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IDBI Fortis expands network

IDBI Fortis Life Insurance is increasing more 100 branches. The company also depends on the bancassurance business.

Apnainsurance.com Research Bureau

22 May 2008

IDBI Fortis Life Insurance Company Pvt. Ltd. is a joint venture between IDBI , Federal Bank and Europe's banking and insurance Fortis.

The trio is making their presence in the country. They already have a network of 30 branches with 500 agents. They are increasing it by more 100 branches.

The company is working on the Bancassurance model which serves customers through their banking network which is around 1,000 branches and cliental base of 10 million. They estimate 66 per cent of the business to be coming from bancassurance.