Balasore, March 4 (Odisha.in) In protest against the apathetic attitude towards the field workers of Life Insurance Corporation (LIC) of India, the National Federation of Insurance Field Workers of India (NFIFWI) has decided to stage a demonstration before the Parliament on Wednesday.
According to the state unit of NFIFWI, while the field workers in the private insurance sector are thriving, the development officers of LIC are neglected a lot, even though the later give more business than any other insurance agencies.
“We are proposing the demonstration and parliament march with the demand that the development officers of LIC be strengthened to fight the competition from private sector,” said Biranchi Narayan Dash, president Cuttack divisional association of NFIFWI.
“We would highlight the anti-customer attitude and management decision, which is destroying the marketing force of LIC and there by derailing it,” he said.
Dash alleged that in August 2004, the LIC management drastically reduced the income and working expenses of the field force through a unilaterally imposed growth oriented incentives bonus (GOIB) scheme 2004.
“Apart from the denial of expenses, the fall in income due to the scheme was 50-90 percent. At the time of introduction of the scheme, LIC management had claimed that this was being done to increase the market share from 88 to 95 percent but the result was a futher decline of 24 percent i.e from 88 to 64 percent. Now they are trying to unilaterally change the service conditions adversely and inflict losses,” he said.
“In January this year they also imposed a scheme without a fair and reasonable review of GOIB scheme 2004,” he claimed.
Strongly opposing the FDI in insurance sector, the association claimed that it was the government’s plea to appease private insurance companies.
“We also protest the move to remove sovereign guarantee given for LIC policies which is the only security measures available to a citizen of India,” Dash added.
Though the federation members have approached the finance ministry several times earlier to intervene and find an amicable solution with the LIC management but all their representations fell on deaf ears.