Royal Sundaram Signs MoU with Manipal Global Academy of BFSI for a 1-year General Insurance Training Program

Royal Sundaram General Insurance Co. Limited, India’s first private sector general insurance company, has signed a Memorandum of Understanding (MoU) with Manipal Global Academy of BFSI for a customised general insurance training program at the Manipal Global’s Academy of BFSI campus in Bangalore.

The candidates will undergo a one-year customised residential general insurance training program at Manipal Global Academy of BFSI. The one-year full time training program, will comprise of four months of training on-campus and two months of internship followed by six months of on–the–job training at Royal Sundaram. The course is designed to upskill prospective employees with the right domain knowledge, develop a broad understanding of the business, products and processes that will help them perform on the job.

The program entails the following:

·         Business understanding -Provides a broad understanding of the general Insurance industry, the customers and their needs, thorough case studies, advisory skills and customer engagement.

·         Product & process knowledge -The program shall impart relevant general insurance  knowledge (product, services sales & claims) to the candidates enabling them to engage customers confidently and proactively

·         Building attitude- The program will provide behavioural skillsets to the future employees to significantly enhance customer engagement through greater ownership and superior acquisition quality

·         Values, ethics and compliance - Enabling the candidate to  sell general insurance products better with the help of required knowledge, skills, attitude, compliance, focus and the required certification as per regulatory norms for selling general insurance products

Speaking on the occasion, M S Sreedhar, CEO & Managing Director, Royal Sundaram General Insurance Co. Limited said, “We as a company have always had the foresight to look at the bigger picture and we believe that acquiring the right talent starts from the grassroots. The general insurance industry is poised to leap into the next growth wave and we at Royal Sundaram will be part of that growth in grooming the next wave of industry-ready professionals. Here is a course that enables the candidates to acquire the right attitude, values, ethics and compliance that will help them succeed in the industry.”

Bimaljeet Singh Bhasin, Vice President, Enterprise Business, Manipal Global Education Services (MaGE) said, “We are happy to partner with Royal Sundaram for skilling its general insurance professionals. Insurance industry thrives on empathy and relationships. We are glad that Royal Sundaram is serious about its employees possessing sound business understanding, product and process knowledge, attitude and values. We are confident that the employees who undergo this training program will be the ambassadors of Royal Sundaram and help expand its ‘good business’".

Rakesh Gupta, Chief Human Resources Officer, Royal Sundaram General Insurance Co. Limited said, “This initiative will strengthen the Royal Sundaram Academy, the learning and development platform for existing and potential employees. All company learning initiatives will be driven by it; one that will also help bridge the gap in competencies available in the General Insurance industry today”.

On successful completion, students will be awarded a Post-Graduate Diploma in General Insurance and will be offered direct employment at Royal Sundaram. The aim of the General Insurance Training Program is to mould officers of high calibre in the field of general insurance and create workforce that matches the company expectations and culture. The first part of the General Insurance Training Program will commence in June 2018 in Bangalore.