Bharti AXA Life Launches First Online Plan 'iProtect'

Private insurer Bharti AXA Life Insurance launched its first online term insurance product, Bharti AXA Life iProtect.

"Recent studies show that the internet penetration in India has doubled in the last five years and is expected to triple by 2015 to over 250 million users. E-commerce in financial services has grown over 30 per cent year-on-year for the last 3 years, insurance being a significant part of it," Bharti AXA Life CEO Sandeep Ghosh said in a release here.

Online is going to form an important part of Bharti AXA Life's distribution strategy, the release said, adding that consumer preference has played a pivotal role in the company's foray into this new channel.