Get the complete project »
- The Complete Research Material is averagely 52 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
This research study is an attempt to X-ray and given an in-depth analysis of the importance and effectiveness of training programmes in Niger Insurance Plc. Training is a vital and necessary activity in all organization, it plays a large part in determination, it plays a large part in determining the effectiveness and efficiency of the organization. Therefore, every organization should continually train its employees for attainment of its goals and objectives. For the purpose of this research of the researcher made use of data collected through primary and secondary sources primary data were collected by the researcher himself directly from Niger insurance of Nigeria Plc. through oral interview and questionnaire. In addition, the data collected were analysed. In analysing the data were first presented in tables and then interpreted and analysed to demonstrate result. The finding disclose that training programmes are available and that every employees benefits from the programme in the company. Thus, in conclusion the researcher emphasizes the need for continuous training of employees.
1.1 Background to Study
Today, organizations are recognizing the importance of using best practices to enhance the skills and knowledge of the workforce to have a competitive edge over other organizations competing in the market. An essential component of every organization is "training and development" of its employees. The effectiveness of training can be measured if the knowledge and skills of the potential employees is harness and developed. Harnessing, transferring and equipping information and knowledge to the potential employees within an organization in order to interpret that information and knowledge into practice with a vision to improve the organizational effectiveness and productivity and the management of the people in referred as training in general terms.
Training programmes and development of new employees after recruitment and selection process is an on-going and many folded set of activities. Training and development is carried on in order to convey knowledge and skills to a big shot, over and over again to perform a job or a new role in the future. In Organisation Life Insurance Company Private Limited, training is considered as an effective tool to keep hold of and motivate their people and to be acquainted with technical change and customer services. Training and development programme must be strategically arranged in a line with the mission and goals of an organization. It needs to be aligned and designed with the aim of training and equipping employees to achieve the organizational goals, departmental as well as personal goals.
Training and development function is progressively more than a programme. Increasingly, it is a tool for breaking the new grounds and conveying continuous learning process and bringing about the change through training and development activities. Improved productivity has turn out to be universally recognized by the organization and it is dependent on efficient and effective training of the employees. Now a day, Insurance Companies are investing on training and development of its workforce to stay ahead and to gain competitive advantage. In order to stay competitive and to guarantee brilliant and skilled staff, organisations need to make sure the training and development of all the employees. Staff training and development is the bottom line of organization success.
Planned training and development programme is a systematic development of knowledge and skills, attitude required to perform a job by the employees. Fresh candidate into an organisation carry certain skills and capabilities which are not pertinent to its goals and objects and or needs most of the time. It is the planned training and development program which are entailed for the new and existing employees to facilitate them to work in the direction of achieving expected destination of the organization. Mental, phyorganisational, social and intellectual trainings all are very essential for the development of personal and as well as for organizational success.
1.2 Brief Historical Background of Niger Insurance Plc.
Niger Insurance Plc. was incorporated on the 29th day of August, 1969 as a Private Limited Liability Company (The Niger Insurance Company Limited) with an authorized share capital of N50,000 to take over the undertakings, assets and liabilities of the Yorkshire Insurance Company Limited, a fully owned British Company that had decided to stop transacting Insurance business in Nigeria from 1969, sequel to the promulgation of the Companies Decree of 1968, requiring all foreign companies in Nigeria to be formally incorporated locally and be operated as such. This was the situation up to December 1973 when Yorkshire Insurance Company Limited of England sold its entire shareholding in the Niger Insurance Company Limited to National Insurance Corporation of Nigeria. The result of the above transaction was that the Niger Insurance became a wholly-owned subsidiary of National Insurance Corporation of Nigeria. The company is now a fully privatized composite Insurance company quoted on the floor of the Nigerian Stock Exchange. Currently, Niger Insurance Plc. is among the "BIG FOUR" in terms of total gross premium income.
The public quoted composite Insurance company presently operates with assets based in excess of N5 billion and a fully paid up authorized share capital of N400 million.
Man Power Base
The management team of the company is made up of trained, experienced and competent professionals with extensive management and technical skills.
Niger Insurance Plc. is fully computerized with the most advanced software technology. The computer network is capable of expansion and upgrading to meet with present and future increases in the volume of business.
Niger Insurance Plc. has also put in place sound reinsurance treaties with local and foreign first class reinsurance companies led by Swiss Re. These comprehensive securities ensure financial stability and exude confidence in its service to both present and prospective customers. As a composite Insurance Company, Niger Insurance Plc. transacts all classes of Insurance business and offers a wide range of innovative and customer-oriented products and services to its growing clientele.
At Niger Insurance Plc. they are very flexible in their product development because they realize that no two customers are exactly the same.
Moreover, their products are backed up with one of the most efficient and constantly improving claims settlement procedures in the insurance market.
The following are broad spectrum of the products and services the company is offering:
Life and Pensions
The company's commitment to rendering the best service in this area of operation places it’s among the top three companies in the industry with the largest life and pension’s portfolio. These products which the company has carefully packaged include:
Personal Pension and Saving
Niger Cash Plan
Child Endowment Scheme
Deposit Administrative Scheme etc.
The policies relating to the above and designed to provide indemnity against material and pecuniary losses arising out of various risks.
Fire and Allied Perils
Burglary and Housing Breaking
Special Risk and Miscellaneous Insurance Business
In this category, the company offers specialized policies to cover losses from risks such as:
Oil and Energy
Aviation and Marine Hull
Niger Insurance Plc branch offices are manned by well trained and motivated personnel nationwide but are coordinated from five Regional Offices.
Eastern Regional Office, Port Harcourt
Lagos West Regional Office
Abuja Regional Office
Kano Regional Office
Ibadan Regional Office
1.3 Statement of Problem
Employee training is a learning experience; it seeks relatively permanent changes in the employees that improve their job performance (David A De Cenzo & Stephen P. Robbins, 2007). Insurance industry is the major contributor in Indian economy (IC 33, Life Insurance by Dr. Sashidharan Kutty & Prof. Pranav Misra, 2014). Insurance services add about 7% to the country’s GDP. Employees in insurance sector of Coimbatore district - the Life Insurance, Non-Life Insurance (Medical Insurance & General Insurance) are studied for this research.
The reason for this study is the importance of training in industrial sector has become necessary one to impart knowledge and skills to employees for the better performance, in the job Industries like insurance sector are concentrating more on training both new and existing employees. The time and money spent on training in insurance industry is also comparatively more. But, it’s a big question. Does the training bring changes in the employee’s‟ tendency, attitude and performance?
They seems self-oriented or towards the self-development than contributing for the company’s development. Hence the attrition rate in the insurance sector is also high. Employees are moving to other companies after acquiring the necessary skills through the training provided by the previous companies. How does the organisation get benefited through the employees’ performance? Is there improvement in employees‟ productivity and organisations profitability? Hence, this study has been conducted to find out the effective and efficient functioning of employees after the training.
1.4 Objectives of Study
This research work has the general objective of evaluating the effect of manpower development on the insurance industry; a case study of Niger Insurance Plc., the specific objectives are stated below;
1. To ascertain the effect of a mutual relationship between management and employees.
2. To highlight the effect of employee trainings on workers performance.
3. To determine the importance of manpower development in the insurance industry.
4. To examine the relationship between employee training programmes and labour management relations.
1.5 Research Questions
1. What is the effect of a mutual relationship between management and employees?
2. What is the effect of employee trainings on workers performance?
3. What is the importance of manpower development in the insurance industry?
4. What is the nature of relationship between employee training programmes and labour management relations?
1.6 Research Hypotheses
H0: There is no significant effect of manpower development on the insurance industry
H1: There is a significant effect of manpower development on the insurance industry
1.7 Significance of the Study
The benefit of this study is as follows:
· It will help the labour and management of an organization to know the areas they are performing well and how important a role is played by manpower development and employee training
· It will help management to know what it entails to improve performance in an organization via manpower development
· This study will help management to know the benefit of good work relations and employee trainings and investment
· This study will motivate other researchers to go into further study on the issue, as well as provide a structural background for the future research work.
· The information contained in this study will be of immense value to students, management and the public as it will constitute to the existing body of knowledge in this area of study
1.8 Scope of the Study
This study attempts to examine the effects of manpower development on the insurance industry; a case study of Niger Insurance company, and all data used for this work will be gotten from there.
1.9 Definition of Terms
Manpower Development: now commonly referred to as human resource development is an on-going process that analyses, forecast and projects an organization’s future manpower requirements. In other words, manpower development focuses on such issues as whether the organization is ready to compensate for the loss of experience from retiring employees and if employees are adequately prepared to implement organizational change with their skills as a result of the experience they have gained from their various higher institutions. Manpower development is a process that seeks to optimize an organization’s usage of its human resources. It requires an integrated approach that addresses multidimensional aspects of employees, ranging from enhancing technical and interpersonal skills to creative thinking and leadership.
In human resource development, learning and training for individuals and organizations, John P. Wilson says the term development implies an improved situation attained by an individual through learning.
Richard A. Sawson and Elwood F. Holton in “Foundations of Human Resource Development” define human resource development (a more recent term for manpower development) as a process that helps develop human expertise through personnel development with the objective of enhancing performance.
Manpower development is a term used to describe the individuals who make up the workforce of an organization. Manpower development which can also be referred to Human
Insurance: an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
SIMILAR INSURANCE FINAL YEAR PROJECT RESEARCH TOPICS
1. PROBLEMS AND PROSPECTS OF EXTENDING INSURANCE SERVICES TO OBA IN ANAMBRA STATE; A case of Agricultural Insurance» Chapter One Introduction 1.1 Background to the Study The agricultural sector is a major economic sector and a critical source of livelihood in many de...Continue Reading »
» Abstract This study is titled the implications of ownership structure of insurance companies on policy holders patronage. I looked into the problem th...Continue Reading »
3. THE IMPACT OF NATIONAL INSURANCE COMMISSION IN THE PROMOTION OF NIGERIA INSURANCE MARKET OPPORTUNITY» CHAPTER ONE INTRODUCTION 1.1 Background of the Study The contribution of insurance to economic growth is huge and unlimited. Insurance is of great imp...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1. BACKGROUND TO THE STUDY Insurance as a concept has economic, sociological and legal dimensions that make it difficult to...Continue Reading »
» ABSTRACT This project titled the challenges of improving free and compulsory education is timely and an active field of research.This means tuition fr...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.0 BACKGROUND OF THE STUDY Insurance is a security device used by the inured to protect himself against a risk purchased fro...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY The impact of the 2008 global financial crisis on many economies re affirmed the need to protect ...Continue Reading »
» CHAPTER ONE INTRODUCTION BACKGROUND OF STUDY Losses and risks are inevitable, but human societies have created novel ways of reducing the burden of lo...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1. Background of the study This study examines the factors that influence the techniques of credit risk modeling for life i...Continue Reading »
» Abstract In Nigeria the issue of taking life assurance policy has been neglected in the sense that at this presence time, it is estimated that not up ...Continue Reading »