Bandhan Life Insurance, formerly Aegon Life, is combining a data-driven platform, multi-channel distribution and `simple and easy to understand’ products for growth.

Aegon Life was acquired in February by Bandhan Financial Holdings, a promoter entity of Bandhan Bank and was rebranded Bandhan Life.

Speaking to The Telegraph, Satishwar B, MD & CEO, Bandhan Life said it is expecting a 100-200 per cent jump in new business premium, albeit on a low base.

It is set to add 1,000 people in its frontline sales team which should be completed by September.

Besides bancassurance, the company is looking at insurance broking firms and the direct channel route to tap customers.

``Having a multi-channel and high growth business is what we are envisaging. We expect a promising future for Bandhan Life in an high growth environment’’.

Launching products across all categories is another lever to growth. ``We believe that the potential is very high in annuity and that will be one of our focus areas where we would capture some market share. At the same time, we are also looking at an unit linked product which has a higher sum assured,’’ the Bandhan Life chief said.

It is also planning to rejig some of the existing products and launch a non-par product. ``When it comes to products, the philosophy that we are adopting is to keep it as simple as possible and not to complicate the product structure. The objective is to make it easy to understand, easy to transact and very easy to communicate from the partner perspective,’’ Satishwar said.