Build a career in LIC and deliver high quality insurance products and services to the public and make insurance linked savings ever more attractive and safe.
Career in LIC – Making Insurance Attractive
Since deregulation in 2000, life insurance has been one of the fastest growing sectors in India. It helps that India has one of the highest savings rates in the world and a low penetration of financial sector services. Obviously there is more competition for the money now, which means organisations need to constantly come up with better products and better returns on investment. This is precisely where you—the young, motivated professional—come in. Well, get in there and show them what you can do!
Life Insurance Corporation (LIC), with assets estimated at US$ 250 billion and an employee strength of almost 116,000, remains India’s biggest player in the life insurance sector. In fact, the last few years has seen LIC move far ahead of the competition. This is in spite of all the private companies implementing aggressive marketing strategies and offering new investment options along with life cover. Clearly the state-owned giant, started back in 1956, still holds the edge. A career in LIC means security, promising growth potential and lots of challenges. So ready to take on the task of providing affordable financial cover to all?
Time was when an LIC job was pretty much like all other government jobs—listless and mundane. It is no longer so; the arrival of private companies and intense competition has changed all that. LIC now attracts the cream of young talent and offers great prospects even at entry level. Of course it helps that the pay package and benefits are the best in the industry.
The sense of pride you feel working for a top brand is another plus. In terms of brand value and trust, LIC is routinely placed in the top bracket. LIC has been continuously winning the Reader’s Digest Trusted Brand award for many years. The Economic Times Brand Equity Survey 2010 rated LIC as the No. 4 Service Brand of the Country. According to the Brand Trust Report 2011, LIC is the 8th most trusted brand of India.
Sloppy work culture is a thing of the past in LIC. With its healthy business environment, ethics and emphasis on teamwork, LIC is now a great place to be in. Work-life balance is better than any other company in the sector and the sense of security you feel is enormous. With so much competition all around, training has improved tremendously and there is an improved system for performance evaluations.
Want to be part of the team? Career options in LIC, across India, are many. Some of the typical positions include:
- Accounts, finance and auditing experts
- Fund managers
- Legal officers for claim management, claim investigation and other legal aspects
- Marketing and customer service executives
- Actuarial and underwriting professionals
- Administration and HR executives
- Development officers
The selection process is based on your performance in a written exam followed by an interview. Recruitment notifications are issued as per requirement. Visit http://www.licindia.in/ for more information.