LIC’s key to success: Incentives and perks to keep agents performing

Insurance agents of Life Insurance Corporation (LIC) may not be employees of the giant Government owned insurer, but then LIC is not your standard PSU. A key reason why LIC has managed to hold its own against private competition is its hundreds of thousands of agents who procure the vast bulk of its business. The insurer has, over the years, honed a complex system of incentives and perks to keep its agents performing. Read more