Birla Sun Life Insurance Company is planning to expand its product portfolio in retirement and health insurance segments in 2010-11, according to its Chief Financial Officer, Mr Mayank Bathwal.
“In the health segment, we will look at launching policies aimed at the unorganised sector and self employed persons, a segment vastly underserved as of now,” Mr Bathwal told media persons at a meeting here.
The health segment, currently contributing less than five per cent of the company's business, would be one of the fastest growing segment for the company in the future, he said.
In the retirement segment, he said, the company could look at launching products in tune with consumer demand in both the accumulation phase of the fund and its annuity component.
The company currently holds 3.6 per cent market share of the total life insurance industry.
Its loss account as on December 2009, had reduced by nearly 26 per cent over the same period last year to Rs 381 crore, he said.
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