IRDA mandates 100 hours of training prior to issuance of license to an individual to operate as an insurance agent. Insurance companies recruit self employed individuals as agents and often sponsor the training charges.
A lot of training is also imparted by the insurance companies prior to and post issuance of the license. These trainings are on soft skills, product knowledge and competition analysis.
The scale at which agents are recruited by insurance companies is huge and it is an ongoing process. Some of the private insurance companies have more than 100,000 agents.
Agent attrition rate is as high as 70% in this industry, and the productivity is approximately 1.5 policies per active agent per month. Hence, it is extremely important that the training department is equipped with solutions that can help them conduct trainings simultaneously across multiple locations, without actually traveling to those locations to increase effectiveness.
To increase effectiveness, the solution should have the ability to stream the training programs as and when required so that multiple trainings can be imparted to the agents, without actually involving the trainers every time.
Avaya offers audio, web & video collaboration solutions for conducting the training sessions remotely.
The training sessions can be scheduled through calendar entries and the agents can participate over Internet or from any branch location. The trainer can be available centrally and provide trainings over the web.
The solution offers ability to share and display the content from the trainer desktop to all the participating agents as well as discuss with them over the audio.
The trainer can also push questions online to the participants to understand the effectiveness of the session, clarity of the participants on the subject and to get the feedback.
The participants can ask any questions during the training session which can be answered by the trainer. These sessions can be recorded and stored in a centralized location and can be accessed by the insurance agents as and when required.
The above solution reduces the training cost of the insurance companies drastically since the trainer does not have to travel to different locations to impart training. Multiple agents from different geographies can simultaneously attend the sessions.
It provides an experience similar to attending a classroom training and feedback and questions can be collected online.
It also enables the insurance companies to provide training to their agents, at a time convenient to them, without a trainer being involved. This also allows the agents to run through the training sessions at their own pace.
