Interview with Mr. Narayan Chandra Maiti, Agent, LICI
By Ratikanta Singh
I had the opportunity to interview Mr. Narayan Chandra Maiti, a CM’s Club (Chairman’s club member) agent of Tamluk Branch office under Kharagpur Division, L.I.C. of India. Sri Maiti is a very unassuming and simple agent with high ambition and professional approach to the job of Life Insurance agency. He understands the human life value as per insurance parlance. He wants to give adequate insurance cover as per the need and capacity of the individual and family. He is like a friend, philosopher and guide to the customers of LIC.
He is from rural area. But is very much up to date in information technology and social media. He is not only a CM’s club member but also a CLIA (Chief Life Insurance Advisor) of LIC of India. He has a paperless office of his own. He keeps all the required papers of customers in scanned form. There are two employees working in his office. One person is assigned with computer job and the other one takes care of all the outside works. Sri Maiti is a smiling and very cool person with a positive frame of mind.
The interview started in the evening. I welcomed Sri Maiti and he gave an electrifying smile before taking his seat. He thanked me and I welcomed him sincerely. The interview started by me (Ratikanta Singh) with Sri Maiti.
Q no-1-Ratikanta Singh (RS) –
Narayan Chandra Maiti (NCM)-
I am from a poor farmer family with a younger brothers and a sister. Just after completion of HSC examination my father died all of a sudden. Entire responsibility of my family was on me. I was shocked and confused. But I had a strong desire for higher study. Initially finance was a great hindrance for my further studies. I tried to solve this problem by taking tuition and continued my study. I made it a point to help other poor students also. Whenever I used to get ten students for tuition I used to take the eleventh boy to teach at free of cost. I used to earn meagre amount of Rs.1500/- from tuition in the morning as well as evening. At the same time I was always trying to have another source of income for better livelihood. I wanted to become an agent of LIC. But unfortunately many discouraged me. They were not telling me the right way to become an agent. I almost lost my hope. Luckily once, during my train journey from Haur to Mechada I met Sri Sanjaya Kumar Baidya, who happens to be a Development officer of Tamluk Branch of LIC. When I shown my interest for agency, he invited me to the Branch with required documents on next day. I was so excited that I reached the Branch well before time to meet Sri Baidya and happily became an agent of LICI.
I am happy to inform you that I received my first commission cheque of Rs.7000/- in November 1994. It was a pleasant surprise for me. It was more than four and half times of what I used to earn from my tuition which was only Rs.1500/- per month.
Sir, I would like to inform you that I have kept the Xerox copy of that cheque with me like a trophy.
Q no -2 (RS)- I am really impressed with your story. It is very much encouraging. Let me ask you the second question.
NCM– Sir, I became DM’s club member in the year 2001 and upgraded myself directly to CM’s club member in the year 2003. This achievement gave me the feeling of a successful agent.
Q no-3 (RS)- I am really happy and congratulate you for taking a big jump from DM to CM’s club member. It speaks volumes about your hard work and dedication. Let me ask you the next question.
NCM- This is a tough question but easy for me, Sir. I would like to tell you that basically I am a cool, calculated and rational fellow. I have the habit to analyse any problem faced by me. Also look into the positive and negative aspect of it. I am never agitated. During adversity also I smile. Sometimes I feel the problems are also impressed by my nature and do not create much havoc. And I am able to solve them in a rational manner. Actually sir, time is the best solver. It heals everything. One should have lot of patience and life goes on.
Q no-4 (RS)- Oh , It’s wonderful ! I like it, I like it very much. You will go a long way . God bless you. Let me ask you the next question.
NCM- Sir, you are so nice, you are encouraging me after my every reply. I am, thankful to you a lot.
As far as my strategies are concerned, I don’t have anything new. But I give due importance to the basic things. I thoroughly try to understand the products for various segments. I also find out the USP (unique selling points). I also compare the same type of product of other insurers. I really do a lot of home work before approaching any prospect/client. Always I take care and see that there is need based selling done by me. Due importance is also given to package selling. It is my endeavor to meet minimum five prospects/clients everyday for new business or servicing. I am keeping pace with the changing world. My appointments with prospects / clients are through what’s app , mobile , e mail, twitter and other social media. Generally I give my plan presentation through my Laptop. Considering the age and income of the person I present the calculated premium for the prospect in a separate sheet of paper. This I do for various Sum Assured (Coverage) so that it becomes easy for the prospect to decide. Sometimes some people go for higher premium and sometimes for lower premium. But the calculated sheet makes them convinced.
Q no -5 (RS)– Dear Maiti, you are on the right track. Very Nice, Very nice. Let me ask you the next question.
NCM- Sir, Many things which I have replied to the previous question on strategies are also part of my habits. Besides this I can also add that I am very disciplined, hard working and caring in nature. I always keep my ear , eyes and mind open. Ready to accept the rightful knowledge from any one for my benefits as well as for the benefits of others. Also I do experiment for improvement. Basically I am an open minded person with lot of patience to hear others. I hear more than I speak.
Q no -6 (RS)– Really you are a person with lot of value additions. I am very much happy.
NCM-Thank you sir, for your kind comments. Coming to the family aspects, I have my wife with two sons. My wife is housewife. She is very caring and encouraging to me. Lot of credit go to my wife for my success. I can very well say that behind every successful man there is motivation of a woman.
My two sons are studying. The elder son is doing Diploma in Engineering. The younger one is in class Eleventh.
My younger brother stays with me. We are in a joint family. My wife plays a vital role in our family and does all the coordination. We , brothers help each other.
Q no-7 (RS)- Happy to know your joint family structure. God bless you all. Let me now ask you the next question.
NCM– Yes, after they gain adequate qualification. I will be very happy to pass on the baton to them.
Q no-8 (RS)-It is good that you are thinking to bring them to this profession. I wish you all the best. Let me ask you the next question.
NCM– I relax through music. I do enjoy hearing old Bengali and Hindi filmy and non- filmy songs.
Q no-9 (RS)– So, Maiti old is gold. Badhia….. Let me ask you the next question.
NCM– I am mostly interested in news. I rarely see any other programme. I generally switch on All India News Channel for half an hour or so.
Q no-10 (RS)– So you are into information and make yourself up dated. Nice. Let me ask you the next question.
NCM-As per my thinking , anybody who has patience, likes to help people and have the capacity to work hard can come to this profession. But it will be better if he is professionally qualified.
Sir, I believe that the agency profession in life insurance is not less than the profession of a doctor, engineer or a lawyer. Rather it is far better than that. In this profession the agent is able to provide family protection and financial security. He is like a friend, philosopher and guide to the family and individual. He almost becomes part of every family who are his policyholders. Many a times they consult for many other miscellaneous matters also.
Q no-11 (RS)– Good , you feel you are at the top as far as your profession is concerned. You are ready to help people 24X7. This is a good gesture. Let me ask you the next question.
NCM- Sir, I will suggest and advise the following.
A). Advised to acquire enough knowledge on life insurance immediately after taking of agency. This will help him to establish as a successful agent quickly and one should go on updating knowledge and information on regular basis.
B). My advise particularly for the newly recruited agents is to take up this job in a professional manner. They should be full timer. This job can give enough. Hence, one should not put his legs on two boats.
C). Keep pace with the changing scenario in the context of Information Technology and social media. One should study financial news paper as well as financial magazines to enhance knowledge on Finance. Also should know about Stock market, Mutual Fund etc. so that he can utilize knowledge to convince the customers in a better way.
D). Every agent should try to maintain work life balance. Also should take care for his good health and fitness.
Q no-12 (RS)– Well said, Maiti, well said. I am very much happy. Let me ask you the last question.
NCM-I will qualify for MDRT ( Million Dollar Round Table) in the year 2018-19. It will be very much challenging in rural area, still I will do it. I will also try to play a big role in increasing the awareness about the importance of Life Insurance in the society. And I will enhance my skill as an ambassador of Life Insurance Corporation of India. At last I would like to say that I am grateful to Life Insurance Corporation of India. This great Organisation has given me everything.
RS- A big THANK YOU to you, Mr Maiti. It was nice talking to you. You have highlighted the professional approach needed for an insurance agent. You are really proving yourself as a big asset to the organization and society. Also there is a lot to learn from you and you are an inspiring person. Continue this great job. I wish you mega success.
NCM- I also thank you very much to you Sir. You have encouraged me a lot through this interview. Thanks again. I will be in touch with you. Sir, before I give my mobile no and ID let me tell you in my mother tongue Bangla…The principle which I follow in my life-“DIN CHALE JAYE,DAITYA O KARTABYA BAKI THEKE JAYE”. The meaning in English is , “DAYS PASS BY BUT RESPONSIBILITIES AND DUTIES REMAIN TO BE PERFORMED BY US”. Now let me give my mobile no- 9434025132 and mail ID email@example.com.