The Swiss Life Network constantly monitors the geographical scope of its activities. The strategy of being represented "where our clients need us" is illustrated by the following example of partnering with Kotak Life in India. Find out more about our expansion strategy.

Prior to the opening of the market in 2000, the state-owned company Life Insurance Corp. of India (LIC) held a monopoly position in the local life insurance market. Thereafter, a number of new life insurers were established, mainly joint ventures between local companies and foreign life insurers (with the latter holding a minority stake of maximum 26%).

Our business case showed that in mid-2002, at least 25% of our clients had already established activities in India. With a market growth of around 20% annually and a rapid development of new products, it was clear that clients as well as the entire Network would benefit from a partnership in this country.

Based on our research, we searched for a company with the following qualities:

• A solid, stable, reliable and competent local life insurer
• Offering a full range of typical employee benefits with competitive rates
• Providing fast, efficient and effective services toward clients
• Contacts experienced in life insurance, with access to modern communication tools and skilled in English
• Motivated, experienced and stable sales force
• Representation in the economically most important regions
• Good working relationship with brokers and consultants

After preliminary talks in the market and in-depth consultations with experts, we chose to focus on Kotak Life (at the time named OM Kotak Mahindra) as a favored potential partner.

Kotak Life is a dynamic UK / IN joint venture, with a profitable bank as a local parent company.

After the initial exchange of business information, meetings were held in Zurich and in Mumbai. Due to the complex nature of our business, negotiations with a new Network Partner usually take between 8 and 12 months.

In the case of Kotak Life, the negotiations resulted in a signed agreement, which became effective June 1, 2003.

In order to ensure an effective and efficient business relationship, in-depth training sessions with sales, admin and actuarial staff were held. Kotak Life presented its status as new Network Partner in presentations at the Swiss Life Network Conference as well as regional sales conferences. Articles in our Newsletter were published, and mutual client meetings were held.

"As the Indian Insurance Industry evolves, Kotak Life also aspires for a spiralling growth to be amongst the top players in the market. Gradually we expect our business model to mature through strategic alliances with like-minded organisations. We sincerely believe in our mutually beneficial association with the Swiss Life Network", says Mr. Gaurang Shah, CEO of Kotak Life.

Sandeep Shrikande, head of group business, presented Kotak Life to the participants of the Swiss Life Network Conference 2004.

The Swiss Life Network is proud to have Kotak Life on board as an exclusive partner in one of the most dynamic markets worldwide.