Selection of agents: A challenge for the Indian insurance industry

Abstract

The present study was conducted to explore the changes in management of agency in the liberalized economic scenario. The major focus of the study was to identify the competencies necessary for a successful agent and to provide objective methodology for selecting the effective agents. The Semi-Structured Interview technique was used to assess the competencies of the agents. The sample for this research consisted of fifteen successful Life Insurance agents in the age range of 28 to 47, Domain Experts, Representatives from the Insurance industry and the customers of eight successful agents. A thematic analysis of the interview was done. The findings of the study indicate to some extent the professional competencies necessary for successful Insurance agent. The research also highlighted the analysis of industry and domain expert in selection of effective agents, managing agency, and development of effective competencies for an Insurance Agent.