Private sector life insurer, IDBI Fortis, which is a joint venture of IDBI, Federal Bank and Fortis, is likely to recruit 1,250 people during the current fiscal.
Also, it has its plans to increase the number of its standalone branches to 100 from 33. Overall, the company, for which wealthsurance is the flagship product, has got 1,100 branches.
Talking to FE, GV Nageswara Rao, MD & CEO, IDBI Fortis, said that the recruitments are primarily meant for hiring sales personnel, known as agency managers, for the operation of our forthcoming branches. For the company, agency managers are those that are placed above agents and that are responsible for the entire business operation of the company at the ground level.
For new branches, the company is basically focusing Tier-II cities of the country. Currently, the company has got 970 people on its fold, which was likely to cross the mark of 2,000 by the fiscal-end.
In the similar veins, the company has got 6,900 advisors on its fold as of now. The company had collected a total premium of Rs 328 crore during the fiscal 2008-09. The sum assured capital of the company was to the tune of Rs 2,825 crore and it had sold over 87,000 policies during the year gone by.