LIC launches agency transformation initiative 'Jeevan Samarth'

LIC on Thursday announced the launch of 'Jeevan Samarth', an initiative aimed at transforming the agency ecosystem. To achieve this, Life Insurance Corporation (LIC) has partnered with a global consulting firm, which will undertake this agency transformation project by reviewing its existing agency framework on an end-to-end basis.

It will also entail revamping the agency operations at the branch, division and zonal level directed towards establishing global best practices in the wake of the fast-changing industry and regulatory landscape of the insurance sector, LIC said in a statement.

LIC Chief Executive Officer and Managing Director Siddhartha Mohanty said, "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 provide them suitable long-term savings, protection, health insurance, ULIP and pension solutions".

Highlighting the importance of enabling and empowering the agents, he said, this transformation exercise should result in giving more tools and additional skills, thereby making the bond between agents and LIC stronger.

He also called upon the young men and women of the country to join hands with LIC by choosing life insurance marketing as a rewarding career and participating in shaping the future of the insurance industry.