The Hindu Business Line : Kotak Life to replicate Old Mutual model

KOTAK Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance) is replicating the Old Mutual's successful model of business operations in Kerala by appointing full-time life advisers as against the conventional way of employing part-time agents.

"In Kerala we want professional and successful business people to join us and make a full time career of life insurance. If you really want to do this job professionally, you need to do it full time," said Mr Andre Claassens, Business Head of Kotak Life Insurance at Kochi.

The Kochi team would have 12 sales managers, each whom will in turn manage12 life advisers, Mr Claassens said.

He said Old Mutual, a company with 159 years of experience in life insurance and $235 billion worth of assets under management, runs its sales only on full time life advisers.

"Customers trust us with their money, we need professional life advisers to advise them how best to invest" he said, adding that in most of the cities across the world, financial advisers are full-time people.

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