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JOINT MEETING OF ALL CHECK-OFF QUALIFIED UNIONS / ASSOCIATIONS OF GIPSA COs. EXPLORATORY TALKS ON PROPOSED WAGE REVISION W.E.F. 01.08.2007 Friday, November 28, 2008 New Delhi. PUBLIC SECTOR GENERAL INSURANCE IN INDIA.

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JOINT MEETING OF ALL CHECK-OFF QUALIFIED UNIONS / ASSOCIATIONS OF GIPSA COs.

EXPLORATORY TALKS ON PROPOSED WAGE REVISION W.E.F. 01.08.2007

Friday, November 28, 2008

New Delhi

GIPSA


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PUBLIC SECTOR GENERAL INSURANCE IN INDIA ASSOCIATIONS OF GIPSA COs.

  • FROM A MODEST BASE OF Rs. 208 CRORES IN 1973, GROSS PREMIUM HAS GONE UP TO Rs. 17,813 IN 2007-08.

  • AVERAGE GROWTH RATE 12.68% PER ANNUM SINCE 1973. HOWEVER, THE AVERAGE GROWTH RATE DURING PAST 5 YEARS HAS BEEN 5.68%.

  • MANPOWER GROWN FROM 26,112 IN 1973 TO 84,097 AS ON 31.03.2002 AND THEN CAME DOWN TO 69,445 AS ON 31.03.2008.

  • NUMBER OF OFFICES INCREASED FROM 750 IN 1975 TO 4,074 AS ON 31.03.2008.

GIPSA


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Contd……. ASSOCIATIONS OF GIPSA COs.

  • INVESTMENT PORTFOLIO INCREASED FROM Rs. 355 CRORES IN 1975 TO Rs. 31,342 CRORES AS ON 31-03-2008

  • INVESTMENT INCOME INCREASED FROM Rs. 21 CRORES IN 1975 TO Rs. 6,189 CRORES AS ON 31-03-2008

  • RESERVES AND SURPLUS AS ON 31-03-2008 STANDS AT Rs. 13,253 CRORES

  • NET WORTH APPROX Rs. 13,800 CRORES AS ON 31-03-2008

GIPSA


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MANPOWER & PRODUCTIVITY ASSOCIATIONS OF GIPSA COs.

GIPSA


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MANPOWER AND PAY SCALES ASSOCIATIONS OF GIPSA COs.

  • FOUR CLASSES OF EMPLOYEES IN GIPSA COs. AS ON 31.03.2008, TOTAL STRENGTH IS,

    • CLASS I : 17375

    • CLASS II : 9104

    • CLASS III : 34040

    • CLASS IV : 8926

    • TOTAL : 69445

  • PAY SCALES OF ALL CLASSES OF EMPLOYEES GOVERNED BY SCHEMES NOTIFIED BY GOVERNMENT

  • FIRST SCHEMES FOR PAY SCALES NOTIFIED IN 1974, 1975 AND 1976 (CALLED RATIONALISATION SCHEMES) FOR CLASS III/IV, CLASS I AND CLASS II EMPLOYEES RESPECTIVELY

  • GIPSA


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    FIVE REVISIONS OF PAY SCALES ASSOCIATIONS OF GIPSA COs.

    • 1985 SCHEME W.E.F. 01.10.1983

    • 1989 SCHEME W.E.F. 01.08.1987

    • 1996 SCHEME W.E.F. 01.08.1992

    • 2000 SCHEME W.E.F. 01.08.1997

    • 2005 & 2008 SCHEMES W.E.F. 01.08.2002

    • CURRENT WAGE REVISION DUE W.E.F. 01.08.2007

    GIPSA


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    SIGNIFICANT DEVELOPMENTS SINCE LAST REVISION ASSOCIATIONS OF GIPSA COs.

    • TOTAL NUMBER OF GENERAL INSURANCE COMPANIES IN INDIA WERE 10 AS ON 31.03.2002 AND HAVE GONE UP TO 20AS ON DATE.

    • DETARIFFING OF PREMIUM IN MOTOR OD W.E.F. 01.01.2007 AND ALL OTHER CLASSES OF BUSINESS, W.E.F. 01.01.2008, FURTHER STIFFENING THE COMPETITION.

    • MARKET SHARE OF GIPSA MEMBER COs. HAS SLIDED DOWN FROM 95.91% AS ON 31.02.2002 TO 60.08% AS ON 31.03.2008.

    • GIPSA MEMBER COs. HAVE UNDERTAKEN BUSINESS PROCESS RE-ENGINEERING INTITIATIVES.

    GIPSA


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    MARKET SHARE ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    BUSINESS PROCES RE-ENGINEERING (BPR) IN GIPSA COs. ASSOCIATIONS OF GIPSA COs.

    • ALL THE FOUR COMPANIES APPOINTED MANAGEMENTS CONSULTANTS (MCs).

    • MCs TO MAKE AN ASSESSMENT OF KEY FUNCTIONAL AREAS AND DEVELOP OVERALL STRATEGIC PLAN FOR THEM IN FIRST PHASE

    • THE UNIQUE FEATURE IS THAT THE MCs WOULD BE INVOLVED IN IMPLEMENTATION OF RECOMMENDATIONS ACCEPTED BY THE MANAGEMENT OF COs.

    GIPSA


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    MAIN AGENDA FOR MCs ASSOCIATIONS OF GIPSA COs.

    • REVIEW OF ORGANISATIONAL STRUCTURE AND ASSESSMENT OF KEY FUNCTIONAL AREAS

    • MARKETING AND SALES – REVIEW OF PRODUCT RANGE AND DISTRIBUTION STRATEGY

    • OPERATIONS – BETTER CUSTOMER SERVICING

    • HUMAN RESOURCE – RECRUITMENT & TRAINING, INCENTIVE SCHEMES

    • INVESTMENT, U/W, FINANCIAL MANAGEMENT, IT – REVIEW AND IMPROVEMENTS

    GIPSA


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    BPR IN ‘NATIONAL’ ASSOCIATIONS OF GIPSA COs.

    • BANCASSURANCE – 5 Dedicated Bancassurance servicing offices have been opened. Target for 15 such offices by 31.03.2009

    • SME SECTOR – 18 dedicated SME Cells have been opened and 22 more planned by 31.12.2008 and another 35 by 31.03.2009.

    • Claims Processing Hubs – Opened at Kolkata and Chandigarh for Motor OD Claims – Average Claim Processing Time reduced to 25 days. More such Hubs to be opened at New Delhi, Bangalore, Chennai, Luncknow and Hyderabad by 31.12.2008.

    • Agency Force - Efforts being undertaken to incentivise the performing agents through recognition and felicitation

    GIPSA


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    BPR IN ‘NEW INDIA’ (NEW ENERGY) ASSOCIATIONS OF GIPSA COs.

    • WAVE 1 INITIATIVES– Process Redesign, Bancassurance, Brokers, Auto-dealers and Large Corporate – Pilot Work started in January, 2008 and rollout has commenced across the nation. Performance is being monitored by a dedicated HO Team for each initiative.

    • WAVE 2 INITIATIVES – Agency Performance Enhancement Program, Health TPA Management, HR & Organization Structure, Motor TP process redesign, Risk Based Pricing – Pilot work on these initiatives already started and performance is being closely evaluated.

    GIPSA


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    BPR IN ‘ORIENTAL’ (NAYEE DISHA) ASSOCIATIONS OF GIPSA COs.

    • AGENCY MANAGERS– Project AGNI envisaged appointment of 80 Agency Managers at 10 Regional Centers by 15.10.2008 which has been achieved.

    • SERVICE CENTRES – Pilot launched in 9 Cities for Motor OD Claims and 3 more coming. 1 Pilot for Policy Issuance at Jaipur to be launched shortly. Motor TP Claims Hub Pilot started in Chennai and Bangalore.

    • HEALTH INITIATIVES – Regular and Enhanced Monitoring of TPAs started and Health Managers network created across the Regional Offices.

    • ORGANIZATION STRUCTURE, PMS AND INCENTIVE SCHEMES – Initiatives under advanced stages of finalization.

    GIPSA


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    BPR IN ‘UNITED INDIA’ (UNISURGE) ASSOCIATIONS OF GIPSA COs.

    • As on 15.10.2008, have opened 7 Bancassurance Offices against 6 planned, 9 Tie-ups with Motor Dealers against target of 8, implemented Agency Managers concept in 96 Offices (9 ROs) and opened 3 Large Corporate & Broker Cells.

    • In Motor, 2 ‘filing ready’ products have been developed.

    • Design and Plan for Service Hub finalized with identification of location and personnel.

    • PMS and Incentive Schemes for Employees under final stages of discussion.

    GIPSA


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    BPR – HR - COMMON IN ALL COs. ASSOCIATIONS OF GIPSA COs.

    • Management Consultants in each Company took extensive studies in the area of Manpower Planning.

    • Reforms in Promotional Processes undertaken by GIPSA to address the contemporary requirements in the changed business scenario.

    • New Promotion Policies evolved for Class I Officers and Class III/IV Employees. Promotion Policy for Development Officers amended to the requisite extent.

    GIPSA


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    Contd……. ASSOCIATIONS OF GIPSA COs.

    • Companies have initiated Promotion Exercises for Promotions From Class IV to III, within Class III, From Class III to Class I, From Class II to I and within Class I (Scale I, II, III & IV)

    • All these Promotion Exercises scheduled to be completed by 15.12.2008.

    • Transfer and Mobility Policy now in vogue in all cadres to provide requisite flexibility in deployment to serve Organizational Requirements and career development of Employees.

    • PMS and Incentive Schemes for Employees under final stages of evolution.

    GIPSA


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    PROCESS AND ASSOCIATIONS OF GIPSA COs.FACTORSOF WAGE REVISION

    • 12 CHECK-OFF QUALIFIED UNIONS / ASSOCIATIONS OF EMPLOYEES IN MEMBER COMPANIES.

    • 2 OF THESE UNIONS REPRESENT MORE THAN ONE CLASS OF EMPLOYEES

    • ALL CHECK-OFF QUALIFIED UNIONS/ASSOCIATIONS (EXCEPT ONE FROM DEVELOPMENT OFFICERS) HAVE SUBMITTED THEIR CHARTER OF DEMANDS.

    GIPSA


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    CHECK-OFF ACCREDITED UNIONS/ASSNS ASSOCIATIONS OF GIPSA COs.

    • CLASS I

      1-4 NATIONAL/NEW INDIA/ORIENTAL/UNITED INDIA INSURANCE COMPANY OFFICERS’ ASSOCIATIONS (4)

    • GENERAL INSURANCE OFFICERS’ ALL INDIA ASSN

    • BHARTIYA VIMA KARAMCHARI SENA**

    • NATIONAL FEDERATION OF GENERAL INSURANCE EMPLOYEES**

    • CLASS II

    • ALL INDIA GEN INS FIELD WORKERS’ ASSN

    • BHARTIYA VIMA KARAMCHARI SENA**

    • NATIONAL FEDERATION OF GEN. INS. EMPLOYEES**

    • GENERAL INSURANCE DEV. OFFICERS’ ASSN

    • GENERAL INSURANCE DEV. OFFICERS’ FEDERATION*

    • CLASS III/IV

    • GENERAL INSURANCE EMPLOYEES’ ALL INDIA ASSN

    • ALL INDIA INS. EMPLOYEES’ ASSN

    • NATIONAL FEDERATION OF GENERAL INS. EMPLOYEES**

      *Charter not submitted

      ** Representing more than 1 Class of Employees

    GIPSA


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    CHARTERS OF DEMANDS BY UNIONS / ASSOCIATIONS ASSOCIATIONS OF GIPSA COs.

    Charters of Demands submitted by the Unions / Associations talk of increasing the pay package by degrees varying from 20% to 60%.

    GIPSA


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    GROWTH RATE (GROSS PREMIUM) % ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    MANAGEMENT EXP. (% TO GROSS PREMIUM) ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    MANAGEMENT EXP. (COMPLIANCE TO SEC 40C) ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    M.E. (% TO NET PREMIUM) ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    COMMISSION (% TO NET PREMIUM) ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    ICR (% TO NET PREMIUM) ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    COMBINED RATIO* (% TO NET PREMIUM) ASSOCIATIONS OF GIPSA COs.

    *INCLUDES NET INCURRED CLAIMS, M.E. & COMM.

    GIPSA


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    UNDERWRITING PROFIT / LOSS ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    ESTIMATED WAGE BILL AS ON 31.07.2007* ASSOCIATIONS OF GIPSA COs.

    *Extrapolated on the basis of expenses as on 31st March, 2007 & 2008

    GIPSA


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    ME & WAGE BILL – PROJ. Vs. ACTUAL ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    WAGE BILL Vs. PRODUCTIVITY – PER CAPITA ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    CUSTOMER ASSOCIATIONS OF GIPSA COs.SERVICE INDICES (%)

    GIPSA


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    CHALLENGES AHEAD ASSOCIATIONS OF GIPSA COs.

    EXTERNAL CHALLENGES

    INTERNAL CHALLENGES

    GIPSA


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    EXTERNAL CHALLENGES ASSOCIATIONS OF GIPSA COs.

    • Intense Competition on more profitable lines of Business.

    • Premium rates to remain under pressure in De-tariffed regime.

    • Business acquisition cost continue to rise.

    • Re-insurance cost also continue to rise due to reduction in ceding commission by Treaty Re-insurers to compensate for lower rates in de-tariffed regime.

    GIPSA


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    Contd……… ASSOCIATIONS OF GIPSA COs.

    • Shadow of global recession looming large on Indian Industry and Economy

    • Capital Markets meltdown reduces reliance on investment portfolio for net profit

    • Changing customer profile and increasing customer expectations

    • New emerging risks and need for continuous innovations

    GIPSA


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    INTERNAL CHALLENGES ASSOCIATIONS OF GIPSA COs.

    • Statutory limits on ME Ratios – Sec. 40 C

    • Every rise in Wage Bill demands corresponding rise in productivity

    • Rigidity in pay package impedes retention of talent - need for flexi pay / differential pay package

    • Skill gap in the manpower flowing from fast changing technologies

    GIPSA


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    Contd………….. ASSOCIATIONS OF GIPSA COs.

    • Adverse age profile of manpower – climate of inertia and rigidity

    • Imbalances in deployment of manpower – continued pockets of surplus / deficit despite structured TMP – widen TMP or more flexible TMP?

    • Continuous losses in Motor TP, Health etc. – Loss Management and Minimization

    • Attitudinal issues of manpower at various levels – commitment vs. alienation

    GIPSA


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    GAP BETWEEN “HAVE” & “WANT TO HAVE” - 1 ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    GAP BETWEEN “HAVE” & “WANT TO HAVE” - 2 ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    GAP BETWEEN “HAVE” & “WANT TO HAVE” - 3 ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    GAP BETWEEN “HAVE” & “WANT TO HAVE” - 4 ASSOCIATIONS OF GIPSA COs.

    GIPSA


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    HOPES ASSOCIATIONS OF GIPSA COs.

    • BPR initiatives expected to boost up productivity and rationalize expenses besides improving Customer Care.

    • Active co-operation from Employees and their Unions / Associations required to supplement these efforts.

    • An Organizational Agenda common to the Management and the Unions / Associations required for coordinated efforts and synergy.

    • Let us evolve such an Agenda.

    GIPSA


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    Thank you ASSOCIATIONS OF GIPSA COs.


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