IndiaFirst Life Insurance is targeting 20% growth in premiums this fiscal.
The company recorded Rs 1,316 crore in new business premiums in financial year 2012-13.
Moving forward, the company plans to focus on health
insurance. Sometime ago, the company launched its health card, wherein
customers can simply swipe the card after arriving at the hospital.
IndiaFirst is looking to increase its employee count to another 1,800
people this year and plans to recruit over 5,000 agents during the same
period.
Currently, the company's distribution network spans
3,500 agents, a 15 branch tie-up with various regional rural banks and
cooperative banks, apart from the bancassurance network of 6,200 (of
Andhra Bank and Bank of Baroda, promoters of the company).
IndiaFirst commenced operations in 2009 and is owned
by Bank of Baroda, Andhra Bank and UK's wealth and investment company,
Legal & General.
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