Campus to Corporate · 6 Future Group Incorporated in í987, one of India’s retail pioneers with...
Transcript of Campus to Corporate · 6 Future Group Incorporated in í987, one of India’s retail pioneers with...
Campus to CorporateFuture Generali India Life Insurance
Year 2019
Future Generali India Life Insurance A Simpler, Smarter & Faster Life Insurer building Value keeping customers at the core
11+ years of securing lives and building impactful relationship with our customers
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About the
Company
1
Our Vision,
Mission
and Values
2
What we
Offer- Our
EVP
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Company Overview
Completed 10 years of business operations
People
Initiatives
5
Our Latest
Awards
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Our
Leadership
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Program
Overview
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About the
Company
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Future Generali Life Insurance – Joint Venture with strong parentage
55 Consultants
GENERALI
Generali is among the world’s leading insurersand it is present in over 60 countries with totalpremium income exceeding €70 billion in 2016
Incorporated in 1831
49%
55 Consultants
FUTURE GROUP
Future Group operates some of India’s mostpopular retail chains like Central, Big Bazaar,Food Bazaar, Home Town and eZone
Incorporated in 1987
51%
Future Generali, incorporated on Sep 04, 2007, is the first composite insurer in the country. A joint venture between the Future Group and Generali Group to provide a complete range of insurance solutions to customers and enterprises
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Future Group
Incorporated in 1987, one of India’s retail pioneers with multiple retail formats
The only pure play local retailer poised to lead India’s consumption story with sustainable value creation
22 Mn Sq. Ft. of Retail
Space
220+ cities
Multi-format retail strategy that captures almost the entire consumption basket of Indian customers
Founded on a simple idea: Rewrite rules, retain values. This fundamental belief created a new kind of marketplace, forever transforming Indian retail
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Future Group scale and key Businesses
Presence in more than 220 cities
400 million customer walk ins every year
25 million loyalty membership base
Engage 30,000+small, medium &
large entrepreneurs
32,000 employees
Mission to contribute 1% of India’s GDP
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The Generali Group
A significant player in the global market with strong international drive
Leader in Retail segment and a major player in the field of assistance, through the Europ Assistance Group
Key player in Continental Europe and leader in direct channels ranking 1st in Italy, 2nd in Germany and 3rd in France
Nearly €500b
Worth of assets
Since 1831
9A global leader in life and general insurance, with worldwide presence & most comprehensive business lines/product offerings in the industry
More than 60 countries in the
world
70 billion Euro in premiums(2016)
~66% outside Italy
Among 50 smartest companies in the
world*
Over 55 Millioncustomers
75,000 employees
One of the world’s 50 largest companies**
GENERALI Group
Life Insurance
Non Life Insurance
Investment Management
Real Estate
Wealth Management
Leading Banca Player
Figures as of 31st Dec 2016
European leader, Focuses on savings and protection policies, alongside unit-linked and other products
Focuses on both personal/retail and commercial markets; provides coverage of the entire insurance portfolio
Asset manager for Generali Group
Co-ordinates captive asset management & 3rd party operations
Generali Immobiliare
Mainly office properties located in Europe
International leader in affluent segment
Online Virtual Bank in Italy & Austria “Banca Generali”
• Generali is a leading bancassurer in Europe, Asia and South America, with more than 200 partnerships worldwide
10Future Generali Life Insurance - Diversified business with strong fundamentals
Total Capital deployed ~ INR 1738
Cr*As of Mar’18
~3.7 million In-force policies
103 full servicing branches
Plans to open 17 new branches by the end of year
AUM~ INR 3500 Cr
*As of July’18
1.7 Mn+Lives covered
One of the Fastest Growing life insurer
in FY 17 & FY 18
Claim Settlement93%
*For FY 17-18
~11000Agents
400+ corporate clients
Future Generali at a Glance Our Distribution Network
Andhra Pradesh (5)
Bihar (7)
Chhattisgarh (2)
Delhi (6)
Gujarat (5)
Haryana (3)
Jharkhand (3)
Karnataka (3)
Kerala (6)
Madhya Pradesh (4)
Maharashtra (18)
Orissa (3)
Punjab/ Chandigarh (4)
Rajasthan (2)
Tamil Nadu (5)
Uttar Pradesh (14)
West Bengal (6)
Goa (1)
Uttarkhand (2)
Assam (1)
Himachal Pradesh (1)
Jammu & Kashmir (1)
Telangana (1)
Tripura (1)
103Branches
*As of July’18 *As of July’18
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Our Vision,
Mission and
Values
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Our Vision
Our purpose is to actively protect& enhance people’s lives
VISION
Our Mission
Our mission is to be the first choiceby delivering relevant and
accessible insurance solutions
Our Values
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What We OfferOur Employee
Value Proposition
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Agility as a Way of Life
Agility and flexibility is in our DNA. We believe in equipping our business with cutting
edge technology. We thrive under pressure and are always ready to conquer any
challenge. At FGILI strict hierarchy and rigid processes never hinder us from
continuously improving the way we work.
Chart your own Growth
FGILI is the place for you to soar to give your career high paced growth. With our
ambitious business growth and our appetite for success, you can chart powerful and
unconventional career paths. At FGILI we believe in leading from the front and excelling
with our insatiable drive & work ethics.
Enabling Work Culture
We have built our work culture with honesty, openness and approachability. Our teams
are cohesive; peers are supportive and leadership is approachable. We believe in taking
big bets on our people and encourage them to initiate, innovate and involve themselves
in every task while keeping our customers at the heart of everything we do. Take
chances. Give your best shot. Own it up. We promise to support your spirit at every step.
- Our Employee Value Proposition
Enhanced Levels of Empowerment
Career, Training and Development
Employee Engagement and Connect
Multiple rewards & recognition platform
Periodic and Streamlined Appraisal System
Rewards and Recognition for Employees
What we Offer
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Our Leadership
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We have a seasoned leadership team at our helm
Organization chart reference date: Jan’19
CEO & Managing Director
Munish Sharda
23 years experience
(Aviva, Citibank)
Head, Internal Audit
Dinesh Arora
15 years experience
(Aviva, PNB Metlife, PwC, KPMG)
Head, Legal & Compliance
Conjeevaram Baradhwaj
30 years experience
(LIC, ICICI Pru, Metlife, Bharti Axa)
Chairman of the Board of Directors
Shri G.N. Bajpai
Ex LIC Chairman, Ex SEBI Chairman
Head, InvestmentsJyoti Vaswani20 yearsAvivaJM Capital
CFOMiranjit Mukherjee28 yearsTATA AIG, HDFC, GE
CHRORuchira Bhardwaja17 yearsAxis Bank, Croma
Appointed Actuary & CROBikash Choudhury13 yearsAviva, Bajaja Allianz
Head- Banca, Alliances and FRLRahul Rasal23 yearsCiti Bank
Head- Agency and DirectSubhasish Acharya23 yearsPNB Metlife, ICICIBank, Kotak Life
Head- Group Business, BD and StrategyShishir C Deo18yearsAviva, Citibank
CMO and Head-Product DevelopmentRakesh Wadhwa19 yearsAviva, Times Internet
CTOByju Joseph22 yearsRaymond, McDonald’s
Head OperationsS Mahesh22 yearsTata AIA, HDFC Bank
Board Members
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People Initiatives
@ FGILI
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20People Initiatives : Rethinking Talent; Rethinking Workplace; Rethinking Technology
Making our processes simpler & people smarter
FG Best @ Work
Health Awareness Campaigns & camps
Flexi-Work Time
Fun @ work initiativesInclusion Hiring
Gender Diversity initiatives
Multi tiered employee connect
Aon Hewitt Survey
E3 Workshops
FG Learning Lighthouse
Delegation of Authority Matrices
SLAs
Execution council
EVP
IDPs
Go paperless
Talent Management
E3 Workshops
• Performance Management
• Engagement Action Planning
• Learning roadmap
Talent Management: 9 box
mapping
• Talent Reviews for M6 and above
• Potential identification keeping in view
Readiness, Ambition, Behaviour &
Learnability
Execution Council
• 39 empowered individuals putting impetus
to growth, strategy execution and cross
functional projects
Learning & Development
• Launched Learning Lighthouse for L1
and L2 Managers
• Design Thinking intervention for HOD-1
• Catapult for FLS career progression
A collaborative exercise to identify
and execute engagement agenda
A structured intervention to build
and strengthen Managers’
capabilities
Career progression for Middle
Management
Key focus on 39 key HOD-1 Talent
• Rewarding outstanding achievements in meeting sales
targets, customer service delivery and innovative ideation
Multiple rewards & recognition platform introduced
• Recognizing excellence by individuals & teams by
living the FG Values
• Appreciating the little joys associated with one’s
worklife
• For appreciating the long term association with the
organization
• For appreciating the long term association with the
organization
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Our Latest
Awards
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Golden Star AwardsSeptember 2018
Awards 1: Life Insurance company of the year in the Mid Segment and Small Segment
Awards 2: Technology initiative of the year for our WhatsApp Chatbot
Asian Leadership Forum and AwardsOctober 2018
Global Business CIO AwardsOctober 2018
AI for All AwardsDecember 2018
Global Enterprise Architecture ExcellenceNovember 2018
IT Innovation and Excellence AwardsDecember 2018
Award for the best usage of video content in the digital industry for our
#AapkiHealthMereLiye campaign
Our CTO- Mr. Byju Joseph- received the award for Top 25 “Global Business CIOs 2018"
Future Generali is the finalist in Banking and Insurance Category
Best company in BFSI sector for Cognitive and Emerging Technologies
Best company in Customer Engagement with AI
Eventually our efforts have been recognized at various industry platforms for our efforts in 2018
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Campus Program
Overview-Young
Debutants
Program
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Program Structure – Young Debutants Program
• Preparation for IC-33/38
• Product Pitch
• Product structure
• Sales script, role plays, communication skills
30 Days – Online Training- Before
Joining
• 7 days with buddy to understand branch function
• 18 days field training with buddy
• 30 days “On the Business”
60 Days - On the Job Training (OJT)
• 0+3 months of probation goal sheet
120 days - Probation Goal Sheet
Evaluation
30 days 60 days 120 days
IC 33/38
Certification
Product and
Process Test
Evaluation of
application of knowledge
Final Evaluation
& course
completion
evaluation
Career Path & Job Description
Career Path
Job Description
Comply with policy and
procedures
Ensure active advisor
productivityActivate AgentsRecruit agents
Recruit Agents and Source Business for the Company
Generate Revenue and
acquire new customer
Ensure Joint calls on daily
basis
Conduct meeting with
reporting agents on
ongoing basis
Agency ChannelSales Trainee
SM
SSM
ABM Sourcing-1
You Join hereTrainee
ABM Sourcing-II
DBM Sourcing-1
Career Progression - Direct26
FRONTLINE
SUPERVISORS
HYBRID ROLE(Self + Team)
RM SRM KRM FSM SFSM PM SPM
ASM SM SSM
BM SBM AAH AH SAH
On completing the KRM (or above) Goal Sheet, FLS has the option to continue in Sourcing role (FSM & above) or opt for the Hybrid role (ASM &
above)
Movement of the FLS to the Hybrid role also depends on availability of the role & the Supervisors’ positive assessment that the FLS is ready for the
role
An FLS cannot move directly from Sourcing role to a Supervisor role, unless he/ she has completed at least 1 Goal Sheet in the Hybrid role
Movement of an individual from the Hybrid role to the Supervisor role (after completion of Goal Sheet) also depends on clearing the Assessment
Centre and availability of a Supervisory role
In case of non-availability of a Supervisory role, the Hybrid FLS will continue in the Hybrid role (i.e. ASM -- > SM -- > SSM progression). As and
when a Supervisory role opens up, the Hybrid FLS will be considered for the role on a case-to-case basis provided that he/ she is at >= 80% GTD on
the running Goal sheet & clears the Assessment Centre.
In case an individual does not clear the Assessment Centre, the next assessment will happen only after 3 months
New Roles
indicates Assessment Centre required for moving to the next Level
AC
AC
Sales Trainee
Our Annual Compensation Offer
COMPONENTS PER ANNUM
Fixed Compensation including Insurance benefits INR 3,09,000
Annual Incentive Paid on Quarterly basis INR 1,26,000
( Subject to Overachievement of Goal sheet- Weighted Goal Sheet Incentive with ~169% Goal sheet Achievement)
Quarterly Booster Paid on quarterly basis INR 42,000
( Quarterly Booster Incentive with ~169% Goal sheet Achievement)
Activation Incentive INR 27,000
(3 Monthly Activation)
Total Cost to Company (Fixed + variable) INR 5,04,000
Over & Above the prior mentioned variables:
• Quarterly Contest International Conventions will be planned with approximately 4 International Trips on overachievement of GS
• Long term Appreciation(Agency Channel only) is paid over & Above based on eligibility & qualifying the program
• Employee Discount Card : This card is given to all employees associated with Future Group, in this if they go and shop in any of the future retails outlet they get discounts on products purchased.
Thank You