HDFC Life and Manipal Global Education join hands for course in insurance

NEW DELHI: HDFC Life, a life insurance company, along with Manipal Global Education, is offering a post-graduate diploma in insurance aimed at arresting the mounting attrition in the sector.

In this partnership, Manipal Global Education has structured a year-long programme customised for HDFC Life. Earlier, it had put together a three-month certificate course for HDFC Life.

Through its latest programme, Manipal will be providing graduates with domain knowledge, communication and team-handling skills relevant to in the insurance sector. On completing the programme, the candidates will be absorbed by HDFC Life.

HDFC Life is the only partner of Manipal Global Education in the insurance sector, according to RV Sivaramakrishnan, executive president (Education Services) Manipal Global Education.

Manipal has earlier partnered with around 20 financial institutions and banks.

"Anyone enrolling for these courses will be serious and committed. This will surely help us to bring down the attrition rate at the same time, ensure the availability of good talent," says R Chandrasekhar, executive vice president, learning and in development, HDFC Life.

HDFC Life intends to hire close to 8,000 people within three years and is banking heavily on this programme for getting the best talent. The company is targeting tier-2 and tier-3 cities.

During the programme, the student is expected to participate in on-the-job training for three months, four months of residential classroom training at Manipal campuses in Bengaluru and Jaipur and a six-month paid internship with HDFC Life.

After the completion of the programme, a fixed salary of Rs 2.5 lakh per annum will be offered. HDFC Life claims to offer an assured bonus of Rs 1.25 lakh on promotion and a stipend of Rs 16,000 per month during the internship.

"A pilot batch of 20 people was the first to have enrolled for this programme. We are looking at 60 students each in Jaipur and Bangalore every month," says Sivaramakrishnan.

Job hops are common in the insurance sector. "People typically move both within the BFSI sector itself as well as outside," says Chandrasekhar.