|
IndiaFirst Life Insurance Company is targeting a premium income of Rs 600-700 crore during the current financial year 2010-11. In the first years of operation, company has clocked the new business premium income of Rs 200 crore since end November 2009.
IndiaFirst plans to further extend its distribution reach to all of the 4500 branches of its partner banks, Bank of Baroda (44%) and Andhra Bank (30%), in the current year to leverage the banks' vast database of customers of over 50 million.
IndiaFirst has also sought an approval to open 50 own branches across the country, of which three will be in Andhra Pradesh.
The company has insurance products in three segments, saving, education and future plans. By the end of this fiscal, it intends to introduce another 6-8 products, while it will also appoint about 10,000 insurance advisers across the country.
|