The Chennai-based state-run general insurer United India Insurance Company Ltd announced that it will recruit 7,000 agents in the next three months. The insurer has also lined up plans to hire about 400 officers and 600 clerks next year.
Mr. Milind Karat, Chairman and Managing Director, United India Insurance Company Ltd said, Our agent force is 53,000 now. We will have 60,000 agents before the end of current fiscal year.”
Our focus is on retail segment to drive growth in the future. As part of the strategy, we have opened 410 micro offices in rural areas”, said a senior company official.
Furthermore, Mr. Karat said, We are increasing our agent strength and tying up with self-help groups to reach out to more people. The agents as well as its own staff will be used to increase retail business in rural areas.” The growth drivers will be health and motor insurance,” he added.
On the company’s performance in health insurance sector, Mr. Karat said the growth in the segment was 25-30 % with 90 % incurred claim ratio. We have reached break-even in this segment,” he added.
United India collected Rs 8,179 crore business last year, and is targeting to touch the landmark of Rs 10,000 crore in the current fiscal.
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