This insurance company will recruit 1.50 lakh people, great opportunity is comingImage Credit source: Representational Image
If you are looking for a good job. A wonderful opportunity is coming for you. Shriram General Insurance (SGI), a company of Sanlam Group of South Africa, is going to recruit 1.50 lakh people. Because Shriram General Insurance is targeting to increase the number of its agents to two lakh in the next few years to increase business and reach more areas. At present it has 57 thousand agents including point of salespersons. The company has also planned to increase the branch network by 20 per cent every year. At present it has 235 branches.
The gross written premium (GWP) of the Jaipur-based insurance company grew by 29 per cent to Rs 2,266 crore in the last financial year, while the insurance industry’s growth stood at 16 per cent. SGI MD & CEO Anil Agarwal said that he is very excited about the business plan. The growth engine is very strong. As per our plans, we will appoint more than 1.50 lakh agents including point of salespersons.
Also said what goes into trusting its agents to increase individual new premiums as compared to brokers and aggregator platforms. Our agents are our strength. We have a relationship model with our customers, wherein we are with them in their life journey at every critical juncture showing the right direction of progress as risk partners. They are an important engine of our growth. Last year, we had given employment to around 14,000 by appointing them as agents.
Company also expanding workforce
The MD & CEO of SGI said that they are not only expanding the agency but also expanding their workforce. There is a plan to recruit 750 employees in the current financial year and 5000 employees in the next 3 years. The company currently has 3,705 employees. SGI’s solvency ratio is 4.9 per cent against the regulatory requirement of 1.5 per cent. Its promoters have so far invested Rs 259 crore in the company as equity. The company has paid over Rs 2,200 crore as dividend in 14 years. Along with this, this year has also been profitable.
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Focus will be on claim settlement
The company is focusing more on increasing its claims settlement. Most of the customers belong to the commercial truck driver community, so speedy settlement of own damage claims is vital to sustain their livelihood. Our investment in technology helps us to accelerate our business process while increasing the number of employees and agents, technology also requires a competent team to operate and also we are still in the physical model. It also has two all women branches at Ludhiana and Jaipur which is a first in the general insurance industry.