Shriram Life Insurance, the joint venture between Shriram Group and South African insurer Sanlam, today announced its entry into key markets like Jaipur, Udaipur, Jodhpur, Bhilwara and other tier III cities of the state as part of its expansion plans.
The company plans to extend its presence to all major cities of Rajasthan over the next 3-4 years. In addition, the company plans to recruit 800 Field Sales Officers (FSO's) and 80 business managers in the state to support its expansion plans.
This strategic step is in liaison with the company's decision to recruit 5,000 FSOs and 500 business managers across the North, Eastand West regions during the next 3 years.
The company will open 150 offices across 100 locations in the next 3 years.
Speaking at a press conference, Gerhard Joubert, CEO, (NEW Channel), Shriram Life, said as part of the expansion plans, the company is planning to set up branches in select tier I, II and III cities.
"Through well-trained 5,000 strong field sales officers (FSO's), we will offer innovative products with customised service to make a definitive differentiator in the market. We will really put a high premium on service, and training will receive particular attention. We are aiming at 15% of the premium from tier I cities, 55% from tier II cities and 30% from tier III cities across the country," he said.
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