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

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

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  • MM S Sreedhar, CEO & Managing Director, Royal Sundaram General Insurance Co. Limited & Bimaljeet Singh Bhasin, Vice President, Enterprise Business, Manipal Global Education Services (MaGE) after signing the MoU

 


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, through 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.”
 
Mr. 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’.”

Mr. 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. 

About Royal Sundaram General Insurance Co. Limited

Royal Sundaram General Insurance Co. Limited (formerly known as Royal Sundaram Alliance Insurance Company Limited), a subsidiary of Sundaram Finance, is the first private sector general insurance company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India. The company was initially promoted as a joint venture between Sundaram Finance, one of the most respected non-banking financial institutions (NBFCs) in India and Royal & SunAlliance Insurance plc, UK, one of the oldest general insurers in the UK. In July 2015, Sundaram Finance acquired the 26% equity holding from Royal & SunAlliance Insurance plc. Consequently, the entire 100% equity holding in Royal Sundaram is now held by Sundaram Finance (75.90%) and other Indian Shareholders (24.10%).

Royal Sundaram has been providing innovative general insurance solutions to individuals, families and businesses directly as well as through its intermediaries and affinity partners. The company offers Motor, Health, Personal Accident, Home and Travel Insurance to individual customers and offers specialised insurance products in Fire, Marine, Engineering, Liability and Business Interruption risks to commercial customers. Royal Sundaram also offers specially designed products to the small and medium enterprises and rural customers as well. The company is a pioneer in bancassurace in India, having long-standing tie-ups with reputed banks and NBFCs. Currently, Royal Sundaram has 2000 plus employees and its products are distributed across 130 cities in India, through agents, affinity partners, OEM dealers, brokers and through direct channel (both offline and online), selling over two million policies every year.

About Manipal Global

Manipal Global Education Services (www.manipalglobal.com) is a leading international provider of high-quality higher education services. These include

  • Certification programs in various fields like Management, IT and Finance.
  • Corporate training programs in partnership with major banks and IT companies in domains such as banking, data science, management and technology.
  • Technology-driven services in areas such as testing and education delivery.
  • Vocational training across a number of industries.

Manipal Global owns and operates universities and medical colleges in Dubai, Malaysia and Nepal, as well as GlobalNxt University, which offers internationally recognised business and IT degrees online as well as customised training for corporates. All these Universities have extensive academic tie-ups with top universities across the world.

Manipal Global Academy of BFSI (www.bfsi.manipalglobal.com): Corporate training and consultancy services to leading organizations in the public and private sector including banks, NBFCs and Insurance companies.

Manipal ProLearn partners with industry leaders like Google, Amazon, Chartered Institute of Management Accountants, EY and PEOPLECERT to provide high quality certification courses in management, IT and Finance.

Manipal ProLearn partners with industry leaders like Google, Amazon, Chartered Institute of Management Accountants, EY and PEOPLECERT to provide high quality certification courses in management, IT and Finance.

Manipal Global believes industry relevance is the key to career-focused education. This has led to innovative partnerships like the Manipal Global Academy of Banking in collaboration with leading Indian banks like ICICI Bank, Bank of Baroda, Punjab National Bank, Andhra Bank, Axis Bank and Kotak Mahindra Bank, among others.

Manipal Global Academy of Information Technology (MGAIT) supports nearly 20 IT majors with online and residential boot camps, innovative Accelerated Learning Programs and other productivity and skill related training needs. It also conducts beginner and advanced level programmes for technical architects and product managers.

Manipal Global Academy of Data Science (MGADS) is in partnership with Manipal University to offer a PG Diploma in Data Science to both freshers and working professionals, setting them up for a career in the ‘hottest career of the decade’. It also offers solutions for identifying data science talent, competence benchmarking as well as entry and advanced level training in the field of data science.

MeritTrac is India’s premier pure play Testing & Assessment Services Company which provides innovative assessment services to leading educational institutions, government organizations and corporate entities.

Manipal City and Guilds in partnership with City & Guilds, UK, offers vocational training and certification programs for learners.

The Manipal Global mantra – Achieve, Enable and Transform – builds on this legacy to create a future for every life it touches, a future that inspires achievements, enables ambitions, and transforms lives, worldwide.

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