Aegon Religare Life to expand distribution

Aegon Religare Life Insurance (ARLI) on Monday announced plans to improve the topline for the current fiscal by expanding its distribution network. The focus of the company would be on increasing the branch network, hiring more life advisers and relationship managers and increasing the footprint of third-party distribution by acquiring a bank partner.

These would be backed by enhancing its integrated customer management strategy and developing new product lines, said Yateesh Srivastava, chief marketing officer of the company.

Addressing a press conference here, Srivastava said the number of advisers would be enhanced to 20,000 and over 800 relationship managers would be hired this fiscal year. This increased distribution will help the company target an increase in topline to a total received premium of Rs 500 crore as compared with Rs 166 crore achieved in FY 2009 -10. As of now, the company has a customer base of 70,000.