For Debasish Dutta, a Kolkata-based LIC agent, selling policies has been very difficult in these trying times. Earlier, he used to meet six to seven clients every day. But due to the impact of the second wave of the deadly Covid-19, it has come down to just three.
“Making new sales calls has become very difficult. Earlier, we used to make some calculations on pen and paper in front of the customer to make them understand the benefits. But that is not possible in the present circumstances,” he said.
According to the latest figures published by the Insurance Regulatory and Development Authority of India on its website, an estimated 22.78 lakh people serve as agents across the country in a life insurance market that recorded a premium income of Rs 5.73 lakh crore at the end of March 2019-20.
Due to the Covid-19 outbreak, maintaining social distance has become a necessity. This is the reason agents are quickly adapting to digital modes to connect with their customers.
“Now we have to speak to clients mainly on zoom or WhatsApp video call. While most clients were more comfortable in discussing these matters face to face, a lot of customers find it difficult to make payments and doing other work online,” said Dutta.
Nitin, 42, a life insurance agent of a private company, said: “I have been calling people and trying to explain to them about insurance policies. It is however much easier when you meet people and explain to them. But as times have changed we are quickly adapting to digital ways quickly so that we can keep serving our customers.”
On the other hand, paying premiums is a relatively easier transaction now with the quick adaption of digital modes of payment.
“There can be more complicated transaction like surrendering a policy or withdrawing a part of the money before a policy matures. These transactions are a bit more complicated. Earlier, we used to meet the client, who filled up forms and we used to deposit papers. Now the client has to do everything online,” said Dutta.