New India

Assurance
BORN TO LEAD
 Our Mission
MVC  To develop General Insurance Business in the best
interest of the community.
 To provide Financial Security to Individuals, Trade,
Commerce & all other segments of the Society by
offering Insurance products & Services of High Quality
at affordable Cost.

Our Values
 Highest priority to Customers needs
 High standards of Public Conduct
 Transparency in operations

Our Culture
 Courtesy and Caring
 Initiatives and Innovation
 Integrity, Trustworthiness and Reliability
OVERVIEW:
NEW INDIA ASSURANCE CO. LTD, founded by Sir Dorabji Tata in

04
1919 today operates in 28 countries and headquartered at Mumbai, India
We have been market leaders in India in Non-Life business for more than
40 years. Our Indian business crossed Rs.23910 crores in March 2019
They have been rated AAA/Stable by CRISIL since 2014, indicating that
the Company has the highest degree of Financial Strength to honour its
Policyholder's obligations.
They have been leading the market, apart from premium, in reserves &
net worth for many years.
Present Position:
 INSURANCE: It is a contract, represented by a policy, in which an individual or
entity receives financial protection or reimbursement against losses from an
insurance company

• Provide service to the public

• Acts as safeguard against financial

loss

• Sustainable growth of an economy

 Organisational
Structure

Regional Head
Office Office
L.C.B.O

N.I.A
Divisional
Office

Branch
Office
Micro
Office
 Marketing and
Selling of
Policies

Business and
Management
Processing and Intimation of
Broker business Settlement of How does claim,
and agent claim insurance registration
business company
ling of Policies
Reinsurance works
Liability Business
and management

Submission of Survey,
document and Investigation of
survey report loss
 Recruitment Process

STEP 1 STEP 3 STEP 5

NIACL
Release NIACL Onboarding
Prelim Interview
Notification Mains Exam & Training
Exam

STEP 2 STEP 4
 Service Benefits
• Pay Scales
• Regular leaves
• Stagnation
Increments

• Dearness
Allowances • Special Leaves
• House Rent Available
Allowances

• City Allowance, • Other Employee

Hill station Benefits like
allowance, KIT Health insurance
Allowance etc etc

Core Benefits Non- Core Benefits

 Pay Scales & Stagnation Increment

Scales Basic Pay

• An Additional Increment is
Scale VII Rs. 52210- 1400 (2)55010-1500(1) – 58150 – 1700(1)-59850
payable to the officer who has
reached maximum of his scale
Scale VI Rs. 46610-1400(5)-53610 pay.

Scale V Rs. 41660 – 1200(3)- 45260 – 1350(2)- 47960 • For Every 3 Completed years of
service after reaching such
Scale IV Rs. 34460- 1200(7)- 42860 maximum

Scale III Rs. 28160-840(7)29000-910(6)-34460-1200(4)-39260

• Stagnation Increments is to be
released, subject to satisfactory
performance and vigilance
Scale II Rs. 23120-840(7)-29000-910(6)-34460
clearance.
Scale I 17240-840(14)-29000-910(4)-32640
 Allowances

HRA (All Classes of Rate/month Class I Rate/month Class II Rate/month Class III/IV
Employees)
Other Allowances –
Metro Cities 10% of the Basic 10% of the Basic 10% of the Basic
Max Limit – 3200 Max Limit – 3200 Max Limit – 3200
Min Limit - 700 • City Compensatory Allowances

Cities with population 8% of the Basic 8% of the Basic 8% of the Basic

• Transport Allowances
exceeding 12 lacs except Max Limit – 2700 Max Limit – 2700 Max Limit – 2700
the Metro cities Min Limit - 600
• Fixed Personal Allowances

All Other Places 7% of the Basic 7% of the Basic 7% of the Basic • Hill Station Allowances
Max Limit – 2600 Max Limit – 2600 Max Limit – 2600
Min Limit - 500
• KIT Allowances

Dearness Allowances
• Base on All India Average Consumer Price Index for Industrial
workers as published in the Indian Labour Journal
• Revision on quarterly basis for every 4 points rise or fall.
• For every four points in the quarterly average over 2944
points- 0.15% of Basic Pay
 Special Leave Policies

02. Joining Time Leaves 04. Trade Union Leave 06. Sports Participation Leave

01. Quarantaine Leave 03. Authorized Absence from Duty 05. Advanced Sick Leave 07. Examination Leave
TERMINAL
BENEFITS
 GRATUITY

DEATH Resignation
Same as Retirement .Death Calculation same as
certification along with retirement however gratuity
gratuity form required VOL. payble after 5 years of
RETIREMENT RETIREMENT servivce
As per act scheme under
As per act scheme
act
under act
As per scheme: for class I
for 15 years and
As per scheme: for
above
class I for 15 years and
As per scheme for class
above
III and IV for 15
years and above
As per scheme for class
III and IV for 15 years
and above
 PENSION

DEATH RESIGNATION
Same as Retirement.
Death certification
along with gratuity Not eligible for pension.
form required

RETIREMENT VOL.
RETIREMENT
Pension Formula:
Pension Formula:
50% of last 10
month’s average 50% of last 10 month’s
basic + Pre- revised average basic + Pre- revised
FPA FPA
 ENCASHMENT OF EARNED
LEAVES AT THE TIME OF EXIT
VOL.
RETIREMENT
RETIREMENT

Basic+DA +
Prerevised FPA DEATH Basic+DA + Prerevised FPA RESIGNATION

Not eligible for

Basic+DA + Prerevised
Encashment.
FPA+HRA+CCA
GROUP TERM
INSURANCE
SCHEME
 Group term life insurance is a type of term
insurance in which one contract is issued
to cover multiple people. 
• Promotion Policy for Officers was first introduced in
1990

• The 1990 Policy was in place till 2006 Promotion

Exercise

• 2006 Policy replaced the 1990 Policy

• The Policy is applicable for promotion to all cadres

up to and including Scale VI (GM) • Promotions from
Scale V to V and from Scale 1 to VIl are held within 4

PROMOTION
GIPSA member cos And GIC taken together, based
on a common seniority list for Scale V & VI officers for
all the five companies

• Other promotions within the company up to Scale V

are based on all India Seniority lists of officers in
Scale 1, I, II & IV cadres

• Vacancies are determined on the basis of norms

guidelines adopted by the companies from time to
time based on organizational needs
• While promotion to Scale VI & VII is based on the
sole criterion of Merit, the other promotions are held
based on the various criteria for measuring merits and
seniority

• To become eligible for promotion to Scale VI & Vii

minimum 2 years service is required

• Committee of CMDS may decide the actual zone of

consideration for promotion by restricting the No. of
eligible officers to certain multiple of vacancies and/or

PROMOTION
up to a particular batch to which they belong

• To become eligible for promotion to other candies,

minimum 3 years service is required

• Zone of consideration for promotion would be as

follows 5 times the No of Vac. For prom to Scale V 4
times the No of Vac. For prom to Scale IV & 3 times
the No of Vac. For prom to Scale II & 1
JOB ROTATION

After three years of continuous working in a

particular Department, an employee is liable to
undergo job rotation and he/she can be posted in
another department within the same office.

After five years of continuous working in one

office, an employee is liable to undergo job
rotation and in this situation he can be posted in
another office within the same station.

Number of job rotation case shall not exceed 25%

of the strength of employees in that office.

Minimum one transfer from each office on account

of job rotation is to be made
 VIGILANCE

‘Glassnost’ and ‘Perestroika’

Vigilance department is headed by

Chief Vigilance Officer.
INITIATVES
Aims to identify corruption/
malpractices inside the • Formation of vigilance committees at HO
organization and transparent and Preventive Vigilance Committees
processes for the same. (PVC) at Regional Offices to ensure
fairness and justice .

• Preventive Vigilance workshops were

conducted at 185 offices and Surprise
Inspections at 550 offices.

• Vigilance Awareness Week observed from

29th October 2018 to 3rd November 2018.

• Theme – “eradicate Corruption – build a

New India
 Gender and Women
Empowerment

Women officers holding senior positions as

on 31.03.2019
 WOMEN EMPOWERMENT INITIATIVES

Women Officers
nominated in
numbers to the Seminars organized on
Women
Programme for
Entrepeneurship, Stress
Women Managers Management, Mental
conducted by Women’s Committees Heath etc.
Women executives National Insurance are constituted at Head
nominated for Academy, Pune. and regional Offices to
programmes resolve gender – The International
organised by Forum related issues. Women’s Day
of Women in Public was celebrated on
Sector (WIPS) March 8th, 2019 in
all offices across
the country.
Corporate Social
Responsibility
Mission – “Achieve our vision by integrating social,
environmental and health concerns of the Indian
Society into Company’s overall CSR Policy and
programmes.”

The company’s CSR policy strives to achieve a balance

between the expectations of the stakeholder and its
social obligation as a socially responsible corporate.
 CSR INITIATIVES

CANCER
RESEARCH
On the
Cancer Patients’ Aid
Government Association in
front, Adopted certain areas of Maharashtra and Tata
villages in Andhra Pradesh. Medical trust in West
investment Bengal for cancer EDUCATION
Invested in Science and
included detection and treatment. AND SKILL
Technology Park (STEP)
initiatives like to promote green
BUILDING
Swachh Bharat technology like Contributed to skill-
Mission, building, education and
distribution of Solar LED holistic development of
National Sports home lights in FOOD underpriviledged
Development Maharashtra. Co- Sponsored
children.
Fund, and Puducherry Kitchen of
Akshaya Patra
Armed Forces foundation providing 1.6
Flag day Fund. million hot lunches to
government school
children.
 PROBLEMS AND CHALLENGES

Lack of focus on
employee engagement Lack of organised HR
Department
Lack of employee
Procrastinating
centric initiatives
Low employee Piggy-backing
satisfaction Fragile Human
05 04 03 01 Resources
02 Development
Lack of career
development plan Lack of technical Less bench marking
improvisation No strategic
Less opportunity improvement
for upskilling Poor HRIS

L& D provided only

Lack of organised Competition from private
to a certain part of
IT Department insurance companies
workforce
 SUGGESTIONS FOR HR
PRACTICES

STRATEGIC
LEARNING AND
MANPOWER
DEVELOPMENT
PLANNING
Accessing and performance • Accessing the current
management of employees manpower
EMPLOYEE
regularly. • Estimating the future
ANALYTICS manpower
ENGAGEMENT
• Bridging the gap
A predictive analytics model will between the two
Increased regulations provide an
opportunity to implement help to identify the attributes of the
innovative, customer-focused most successful agents, screen new
policies that drive engagement candidates, and predict the
and transform culture. candidates’ likely future success
based on simulations.