New entrant life
insurer, Reliance Life Insurance is all set to hire over 5,000 salary
based insurance agents from small cities and rural areas by the end of
the fiscal year 2012-13.
Mr. Malay Ghosh, President & Executive Director, Reliance Life Insurance said, “We are aiming to hire over 5,000 insurance agents from small towns and rural areas and give them jobs as their career option with a sense of security. The recruitment drive is targeted at Tier II and III cities.”
Further he said, "We believe that the fixed salary-cum-variable income will be a game-changer in the domestic insurance sector.”
Recently, the insurer has announced to hire insurance agents to give them job securities and to minimize high attrition rate in the industry. In India, insurance agents work on commission basis and have uncertain income level. The insurer has already pointed out some potential small cities and rural areas across the country to hire agents on its pay-roll.
In its first step of hiring, the company will hire career agents for only 200 branches out of over 1,200 across the country.
According to Mr. Ghosh, the company has already hired over 500 career agents and in next phase will hire over 5,000 more career agents.
During the six months of training period, the insurance agents will be getting a fixed stipend, and the company will also assist them to pass licensing examination, which will help them to take their jobs with great commitment.
In its next phase, the company will take salary-based advisor system to the next level with bigger numbers and rapid growth.
When asked, whether this new distribution format will hit the exiting advisor workforce working on commission basis, Ghosh pointed out that the two distribution channels are positioned differently in terms of composition and execution.
"Rather both will complement each other and improve customer service."
With the passage of time, Reliance Life Insurance plans to take the salary-based advisor system to the next level with bigger numbers and proliferation.
Mr. Malay Ghosh, President & Executive Director, Reliance Life Insurance said, “We are aiming to hire over 5,000 insurance agents from small towns and rural areas and give them jobs as their career option with a sense of security. The recruitment drive is targeted at Tier II and III cities.”
Further he said, "We believe that the fixed salary-cum-variable income will be a game-changer in the domestic insurance sector.”
Recently, the insurer has announced to hire insurance agents to give them job securities and to minimize high attrition rate in the industry. In India, insurance agents work on commission basis and have uncertain income level. The insurer has already pointed out some potential small cities and rural areas across the country to hire agents on its pay-roll.
In its first step of hiring, the company will hire career agents for only 200 branches out of over 1,200 across the country.
According to Mr. Ghosh, the company has already hired over 500 career agents and in next phase will hire over 5,000 more career agents.
During the six months of training period, the insurance agents will be getting a fixed stipend, and the company will also assist them to pass licensing examination, which will help them to take their jobs with great commitment.
In its next phase, the company will take salary-based advisor system to the next level with bigger numbers and rapid growth.
When asked, whether this new distribution format will hit the exiting advisor workforce working on commission basis, Ghosh pointed out that the two distribution channels are positioned differently in terms of composition and execution.
"Rather both will complement each other and improve customer service."
With the passage of time, Reliance Life Insurance plans to take the salary-based advisor system to the next level with bigger numbers and proliferation.
