Financial Daily from THE HINDU group of publications
Friday, Apr 14, 2006
Financial Daily from THE HINDU group of publications Friday, Apr 14, 2006 |
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Money & Banking
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Life Insurance Aviva Life eyes more bancassurance tie-ups Nilanjan Dey
Kolkata , April 13 Aviva Life Insurance, for which over 60 per cent of sales is on account of bancassurance tie-ups, is eyeing more arrangements with banks, including co-operative banks that cater to semi-urban markets. The insurer, which currently operates through over 20 bancassurance partnerships, recently entered into distribution arrangements with four co-operative banks, including ones in West Bengal and Bihar. The plan, said Mr Vivek Khanna, in charge of marketing at Aviva, is to leverage these banks' networks and goodwill among customer. "A number of co-operative banks are doing decent work in markets we wish to enter. We hope to tap their strengths," he mentioned. The company's latest associations will add to its suite of existing partnerships - nearly a dozen co-operative banks under a programme that has been titled `Aviva Sahakar'. Aviva, it is also claimed, has the highest number of bancassurance partnerships among private-sector insurance outfits.
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