Inspite on economic crisis, delay in increase of FDI to 49%, Bajaj Allianz,
which is a joint venture between Bajaj Finserve Limited and Allianz SE,
expects its company to grow at 20% in next five years. At present the
company is growing at 6 - 7%. The company is planning its expansion in
the rural areas of the country.
Justifying
the expansion and increased growth, Mr. Tapan Singhel – Managing
Director and Chief Executive Officer of the company said that business
in rural area is vibrant with car sales and FMCG products are on a rise.
Rural areas will be a key factor in attaining growth of a general
insurance company. In addition to the above, he added that, insurance
penetration being very low in rural areas, will also throw up a huge
opportunity to expand the business.
Adding
to the above, he revealed that the expansion in the rural area will be
driven by low cost, high service model supported with latest technology.
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