Edelweiss Tokio Life Insurance, the insurance arm of Edelweiss Financial Services, is expanding its presence in the South with a target to meet the insurance needs of nearly three lakh individuals by 2020 from the present 15,000.

“It is an achievable target as it covers the entire group,” according to Deepak Mittal, Managing Director and CEO, Edelweiss Tokio Life Insurance.

Finance advisors

The company will have nearly 5,000 trained personal finance advisors, offering need-based life insurance solutions in South in the next six years, he told newspersons on the launch of Edelweiss Tokio Life office in Chennai — the 59{+t}{+h} branch of the insurance arm of Edelweiss.

The branch will leverage the growing business opportunities in Chennai, which is the biggest industrial and commercial centre in the South.The branch is the sixth touch point in the South for the insurance business, he said.

The company plans to roll out a few online insurance policies soon, he said without giving details.

Patel said that the insurance arm will end the current financial year with total premium income of over ₹100 crore when compared with ₹65 crore in 2013-14.