The Hindu Business Line : `Trained manpower, big challenge for insurers'

According to Mr Rajendra Beri, CMD, New India Assurance and President, Insurance Institute of India, the institute would have to address, in the next ten years, the problem of declining standards of ethics and technical knowledge of people employed in the insurance sector.

Speaking at the conference celebrating the 50th anniversary of the Insurance Institute of India, Mr Beri said that despite the induction of bright, young graduates in the institute, there is diminished loyalty to the profession and industry.

The Insurance Institute of India has 91 associated institutes in the country that are managed by insurance employees in an honorary capacity. In the past five years, the institute has handled two million examinees.

According to Mr Beri, insurance education has to be more practical in nature. He said that around the world, insurance education has been the forte of insurance institutes founded and nurtured by the insurance industry.

The function of the institute as a board run company also needed to be considered, he said.

While the IRDA has expressed its concern over `misselling' of insurance, the contention of some insurance companies has been that the mandatory training of 100 hours was not fool-proof. Insurers are providing specialised training to their staff

Mr A.K. Shukla, Chairman, LIC, said that the 100-hour training was just basic education.

He said that LIC had developed the biggest training infrastructure of 600 agent training centres and seven zonal training centres.

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