Aegon Life Insurance Company, which expected to achieve breakeven in 10 years (around FY19), will see that getting delayed by two to three years, Rajeev Chugh, Chief Financial Officer of the company, said.
Last August, the company shifted its strategy from a multi-channel presence to a more focussed digital one.
A fallout of this was that it exited the agency channel (except for renewal of existing policies).
The number of agents is now down to about 4,000 from about 6,000 then.
The second pillar of the strategy was to have a direct-to-customer engagement with relationship managers appointed for the purpose.
