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Mr Gerhard Joubert

Our Bureau

Mumbai, Nov. 9 Shriram Life Insurance, a joint venture between the Shriram Group and South-Africa based Sanlam group, is exploring new distribution channels for expanding in the North, East and Western parts of the country.

The company is recruiting in-house life insurance advisors and opening new branches to increase its reach in these regions.

In the South, the life insurer leverages the distribution network of the group companies of its parent, the Shriram group, for selling its products.

The Hyderabad-based company is recruiting field sales officers as its employees, rather than using a part-time agency force.

“We pay the field sales officers a fixed salary along with the variable component depending on their performance. This ensures that we do not have to face the problem of attrition,” said Mr Gerhard Joubert, CEO – New Channel, Shriram Life.

Shriram has 450 field sales officers in its payrolls at present.

The company has set up 31 branches in the non-southern regions and is scouting for new locations to set up more branches.

“The plan is to set up our network at places where there is not much presence of other companies. In the next one year, the company is looking to set up 40-42 branches,” Mr Joubert added.

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