Review of existing agency framework of LIC and revamp of agency operations at branch, division and zonal levels with an aim to establish global best practices components of the project.
| Photo Credit: Arrangement
The Life Insurance Corporation of India (LIC) has roped in strategy consulting firm A. T. Kearney for agency transformation project.
Besides a review of the existing agency framework of LIC, the project will involve revamping the agency operations at the branch, division and zonal levels with an aim to establish global best practices, the insurer, which has about 14 lakh agents, said on Thursday.
“Through the Jeevan Samarth project, we aim to transform our agency ecosystem to align with the rapidly evolving needs of millions of Indian families and providing them suitable long-term savings, protection, health insurance, ULIP and pension solutions,” LIC CEO and MD S. Mohanty said.
The transformation exercise should result in “giving our already very committed agents” more tools and additional skills thus strengthening the bond between agents and LIC, he said.
