Mahindra Insurance Brokers - First Insurance Broking Company in the
World toachievethe Global Benchmark
Ø MIBL Philosophy : ““Happy employees tend to make happy customers”
Ø Implementation of capability maturity
model to create high-performance and high-maturity culture
Ø Adoption of international best people
practices
Mahindra
Insurance Brokers Ltd. (MIBL) has been appraised and rated at Maturity Level 3
of the People Capability Maturity Model® (People-CMM®), thus becoming the first insurance broking
company globally to achieve this international benchmark. MIBL joins the league
of top companies practising People-CMM® such as Accenture, Computer Sciences
Corporation, Wipro, CMC, Mahindra & Mahindra Financial Services Ltd., Tata
Consultancy Services, L&T Infotech, etc.
P-CMM®
is an organizational transformation model from the CMMI® Institute, USA. The CMMI® Institute, a subsidiary of Carnegie
Mellon University is dedicated to elevating organizational performance through
best-in-class solutions to real-world challenges. The Institute is the home of the Capability
Maturity Model Integration (CMMI)® for Development, Services, and Acquisition;
the People Capability Maturity Model; and the Data Management Maturity Model
(DMM)SM, which are capability maturity models that create
high-performance, high-maturity cultures.
MIBL’s achievement of Maturity Level 3 demonstrates that it implements
world-class best practices with respect to the management and development of
its workforce.
Ramesh Iyer, Managing
Director, Mahindra & Mahindra Financial Services Ltd. and President –
Financial Services Sector and Member of Group Executive Board of the Mahindra
Group,
said, “We are truly delighted that MIBL has become the first insurance broker
globally to achieve this international
benchmark. It is a reflection of the organization’s steadfast commitment to the
development of its people, its focus on adding value to its customers, and
driving positive change in the lives of people.”
Dr JaideepDevare,
Managing Director, MIBL, commented, “We are extremely honoured to have
achievedPeople-CMM® Maturity Level 3 for Human Capital Development. Our focus
on best practices has been driven by our desire and commitment to deliver a
best-in-class service experience to our valued customers. Our customers deserve
the best and we have endeavoured to develop our people capabilities to match
and exceed customer expectations. This achievement reinforces MIBL’s continued
commitment to develop and enhance skills and capabilities of our team.”
Rajesh Naik, the lead
appraiser from QAI India said, “MIBL has a robust framework for
employee growth, supported by a collaborative culture, a competency framework,
internal job posting, educational assistance, and focus on internal promotions.
MIBL is also the world’s first company in the insurance sector to have achieved
Maturity Level 3 of the People CMM®. Powered by a strong and flexible people
management system, I am sure MIBL has the potential to become one of the best
organizations in the world.”
“MIBL’s
appraisal at Level 3 of the PCMM Model is an endorsement of the significant
emphasis we place on developing our existing competencies and creating a
globally competitive learning and development culture,” said Vinay Deshpande -Chief People Officer, Mahindra
& Mahindra Financial Services Sector.
About Mahindra Insurance Brokers Limited
The company’s long-term Vision is: To be the first Indian company amongst the
Global Top 100 Insurance Brokers in Revenue by 2020.
Mahindra Insurance
Brokers Limited (MIBL) is a subsidiary of Mahindra & Mahindra Financial
Services Limited (MMFSL). MIBL has a Composite Broking license enabling
it to operate as a Direct as well as a Reinsurance broker. MIBL is one of the
few insurance broking companies in India to have adopted Quality Management
systems ISO 9001:2008 certification. MIBL is committed to providing
value to its customers by understanding their insurance needs and risk profile,
and providing innovative, cost effective, customized solutions to ensure total
customer satisfaction. MIBL’s role, in short, encompasses various activities
right from risk profiling to claims administration for customers. MIBL acts as
an intermediary between the customer and the insurance company, representing
the customer. MIBL co-ordinates with the insurers and re-insurers to get the
best rate and the most ideal risk protection cover for their customers.
As
on today, the insurance solutions developed by MIBL have reached out to over
150,000 villages and haveserviced over 6 million cases in the rural and
semi-urban markets.
MIBL’s vision also goes well beyond the horizon as it
sets its eyes on the global market by spreading its wings globally and
developing relationships in over 25 countries in reinsurance broking business.
About Mahindra & Mahindra Financial Services Limited
Mahindra
& Mahindra Financial Services Limited (Mahindra Finance), part of
the Mahindra Group, is one of India’s leading non-banking finance companies.
Focused on the rural and semi-urban sector, the Company has over 3.5 million
customers and has an AUM of over USD 5 billion. The Company is a leading
vehicle and tractor financier and also offers fixed deposits and loans to SMEs.
The Company has over 1,000 offices across the country and is the first finance
Company from India to form a part of Dow Jones Sustainability Index.
The
Company's Insurance Broking subsidiary, Mahindra Insurance Brokers Limited
(MIBL), is a licensed Composite Broker providing Direct and Reinsurance broking
services.
Mahindra Rural
Housing Finance (MRHFL) a subsidiary of MMFSL provides loans for purchase,
renovation, construction of houses to individuals in the rural areas of the
country.
The
Company has a JV in US, Mahindra Finance USA, in partnership with De Lage
Landen, a subsidiary of Rabo Bank, for financing Mahindra tractors in US.
About
Mahindra
The Mahindra Group focuses on enabling people to rise through solutions
that power mobility, drive rural prosperity, enhance urban lifestyles and
increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides
employment opportunities to over 200,000 people in over 100 countries. Mahindra
operates in the key industries that drive economic growth, enjoying a
leadership position in tractors, utility vehicles, information
technology, financial services and vacation ownership. In addition,
Mahindra enjoys a strong presence in the agribusiness, aerospace,
components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for
CSR in India in a study by the Economic Times. In 2014, Mahindra featured on
the Forbes Global 2000, a comprehensive listing of the world’s largest, most
powerful public companies, as measured by revenue, profit, assets and market
value. The Mahindra Group also received the Financial Times ‘Boldness in
Business’ Award in the ‘Emerging Markets’ category in 2013.
Our Social Media Channels:
is a reflection of the organization’s steadfast commitment to the
development of its people, its focus on adding value to its customers, and
driving positive change in the lives of people.”
Dr JaideepDevare,
Managing Director, MIBL, commented, “We are extremely honoured to have
achievedPeople-CMM® Maturity Level 3 for Human Capital Development. Our focus
on best practices has been driven by our desire and commitment to deliver a
best-in-class service experience to our valued customers. Our customers deserve
the best and we have endeavoured to develop our people capabilities to match
and exceed customer expectations. This achievement reinforces MIBL’s continued
commitment to develop and enhance skills and capabilities of our team.”
Rajesh Naik, the lead
appraiser from QAI India said, “MIBL has a robust framework for
employee growth, supported by a collaborative culture, a competency framework,
internal job posting, educational assistance, and focus on internal promotions.
MIBL is also the world’s first company in the insurance sector to have achieved
Maturity Level 3 of the People CMM®. Powered by a strong and flexible people
management system, I am sure MIBL has the potential to become one of the best
organizations in the world.”
“MIBL’s
appraisal at Level 3 of the PCMM Model is an endorsement of the significant
emphasis we place on developing our existing competencies and creating a
globally competitive learning and development culture,” said Vinay Deshpande -Chief People Officer, Mahindra
& Mahindra Financial Services Sector.
Thanks for sharing. Really useful information and it’s a great article with good resources. Checkout our Stock Investor website for more latest stock market update.
ReplyDeleteBharat Bhushan Finance & Commodity Brokers Share Price
Bharat Bijlee stock price
Bharat Dynamics stock price
Bharat Electronics stock price