The Tata AIG Life Insurance Company Ltd said on Thursday that the company will be recruiting 2,500 employees over a period of three years. The company has also unveiled a new business strategy for the next three years, christened as operation quantum leap. Mr Ian J. Watts, managing director, Tata AIG Life said, "We have spent the last three-and-a-half years gaining a deep understanding of the market and the consumer." Tata AIG Life is planning to increase resources across the board over the next three years. 

In addition to substantially increasing its equity capital base from the present level of Rs 276 crores, Tata AIG Life will take its employee strength to over 3,000 from its present level of 800. Further, its agency channel comprising 25,000 personal financial advisors will be increased by three-fold to over 1,00,000. The company's alternate channels of distribution, which include corporate agents, brokers, bank assurance, rural and direct marketing, are targeting a twofold increase in partners to over 600 from the present levels of around 200. 

The company is planning to expand its presence to 60 cities from its present presence in 24 cities with 45 branches and sales offices. At present, Tata holds 74 per cent in Tata AIG Life and the rest is with the American International Group or AIG. The company is now eyeing the existing clients to expand its business with innovative products. "We see tremendous opportunity in innovative products combined with world-class services," Mr Watts added.