Birla Sun Life to focus on rural markets
By Our Banking Bureau | 20 Jan 2005
Hyderabad: Birla Sun Life Insurance Company Ltd (BSLI) is planning to strategically shift its focus towards the semi urban and rural markets in an aggressive way.
Speaking at a press conference, BSLI chief executive officer, Nani Javeri, said the company currently has a presence in 33 cities across the country with 44 branches. Of the total premium revenue of Rs524 crore, direct sales contributed around 42 per cent, alternative channels around 40 per cent and the balance came from group business.
Stating that the idea was to have 50 per cent of business from direct sales and the balance from alternative channels and group business, he said the company planned to set up 11 more branches by June, nine of them in class-III cities.
In the alternative channels, the company has entered into alliances with 10 banks across the country.
