In 1997, young Atul Jain’s family of three brothers purchased a second-hand Maruti car. Atul went to a nearby Oriental Insurance Company office to get the above vehicle insured. The Development officer, a middle-aged man, gently asked Atul about his profession. Atul politely replied that he works as an accountant. The development officer further asked Atul whether he was interested in making some extra money and, if so, if he could become an agent with the Oriental Insurance company.
The lure of extra money legitimately earned propelled Atul to immediately accept the offer as his monthly salary as an accountant was not very handsome in those days. The first commission income came from the premium paid for their second-hand car. This was the beginning of Atul’s career as an insurance agent. The chance encounter changed Atul’s life forever. The serendipity of stepping into an unknown territory like insurance changed Atul’s philosophy of life. Earning good and honest money was tempting, but helping others in financial straits was more satisfying. Atul soon started getting steady business. In 1999, Atul became an agent of LIC. It was a humble beginning, but the rise to glory and fame was meteoric.
By 2011, Atul became a member of the illustrious and envious club of MDRT (Million Dollar Round Table) – an association established in 1927 to help insurance advisors establish best business practices. To qualify as an MDRT member, one must earn around 8 lac first-year commission – in other words, commission income from new business. He continues as an MDRT member to date but simultaneously scaled new heights in procuring business. In 2017, Atul reached another milestone in his career when he became a Coat of the Table (COT) member – a higher hierarchy in the MDRT club membership. Since 2021, he has been a Top Of Table – the highest membership qualification in the MDRT hierarchy. The minimum commission income required from a new business has to be more than 26 lacs or an annual income (minimum) of more than 52 lacs to get this coveted club membership. Atul also distinguishes himself as a non-life insurance consultant, particularly in the health insurance domain.
Today, Atul maintains an office of 20 trained personnel in a posh Delhi locality and moves around building his clientele base in his chauffeur-driven swanky Mercedes car.
Remembering his early struggle, Atul mentions, ‘In my initial days, I faced many challenges. Building trust was possibly the biggest challenge. The insurance industry always suffered from a trust deficit, and winning the trust of common people was extremely daunting in that scenario. The other challenges were understanding the products – particularly the policy wordings, low awareness, finding clients, managing rejections, and learning to navigate regulations. But Atul remained unfazed by the challenges and kept himself updated and motivated. He worked relentlessly for 16-18 hours daily to achieve his targets. He worked with the zeals as if he were the company’s owner.
Atul worked as a CFO at an MNC. Still, in April 2005, he decided to quit the job for some reason and went on to work as a corporate retailer in August 2006, when a close relative of his suffered a serious accident despite having an insurance policy. Regrettably, neither the advisor nor the TPA concern offered any help. Atul decided to help his relative, who was under financial stress. Following his intervention, the insurance companies approved the complete claim settlement within a reasonable time. Buoyed by this initial success, Atul could place around 50 new mediclaim (health) policies from this network. Atul realised early that network leads to networth.
The defining moment in Atul’s life came in 2011, when he established his business premises (Office) with a capacity of more than 8-10 people. Even when he had just two employees, he had a clear vision of expanding his team, which he did through a work delegation strategy and with the same vision. He could successfully establish his second business premises in 2015.
Atul focused on a strong company culture based on innovation and customer values, building a team, technology and automation, expanding through referrals, strategic partnerships and networking, continuous improvement, constant adaptation & innovation, and expanding product offerings -all ingredients he considers his primary keys to scaling up the business.
Atul believes in investing in himself – a key to his success. ‘ Since 2010, I started taking training from private insurance trainers, and from June 2010 to till date, I have been spending a considerable amount of my earnings in various training & networking programs to update myself for the fulfilment of my client’s goals & upliftment of our insurance community. Besides this, I keep updated with industry events, conferences & seminars, joining various insurance associations, regulatory updates, client feedback & market trends. I got an excellent opportunity to visit many countries to get training.’ Atul adds with pride.
The noble profession of insurance has helped Atul to carve out a distinctive and different identity. ‘I have developed traits like problem-solving, resilience, and trust-building, as my role involves assisting clients to navigate difficult situations and manage risks. I also created a sense of entrepreneurial identity, and being knowledgeable and compassionate came as a bonus as I guided others through essential decisions about financial security and future protection. Apart from this, I am running an NGO called FPRT. I am the secretary of this NGO, and I help more than 2000 insurance advisors.
Atul firmly believes in client centricity and orientation as key factors for the success of the insurance business, and they play a crucial role in building long-term relationships and establishing trust. Customers’ needs and concerns must be central to everything one does. As a trusted advisor, you must attend to every query of your valued clients.
Atul signs up by maintaining that being client-oriented doesn’t mean just being nice to the customer. It is much beyond that – it is all about building trust, growing business, and maintaining long-term relationships. By putting your client’s needs at the heart of your business and ensuring they feel heard, understood, and cared for, you can create a loyal client base that will support and advocate for your insurance services.
