ICICI Prudential garners Rs 100 cr from rural life insurance
Private life insurer ICICI Prudential Life Insurance has garnered over Rs 100 crore business from its foray into rural markets in February 2007.
By PTI |
MMBAI: Private life insurer ICICI Prudential Life Insurance has garnered over Rs 100 crore business from its foray into rural markets in February 2007.
It has also sold over one million policies in rural India.
"ICICI Prudential launched the rural business channel and operations in February 2007 and has garnered over Rs 100 crore business since then," ICICI Prudential Life Insurance's Executive Director Bhargav Dasgupta told reporters here today.
"The company has built a strong network of offices in the five states and was in process of building up the network in another five states," Bhargav said.
ICICI Prudential had penetrated into the rural market in Andhra Pradesh, Kerala, Punjab, Gujarat and Rajasthan.
ICICI has developed multi-channel distribution network to increase interface with rural folks.
The company has opened 260 micro offices in tehsils and districts across key states and has appointed 20,000 advisors dedicated to the rural segment, besides tying up with leading Regional Rural Banks (RRBs), Micro Finance Institutions (MFIs) and NGOs.
To ensure the rural customers enjoy a high level of service, the company provides policy forms and documents in five regional languages -- Gurumukhi, Gujarati, Telugu, Malyalam and Hindi, and arranged for regional call centres.
It has also sold over one million policies in rural India.
"ICICI Prudential launched the rural business channel and operations in February 2007 and has garnered over Rs 100 crore business since then," ICICI Prudential Life Insurance's Executive Director Bhargav Dasgupta told reporters here today.
"The company has built a strong network of offices in the five states and was in process of building up the network in another five states," Bhargav said.
ICICI Prudential had penetrated into the rural market in Andhra Pradesh, Kerala, Punjab, Gujarat and Rajasthan.
ICICI has developed multi-channel distribution network to increase interface with rural folks.
The company has opened 260 micro offices in tehsils and districts across key states and has appointed 20,000 advisors dedicated to the rural segment, besides tying up with leading Regional Rural Banks (RRBs), Micro Finance Institutions (MFIs) and NGOs.
To ensure the rural customers enjoy a high level of service, the company provides policy forms and documents in five regional languages -- Gurumukhi, Gujarati, Telugu, Malyalam and Hindi, and arranged for regional call centres.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
