t i me cons umi ng , d i f f i cu l t t o ana l y ze , needss k il l ed i n te r vi e we r, c a n b e t h re a te n in g t o S ME s a n d d i ff i cu l t t o

s chedu l e .

F o c u s g r o u p s : I t i s u s e f u l w i t h c o m p l e x a n d c o n t r o v e r s i a l i s s u e s

t ha t one pe r s on may be unab l e o r unwi l l i ng t o exp l o r e . Ques t i on can

b e m o di f ie d t o e x pl o re u n an t ic i pa t ed i s su e s. T h is m e th o d i s t i mec o n s u mi n g t o o r g a ni z e , g r o u p m e m b e r s o n l y p r o v id e s i n f o r ma t i o n

t hey t h i nk t hey p r ov i de t he i n t e r v i ewer wan t t o hea r . Gr oup member s

m a y b e r e lu c ta n t t o p a rt i ci p at e i f s t at u s d i ff e re n ce e x is t s a m on gmember s .

Documentat ion: I t i s g o o d s o u r c e o f i n f o r m a t i o n o n p r o c e d u r e a n d

g o od s ou rc e f or t as k i nf or ma ti on . B u t u n de rs ta nd in g t ec h ni ca ll anguage may be d i f f i cu l t .5 N o e , E m p l o y e e T r a i n i n g a n d D e v e l o p m e n t

We w il l f ol lo w i nt er vi ew s a nd o bs er va ti on s t o c on du ct n ee ds

as s es s men t .

Needs As s es s men t t y p i ca l l y i nvo l ve :

Or gan i za t i ona l ana l y s i s

P er s on ana l y s i s

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Task analys i s

Organizat ional analys is :

O r g a ni z a t io n a l a n a l ys i s i n v o l ve s i d e n t if y i n g w h e t h er s u p p o rt s t h e

c om pa nys s tr at eg ic d ir ec ti on ; w he th er m an ag er s, p ee rs , a ndempl oy ees s uppor t t r a i n i ng ac t i v i t y ; and wha t t r a i n i ng r e s our ces a r e

ava i l ab l e . S ome combi na t i on o f document a t i on , i n t e r v i ews , o r f ocus

g r o u p s o f m a n a g e r s a n d i n d i v i d u a l s i n t h e t r a i n i n g f u n c t i o n s h o u l dbe us ed t o ans wer t hes e ques t i ons . [ 6 ]

O u r t r a i n i n g p r o g r a ms m a i n i n t e n ti o n i s t o h e l p t h e n e w l y r e c r u i t s .

T he t ra in in gs m ai n p ur po se i s t o p ro vi de t he a ge nt s w it h t hek n o wl e dg e o n p r os p ec t s m i su n d er s ta n d in g s a b ou t l i fe i n su r an c e

po l i c i e s and how t o p r ov i de co r r ec t i ve and s k i l l f u l ac t i ons . I n o r de r

t o know whe t he r t r a i n i ng wi l l he l p t hem i mpr ov i ng t he pe r f o r mance ,we have t o conduc t o r gan i za t i on ana l y s i s .

A ft er c on d uc ti ng t he a na l ys is , w e h a ve f in d t ha t A LI CO s m ai ns t r a t e g y i s t o p r o d u c e a s k i l l e d a n d m o t i v a t e d a g e n t s w h o w i l l b e

s e l l i n s u r a nc e p o l i c i e s t o t h e p r o s p e c t s a n d e x p a n d t h e b u s i n es s . I n

o r de r t o do t h i s t r a i n i ng i s r equ i r ed . Ever y y ea r ALI CO s pends hugea m o u n t s o f m o n e y o n t r a i ni n g . T h e c o m p a n y' s t r a in i n g d e p a r t m e n t ss i tu a te d i n h e ad q u ar t er. T h e y f o ll o w v i rt u al t r ai n in g m o de l . T h i s

m e a n s i f a n a g e n t i s c o n c e r n e d a b o u t h i s / h e r d e v e l o p m e n t w a n t s t o

a t te n d a t ra i ni n g p r og r a m, s u ch a s ` ` ma n a gi n g c o rp o ra t e s a le s h e / s h e c a n c o n s u l t w i t h t h e a g e n c y m a n a g e r o r s e n d a n a p p l i c a t i o n

d ir ec tl y a t h ea d qu a rt er. T h e i de a i s t ha t e v er yo n e s ho u ld h as t o

i d e n t i f y t h e i r w e a k n e s s a n d s h o u l d b e r e s p o n s i b l e f o r h i s / h e r o w ns k i l l deve l opment .

I n t h i s o r g a n i z a t i o n e v e r y o n e n o r m a l l y s u p p o r t s t r a i n i n g w h i c h i s

r e l a t ed wi t h t o i mpr ov i ng s a l e s ac t i v i t y . Becaus e t he i r commi s s i on i sbas ed on t h e number o f po l i c i e s t hey s e l l .

Person analys is :

P e r s on a n a l ys i s h e l p s t o i d e n t if y e m p l o y e e s w h o n e e d t r a i n i n g, t h a t

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i s , whe t he r cu r r en t pe r f o r mance o r expec t ed pe r f o r mance i nd i ca t e s a

need f o r t r a i n i ng . The need f o r t r a i n i ng may r e s u l t f r om t he p r es s u r e

po i n t s . Read i nes s f o r t r a i n i ng r e f e r s t o whe t he r ( 1 ) empl oy ees havet he p er so na l c ha ra ct er is ti cs ( ab il it y, a t t it ud es , b el ie fs , a nd

m o t i v at i o n s ) n e c e ss a r y t o l e a r n p r o g r a m c o n t e n t a n d a p p l y i t o n t h e

j o b a n d ( 2 ) t h e w o r k e n v i r o n m en t a l w i l l f a c i li t a t e l e a r n i ng a n d n o ti n t e r f e r e wi t h pe r f o r mance . Th i s p r oces s i nc l udes eva l ua t i ng pe r s on

char ac t e r i s t i c s , i npu t , ou t pu t , cons equences , and f eedback . P e r s ona l

cha r ac t e r i s t i c s r e f e r t o t he empl oy ees knowl edge , s k i l l , ab i l i t y , anda t t i t u d e s . I n p u t r e l a t e s t o t h e i n s t r u c t i o n s t h a t t e l l e m p l o y e e s a r e

g i v e n t o h e l p p e r f o r m . I n p u t a l s o r e f e r s t o t h e r e s o u r c e s t h a t t h e

e mp lo ye e s a re g iv en t o h el p t he m p er fo r m. T he se r es ou rc e s a re

e q u i p m e n t , t i m e , o r b u d g e t . O u t p u t r e f e r s t o t h e j o b s p e r f o r m a n c es ta nd ar ds . C on se qu en ce s r ef er t o t he t yp e o f i nc en ti ve s t ha t

e mp lo ye e s r ec ei v e f or p e rf or mi n g w el l. F ee db ac k r ef er s t o t he

i nf or ma ti on t ha t e mp lo ye es r ec ei ve w hi le t he y a re p e rf or mi ng .

M ot iv at io n t o l ea rn i s t ra in ee s d es ir e t o l ea rn t he c on te nt o f t r a i n i ng p r ogr ams . [ 7 ]

I n A LI CO , th er e a re 7 ,9 00 c ar ee r a ge nt s . In it ia ll y w he n a n

i nd iv id ua l j oi ns t he o rg an iz at io n, h e/ sh e w or ks a s t em po ra ry

r e c r u i t s . I n o r d e r t o s t a y i n t h e o r g a n i z a t i o n h e / s h e h a s t o s e l l a t

l ea st 3 p ol ic ie s w it hi n 9 0 d ays . I f t he y s el l t he p ol ic ie s a t as a t i s f ac t o r y r a t e t hen t hey wi l l become pe r manen t agen t s . Bu t r ecen t

s t a t i s t i c s s hows t ha t many o f t hes e peop l e a r e no t ab l e t o s u r v i ve i n

t hi s b us in e ss o r s tr ug gl in g. O u r t ra in in g p ro gr am i s f oc u se d o nh e lp i n g t h es e n e wl y r e cr u it . We b e li e ve t h at a f te r a t te n d in g o u r

t r a i n i ng p r ogr am t he i r pe r f o r mance wi l l i mpr ove .

T h e c a r e e r a g e n t s a r e u n d e r g r a du a t e d e g r e e h o l d e r s t h i s s h o w s t h e y

a r e e l i g i b l e t o a t t end t he t r a i n i ng p r ogr am.

M o t iv a t io n t o l e a r n : I n A L I C O t h e a g e nt s r e ce i ve s a c o mm i ss i on

f ro m 1 5 % t o 8 0 % o n s al es . I n a dd it io n t he c o mp an y g iv e s t h e m

t r a i n i ng a l l owances f o r t he t r a i nees . S i nce t he t r a i n i ng p r ogr am wi l l

t ake away t he va l uab l e t i me on wor k . Th i s s hows t ha t empl oy ees a r ee as il y m ot iv at ed t o a t t en d t he t ra in i ng p ro g ra m. M or eo v er t hi s

t r a i n i ng i s an op t i ona l bas i s , i t i s p r ov i ded f o r t he i r own good .

Task analysis:

Ta s k a n al y si s r e su l ts i n d e sc r ip t io n o f w o rk a c ti v it i es , i n cl u d in g

t a sk s p e rf o rm e d b y t h e e m pl o ye e a n d t h e k n o wl e dg e , s k il l s, a n d

ab i l i t i e s r equ i r ed t o co mpl e t e t he t a s ks . A j ob i s a s pec i f i c p os i t i on

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r e q u i ri n g t h e c o m p l et i o n o f c e r t a in t a s k s. A t a s k i s t h e e m p l o ye e s

wor k ac t i v i t y i n a s pec i f i c j ob . [ 8 ]

T h e c a r e e r a g e n t s t a s k s a r e t o s e l l t h e i n s u r a n c e p o l i c y a n d a c t a s

an adv i s o r t o i t s c l i en t s . An i ns u r ance s a l e s man has t o be phy s i ca l l y

f i t , he / s he a l way s have t o have a s mi l i ng f ace and a r e no t a l l owed t o be i mpa t i en t . They s hou l d be s mar t and have exce l l en t i n t e r pe r s ona l

s k i l ls . T h e y s h o u l d h a v e t h e a b i l i t y t o s e l e c t a n d c o n v i n c e p o t e n ti a l

c l i en t s .

Ensuring Employees Readiness for training:

T h i s s t e p e n s u r e s w h e t h e r t h e e m p l o ye e s h a v e m o t i va t i o n a n d b a s i c

s k il l s n e ce s sa r y t o m a st e r t h e t r ai n in g c o n te n t . T h e c o mp a n y h a s

c o d e n u m b e r s o f e v e r y e m p l o y e e a n d t h e i r p r o f i l e s a r e r e c o r d e d i n

t he comput e r . I n o r de r ens u r e t he r ead i nes s f o r t r a i n i ng t he t r a i n i ngs p u r p o s e a n d o u t c o m e s w i l l b e c o m m u n i c a t e d t o t h e m t h r o u g h t h e

c o m p a n y w e b s i t e s a n d n o t i c e b o a r d s . T h o s e w h o a r e i n t e r e s t e d t ol e ar n w i ll b e a d vi s ed t o c o nt a c t t h e t r ai n in g d e pa r tm e nt t h ro u g h

t h e i r a g e n c y m a n a g e r s . T h e o u t c o m e s o f t h e t r a i n i n g a r e e n o u g h t o

mot i va t e t hem.

Creating a Learning Environment:

M e a n i n gf u l m a t e r i al s: The ALI CO Hea dquar te r has a good

e n v i r o n m e n t f o r l e a r n i n g t o o c c u r . I t h a s a b i g a u d i t o r i u m w i t h a

c a p ac i t y o f 3 0 0 s e at s . T h e r o om i s a i r- c on d it i on e d a n d e q u ip p e dw it h L CD p ro je ct or s a nd e le ct ro ni c s pe ak er s f or l ec tu re . T hecompany i s w i l l i ng t o p r ov i de t i me and appr opr i a t e ma t e r i a l s f o r t he

t r a i n i ng t o occur .

L e a r n i ng O b j e c ti v e s: T he id ea o f t hi s t ra in in g i s t o ma ke th e

t r a i n e e s u n d e r s t a n d t h e s u b j e c t m a t t e r a n d p r e p a r e t h e m t o u s e t h e

knowl edge i n p r ac t i ca l wor l d .

Prac t i ce: T he t ra in er s w il l b e g iv en c as e s tu die s a nd g ro up

as s i gnment s .

Feedback : T h e r e w i l l b e a n a s s i s t a n t f o r t h e t r a i n e r , h i s j o b w i l l

o n l y b e t o r e v i e w t h e a s s i g n me n t s p r e p a r ed b y t h e t r a i n e e s a n d g i v e

mar ks . He wi l l be r e s pons i b l e f o r p r ov i d i ng f eed back and gu i dance .

C o m m u n it y o f L e a r n i ng : T h e n e w ly r e cr u it s a r e t h e t r a i n er s a n d

t oge t he r t hey wi l l e s t ab l i s h communi t y o f l ea r n i ng .

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P rogram Admi n i s t ra t i on: T h e h e a d o f t h e t r a i n i n g d e p a r t m e n t w i l l

admi n i s t e r t he t r a i n i ng p r ogr am.

6

N o e , E m p l o y e e T r a i n i n g a n d D e v e l o p m e n t7 N o e , E m p l o y e e T r a i n i n g a n d D e v e l o p m e n t8 N o e , E m p l o y e e T r a i n i n g a n d D e v e l o p m e n t

Ensuring Transfer of Training:

T h e s t e p i s t o e n s u r e t h a t t r a i n e rs a p p l y t h e t r a i n i n g c o n t e n t o n t h e

j o b . I n o r d e r t o d o t h i s w e h a v e s e l e c t e d t h e b e s t p e o p l e o n t h e j o b

w h o w i l l p r o v i d e t h e t r a i n i n g . T h e m a i n p u r p o s e b e h i n d e v e r y t h i n g

i s f i r s t t o make t he t r a i nees under s t and and p r epa r e t hem t o us e t ha t

l ea r n i ng on t he j ob . The t r a i ne r s a r e s k i l l ed and t hey wi l l make s u r et ha t t he t r a i nees under s t and t he s ub j ec t we l l .

P e e r a n d M a n a g e r s su p p o r t : T h e a g e n c y m a n a g e rs w i l l b e a s s u re d

t ha t i f t he t r a i n i ng i s s ucces s f u l , t he pe r f o r mance o f t he agen t s w i l l

i n c r e a s e a n d t h i s w i l l r e s u l t i n m o r e s e l l i n g o f t h e p o l i c i e s . T h eAgency manager s w i l l t hen be bene f i t ed f r om t he i nc r eas ed s a l e s .

Developing an Evaluat ion plan:

To i d e n ti f y t h e l e a r n in g o u t c o me s q u i z z e s , p r o j e c t w o r k , c a s e s t u d ya nd f in al l y i nd iv id ua l p re se nt at io n w il l b e c on du cte d. T hi s

eva l ua t i on p r oces s

w i l l d e t e r m in e w h e t h er t h e t r a i n i n g p r o g r a m w a s s u c c e ss f u l o r n o t .

I n t he l ong- r un we have p r epa r ed a cos t bene f i t ana l y s i s . The cos t o f t h e t r ai n in g i s t r ai n er s f e es , p r ep a ra t io n o f t h e a u d it o ri u m a n d

t r a i n in g a l l o wa n c e s . T h e b e n e f i t s w i l l b e m e a s ur e d i n t h e l o n g - r u n .

As a l r eady men t i oned , each empl oy ee has a code number r ecor ded i nt he comput e r . The s e l l i ng ac t i v i t i e s o f t he t r a i nees wi l l be moni t o r ed

f o r one y ea r . I f on ave r age , eve r y t he s e l l s ac t i v i t i e s i nc r eas ed f r om

3 t o 6 p o l i c i e s p e r m o n t h , w e w i l l c o n s i d e r o u r t r a i n i n g p r o g r a m i s

s ucces s f u l .

Select ing Training Method:

A L I C O h a s a n i d e a l e n v i r o n m e n t f o r t r a d i t i o n a l l e a r n i n g t o o c c u r .

A l t h o ug h E - L e a rn i n g c o u l d b e i n t ro d u c e d h e r e d u e c o n s i d e r a t io n o f t h e l o c a t i o n d i s p e r s e d p e o p l e , b u t m a n y o f t h e a g e n t s d o e s n t h a v e

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co mpu te r s . Th ere f o r e t r ad i tio na l l ea r n in g was co ns ide r ed

appr opr i a t e .

IMPLEMENTATION OF TRAINING PROGRAM

Training Course for Performance Improvement for Career Agents

Day - 01

TIME CONTENT FACILITATOR

0900-1000 Registration J. Abedin

1000-1045 Analyze course objectives M.N.Islam

1045-1100 Tea Break

1100-1300 Types of misconceptions on life insurance policies M.R.Shameem

1300-1400 Lunch Break

1400-1530 Finding the right customer and identifying his/her fear ofthe insurance product

M.R.Shameem

1530-1545 Tea Break

1545-1730 How to eliminate clients misconception H.S.Ferdous

Day - 02

TIME CONTENT FACILITATOR

0900-0930 Review previous days learning J.Abedin/M.R.Shameem

0930-1045 Use of rate books R.H.Khan

1045-1100 Tea Break

1100-1300 Improving communications skills Mahavir Pati/

K.H. Imtiaz/

1300-1400 Career agent agreement/ Contract & benefits K.S.Ali/ M.H.Zaman

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1400-1600 Course evaluation H.S.Ferdous

Monitoring and Evaluat ing the Program:

The ma i n p urp os e o f th i s t r a in ing p r ogr a m i s to impr ove

p e rf or ma n ce o f t he n ew ly r ec ru i ts . We w il l s ee w he th er t he ir

pe r f o r mance has i mpr oved o r no t . I f t he i r pe r f o r mance i mpr oves , wewi l l i mpl emen t t h i s t r a i n i ng p r ogr am i n f u t u r e .

A ft er t hi s t ra in in g p ro gr am , w e w il l c on du ct a s ur ve y t o t hei n d i v i d u a l s w h o w e r e i n v o l v e d a n d i n d i v i d u a l s w h o h a v e a t t e n d e d

t he t ra in in g p ro gr am . We w il l a na lyz e t he ir c om me nt s o n t he

t r a i n i ng whi ch wi l l be us ed t o r e - ad j us t t he p r ogr am.

Conclusion:

I n c o n c l u s i on o f t h e p a p e r , w e w o u l d l i k e t o s a y t h a t A LI C O i s t h e

h o l d e r a n d c a r r i e r o f o u r e v e r y l i f e . B e c a u s e , f r o m t h e f i n d i n g s o f t h e q u e s t i o n n a i r e w e h a v e s e e n t h a t p e o p l e w h o h a v e f o r g o t t e n t o

p u r c h a se t h e l i f e i n s u r a n c e p o l i c y a n d t h e i r o t h e r p r o d u c ts , A L I C Oh a s i ns pi re d t he m t o p u rc ha se t he se t yp e s o f p ro du ct s. A LI CO

bas i ca l l y s e r ves t hos e p r oduc t s t ha t he l ped peop l e t o l ead t ens i on

f r ee l i f e . The peop l e who l i ke t o l ead good l i f e , t hey a r e mor e l i ke l yt o p u r ch a se A LI C O p r od u c t. S o a t l a st w e a r e a b l e t o r e ac h o u r

h yp ot he si s th at A LIC Os p ro du ct i s p urc ha se d a cc or di ng to

e th no c en tr is m of t he p e op le a s w el l as p re fe r en ce o f th e to p

qual i ty .

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Appendix - A

Needs Assessment

Interview/Questionnaire

For Managers:

Q-1. What is your business strategy?

Q-2. What is your staffing strategy?

Q-3. Do you think the newly recruits are performing well?

Q-4. What do you think will help them to improve their performance?

Q-5. Do they know their task and responsibility?

Q-6 Do you think they are motivated?

Q-7 Do you think a training program will help them to improve their performance?

Q-8 How much money do you think is appropriate?

Q-9 How much time and support are you willing to give?

For Career Agents:

Q-1. Are you performing well?

Q-2. Do you think the managers are giving you much support?

Q-3: Is your working environment is supportive?

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Q-4. What type of support do you need from the company?

Q-5. Do you believe that a training program will help you to improve your performance?

Q-6. Do you have proper knowledge about the last training program you have attended?

Q-7. How effectively you are implementing those learning in your work?

Evaluation of the Program

Interview/Questionnaire

Q-1. DO you understand the program well?

Q-2. In which part do you think change is necessary?

Q-3. Do think the trainers conducted the training effectively?

Q-4 Did you were provided with a comfortable and helping learning environment?

Q-5. Do you believe you can implement the program in practical life?

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Bibliography:

I. Raymond, A. N. (2005).Employee Training and Development. New York:

McGraw-Hill Irwin.

II. April 25, 2008.ALICO: An AIG Company. Retrieved in April 15, 2009, from

http://web.aig.com/UI/ALICO/Country_Splash_Page.html.

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Documents

Training Program to Eliminate Clients Misconception