Mumbai: Bajaj Allianz Life Insurance Company Limited is making a determined attempt to penetrate the rural hinterland - it has entered in to a tie-up with seven leading regional rural banks (RRBs) sponsored by the Syndicate Bank to market its life insurance products. These RRBs will make available Bajaj Allianz life's insurance policies at over 1100 branches in rural areas. These RRBs are:
|Regional Rural Bank ||Branches ||State|
|Karnataka Vikas Gramin Bank ||480 Branches ||Karnataka |
|Rayalseema Gramin Bank ||150 Branches ||Andhra Pradesh|
|Gurgaon Gramin Bank ||130 Branches ||Haryana|
|Sree Ananta Gramin Bank ||81 Branches ||Andhra Pradesh|
|Pinakini Gramin Bank ||102 Branches ||Andhra Pradesh|
|North Malabar Gramin Bank ||160 branches ||Kerala |
|Prathama Bank ||170 branches ||Uttar Pradesh |
"We understand the need to provide flexible, affordable and easily available insurance in the semi-urban and rural areas which will help them plan for future and act as a security blanket. With these tie-ups Bajaj Allianz Life launches its major drive to reach the rural heartlands and to get access to the bottom of the pyramid, so as to provide the most flexible and simple Life Insurance products and services to the people in these areas. We can thus continue to strive towards achieving maximum customer satisfaction and truly be a pan India company" says Sam Ghosh, country manager, Allianz and CEO, Bajaj Allianz Life Insurance.
Bajaj Allianz currently heads the list of private life insurers in the country (as per September 2005 IRDA figures) moving up from the second position slot at the end of August, stating a GWP growth of over 360 per cent.