Page 9 - Insurance Times June 2019

LIC of India

LIC declares over 8000 Vikas Rao as new ZM of Mumbai LIC, Western Zone
C. Vikas Rao has taken charge as Zonal Manager of LIC,
ADO Vacancies
Western Zone, Mumbai comprising of 23 Divisions cover-
LIC has announced more than 8,000
ing the states of Maharashtra, Gujarat, Goa and Union
vacancies
Territories of Daman, Diu and Dadra and Nagar Haveli.
for Ap-
p re n ti c e Previously, Rao was in-charge of LIC's East Central Zone viz.
Develop-
SCZ, CZ, WZ AND ECZ and has held prominent positions
ment Of-
such as RM (CRM) in CZ, and RM (MKTG), Karnataka, in SCZ.
ficer Recruitment. The vacancies are
He has a unique distinction of heading all the four Mumbai
open for anyone with a graduate de-
Metro Divisions I, II, III and IV. In 2001-2002, Mumbai DO
gree from a recognized university in
I became the No. I Division in growth and A2B is SA and FPI, in the country.
India. The selection for the post will
be through a preliminary exam fol- He headed Pension and Group Schemes and Mktg. /CLIA verticals of the country
lowed by a main exam. The online as Executive Director at Central Office and created record landmark in both the
application for ADO has already verticals. He was instrumental in popularizing NRI insurance during his regime.
started.
The ADO is primarily a sales super- IDBI Bank sells policies worth Rs 160 after LIC tie-up
vision job. The selected candidates
After partnering with LIC, IDBI Bank sold insurance policies worth Rs 160 crore
will have to sponsor suitable persons
in March 2019. In a statement, the bank said LIC's cor-
to be appointed as Life Insurance
porate agents will be able to sell the products across
Agents, train them properly, and
help the recruited agents to sell life their 1,800 branches.
insurance to maximum number of
LIC is the majority shareholder in IDBI Bank holding a
persons. An Apprentice Develop-
51 percent stake in the banking entity. In January 2019,
ment Officer will have to undergo
LIC completed the deal with IDBI Bank.
Theoretical and Field Sales Training.
The period of apprenticeship shall The bank sold 26,116 policies in the month of March
commence from the date of com- 2019. IDBI Bank said that LIC's diversified product base
mencement of the training. would enable targeting their high net-worth customers
As per the official recruitment no- in metro and urban areas and other customers in semi-urban and rural areas.
tice, "An Apprentice Development
Rakesh Sharma, MD & CEO of IDBI Bank said, "With all these initiatives and syn-
Officer, who successfully completes
ergies in place, the bank will be able to add Rs 1,000 crore to its bottom-line."
the apprenticeship and, in opinion
of the Recruiting Authority, is other- LIC in a statement said in FY20, the bank has sold 1.929 policies with a pre-
wise suitable for appointment to the mium of Rs 30.2 crore.
service of the Corporation may be
“With an increased association with LIC of India in the opening of accounts and
appointed as a Development Officer
resultant balances, IDBI Bank shall move faster towards healthier balance sheet,”
and placed on probation."
said LIC.
The Insurance Times, June 2019 9