It plans to empanel 1,000 distributors by the end of the year.
The new general insurance player, Liberty Videocon General Insurance, expects to earn a premium collection of Rs 120 crore by the end of the calendar year. It has received approval from IRDA to launch products in the fire, engineering, and motor insurance space. The insurer plans to hire more 320 employees and empanel 1,000 distributors by the year end.
“The company plans to start its operation from 7 cities initially. It will create a wide network of corporate agents and also leverage bancassurance opportunities to ensure proper distribution of products,” said Roopam Asthana, CEO, Liberty Videocon General Insurance.
The company is waiting for regulator’s approval for launching personal accident cover and a health insurance product.