Reliance Life Insurance Company will launch 25 products in line with the new regulatory norms introduced by the insurance regulator recently.
“These products will be launched over the next three months,” Anup Rau, Chief Executive Officer, Reliance Life Insurance told newspersons here on Thursday.
“We will largely focus on traditional plans,” he added. The company is also planning to file more products from January 1, 2014.
Traditional plans and unit-linked plans will contribute 80 per cent and 20 per cent, respectively, to top-line in the new product environment, he said.
Agent-led model Reliance Life would continue to focus on an agent-led distribution model. “We are not cutting costs here and believe that this is the best time to hire,” he added.
It recently hired over 4,000 direct sales staff and is in the process of expanding its agent-base.
After the RBI and IRDA complete the ongoing regulatory exercise to overhaul the bancassurance channel, the company would look to tap this avenue also for growth.
The company’s new business premium stood at Rs 1,022 crore during April-September 2013 compared to Rs 571 crore in the corresponding period last year.
naga.gunturi@thehindu.co.in
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Published on December 6, 2013
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