ICICI Prudential Life gets recognition from ILO

NEW DELHI: Insurance major ICICI Prudential has received a grant from Geneva-based International Labour Organisations (ILO) Micro Insurance Innovation Facility, a partnership between the ILO and the Bill and Melinda Gates Foundation, for its initiatives for tea tribes in Assam. The exact quantum of the grant is not known.

ICICI Prudential is the first life insurance company in India that has been selected by ILO for the grant support. It has been shortlisted from over 120 companies across 40 countries.

As per the strategic tie-up, ILO will support the company to provide insurance solutions to over 1.2 million tea plantation workers of the state, over the next 2-3 years.

ICICI Prudential Life senior vice president-head of sales Rishi Srivastava said, "With the help of ILO, we will be able to provide protection to the tea plantation workers of Assam in a financially sustainable manner."