Aegon Life Insurance, an India-based private sector insurer, has rolled out its latest digital only insurance plan, known as POS Grip.
The new online offering is said to be a guaranteed return insurance plan.
Aegon Life Insurance CFO Rajeev Chugh told thehindubusinessline.com: “The company had rebooted the business approach about two years ago and the focus is on consolidation and tapping newer markets with innovative offerings.
“POS GRIP is in line with our philosophy of launching simple, easy to understand products for our customers. It provides tax efficient assured returns for customers who invest in fixed return instruments.
“It can be bought online at the customer’s convenience. Our regional market is also expanding, and we have specific plans for regional markets in the pipeline.”
Aegon Life was formed as a joint venture (JV) between Dutch life insurer Aegon and Religare Enterprises in 2008.
In 2015, Religare Enterprises sold its entire shareholding in the company, 44%, to Bennett, Coleman and Company.
Aegon Life manages its operations across 300 cities and towns across India, as of December 2018.