With an aim to increase insurance agent’s productivity, the Insurance Regulatory and Development Authority of India (IrdaI) is in talks with National Skill Development Corporation (NSDC) and BFSI sector skills council to undertake skill development programme for agents.
This move would not only help to curtail high attrition rate of insurance agents but also agents to obtain newer skills in related fields.
Number of insurance agents came down to 20.14 lakhs as on July 31, 2015 from 20.67 lakhs as on March 31, 2015.
NSDC develops skill of various people like carpenters, electricians, etc. The NSDC has been working with leading organizations and associations from several sectors on setting up sector skill councils to address gaps in skill development.
The BFSI Sector Skills Council of India was set up to bring organizations of BFSI (banking, financial services and insurance) industry together to create strategies and operational plans that would create standardized skill requirements for the various job roles in the industry. The BFSI Sector Skill Council has been set up by BSE Institute, a wholly owned subsidiary of Bombay Stock Exchange (BSE) with support from Confederation of Indian Industry.
Insurance companies would have board-approved policy on which segments they want agents to be trained. And NSDC would provide training facility.
vinay mohanty
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