Future Generali to recruit 14,000 more agents

Future Generali India Life Insurance, the insurance joint venture between Kishore Biyani-promoted Future Group and Italian insurance major Generali Group, plans to recruit additional 14,000 agents during the current fiscal.

This will take the total agency force of the company to 50,000 by March 2010, a senior executive of the company said here. “We have about 36,000 agent advisors across the country and we intend to add 14,000 more to take the total to 50,000 by March 2010”, R Vishnu Kumar, senior vice-president (agency sales) said.

Kumar, who was here to launch the company’s new Unit Linked Insurance Plan (ULIP) ‘Future Freedom Plus” in Orissa market, said, the company has decided not to open more branches during the current fiscal. Instead, it will concentrate on raising the productivity of the existing branches.

While the company has 93 branches across the country, it has 11 branches in the east including 2 in Orissa.

Stating that the company’s performance has been excellent in last two quarters from Apr-Sept, he said, it has been able to collect premium of Rs 153 crore during this period, compared to Rs 155 crore in last fiscal. Bhubaneswar and Cuttack branches have been ranked as first and second among the branches in the country.

Sunanda Parekh, senior manager, brand and corporate communications, said, about 10 percent of the business of the company is coming from the malls. Various insurance products of the company are being sold in the malls. During the first six months of the current fiscal, about Rs 8 crore was mobilised from malls, she added. Nirakar Pradhan, chief investment officer (CIO) said, the growth prospect of the Indian economy is better next year as predicted by World Bank. This will spur the business sentiments and likely to add to the growth of the insurance sector.