NIACL Assistant - SPLessons

NIACL Assistant Career Growth

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NIACL Assistant Career Growth

shape Introduction

India is a country with a huge population and therefore, a huge workforce. Large proportions of people still lie in the employable age. If adequate prospects for employment are provided to them along with consistent earnings, this potential workforce can be utilized and sustained for national growth. The insurance sector has been playing a vibrant role in this regard. New India Assurance Co. Ltd. (NIACL) is one such huge public sector company with so many offices worldwide that offers great job opportunities. NIACL offers jobs in multiple categories and posts. One of them is the post of the NIACL assistant. The basic skills required to fulfill the role of an insurance assistant are:

  • The candidate must possess at least a high school diploma.

  • The candidate must have the ability to interpret procedures.

  • The candidate must have effective interpersonal, organizational, and communication skills to resolve daily issues.

  • The candidate should know how to maintain, create and work with huge information database.

  • The candidate should know how to fill the insurance forms, documents, and certificates.

shape Career

NIACL Assistant Career Growth

The nature of work that a NIACL assistant does shall comprise of routine clerical duties including issuing insurance policies, setting insurance claims, accepting cash, and routine office administration. This shall be marketed by insurance agents and development officers. Overall the work includes a variety of tasks. There are immense opportunities to proceed and get promoted. In short, one should grasp the opportunity of a job as NIACL assistant provided one clears the selection process.

Before one thinks of applying for a job at NIACL, it is important to know the job description, salary, career path details. As an assistant at NIACL, one would have to:

  • Undertake data entry at initial stages of work

  • Issue policies

  • Be responsible for assisting the administrative officers

There is no public dealing done by a NIACL assistant. Less decision making is involved in posts that are totally non-authoritative. But there are three major tasks that must be performed by the assistant. These are:

When compared with the entry-level jobs in the insurance sector, Class III NIACL assistant is one of the best job available. The salary is decent and other benefits that can be availed for great growth opportunities. As per the NIACL assistant notification 2018, the allowances may vary depending upon the place of posting or transfer and also on the position held by the NIACL assistant held in the office.

While a basic pay package for NIACL assistant comprises of salary and other perks, these benefits increase with the career progression. To study the NIACL Assistant career growth, it is first important to know the basic benefits of working as a NIACL assistant.

    1. Salary: A NIACL assistant is provided an initial in-hand salary of around INR 23500 monthly if they are posted in metropolitan cities. This is well above the industry average.

    2. Accommodation in major cities: NIACL helps its assistance by providing them budget accommodation. The assistants can avail this benefit only in the metropolitan cities of India. these accommodations are usually located close to the office area such that the candidate can save upon the transportation cost and reach office on time.

    3. Medical policies: NIACL makes sure that its assistants have a health insurance policy through a group medi-claim plan. Coverage is extended to a spouse, children, and the dependent parents. The sum insured under this kind of health insurance policy varies according to the hierarchy of the company. This means that all the employees of one level hierarchy shall have the same sum insured.

    4. Leave encashment: There is a certain amount of money that is received in exchange for leave period not availed by an employee. This amount is known as leave encashment. Accumulated leaves can be encashed by a NIACL assistant any time during the continuation of services, or while leaving a job, or at the time of retirement.

    5. Leave travel subsidy: NIACL assistants are eligible to claim to leave travel allowances, which is covered as a cost to the company. Assistants can claim reimbursements of expenses they incur on travel. It is available for a maximum of 2 journeys in a block of 4 years.

    6. Staff welfare schemes: In order to keep the motivation of assistants high, NIACL provides welfare facilities. These include both the statutory and the non-statutory welfare schemes.

    7. Workload and holidays offered: An NIACL assistant shall work five days a week. Besides, this there are national holidays and a number of leaves are available, which include; casual leaves, sick leaves, earned leaves, blood donation leaves, and many more. The workload is generally less. In total, NIACL assistant can lead a decent and a peaceful life with good job profile and least pressure from a boss or the company.

Being a part of the largest general insurance company in India is already a privilege. The company is growing at a fast pace and so does it’s employees. While the first six months at the job of NIACL assistant would be dedicated as a probation period, there are ample opportunities to get promoted through internal exams and good work at a job. The process of promotions and internal exams is transparent. Therefore, those who work hard shall proceed. The NIACL assistant is usually promoted to the post of an Administrative Officer, Development Officer, and Manager. The job structure, job description, salary, and perks shall also change with each level of promotion.

Here is a flowchart for a career path that NIACL assistant may progress:

There are various stages in NIACL assistant career growth:

Once an individual is appointed as a NIACL assistant, the assistant can be posted to transferred to any place within the country. The assistant would have to continue job as at this initial place of posting for at least the next five years. The first six months is the probation period which may rarely extend to another 6 months. The salary and benefits are received even during the probation period. This period is more or less a training phase for the assistants. Various types of training are provided to these assistants so that they become well equipped to handle the toughest situations at work. In case candidates decide to quit at this stage they are liable to pay the entire salary amount received by them at the time of probation along with an additional amount of INR 25000. This is because there has been a cost incurred by the company towards the training of the employee. The same is also applied if the company decides to terminate its employee during probation.

The mantra to proceed further and achieve new heights is to get certifications and further increments. Each assistant is eligible for promotion only after a period of 2 years of dedicated service. In order to lead the career path, it is advised to clear the fellowship and other certification while being in the job. This will help to remain ahead of the other companions and lead in the interview. Further, this would also mean that one shall be eligible for the post of Administrative Officer. There have been cases when insurance assistants become an administrative officer as soon as they are eligible to become. Similarly, there shall be an increment in the basic pay and also an increment of INR 915 in the proceeding two years. At this post, one shall be able to get loans and advances at much cheaper rates for the purpose of housing, vehicles, and other basic amenities.

The internal exams help assistants grow faster in the hierarchy. The candidates can get promoted as Senior Administration or Development officer after two years of being promoted to the post of Administrative Officer. The promotions in the first few years of a job are likely to be fast. This is because NIACL has seen virtually no recruitment in the past two decades and most of the existing staff members are approaching their retirement age. Since it is difficult to employ people directly at the middle-level hierarchy, there are greater chances of promotion within the hierarchy.

Further, as the Development Officer, if the candidate is hard working and has a good track record, one can then choose to progress towards the post of manager category. Although the progressions take a certain time period, progressions do happen. The post from which the progression is made also decides the difference in time of the progression.