Private sector insurer Bharti AXA General Insurance Company Ltd is eyeing big in the state of Assam as the company plans to double its business in the state by the end of 2012 calendar year.
The company, which has so far sold over 73,159 policies in the eastern region, aims at penetrating deeper into rural and semi-urban markets across Assam in order to increase its presence in the state. Assam contributes 10 per cent of the company’s overall East Zone revenue and the company has so far sold over 7,796 policies and settled 717 claims in Guwahati.
“Guwahati is a key market for us in the Eastern region which currently contributes 10 per cent to the company’s overall East Zone revenue. We aim to double Guwahati’s contribution in the coming year by increasing our sales in the vertical of MFIs, health and commercial lines. In 2012 we look forward to increasing our presence in Guwahati and also improving our internal efficiency and enhancing organizational growth,” said Sampath Kumar, chief financial officer (CFO) of Bharti AXA.
Kumar said that the company planned to have “strategic tie-ups” with micro-finance institutions (MFIs) that would provide a platform to reach the underserved segment in the state, particularly in rural and semi-urban areas.
