HDFC Life plans to double online sales
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HDFC Standard Life has said it is aiming to double online sales in the current fiscal. Established in 2000, the company is a joint venture between Housing Development Finance Corporation Ltd. and Standard Life plc.
“We are strong in online sales space, and have a 30 per cent share in a market estimated between Rs.250 crore and Rs.300 crore. We are looking at doubling our online business in 2014-15,” HDFC Standard Life Executive Vice-President (Marketing, Digital and e-commerce) Sanjay Tripathy said here on Monday.
Encouraged by the success of online term policy, the company has launched a savings product that can be bought only from the online platform. “This is the only savings product in the industry that does not have any charges except mortality and fund management fee,” he said.
“The fund will invest 100 per cent of the premium without any charges, and this has been done to bring back the confidence of the ULIP consumers with a true product,” he explained. The charges which have been done away with are premium allocation, policy administration and policy discontinuation.
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