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Evaluation of Planning in Union Assurance Plc

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Individual Assignment

Evaluation of the Planning function of Union Assurance PLC

MBA 12/3103 P. Rajan

Group B

Course : MBA 501: Managing Organisations

Instructor : Dr. A. Dharmasiri

Term : January - March 2012

Postgraduate Institute of Management

University of Sri Jayewardenepura

Declaration

I am fully aware of the content under plagiarism stated in Chapter VII of the PIM Student’s Handbook, and I hereby declare and affirm that I have strictly observed the law relating to intellectual property, copyright and plagiarism in this exercise.

Pratap Rajan

Name Signature Date

INTRODUCTION

The purpose of this report is to document and critically evaluate the planning function of an organisation and to recommend improvements in the process. The organisation selected for the purpose of this assignment is Union Assurance PLC.

Union Assurance PLC is a composite insurance company transacting both General and Life Insurance business and is currently the fourth largest insurer in Sri Lanka in terms Gross Written Premium. Union Assurance PLC (UA) is a subsidiary of John Keells Holdings PLC (JKH), one of the largest conglomerates in Sri Lanka.

THE PLANNING FRAMEWORK OF UA

The Vision and Mission statements of UA are as follows:

Vision: To be the most sought after provider of insurance solutions

Mission: To provide protection, financial security and create wealth for our customers, adding value to employees, field staff, business partners, shareholders and the community.

The values of UA are as follows:

1. Teamwork

2. Customer Care

3. Dedication

4. Innovation

5. Business Ethics

6. Focus

(Annual Report, 2010)

2.1 The Role of the Parent company in the planning process…...

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