SBI Life to leverage bank network also raising the no of agents

SBI Life is setting up to raise its operations in the rural and semi-urban areas by improved utilization of SBI branch network and raising the number of advisor.

SBI Life said that they want to make a important difference in our rural reach by doubling the number of agents by 2008-09 and fuller-utilization of SBI branch network in rural areas.

SBI has more than 7,000 branches in the country. More than 50 pct of these are located in rural and semi-urban areas. Though SBI's products are being sold in these branches, there is a lot of scope for further business.

BI Life would launch a health product in the first quarter of the next fiscal and implement direct payment of premium through core banking network.

SBI life has implemented a pilot micro insurance project, Grameenn Shakti, in Bhubaneswar for Self Help Groups (SHGs) in December, 2007 and provided life cover to 2.5 lakh women.

Source: insuremagic