Bharti Axa Life Insurance, as part of its aggressive growth plans, aims to add new branches and hire insurance agents in the next financial year with a focus on profitable growth, said a top official.
The drive is part of the company’s overall strategy to strengthen its operation and enhance distribution footprint across the country, said Vikas Seth, managing director and CEO, Bharti Axa Life Insurance.
“We plan to create a large pool of productive agents, strengthen our existing adviser base and reach out to every nook and corner of the country,” he said.”This will strengthen our distribution bandwidth and help in new customer acquisition,” he said.
During the current year, the firm hired close to 10,000 insurance advisors, marking an increase of 33% to 38,000 agents and added 50 new branches taking the total network of branches to 236.
With branch expansion and recruitment of insurance agents, Mr. Seth said, the company is aiming to create a stronger presence and enhance the width and depth of its reach in the country.
According to him, Bharti AXA’s Assets Under Management (AUM) crossed the ₹5,000-crore milestone.
“We have outgrown the life insurance industry in the first nine months of this fiscal. We are confident of achieving a robust growth by the end of the current financial year,” he said.