Report: R Venkatesh/DHN
Pics: Rons Bantwal
Daijiworld Media Network - Mumbai
Mumbai, Jun 11: As a child of estate coolies, he braved many a risk to secure his future. No wonder his attempts at selling life insurance have gained global recognition.
On June 9, the Million Dollar Round Table (MDRT), a global hub of life insurance and financial services professionals, issued a communique announcing that Radhakrishna Shetty has been selected Regional Chairman of MDRT, USA.
Being the first Indian ever to assume the MDRT office since the organisation's inception in 1926, is the latest of the string of honours that decorate this insurance businessman; he is an agent and Top Wealth Manager of LIC; member of the Global MDRT Family for 11 successive years, and Member of the Top of the Table (TOT) for four continuous years - the world's highest recognition for anyone in the financial field.
Radhakrishna Shetty, whose parents worked at the Kambihalli coffee estate as labourers, finished schooling in Birur and later moved to Mumbai. He worked in hotels during the daytime and pursue his education in the evening. After graduating in commerce, he took to a career in selling life insurance.
Less than two decades later, he is now a top insurance agent. For four years now,, the Mumbai-based Shetty has generated an annual commission of over Rs 450,000 in new business alone. His premium collections have ranged between Rs 3 crore to Rs 4 crore for five years now. His annual sum assured has been more than Rs 25 crore during the period.
The regional chairman's job entrusted to Shetty is part selection, part result of meeting high standards and part secret voting. Shetty's region comprises India, Europe, Mid-East and Africa. An MDRT membership is recognised internationally as the standard of sales execellence in the life insurance and financial services business.
MDRT emphasises exceptional professional knowledge, strict ethical conduct and outstanding client service. "Having been selected to uphold the MDRT values among financial and insurance managers of more than 24 different countries is really a great honour in itself," Shetty says.
Shetty is leaving for Canada on June 15 to take charge of the new post from June 21. For two decades now, there has been no representation from Asia.
What next? A smiling Shetty discloses his dream of starting a low cost airline, Star Aviation, in the coming years. "We have ordered five aircraft of 80-90 seating capacity and I hope chikmagalur will soon have an airport so that my dreams can take wing from my hometown."