ING Life, India
Encyclopedia
ING Life India or ING Vysya Life Insurance Company is a life insurance
company based in India
; it is a part of the ING Group
. ING Group entered the private life insurance industry in India in September 2001. ING Life, India is a joint venture between ING Group and Exide Industries.
, ING Life, India is staffed by over 6,000 employees and services more than 1.2 million customers.
The Bancassurance business within ING Life is one of the fastest growing distribution channels. The company has ING Vysya Bank as its partner, and distributes its products through over 400 bank branches.
The Alternate Channels includes referral banks, corporate agents, brokers and SMINCE.
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
company based in India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
; it is a part of the ING Group
ING Group
The ING Group is a global financial institution offering retail banking, direct banking, commercial banking, investment banking, asset management, and insurance services. ING is the Dutch member of the Inter-Alpha Group of Banks, a cooperative consortium of 11 prominent European banks...
. ING Group entered the private life insurance industry in India in September 2001. ING Life, India is a joint venture between ING Group and Exide Industries.
Headquarters and employee strength
Headquartered at BangaloreBangalore
Bengaluru , formerly called Bengaluru is the capital of the Indian state of Karnataka. Bangalore is nicknamed the Garden City and was once called a pensioner's paradise. Located on the Deccan Plateau in the south-eastern part of Karnataka, Bangalore is India's third most populous city and...
, ING Life, India is staffed by over 6,000 employees and services more than 1.2 million customers.
Distribution network
ING Life has a pan-Indian network, and distributes its products through three main channels, the Tied Agency Force, Bancassurance and the Alternate Channel. The Tied Agency force consists of over 35,000 ING Life Advisors agents, spread across the country. The company has branches in over 195 cities, and 366 sales teams across India.The Bancassurance business within ING Life is one of the fastest growing distribution channels. The company has ING Vysya Bank as its partner, and distributes its products through over 400 bank branches.
The Alternate Channels includes referral banks, corporate agents, brokers and SMINCE.