New Delhi, Business Desk. While on one hand people have lost their jobs in many sectors due to lockdown, there is also a sector in which there is a huge possibility of employment in the coming days. This is the insurance sector. The corona virus epidemic has made people very aware of insurance. Due to this, people’s attraction towards life insurance and health insurance is increasing rapidly. Vipin Anand, MD, Life Insurance Corporation of India, says that the insurance sector has the potential to employ about 5 million people. Vipin Anand said this in an exclusive conversation with Dainik Jagran’s Senior Editor, Pratyush Ranjan .
Anand told Jagran that at this time the most important thing after bread, cloth and house is life insurance. He said that if you combine the policies of LIC India and private companies, about 45 crore people have insurance and 90 crore people still need life insurance. He said that at this time policies are available for everyone including children and women. In such a situation, these 90 crore people are his future customers.
Watch video of LIC MD interacting with Pratyush Ranjan, Senior Editor of Dainik Jagran
Anand said, ‘To provide insurance to this large population of the country, a large number of marketing channels and marketing people are needed. Today we have over 11 lakh agents and over 9 lakh agents are in private companies. Many banks, corporate agencies and NGOs are working as insurance today. Brokers are selling insurance. Marketing is also happening directly online. But despite all this, there is no big increase in the number of people being insured every year.
He further said, ‘Even today 90 percent of our policies are done through agents. If we look at how big the market is, and how many people need insurance, at least 5 million agents will be needed to insure the people of the whole of India. That is, the insurance sector has the potential to employ 50 lakh more people.
Anand said, ‘We have not been able to make people aware enough for life insurance in many years, as the Corona epidemic has done. This is a big opportunity for the insurance sector. If more and more people make life insurance marketing their business, they will not only get a secure employment, but also get a chance to make a professional career.
