The Hindu Business Line : Aviva Life to expand BPO operations

Insurance major Aviva will expand its business process outsourcing operations in India as part of its plans to strengthen its presence in what is being seen a rapidly-emerging market. The BPO set-up has been one of Aviva's thrust areas in recent times.

The insurer, which has decided to continue with its strategy on the matter, is looking at a more focused presence on the BPO front, Mr Bert Paterson, Managing Director, Aviva Life Insurance India, indicated.

The observation assumes significance in context of Aviva's recent statement on this issue, especially on its intention to focus on the Indian business.

The latter, the insurance company has mentioned, is readying for an expansion, chiefly courtesy more bancassurance tie-ups. The latter contributes to well over 60 per cent of Aviva's business in India.

It already has a number of such partnerships, including with several foreign banks.

The company is further planning to come up with newer products, including unit-linked plans.

Some of the existing products may also be fine-tuned in line with the latest market conditions.

It also hopes to double its annualised premium equivalent to Rs 600 crore in the current year.

Avivahopes to tap opportunities in the pensions segment, which is expected to change significantly in the coming years. It also intends to expand its direct sales force.

He was talking to a group of visiting Indian journalists. Incidentally, Aviva's products are available in close to 400 centres.

Aviva's market share stood at 5.7 per cent in April-September 2006, up from 5.1 per cent in the same period last year. In terms of capitalisation - Rs 559 crore - it stands third among private-sector life insurance companies.

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