January 2010
12
Lakshya Thailand
SWADIKA TO THAILAND 6
Product Launch
Flexi Life & Flexi Life Plus
18
Q&A
In Conversation with Uco Vegter
16
In Focus
Green Belts & FoCUS Team
22
ING Vysya Foundation
‘I Believe I Can Fly’
Dear Colleagues, The year 2009 was one of the most challenging years in recent times, owing to the economic uncertainties across the globe. After a year of uncertainty, the last quarter of 2009 saw a turn around with an upward revision of the GDP numbers, both actual and forecast. In October, November, December, the insurance industry registered a robust growth over last year with every industry watcher predicting a 15 to 20% top line growth in the rest of the fiscal. I am glad to share with you that, as a company, we have faced these challenges boldly, taking effective and timely decisions. In 2009, we defined our Lakshya (to breakeven by 2011-12), along with the KPIs (Key Performance Indicators) of total premium income, expense management, value of new business, assets under management & nonfinancial risk. Given the challenging market environment in the major part of 2009, we are tracking well on most of our KPIs. We will, however, need to rise up to the opportunity that the last quarter of the fiscal provides, to achieve our premium income targets. Entering into 2010, I am happy that our organisation has come out stronger from the challenging period. With improving economic conditions and a revival in the industry, we need to adopt an approach of ‘controlled aggression’ to capture market share and top line growth.
well prepared to support the business effort this quarter, with significant investment in a unique and exciting sales contest which favourably rewards performing sales employees, advisors and partners; the launch of 5 new ULIP products that comply with the new Unit Linked guidelines and further strengthens our product portfolio; and an extensive branding and marketing support through innovative collaterals to help our sales force sell better. With the entire organisation backing us, I would like to see each one of us outperform ourselves and work as a determined team to ensure we deliver on our objective for this quarter. On behalf of the Executive Team, I would like to appreciate your commitment towards your company. We look forward to working with all of you towards achieving our Lakshya in 2010. I wish you and your families a very Happy New Year!
Entering into 2010, I am happy that our organization has come out stronger from the challenging period. With improving economic conditions and a revival in the industry, we need to adopt an approach of ‘controlled aggression’ to capture market share and top line growth.
Best Regards,
Kshitij Jain, MD & CEO
You are aware that JanuaryFebruary-March is the most critical quarter in the life insurance industry. Your organisation is
2
The ING Story If someone asks you what ING does, how do you reply? Here are a few facts to help you out. ING is a leading global financial services company and among the world’s top three savings banks. With leading positions in Europe and North America, and strong footprints in the fast growing markets of Asia, Central Europe and Latin America, ING is ranked the 8th largest corporation in the world*.
In a minute
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With 125,000 employees serving more than 85 million customers in over 40 countries, we aim to set the standard in the way we help customers manage their financial future. We offer banking, investments, life insurance and retirement services that serve our customers throughout the course of their lives.
2009 Lakshya Thailand
Looking at the combination of consumer trends and our strengths, we see four clear priorities on which we will increasingly focus our energies: •
Retail customers (middle-class consumers)
•
Bank distribution (selling our products including insurance products - through banking networks)
•
Developing markets and high-growth markets
•
Offering a distinctively ‘easier’ customer experience
Product Launch 10
An overview: ING Life India
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Focusing on these priorities will allow us to achieve real growth - both organically and through add-on acquisitions - while benefiting shareholders, customers and employees alike.
wpc 15
Survey 2009 results are now available
Number of employees including front line sales is 6,000+
Advisors
62,000+
Customers
8,00,000+
Cities
234
Branches
265
Sales Teams
366
Alternate Channels Partners
200+
*Fortune 500, July 2009
A
18
&
Uco Vegter Chief Marketing & Strategy Officer, ING Life, India
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News from ING Group The future is what we make it Insurance and IIM over time led you to feel that this business is being pushed aside. That’s not the truth—let me set the story straight.
Jan H.M. Hommen Chairman of Supervisory Board and CEO Executive Board
As employees continue to share their reactions to the announcements of 26 October, ING Group CEO Jan Hommen responds to key questions and concerns. It’s been an intense couple of weeks for everyone at ING, and I’m glad so many of you have taken the time to share your feedback on the announcements of 26 October through e-mails and the intranet. Thank you. You didn’t hold back, and if one thing jumps out, it’s that your reactions really depended on which part of the business you’re in, where you’re located and how long you’ve been with ING. In other words, “where you sit is where you stand!” I want to respond to some of the key points you made and share some of my own thoughts. An end, a beginning Let’s turn to the biggest news first: the decision to split Banking and Insurance. According to a poll we ran, the majority of you say you understand the decision. At the same time, it’s clear that you’re extremely proud to be part of a company that is a global financial services powerhouse, and many of you said you’re disappointed at the idea of losing that. I understand that feeling. Believe me, it wasn’t an easy decision. What helps keep me motivated now is the same thing that’s motivated me in the past—the pride I feel in our businesses and their people: the strong positions you’ve built up, the commitment you’ve shown in implementing Back to Basics in tough times, the customer relationships you’ve nurtured, the teamwork you’ve demonstrated, and much more. While it’s true that the size and composition of our company will change over time, these are strong foundations to build on, whichever business you’re in. Insurance and IIM In general, those of you in Banking responded differently to those in Insurance or IIM. Some of you said that the news that we’ll separate out
Both Banking and Insurance are good businesses, and I truly believe they have promising futures ahead. While we made the decision to split for strategic transparency and financial reasons, it is not a reflection on the value or strength of the Insurance and IIM business. These are more than just words: this week, the Management Board Insurance launched a special project to build on the strengths of our insurance and investment management businesses by sharing best practices and standardising those that can really create competitive advantage globally, whether it’s in common risk management processes, service and process excellence, IT platforms or purchasing. There’s opportunity here. Looking forward, we’ll be working carefully on several tracks for how we separate the insurer from the bank by 2013. We’ll form a team to start initial preparations for an IPO (whether global or regional), while keeping the option of divestments open. In the meantime, I’d like to stress that ING Group will keep supporting our Insurance and IIM businesses as before and as if it were the indefinite owner. While we’ve decided that Banking and Insurance need to part ways, we want to do what’s right—in fact, what’s best—for both of them. Banking So what am I hearing from those of you in Banking? In general, you raised different questions, particularly regarding the new structure and management changes, how this will work in practice, and what it will mean for employees. My main message here is that the vision for “One Bank” that we announced with Back to Basics hasn’t changed. The new structure is a continuation of our strategy to create a primarily European retail and commercial bank, with selective growth options
elsewhere. Our guiding principle for the new structure is to balance the benefits of clients, products and geography so that we can work better together and increase our focus on customers. The task now is to define exactly what needs to happen in each Banking area and implement this systematically. Those of you in the Banking units that will be divested—ING Direct US and Interadvies combined with ING’s existing consumer lending portfolio in the Netherlands—have also voiced your concerns about the decisions. As I’ve said before, these are two great businesses we would have preferred to keep. Under the terms of our understanding with the European Commission, we need to part ways, but rest assured that we’ll do this with the greatest of care and respect. Moving forward A number of your questions still need to be answered. For instance, how quickly will we separate the businesses? What does this mean for branding? What will happen with Group staff functions? I must be honest – I simply don’t know all the answers yet. The set of decisions we announced last week were very complex, and it’s going to take more work before we have all the details you want. I’d like to quote one of you who summed up what is perhaps the main issue on employees’ minds. “At the end of the day, each of us is most concerned with how the changes affect us, personally.” This will be different for everyone, and here too, it’s going to be a while before we know exactly what the future holds. But you also have control here— you can help to prepare for the successful future of your business, wherever it’s headed. Don’t lose confidence in that.
I can make you a promise I will keep you informed every step of the way, to the fullest extent I can, whether it’s through intranet columns, e-mails or town hall meetings. That’s my commitment to you. In the meantime, I’m asking for your trust and patience in helping with the next phase of the journey. Although these changes aren’t easy, we need to work through them. I firmly believe in the future of both Banking and Insurance, and I invite you to share that confidence. The future is what we make it.
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G-20
talks have set direction, now the “devil is in the details”
At the G-20 Summit held in the US on the 24th— 25th September, leaders from the countries that represent 85% of the world’s economy discussed further actions to assure a sound and sustainable recovery from the global economic and financial crisis. What do the results of the talks mean for ING? Here’s some perspective from Karien van Gennip, Director of ING Group Public and Government Affairs.
What do you think are the most important takeaways of the G-20 talks? One of the most important takeaways is actually the fact that the world leaders are talking together to address the crisis, and that they didn’t only do so once when it started, but now already for the third time. I think it’s very positive that our world leaders are trying to achieve a common understanding and shared direction. The second thing is that they’re not just talking about the financial industry, but also for example about climate change and jobs. That’s positive as well, because when you have a crisis you have to talk about the consequences in all areas. It’s good that it’s being addressed.
How important is the G-20 for the financial industry? For the financial industry, it’s essential to approach this consistently and internationally, because what we saw in the early stages of the crisis was that countries were mainly trying to put out their own burning houses. If you say French money is safe in French banks, you make it difficult for other
countries. We have to seek solutions that are at least European, preferably global, and that’s what people are trying to do now.
What was actually agreed upon? Details for the financial services industry include stricter existing capital requirements, new requirements for capital buffers, new requirements for counter-cyclical measures, and some additional measures for systemically relevant institutions, which are those that are very large or very interconnected (those that can bring down the financial system, like Lehman, ING or Barclays). These are things that are really for the institutions themselves; then there was some discussion on crisis intervention on the side of governments. One disappointing thing for us was the text on accounting. We want to have a level playing field on accounting, but the US accounting body went further than the IASB, which is the direction-setter for European rules. We would have welcomed the pressure for the IASB to make changes as well this year, but that didn’t happen.
What will happen now? The G-20 is a discussion forum—they don’t make the rules, they just set the direction. Then the Basel Committee, the Financial Stability Board and the governments have to work out proposals. The devil is now in the details. It will depend on how the proposals are worked out by the Basel Committee and the European Commission. That means that the work for us starts now, by trying
to influence the details and the regulations that are critical for ING. For example, the way capital is defined, the way crisis regulations are being implemented, that makes a huge difference. We are already working with all those organisations and there are already many discussions taking place on capital requirements, for example, both with the Basel Committee and the EC.
What role does ING and your department play? We have experts in working groups, we talk to people writing proposals, sometimes we write letters and sometimes Koos [Chief Risk Officer Koos Timmermans] goes to discussions himself. There’s a variety of ways in which we try to influence the discussions. Sometimes the influence is in communicating that we’re for or against something specific. Sometimes it is technical discussions in a very early stage. Or just a cup of coffee to understand the political goals. We analyse how certain choices would put ING’s in position in relation to competitors—so direction A would mean this impact, direction B would mean this one, etc. And sometimes our influence is in trying to help them understand technical details.
What’s the expected timing? Most decisions need to be made in 2011 and implemented in 2012. The direction has been set, now the work begins!
F1 Sponsorship withdrawn ING has announced it will terminate its contract with Renault F1 with immediate effect. This decision comes in response to the irresponsible actions by the Renault Formula 1 team at the 2008 Singapore Grand Prix and this week’s ruling by the World Motor Sport Council.
“The board and I find the actions of those involved totally unacceptable and in violation of our Business Principle of acting with integrity in everything we do,” says ING CEO Jan Hommen. “ING will not tolerate unethical behaviour among ING employees and leaders, and we cannot accept it among our business partners.”
The contract termination also has consequences for our internal and external marketing activities, which are also effective immediately. ING’s global marketing community is working together to manage ING’s exit in an orderly fashion. While ING’s sponsorship contract with Renault is terminated, our F1 track-side advertising contract with Allsport Management SA is separate and will continue through to maturation.
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News from ING Group
Message from Hans van der Noordaa We have made substantive progress across the region in managing our operating costs and capital which shows in our improved bottom line’’ Hans van der Noordaa, CEO Insurance Europe and Asia/Pacific
Following the announcements made by ING Group, I realise there is a lot of news, so please let me elaborate on some important decisions. First off, I would like to reiterate that separating the company is not a decision we took lightly. ING has a proud history as a global financial services leader and has been a strong advocate for combining Banking and Insurance in one company. The combination provided us with advantages of scale, capital efficiency and earnings stability through a diversified portfolio of businesses. However, the financial crisis has diminished these benefits. Now, the widespread demand for greater simplicity, reliability and transparency has made a split the optimal course of action. Meanwhile, ING’s discussions with the European Commission regarding restructuring requirement (a measure for all the European companies that received state aid) have also acted as a catalyst to move forward with a complete separation of our Banking and Insurance operations (subject to shareholder approval). I promise you, that we will work carefully over the coming months and years to manage the separation in a way that will support the success of our businesses in the interests of you, our employees, our customers and other stakeholders. I urge you all, to use this opportunity to help further build a new Insurer which will be created in the foreseeable future, either through IPO or through
divestment. ING Insurance Business Units enjoy long-term leadership positions in life insurance and retirement services across the world. Active both in growth markets and mature markets, I believe that the business is well positioned to capitalise on demographic trends and the increasing needs of our customers to save. The announcements also see me return to the Bank. With the Group’s change in direction, I am dedicated to address my retail banking experience to the Banking Management Board. Honestly, I deeply regret leaving the Insurance Management Board and Insurance Europe and Asia/ Pacific. I believe Asia/Pacific is currently addressing the right strategy to move forward and I strongly believe in its potential. I am confident about your future since it will be in the hands of Frank Koster, and ably supported by Tom McInerney. I know Frank well as a great executive with significant insurance experience both in Europe and in Asia, and who is very excited about the opportunities and the options to explore over the coming months and put in place a strong strategy for the future that will ensure the business reaches its potential. Please work with your management and communication professionals to ensure you have all the right information you need to communicate the news to our business partners, customers and other stakeholders. In the meantime, please focus on our single most important task, which is to help customers plan for their financial future.
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News from ING Life ING Life India’s credit portfolio gets ‘Very Good’ rating from Crisil Crisil, one of India’s top credit rating agencies has credited ING Life India’s overall credit portfolio as having ‘Very Good’ credit quality, with a portfolio credit score of 4.75 (on a scale of 0-30, the lower the credit score, the better is the credit quality of the portfolio). The portfolio score is in line with ‘very good credit quality’, on a scale of ‘Very Good’; ‘Good’; ‘Average’ & ‘Below Average’. This achievement is significant, and reflects the effectiveness of our sound investment philosophy that we practice while investing our customer’s money to help them manage their financial future. It reinforces our value of knowledgeable approach to our business. ING Life India’s investment philosophy is to create positive, above average return on our investments, within the realm of ‘optimal risk-return trade-off’, with a professional and transparent approach to investing. We benchmark the performance of our investments against industry indexes, including Crisil Bond Fund Index and BSE 100. Our investment decisions are based on our knowledge, backed by fundamental research. ING Life India launches its Customer Portal ING Life India launched two critical service delivery elements, which help enhance customer satisfaction. The customer portal is a self-service channel for our customers, who can now access their policy details at the click of a button, 24x7, thus making it easier and accessible for them! The launch is a small step towards building a more robust self-service capability for our customers, who are increasingly net savvy and expect instant access to their information. With the ING Life Customer Portal, our customers can now view policy details, premium
due dates, check the latest fund value, update email and mobile details and view and print premium receipts as well as premium paid certificates. The customer portal is a successful cross-functional project, which saw collaboration of ING Life IT, Contact Center, Project and Marketing teams. The portal has already registered over 3000 customers within the first month of launch! ING Life India launches the Interactive Voice Response System (IVRS) ING Life India launched an Interactive Voice Response System (IVRS) to help customers with a toll free number to get basic policy related information, (like premium due date, NAV, fund value, proposal status etc. ) available 24x7. The prototype of the IVRS system was built on a test platform to ensure rigorous testing to check the accuracy and quality of information read out through IVRS. Post a positive test result, the IVRS was promoted on all toll free lines supported by ING Life for both customers and advisors. A 30% reduction in call volume is expected due to the launch of IVRS. Got an idea? Give it to Idea Box! It can hit you on the stairs, over a cup of coffee with friends, or even in the middle of the night. But when it does, share your idea with the ‘IdeaBox’ at ING Life India because we are on the hunt for the best ones! With the bottom-line objective to improve and streamline our business processes, a unique idea named the Idea Box has been launched. Standing true to the
philosophy that an idea precedes an idea, The Idea Box encourages ING Life employees to share any suggestion that will lead to process improvement or have a significant implication on streamlining our processes, reducing expenses/cost and increasing revenue. This initiative encourages employees to partner ING Life in the continual improvement of its key business processes. The Idea Box team is committed to evaluate every idea against the parameters of revenue generation, cost reduction and process improvement with the help of an Idea Review board. This board comprises of members from the Senior Management Team and is responsible to ensure that every idea is given the chance it deserves and is evaluated against others on a common ground. With a strong call for action in its internal campaign titled, “Spark an Idea”, the team expects to receive encouraging response from across functions and hopes to take most of them forward towards successful implementation. The idea generator will be engaged through the process of implementation. What’s more encouraging is the recognition and reward that will follow, starting with a certificate of recognition from ING Life India MD & CEO.
If you have an idea that can make a positive difference and help us change for the better, we are listening!
Write to us at ideabox@inglife.co.in
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Product Launch
5 things you didn’t know about Flexi Life!
1 2 3 4 5
“Quote Unquote”
Premium Payment option through cash till Rs. 49,000/-
In-built Accidental Cover benefits option Auto option from 18 years
Death Benefit is Sum Assured of Life Covered + Fund Value (Including Holiday period)
Four free fund switches allowed in a policy year
No Surrender Charges after 6 years Full year’s premium paid and money back at the age of 18 without any charges
Flexi Life Plus allows our customers flexibility, convenience & value for money. This new generation ULIP with its flexible premium structure offers convenience for customers to manage their financial priorities in tune with our brand essence - MERA FARZ.
The key feature, which appeals more to the field is the flexibility in increase or decrease in premium from the second year onwards. Flexibility in settlement options safeguards customers’ maturity returns from market volatility.
Krishna Ved, RVP - AP
Laxmikant Pawar, RSM - West
The market has responded quite encouragingly as the advisors feel that this is a product which is mutually beneficial to customers and advisors! The flexibility in premium payment as well as the in-built accidental insurance is a good selling point and the death benefit, inclusive of Sum Assured and Fund Value is definitely a great differentiator. Syed Sarfaraz Ahmed, RVP - Central & East
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The launch of Flexi Life for IVB and Flexi Life Plus for Tied has clearly proven to be as one of the most successful launches from many perspectives. Firstly, the product itself is a powerful tool that has been created to suit the evolving needs of our customers and in many ways will prove to be a benchmark product in the industry. Being one of the first products in the industry which meets the ‘new
Flexi Life and Flexi Life Plus Two revolutionary products from ING Life India were launched recently to offer huge flexibility and convenience to customers. Both unit linked investment products are one of the first products in the industry which meet the ‘new charging structure’ proposed by IRDA, thus making it better value for money. Additionally, the product offers flexibility to change the premium amount as per the revised guidelines of the regulator, IRDA.
charging structure proposed by IRDA’, the product’s unique features will be perfect ammunition for the sales force! From
subject
matter
experts
conceptualising the product as per market trends, to detailed product specs designed by Sales, Actuarial & Marketing; the drawing board was an exciting stage where the synergies of the teams came together to add that extra excitement to the product building process! The quick development and testing by the IT & Operations team helped the product go ‘Live’ swiftly and helped us cross the last mile smoothly. The product has been packaged with some brilliant collaterals designed by the Marketing and Training teams, bringing that extra edge on board! Excellent project management to ensure we tie all team efforts most efficiently and the perfect launch by way of brilliant media coverage ensured
a
smooth
end-to-end
successful run of this product launch. The energies that have gone into making the product backstage will now be simulated front stage with the collective efforts of the sales teams. the best!
The Pride wishes them all
What’s Flexi about ING Flexi Life!
1 2
Flexibilityto Flexibilityto Choose Protection Change Premium cover The product offers the flexibility to the
a differentiator that will serve as the
vary the regular premium amount (75% to 125% of first year premium amount), from the 2nd Policy year. Furthermore, customers can invest additional amounts by way of top- up to add to their investments, whenever available.
3
Premium Holidayoption
ING Flexi Life Plus offers customers the convenience of premium holidays. This means that if the customer has paid premiums for a minimum of 3 full years, the protection benefit continues, even when they don’t pay their regular premiums, till the end of the revival period (i.e. 2 years). In case they have paid their regular premiums for a minimum of 5 full years, the life insurance cover (risk cover and enhanced accidental protection benefit) continues.
The customers have the flexibility to choose their protection cover, ranging from 6.25 to 25 times of the annualised first year premium. In addition, they also get the benefit of an in-built accident protection benefit.
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Flexible Investment option ING Flexi Life Plus offers a choice of four fund options to suit our customer’s investment objectives. These include Debt, Secure, Balanced and Growth options. Customers can review their fund performance and market conditions, and if required, enjoy the flexibility to switch existing investments amongst the funds.
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In conversation with Uco
&
A
Uco Vegter Chief Marketing & Strategy Officer, ING Life, India
Uco Vegter joined ING Life India on 1st Sept ’09 as the Chief Marketing & Strategy Officer and is responsible for developing and implementing
Business Strategy
and for overall alignment and leadership
of
the
Marketing,
Product Management, Quality and Business Transformation initiatives of the organisation.
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1. We extend a very warm welcome to you at ING Life India. Could you give us more insight into the man, Uco Vegter and your first impressions of India? I am originally a Dutch and an economist by training. Having completed my Masters from London School of Economics, I began my career in Consulting. During my work experience, I have had the opportunity to travel through many countries, with India being the 7th on the list.
I joined the ING family with corporate strategy for ING Group, followed by 2 years in Taiwan for the set up of their wealth management business. I always say this, India has been third time lucky for me and I couldn’t be more delighted! India has given me and my family a very rich flavour of its traditions and culture, which is truly a different experience for us. The Indian streets, the food, the autorickshaw rides, the complexities, the religions and the diversity are things that truly appeal to me. I feel a sense of special warmth in the Indian culture.
2. What are your impressions about the ING Life culture? How do you see the company going forward? Putting things in perspective, ING Life’s achievement in 8 years is no less than amazing! The excitement of this industry drives a lot of energy and forecasts tremendous changing dynamics in the years to come. While we have achieved some stability in the past, the next step is to grow further and come out winners. We must continue to report profitable growth through a conscious approach towards managing our costs. This does not mean cutting costs, but cleverly and judiciously focusing on fewer coherent deliverables and focus areas.
The encouraging thing is, our fundamentals and processes are in place and the basics are there. Now is the time to take this in our stride and deliver on our results to make a significant impact to our business. With an understanding that there is always room for improvement, I am keen to focus on areas where we can deep-dive and re-look at things from a fresh perspective.
3. What are some of the immediate challenges you see for yourself as Head of Marketing and Strategy, ING Life India? What are your priorities?
I believe we have a strong team with great stability and experience. There is an enigmatic diversity in the team, which lends in a healthy mix. I have observed good dynamics in the environment that encourages freedom to express opinion. This of course sets the right platform to encourage innovation and change. My personal interaction with
in giving people the freedom to explore things and bring their ideas to the table in order to bring out the best in them. I am a hands-on manager and like to be involved in the process of taking initiatives and change management and to be able to contribute to the teams’ efforts. While I would not like to call myself an authoritative leader, I do demand a lot from my team. I like to set ambitious targets and am a strong believer in rewarding success and never punish failure. Yes, failures might come in our way due to many reasons but as long as we learn from them, it is workable. The important thing is to bring a professional and positive attitude to work every single day! Remember, 1 plus 1 has to be more than just 2!
the Senior Management Team at ING Life India has also been extremely positive. I am not surprised to see where the energy and motivation in the teams come from!
My new role helps me take a lot from my background of setting up new businesses and intensive work in diverse fields like Project Management and consulting. This helps me lend a holistic and strategic approach into the great work that people are already doing here, and build in a more strategic framework around our business. There are clear priorities set for our road map ahead and I look forward to my team’s support to deliver on them, jointly.
The first strategic priority is to shift from a channel focus to a customer focus outlook. The attempt is to re-look our distribution model and our communication reach & effectiveness with a whole new perspective. In an industry like insurance, sales by nature plays a very important role and it is therefore critical that we listen to what our customers are saying, understand their needs and match that with our products, most effectively.
As the organisation matures, it becomes increasingly evident that the starting point of every initiative is the customer’s needs. Hence, the focus is clearly on identifying segments that we need to focus on going forward. I have committed to present the first segment of customer identification in the next board meeting due end of December, and the first steps towards this project have already been taken.
The second critical deliverable for me is to set up a new Product Management Team that will take on end-to-end responsibility of our product portfolio, identify which products to launch, target them to the right customer segment and replace the ones that are not existent. Clearly, understanding the dynamics between our customers, channels and products will be the means to the team’s success. This will be a key strategy change by end of next quarter and I am glad to see a lot of momentum towards that plan.
The third critical focus area for me is our delivery towards the 3 year breakeven plan. We must ensure that all the initiatives are aligned towards this big picture in order to contribute to the organisation’s goal plan. I am keen to see all the teams coordinating well and coming together to shoulder this responsibility.
4. Give us an insight into your leadership style and beliefs? I have an open door inclusive style of working and that is what I would define as my personal leadership style. I like to work with people and come to solutions together. I believe
5. What are your expectations from the employees on delivering on our 3 year business plan? My expectation is simple - Have a ‘Can do attitude’. The great thing about this plan is that while it is ambitious, it is not unrealistic. It is not based on ambiguous assumptions. With each one of us delivering our 100%, I am sure we will achieve this as a team!
I am a strong believer in team work and bringing a positive attitude to work. Highly motivated employees are the key to delivering results, and that is what I would expect of my team. Each one of us is a brand ambassador of our organisation and it is important that we reflect that positive spirit externally. It goes a long way in creating a strong employer brand image in the marketplace.
What are your hobbies and interests? What do you do at leisure? I enjoy spending time with my family. I love travelling and taking adventurous trips. Exploring India is the next big thing on my personal travel agenda! I am a complete sports buff and enjoy everything from football, cricket, and tennis to golf. I also enjoy cooking and would like to believe that Risotto is one of the best dishes that I can toss up. I enjoy Indian food and although I am still exploring, my favourite remains matar paneer!
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Q2 Lakshya Thailand - 09 From an exotic location to an exotic evening, from champagne to celebration, from adventure sports to breathtaking & spectacular acts; the Lakshya Thailand Q2 event was an experience of a lifetime for the ING Lions! Lions we say, for these are the performers who have exemplified the ING spirit of high performance, consistent delivery and roaring courage to go all out and deliver their best! Lakshya Q2 2009, held at Thailand from 11th to 14th November 2009, was a joint convention between the Tied Agency and Alternate Channels. This three day event was a platform to honor and recognise the finest and the best at ING Life India. Every effort was made to make this experience rewarding and absolutely exquisite! From customised welcome letters at the hotel to personalised pre-reserved seating with the Senior Management Team Members; the winners were made to feel special at every touch point over their four day visit to Thailand. The show stopper was of course the Gala evening
at The Zign Hotel, which had Rahul Agarwal, Chief Distribution Officer, TK Uthappa, Director SalesTied Agency, and Manoj Kaushik, Director Sales– Alternate Channels address the audience and set the context of the evening by acknowledging the awardees and honouring them with the Lakshya Thailand memento. The trophy that embodied the spirit of high performance, the spirit of achieving “Lakshya”, endowed true honour and pride to the top 20 advisors, top 3 SMs, top BM in each category, top AM in agency & top 6 performers in Alternate Channels. There was a special mention of Deepak Shah and Rahul Gore who were pleasantly surprised with a special recognition award for retaining their CEO Club membership for 4 consecutive years! Region and individual awards were given out by Rahul Agarwal, Manoj Kaushik and TK Uthappa and were duly cheered by a house of roaring audience! Followed by the momentous award ceremony were the stage performances that took the crescendo of the evening to an altogether different level! The ‘1000 hands of Buddha’ was a breathtaking
performance that portrayed precision to the core and personified true Thailand beauty in its dance form. While the salsa performance added to the glittering glamour quotient, the emcee engaged the audience with interactive games on the floor including the whistling competition, interestingly won by two ladies! An opening act on that high a note called for an equally soaring closing act. Aptly justified by the Timpani drummers, who elevated the spirits with the enchanting drum beats echoing in the hall and ING flags flying high! It is but moments like these that makes one feel an immense sense of pride in delivering and achieving the best and receive the finest recognition, in the league of the finest! While the rest of the evening was a culmination of a well deserved effort and had the dance floor asking for more; the event was certainly etched in the memories of all! The participants carry back a sense of accomplishment, honour and most importantly, a sense of pride for being a part of the ING Life Family! The Pride congratulates these ING Lions!
12
l a i
c peAwardees
S
Deepak Shah A man who is still young at heart, a management graduate with Masters Degree in International Science & Human Behavioural Science, Deepak likes traveling and is associated with an NGO for the upliftment of the tribals. Deepak joined ING as customer in June, 2002 and as advisor in December, 2002.
Rahul Gore A production engineer by qualification, Rahul was a government contractor by profession. He joined ING on 14th August 2003 as full time advisor. 4 times MDRT in a row, 5 times Grand Slammer and a 4 time CEO club member, Rahul is a consistent performer who believes in retail model and need-based selling. He has strong networking skills and a big satisfied customer base and has one of the best persistency rates. A passionate individual with high commitment, Rahul is an absolute go getter!
The Pride congratulates all the winners!
Name
Rank
Ranjeeta Dash
1
M. Radhika
2
Paragi Shah
3
Baikuntha Biswal
4
A. Kamalavalli
5
Deepak Shah
6
Vandana Khanna
7
Davinder Pahwa
8
Sadasiva Vutukri
9
C.K. Mohan
10
R. Gayathri
11
Pawandeep Bajwa
12
R. Sankaraiah
13
Albert Lobo
14
Bhim Singh
15
Kiran Sharma
16
Gurpreet Singh
17
Shaligram More
18
K. Balaji
19
Archana Gupta
20
C. Arunachalam
1
Sugumar S. N.
2
Shyamakrishnan Rammohan
3
Ranjit Jena
1
Gayathri Shivaram
2
Saritha Kumari Yadav
1
Category
Advisor
Sales Manager
Financial Consultant
Sales Officer Shivaprasad K.
2
A.V.Karthikeya
1 Territory Manager
Dharmesh H Parmar
2
G.K.Rajender Kumar
Cluster Manager
Prasant P.
Regional Manager
Satya Brata Dash
Area Manager
Anand J.
1
Abdul Sattar
2
Utkal Mohanty
3
Nihar Ranjan Mohanty
4
Top Branch Manager
13
the m o r f ses p m i l nt! e G v e g n ppi o t s w o Sh
14
Go Green The Lean Six Sigma way!
What started as a mandate change program in April 2009, has conspicuously bred into the culture of ING Life India, and is certainly difficult to overlook when a critical program or initiative is in consideration. The Lean Six Sigma (LSS) Executive training program in India early this year was instrumental in making the management get up and take notice of the value and the potential LSS stands to offer to the business.
The Lean Six Sigma (LSS) was adopted at ING Life India to foster a culture of continuous improvement and eliminate process inefficiencies. Soon after a successful launch pad with a Black Belt training program at ING Life India, led by Joost van Beveren, Vice President, Business Transformation, the program is beginning to see encouraging traction from all departments. Leading this program across the region is Troy Barnes, the Regional LSS Champion who explains, that the practice cuts across cultures and language barriers and identifies the values that are most important to the region. Six Sigma methodology challenges the teams to think of the various opportunities that arise out of the business and work on what appeals to them and the impact they wish to make to the business. The starting point is to build trust with the team through an open and honest communication. An Australian with a business degree in IT major, a specialisation in Project Management and more than 10 years of experience in leading change initiatives, Troy takes no time to put all the degrees sound almost inconspicuous and explains that all Six Sigma demands is 80% attitude and 20% skills. Beaming on the recent results of BBs across the region, Troy confirms participation of 18 BBs across 5 countries and a successful conversion
rate of 3 certified Black Belts in Hong Kong, Korea and the Regional office. A project that recently delivered results to the extent of $ 1.6 billion in Japan gives him and the organisation another reason to smile. Closer home, the impact to business processes is making ING Life India sit up and take notice. With the Black Belts having completed their certification and a project each in critical function areas, the obvious next step was to expand the reach and deep-dive into the business. The answer came in the Green Belt program. 13 Green Belts across functions were nominated and trained for a 3 month Green Belt Program. With an expectation to directly impact the bottom-line, every Green Belt trainee is leading a project in his/her respective function; that has the potential to deliver to the extent of Rs.15 lakh each. While the initial training was led by the regional trainers, Troy Barnes and Eddie Au, the GBs will be personally coached by Joost and the Black Belts to ensure they are guided to the successful completion of their projects. Says Joost, “After a week’s training on the Six Sigma Methodology of Define, Measure,
Analyse, Improve and Control (DMAIC), the objective is to help the GBs penetrate into the organisation, apply what they’ve learned into their respective projects and be instrumental in making change happen. I am personally eager to see each of them complete their projects, make a rapid change and strategically deliver to bottomline increments.” With 8 million Euros of hard revenue forecasted from the BBs and GBs collectively, they are certainly a bunch to watch out for.
With two key ingredients – right people and right projects, LSS will break traditional mindset and lead to organisational framework change.” Troy Barnes - Regional LSS Champion
15
In Focus - The focus Team The ING Life India foCuS Team has been formed with the bottom-line objective of supporting the organisation’s three year breakeven plan by spearheading dedicated initiatives to increase productivity. As a support pillar to the sales team to ensure smooth log-in to issuance of business, this team ensures maintaining the highest level of internal and external customer satisfaction by shouldering critical responsibilities like Welcome calling, Advisor administration and People management. From calling our valued customers prior to login of the proposals ensures increased ease of contact for future communication and services, to handling HR related activities like helping new joiners settle down, complete their joining process smoothly, managing employee exit process and also ensuring the display of all statutory notices at Branch; the Focus Team ensures they rise up to the call of duty through efficient and effective processes. While the sales processes remain the most important and decisive points in our business, the Focus Team plays a critical role in advisor administration by supporting the sales team in handling various advisor related activities right from the point of receipting to getting the advisors on board. The team also lends support in receiving their license, ID card and commission payouts, therefore ensuring a smooth and easier process. One of the most significant roles of the team remains facilitating our existing customers to continue to pay their renewal premiums on time and ensuring that maximum numbers of lapsed policies are followed-up with the customer for re-instatement. This vital responsibility is the most significant point of ensuring a healthy Renewals and Persistency model in the organisation.
tool to equip all the team members with information on key performance metrics. This helps the team in planning its activities to improve the performance metrics or plan any mid-course corrective measures to ensure that the deliverables are met.
While the team is already witnessing the successful outcome of some of their preliminary initiatives, some of them that have brought significant success to them are outlined below: Consolidated Field Ops Structure Following the re-alignment of the other functions in the field, the entire team structure has been consolidated and this consolidated structure has helped the team in providing better span of control across the organisation. This has resulted in greater visibility and support from the senior management, ensuring guidance and support at all times.
Plans on the anvil The team is now developing a comprehensive training framework to achieve greater efficiency and is all set to roll out Branch Operations Governance Manual to track productivity and reduce Audit gaps; if any. If innovation was the key, the team is already unlocking the power of recognising fast trackers and talented team members to develop a “Best in the Industry” team that is highly receptive, adaptive and efficient in its processes.
Aligned KRAs The KRAs of the entire team have been simplified to provide greater objectivity. This has ensured better alignment and more support to both internal and external customers. New MIS New MIS reports have been designed and implemented which act as a handy
With uniform processes being rolled out across all branches in order to comply with the audit and risk compliance, the team is an inspiration for all and is setting a benchmark for the organisation.
Plan and ensure the entire team delivers to its optimum level by being both efficient and effective in accordance with the laid down norms and processes.
Ensure the allotted branches are functioning smoothly.
Supervise the processing done by the team members and also support the team members in their day-to-day activities.
Follow the process laid down and ensure maximum productivity in an efficient manner.
The big shift of accountability is on the 13th month persistency, which is now the responsibility of the sales teams and is in line with ING Life India’s focus on improving persistency.
16
ht lig ot
Sp
erview
Brief Ov
of Andhra r district tu n u G wada is Located in kms. east of Vijaya 90 opet. Pradesh, f Narasara o n w to ll and the sma l crops ia rc e m m derives for co Famous the town called , s s e in s u b amindar jewellery the late Z m monly o fr e also com its nam is d n a ndu’. sarao Raja Nara e ‘Gateway of Pala th known as
Quick Facts Population – 1,30,000 Language – Telugu Literacy Rate – 74% Market Synopsis: With a strong insurance market and presence of most players, the city promises growth and tremendous opportunity for this sector. While a large profile of the population is that of businessmen, NRI professionals and government employees, insurance has a great demand in the area. Business Focus: The branch commenced its operations in December 2006 and since then has been laying special emphasis on Advisor development. By December 2009, the branch plans to have 50 ADP club members and 10 FCs on board. The team focuses on creating awareness and selling traditional plans. The dream of the branch is to develop a strong advisor force and be No.1 in town. The Team: Br. Manager: Abdul Sattar. Br. Co-ordinator – K.Vijaya Bhaskar Reddy SMs - J.K.M. Shariff (SSM), K. Sailaja Rani (SSM), N. Ranga Rao (SSM), S. S. Krishna Prasad (SSM), A. V. S. Prasad (SM), S.k. Mastan vali (SM), M.Ravikiran (SM), S.K. Jani Basha (SM), B. Suresh (SM), P. Ramesh (SM)
each other and winning together. The team believes in constant training to equip their sales team in a highly competitive market. There is a clear emphasis on developing the team’s skills, building their career and training them through team development programs to help them increase their productivity.
Top Advisors of THE Branch
Unit gatherings with the advisors and their family members have been the key for the camaraderie and bonding that the team shares.
Gold
Marketing Initiative: Medical camps in government schools, providing scholarships to underprivileged students in schools, conducting cricket and shuttle tournaments in nearby villages has led to significant brand building in this region. Milestones Achieved: The branch has been performing consistently since its inception, with its numbers and activations speaking for them. The team already has a lot of laurels in its basket of recognitions and rewards.
Training Initiatives: Team Narasaraopet strongly believes in supporting
Plan Achievement Award Q1-2008
2.
ING Excellence Award 2008-09 for Enrich people 25 ADP club members
3.
Achieved targets in all parameters in AMJ-Q1 2009, only branch in AP to meet the qtr. target.
4. 5.
ra
S
ant M s s e c uc
through sics s s e c c a u S n the B o g in s focu
Silver B. Ram Balaji Singh Y. Brahma Reddy R. Indira A. Mohan G. Srikanth Reddy Saiba Shaik M. Nagalakshmi R. Srinivas Rao Chandramouli
1.
Area Manager - P.V. Siva Kumar Regional Vice President – U. Krishna Ved
I. Raja V.V. Kotaiah
National No.1 in JAS-Q2 2009. Achievement of 158% of target. Highest qualifiers for ADP International - 6
G. Venkateswara Rao
Bronze A.S.S. Prasad Raju Ram Koti Reddy Saikam Prakash Babu Pudota D.V.S.R. Mohan A. Chandra Sekhar Jonnalagadda Prasad
With an SM, K. Sailaja Rani developing 3 FCs at one go, highest PFCs qualifiers in the very first batch with high productivity and qualifications for ADP international trip to Thailand, 25 ADP club members in 4 Rookies and 10 Rising Stars, the team is certainly setting a benchmark for the organisation.
17
ht lig ot
Sp
w vervie trict headquarters O f e i r is B of r is the d enter
Achievements: For the first time in the history of Nawanshahr, 141 policies were issued in the month of June, 2008. The team also has an amazing track record of achieving 239% FYP for the month of September 2009 and 125% target achievement in the Quarter-2 of 2009! With 3 Thailand qualifiers from this branch, Jagdish Pant, Prem Pal & Gurpreet Singh, the team is raring for success with high performers in their stride. Another high performer, Chetan Mehta, GSM-Nawanshahr became Lion Performer for September 2009 by delivering a performance of FYP-13.17 Lacs & NOP - 29. In addition, the team also has 11 Rising Stars (One done by FC), 4 Bronze & 2 Rookie members. Team Initiatives: • Focus on Grand Slam 2009-2010. • Focus on Local contest – Play to Win – Driven by senior management.
c shah is the a Nawan h ic h to be b, w n ja w n o u n P of lt. K rich NRI be ntre of e h c ic e r h t the wn in as an ative to shahr h v r n e a s w n a o c N ial rtland, industr a d e o h o a g Doab RI y with ense N conom d e n e ia h r t a agr e of becaus s t e k c po ent. settlem
• 2 Grand Slam qualifiers in 2008 (Chetan Mehta & Rajwinder Singh) Rewards & Recognitions: • Mr. Prem Pal, Advisor, Nawanshahr rewarded as Pride of Ludhiana by the Area Manager. • All SMs of Nawanshahr rewarded as ‘POWER OF TWO’ by RVP during local contest run in the team.
• Focus on MDRT by December 2009
•
•
•
3 Thailand qualifiers from branch (Jagdish Pant, Prem Pal & Gurpreet Singh) Chetan Mehta –GSM-Nawanshahr became LION Performer for month September 2009 (FYP-13.17 Lacs & NOP -29) 125% Target achievement in Quarter-2 of 2009
High Performers: • 2 Grand Slam qualifiers in 2008 (Chetan Mehta & Rajwinder Singh) • 3 Thailand qualifiers from branch (Jagdish Pant, Prem Pal & Gurpreet Singh) • Chetan Mehta – GSM-Nawanshahr became Lion Performer for September 2009 (FYP13.17 Lacs & NOP - 29) • Highest recruitment done by Parminder Pal Singh in single batch of December 2008.
ARM - Hemender Kumar BM - Jagdish Pant CSE - Monika Mehta GSM - Chetan Mehta
• Focus on IPL & Maximum qualifiers from branch in HATRICK! • Focus on Club members to achieve the next level of Club by December 2009
Team
SM - Chandra shekhar SM - Sitar Mohammad SM - Harminder Pal Singh SM - Ranbir Singh SM - Tejwinder Singh SM - Meena Rawat SM - Navdeep Singh FC
It is a professionally managed branch with a dynamic and vibrant culture. Ultimately they work on simple motto of “Soar 4 More.”
- Rajni Bala
Succe Soar fo
ss Ma
ntra
r More
...!
18
ht lig ot
Sp Achievements: A major achievement was the moment when an Advisor of this temporary location,
Best Practices:
Rajendra Ajmeria, who is also a Rookie
Regular
qualifier and an aspiring MDRT, qualified
Workshops and Motivational Workshops
for the covetous Thailand Contest. The
for the Sales Team as well as the Advisor
Branch Manager also qualified for the
Force are arranged to sharpen their skills
contest by conquering the top slot in his
and update the team’s industry knowledge.
respective group. The Sambalpur Lion, as
Regular family get-togethers are arranged
the team likes to call itself, put in their
in the Branch with the Branch Head leading
best efforts and achieved 134% of the
the way and encouraging the teams to
JAS quarter plan.
perform to their fullest.
Recent Initiatives:
High Performers:
Agency Development has been the prime
Advisors:
focus for Team Sambalpur and more focus has been given on Rising Star and Club Members qualifiers. Quality recruitment drives are held at regular intervals with
Training
Programs,
Sales
Rajendra Ajmeria who achieved his mark and won the Thailand Trip, is an aspiring MDRT.
the help of the Marketing team to support
Shalini Agarwal - Silver Club Qualifier.
the Sales Team for Agency Development.
Ipsita Hota - Silver Club Qualifier.
Succe
ss Ma
ntr
a Qualit y recru itment intens and ive tra ining!
Sales Managers: Ranjan Kumar Sahoo - promoted to SSM in his 12 MOB. Mohammed Iftekar - promoted to SSM in his 18 MOB. Naresh Kumar Agarwal scored 12 lac of FYP in last quarter JAS.
19
A Ch lte an r na ne te ls The West AC team consists of a strong sales force of 295 Sales Officers, 56 Territory Managers & 7 Cluster Managers. This force to reckon with covers the IVB channel, the Cooperative banks and also the recently activated Broker channel. Amongst others, the team also has other significant achievements such as the recently concluded Lakshya Contest where the team had 47 qualifiers for Thailand, which is the highest nomination from any one region in AC. The Valued Times activity conducted across 81 branches in the month of September was a successful initiative, topping the results. In addition to the successful workway implementation, the team incorporates various best practices that keeps them refreshed and energized at all times. The mission for AC West says it all. “WEST is BEST”. This strong message has a deeper insight than just being a tag line, as the team explains. It talks about the best practices followed, giving the best to the internal as well as external customers, developing the best culture within the team and surely demonstrating best input and output numbers!The team strongly believes in the success of their Channel Partners & Sales Officers which translates into a very strong manufacturer and distributor relation.
Succe
ss M
antra Focus on as exte internal as w rnal cu stome ell rs!
1. Their high performers: Alpesh Mehta, Viren Tarpara & Viveck Patil feature among the Top 10 Cluster Managers in the country.
2. Rewards & recognitions given out recently: The Partner’s Day event saw huge success with upwards of 60 qualifiers from Channel Partners making it to Mount Abu. West also has the highest nomination of 47 qualifiers for the 2nd Partner’s Day event at Agra.
3. Successful implementation of workway at all levels, launch of PMS (Balanced Score Card method) and the Valued Times is now a continuous activity which has certainly gained a lot of traction and visibility for the team.
20
Compliance Striving to enhance the culture of Trust, Accountability, Transparency and Integrity In the last edition of Pride, we had communicated the advantages of creating a compliance culture within our organisation. Increased compliance culture shall ensure embedding Compliance Risk Management in everything we do, fostering a culture that will win the trust of customers and support sustainable, profitable growth. In this article, we share the Compliance Risk Management framework model which ING Life uses to manage its compliance risks. The three lines of defence to manage Compliance Risk: ING Life India has adopted the Compliance Charter and framework of ING Group which is essentially a risk management programme consisting of principles, processes and tools to manage compliance risks. ING Life India follows the three lines of defence model to mitigate compliance risks which is applicable to all businesses across ING.
What are the three lines of defence?
1. Business Functions / Departments:
The business functions / departments is the first line of defence and are responsible for managing the compliance risks pertaining to their specific areas of activity and responsibilities. The risk mitigating activities may include new processes, existing process enhancements, tracking mechanisms, monitoring by staff and reporting to Departmental Head. The departments may seek the advice of compliance function to check for the sufficiency of the mitigating activities.
2. Compliance Function / Department:
Compliance department is the second line of defence. Compliance department shall serve in an Advisory role to the 1st line (business) as the business (1st line) designs, implements and embeds the processes and procedures and tracks the risk mitigation activities, apart from identifying the key compliance risk areas pertaining to the specific departments. Compliance department shall also undertake compliance risk monitoring for specific departments, verify the controls and the tracking activities done by the business (1st line) and recommend further action if required.
3. Corporate Audit Services (CAS):
Corporate Audit Services (CAS) is the third line of defence. They provide an independent assessment of the overall effectiveness of the design and the operation of the internal controls which is the mitigation, tracking and monitoring of activities performed by the first line and second line of defence.
From the compliance desk � ING has launched the refreshed business principles in the month of September 09. The revised set of ING Business Principles are: � We act with integrity � We are open and clear � We respect each other � We are socially and environmentally responsible � The Financial Economic Crime Policy (FEC policy) has been revised. Please visit the e-workplace (Documents – Legal & Compliance – Policies – FEC policy) for the revised policy. � Compliance department has finalised the FEC Departmental Procedural manual which mentions the detailed roles and responsibilities of every department in complying with the provisions of the FEC policy. Employees are requested to go through the manual and ensure strict compliance. � The Whistleblower policy has been revised and is accessible to all staff on e-workplace for information and reference of employees. The policy details the scope, the reporting procedures, the details of the Reporting Officer and the investigation procedures. Please refer Documents – Legal & Compliance – Policies, for more details. Employees are encouraged to go through the policy and get familiarised with the contents. � The revised ING Life Gifts, Entertainment & Anti-bribery policy is available on the intranet for information and reference of employees. For details please visit Documents – Legal & Compliance – Policies, on the e-workplace.
21
ING Vysya Foundation
Mr. Jan Hommen, Chairman and CEO, ING Group along with Mr. Vaughn Richtor, Regional CEO, Retail Banking, Asia and Mr. Ron van Ojien, Regional Chief Executive Officer, ING Asia/ Pacific launched the annual fund raising campaign ‘I believe I can fly’ on 9th of September 2009. Registered on the 8th of October 2004, ING Vysya Foundation aims to promote education of the underprivileged children of India. During the past years, it has rendered support to many not-for-profit organisations for actualising the right to education for underprivileged children. We have sponsored school infrastructure building programmes in Hyderabad and Bangalore, Balwadi and community library program in Bangalore, residential education program in Mumbai and Lucknow. The Foundation also participates in the Global initiative ‘ING Chances for Children’ by providing financial support, raised from the employees in supporting the global
For the past three years (2006
cause – ‘education for underprivileged children’. To realise the vision of providing education to children living in difficult circumstances, the Foundation runs a fundraising campaign every year in India. This is a unique campaign that covers all ING businesses in India. This is an opportunity to build awareness, facilitate involvement and engage employees to become responsible corporate citizens by contributing financially towards this cause.
– 2009), ING Life India has contributed to helping children take the first step in breaking the cycle of poverty. One lakh children from various disadvantageous situations, such as children living in slums, streets, railway platforms, child labourers, have been put into orphanages and learning centres run by our partner organisations, including UNICEF. Our efforts through ‘Back to School, 2006’, ‘I Love my School, 2007’ and ‘Class of 2008, has planted a dream and instilled confidence in these young minds. You have contributed (through ING Vysya Foundation’s fundraising activity) to plant a dream for their future. It is now time to put wings to those dreams... Contribute to ‘I believe I can fly’.
For more information, log on to www.ingvysyafoundation.com or write to joyatri@ingvysyabank.com
22
Talent Acquisition The Talent Acquisition team at ING Life India is committed to providing continuous support in building leadership capability within the organisation and attracting top talent. In the last couple of months we have fourteen new members who have joined the management team across functions. We take this opportunity to welcome them aboard. Mr. Hem Pant – Senior Manager, Information Risk Management Hem has done his Bachelors in Science from St. Joseph’s College, Bangalore and Masters in Information and Communication Technology from the University of Wollongong, Australia. He is a CISA (Certified Information Security Auditor), CISM (Certified Information Security Manager), BCCP (Business Continuity Certified Planner), CISSP (Certified Information Security Systems Professional), ISO 27001 Lead Auditor, CCNA (Cisco Certified Network Associate) and also has a certification in PRINCE2 (Projects in Controlled Environment). He comes with a rich experience in the Information Security, Networking, Project Management and Audit functions within the IT and BFSI industries. Prior to joining ING Life, Hem was associated with Fidelity Investments, Bangalore. Mr. Ajay Kapoor – Region Vice President, North Ajay holds a Bachelor’s Degree in Arts from University of Calcutta and a Diploma in Sales & Marketing Management from Bhartiya Vidya Bhawan, Ludhiana. Ajay comes with significant experience in the sales function and prior to joining ING Life, he was working with ICICI Prudential Life Insurance, Hyderabad. His last assignment was as Vice President – Sales & Distribution, Rural Business Channel. Mr. U.Krishna Ved, Region Vice President, Andhra Pradesh Krishna holds a Bachelor’s Degree in Commerce from Osmania University, Hyderabad and an MBA from Symbiosis Institute of Management Studies, Pune. Krishna comes with a broad experience in the sales functions within the financial services industry. Prior to joining ING Life, Krishna was working with ICICI Prudential Life Insurance for over 7 years in various roles. His last assignment was as Vice President – Bancassurance & Alliances Business (Peninsular). Mr. Narendra N.Gandhi - Area Manager, Warangal (Tied Sales) Narendra holds a Post Graduate Diploma in Business Management specializing in Marketing from R.A. Poddar Institute of Management. He comes with a broad experience in the sales function within industries such as insurance, pharmaceuticals & life sciences. Prior to joining ING Life, Narendra was working with ICICI Prudential Life Insurance in the capacity of Associate Regional Manager. Mr. Yashraj M.Rana - Area Manager, Baroda (Tied Sales) Yashraj holds a Masters Degree in Business Administration from B K School of Management, Ahmedabad. Yashraj has worked earlier with ING Life and prior to rejoining, Yashraj was working with ICICI Prudential Life Insurance in the capacity of Regional Manager.
Mr. Sriram Krishnan – Vice President – Information Technology Sriram holds a B.Sc. Degree in Physics and has a Post Graduate Diploma in Computer Applications from NITIE, Mumbai. Sriram will be responsible for the Information Technology function including the IT Infrastructure, Systems Delivery & Core Applications functions. He comes with rich experience in consulting, program management & business development functions, across Insurance and IT industries. Prior to joining ING Life, India he was the Group Head – Global Insurance Practice with Wipro Technologies, Bangalore.
Mr. P.Kalyan Ram - Area Manager, Anantpur (Tied Sales) Kalyan holds a Degree in Commerce from Nagarjuna University. Kalyan comes with a broad experience in sales function within the financial services and pharma industries. Prior to joining ING Life, Kalyan was working with Max New York Life Insurance, as Managing Partner in the Sales Function.
Mr. Anurag Tyagi - Area Manager, Delhi (Tied Sales) Anurag holds a Masters Degree in Marketing from Jiwaji University, Gwalior. Anurag comes with a broad experience in sales function within the financial services Industry. Prior to joining ING Life, Anurag was working with ICICI Prudential Life Insurance as Associate Regional Manager in the Sales Function.
Mr. Dhruv Chandiram - Senior Manager, Renewals Operations & Partnerships Dhruv has done his B.Com from Shri Ram College of Commerce, Delhi and holds a Post Graduate Diploma in Finance & Marketing from International Management Institute, Delhi. Dhruv comes with a broad experience in the Operations & Customer Services functions within the industries such as Insurance, Credit Cards & IT. Prior to joining ING Life, Dhruv was working with IBM, Bangalore. Mr. Pawan Munshi - Deputy General Manager, Bangalore (Tied Sales) Pawan holds a Bachelors Degree in Mechanical Engineering from NIT, Kurukshetra and a certification in Executive Program in Business Management (EPBM) from IIM, Kolkata. Pawan comes with a broad experience in sales function within the financial services & oil industries. Prior to joining ING Life, Pawan was working with ICICI Prudential Life Insurance as Zonal Manager for Karnataka, Kerala & Goa.
Mr. Gaurav Porwal - Senior Manager – Renewals & Persistency Analytics Gaurav has done his B.Tech. from Kanpur University and an MBA in Marketing & Finance from Faculty of Management Studies (FMS), Delhi. Gaurav comes with a broad experience in the Consulting, Business Intelligence & Credit Risk functions within the industries such as Banking, Information Technogy & Consulting. Prior to joining ING Life, Gaurav was working with Standard Chartered Bank, Bangalore. Mr. Manoj Goenka - Deputy General Manager - Alternate Channels (Regional Manager - East) Manoj is a Chartered Accountant and has done his Diploma in International Business from Ahmedabad Management Association. Manoj comes with a broad experience in sales function within the Banking industry. Prior to joining ING Life, Manoj was working with ICICI Bank, Mumbai.
Mr. R Venkatraman - Area Manager, Chennai (Tied Sales) Venkat holds a Master’s Degree in Business Administration from Chennai University. Venkat comes with a broad experience in sales function within the industries such as Banking and FMCG. Prior to joining ING Life, Venkat was working with Kotak Mahindra Bank in the capacity of Officer in-charge, Special Projects.
Mr. Vinod Sharma - Area Manager, Hyderabad (Tied Sales) Vinod holds a Masters Degree in Marketing from Siva Sivani Institute of Management. He comes with a broad experience in the sales function within industries such as FMCG & Retail. Prior to joining ING Life, Vinod was working with ICICI Prudential Life Insurance as Regional Manager in the Sales Function.
We wish all of them the very best in their assignments and welcome them to the ING Life India family.
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Learning Experience In this section, we turn the spotlight on the “learning experience” of our colleagues who underwent a training programme in the last few months and provide a snapshot of their feedback. Name
: Vijaya Kumar Aruganti
Name
: S. Ram Krishnan
Designation : Manager – New Initiatives & Planning
Designation : Manager – Procurement
Course
: Comprehensive Technical programme on Life Insurance - Residential
Course
: Comprehensive Technical programme on Life Insurance - residential
Trainers
: National Insurance Academy, Pune
Trainers
: National Insurance Academy, Pune
Duration
: 5 Days
Duration
: 5 Days
Place
: NIA, Pune
Place
: NIA, Pune
“Really a good opportunity to know about the life insurance industry and improving ourselves. It was an innovative five day programme that drew on the concept of life insurance industry for learning and tested the skills of all participants. I am sure the programme has brought about positive changes in all the participants. I have definitely benefited immensely!”
“It was a wonderful programme organised by NIA (National Insurance Academy) on Insurance Business, interacting with eminent scholars in the field of Insurance. One of the key takeaways for me was to understand the importance of insurance business in detail. I am really thankful to ING Life for nominating me to this programme.’
Name
Name
: K Harush Shenoy
Designation : Senior Cluster Manager Course
: Comprehensive Technical programme on Life Insurance - Residential
Trainers Duration Place
: Raghavendra Kanchi
Designation : Manager Customer Services
Course
: Comprehensive Technical programme on Life Insurance - Residential
: National Insurance Academy, Pune
Trainers
: National Insurance Academy, Pune
: 5 Days
Duration
: 5 Days
: NIA, Pune
Place
: NIA, Pune
“This was one of the most cherished training programmes initiated by ING life & I am very proud to be one of the 31 participants from across India. The design of the program was very gracefully done & it helped us to enhance the knowledge of the life insurance domain & Industry. All the subjects covered were excellent & highly enriching which included right from basics of insurance to underwriting & capital markets. The faculty members were just outstanding! I would like to extend high sense of gratitude to all my senior colleagues who have initiated this training programme.”
“This course is a perfect exposure to the field of insurance with cases being drawn from real time experiences. Besides providing an overview of the current developments, the course gave us a great opportunity to meet a wide range of people with vast experience who were associated with Insurance and Financial Sectors and were enthusiastic to share their learnings.”
Name
Name
: K Harush Shenoy
: Vikram Varma
Designation : Senior Cluster Manager
Designation : Associate Actuarial Analyst
Course
: Comprehensive Technical programme on Life Insurance - Residential
Course
: Workshop on High Impact Performance
Trainer
: Navgati
Trainers
: National Insurance Academy, Pune
Duration
: 2 Days
Duration
: 5 Days
Place
: Royal Orchid, Bangalore
Place
: NIA, Pune
“The NIA programme was very useful and I am sure that I will be able to apply most of the things taught in the training session. We had a good session with all the faculty members and the knowledge bank that is available with NIA is remarkable. I would like to highlight that the sessions on Relationship Management / Marketing and Capital Markets and Risk Management were very useful in particular as the same is very much relevant to my job. I sincerely thank you for suggesting my name and I look forward to having more such training sessions in the near future.”
“It was a two day training programme, testing and advising on the real time communication skills. It helped me in identifying the areas of improvement in terms of communicating and influencing people. Moreover there was a lot of fun. I am able to relate the concept of the training with the day-to-day activities of my profession. Attending this programme was an enriching experience. Training comprised of theory classes & hands-on presentation sessions. During the program several interesting discussions added to the learning experience”
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Winning Performance Culture
Survey 2009 results are now available The global response rate has been 74%, with more than 78,000 employees participating in the survey. We are happy to share that the response rate for ING Life India is at an impressive 94% - which is a huge increase when compared to last year. This result has provided us with meaningful and reliable feedback from employees, as it helps us identify our strengths and the most important opportunities for improvement. This also enables us to make the kind of changes that produce a ‘winning’ environment and make ING Life India an even better place to work. This year, the WPC Survey Employee Engagement Scores have seen a decline across all business lines at ING. The challenges & changes faced this year seem to have had some influence in the employees’ engagement levels. The ING Group Overall engagement score was 65%, and for ING Life India, the engagement score was 69% – which is the highest score amongst other business units in Insurance Asia/Pacific. However, it is 6 percentage points lower than that of 2008.
2009 WPC Survey: 3 dimensions & 13 drivers ING WPC Model Three Dimensions Are we all moving in the same direction?
goals
performance
Overall, these results will give us a view on what matters most to employees and how well we are delivering on it across all verticals.
What will happen after the survey? Reporting and communication of the results will commence at the beginning of December 2009 to all managers and employees across the company. The People Managers and HR Business Partners will be cascading these results in early December. Our MD & CEO - Mr. Kshitij Jain, is closely following the survey and has been in touch with HR and SMT members to encourage them to carefully review the survey results and identify the top priorities for follow-up in 2010. The key action plans will be drafted after focus discussions with all departments with an objective to drive higher engagement levels across the organisation.
Are we capable of performing our tasks and are we being rewarded for them?
Are we executing our tasks and do we take responsibility for our actions?
people
Shared Direction
Performance Execution
Strategy
Customer Delivery
People Management
Business Effectiveness
Recognition
Accountability
Career Opportunities
Compliance
Workplace
Values Communication Leadership
Human Capital
Teamwork
Employee Engagement Index (EEI) 1.
Satisfaction: Overall, I am extremely satisfied with ING as a place to work
2.
Retention: I rarely think about looking for a new job with another company
3.
Advocacy: I would gladly refer a good friend or family member to ING for employment
4.
Pride: I am proud to work for ING
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Training Calendar This quarter saw the successful launch of the Core Capability Excellence - Training Calendar for the half year [October 2009 - March 2010]. This intervention is a tool to execute the “Core Capability Excellence” dimension of ING Life India’s Learning & Development framework. These programmes were selected on the basis of the training needs identified consequent to Performance Appraisal exercise as well as focused discussions with senior management team.
This half yearly calendar will be updated & released by the Talent Management team to all senior people managers in January & October of every year seeking nominations from their respective teams. Other pillars of the training framework include Functional Excellence and Leadership Excellence; interventions like e-learning initiatives, function-specific programmes and Leadership development will follow suit in coming months.
High Impact Performance - Presentation & Communication Skill Workshop
better to achieve the desired results. The programme methodology provides opportunity to learn simple yet powerful ways of managing time.
This programme is for professionals who need to sharpen their presentation & communication skills and master the nuances of giving presentations that influence action. Using the rich medium of theatre to help participants learn and develop presentation skills. Communicating effectively is a skill that helps create an impact even in difficult conversations. Emotional intelligence is the ability to recognise, control, and effectively communicate our own emotions, and to recognise the emotions of others.
Winfluence - Influencing & Persuasion Skills Workshop In this programme, participants learn counter-intuitive ways of negotiating with people with whom we need to sustain long term relationships - team members, peers, superiors and customers. Conventional negotiation centres on tactics and games, and the display of power, with both parties looking to maximize their individual outcomes. While this may work in oneoff transactions, it rarely does in relationship negotiations. The focus of the program is on value-based, principled negotiation that seeks mutually satisfying outcomes.
A Stitch in Time - A programme on Time Management With an ever changing workplace and a fast paced life, time seems to be less available while there are many things to do. The time management programme helps participants with skills in planning and organising themselves
I am ok, you are ok - Basics of Transactional Analysis and Application Workshop What would it be like to be aware of a world of thoughts and feelings inside you? Must you not know how you are hurt sometimes, what makes you angry or what your fears are? And how these affect your self esteem and your relationships? And even more, how to deal with them? Have you thought about how you respond to the beauty of life around you or how you feel when you see human beings suffer? Would you like to identify what gives you the most joy and peace?
Excel in XL - Advance MS Excel Workshop To support professionals working extensively on MS-office platform to upgrade their Microsoft Excel skills.
Comprehensive Technical Programme on Life Insurance residential At the end of the programme, managers would have updated their knowledge on topics like Concepts of Life Insurance, Current Competitive Environment, Information technology Outputs & their application to Life Business, Insight into risk management Principles, Life fund Investment & regulations, Valuation Methods, etc
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In the news
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