Customers' needs and perceptions have evolved: Vikas Seth, CEO, Bharti AXA

'There is an increased focus on protection policies'

Vikas Seth, managing director and chief executive officer of Bharti AXA Life Insurance Company, claims there is a shift in customers’ needs and they are demanding more protection policies. He talks to Advait Rao Palepu about the company’s expansion plans, industry trends and how the macro environment will affect the life insurance industry. Edited excerpts:

 

Many life insurance companies are now focussing on selling more protection policies as opposed to savings products. Can you explain the rationale behind this?

The main purpose of a life insurance company is to provide a cover to the customer and their family. Earlier, insurance