Reliance Life to hire 5k insurance agents, 2k sales staff more

Leading private insurer Reliance Life plans to hire 5,000 insurance advisors and nearly 2,000 front-end sales staff in the next three months as part of its distribution network expansion plans.

The company has already hired close to 15,000 insurance advisors in the recent months and the planned hiring activities would take the total recruitment of agents to 20,000 people in the current fiscal year ending March 31, 2016.

In addition, nearly 2,000 front-end sales staff would be recruited across channels, in the next three months.

"We have added close to 15,000 insurance advisors in the past few months and are targeting to recruit 5,000 more by the end of the current financial year to increase our reach. This will strengthen our distribution network and help in new customer acquisition," Reliance Life Insurance's Chief Agency Officer Manoranjan Sahoo said.

"We are focusing on tier-II and tier-III cities to hire insurance advisors and boost the existing advisor network across the country. Semi-urban and rural regions are on our radar for recruitment of these insurance advisors.

"We are attempting to create a stronger footprint across India with a view to enhancing the width and depth of our reach across the country," he added.

Currently, RLIC has close to 10,000 employees and over one lakh insurance agents across the country.

RLIC said it will help new advisors to become certified insurance advisors in the current financial year thus adding to the pool of certified agents who will serve as growth drivers for the life insurance industry in the coming years.

"Reliance Life Insurance is investing significantly in its training and technology programs to equip its agents with tools and help them sell better and service customers effectively and efficiently," Sahoo said.

Recently, Japanese giant Nippon Life Insurance signed definitive agreements to increase its stake in RLIC from the existing 26 % to 49 %.

As per its latest financial results, RLIC recorded a new business premium of Rs 601 crore, renewal premium of Rs 673 crore, total premium (net of reinsurance) of Rs 1,263 crore and total funds under management of Rs 15,524 crore for the quarter which ended on September 30, 2015.