With the coming in of the private
companies, the Indian insurance sector has seen exponential growth. Today the
sector has become indispensable to the economy in not only creating liquid assets
but also generating employment for millions. Presently there are about 30
insurance companies in India apart from the government companies of LIC ,GIC
and postal insurance. Other private and Multi National Companies like Om Kotak
Mahindra, Birla Sun-Life, Tata AIF Life, Reliance, HDFC Standard Life-Insurance
Co., Max New York Life, Royal Sundaram, Cholamandalam, IFFCO Tokyo and Tata AIG
are big players in the sector.
The foremost choice to open a career
in insurance field is to start as an insurance agent whose main task
is to advice people and enterprises about insurance. Depending on their
educational qualification and strengths, the agents have a good chance of
becoming an employee of the company. The industry also provides great
opportunities in marketing, distribution, actuarial, underwriting operations
and investing departments.