Reliance Life Insurance introduces new distribution channel - Life Plaza

Reliance Life Insurance Company (RLIC), part of Reliance Capital Limited, on Tuesday introduced a new distribution channel -- Life Plaza -- a first-of-its-kind sales and service initiative by any insurer in India.

RLIC is the first company in India to set up a structured need-based in-branch sales platform in the form of a ‘Life Plaza’, which aims at creating awareness about life insurance and fulfilling the needs of prospective customers through financial planning and its array of products and services.

The introduction of Life Plaza was announced by Mr. Malay Ghosh, President and Executive Director, Reliance Life Insurance, here today.

“The main objective of our new distribution format is to generate greater awareness about life insurance in and around different locations where these Life Plazas will operate and create a pull for life insurance products. Need fulfillment of customers at the venue through our products and services is the ultimate goal of Life Plaza,” said Mr. Ghosh.

Inspired by best practices of Nippon Life, Reliance Life Plaza would promote need-based sales, fill service gaps and also offer financial and value-added services such as tax and financial planning, Aadhar card registration, pan card generation, health check-ups and nutrition counseling.

All Life Plazas will be managed by RLIC employees, who will handle customers’ queries and process the documentation instantly at the venue, with a view to tapping new customers and also providing service to existing RLIC policyholders.