Aviva Life Insurance has entered into a tie-up with region based financial services provider Paul Merchants Ltd (PML) through which it plans to increase the insurance penetration in the NRI markets. By using Paul Merchants’ network of over 100 branches and more than 10,000 sub-agents across India, Aviva will sell its products like Life
Long, Save Guard, Life Saver plus and pension plus to PML customers. PML will sell Aviva’s products initially in Punjab, Haryana, UP and Delhi through about 50 outlets.
Yash Jagdhari, regional director (North), Bancassurance and Business Partnerships, Aviva said, “We have entered into a referral arrangement with Paul Merchants and our products would be sold to their customers by our advisors pan India. We would be initiating this business plan in Punjab, Haryana, Delhi and Uttar Pradesh at present. And gradually we would expand in the markets of South and East India. We have a strong presence in Punjab through our bancassurance tie-ups and direct sales force. We have a long term and aggressive plan for Aviva India and tie-up with Paul Merchants would enable us to expand our reach to the NRI customers.
