Bharti Axa plans to strengthen branches, expand business

June 5th, 2009 - 9:32 pm ICT by IANS  

Chennai, June 5 (IANS) The promoters of private life insurer Bharti Axa Life Insurance will infuse Rs.100 crore in the next quarter to strengthen the company’s branches and expand business so that it can break even by 2012-13, a top official said here Friday.
Bharti group and French group Axa are the promoters of the Rs.360-crore company.

“This year the company will not add any new branches to its existing 203 units. On the other hand we will increase our agency force by 20,000 to 50,000 agents,” Rishi Mathur, head of product development and customer management, told reporters.

The company will also increase its telcassurance outlets - telecom outlets that sell life insurance polices - by 3,000 to 7,000 outlets.

Bharti group’s proposed retail outlets will also sell life insurance policies.

Mathur said the company would soon unveil performance norms for branch managers.

“The norms not only provides flexibility and authority to the branch managers in managing the costs but also fixes accountability and responsibility,” he added.

The company has set revenue target of Rs.1,000 crore for the current fiscal and will shortly come out with health and micro insurance products, Mathur said.

Bharti Axa will also set up a call centre to address the needs of its agency force.

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