Bajaj Allianz Life Insurance, one of the leading private life insurance companies, plans to recruit about 5000 more agents in Orissa over next 15 months.
This will take the total number of agents of the company in the state to about 21,000 by the end of 2010-11 from 16,000 at present, Debabrata Panini, Senior Regional Manager (South Orissa) said.
Addressing the media here Panini said, the company is now increasingly focusing on the traditional insurance products. As a result, the share of traditional products which was 4 to 5 percent of the total business, has increased to 11 percent at present. The company hopes the share to increase to 20 percent by the end of the current fiscal. Bajaj Allianz , which has set a premium collection target of Rs 325 crore in Orissa in the current fiscal, has already achieved a collection of Rs 250 crore. Out of it, the new business premium is about Rs 110 crore. While the south Orissa region has contributed about Rs 40 crore new premium, the remaining was collected from the north region.
He said, the company has earned a profit of Rs 193 crore during the first half of the current fiscal and was able to offer 65 -100 percent return on equity fund. The company which launched a high tech van called‘ Tax Emergenct Van” in Bhubaneswar from 25 to 27 December, is bullish on the business in the state. This high tech van travelled across the capital city and disseminated information on tax planning.
