Om Kotak to market through banks, NBFCs

Kolkata: Om Kotak Mahindra Life Insurance Company is in talks with nationalised and private sector banks, non-banking financial companies (NBFCs) and entrepreneurs with huge databases for an alternative channel for marketing its products.

Chief marketing officer Treman Ahluwalia says his company has already tied up with a subsidiary of Karvy Consultants and with three multilevel marketing companies for this. He is in the city to launch the Kotak Preferred Term Plan.

We have entered into agreements with a number of automobile dealers of Maruti and Hyundai. We are looking at NBFCs who have a wide customer base. For the bancassurance model, we are talking with both public and private sector banks, says Ahluwalia.

The company, in the meantime, has decided to introduce a slew of products that will include a pension product, a unit-linked insurance scheme and a group gratuity scheme. Om Kotak is in the process of filing the details of the pension product to the Insurance Regulatory and Development Authority and it will be in the market in the next two to three months.