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Manish Basu

Kolkata, Aug 3 The Life Insurance Corporation is aiming to boost its agency strength in the country by over 30 per cent this year by delegating power to its senior insurance agents to help recruit new agents.

While the development officers will continue to recruit agents as in the earlier system, the efficiency and domain expertise of senior agents would be utilised in the new scheme to get quality agents, according to LIC sources. The new Chief Life Insurance Advisors Scheme (CLIAS) is also expected to improve productivity, with the agents working under the supervision and mentorship of the chief life insurance advisors, they say. “With the opening up of the insurance industry, we need a much wider agency base,” a senior official at LIC said. LIC is expected to recruit 3.6 lakh new agents in the country this year and the agent base is expected to double in three years. While bancassurance is an indirect channel for spreading reach, the CLIAS would act as an essential internal resource in this regard, he added.

This year, LIC will be adding nearly 45,000 agents to its existing agent base of 1.5 lakh in the Eastern Zone, he said. According to LIC sources, 4,000-5,000 chief life insurance agents would be appointed this year in the zone from ranks of the Divisional Manager Club Member and above. Each CLIA would help recruit 5-10 new agents annually, the sources say.

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LIC to enhance agency base

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