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ANNUAL REPORT 2011-12
Contd.... BOX ITEM 7
during the year is linear. The movement of the number of corporate agents and individual agents over the years is as
under:
NUMBER OF INDIVIDUAL AGENTS
(AS ON 31 st MARCH)
(In lakhs)
NUMBER OF CORPORATE AGENTS
(AS ON 31 st MARCH)
2007 2008 2009 2010 2011 2012 2007 2008 2009 2010 2011 2012
Private 8.90 13.27 15.93 15.75 13.02 10.81 Private 1906 2070 2091 2420 1870 642
LIC 11.03 11.94 13.45 14.03 13.37 12.78 LIC 409 345 415 510 295 240
Industry 19.93 25.21 29.38 29.78 26.39 23.59 Industry 2315 2415 2506 2930 2165 882
From the above tables, it is quite evident that the private sector life insurers are focusing more on the use of corporate
agency channel, while the LIC has been maintaining stability in its focus to the individual agency channel. The average
number of individual policies sold by the corporate agents of LIC has increased exponentially inspite of decline in absolute
number of corporate agents.
AVERAGE NUMBER OF INDIVIDUAL POLICIES SOLD
BY INDIVIDUAL AGENTS
AVERAGE NUMBER OF INDIVIDUAL POLICIES SOLD
BY CORPORATE AGENTS
2007-08 2008-09 2009-10 2010-11 2011-12 2007-08 2008-09 2009-10 2010-11 2011-12
Private 7 6 4 4 3 Private 1798 1857 2289 1976 2533
LIC 32 28 28 26 27 LIC 1905 2190 1606 1708 2194
Industry 20 16 15 15 16 Industry 1815 1908 2172 1933 2474
From the above table, it is observed that the average number of individual policies sold by the corporate agents of LIC
has shown signifi cant increase during the last two years. In case of individual agents, the average number of individual
policies sold by private insurers has been consistently lower than that of the LIC and has also witnessed a downward
trend over time. The same has dipped from an average of seven policies in 2007-08 to mere three in 2011-12. The share
of business in number of individual policies of private insurers and LIC is exhibited in the chart.
From the table, it is interesting to see that the share of individual policies sold through corporate agents of the private insurers
is increasing over the years in line with the increase in its average number of individual policies sold through corporate agents.
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