The Oriental Insurance Company Ltd is planning to tap huge untapped insurance potential by roping in college and school students by creating awareness about taking a cover, a top company official said today.
"The students can be sensitised and it would also give them opportunity to earn while still in campus," A K Saxena, Chairman and Managing Director, OICL told reporters here.
Stating that OICL's market share was around 10 per cent, he said that insurance penetration in India was less than one per cent, giving a huge untapped potential, which the company wanted to explore.
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Despite huge market for general insurance business in India, the company was all set to tap the potential in select overseas centres, he said.
As the company's Qatar office was expected to commence by the end of this year, it was looking to expand its presence in SAARC Nations, he said.
He said the company has offices in Kuwait, Dubai and Nepal.
Saxena, here to inaugurate a Regional Office, 30th in the country and the third in Tamil Nadu, said that another Regional Office will be opened in Madurai soon.
With a network of 30 Regional Offices and 1800 plus offices, "We are trying to use Jan Dhan Yojana and tie-up with banks like Punjab National and Oriental Bank of Commerce for better penetration," Saxena said.
The company was also looking to invest in properties aggressively, he said.
