LIC backs single-insurer model for individual agents, opposes open architecture
moneycontrol · 09 Nov 2026 · 3 min
Management interview of Life Insurance Corporation of India (LICI).
- R Doraiswamy, MD & CEO, LIC
LIC MD & CEO R Doraiswamy stated that he does not recommend an open architecture model for individual agents at either a personal or institutional level. He argued that agents carry credibility through their insurer association and that mastering multiple companies' product suites is challenging. Furthermore, insurers invest significant time and money to recruit and train distributors, which would be undermined if rivals could simply poach existing agents. He noted that maintaining the single-insurer framework incentivises fresh hiring and supports employment generation in India.