 "Aegon Religare expects good growth this fiscal")
Aegon Religare Life Insurance Company Limited expects to collect Rs 565 crore in total business premium in the current fiscal as compared with Rs 458 crore last year.
“The company has done well so far in this year even though it was a mixed bag for the life insurance industry at large,” Yateesh Srivastava, chief operating officer, said here today.
The company has launched two new online life insurance policies —iMaximise and iReturn plans — in a bid to increase the choice for online customers. With the new launches, it will have four product offerings for the online market, which contributes 20 per cent to new business and 14 per cent to new business premium collections, according to him.
In all, the company offers 20 products, including online products and eight riders. For the nine-month period Aegon Religare has collected Rs 106 crore in new business premium and Rs 210 crore in renewal premium, registering a growth of over 30 per cent, according to him.
He said the online business was expected to pick up further momentum as smartphones were pushing the online buying culture very fast. The company is expected to break even in 2017-18.
“The company has done well so far in this year even though it was a mixed bag for the life insurance industry at large,” Yateesh Srivastava, chief operating officer, said here today.
The company has launched two new online life insurance policies —iMaximise and iReturn plans — in a bid to increase the choice for online customers. With the new launches, it will have four product offerings for the online market, which contributes 20 per cent to new business and 14 per cent to new business premium collections, according to him.
In all, the company offers 20 products, including online products and eight riders. For the nine-month period Aegon Religare has collected Rs 106 crore in new business premium and Rs 210 crore in renewal premium, registering a growth of over 30 per cent, according to him.
He said the online business was expected to pick up further momentum as smartphones were pushing the online buying culture very fast. The company is expected to break even in 2017-18.