askari insurance
DESCRIPTION
Askari Insurance HRM projectTRANSCRIPT
EMBED PBrush
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GROUP MEMBERS
Name Roll No.
1) Mian Tahir Amad Tayab
104
2) Muhammad Rizwan Sharif
101
3) Muhammad Muzaffar Mehmmod
092
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ASKARI GENERAL INSURANCE
COMPANY LIMITED
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INTRODUCTIONAskari General Insurance Co. Ltd (agico), established in October 1995, was sponsored by Army Welfare Trust
(AWT), Askari Commercial Bank ltd (ACBL) and Askari Leasing Ltd (ALL).
It is a public limited company, listed on all three Stock Exchanges of
Pakistan i.e. Karachi, Lahore and Islamabad. The company provide general
insurance products and services to all sectors of the market.
The company has earned itself a reputable place amongst top players of
insurance industry. agico 's financial strength and rapid growth has been
achieved through its policy of retaining and reinvesting a large part of the
profit to strengthen the Paid Up Capital and Reserves. The company's
financial position provides security to the clients and ensures progressive
return to the stakeholders.
Agico transacts all classes of non-life insurance business. It holds a strong
position in Health Insurance and is the leader in it's expansion. The
company has a large base of prestigious Pakistani and multinational clients
being served through a network of 16 Branches spread all over the country.
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Human recourse is the main stay of the company and is imposing for its
highly qualified and entrusted staff. The company is committed to create
insurance awareness and promote insurance culture through its highly
motivated and dedicated team of professionals.
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VisionThe Vision of askari general insurance company is to be amongst the leading insurance companies of the country with the clear perception of upholding the principles of corporate governance and making agico a profitable and growth oriented insurance company while creating insurance awareness and culture
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MissionThe Mission of agico is to become a leading company by providing client friendly services through highly motivated team of dedicated professionals and ensuring progressive return to the stakeholders.
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Corporate Team
Chairman Lt. Gen. (Retd) Zarrar Azim
Directors Brig. (Retd) Mohammad Shiraz BaigBrig. (Retd) Asmatullah Khan NiaziBrig. (Retd) Muhammad Bashir Baz
Mr. Tariq MahmoodMr. Nasier A. Sheikh
Audit Committee Mr. Nasier A. Sheikh ChairmanMr. Tariq MahmoodMemberBrig. (Retd) Muhammad Bashir BazMember
Senior Vice PresidentsMr. Muhammad AfzalMr. Ashraf Hussain Shah (ACII) Sheikh Abdul QayyumMr. Muhammad Iqbal (Askari Health)Mr. Waseemullah(Company Secretary/CFO)Mr.Najam Irshad
Senior Vice Presidents (Marketing)Syed Hassan Nadeem Rana Shahbaz Ahmed
President & Chief Executive Mr. Mohammad Jamaluddin
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Vice Presidents Engr. Ehtesham Malik (Engineering)Maj. (Retd) Muhammad Ajmal Khan
Mr. Ali Munem Shamsi
Vice Presidents (Marketing) Mr. Shah Saud Mirza Mian Arif Tanvir Mr. Sarfraz Ahmed Tarrar Ch. Shams-ul-Haq
Assistant Vice Presidents (Marketing)Mr. Mubashir-ul-Hassan Mr. Tahir-ul-Haq Mr.Ikram ZaiMr.MoeenuddinSh.Muhammad HanifSh.Abdul Wahab
ManagersMr. Sohail YounasMr. Tazeem Hussain Mr. Gulzar Hussain Shah Syed.Imran Abid (I.A)
Legal AdvisorMr. Farrukh Karim Qureshi
Assistant Vice PresidentsMr. Ghulam Ashgar Mr. Sohail Khalid Mr. Waqas Ahmed
Registered Office/Head Office 4th Floor, AWT Plaza, The Mall, Rawalpindi, Pakistan
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Tel: 051 - 9272425 - 7 Fax: 051 - 9272424AuditorsKPMG Taseer Hadi & Co.Chartered Accountants
Legal AdvisorMr. Farrukh Karim Qureshi
BankersAskari Commercial Bank LimitedNational Bank of PakistanUnion Bank Ltd.Standard Chartered Bank
Registered Office/Head Office 4th Floor, AWT Plaza, The Mall, Rawalpindi, PakistanTel: 051 - 9272425 - 7 Fax: 051 - 9272424Web Site: www.agico.com.pke-mail : [email protected]
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Agico In Pakistan
Islamabad11 West,Jinnah Avenue,Blue Area,Islamabad.Tel : (051)2279565,2270471-2,Fax :(051)2279566 Email: [email protected]
RawalpindiNational Business Center,Murree Road, Rawalpindi. Tel : (051)9290489,9290499 Fax : (051)9290479 Email: [email protected]
Jhelum1st Floor,Soldier Plaza,Civil Lines, Jhelum. Tel : (0544)9270339 Fax: (0544)9270374 Email:[email protected]
Sialkot1st Floor, Oberoi Cooperative Building, Paris Road, Sialkot.Tel : (052)4582381 Fax :(052)4582382 Email:[email protected]
Gujranwala1st floor,Al-Azahar Plaza opp.Iqbal high school Ghala Mandi,G.T Road,Gujranwala. Tel: (0431)3856324,3734326 Fax:(0431)3856325 Email:mailto:[email protected]
Lahore3rd Floor,Al Malik Plaza,19 Davis Road,
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Lahore. Tel : (042)6308633-4 Fax : (042)6308635 Email:[email protected]
Faisalabad 2nd Floor,Platinium Centre,Kotwali Road, Faisalabad. Tel : (041)645802-4 Fax :(041)645801 Email :[email protected]
Multan2nd Floor,Jalil center,Abdali Road, Multan. Tel : (061)547842 Fax :(061)547862 Email: [email protected]
Hyderabad1st Floor,Gul Centre,Thandi Sarark,HyderabadTel : (0222)729689 Fax :(0222)783976 Email:[email protected]
Karachi-16th Floor, AWT Plaza,I.I.Chundrigar Road, Karachi. Tel : (021)2639818-9,2219593-94 Fax : (021)2638362 Email:[email protected]
Karachi-2302 3rd Floor, Anum Empire, Z-1 CC Area Block 7/8 K.C.H.S, Shahra-e- Faisal Karachi. Tel : (021) 4325032-5, Fax : (021) 4325031 Email:mailto:[email protected]
Karachi-3
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3rd Floor, AWT Plaza,I.I.Chundrigar Road, Karachi. Tel : (021)2214333Fax : (021)2214332 Email:mailto:[email protected]
Peshawar6th Floor,State Life Building,The Mall, Peshawar Cantt. Tel : (091)5284768 Fax :(091)5284769 Email:[email protected]
Quetta1st floor,Taj Centre,Jinnah Road, Quetta. Tel : (081)2837922 Fax :(081)2837944 Email:[email protected]
AbbotabadRoom No:10 Silk Plaza, Mansehra Road, Abbotabad. Tel & Fax : (0992)342439 Email:
Bahawalpur2nd Floor, Shahab Plaza, Chowk One Unit, Bahawalpur Tel : (0662)284201Fax :(0662)284203 Email:mailto:[email protected]
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C
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Premium Break up for the Year 2005
In the year 2005, agico total Premium was About Rs. 580 Million, In 2006 the
expected Premium is About Rs. 700 Million plus.
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Asset Growth from 1996 To 2003
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Products LineFire:Agico provides wide cover against fire and allied perils, whether it is industrial complex, retail outlets, hospitals, hotels, theatres, cinema houses, residential apartments and bungalows.
Fire & Lightning: Covers accidental fire and explosion
Riot & Strike Damage: Covers loss or damage to property by rioters and strikers.
Malicious Damage: Covers loss or damage to property done with malicious intentions.
Terrorism: Covers loss or damage to property by any individual or group engaged in a terrorist activity.
Earthquake: Covers loss or damage to property by an earthquake.
Storm & Flood: Covers loss or damage to property by Storm, Tornado, Typhoon and/or flood.
Aircraft Damage: Covers loss or damage to property by any object falling from an aircraft
Business Interruption: Covers business interruption due to any of the above perils
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Marine:All Cargoes whether it is to be exported, imported or in inland transit within Pakistan is insured with wider coverage and economy in cost.
We also allow special discounts for containerized cargoes. We also insure:
Ocean Vessels Vessels For Break-up Barges Trawlers Tugs Pleasure Boats
Motor:Agico covers all types of vehicles on comprehensive terms, which includes damage
to vehicle by an accident, fire, theft etc. We also covers loss or damage to third party
property &/or personal injury to third persons arising out of the insured vehicle
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Bond:We issue Bonds to contractors and clients for Bids, Performance, Retention money. Mobilization advance and we also issue specific custom guarantees.
A bond is not a policy of insurance but is in effect a form of financial guarantee. It is a guarantee by one party to another party that a third party (company requiring the bond) will meet its contractual obligations. Increasingly insurance companies are providing bonds, with few advantages over the banks:
Charges on company assets are generally exempted. The company’s borrowing facility will not be reduced
Types of Bonds in agico Deferred payment bond Bid Bond Performance Guarantee Bond Mobilization Advance Bond Retention Money Bond Excise Bond
Engineering:We have full fledged engineering department and issue following covers:-
Contractors All Risks:
To cover civil works. The policy offers wide coverage to property whilst under construction. The policy is issued either in favour of principal or contractor and it can also be jointly in favour of both parties. The policy is also extended to cover liability to third parties.
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Erection All Risk:
The costly plants and machinery are insured on wider terms, whilst they are being erected at site. The policy isalso extended to cover testing and maintenance period. Here again, the policy can be issued jointly in favour of principal and contractor. The policy is also extended to cover liability to third parties.
Contractors Plant & Equipments:
The contractors while working on project normally takes with them on site heavy plant & equipment. We offerwide comprehensive cover to issue the same.
Machinery Breakdown:
Plant & Machinery with heavy cost are susceptible to damage. We provide wider coverage.
Boiler Pressure Vessel:
We have Boiler policy to cover loss or damage to boiler. The policy is also extended to cover surrounding property and liability to third parties.
Computers & Electrical Equipment:
We offer wider coverage for computers and other electrical equipments.
Health:agico provides flexible plans designed to meet the vital, but often underestimated, health needs of corporate clients. We provide high levels of protection against the financial consequences of basic hospitalization and medical needs. In addition, we specialize in customizing voluntary additional riders, providing employers with the ability to offer valuable employee health covers like the:
Dread Disease Benefit Out-patient Benefit Maternity Benefit Major Medical Benefit
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We offer the most comprehensive health cover for employees through:
Managed Care Extensive hospital network in Pakistan No claims to be filed Full-time doctors for patient counseling and welfare International Coverage
Following is the list of Hospitals that are on the panel of Agico.
All Government (Central & Provisional) and those under administration control of Pakistan Armed Forces are accepted for
reimbursement claim.
Sr# Hospital Name Concerned Person1 AGA KHAN HOSPITAL
Stadium Road P.O. Box 3500 Karachi. Tel : 4930051,Fax: 493-4294, 493-2095
MR. FAHIM AHMED (Corporate Credit)
2 ALMUMTAZ MEDICAL COMPLEX 25/423, Darakshan Society, Mailer ,Karachi.Tel : 4510199 , 4510299
MR. MUKHTAR(Administrator)
3 ANKLESARIA NURSING HOME. Junction Of Randal & Garden Road, Karachi-74400 Tel : 7726924, 7720374
Dr. MIR MAQBOOL AZIZ (Chief Administrator & M.S.)
4 AZIZ MEDICAL CENTER and MATERNITY CENTER B151,Block W N/Nazimabad Karachi.Tel: 6616318
DR. TAHIR GHANI (Administrator)
5 BURHANI HOSPITAL Tayyab Jee Road,Gari Khata Karachi.Tel : 214418, 213440, 2633038.
Sh.TAHER S.E.(Administrator)
6 DARUL SEHAT HOSPITAL St.19, Block 15, KDA Scheme 36,Gulistan-e-Johar,Tel: 8110271-7
MR. ABDUL QADIR(Admin Officer)
7 HABIB MEDICAL CENTRE DR. NAIM HABIB
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BS/3, Block 4. Fedral 'B' Area Karachi.Tel : 6349678-82,Fax: 6349683
(Medical Director )
8 HANIF HOSPITAL SF-15/A,Block-B,Norh Nazamabad Karachi.Tel : 6644918-9
Sh.MUHAMAD SALEEM (Director)
9 HASHMANI'S HOSPITAL JM 75 Jacob Lines, Off M.A- Jinnah Road Karachi Tel: 7787114, 7781124, 7780335
DR. SHAHNAZ A. HUSSAINI (Medical Superintendent)
10 HILL PARK GENERAL HOSPITAL SNCC.3/4,SHAHED-E-MILLAT ROAD. KARACHI,Tel: 4538560-3,Fax. 4556683
DR. MOIZ UD DIN(Managing Director)
11 HASSAN GENERAL HOSPITAL A-58, MALIR CITY, KARACHI, Tel: 4513000,4515175, Fax: 4504143
DR. ROBINA SIRAJ (Medical Director)
12 HOLY FAMILY HOSPITAL Afridi (s.j) Shaheed road, P.O.Box-7378,Karachi Tel : 7218991 , 7218994, Fax: 9221-7211706
SR. ELONA STANCHAK (Administrator)
13 IMAM ZAINUL ABEDIN HOSPITAL 42-43/C Rizvia Society,Karachi-18.Tel : 628991-3,
DR.S.SARFRAZ AHMED JAFER(M.S.)
14 JINNAH MEDICAL COLLEGE HOSPITAL 22-23Shaheed-e-Millat Road Karachi, Tel 4931886-9,Fax.4938035
MR. QAISAR RAZZAQ (Executive Director)
15 KARACHI NATIONAL HOSPITAL,239J.M2,AMILCOLONY M.A.Jinnah Road Karachi,Tel: 7219987,Fax: 7218429
PROF. MAQSOOD ANWER NOORNI (Medical Director)
16 KARACHI ADVENTIST HOSPITAL 91 Depot lines, M A Jinnah Road Karachi.Tel:7218021-4, Fax:7227010
MR. DONALD JACOB (Asst. Administrator)
17 KORANGI LANDHI MEDICAL CENTRE Plot=13,13/1,Sector,35-E,Main road Korangi-5, Karachi
DR. SALMAN QURESHI (Director Administration)
18 LADY DEFFERIN HOSPITAL CHAND BIBI ROAD,KARACHI,
MR. DOST MUHAMMAD BHOJANI (Administrator)
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Tel:7732598, Fax: 7764155
19 LIAQAT NATIONAL HOSPITAL National Stadium Road Karachi,Tel: 4939612-4, Fax: 4938386
MR. M.S.BAIG(Secretary)
20 MURSHID HOSPITAL & HEALTH CARE CENTER Hub river road Mujahidabad Karachi Tel.2811301-6,Fax:2811307
Manager Finance
21 NEHAL HOSPITAL 26, KALA BOARD, MALIR TOWNSHIP, KARACHI,Tel:4506615, Fax: 5674713
DR. DURDANA NEHAL(Medical Director)
22 O.T. HOSPITAL 186/3, SHAHRAH-E-FAISAL KARACHI,Tel. 4580060-2,4580061
MR. SHAN UL HAQ PIRZADA (Executive Director)
23 PATEL HOSPITAL ST-18, BLOCK-4 GULSHAN-E-IQBAL, KARACHI, Tel, 4968660-1,476915-8, Fax, 4985899
MR. DABIR UR REHMAN(Director Marketing)
24 REMEDIAL CENTRE HOSPITAL &NURSING HOMED-9, Block-1, North Nazimabad, Karachi.
Dr.MEHRAJ (Administrator)
25 SOUTH CITY HOSPITAL ST-1, BLOCK-3, CLIFTON, KARACHI,Tel: 5862301-3,577358-9, Fax: 5878638
DR. RAHEEM UL HAQ(M.S.)
26 SHAN HOSPITAL Rashid Minhas Road, Gulshan-e-Iqbal, Block 5, KARACHI, Tel: 461041-4,Fax: 5870044
DR. M.A.ARIF
27 SAFEE HOSPITAL ST.1,Block- f,North Nazimabad, Karachi-74700.
MS. FIZZA.A.BHAIJEE(Chief Administrator)
28 TRAUMA & GENERAL HOSPITAL BLOCK-6 PECHS KARACHI, Tel:4310870-2, Fax: 4311641
MR. VINCENT N. PINTO (Administrator)
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Sr# Hospital Name Concerned Person29 FATIMA MEMORIAL HOSPITAL Shadman
Lahore, Tel.7586196,7580681-3,7580718, Fax:7570586
DR.KHALID FAROOQ(Chief Controller Finance)
30 ITTEFAQ HOSPITAL(TRUST) Near H-Block, Model Town Lahore, Tel: 5881981-88, Fax:5860160.
DR.M. MANSOOR KHAN(Finance Manager)
31 MUMTAZ BAKHTAWER MEMORIAL TRUSTS. HOSPITAL. Wahdat Road Opp Allama Iqbal Town Lahore, Tel: 7844960, 7844961, Fax:7722627,7723988.
MR. HONORY (Administrator)
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RASHEED HOSPITAL Main Boulevard, Deface Lahore,Tel: 6673192-96.
MR. ABDUL RASHID KHAN (Chairman)
33 SHALIMAR HOSPITAL Shalimar Link Road, Moughalpura Lahore-54840, Tel : 6817857-60
DR. M.AFZAL SHEIKH(Chief Executive)
34 OMAR HOSPITAL JAIL ROAD , LAHORE. Tel : 757640-1
DR. OMAR H. SHEIKH
35 AADIL HOSPITALMezanine Floor, Main Boulevard Defence, Lahore. Tel : 6661216 , 6661316
MR. A. WAHEED SHEIKH(C.E.O.)
36 FAIMLY HOSPITAL 4 – Mazang Road Lahore. Tel : 7233915-6
MR. RAIZ AHMEH MALIK(Director)
37 FAROOQ HOSPITAL 2-Asif Block, Main Road Allama Iqbal Town, Lahore. Tel :7845521 , 7832539
MR. FAROOQ SAEED KHAN
38 IHSAN MUMTAZ HOSPITAL 71 – E , Johar Town , Phase 1 , Lahore. Tel : 5170688 , 5112107
Medical Director
39 MASOOD HOSPITAL 99, Garden Block, Garden Town Lahore. Tel : 5881961 – 3
Medical Director
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HyderabadSr# Hospital Name Concerned Person 40 THE AGAKHAN MATERNAL & CHILD
CARE CENTRE. Plot 4/2 Jamshoro Road,Hbd.,Tel:614172,Fax-6125246
DR. NOORUDDIN S.KHIMANI ( Marketing Officer)
41 WALI BHAI RAJPUTANA HOSPITAL, Jamshoro Road,Hyderabad
Tel: 613194, 613197
MR. ANWAR AHMAD FAROOQI (Administrative Officer)
42 ISRA UNIVERSITY HOSPITAL. P.O. BOX. 313 Hala Road, Hyderabad. Tel: 620161-71
Medical Superitendent
SUKKUR 43 PAKISTAN RED CRESCENT
District Branch Sukkur,Tel : 23841, 615618
Honory Secretary
QUETTA 44 PAKISTAN GENERAL HOSPITAL
Zarghoon Road (Clytton Road) Quetta Tel : 842295, 842043, 844011
MR. ZAHOOR AHMAD (Administrator)
45 CHILDREN HOSPITAL Patel Bagh, Quarry Road, Quetta. Tel: 823705-11 Fax: 823712
Medical Superitendent
46 AKRAM HOSPITAL Zarghoon Road Quetta,
Tel : 824620, 842620, 829182
DIRECTOR (Akram Hospital Quetta).
PESHAWAR 47 KHATTACK MEDICAL CENTRE &
HOSPITAL Dabgari Garden, Peshawar Tel : 2568416-8 Fax: 2568419.
DR. H. A. Haroon
MULTAN 48 SEYAL MEDICAL CENTRE (PVT) MR. ABDUL RASHID SEYAL
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LTD. Aisha A.B Plaza (off LMQ Road) Multan Tel : 75574, 43121-3
(Medical Director)
ABBOTTABAD 49 REHMAT MEMORIAL HOSPITAL
ABBOTTABAD.Tel: 30649 , 30691
DR.MUHAMMAD BASHIR (Managing Director)
FAISALABAD 50 SAAHIL
HOSPITAL 1-Sheikhupura Road ,Faisalabad. Tel: (041)782040-45 Fax:50118
MR. M.AFZAL KHAN (Chief Executive)
51 YASIN MEMORIAL HOSPITAL 228-A, Gulberg, Faisalabad. Tel : 25327
DR.M.AKMAL YASIN (Medical Director)
SARGODHA 52 MUHAMMAD
HOSPITAL 245-A, Satellite Town, SARGODHA. Tel : 213805-9
MR. RANA SALEEM AKHTAR (Managing Director)
53 NIAZI MEDICAL COMPLEX Club Road, SARGODHA.Tel : 215999 , 216999
DR. A. G. NIAZI (Medical Director)
54 SADIQ HOSPITAL 24-A, Main Bazar, Satellite Town - SARGODHATel: 212123, 212124.
DR. LIAQAT ALI KHAN (Medical Director)
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Liability:After discussions with the clients we design liability cover to meet specific requirement of client for:
Premises Liability
Covers liability to third person arising out of accidents at premises.
Product Liability
Covers liability to third person arising out of the use of product manufactured &/or sold by the insured.
Workmen Compensation
Covers liability of employers to employees under Workmen Compensation Act &/or common law.
Professional Indemnity
Covers liability arising out of professional wrongful act.
Directors & Officers Liability
Covers liability of directors and officers for their wrongful act.
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Miscellaneous:Cash Insurance:
The cash policy designed by us covers cash whilst it is in transit, from bank to office and vice versa and/or other specified locations. The policy also covers cash whilst lying at counter or in safe.
Fidelity Guarantee Insurance:
This policy covers misappropriation or embezzlement committed by a permanent employee of the organization during the course of employment.
Householder’s Comprehensive:
The comprehensive policy designed by us provide cover to building of bungalow or an apartment. The policy also covers entire furniture, fixture, electronic items, carpets etc.
Neon Sign:
The advertisement neon sign are covered comprehensively against fire, damage and other perils.
Plate Glass:
The expensive plate glass are covered on comprehensive basis against accidental damage and many other perils.
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Personal Accident: Group Personal Accident. Personal Accident cover for individual persons Family Package gives a discount when the whole family buys one policy
This policy will provide compensation in the event of Death, Permanent Disability or Temporary Disability due to an Accident. Coverage is worldwide. We can add extra coverage that will pay for medical expenses resulting from an Accident.
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Human Resource Management’s
Practice in Askari General Insurance Company Limited:
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Recruitment & Selection in Agico:Agico says” Finding the best possible people who can fit within our culture and contribute within our organization is a challenge and an opportunity. Keeping the best people, once we find them, is easy if we do the right things right. These specific actions will help us with recruiting and retaining all the talent we need.”
The Agico tries to hire a person who has done this "exact job, in this exact
industry, in this particular business climate, from a company with a very
similar culture."
They believe that "past behavior is the best predictor of future behavior"
and suggest that this is the strategy that will enable them to hire winners.
They say that they must hire the candidates whom they believe can hit the
ground running in their company.
Whenever there is an opportunity, the company tries to fill it through
following procedure:
Look First at In-house Candidates Involvement of Employees in Hiring Process.(Through References)
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AGICO HIRING PROCEDURE:In Agico when there is any Vacancy needed to fill following steps are
taken
1) Submission of Application.
2) Scrutinization of Application.
3) Call of Interview for the selected Candidates.
4) Interview the candidate in the presence of HRM Head, and the head
of concerned department for whom the candidate is being called.
5) Final Interview of the Successful candidate in the presence of Chief
Executive depends upon the Nature of the Job.
6) Issuance of Appointment Letter.
7) Probation Period Started after Issuance of appointment letter.
8) Probation period is of 3 to 6 months in which the persons behavior,
attitude with in and out side the organization, his learning Pace, his
command over his job has been assessed by his seniors.
9) At the end the concerned head of department will decide weather the
selected person is suitable for the organization or the other way.
Wrong.
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Following is the history of Agico’s employees during last 10 years:
Total Number of employees in starting of Agico: 30
Total No of new hiring in Agico over 10 years 253
Total No. Of employees left Agico during 11 years: (65)
Total No. of employees currently working in agico 348
Employee’s turn over Ratio =No. of employees left during ten years
No. Of Years = 65
10
= 6.5
= Almost 7 Employees / year.
On Average we can say almost 6 to 7 employees left agico every year
during last 10 years, which is a very low employee’s turn over. One good
prospect that we observe while studying agico was that the employees who left
agico, most of them were related to IT & Accounts department, Which is due to
having more IT, and other companies coming in the market. But not of
specialized insurance Person, so this reflects the level of comfort that the agico
peoples are enjoying at their JOB.
Termination Procedure:Agico was established in 1995, since then it has never terminated even a
single person, this shows the level of job comfort the Agico employees are
enjoying. However in case if any person goes against company’s defined
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rules and regulations the committee will call him for moral pursuance, and
he has to clear his position in front of that Panel.
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Training & Development in Agico:“Training & Development is the field concerned with workplace learning to
improve performance. Such training can be generally categorized as on-
the-job or off-the-job. On-the-job describes training that is given in a normal
working situation, using the actual tools, equipment, documents or
materials that they will use when fully trained. On-the-job training is usually
most effective for vocational work. Off-the-job training takes place away
from normal work situation which means that the employee is not regarded
as productive worker when training is taking place. An advantage of off-the-
job training is that it allows people to get away from work and totally
concentrate on the training being given.”
Agico strongly belives that it is very important to improve the skills of the
person which can be achieved through proper On Job Training by which
he can achieve organizational goals and also enhance his knowledge and
skills.
Training focuses on improving performance. In the case of new induction ,
the senior, observes the individual’s current functioning, assesses the
Individual's strengths and weaknesses, and develops a plan for addressing
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any needed Improvments. Agico starts his on job training under the
supervision of senior and veteran Staff Members.
Agico Training’s Partners:
Agico Also sends selected employees to abroad for training in areas where
it is necessary for broaden their Vision and Align with the underwriting
practice of Re-insurance.
With in the country, Agico is attached with following training institutes,
where he sends his employees when he feels necessary.
1. Lahore Institute Of Insurance.
2. Peshawer Institute Of Insurance.
3. Pakistan Insurance Institute Karachi.
4. State Bank Of Pakistan (Islamabad &
Rawalpindi Branches.)
5. LUMS (Lahore University Of Management &
Technology)
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Agico has special arrangement of regular coaching classes on every Friday
at head office under the supervision of vigilant, dutiful, and dedicated
instructors with in and out side the agico.
Agico is also well aware of Society welfare and betterment; in this regard
Agico is providing Internship facility for those students who want to join
Insurance industry. In this way the fresh students get use to with the
practical and industrial environment under the supervision of qualified and
dedicated senior staff members. Agico is also offering stipend to students
during their internship.
Agico is also providing Job enlargement and job rotation opportunity to his
employees. This helps the employees to enhance and polish their
professional skills.
Agico’s Strategy to Improve Professional Skills of
Employees.
Agico is a strong believer that an organization can’t groom at a satisfactory
pace without grooming his stakeholders specially its employees In this
regard Agico encourage his staff members to enhance their professional
qualification through whatever opportunities they have, in pursuance of this
Agico has taken following Bold steps:
Reimbursement of ACII (UK) fee.
Reimbursement of MBA (Insurance & Risk Management) fee.
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Reimbursement of fee in case of any improvement in academic
record.
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Employees Safety, Health & Welfare:Safety:
Being the member of service providing industry Agico’s staff is not directly
exposed to any hazardous activity during the business hours or at the
premises of Agico. Regardless of this Agico Maintained a very conducive
and healthy working environment in its offices and remains vigilant about
the safety and security concerns of its employees in view of following guide
lines:
Everyone is entitled to a safe and healthy workplace.
Workplace injuries, disease and accidents are unacceptable
and preventable.
Everyone is responsible for health and safety at Agico.
Everyone has a personal responsibility to come to work fit for duty and work
safely.
Health:
This is a Group Medical also called Group Hospitalization Policy. It is a comprehensive program that covers medical cost of out patients (OPD), hospitalization, and surgical treatment, Maternity, Dread Diseases & Specialized Investigations in OPD.
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Who is Covered?
All Categories of employees are covered upto the age of 60 years.The
policy is designed in a manner to cover all the employees their spouse and
dependant children up to the age of 21 years. In case of female children
age relaxation is till the time they get married or employed.
What is covered in Hospitalization? Pre-hospitalization expenses for one week & post- hospitalization
medication & consultation for two week will be covered; the expenses
will be included in the prescribed hospitalization limit.
Intra-ocular lens implant (IOL).
Daycare surgeries.
50% enhancement of hospitalization limit in case of on road accidents
(ROAD TRAFFIC ACCIDENTS R.T.A. ONLY) and off road accidents.
Free of cost Specialized Investigation per family annual in OPD
Free circumcision of a baby boy.
Free consultancy from official Doctors both at Islamabad and Karachi
only.
Country wide panel of hospitals available for credit facility.
HOSPITALIZATION: shall mean the employee’s stay in hospital for a
minimum period of 24 hours for either treatment or observation due to
disease, sickness or bodily injury.
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HOSPITALIZATION EXPENSES: means reasonable and customary costs
and expenses for in-patient including Medical, surgical, Specialist, Hospital,
Nursing Home Nursing Attendance Charges, Cost of Physiotherapy,
Massage and Manipulative Treatment, Surgical and Medical Requisites
except Cosmetic Surgeries.
All these expenses to be necessarily incurred, arising from Accidental
Bodily Injury or illness manifesting itself.
FAMILY: Family shall mean Employees, Spouses and dependent Children.
TREATMENT AT PANEL / APPROVED HOSPITALS: In case credit facility
at the company panel hospitals is utilized, the employee is required to
submit an attested photocopy of credit letter duly signed by the employee
along-with a copy of National Identity Card in case of adults. Credit
arrangements are available for in-door treatment at these hospitals.
INTIMATION & PRIOR APPROVAL: Where indemnity is on re-
imbursement basis in case of a scheduled hospital confinement (i.e. other
than an emergency) in a hospital, which is not an approved hospital, the
employee must first seek prior approval from the company by submitting a
cost estimate from the physician for the hospital confinement and
procedures to be carried out. The company would then issue an approval
letter, a copy of which should be sent along with the cash memos for
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settlement of claim. Settlement of such claims shall be on reimbursement
basis.
Contribution of Various
Group Health Care = 1.50 Million
Group Life Insurance: = 0.25 Million
Employees Old Age Benefit Fund (EOB = 2.00 Million
Gratuity = 2.40 Million
Provident Fund = 2.00 Million
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Man Power Planning:Procedure of Man Power Planning:
At end of every year every branch head is required to submit his next year
manpower requirement to the Human Resource Management department.
In head office. In his request he will normally mention following details,
1) Job Description
2) Job specification.
3) No. Peoples he wants.
For the year 2007, there is requirement of about 26 peoples in various
branches of agico all over the Pakistan.
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Salary Administration:Agico is Offering his employees highly market competitive salaries. Last
year in 2006, agico increases across the board 30 % salaries of his all
employees.
Agico spend in year 2005, 100 millions on Management expenses, and out
which salary contribution was 55 %. Agico average contribution to wards
Salary is 50 to 60 percent.
Contribution of different allowances in Salary:
House Rent Allowance: 20%
Utilities : 10%
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