Future Generali, the insurance joint venture between Future Group of India and Generali Group of Italy, has launch of its first Unit Linked Insurance Plan called Future Sanjeevani.
"By introducing insurance products to customers who are visiting shopping malls and modern retail outlets we have been able to acquire a significant number of individuals who had never bought an insurance product before," Future Group CEO Kishore Biyani said.
While we will continue to expand the traditional channels of insurance distribution like agency network, branch network, alternate and corporate network, Mallassurance will help us create a market among the younger generation of customers who till now were not being attracted by existing insurance players, he added.
Generali Group CEO Sergio Balbinot said: "We are pleased with a positive response by the market, which validates Future Generali's vision to serve its customers also exploiting alternative models. When we joined forces with the Future Group, Kishore Biyani and myself agreed that innovation would have played a fundamental role in the execution of our Indian strategy. I am now even more convinced that product and distribution Innovation as proved by Mallassurance and the products specifically dedicated to this channel will increasingly become a source of competitive advantage for our presence in India."
Future Sanjeevani offers comprehensive features like coverage up to 99 years, premium payment option of Single Premium, 5, 10, 15 and whole of life. It also has four riders and additional loyalty units. Future Generali India Life Insurance Company intends to distribute this product through their multi channel distribution network and in all the 43 branches across 31 locations all over India. |
