Insurance agents, who are required to undergo mandatory trainingof 50 hours by an insurance company may not have any qualms attached to this process. However, insurance companies, who pay for this training process, are of the view that while there is an expenditure on these individuals, high attrition has made the process futile. "It is essential that agents are made to undergo practical training in life and general insurance industry, so that they are equipped to deal with the new trends in the insurance sector. However, while we have incurred additional expenses in training them, the agent, especially the younger ones, quit the industry in 2-3 years," said an insurance executive in-charge of personnel development. To bring out a solution to this, some insurers have circulated an internal note, wherein there is a proposal to approach the regulator to reduce the training hours. A senior life insurance company executive said that this could reduce costs.
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