Introduction
- Life Insurance Corporation of India (LIC) releases annual notification for the post of Assistant Administrative Officers (AAO).
- There are more than 168 posts for which the applications are invited online.
- All eligible Indian candidates who may be generalists, Chartered Accountants, IT professionals, actuarial, Rajbhasha can apply for the post.
- It is crucial to apply for the post before the last date of online registration. It is equally important to know the nature of the roles and responsibilities of an AAO before applying for the same.
LIC AAO
- LIC is a state-owned insurance company. Therefore, working here is a privilege.
- One of the best entry-level jobs of the Indian insurance sector is that of LIC AAO. The job is highly demanding, and lakhs of candidates apply for the same annually.
- There are numerous opportunities that AAO’s receive to learn everything they should about the insurance sector. This helps them to grow professionally as well as personally.
- LIC has many branches all over India. Training and postings require AAO's to relocate frequently. However, since most of the branches are there in the cities and towns only, AAOs are most likely to be placed in the developed or developing area only.
- LIC AAO is an administrative job. The responsibilities primarily vary according to the department in which the officer works.
- Actuarial
- Finance or Accounts
- Claims
- Information Technology
- New Business
- Inspection
- Policy Servicing
- Marketing and Sales
Here is a list of thirteen primary responsibilities that an LIC AAO is entitled to.
- LIC AAO is responsible for the planning of new schemes and policies that are being offered to the clients.
- Primarily, the AAOS have to help the Administrative Officer who is also the head of the department. The responsibilities of AAOs here is to supervise the general functioning of their respective departments.
- LIC AAO’s process policy applications that they receive from prospective policyholders.
- LIC AAO's are in charge of inspecting and analyzing the policies that are currently running.
- The database is crucial in LIC. Therefore, AAOs also help to create and maintain these databases.
- AAO ‘s responsibly process the claims that come for filling. It is equally essential that AAO's manage these claims properly.
- AAO's get the opportunity to interact with prospective customers, vendors, sales personnel, and other professionals.
- Interaction is vital as it helps to connect the AAO's with the clients. At LIC, AAO's are responsible for interacting with the clients. This also includes interactions that take place to resolve the queries.
- AAO's communicate with various departments. This helps them to coordinate work in a better way.
- Negotiation is another aspect of interaction and communication. LIC AAO's are responsible for negotiating with the agents and development officers.
- AAO’s are specified with some duties by the officer-in-charger. These duties must be performed timely by them.
- There are some tasks assigned to the AAOs by the department heads.
- Sometimes, AAOs undertake underwriting job tasks.
- It is crucial to note that procuring more business to the organization is the task of the agent. AAO's are not expected to procure business; rather their roles and responsibilities are administrative.
- The pay scale of LIC’s AAO is 17240-840(14)-29000-910(4)-32640. It is revised regularly.
- In a metropolitan city, the total emoluments that an AAO is entitled are INR 40,245 monthly. This is inclusive of the House Rent Allowance and the compensatory city allowance.
- According to the rules, medical benefits, group personal accident insurance, vehicle loan for two wheelers and four wheelers, group medical-claim, and group insurance are available.
- Besides, other benefits include defined contributory pension, special allowance for passing the actuarial examination, LTC, gratuity, and cash .
- The promotions at LIC happen at a languid pace. However, employees receive ample opportunities for developments and growth.
- It takes almost 4 to 8 years of consistent work to get a promotion in LIC. This is because it helps the employees to gain experience by working.
- Besides the promotions, LIC AAOs are also transferred to some of the other departments. These transfers are dependent upon the internal requirements and the interest of the employees.
- Through these transfers, it is often possible that the AAO's are promoted to Assistant Branch Manager (ABM), Branch Manager (BM), and so on.