LIC undertakes agency transformation initiative “Jeevan Samarth” for higher empowerment of Agents

Chennai,05th July 2024: To continue its proud legacy of agency-led growth, LIC has embarked on an ambitious mission “Jeevan Samarth” that aims on future-proofing its entire ~14 Lakh agent workforce to meet the rapidly evolving needs of customers. To achieve this, LIC has partnered with globally renowned strategy consulting firm M/s. A. T. Kearney which will undertake this agency transformation project by reviewing the existing agency framework of LIC 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 fast-changing industry and regulatory landscape of the insurance sector in India.

Speaking on this occasion, CEO & MD of LIC, Shri S. 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 providing them suitable long-term savings, protection, health insurance, ULIP and pension solutions.”

Highlighting the importance of enabling and empowering the agents, CEO & MD of LIC said, “This transformation exercise should result into giving our already very committed agents more tools and additional skills thereby making our bond between agents and LIC much more stronger.” CEO & MD also called upon the young men and women of India to join hands with LIC by choosing life insurance marketing as a rewarding career and participate in shaping the future of insurance industry in India.

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