Shriram Life Insurance plans to expand into tier 2 and 3 towns across 15 states, focusing on underserved customer segments needing life insurance, said MD and CEO Casparus J H Kromhout. The company aims to deepen its presence in key states like Andhra Pradesh, Telangana, Tamil Nadu, Uttar Pradesh, Odisha, and Bihar.
The insurance major would emphasize customer segments where the need for life insurance is the highest, yet have been financially underserved, company Managing Director and CEO Casparus J H Kromhout said.
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If predictions of an above-average monsoon this year pan out, it will help agricultural output and support rural income. The market is expecting a bounce back in rural demand from a good monsoon, Ajit Banerjee said.