The Hindu Business Line : Good response to LIC’s agent grooming model

Coimbatore, June 8 Life Insurance Corporation of India has been receiving good response from high-performing senior agents under its ‘Chief Life Insurance Advisors’ (CLIA) programme.

Under this model, LIC will offer some of its high-performing agents the opportunity to be ‘Chief Life Insurance Advisors’. These agents will be given a five-year contract and remuneration (on a variable basis) for identifying at least five suitable candidates for recruitment as agents.

The new candidates will be trained and placed under the supervision of the CLIA. According to Mr Nilesh Sathe, Executive Director of the Special Business Unit for Chief Life Insurance Advisors, about 30,000 have responded by identifying suitable candidates. Of the 11.93 lakh LIC agents, around 70,000 would be eligible to take over as CLIA, Mr Sathe said.

First CLIAs

Mr Abhiram Sundaram, Agent, LIC Hosur Branch and Mr Mahaveer, an agent attached to the Indore branch, emerged as the Corporation’s first CLIA by recommending 25 candidates each, on the day of the roll-out of this scheme.

“We have started imparting training to around 5,000 candidates. These candidates would have to pass a test to qualify and get a license to act as ‘supervised agent’ of LIC,” Mr Sathe explained.

Each of the CLIAs would be required to maintain a minimum of 5 and maximum of 25 supervised agents at the end of the first year. Registration for CLIA would close on July 31.

Is LIC outsourcing the job? “No, we are only empowering our people,” Mr Sathe said.

Support structure

The CLIA should be able to mentor and guide the ‘supervised agent’ under him, and enable them reach a certain level of business within a span of seven years. “We want the CLIAs to have an office of their own. The best performing among them would be provided necessary support to set up a virtual office. But this may take about a year,” Mr Sathe said.

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