Aegon Religare to focus on south

Life insurance player Aegon Religare Life Insurance has firmed up measures to give a thrust to its operations in south India. The move is part of the company’s plan to have a pan-India presence with 38 branches spread across 32 cities.

Talking to Business Standard, Rajiv Jamkhedkar, CEO, Aegon Religare Life Insurance, said that the company had already begun operations in Kerala with two branches located at Kochi and Thiruvananthapuram.

A third one is scheduled to begin operations by the end of the year at Thrissur. “Of the 32 cities we have on our radar, the thrust will be on southern cities such as Kochi Thiruvananthapuram, Hyderabad, Vishakhapatnam, Bangalore, Chennai and Coimbatore,” he added.

Aegon Religare has also lined up plans to set up infrastructure and manpower availability in Kerala and other southern cities. “Kerala has a high potential for retail growth and Aegon Religare sees a big opportunity in this growing market.

The company has ensured better throughput and better experience for customers in Kochi, Thiruvananthapuram and Thrissur in terms of turn-around time, proposal handling, underwriting and policy issuance through its 14 systems that work together at the back-end,” Jamkhedkar said.

The company has an initial capital of Rs 370 crore to make a mark in the market.

He said, “the company has a branch profitability model in place and expects all the branches to break even within 36 months of launch.”