Business Daily from THE HINDU group of publications
Tuesday, Aug 04, 2009
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Business Daily from THE HINDU group of publications Tuesday, Aug 04, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Human Resources Web Extras - Insurance ‘Professionalism must for insurance training institutes’ Our Bureau Hyderabad, Aug. 3 Insurance institutes that train agents should self-regulate to maintain professionalism, said Mr A. Giridhar, Executive Director, Insurance Regulatory and Development Authority (IRDA). Addressing a meeting of (All India) Insurance Training Institutes’ Association (ITIA) here, Mr Giridhar said the training institutes should also think of affiliating with reputed universities/institutions. The Authority is receiving complaints on lack of proper infrastructure in the training establishments and improper maintenance of schedules, he said. “Unless professionalism is achieved in training and in the way the agents are working, this channel will die a natural death,” he said.
IRDA is working on various measures to increase the efficiency of the agents, he added. Mr Asadulla Pasha, President of ITIA, said though the institutes were being given licences by IRDA, there was no guarantee of the return of investment in creating infrastructure and bringing quality faculty. “The fee for training has also been fixed. The Authority only says it should not be high and the companies are taking advantage of this,” he said. As of now, for the 50-hour training, the fee being paid to the institutes is around Rs 1,000 a candidate. The recent reduction of training duration from 100 hours to 50 hours is also causing problems, he said, adding: “The syllabus is voluminous and it has not been reduced or revised. We are unable to compress it to be taught in 50 hours.” The association is ready for a dialogue with IRDA to remove mismatches between the theory and practice as far as training is concerned, he said. There are over 108 agent training institutes in the country, out of which 72 are members of ITIA. More Stories on : Human Resources | Insurance
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