Aegon Life to move away from agency channel

Online insurance company Aegon Life Insurance today said it is looking at significant investments in technology over the next 2-3 years, a move to shift towards digitally-enabled omni-channel distribution model.
"Our efforts are towards improving direct engagement with our customers. We see immense benefits in serving our customers directly by investing in technology, empowering them and improving efficiencies.
"This will enable cost saving, the benefits of which can be passed on to the customers," Aegon Life MD and CEO K S Gopalakrishnan said in release.
The company, he said, will look at significant investments in technology over the next 2-3 years to provide customers with a seamless omni-channel experience.

Riding on the wave of 'Digital India', Aegon Life Insurance will further strengthen its direct sales forces across the country.
The company will continue its partnership with third-party distributors, new-age partners like web aggregators and also pursue bank tie-ups.
Aegon Life Insurance will be moving away from the agency channel, and expand its presence through direct sales, Gopalakrishnan added.
It is a joint venture between international provider of life insurance, pensions and asset management Aegon and Bennett, Coleman and Company.