Cost cutting! 3.6mn life insurance agents eliminated in last 4 yrs

India Infoline News Service | Mumbai |

Around 2.6 million agents were added in the last four years

Over 3.6 million life insurance agents were terminated in last four years, Life Insurance Council secretary general V Manickam said.

Around 2.6 million agents were added in the last four years, Manickam added.

Speaking on the sidelines of an event organised by Asia Insurance Post on Wednesday, Manickam said that insurers need to enhance their agency force with 15%-20% growth every year in number of agents.

In order to increase number of agents in the life insurance industry, Insurance Regulatory and Development Authority has reduced the pass percentage in agent recruitment examination from 50% to 35%. 
 

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