The Company
World's leading insurance companies are in India making way into one of the fastest growing insurance markets. These companies have since been recruiting, training and employing insurance agents to market their insurance products.
Transformation Need
Challenge #1 - The Insurance Regulatory and Development Authority (IRDA) set up by Government of India mandates a 100-hour training. All the aspiring life insurance agents need to undergo this training to qualify as agents. Many observed that the conventional classroom training may not meet the diverse needs of new and existing agents. The reason being that companies must invest heavily on infrastructure and faculty resources in multiple locations for in-house training. Instead they are looking for ways to reduce cost and at the same time become effective in ramping up agents.
Challenge #2 - The complexity of changing business rules, legal constraints and resulting intricacies in premium calculation, often require agents to re-tool themselves.
Challenge #3 - Given the narrow profit margins and intense competition, insurance companies neede a cost effective training solution. Such that it would allow them to stay focused on their core strengths – selling insurance & underwriting.
The need for cost-effective training with ‘any time, any place' flexibility enticed insurance companies to sign-up for C&K's One India pay-per-seat e-learning approach.
The Solution
“Insurance Guru (I Guru)” is an IRDA approved online agents' training solution. The objective is to deliver high quality content over a stable, robust, and secure network using the latest learning technologies. C&K's e-learning approach offers a strong infrastructure and content that aligns with insurance companies' e-learning requirements. Future agents can now get in-depth knowledge and understanding of the life insurance fundamentals, laws and procedures. The course is designed not only to enable the learner understand the key concepts and principles well, but also, to one a “ SMART Agent ”.
Development and Implementation
With the support of qualified insurance experts and C&K team, the fundamental course was written following "Instructionally Sound" methods. The content primarily aims to ensure that the learners easily grasp life insurance concepts irrespective of their academic background. The content has since been re-written (within IRDA Guidelines on Syllabus) in a lucid and simple manner.
Learner Centric Courseware
C&K developed content using ' Step Up' learning model to keep the content concise and coherent with apt examples illustrating the principles of life insurance. According to this approach, the learner gets just the right information at the right level in the right amount.
One can access the “I Guru” online course from anywhere be it one's home, a cyber café, a company or through the Intranet. The solution has been designed considering various aspects like learner access environment, available browser versions, download speeds, and security concerns. The learning environment is rich and provides the learner the access to content and other features like email, quizzes and collaboration tools. The environment also provides an easy navigation through the content while allowing timed assessment.
The Results
“I Guru” is the first online course provider in South India to receive certification from IRDA. Today, Insurance companies wanting to train their agents are making “I Guru” their preferred option. Till now, close to 7000 people from across India have been trained as life insurance agents. The success of the “I Guru” course is evident from the fact that 90% agents have passed the IRDA certification exam after completing the course. In particular, user feedback has revealed that the course is easy to learn and navigate.
Corporate Take-Away: The main features of the I Guru delivery environment include:
- A unified and easy to use Content Creation / Delivery Mechanism
- Versatile Evaluation Module that provides all types of tests and questions compliant with IMS-QTI standards achieved by very few world over
- Unique reports mechanism to track total trainee progress/establish ROI & reports to corporate
- Highly modularized extensible collaboration tools
- Excellent Inter-operability features with other learning content
- Efficient Enterprise Data Maintenance
- Secure and self-paced content delivery
The 'Step Up' Model
The ' Step Up' Model essentially introduces the concepts, facts, principles, and procedures in a phased manner. In other words, the subject of Life Insurance is introduced at the appropriate levels of familiarity. The learning steps include:
- Initial Learning : Basic concepts sequenced in the order of learning
- Continued Learning : Interrelationship between concepts
- Refresh Learning : Reiteration through "Recap" and Test
- Upgrade Learning : Application of concepts in actual situations
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