Get full access to one story every week, and to summaries of all other stories. Just create a free account

The LIC agent, its IPO, and incentives

By Rohin Dharmakumar in BFO #376, 23 Sep, 21

The Life Insurance Corporation of India (LIC), India’s largest insurer, is a gigantic, lumbering beast. In an era of tech-driven insurance, it still does business the old-fashioned way. Through an army of nearly 2.3 million agents who forge and maintain personal connections with millions of LIC customers.

Sure, LIC agents are often guilty of upselling customers expensive policies they don’t really need.