Tuesday, December 27 2005 16:13 Hrs (IST) - World Time -

Bangalore: ING Vysya Life would infuse Rs 100 crore funds next year, its Managing Director and CEO Frank Koster said today (Dec 27, 2005).

Koster said the private insurance firm injected a capital of Rs 50 crore in October expanding its base to Rs 440 crore.

The company, which started operations in 2001, in fact, is looking to pump in Rs 100 crore every year, he said, adding, the break-even is expected in the next seven to ten years.

The company today unveiled the blogging portal www.pickuradvisor.com, which it said enables customers interact with top life insurance advisors online.

The customers can get answers to their insurance queries and engage in a conversation with their chosen advisor through a private blog that the customer and the advisor start together on the site, according to Koster.

He said the portal, targeted at new-age insurance customers, is a pilot project for ING globally and has been funded by a grant from the Amsterdam-based company's global e-business project.

"Once tested successfully in India, ING wants to take the service to other markets across its 50 countries", Koster said.

The company's premium income expanded by 318 per cent in the fiscal year ended March 2005. ING Vysya Life is ranked eight in the list of private sector life insurance companies in India.