How Bajaj Allianz Life’s agency channel revved up to face pandemic woes
January 31, 2021
Sameer Joshi, Chief Agency Officer, Bajaj Allianz Life Insurance,×
Agency channel grew 23 per cent in December 2020, says Chief Agency Officer Joshi
A strong show by its agency channel in December 2020 has raised the confidence of Bajaj Allianz Life Insurance over meeting its last fiscal year performance despite the Covid-induced lockdown challenges impacting business during 2020-21, a top official said.
In December 2020, the agency channel recorded 23 per cent growth in Rated New Business at ₹131 crore as compared to ₹107 crore in same month in previous year. This is even as there was de-growth of about 12 per cent in the agency channel’s contribution during April - December 2020. In terms of the number of policies, there was a year-on-year growth of 10 per cent for the agency channel in December 2020, largely due to increased demand for term policies.