Aviva Life Insurance has added 63 branches to its life assurance distribution network in India, taking the total number to 104 branches.
Aviva says it has been able to grow rapidly in the Indian market by adopting a differentiated approach to sales, distribution, marketing and product strategy. Aviva has also increased its field sales force to nearly 9,500 advisers.
Aviva has also partnered with four more co-operative banks in Maharashtra, Bihar and West Bengal. The bank partnerships are in addition to the existing bancassurance partnerships with 11 co-operative banks across India under the “Aviva Sahakar” programmed. Aviva has emerged as a market leader with the largest number of bancassurance tie-ups, 22, by any private insurer present in India.
“Aviva has been steadily growing since the launch of its operations in the year 2002,” says Stuart Purdy, managing director, Aviva India. “We have followed a dual distribution strategy of bancassurance and direct sales force rather than just focusing on the agency model. We are now present in 378 locations across the country. With the launch of new branches and tie-ups with banks, we have further strengthened our presence covering the length and breadth of the country.”