Life Insurance Corporation of India has entered into an agreement with NetAmbit, India’s leading financial services distribution company, for the distribution of its products such as Insurance plans, pension plans, unit plans, special plans and group schemes.
NetAmbit targets ` 500 crores business over the next 3 years for LIC. NetAmbit would be hiring 700 hundred people in Delhi, Mumbai, Chennai, Kolkata, Bangalore, Pune and Hyderabad to sell LIC products to the customers in an efficient & satisfactory manner. The strategic tie-up will lead to higher penetration in Tier2/3/4 towns, thus increasing its customer base.
Speaking on the occasion - Girish Batra, CMD, NetAmbit, said, “The dynamics of Indian Insurance Industry are changing; India is the fifth largest life insurance market in the emerging insurance economies globally and is growing at 32-34% annually. With this partnership our customers will have access to the products of the largest insurance brand in the country, LIC. The products being offered are Insurance plans, pension plans, unit plans, special plans and group schemes. It is our constant endevour to provide the best financial solutions to our ever-growing customer base.”
A.K. Sahoo, Executive Director (Bancassurance & Alternate Channels) LIC added, "We are delighted with our distribution tie-up with NetAmbit as they are India’s leading financial services distribution company. This tie-up will enable us to tap a larger customer base with their unparalleled expertise in financial services distribution.”
With its unique, proven, profitable and highly scalable model, NetAmbit is set to emerge as an even more formidable force in the financial sector in the years to come. The alliance with NetAmbit, LIC has obtained an extensive network spread across all the country which will be useful to customers in Metro and Tier 2, 3 & 4 cities.