Bajaj allianz life edges out ICICI pru to top in new policies
TMCnet
TMC Launches New Sites ::  NGC  |  4GWE  |  Green Tech  |  Satellite  |  IT |  IVR |  ITEXPO SHOW NEWS  |  Healthcare  |  Cisco News  |  Skype News  |  Microsoft News  |  AVAYA News
  INDUSTRIES
  VERTICALS
  HORIZONTAL
  PUBLICATIONS
  FREE RESOURCES
  INTERNATIONAL
  EVENTS
  ABOUT TMC
  COMMUNITIES
TMCnet CHANNELS
#1 VoIP Enabler: Risk-free, Quick & Easy Deployment
3G, VoIP & IPTV Performance Management
Advanced Carrier Services
All-in-one IPPBX
Appliance Deployment
ATCA
Auto Dialer
Billing
BPA (3rd Party Remote Call Monitoring)
Business Automation
Business Phone Systems
Business VoIP
Call Center
Call Center Certification
Call Center Digital Signage
Call Center Furniture
Call Center Hiring
Call Center Management
Call Center On Demand
Call Center Outsourcing
Call Center Scheduling
Call Center Software
Call Center Solutions
Call Center Training
Call Center Workforce Management
Call Monitoring
Call Recording
Conference Call
Conference Phones
Conferencing
Contact Center Software
CRM Solutions
Dialer
DID/DDI
Digital Signage
e911
E911 Hosted Solutions
Ethernet Extender
Fax
Fax Over IP
HD Conference
Headsets
Hosted Call Center
Hosted Contact Center
Hosted PBX
Integrated Communications
IP Fax
IP Phone System
IP Phones
IVR
Lead Management Software
Master Agent
Mobile Management
Mobile Unified Communications
Mobile Video
NEBS
Open Source CRM
Phone Systems
Predictive Dialer
SIP
Speech Recognition and Text to Speech
Telecom Expense Management
Telecom Training
Telemarketing Software
Virtual Call Center
Virtual Office
Virtual PBX
Voice Broadcast
Voice Management
Voice Over IP
Voice Peering
Voicemail Replacement
VoIP Contact Center
VoIP Developer
VoIP Gateways
VoIP Monitoring
VoIP Robustness Testing
VoIP Test Solutions
VoIPSwitch
Web Conferencing
Web Meeting
Wholesale VoIP
Wireless Expense Management
Wireless Management
Workforce Management
Workforce Optimization
Share
TMCnews
[February 27, 2006]

Bajaj allianz life edges out ICICI pru to top in new policies

(Ecomonic Times, The (India) (KRT) Via Thomson Dialog NewsEdge) Feb. 27--MUMBAI, India -- Bajaj Allianz Life Insurance has upstaged ICICI Prudential at the No 1 position by recording the highest collections from new policies up to January '06. A large part of the collections is from single-premium policies and, therefore, non-recurring. If credits for single premiums are annualised (spread over the life of the policy), ICICI Prudential would remain No 1.



The total new business premium generated by Bajaj Allianz between April '05 and January '06 is Rs 1,680 crore against Rs 1,660 crore for ICICI Prudential. Sam Ghosh, MD, Bajaj Allianz Life, said sales from single-premium policies remained significant in January. "It means we will have to continue working hard to ensure that we stay ahead in February and March as well," he said.

"Bajaj Allianz seems to have gained momentum on a received premium basis. But as far as we are concerned, we are focused on growing the long-term business rather than the short-term business which is reflected in our funds under management of Rs 7,200 crore," said Shikha Sharma, MD, ICICI Prudential.



Mr Ghosh said the ability to maintain growth will depend on its agent recruitment. Bajaj Allianz has jumped to No 1 from No 5 in March '04. Before '04, it wasn't even among the top 5, while ICICI Prudential had been the largest private insurer from the outset.

While ICICI Prudential has a paid-up capital of over Rs 1,000 crore, for Bajaj Allianz, it's Rs 358 crore. This is partly because the reserve needs for single-premium policies are lower. Also, it has kept branch expenses low.

In the last five years, most insurers have moved to investment-linked policies to counter the fall in interest rates coupled with the equity boom. Compared to MFs, insurance companies can mobilise retail resources better because of their agency force. As most insurance companies' promoters have a MF arm , this is a conflict area. Bajaj Allianz is among those whose promoters don't own a MF.

[ Back To TMCnet.com's Homepage ]
Discussions:
Be the first to post a comment on this page!
 
By  
TMCnet
+ Add to the Discussion
Receive more news in your Email
Featured White Papers
Featured White Paper RSS feed
10 reasons to switch to an IP PBX
Satisfy Your Customers the First Time, Every Time
Application Whitelisting: A new security paradigm
view all white papers…
Top Stories
Today's TMCnet Top Stories and News Articles
U.S. to Spend $4 Billion on Broadband in Rural …
SIP Trunking's Success Puts Pressure on Carriers: IVR Expert
Open Internet Advocates to Congress: Take a Hard Look at …
Joost Targets Online Video Platforms
Are You a Caregiver? How to Reduce the Stress in …
more of today's top stories...
Related VoIP News
Latest IP Communitions and VoIP News
Qwest Ethernet Services Selected by the State of Utah
J.D. Power and Associates Ranks Verizon Business Highest in Customer Satisfaction
Cadence GRE Technology Reduces Hitachi's PCB Design-Cycle Time
Coleman Technologies Offers Borderless Unified Cisco Network
Kyrgyzstan's National Telecom Operator Selects Cisco's Technologies

Today @ TMC
Upcoming Events
ITEXPO West 2009
 September 1-3, 2009
Los Angeles Convention Center
Los Angeles, CA
4G Wireless Evolution Conference
 Collocated with ITEXPO
September 1-3, 2009
Los Angeles Convention Center
Los Angeles, CA
view more…
Subscribe FREE to all of TMC's monthly magazines. Click here now.