ICICI Life Insurance Limited has announced plans to recruit 20,000 women advisors across India by the end of FY2027, as reported by The Hindu BusinessLine. The recruitment drive, announced on October 15 under the company's Narishakti initiative on the occasion of Navratri, comes as the initiative completes two years. The announcement was made on Thursday, marking the second anniversary of the programme. The company currently has more than 78,000 women advisors as of September 30, 2026, demonstrating significant growth in this segment. "We, at ICICI Life Insurance, firmly believe that 'Talent has no gender'," said Amish Banker, chief distribution officer at ICICI Life Insurance Limited. The planned recruitment would expand the existing network of women advisors as the company seeks to strengthen its agency distribution business.
Women currently account for around 32% of ICICI Life's advisor base but contribute 45% of agency business, according to The Hindu BusinessLine report. The company said women advisors contribute more than half of its agency business in Bengaluru, Kerala and Mumbai, indicating their significant role in the distribution network in these markets. More than 500 women advisors have also qualified for the Million Dollar Round Table (MDRT), a global trade association for top-performing life insurance agents. Banker emphasized that "Navratri is the perfect occasion to welcome more women advisors into our Narishakti force, equipping them with the skillsets needed to actively drive our government's vision of Insurance for All by 2047."
As reported by The Hindu BusinessLine, ICICI Life's women advisors come from varied backgrounds, including homemakers, salaried professionals and businesswomen. Banker attributed their contribution to their ability to understand customer needs, offer suitable solutions and maintain relationships beyond the initial sale. The company said its women advisors play a role in helping customers identify insurance needs and secure their families financially. "Their ability to understand customer needs, offer suitable solutions and maintain relationships beyond the initial sale is what makes them so effective," Banker noted.
The Narishakti initiative was designed to equip women advisors with the skills and support needed to expand their role in the insurance business. Launched in 2024, the programme targets homemakers, salaried professionals, and businesswomen. Banker said the initiative provides training and support to help women build careers as financial planners with no upfront investment and flexible working hours. The planned recruitment would expand the existing network of women advisors as the company seeks to strengthen its agency distribution business. The recruitment target comes as the company seeks to increase women's representation in its agency network while building on their existing contribution to business.
Notably, 47% of the company's women advisors have been associated with ICICI Life for more than 10 years, indicating high retention rates in this segment. ICICI Life Insurance currently protects 73.73 million lives across India, as reported by The Hindu BusinessLine. The company's women advisors demonstrate strong customer understanding and relationship skills critical to the insurance business, with their ability to understand customer needs and maintain relationships beyond initial sales being key factors in their effectiveness.
