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Attrition of Agents in Indian Life Insurance Companies


Affiliations
1 Department of Finance, Narsee Monjee Institute of Management Studies, Bengaluru - 560083, India
2 Department of Economics, Nirma University, Ahmedabad - 382470, India
 

The insurance industry in India is primarily human-intensive, and the business is managed by a large number of agents or advisors. This article identifies the factors responsible for attrition of individual agents of life insurance companies in India and explores its implications for these companies. The study draws and builds on findings from the primary survey of individual agents and senior officials of public and private life insurance companies in the country. The article posits fuzzy logic theory to estimate the attrition index. Some of the mitigation measures of agent attrition are proposed, which provide an initial assessment of the extent to which these can be applied in the Indian context.

Keywords

Agents, Attrition Index, Fuzzy Logic Approach, Innovative Conceptual Framework, Life Insurance Companies.
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  • Attrition of Agents in Indian Life Insurance Companies

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Authors

Neha Chhabra Roy
Department of Finance, Narsee Monjee Institute of Management Studies, Bengaluru - 560083, India
Samik Shome
Department of Economics, Nirma University, Ahmedabad - 382470, India

Abstract


The insurance industry in India is primarily human-intensive, and the business is managed by a large number of agents or advisors. This article identifies the factors responsible for attrition of individual agents of life insurance companies in India and explores its implications for these companies. The study draws and builds on findings from the primary survey of individual agents and senior officials of public and private life insurance companies in the country. The article posits fuzzy logic theory to estimate the attrition index. Some of the mitigation measures of agent attrition are proposed, which provide an initial assessment of the extent to which these can be applied in the Indian context.

Keywords


Agents, Attrition Index, Fuzzy Logic Approach, Innovative Conceptual Framework, Life Insurance Companies.

References





DOI: https://doi.org/10.18520/cs%2Fv115%2Fi5%2F851-859