 "Aegon Religare Life Insurance bets big on online insurance")
Aegon Religare Life Insurance is betting big on the direct insurance channel through the online medium. In tandem with this strategy, the insurer today an online guaranteed insurance plan, Aegon Religare iGuarantee Insurance Plan.
This plan is aimed at customers who are looking at a steady return over the medium term while minimising risk and is only available online. iGuarantee offers a six-year premium paying term and policy term.
At the end of the policy term, the customer gets an annual return equal to 135 per cent of the premium, paid for a period of six years. For instance, if one pays premium of Rs 1 lakh per annum for 6 years, he/she would get Rs 1.35 lakh per annum for the following next six years.
KS Gopalakrishnan, Executive Director of ARLI said, “We pioneered the online space in life insurance and we would like to maintain our leadership position by offering an expanded suite of products. The iGuarantee plan is part of our endeavour to provide simple and uncomplicated products to our customers at their convenience."
He explained that in the near future too, they would focus on the online channel, apart from the other segments of distribution. The company is also moving towards profitability, through higher sales and focus on renewals.
According to their public disclosures, the company saw an almost 50 per cent drop in the net loss for the quarter ended September 30, 2013. AEGON Religare is looking to launch about 12 products under new product regime in the initial phase, which will have few unit-linked products.
This plan is aimed at customers who are looking at a steady return over the medium term while minimising risk and is only available online. iGuarantee offers a six-year premium paying term and policy term.
At the end of the policy term, the customer gets an annual return equal to 135 per cent of the premium, paid for a period of six years. For instance, if one pays premium of Rs 1 lakh per annum for 6 years, he/she would get Rs 1.35 lakh per annum for the following next six years.
KS Gopalakrishnan, Executive Director of ARLI said, “We pioneered the online space in life insurance and we would like to maintain our leadership position by offering an expanded suite of products. The iGuarantee plan is part of our endeavour to provide simple and uncomplicated products to our customers at their convenience."
He explained that in the near future too, they would focus on the online channel, apart from the other segments of distribution. The company is also moving towards profitability, through higher sales and focus on renewals.
According to their public disclosures, the company saw an almost 50 per cent drop in the net loss for the quarter ended September 30, 2013. AEGON Religare is looking to launch about 12 products under new product regime in the initial phase, which will have few unit-linked products.