Reliance Life set to hire 40,000 advisors

Reliance Life Insurance today said it has hired over 10,000 advisors so far this fiscal and plans to appoint 40,000 more in the next six months.

The large-scale hiring drive is part of Reliance Life's plans to strengthen its advisor base and it is focusing on Tier II and Tier III cities to hire the insurance advisors, the private sector insurer said.

"We have added close to 10,000 insurance advisors in the past few months and are targeting to recruit 40,000 more by the end of the current financial year to increase our reach," Reliance Life (R-Life) President and Executive Director Malay Ghosh said in a statement.

"This will strengthen our distribution network and help in new customer acquisition," he added.

R-Life is part of Anil Ambani-led Reliance Group's financial services arm Reliance Capital.

"Semi-urban and rural regions are on our radar for recruitment of these insurance advisors. We are attempting to create a stronger footprint across India with a view to enhancing the width and depth of our reach across the country," Ghosh said.

R-Life said it would help these new 50,000 advisors to become certified insurance advisors in the current financial year, thus adding to the pool of certified agents who will serve as growth driver for the life insurance industry in the coming years.

It had more than 1,50,000 advisors at the end of last fiscal ended March 31, 2012, with a distribution network of 1,230 offices across the country.

The company said it is investing significantly in its training and technology programmes to equip its agents with tools and help them sell better and service customers effectively and efficiently.

The new insurance agents would be trained by more than 200 trainers and about 1,000 master trainers.

"The main focus of hiring and training is to further strengthen the agency model for selling various insurance products and servicing customers efficiently. We aim to reach out to all segments of the society," Ghosh said.

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