Citing that major corporate policies will be renewed next month and reinsurance deals will also be finalised in March, the Officer’s Association of the company have requested the management to defer the implementation now and go live from next fiscal onwards.
Removal of the division office and setting up of more dedicated branches to cater to the corporate sector with an annual premium of Rs 3 crore, introduction of Key Performance Indicators (KPI) are the major changes in the company’s rejig plans.
In a communication to the employees, Sunita Tuli Nagpal and R.R. Singh, both General Managers and Directors and holding Joint Charge, Chairman-cum-Managing Director, on Friday outlined the company’s initial rejig plans.
According to them, the new Enterprise Level structure will be Regional Office-Branch/Micro Office. With the Division Office structure removed, all the operating offices will report to the Regional Office.
The increased regionalisation will ensure 100 per cent coverage in terms of claims, underwriting and accounts, the communication notes.
On a pilot basis, the new structure will be implemented in four regions. Initially all the retail businesses in these four regions will be migrated to the new organisational model to study the effect and carry out any corrections, the two officials told their colleagues.
The top officials also assured the employees that the latter will not be needed to relocate physically immediately.
Speaking to IANS, Vishnu Aggarwal, General Secretary, Oriental Insurance Company Officers’ Association, said: “Most of the corporate policy renewals happen next month. Similarly the reinsurance deals are also concluded in March. We have requested the management to implement the news structure from the new fiscal onwards which is just one-and-half months away.”
According to him, the company has decided to rejig the organisational structure first in New Delhi Regional Office-1, Regional Offices in Hyderabad, Pune and Bhubaneswar.
In a letter to the company, Aggarwal said the employee associations have not been consulted on the rejig as against the earlier agreement that the latter will be Aconsulted before implementing any new initiatives.
–IANS