LIC Mulls To Leverage The Strength Of High Performing Agent

LIC mulls to leverage the strength of its high performing agents and to tap new talent in the face of growing competition from private insurers. The corporation has drawn up a strategic business unit for recruiting new agents and offering incentives to existing high performing agents. LIC currently has an agency force of 12 lakh and mulls to recruit around 1 lakh more this year. The SBU, which is called Chief Life Insurance Advisors works on a new model. As per this model, LIC will choose some of its high performing insurance agents and offer them the opportunity to be Chief Life Insurance Advisors. Until now, LIC has been appointing only development officers to manage agents. The corporation, which showed a sharp slip in growth last year, is now looking at building up and creating a strong agency force.