FORTE : Foundation of Research, Training and Education in Insurance
( A colaboration between FICCI and ING insurance)

Background

The on-going liberalisation of the Insurance sector in India has brought along with it the need for quality insurance related research, education and training. Both the policy makers and the players recognise that, there is, at present a large demand for specific research in various fields and a lack of training resources for potential staff. With increasing competition, there will be an increase in demand for insurance oriented marketing and sales personnel, IT specialists, underwriters and actuaries There is an imperative need to evolve professional standards for various constituents of the industry, both in the field and in the office, which put them at par with the best in the world. Also, consumer awareness/ education programs are required to spread and improve the understanding of Life Insurance.

Objective

The Foundation aims to help growth of a vibrant insurance industry in the country and facilitate the development of world class professionalism through research, training and education. The focus is on specific research, training and consumer awareness programs. Foundation will also focus on creation of excellence among people engaged in sale and service of insurance products and services and make the customer aware of the intricacies of this business and enable them to take maximum advantage of the insurance services.

It will do this by:

• Promoting, facilitating and undertaking specific research projects in the field of insurance.
  Publishing research reports and other material to enrich the insurance literature.
• Promoting, facilitating and encouraging training programmes which seek to add distinctive value to insurance personnel.
• Promoting and supporting development of quality educational material to support the training activities.
• Organising consumer education campaigns either directly or in collaboration with consumer activists.
• Instituting National level Awards for recognising outstanding achievements in this field with a view to promoting and encouraging growth and evolution of professionalism in the industry.
• Providing consultancy services to corporates and other interested bodies.
  
• Developing suitable mechanism for active co-operation with IIMs, the existing industry level academic institutions like NIA and others in order to bring about meaningful Industry-Academia collaboration for helping healthy and sustained growth of the Insurance Industry in India to the satisfaction of all stake holders.

Modus Operandi

In addition to in-house activities, FORTE also plans to identify 2-3 important areas in the field of research / training and / or consumer awareness where it could outsource the work. FORTE will invite individuals / institutions to submit proposals for financial support based on certain guidelines for sponsorship.

For any further details, you may contact :

Ms Jyoti Vij, Addl. Director/Ms Natasha Wig, Asst. Director
FICCI
Federation House, 1, Tansen Marg
New Delhi-110 001
Tel: 23357391 (D) / 23738760-70 extn 306 / 324/413
Fax: 23320714 / 23721504
E-mail: finance@ficci.com/ ficcinat@vsnl.com