The new initiatives will help it connect better with both existing and new clients.
Reliance Life Insurance has planned two new distribution initiatives – Life Plaza and face-to-face distribution. While face-to-face channel has already been launched, Life Plaza will be rolled in March 2013.
The 'Face-to-Face' distribution channel will take care of its ‘orphan’ customers and provide them post-sales service by allocating new advisors. The initiative aims to service customers whose advisors have become inactive. This channel will operate with Life Planning Officers (LPOs) who will primarily be women employees. Housewives are one of the key target segments for recruitment. They would be trained to service ‘orphan’ policies, develop a relationship, cross-sell to existing customers and to build their network through references.
The insurer has recruited 200 woman employees till now in seven cities during the pilot phase and plans to increase the number across the country in the next few months.
'Life Plaza' aims to create awareness about life insurance and identification of appropriate products through financial planning. It plans to hire about 1,000 employees for its new distribution channel by March 2013.
Both the initiatives will help the insurer to spread its wings in Tier-II, Tier-III and Tier-IV cities. “We hope this sales-cum-service initiative will not only help retain our existing customers but also help us enhance relationship through cross-sell and up-sell to them," said a senior official of the company.