Kotak Life Insurance to expand its presence in Indian cities

Kotak Life Insurance to expand its presence in Indian cities

Private life insurance company Kotak Life Insurance has said in a statement that they are aiming to expand their presence in India to 90 cities by March 2008.

The company currently has a presence in around 31 cities.

They are also planning to expand its branch network to 140 branches by March 2008. They currently have around 46 branches. Gaurang Shah managing director Kotak Life spoke about these future goals of the company: “We expect the business to grow over 100% in the future. As a expansion strategy we plan to grow our agency force to 50,000 life advisors from the current 18,000.”

They are primarily focusing on Gujarat, Maharashtra, Kerala, Punjab and Haryana markets for growth. Shah added: “The cost of the spot transactions are much much higher than the derivatives transaction. We need tools to manage risks well.”