Infinity Life Insurance Company: Creating an Organization (A)
(8 pages of text)
Infinity Life Insurance Company was a joint venture between two Indian public sector banks and a U.K.-based insurance firm. The company began its operations in November 2009, as the youngest entrant in the life insurance market in India. Within three years of launching operations, it ranked among the top 10 private firms for new business premiums. When the joint venture project started, the senior leadership group identified numerous challenges and various strategies to address those challenges (detailed in this case). The company connected its basic business strategies to a set of human resource strategies, which were then applied through various human resource processes (detailed in case B
). With the Indian government focusing on further liberalization in the insurance sector, the joint venture needed to be ready for the next leap. Which processes should it continue, and which needed to be changed?
This two-case series is targeted at postgraduate and executive students to discuss the evolution of an organizational and people management strategy. The two cases can be taught in a basic course on human resources management or in advanced courses on human resources planning, talent acquisition, and strategic human resources management. The cases can be used at the beginning of the course, during a discussion on the link between business strategy and human resources strategy. Alternatively, the cases can be used toward the end of a course as capstone cases for discussing various human resources processes. After completion of the two cases, students will be able to do the following:
- Depict the linkage between business strategy and human resources strategy, and understand the concepts of human resources business partnership.
- Demonstrate the impact of human resources innovations on business performance.
- Demonstrate the execution of a human resources strategy through the processes of human resources planning, acquisition, training, and performance management.
- Identify the building blocks of organizational culture and the role of a value-driven culture in an organization’s functioning and performance.
Finance and Insurance
India, Large, 2009-2012
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