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Employee EngagementPractices in Private Insurance

SectorPunjab

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HISTORY OF INSR!N"E IN IN#I!

1818 - First life insurance company -Oriental LifeInsurance Company (in Calcutta).

1850 - First general insurance company - ritanInsurance Company (in Calcutta)

!e e"isting 10# insurers $ere amalgamate% an%groupe% into Fi&e companies '-

1. ational Insurance Company(IC)

. e$ In%ia *ssurance Company(I*C)

+. Oriental Insurance Company(OIC)

,. nite% In%ia Insurance Company(IIC)

5. eneral Insurance Corporation(IC).

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/mployee /ngagement!at is /mployee /ngagement23

Lets start with what its not

Employee engagement $oes not meanemployee %appiness or satis&action.4omeone mig!t e !appy at $or67 satise% $it!t!eir 9o an% t!eir pay7 ut t!at %oesn:tnecessarily mean t!ey are $or6ing pro%ucti&elyon e!alf of t!e organi;ation

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Categories of /mployee

/ngagement/ngage%

ot /ngage%

*cti&ely ig!

?erformance

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@eing *n /ngage%/mployee

!en employees careA$!en t!ey are engagedAt!ey use $iscretionary e*ort

%esire an% commitment to gi&e t!eir est to t!eusiness

generate more re&enue

inno&ati&e

act as a%&ocates for t!e usiness re%uction in t!e rate sic6ness or asenteeism

e!a&e in $ays t!at support usiness &alues

positi&e impact on customer ser&ices

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To win in themarketplace you mustfrst win in theworkplace.

B Former Campell:s 4oup C/O7

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La$ler an% orley (00)

?urcell (00+)

4a6s (00)

>olec!e an% 4pringett (00+)

4onal ?an%ey 4!ine

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esearc! ?rolem 4tatement

/mployee /ngagement ?ractices in ?ri&ate

Insurance 4ector in ?un9a

O9ecti&es

o un%erstan% t!e conceptual frame$or6 of

employee engagement practices an%in&ol&ement.

o un%erstan% employee engagementpractices in pri&ate insurance sector in

?un9a.o analy;e t!e nee% of employee engagement

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/4/*C> =/>O

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/"pecte% Outcome Of t!e 4tu%y

/mployee engagement %ri&es performance yta6ing care aout t!e retention ratio of t!eemployees7 loyalty of customers7 protaility an%

safety of employees.How the above stated factors are affecting the level of job

satisfaction and employee engagement in Insurance Sector in

Punjab.

The study is expected to prove that it is important to engagethe employees for the longevity and profitability of the

organisation.

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