Business
Max New York agents' feat
By Our Corporate Reporter
CHENNAI, DEC. 6. Max New York Life Insurance Company has announced that four of its life insurance agent advisors have qualified to apply for membership of the Million Dollar Round Table (MDRT), a global congregation of the world's top selling insurance agents.
Addressing presspersons here today Mr. Anuroop Tony Singh, CEO and MD of Max New York Insurance Company, said the company had invested substantially in training its agents to equip them to meet customer expectations. He attributed the successful operations of the company to the individual agents who were the primary channel of distribution. Nearly 90 per cent of the policies were sold face to face by them.
The company has currently 1,600 agent advisors. Each agent was trained for 152 hours as opposed to the mandatory 100 hours stipulated by the Insurance Regulatory and Development Authority before beginning to sell in the market place. They were also being trained continuously for 500 hours over a two year period, he said.
The focus on continuous quality training had resulted in the company having amongst the highest agent pass rate in IRDA examinations of 98.7 per cent, Mr. Singh said.
The MDRT has over 23,132 members from 66 nations with about 479 insurance companies being represented. The objective of MDRT is to elevate the professional standards and prestige of life insurance agents.
The four agents who have already met the production eligibility criteria membership of MDRT had achieved first year commissions of Rs. 4.90 lakhs and above. With this Max New York Life had become the first private life insurer in India to nominate its agents and advisors for the prestigious forum, Mr. Singh said.
Mr. Singh said the sum assured by the company surpassed the Rs. 1,000 crore mark in a short span of its operations.
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