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SPD – example 1

Example 1

Word Count – 1081

Statement of Personal Development

I started my Insurance career in March 2003 at HNB Assurance as a Trainee Insurance Underwriter. Subsequently, I joined People’s Insurance PLC in 2009 as the Assistant Manager, to head the Fire & Miscellaneous Departments. In 2012 I resigned from Peoples Insurance and joined Asian Alliance Insurance as the head of the department of Fire Insurance. Subsequently in 2014, I was promoted to the level of Senior Manager.

In 2017, I joined Orient Insurance PJSC in Dubai as the Assistant Vice President - Underwriting in the Specialty department. This was quite a challenging task, but I was confident that with the knowledge I gained in my Fellowship programme would help me to face these new challenges. I was able to increase the efficiency and effectiveness of the company within a short period, in deed it was a very fruitful and rewarding experience with the Fellowship plan getting integrated into my work and vice versa.

Fellowship plan
After completing ACII in 2011, I decided to enroll for the fellowship programme which assisted me to perform better in the job with managing my duties and responsibilities as well as to achieve my career progress. The fellowship programme was helpful for me to achieve both my personal objectives and company objectives. At the time of enrolling for the fellowship programme my intention was to complete Master of Business Administration (MBA) as the major achievement.

Changes to the fellowship plan
I completed my Masters in Business Administration in 2013. I gained four years of post-qualifying experience and fulfilled the perquisites of required experience of industry exposure of the Fellowship programme. My intention was to enroll in the fellowship programme in June 2017 and to be elected as a Fellow member in 2018. Unfortunately, I couldn’t achieve it yet. Statement of Personal Development (SPD) was a challenging task for me. I couldn’t successfully complete it at the first three submission, and this is my forth attempt. I believe this turned out to be an excellent opportunity to improve my knowledge further.

Learnings progression towards Fellowship
Knowledge gained while going through the fellowship programme was enormous and it is helpful for the development of professional life as well as the personal life. I learned how to handle multiple tasks at a time and to achieve the set objectives.

The MBA programme in which I participated was a multidisciplinary study programme with the focus on organizational behavior aspects, strategic management and financial decision-making. I applied the knowledge gained through my Masters in my day to day work which helped me to be more effective & efficient at the workplace.

Ethics are very important in the insurance industry; the business ethics programme (BEP) has facilitated the development of a deeper understanding of business ethics and working towards developing such an environment on a practical basis within the workplace. The programme allowed and helped me to work on a more professional and result oriented decision-making framework. I was able to set certain standards and ethics in my department. For example, how to deal with Reinsurers, Intermediaries and other stakeholders in an ethical manner. I have been able to improve my knowledge on industry ethics by going through the BEP. The insights have provided the opportunity to understand the nature of stakeholder expectations and how best each of these expectations should be balanced.

As one aspect of the fellowship programme, I completed the Continuous Professional Development programme which assisted me to update my knowledge in Management, Leadership, technical aspects at manager level and new developments in insurance industry.

SPD was a challenging task for me. I couldn’t successfully complete it at the first three submission. This was due to my work pressure and limited time. I learned how to correct myself and address on a subject in an objective manner.

Skills and knowledge acquired
I was able to gain and improve new knowledge and skills to their best advantage for both the company and myself. I feel that in achieving my Fellowship plan objectives I have learned to use the new knowledge and skills to their best advantage for both the company and myself.

I learned and improved, Interpersonal skills, Persuasion skills, Consulting skills, Motivating skills, Leadership instruct and guiding skills, Communication skills. As far as the overall benefits are concerned, the completion of the fellowship programme provided me the development of managerial skills, technical knowledge and competencies which were very useful to perform my tasks effectively. Therefore, this programme assisted me immensely for the success of my professional career as well as the personal life.

As a part of CPD activities, I directly got Involved in product development and this helped me to improve my technical knowledge in insurance. As part of the CPD, the insurance trainings that I have conducted to both internal and external have helped me to uplift my presentation and public speaking abilities. As a result of the knowledge I gained through my Masters and the Fellowship programme, I improved my competencies. The company took necessary actions for job enlargement and enrichment and nominated to the product development team. I was able to attend several local and international workshops which helped me to improve my knowledge further and taken them into account of CPD hours.

Intentions for the future
I believe continuous improvement is the way forward to fulfill my career growth and meet my objectives. I expect to complete my PhD in “Business Administration” prior to 2025.

I encourage my team members for personal developments through higher education. I also conduct lectures and workshops for subordinates and peers. I need to continue these initiatives and encourage new comers to develop themselves. In addition, I will take the responsibility of developing my team by training, guiding and coaching. I have encouraged everybody to follow ACII, CIMA, CIM and MBA etc. which will help them to develop and achieve the objectives in their chosen fields. These activities and engagements are indeed helpful to keep me updated in this rapidly changing industry as I believe continuous professional development is the key to maintain professionalism in any discipline.

Most recognized Insurance qualification in Sri Lanka is FCII and it would definitely be an advantage for career developments. I am a positive thinker and my ultimate objective is to be a Chief Executive Officer in an insurance company. In order to achieve these carrier aspirations, it is very important for me to achieve the status of FCII and also to become a well respected and recognized Insurance professional.