Hyderabad : AEGON Life insurance, pioneer of digital life insurance in India, highlighted the company’s outlook of 2019 and growth trajectory as a key protection player in the insurance sector. In addition, this event also marked the launch of their new digital only insurance product POS Grip – a guaranteed return insurance plan.

Rajeev Chugh, Chief Financial Officer, AEGON Life Insurance company said, “We are happy to announce the launch of ‘POS GRIP’. It 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 like to invest in fixed return instruments. It is easy to understand and 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.”

While speaking about their presence in Hyderabad Mr. Chugh said, “Hyderabad is a leading market for us and we are focused on creating a value proposition for our customers. Given Hyderabad’s rich culture, people there understand the concept of life insurance and the need for one to protect their loved ones. 76% of our customers have opted for term plans.”

He further adds, “More than 80% customers are between the age group 25-45 years, 8 out of 10 customers have chosen to protect their families at an early age. Women also have realized the need for life insurance. As per our data, more than 65% women customers opted for protection in Hyderabad. i.e. 6 out of 10 women in Hyderabad have taken a term plan from Aegon Life.”

“Lastly, Hyderabad as a city is rapidly adopting the online buying culture. Of the total policies bought online out of which 97% are protection. 9 out of 10 policies bought online are term. An unwavering commitment to markets like Hyderabad has enabled us to gain insights from the emerging customers and consistently innovate when creating new products.”

The relationship between AEGON Life and Hyderabad comes a long way. The insurer started its operations in the year 2008 and since then, it has expanded its footprint in Hyderabad and Telangana/Andhra Pradesh enabling customers to financially protect their family’s future.  As of now December 2018, AEGON Life services customers from more than 300 cities and towns across India. This is backed by a very strong digital presence that allows the company to establish a direct to customer dialogue. AEGON life is the pioneer in online term plans and 60% of their protection plans are online.

AEGON Life insurance recently launched second leg of their campaign ‘AEGON, toh Tension Gone’ through a TVC and signed Vicky Kaushal as their Brand ambassador. Through this, AEGON Life is urging customers to not procrastinate buying term insurance.