LIC launches 'Jeevan Samarth' initiative to transform agency workforce

Srinagar, July 6: Life Insurance Corporation of India (LIC) has unveiled an ambitious project called "Jeevan Samarth" aimed at modernizing its vast network of approximately 14 lakh agents. This initiative seeks to adapt the agency workforce to meet evolving customer needs and industry trends.

LIC has partnered with global strategy consulting firm A.T. Kearney to lead this transformation. The project will involve a comprehensive review of LIC's existing agency framework and operations at branch, division, and zonal levels. The goal is to implement global best practices in response to the changing landscape of India's insurance sector.

Mohanty, CEO & MD of LIC, stated, "Through the 'Jeevan Samarth' project, we aim to transform our agency ecosystem to align with the rapidly evolving needs of millions of Indian families, providing them suitable long-term savings, protection, health insurance, ULIP, and pension solutions."

Mohanty emphasised the importance of empowering agents, saying, "This transformation exercise should result in giving our already very committed agents more tools and additional skills, thereby strengthening the bond between agents and LIC."

The CEO also extended an invitation to young Indians to consider a career in life insurance marketing, encouraging them to join LIC and contribute to shaping the future of India's insurance industry.