#KaroPooriTaiyaari By HDFC Life adgully.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adgully.com Daily Mail and Mail on Sunday newspapers.
Updated Jan 25, 2021 | 14:04 IST
Cautiously optimistic on VNB margin and expect it to exceed last year level of 25.9%. Demand for Insurance products will rise, says Vibha Padalkar, MD & CEO, HDFC Life Insurance. Representational Image
Key Highlights
Need to separately carve out section for insurance, pension and savings in budget
Deduction of purchase price that customer has paid to buy annuity will be good if it comes in budget
HDFC Life Insurance reported a slightly mixed performance in Q3. During Q3 FY21(October-December quarter) quite a few parameters like VNB margins, market share, new business APE and persistency trends improved along with cost control.
20% plus year-on-year growth in protection business very doable: Vibha Padalkar, HDFC Life
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Last Updated: Jan 25, 2021, 04:30 PM IST
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Synopsis
Given the fairly low levels of protection as well as coverage for senior citizens, the insurance company can expect to see robust growth at both ends of the spectrum.
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Either doing away with or significantly reducing the interest that people get when they lapse their policies would help because people need to be told that it is not in their interest to lapse their policies and very clearly give the message that these are long-term products, says
What has contributed to the overall improvement in the market share in the embedded value?
We will continue to invest in data and analytics to model personalised experiences
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The year 2020 challenged deep-rooted beliefs and transformed the way we work. Beliefs such as sales can occur only in physical branches or physical documents are required to be presented in person to close a sale or we will always need branches to service customers no longer hold true.
The pandemic also tested the resilience, adaptability and sustenance of individuals and organisations. Adapting to long-lasting shifts in consumer and distributor behaviour is now a necessity. Displacement of the usual and advent of the new normal may be spoken of for generations to come.
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