Key Highlights · AEGON Religare Life Insurance Company Ltd is renamed as Aegon Life Insurance Company Ltd. · The management team of the company will remain unchanged and will stay committed to all its customers, partners and employees with added focus on customer experience through simplification and digitalisation. · All existing policy holders will continue to maintain the benefits with no change in the policy terms and conditions of their policies issued by AEGON Religare Life Insurance Company Ltd.
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Mumbai, December 07 2015: AEGON Religare Life Insurance Company, Ltd. is renamed as ‘Aegon Life Insurance Company, Ltd.’ (“Company”) today. We also confirm that Aegon N.V. has increased its stake in the Company to 49 percent. The Company is among the first Indian life insurance joint ventures to do so post the changes in the country’s foreign direct investment regulations. In addition, Bennett, Coleman and Company, Ltd. of the Times Group will increase its stake by acquiring Religare Enterprises Limited’s entire shareholding in the Company. All approvals from the Insurance Regulatory and Development Authority of India and other regulatory bodies have been received.
K S Gopalakrishnan, Managing Director and CEO – Aegon Life, commented: “Aegon’s global reach, and expertise in digital technology and customer analytics coupled with the Times Group’s knowhow in the Indian market will give us an edge. Being the first ones to launch an online term plan, we will continue to innovate in different products and categories.” He also added, “With this, we expect to increase our investments in areas that can help us achieve our vision of providing need based financial solutions to our customers anytime, anywhere providing them with a unique buying experience.”
Aegon Life – the new brand is designed on the tenet of simplicity with a strong digital edge. The Company is aligning its processes and products with an aim to de-jargonize, simplify and make every customer interaction a delightful experience. The Company’s focus as always will be to create better service platforms and cater to customer needs seamlessly, in the way they want to be served across all channels of distribution.
“We have realized customer needs are heading towards faster and smarter digital platforms that are channel agnostic. At Aegon Life, we will focus on enabling high level of customisation, offering features and benefits tailored according to customer needs. We are building a robust business model to sustain, engage and connect with today’s digital natives to serve them in the way they want to be served,” adds Gopalakrishnan.
New Logo of AEGON Life Insurance:
The new logo is finely balanced between Aegon’s original logo which exudes a solidity and trust with its sharp typeface and the word ‘Life’ with a rounded font to project an open and friendly nature. The word ‘Life’ has two purposes. One symbolises the contribution of insurance to a meaningful life and the other refers to the specific insurance category. The blue colour reflects vibrancy, energy and productivity.
About Aegon Life Insurance Company:
Aegon Life Insurance Company Ltd (formerly AEGON Religare Life Insurance Company Ltd) launched its pan-India operations in July, 2008 following a multi-channel distribution strategy with a vision to help people plan their life better. The fulfillment of this vision is based upon having a complete product suite, providing customised advice and enhancing the overall customer experience. The venture is dedicated to build a customer-centric business and provide a work environment that fosters excellence and innovation. It adopts a local approach with the power of global expertise. The company is headquartered in Mumbai, serving over 4 lakh customers across India with 95% claim settlement ratio. The agency channel comprises of over 9,600 advisors who are attached to over 59 branches spread across 46 cities in India.