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- Title
LIC Agents: Their Regional Preference and Its Impact on Business Prospects.
- Authors
Pandikumar, M. P.; Manickavasagm, V.
- Abstract
The success of life insurance industry not only relies on the successful features of its products, but also on the astounding role of agents who take immense efforts towards solicitation of insurance business from public. Though LIC is a pioneer in the industry with more than 11 lakh agential force, it is required to reckon the impulses of agents irrespective of their nature, in taking the products to various groups of policyholders. Understanding and grooming the agents' needs play a pivotal role not only to withstand the competition from the private players, but also to retain quality sales force in order to earn a constant premium income. Having identified the importance of understanding the agents towards their preferences on regions, the paper attempts to study and further explore various factors of influence for region selection by the agents to outperform the private entrants in the industry.
- Subjects
INDIA; LIFE Insurance Corp. of India; COMMERCIAL agents; LIFE insurance; POLICYHOLDERS; SALES personnel
- Publication
IUP Journal of Risk & Insurance, 2011, Vol 8, Issue 1, p50
- ISSN
0972-933X
- Publication type
Article