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Factors
for Success The company's decentralization policy has begun to
yield results. In the current year, the company will
be launching innovative and need-based products using
IT infrastructure, to drive their growth strategy. Wide
Network and Large Sales Force BALICL
has pan Indian presence and a large trained sales
force, which is one of the largest amongst the private
sector life insurers in the country. Bajaj Allianz
pioneered the phenomenon of bancassurance in India.
The company leveraged bancassurance channel to widen
its distribution network. More than 30 % of BALICL's
total premium income is contributed by its bancassurance
partners and has bancassurance tie-ups with many rural
and cooperative banks.
One of the fast-growing private life
insurance companies in India with over
300% growth for last two years in succession.Currently ranked first amongst private
sector life insurance companies as per the
IRDA results for April 05-January 06 for new
business market share.It has over 4,40,000 satisfied customers. The
company was first to touch the 100,000 and
200,000 customers mark amongst private
insurance companies.Present in more than 550 locations with
95,000 insurance consultants, providing the
finest customer service.Its gross premium collections till December
2005 were 1,367.04 crore or a growth of 301,
and it reached to Rs. 1,940 cr last quarter.At present it has a product portfolio of 26
products and a capital base of Rs. 500 cr,
with a market share of 7.38%.
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