IndiaFirst Life acknowledged with Social Inclusion Award 2017 by Fintelekt

Posted by: at 7/28/2017 02:02:00 am
IndiaFirst Life acknowledged with Social Inclusion Award 2017 by Fintelekt

 
Recognisedits role in improving insurance penetration in India’s underinsured belts
 
Mumbai, July28, 2017: IndiaFirst Life Insurance has been recognised with the Social Inclusion Award 2017 by Fintelekt Insurance Awards, at the 7th edition of The Indian Insurance Awards, held in Mumbai.

Commenting on the honour, RM Vishakha, Managing Director and CEO, IndiaFirst Life, said, “We are delighted to receive this award and would like to thank Fintelekt for recognising IndiaFirst Life Insurance’s initiatives around social inclusion. Technology has enabled issuance and servicing of small value policies, that provides access to an underserved market segment. This also enables alignment with the government’s vision of financial inclusion, of which insurance is an important facet.”

IndiaFirst Life has covered nearly 2.4 million lives under the (PMJJBY)
Pradhan Mantri Jeevan Jyoti Yojana scheme and has supported more than 8000 families by settling claims worth Rs.161 crores, in the last two years.Through its pan-India presence via Common Service Centers (CSCs), over 2000 regional rural bank branches and KGFS centres have been set up in Tamil Nadu.IndiaFirst Life also set out towards the challenge of improving insurance penetration in remote geographies, with the primary aim of offering a structured platform that drives socially-inclusive and long-term development through community participation.

IndiaFirst Life endeavours to improve penetration and awareness of social sector schemes in rural and under insured areas of the country.This is a means of pushing for self-sustenance together with inclusive development for all, in absence of social security systems, which stands acknowledged with this recognition.

 About Fintelekt Insurance Awards 
The Fintelekt Insurance Awards measure and acknowledge the achievements of the insurance industry in India and have become the undisputed and credible mechanism to rank industry players in a comprehensive and fair manner. For more information, please visit www.fintelekt.com/awards.

About IndiaFirst Life Insurance 

Headquartered in Mumbai, IndiaFirst Life Insurance, with a paid-up share capital of INR 625 crore, is one of the country's youngest life insurance companies. It is promoted by two of India's largest public sector banks - Bank of Baroda and Andhra Bank along with UK's leading risk, wealth and investment company Legal & General. Bank of Baroda holds a 44 percent stake in IndiaFirst, while Andhra Bank and Legal & General hold a 30 percent and 26 percent stake respectively. IndiaFirst believes it can differentiate itself through simple, easy to understand products that are fairly priced and efficiently serviced. Today, IndiaFirst Life is present in over 1,000 cities and towns across the country through 10,000+ points of sale. The company has garnered over INR 10,858 crore of assets under management as on March31, 2017. For details please visit: www.indiafirstlife.com 


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