Press Releases2014Oct 06, 2014
Essel Finance forays into Insurance Distribution
Essel Finance, the financial services arm of Subhash Chandra promoted Essel Group, announced today the official launch of its insurance distribution business. The company has partnered with Reliance General and Bajaj Allianz Life to distribute their products to Essel Group's customers, partners and other affiliates.« Back
To start with, the company will work with the two insurance majors on the corporate agency model selling their insurance products exclusively through their group company network. Insurance products that will be sold will include Home, Personal Accident, Health, and Critical Illness, SME Loan (equipment), two-wheeler, Fire, Travel and others depending on the target market.
The company has appointed Mr. Saurabh Soni to head the operations for this line of business. With over 12 years of extensive experience in sales, product & campaign management, Mr. Soni is mandated to launch a nation-wide distribution network with focused technology driven solutions catering to a diversified client base that includes retail, corporate and institutional customers.
"We intend Essel Finance to become one of its kinds financial services conglomerate in the country and we are supremely excited to now enter into the insurance distribution business. While clearly this will mark a significant step in enhancing our company's footprints and in connecting us to a larger Indian audience, we intend this to become only the first in a series of successive moves where we will offer not only insurance but also a range of financial products and services to the consumer.â€ said Amitabh Chaturvedi, Managing Director, Essel Finance.
"We foresee a sizeable insurance potential that exists within the vast client network that our other group companies such as ZEE, Dish TV, Zee Learn, Fun Cinemas, Essel World, Essel Infrastructure have managed to successfully build over the years. As a group's financial services arm, we now intend to leverage those synergies to target that captive audience for sale of insurance and other financial products and services across the country. For this, we intend to have a team of dedicated marketing professionals who in close coordination with the insurance partner and the group companies will create a unique sales platform drawing heavily on technology", he continued.