Aviva Life Insurance Company India Pvt Ltd and Indian Institute of Management, Ahmedabad (IIM-A) today signed a Memorandum of Understanding (MOU) to develop an "Accelerated Leadership Programme" for Aviva’s middle management levels.
Aviva Life Insurance Company India Pvt Ltd and Indian Institute of Management, Ahmedabad (IIM-A) today signed a Memorandum of Understanding (MOU) to develop an "Accelerated Leadership Programme" for Aviva’s middle management levels. One of the first initiatives of its kind, this programme will further enhance Aviva’s "next generation leadership" capabilities. This partnership between Aviva, a leading global player and one of the fastest growing companies in the Indian Life Insurance sector and IIM-A, one of the widely acclaimed international school of business management, seeks to create leaders who will pioneer new business paradigms and continually re-define benchmarks in the insurance domain.
The tie-up will deploy a structured training initiative for Aviva, which includes a two-tier training module design. The key themes to be included in the programme will be a macro understanding of the Indian economic and regulatory environment, its implications on the business and focus on increasing value for all stakeholders. The key benefit for Aviva employees would be a well-rounded business perspective, enhanced knowledge and skills.
Speaking on the occasion Mr Stuart Purdy, managing director, Aviva Life Insurance India, said: “We are delighted with this partnership. This is one of our key initiatives to provide accelerated development opportunities and exponential growth to our people by leveraging the extensive experience and research capabilities of IIM-A.”
Mr Bakul Dholakia, director, IIM-A, said: “I am very happy that IIM-A and Aviva Life Insurance are collaborating for the development and training inputs for Aviva managers. I hope that the course will result in enduring association and a long run partnership between us either through ‘Centre for Insurance’, which could be a pioneer for the Insurance Industry or many other ways for the organization’s strength.”
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For further information, please contact:
Preeti Bakaya
Aviva Life Insurance Company India Pvt Ltd.
tel: +91-124-2804141
mobile: +91-98-108-94972
e-mail: preeti.bakaya@avivaindia.com
About Aviva
Aviva Life Insurance is a joint venture between Dabur and Aviva. Current paid up capital amounts to 243 Crores. Dabur are the 74% shareholder and Aviva the 26% shareholder. Aviva Plc is the UK’s largest insurance Group and the world’s oldest insurance Group, with a history dating back to 1696. Today, it is the seventh largest insurer worldwide, with 30 million customers and Ł240 billion assets under management. Prior to nationalization, Aviva was the biggest of the foreign insurers operating in the Indian market.
Founded in 1884, Dabur is one of India’s oldest and largest groups of companies with the Group’s consolidated annual sales in excess of Rs 1,350 crores. A professionally managed company it is the country’s leading producer of traditional healthcare products.
Aviva has recorded a significant growth in the current financial year of 2003-2004 and is rapidly developing its business. For the year 2003-2004, Aviva was in the ninth position in market share terms. In April to June 2004, Aviva was ranked seventh.
Aviva has achieved a policyholder number in excess of one lakh within the first two years of operation. Key initiatives that have led to such a performance are sales initiatives, product profile and fund performance.
Aviva’s fund management operation is one of its key differentiators. Operating from Mumbai, Aviva’s team of experienced fund managers are responsible for the investment of Aviva’s range of fund options which include unitised with-profits, Secure Fund, Balanced Fund and Growth Fund.
Aviva has 28 branches in India supporting its distribution network. Through its branches and its bancassurance partner locations, Aviva products are available in 105 towns and cities across India. Aviva is the leading bancassurer in the country and bancassurance partnerships contribute 70% of the total sales.