Aviva Life Insurance announces the launch of an additional 63 branches taking the total number to 104 branches in India.
- Launches 63 new branches; total branches in India go up to 104
- Ties-up with four more co-operative banks
- Total of 22 bancassurance partnerships in India, potential customer base of 41 million through bancassurance
Aviva Life Insurance announces the launch of an additional 63 branches taking the total number to 104 branches in India. Aviva has been able to rapidly establish its presence in the Indian market by adopting a differentiated approach to sales, distribution, marketing and product strategy. Aviva has also increased its field force capacity to nearly 9,500 financial planning 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 Cooperative Banks across India under the "Aviva Sahakar" programme. Aviva has emerged as a market leader with the largest number of bancassurance tie-ups, 22, by any private insurer present in India.
Speaking on the occasion, Stuart Purdy, managing director, Aviva India said: “Aviva has been steadily growing since the launch of its operations in the year 2002. 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.”
List of new branches:
| North | West | East | South |
| Amritsar | Ankleshwar | Jamshedpur | Rajamundry |
| Barielly | Rajkot 2 | Ranchi | Nellore |
| Allahabad | Kohlapur | Dhanbad | Pathanamitha |
| Jodhpur | Amravati | Jorhat | Trichur |
| Moradabad | Aurangabad | Sambalpur | Tirupur |
| Meerut | Nadiad | Dibrugarh | Trivandrum |
| Jammu | Surat | Balasore | Salem |
| Karnal | Navsari | Agartala | Trichi |
| Panipat | Jabalpur | Silchar | Hubli |
| Rohtak | Raipur | Rourkela | |
| Bhatinda | Bhopal | Keonjar | |
| Jalandhar | Neemuch | Siliguri | |
| Kota | Ujjain | Aungul | |
| Faziabad | Barauch | Gangtok | |
| Faridabad | Ahmednagar | Burdwan | |
| Patiala | Goa | Murshidabad | |
| Aligarh | Vapi | Midnapur | |
| Agra | Muzzarfarpur | ||
| Dehradun |
List of new bank partners:
| Name of the Bancassurance partner | Location | Number of branches |
| Goa State Co-operative Bank | Goa, Maharashtra | 64 |
| Vasantdada Shetkari Sahakari Bank | Sangli, Maharashtra | 35 |
| Singhbhum District Central Co-operative Bank | Chaibasa, Bihar | 24 |
| Darjeeling District Central Co-operative Bank | Kalimpong, West Bengal | 10 |
The business model with these four co-operative banks will be similar to the existing bancassurance relationships that Aviva already has in place with its current partners.
-ends-
For further information, please contact:
Vibha Gupta
IPAN Public Relations
Phone: 011-42492124
E-mail: vibha.gupta@ipan.com
Pooja Garg Khan
Aviva Life Insurance
Phone: 95124-2804141
E-mail: pooja.khan@avivaindia.com
About Aviva India
Aviva Life Insurance is a joint venture between Dabur and Aviva. Current paid up capital amounts to Rs 459 crore. Aviva plc is UK’s largest insurance group and the world’s oldest insurance group, with a history dating back to 1696. Today, it is the sixth largest insurer worldwide, with 30 million customers and Ł291 billion assets under management. Prior to nationalization, Aviva was the biggest of the foreign insurers operating in the Indian market.
Founded in 1884, Dabur is one of India’s oldest and largest groups of companies with the group’s consolidated annual sales in excess of Rs 1,537 crores. A professionally managed company it is the country’s leading producer of traditional healthcare products.
Aviva pioneered the concept of bancassurance in India, and has leveraged its global expertise in this area successfully in India. Bancassurance has been contributing close to 66% of the total sales of Aviva India. Through its branches and its bancassurance partner locations, Aviva products are available in 378 towns and cities across India.
Aviva’s products have been designed in a manner to provide customers flexibility, transparency and value for money. We have been among the first companies to introduce unit linked products in the market.
Aviva has a unique need based sales approach through the “Financial Health Check” (FHC). The FHC is a free service administered by our FPAs (financial planning advisers) for a need-based analysis of the customer’s long-term savings and insurance needs. Depending on the life stage and earnings of the customer, the FHC assesses and recommends the right insurance product for them.
Aviva is also keen to reach out to the underprivileged that have not had access to insurance so far. Through its association with BASIX (a micro financial institution) and other NGOs, it has been able to cover more than five lakh lives.