LIC partners with AT Kearney for agency transformation initiative

Life Insurance Corporation of India (LIC) has partnered with global strategy consulting firm A.T. Kearney to undertake a comprehensive agency transformation project to ensure that the corporation stays ahead of industry trends and regulatory changes.

This initiative will involve an end-to-end review of LIC's existing agency framework, which will be done to revamp operations at the branch, division, and zonal levels to establish global best practices amid the rapidly changing insurance industry and regulatory landscape in India, LIC said in a statement.

The project, called "Jeevan Samarth," is undertaken for “future-proofing” its 1.4 million agent workforce to better meet the evolving needs of customers.


"Through the 'Jeevan Samarth' project, we aim to transform our agency ecosystem to align with the rapidly evolving needs of millions of Indian families, providing them with suitable long-term savings, protection, health insurance, ULIP, and pension solutions,” said LIC CEO & MD S Mohanty.

Mohanty added that the transformation exercise is intended to equip LIC’s already committed agents with more tools and additional skills.

He also encouraged young men and women of India to join LIC as life insurance marketers, highlighting the rewarding nature of the career and the opportunity to shape the future of the insurance industry in India.