Bharti Axa Life Insurance Company is looking to bring in more money into its business in the current financial year. They could infuse upto Rs. 450 crores in this year.
This amount is in addition to the Rs. 1300 crores which Bharti Axa Life Insurance has already infused in the business so far. The company will use these funds to increase the productivity of its existing network. [more] The company has 180 branches across India and instead of focussing on increasing it reach further, it would be channelizing its resources on making the existing networks more efficient and productive. By doing these the insurance company is expecting to move into the green by 2015.
In addition to the same the company is also evaluating on maximising the potential of the web. Having seen competitors launch online term insurance plans, the company could also launch its own version of online insurance selling.
The life insurance company has a host of ULIPs on offer and will not be entering the ULIP pension space. The ULIP pension plans is something which most insurance companies are not in a hurry to enter as there is a minimum guarantee which the regulator has prescribed. Currently the minimum returns guarantee stands at 4.5% per annum which most companies do not want to commit and hence are staying away.