Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd announced its financial results for 2016-17 and reported a net profit of Rs111 crore in its ninth year of operations. Going forward, the company is planning to tap the increasing digitization in Indian market to increase its presence, while working at the same time to increase penetration into the customer base of the three partner banks. In an interaction with Mint , Anuj Mathur, chief executive officer discussed why the industry is still grappling with persistency issues, its impact on profitability and the strategy to deal with it.
Edited excerpts:
What are your plans for this year, given that the last year was good?
