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Our Bureau

Aims to strengthen distribution network

Kolkata May 28 Tata AIG Life Insurance plans to embark on an expansion plan in the east, a region that currently accounts for a critical part of its overall business in the country.

The company, which has lately opened 10 new branches in the region, intends to tap what is being described as `insurance potential', courtesy increased investment in its infrastructure.

Retail thrust

These branches will enable Tata AIG Life to further its retail thrust in West Bengal and elsewhere, felt Mr Trevor Bull, Managing Director. Strengthening the distribution network will allow it to cater to a wider spectrum of customers in the eastern states.

The company is also considering adding about 10,000 people to its existing agency force in the region, he said, adding that West Bengal is an important insurance market, fitting well in its growth strategy.

With a wider network, Tata AIG Life is looking at a step-up in premium income, which stood at over Rs 1,300 crore in 2006-07 (including new premium income). The company, incidentally, is considering fresh launches on the pension and health fronts, among others, in the months ahead.

Big role

Mr Manish Lalwani, Senior V-P and Zonal Business Head for the region, pointed out that the east has a major role to play in the company's all-India plans. It now accounts for roughly 24 per cent of Tata AIG Life's total business. The insurer has bancassurance tie-ups with United Bank of India and HSBC.

Tata AIG Life, which has been in India since April 2001 and has four offices in the state, will scale it up to over 15.

More Stories on : Life Insurance | West Bengal

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