Bharti Axa Life Insurance Company today announced the launch of its nationwide operations. The company is entering Delhi, Kolkata, Chennai and Bangalore markets and has plans to extend its presence to 15 cities over the next quarter by aligning with the Bharti Airtel distribution points, corporate agents and brokers. | |
| The company will infuse Rs 500-550 crore in the next three years to propel its business. For the current year, the company will bring in Rs 188 crore and will tap tier-II and tier-III cities, said Nitin Chopra, CEO of Bharti Axa. |
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| The company is currently tapping the Airtel customers by sending direct mailers. |
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| "Today, 46 per cent of the population is covered by Bharti. We aim to leverage the strength of Bharti and use Axa's best practices and knowledge base to be closer to our customers, said Chopra. |
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| Bharti Axa had launched its operations in Mumbai and Hyderabad three months ago. The company is combining the services of agents, salaried advisers and brokers and is also considering bancassurance to penetrate the market. |
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| Chopra said the insurance market in the country is underdeveloped and needs attention. "We want to get into pensions," he added. |
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| When asked if Axa has plans to offer mutual funds and property insurance, Henri De Castries, chairman of the management board, Axa SA, said, "Yes, these will be considered, but later. As of now, we will be announcing several joint ventures in the coming weeks." |
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| He also added that if FDI is allowed, Axa will look at increasing its stake, as India is of strategic importance. |
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| The company has also launched its third product "� a term product "� and will launch an endowment plan and has filed for the rollout of a single-premium product with the Irda. |
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| The company is planning an extensive media flash in a few months in different cities to develop brand and creative rendition. |
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