IndiaFirst Life Insurance crosses 1 lakh policies landmark
The company has achieved the fastest run rate amongst all life insurance companies at the start up phase.
By ET Online |
Mumbai: IndiaFirst Life Insurance, a joint venture between Bank of Baroda and Andhra Bank along with UK’s leading risk, wealth and investment company Legal & General, has announced that it has crossed the 1 lakh policies landmark in less than one year, the fastest by any private life insurer.
This was announced by P. Nandagopal, managing director & CEO, IndiaFirst Life Insurance.
The company has achieved the fastest run rate amongst all life insurance companies at the start up phase by crossing the 1 lakh policies landmark within just 9 months of its operations.
“We are indeed happy to receive such an encouraging response from our customers. The achievement of 1 lakh policies in just less than 9 months indicates the potential of our bancassurance model and the value of our product portfolio. We will intensify our efforts to introduce simple and value for money plans backed up by unparalleled service delivery,” said Dr. Nandagopal.
The company targets to collect Rs 700 crore through new business premium by the end of this fiscal year.
IndiaFirst claims to be the fastest to achieve Rs 100 crore in just 100 days of operations, Rs 200 crore in 4.5 months of operations, and over Rs 300 crore in under 9 months from inception.
Dr. Nandagopal said the company aims at taking its products and services closer to its customers. “As part of our overall expansion plan, we have activated all 4,500 bank branches (Bank of Baroda and Andhra Bank put together) to reach out to our customers across the country,” he said.
This was announced by P. Nandagopal, managing director & CEO, IndiaFirst Life Insurance.
The company has achieved the fastest run rate amongst all life insurance companies at the start up phase by crossing the 1 lakh policies landmark within just 9 months of its operations.
“We are indeed happy to receive such an encouraging response from our customers. The achievement of 1 lakh policies in just less than 9 months indicates the potential of our bancassurance model and the value of our product portfolio. We will intensify our efforts to introduce simple and value for money plans backed up by unparalleled service delivery,” said Dr. Nandagopal.
The company targets to collect Rs 700 crore through new business premium by the end of this fiscal year.
IndiaFirst claims to be the fastest to achieve Rs 100 crore in just 100 days of operations, Rs 200 crore in 4.5 months of operations, and over Rs 300 crore in under 9 months from inception.
Dr. Nandagopal said the company aims at taking its products and services closer to its customers. “As part of our overall expansion plan, we have activated all 4,500 bank branches (Bank of Baroda and Andhra Bank put together) to reach out to our customers across the country,” he said.
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