MUMBAI: Bandhan Financial Holdings has renamed Aegon Life Insurance to Bandhan Life after acquiring the life insurer. As part of its growth strategy, the new company has charted a five-year plan to become a multi-channel life insurer. It will recruit 1,000 new employees soon. BFHL acquired its stake from BCCL and Aegon Indian Holding to become the new promoter in Feb 2024.BCCL is the publisher of TOI.
Bandhan Life’s MD and CEO, Satishwar B, said, “Our vision for the next five years is set… We will expand our presence across all relevant product categories, thereby enhancing the services we provide.” He added, “We have heavily invested in technology and data-driven processes to keep pace with our strategy of using tech as an enabler. This combination will help us achieve our goal of growing with the new Bharat.”
In the beginning, Bandhan Bank is likely to be the largest distribution partner given their size and scale. It has a presence in all customer categories, including mass customers as well as conventional banking customers, said Satishwar. “While we are largely a digital company, we are not restricting sales to online. In our distribution through partners, a majority of the processes are tech-enabled, so once the customer knows what they want to buy, the rest of the process happens fast,” he said.
Bandhan Life’s MD and CEO, Satishwar B, said, “Our vision for the next five years is set… We will expand our presence across all relevant product categories, thereby enhancing the services we provide.” He added, “We have heavily invested in technology and data-driven processes to keep pace with our strategy of using tech as an enabler. This combination will help us achieve our goal of growing with the new Bharat.”
In the beginning, Bandhan Bank is likely to be the largest distribution partner given their size and scale. It has a presence in all customer categories, including mass customers as well as conventional banking customers, said Satishwar. “While we are largely a digital company, we are not restricting sales to online. In our distribution through partners, a majority of the processes are tech-enabled, so once the customer knows what they want to buy, the rest of the process happens fast,” he said.