United India Insurance Company Ltd (UIICL) has said it plans to deploy 50,000 agents across the country in the next couple of years to strengthen its marketing team.
"Within the next couple of years, the state-owned insurance company will deploy 50,000 agents across the country in addition to the same number of agents on roll," CMD of the Chennai headquartered company G Srinivasan said.
He said the company would train chosen candidates who have cleared the IRDA stipulated examination.
Srinivasan said UIICL would concentrate on Tier III and four cities. "We will focus on Category 4 locations as defined by Indian Census Operations. In the subsequent phase, we will look at Category five and six locations."
The company would also hire 350 officers in general and specialist categories this year. The current headcount is around 17,000 across 1,500 offices countrywide.
Srinivasan said UIICL would also launch a new product across the nation by this month end, covering hospitalisation and medical expenses for workers who come under the Workmen's Compensation Act.
This policy would benefit industrial workmen who meet with unfortunate accidents in their jobs.
The company, he said, is targeting Rs 10,000 crore business this year against Rs 8,179 crore in the year ended March 31 2012.
He added that 30 per cent of total business is from the corporate segment and the balance from retail and individual policies.