Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
EXPLORATORY TALKS ON
PROPOSED WAGE REVISION
W.E.F. 01.08.2012
Wednesday, January 29th ,2014,
Mumbai
GIPSA
GIPSA
GIPSA
NIC
NIA
OIC
UII
ALL COs
2008-09
4277.77
19107.30
2009-10
5239.05
21838.86
2010-11
6376.66
26417.22
2011-12
8179.29
32263.45
2012-13
9266.04
37071.81
GIPSA
NIC
NIA
OIC
UII
ALL COs
2008-09
6.81
4.95
4.56
14.39
7.26
2009-10
8.15
9.97
19.05
22.47
14.30
2010-11
34.42
15.87
14.73
21.71
20.96
2011-12
25.15
22.47
11.22
28.27
22.13
2012-13
17.64
17.86
8.77
13.29
14.90
GIPSA
NIC
NIA
OIC
UII
ALL COs
2008-09
3510.41
15899.47
2009-10
4190.16
18133.00
2010-11
5116.94
22310.46
2011-12
6779.52
27740.23
2012-13
7489.07
31265.41
GIPSA
NIC
NIA
OIC
UII
ALL COs
2008-09
3199.10
14937.58
2009-10
3838.19
16955.67
2010-11
4647.63
20199.82
2011-12
6087.24
24928.42
2012-13
7250.94
29557.16
GIPSA
MARKET SHARE
AS ON
PUBLIC
PRIVATE
2005-06
73.66
26.34
2006-07
65.28
34.72
2007-08
60.08
39.92
2008-09
58.92
41.08
2009-10
59.07
40.93
2010-11
58.73
41.27
2011-12
58.47
41.53
2012-13
57.07
42.93
GIPSA
NIC
NIA
OIC
UII
ALL COs
2008-09
2515.05
13637.77
2009-10
3329.24
14967.23
2010-11
4385.64
19599.14
2011-12
5386.94
22253.37
2012-13
6134.92
25061.37
GIPSA
NIC
NIA
OIC
UII
WT. AVG.
2008-09
92.88
84.94
94.50
71.65
85.77
2009-10
81.59
85.50
82.27
79.45
82.54
2010-11
85.78
90.72
88.16
85.71
87.85
2011-12
76.43
80.80
85.26
79.46
80.22
2012-13
80.31
79.26
79.22
81.92
80.16
GIPSA
10
NIC
NIA
OIC
UII
WT. AVG.
2008-09
99.16
89.00
99.69
78.62
91.30
2009-10
85.05
89.87
90.79
86.74
88.27
2010-11
97.05
100.80
94.22
94.36
97.03
2011-12
87.50
90.01
91.25
88.50
89.27
2012-13
85.57
86.16
81.54
84.61
84.79
GIPSA
11
NIC
NIA
OIC
UII
ALL COs
2008-09
218.17
560.83
201.02
199.30
1179.32
2009-10
231.41
561.36
241.27
232.95
1266.99
2010-11
255.44
648.68
289.80
271.54
1465.46
2011-12
361.38
897.50
325.95
356.92
1941.75
2012-13
390.52
843.17
307.26
308.08
1849.03
GIPSA
12
YEAR
NIC
NIA
OIC
UII
WT. AVG.
2008-09
5.97
10.20
6.21
5.68
7.42
2009-10
5.82
9.35
6.09
5.56
6.99
2010-11
4.74
9.02
6.28
5.31
6.57
2011-12
5.20
10.23
6.22
5.26
7.00
2012-13
4.91
8.21
5.54
4.11
5.91
GIPSA
13
NIC
NIA
OIC
UII
WT. AVG.
2008-09
6.37
10.68
6.55
6.23
7.89
2009-10
6.06
9.83
6.72
6.07
7.47
2010-11
5.36
10.02
6.72
5.84
7.25
2011-12
5.95
11.40
6.66
5.86
7.79
2012-13
5.23
8.92
5.70
4.25
6.26
GIPSA
14
NIC
NIA
OIC
UII
ALL COs
2008-09
1023.93 1456.45
914.44
1031.39
4426.21
2009-10
1156.99
5344.12
2010-11
1725.38
6843.46
2011-12
1566.06
6770.17
2012-13
2001.62
8037.95
GIPSA
15
YEAR
NIC
NIA
OIC
UII
WT. AVG.
2008-09
23.84
22.56
22.42
24.11
23.17
2009-10
27.97
24.46
23.70
22.08
24.47
2010-11
25.66
23.62
28.23
27.06
25.91
2011-12
22.82
20.51
21.87
19.15
20.98
2012-13
20.81
19.99
25.95
21.60
21.68
GIPSA
16
MANAGEMENT EXPENSES %
(TO NET PREMIUM)
YEAR
NIC
NIA
OIC
UII
WT. AVG.
2008-09
28.02
26.48
28.27
29.38
27.84
2009-10
32.67
28.93
29.04
27.61
29.47
2010-11
29.73
27.02
34.10
33.72
30.67
2011-12
25.66
23.55
25.87
23.10
24.41
2012-13
24.05
23.11
31.54
26.73
25.71
GIPSA
17
MANAGEMENT EXPENSES %
(TO EARNED PREMIUM)
YEAR
NIC
NIA
OIC
UII
WT. AVG.
2008-09
29.92
27.75
29.82
32.24
29.63
2009-10
34.06
30.41
32.05
30.14
31.52
2010-11
33.63
30.02
36.44
37.12
33.88
2011-12
29.37
26.23
27.68
25.73
27.16
2012-13
25.62
25.12
32.46
27.60
27.19
GIPSA
18
YEAR
NIC
NIA
OIC
UII
ALL COS
2008-09
4635.77
6689.14
4172.65
3745.74
19243.30
2009-10
4776.36
7430.60
4652.20
4719.18
21578.34
2010-11
6481.02
9116.78
5927.70
6382.56
27908.06
2011-12
7459.29
10050.84
6145.24
7309.92
30965.29
2012-13
8694.58
11360.33
6448.82
8444.62
34948.35
GIPSA
19
NIC
NIA
OIC
UII
WT. AVG.
2008-09
126.88
121.61
128.98
106.70
121.03
2009-10
120.08
123.79
117.40
112.63
119.00
2010-11
120.25
126.76
128.54
124.73
125.09
2011-12
107.28
114.59
117.35
107.82
111.63
2012-13
109.27
110.57
116.29
112.76
111.78
GIPSA
20
NIC
NIA
OIC
UII
WT. AVG.
2008-09
135.45
127.43
136.06
117.09
128.82
2009-10
125.17
130.11
129.56
122.95
127.26
2010-11
136.04
140.84
137.38
137.33
138.16
2011-12
122.82
127.64
125.59
120.09
124.22
2012-13
116.42
120.21
119.71
116.46
118.24
GIPSA
21
NIC
NIA
OIC
UII
TOTAL
2008-09
-1205
-1440
-1106
-547
-4298
2009-10
-969
-1720
-1061
-881
-4631
2010-11
-1720
-2643
-1613
-1735
-7711
2011-12
-1381
-2286
-1252
-1223
-6142
2012-13
-1221
-1835
-1062
-1194
-5312
GIPSA
22
INVESTMENT INCOME
(Rs. in Crores)
YEAR
NIC
NIA
OIC
UII
TOTAL
2008-09
1039.62
1686.82
1019.59
1047.81
4793.84
2009-10
1348.43
2139.69
1169.43
1714.67
6372.22
2010-11
1820.13
2329.99
1796.56
1831.81
7778.49
2011-12
1711.69
2344.42
1609.63
1600.09
7265.83
2012-13
2101.90
2791.05
1862.99
1777.34
8533.28
GIPSA
23
2009-10
2010-11
2011-12
2012-13
Underwriting
-4297.16 -4630.78
Profit/Loss
-7711.57
-6142.25
-5311.09
Investment
Income
4793.84
6372.22
7778.49
7265.83
8533.28
PBT
578.20
1537.88
-24.74
1322.84
3282.30
PAT
508.87
1288.12
-161.75
1144.25
2600.57
2008-09
GIPSA
24
YEAR
Permissible (%)
Actual (%)
2008-09
28.45
31.38
2009-10
28.35
32.53
2010-11
26.75
32.91
2011-12
26.53
27.49
2012-13
26.13
27.84
GIPSA
25
NIA
OIC
UII
Permi
ssible
Actual
Permi
ssible
Actual
Permi
ssible
Actual
Permi
ssible
Actual
2008-09
29.08
31.72
27.68
31.99
28.74
29.70
28.55
31.80
2009-10
29.02
35.75
27.41
33.93
28.70
31.10
28.51
29.36
2010-11
29.05
31.98
26.27
31.53
25.73
34.94
25.92
33.64
2011-12
29.12
28.66
25.80
28.00
25.47
28.14
25.62
25.36
2012-13
29.16
26.54
25.41
27.24
24.59
31.31
25.04
27.26
GIPSA
26
YEAR
NIC
NIA
OIC
UII
ALL COs
2008-09
No
No
No
No
No
2009-10
No
No
No
No
No
2010-11
No
No
No
No
No
2011-12
Yes
No
No
Yes
No
2012-13
Yes
No
No
No
No
GIPSA
27
SOLVENCY MARGIN
YEAR
NIC
NIA
OIC
UII
2008-09
1.50
3.35
1.51
2.52
2009-10
1.37
2.59
1.33
2.71
2010-11
1.34
4.50
1.34
3.32
2011-12
1.60
4.63
1.56
3.41
2012-13
1.56
4.39
1.66
3.32
GIPSA
28
MANPOWER
TOTAL STRENGTH OF FOUR CLASSES OF
EMPLOYEES IN GIPSA COs. AS ON 31.03.2013:-
Class
No. of Employees
Class I
23175
Class II
6911
Class III
27445
Class IV
TOTAL
8179
:
65710
GIPSA
29
No. of
Employees
(Rs. Cr.)
Productivity/
Employee
(Rs.'000)
%
Growth
in Prod.
Y2Y
Gr.
Prem.
31.03.2008
69445
17813
2565
5.34
31.03.2009
69026
19107
2768
7.92
31.03.2010
68618
21839
3183
14.98
31.03.2011
67341
26417
3923
23.26
31.03.2012
66778
32263
4831
23.16
31.03.2013
65710
37072
5642
16.77
GIPSA
30
GIPSA
31
GIPSA
32
GIPSA
33
GIPSA
34
GIPSA
35
HR INITIATIVES
Earlier, Management Consultants in each
Company took extensive studies in the area of
Manpower Planning.
Need based changes in Promotional Processes
undertaken by GIPSA to address the
contemporary requirements in the changed
business scenario.
Special Promotion Exercise carried out from
Class II / Class III to Class I (Scale I) with
relaxed conditions.
29th January, 2014
GIPSA
36
CLASS I
NATIONAL INSURANCE COMPANY OFFICERS ASSOCIATION
NEW INDIA ASSURANCE COMPANY OFFICERS ASSOCIATION
ORIENTAL INSURANCE COMPANY OFFICERS ASSOCIATION
UNITED INDIA INSURANCE COMPANY OFFICERS ASSOCIATION
CLASS II
1. ALL INDIA GENERAL INSURANCE FIELD WORKERS
ASSOCIATION
2. BHARTIYA VIMA KARAMCHARI SENA
3. GENERAL INSURANCE DEV. OFFICERS FEDERATION
CLASS III/IV
1. GENERAL INSURANCE EMPLOYEES ALL INDIA ASSOCIATION
2. ALL INDIA INSURANCE EMPLOYEES ASSOCIATION
3. NATIONAL FEDERATION OF GENERAL INSURANCE EMPLOYEES
ASSOCIATION
GIPSA
37
REPRESENTATION OF EMPLOYEES BY
CHECK-OFF QUALIFIED UNIONS/ASSOCIATIONS
EACH OF THE CHECK-OFF QUALIFIED UNIONS
REPRESENTS ONE CLASS OF EMPLOYEES.
LAST CHECK-OFF EXERCISE CONDUCTED IN THE
YEAR 2012.
10 UNIONS / ASSOCIATIONS REPRESENTING
EMPLOYEES / OFFICERS QUALIFIED IN THE CHECKOFF EXERCISE OF 2012.
CHARTER OF DEMANDS IS RECEIVED FROM CONFED
IN RESPECT OF ALL CHECK-OFF QUALIFIED UNIONS
FOR CLASS I.
CHARTER OF DEMANDS FROM ALL OTHER CHECKOFF QUALIFIED UNIONS REPRESENTING OTHER
CLASSES OF EMPLOYEES ARE ALSO RECEIVED.
29th January, 2014
GIPSA
38
NIA
OIC
UII
ALL Cos.
1122.38
1534.18
1180.49
1255.48
5092.54
GIPSA
39
Management
Expenses
Wage Bill
Wage Bill
(%)
2008-09
4426.21
3293.97
74.42
2009-10
5344.12
3829.63
71.66
2010-11
6843.46
5182.30
75.73
2011-12
6770.17
4798.53
70.88
2012-13
8037.95
5863.56
72.95
GIPSA
40
2007-08
2011-12
17813.00
32263.45
2676.00
4740.70
69445
66778
25.65
48.31
88.36
3.85
7.10
84.23
GIPSA
41
COMPONENT
AMOUNT
1931.14
37.92
DA
1102.54
21.65
325.84
6.40
3359.52
65.97
354.34
6.96
1338.46
26.28
40.23
0.79
5092.56
100.00
OTHERS
TOTAL
OTHER NON-RETIRAL BENEFITS
RETIRAL BENEFITS
REIMBURSEMENTS / EXPENSES
GRAND TOTAL
January 29th, 2014
GIPSA
42
CL II
CL III
CL IV
TOTAL
05001 - 10000
36
69
3397
3502
10001 15000
167
2135
4228
6530
15
8513
15001 20000
1831
251
6416
20001 25000
1694
1045
11794
14533
25001 - 30000
4517
1596
7475
13588
30001 35000
7392
3920
230
11542
35001 40000
3974
3974
40001 45000
1943
1943
45001 - 50000
525
525
50001 - 55000
75
75
55001 - 60000
30
30
TOTAL
November 28, 2008
21981
7015
GIPSA
28119
7640
64755
43
CHALLENGES AHEAD
EXTERNAL CHALLENGES
INTERNAL CHALLENGES
GIPSA
44
EXTERNAL CHALLENGES - 1
Intense Competition on more profitable
lines of Business.
Premium rates continue to remain under
pressure.
Business acquisition cost continues to rise.
Re-insurance costs also continue to rise
due to reduction in ceding commission by
Treaty Re-insurers to compensate for
lower rates.
GIPSA
45
EXTERNAL CHALLENGES - 2
Shadow of continued global recession
looming large on Indian Industry and
Economy
Capital Markets continue to be volatile
having impact on income from investment
portfolio.
Changing customer profile and increasing
customer expectations
New emerging risks and need for
continuous innovations
29th January, 2014
GIPSA
46
DEMOGRAPHIC CHANGES
CHALLENGES IN TERMS OF
INTERMEDIARIES, REGULATOR AND
GOVERNMENT POLICY
SERVICING CUSTOMERS THROUGH
E-COMMERCE
KEEPING PACE WITH, UTILISING AND
ADOPTING NEW TECHNOLOGIES
INFLUENCE OF SOCIAL MEDIA ON SOCIETY
NURTURING SOCIAL MEDIA FOR THE
BENEFIT OF THE INDUSTRY
29th January, 2014
GIPSA
47
CONTINUOUS INNOVATION
DEVELOPING PRODUCTS TO MEET THE
REQUIREMENTS OF YOUNG POPULATION IN
THE CONTEXT OF DEMOGRAPHIC CHANGES
EXPLOSION IN THE GROWTH OF HEALTH
AND MOTOR SEGMENTS CONVERTING
THIS INTO AN OPPORTUNITY
GIPSA
48
INTERNAL CHALLENGES - 1
Statutory limits on ME Ratios Sec. 40 C
Every rise in Wage Bill demands
corresponding rise in productivity
There is need for evolving a producitivity
based compensation package to retain
talent
Skill gap in the manpower flowing from fast
changing technologies
29th January, 2014
GIPSA
49
INTERNAL CHALLENGES - 2
Adverse age profile of manpower
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.
Need for Loss Management and
Minimization
Attitudinal issues of manpower at various
levels
GIPSA
50
PROJECTIONS
2013-14
Gross Prem
(Global)
15.91
37072
42970
49807
57731
66916
77562
M. Exp (without
Wage Revision)
16.95
8038
9400
10994
12857
15037
17585
21.68
21.88
22.07
22.27
22.47
22.67
194
226
265
310
362
424
Total ME
8232
9627
11259
13167
15399
18009
ME (% to GP)
22.20
22.40
22.60
22.81
23.01
23.22
Required Global GD
Prem. for 19.50% ME
42214
49369
57737
67523
78968
92353
Gap in Premium
-5142
-6399
-7930
-9792 -12052
-14791
ME %
Addition to ME with
5% WR w.e.f.
01.08.2012
5.00
GIPSA
51
ACTUAL
2012-13
PROJECTIONS
2013-14
Gross Prem
(Global)
15.91
37072
42970
49807
57731
66916
77562
M. Exp (without
Wage Revision)
16.95
8038
9400
10994
12857
15037
17585
21.68
21.88
22.07
22.27
22.47
22.67
398
465
544
636
744
870
Total ME
8436
9866
11538
13494
15781
18456
ME (% to GP)
22.76
22.96
23.17
23.37
23.58
23.79
Required Global GD
Prem. for 19.50% ME
43261
50594
59169
69198
80928
94645
Premium Shortfall
-6189
-7624
-9363
-11468 -14012
-17083
ME %
Addition to ME with
10% WR w.e.f.
01.08.2012
10.00
GIPSA
52
P.A.
Growth
@
ACTUAL
2012-13
PROJECTIONS
2013-14
Gross Prem
(Global)
15.91
37072
42970
49807
57731
66916
77562
M. Exp (without
Wage Revision)
16.95
8038
9400
10994
12857
15037
17585
21.68
21.88
22.07
22.27
22.47
22.67
581
679
795
929
1087
1271
Total ME
8619
10080
11788
13786
16123
18856
ME (% to GP)
23.25
23.46
23.67
23.88
24.09
24.31
Required Global GD
Prem. for 19.50% ME
44200
51691
60453
70700
82683
96698
Gap in Premium
-7128
-8721
-10646
-12969 -15767
-19136
ME %
Addition to ME with
15% WR w.e.f.
01.08.2012
15.00
GIPSA
53
P.A.
Growth
@
ACTUAL
2012-13
PROJECTIONS
2013-14
Gross Prem
(Global)
15.91
37072
42970
49807
57731
66916
77562
M. Exp (without
Wage Revision)
16.95
8038
9400
10994
12857
15037
17585
21.68
21.88
22.07
22.27
22.47
22.67
775
906
1059
1239
1449
1695
Total ME
8813
10306
12053
14096
16485
19280
ME (% to GP)
23.77
23.98
24.20
24.42
24.64
24.86
Required Global GD
Prem. for 19.50% ME
45193
52853
61811
72288
84541
98871
Gap in Premium
-8121
-9882
-12004
-14557 -17625
-21308
ME %
Addition to ME with
20% WR w.e.f.
01.08.2012
20.00
GIPSA
54
HOPES - 1
Continuous innovation of business practices and
changes in the organization structure.
Developing innovative products meeting the
expectations of the policyholders.
Focus on financial inclusion plan for customer
service which helps in growth in business.
Optimum utilization of technology for rendering
customer service.
Induction of young employees into the organization
making it vibrant.
Any other suggestions from the learned
participants.
Let us evolve an Agenda to meet the challenges.
GIPSA
55
HOPES - 2
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
56
CHARTERS OF DEMANDS - 1
One more option for Pension.
Increase in Salary by 40%.
Effective date of revision 01.08.2012.
Demands for DA neutralization varying
GIPSA
57
CHARTERS OF DEMANDS - 2
Running scales for all cadres with a pay
GIPSA
58
CHARTERS OF DEMANDS - 3
On retirement, shortfall in EL for
GIPSA
59
CHARTERS OF DEMANDS - 4
Deletion of Termination Clause for not
GIPSA
60
CHARTERS OF DEMANDS - 5
Cost Ratio to be relaxed to 9%, 10%, 12%
GIPSA
61
CHARTERS OF DEMANDS - 6
Incentives to employees posted in one
GIPSA
62
WAY FORWARD
CHALLENGES ARE, BUT CHALLENGES ONLY
ALL CHALLENGES ARE SURMOUNTABLE
THE SOLUTION IS INNOVATION
LETS WORK TOGETHER, BE PROACTIVE,
GIPSA
63