IDBI Fortis Life Insurance is a recently launched joint-venture of IDBI Bank Ltd., India’s premier development and commercial bank, Federal Bank, one of India’s leading private sector banks and Fortis, Europe’s banking and insurance giant. The Fortis Group is headquartered in Belgium and the Netherlands.

Speaking to media on the event of the launch, Mr Marc Schiltz, First Secretary (Trade & Investments), Royal Embassy of Belgium, said: ‘Fortis’ is a financial powerhouse in Europe and IDBI Fortis Life Insurance marks their entry in India. Like in Belgium, Fortis seems deeply committed to its relationship with India and this is evident in the innovative products that they have launched here. Wealthsurance is one such product that helps consumers create wealth with protection. With growing uncertainties, Wealthsurance is truly the new mantra for investing.’

Mr G.V. Nageswara Rao, MD & CEO, IDBI Fortis Life Insurance, said: “WealthsuranceTM is a unique combination that aims to provide people with protected growth. The product is designed to ensure that the hard-earned money that is invested is not susceptible to unforeseen circumstances. The plan has a multitude of investment options, tailor-made to suit the changing Indian consumer today,”

WealthsuranceTM is a first of its kind combination of comprehensive investment choices, protected by powerful insurance options, all presented with a reasonable charge structure, making it a one-stop solution to a customer’s wealth building plans. WealthsuranceTM offers investment choices such as Guaranteed Return Fund, Equity Funds, Debt Funds etc. ensuring that the customer would find all his investment requirements satisfied with this one product.

Mr Filip Coremans, CFO, IDBI Fortis Life Insurance, said: “It is exciting for Fortis to be in one of the fastest growing insurance markets in the world. The focus is now to expand our tied agency network to cater to this huge country with so many different languages and dialects, in addition to our wide bancassurance networks with IDBI Bank and Federal Bank.”

Mr Murali Iyer, National Head – Agency and Alliances, IDBI Fortis Life Insurance, said: ”Gurgaon is one of the fastest growing cities in India with a multitude of job opportunities and an enterprising populace. This, coupled with the increasing disposable incomes, offers a tremendous potential here for services and products that we offer.’

Source: Press release distribution via India PRwire

About IDBI Fortis Life Insurance Co Ltd

IDBI Fortis Life Insurance Co Ltd, is a joint venture between three leading financial conglomerates – India’s premier development and commercial bank, IDBI Bank, one of India’s leading private sector banks, Federal Bank and Europe’s banking and insurance giant, Fortis, each of which enjoys a significant status in their respective business segments. In this venture, IDBI Bank owns 48% equity while Federal Bank and Fortis own 26% equity each. IDBI Fortis launched its first set of products across India in March 2008, after receiving the requisite approvals from the Insurance Regulatory Development Authority (IRDA). The company offers its services through a vast nationwide network across the branches of IDBI Bank and Federal Bank in addition to a sizeable network of advisors and partners. At IDBI Fortis, we endeavor to deliver products that provide value and convenience to the customer. Through a continuous process of innovation in product and service delivery we intend to deliver world-class wealth management, protection and retirement solutions to Indian customers. Do visit www.idbifortis.com to know more.

About the sponsors of IDBI Fortis Life Insurance Co Ltd

IDBIBank Ltd. continues to be, since its inception, India’s premier industrial development bank. Created in 1956 to support India’s industrial backbone, IDBI Bank has since evolved into a powerhouse of industrial and retail finance.Today, it is amongst India’s foremost commercial banks, with a wide range of innovative products and services, servingretail andcorporate customers in all corners of the country from over 490 branches and more than 600 ATMs.The Bank offers its customers an extensive range of diversified services including project financing, term lending, working capital facilities, lease finance, venture capital, loan syndication, corporate advisory services and legal and technical advisory services to its corporate clients as well as mortgages and personal loans to its retail clients. As part of its development activities, IDBI Bank has been instrumental in sponsoring the development of key institutions involved in India’s financial sector – such as the Securities and Exchange Board of India (SEBI), National Stock Exchange of India Limited (NSE) and National Securities Depository Ltd. Please visitwww.idbi.com to know more.

Federal Bank is one of India’s leading private sector banks, with a dominant presence in the state of Kerala. It has a strong network of over 600 branches and 500 ATMs spread across India. The bank provides over four million retail customers with a wide variety of financial products. Federal Bank is one of the first large Indian banks to have an entirely automated and interconnected branch network. They operate on the core banking platform and are RTGS/ NEFT enabled through which the Bank offers state-of-the-art technology enabled products and services. In addition to interconnected branches and ATMs, the Bank has a wide range of services like Internet Banking, Mobile Banking, Tele Banking, Any Where Banking, debit cards, co-branded credit cards, online bill payment and call centre facilities to offer round the clock banking convenience to its customers. The Bank has been a pioneer in providing innovative technological solutions to its customers and the Bank has won several awards and recommendations. Please visit www.federalbank.co.in to know more.

Fortis, a European financial services provider engaged in banking and insurance with a presence in over 50 countries, offers its personal, business and institutional customers a comprehensive package of products and services through its own channels, in collaboration with intermediaries and through other distribution partners. With a market capitalisation of over EUR 40 billion, Fortis ranks among the 20 largest financial institutions in Europe. Fortis’ sound solvency position and dedicated, professional workforce of over 80,000, enables it to combine global strength with local flexibility to provide its clients with optimum support and service. Please visitwww.fortis.com to know more.

Mr Kishore Biyani, Group CEO, Future Group said: “By introducing insurance products to customers who are visiting shopping malls and modern retail outlets we have been able to acquire a significant number of individuals who had never bought an insurance product before. While we will continue to expand the traditional channels of insurance distribution like agency network, branch network, alternate and corporate network, Mallassurance™ will help us create a market among the younger generation of customers who till now were not being attracted by existing insurance players.”

Future Sanjeevani, which is in line with the Future Group’s and the Generali Group’s philosophy of offering maximum value to each customer, is aimed at addressing the needs of the Indian customer at various stages of their lives like the life-giving herb - Sanjeevani

Mr. Sergio Balbinot, CEO Generali Group, added: “We are very pleased with such a positive response by the market, which validates Future Generali’s vision to serve its customers also exploiting alternative models. When we joined forces with the Future Group, Kishore Biyani and myself agreed that innovation would have played a fundamental role in the execution of our Indian strategy. I am now even more convinced that product and distribution Innovation as proved by Mallassurance and the products specifically dedicated to this channel will increasingly become a source of competitive advantage for our presence in India.”

Future Sanjeevani offers comprehensive features like coverage up to 99 years, premium payment option of Single Premium, 5,10,15 & whole of Life. It also has four Optional Riders & additional loyalty units. Future Generali India Life Insurance Company intends to distribute this product through their multi channel distribution network and in all the 43 branches across 31 locations all over India.

Future Generali has introduced an innovative channel of providing Total Insurance Solutions through Mallassurance™ in May 2008, effectively employing the Future Group’s impressive retail presence like Big Bazaar, Food Bazaar, Pantaloon, E-Zone, Home Town and others providing yet another value addition to the lives of customers. Through Mallassurance™, Future Generali offers numerous Insurance products to the millions of customers who have made the Future Group’s stores a part of their lives.

The customer, the end user in any innovation, has adopted the Mallassurance™, wholeheartedly, which is evident from the resounding success of the channel. By selling simple, over-the-counter Insurance products like Personal Accident, Home Protection plans and Simple Endowment, Future Generali’s Mallassurance™ connected with the customer like none before.

Source: Press release distribution via India PRwire

About the Company:

Future Generali is a joint venture between India-based Future Group and Italy-based Generali Group.

The Generali Group is one of the most significant participants in the global insurance and financial products market. It is ranked among the world’s top five insurance companies. The Group’s Parent and principal operating Company is Assicurazioni Generali, market leader in Italy, founded in 1831 in Trieste. Characterised from the outset by a strong international outlook and now present in 40 countries, Assicurazioni Generali has consolidated its position among the world’s leading insurance operators. In the last decade, the Group has widened its product offerings from only insurance to include the entire range of financial and real estate services, asset management.

Future Group is India’s leading consumer-focused business group with presence in retail, consumer finance, capital and investment advisory, insurance, media, brand development and logistics. The group’s retail presence extends to over 61 cities and 65 rural locations across the country.

Future Generali is present in India in both the Life and Non-Life businesses as Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd.

Commenting on the tie-up, Mr. S. K. Singhvi, Chairman, Rajasthan Gramin Bank said, “The tie-up with ITGI will help our customers access a full range of insurance products. Since we will be offering a wide range of financial products under one roof, it will also enable us to strengthen our relationships with existing customers, as well as acquire new customers.”

Speaking about the tie-up, Mr. N K Kedia, Director Marketing, IFFCO- Tokio General Insurance Co. Ltd. said, “The tie-up will help us leverage the widespread network and customer base of Rajasthan Gramin Bank. This partnership will bring quality products, service standards and business practices to the RGB customers, and will also help us in expanding our footprint in the state of Rajasthan.”

Today, ITGI has an enviable bancassurance track record along with one of the largest spreads, which covers the length and breadth of the country. The bancassurance model of ITGI successfully sells all types of insurance products that include variety of exclusive rural products.

Source: Press release distribution via India PRwire

About IFFCO TOKIO General Insurance Co. Ltd.

IFFCO TOKIO General Insurance Company (ITGI) is a joint venture promoted by Indian Farmers Fertiliser Co-operative (IFFCO) and its associates and The Tokio Marine and Nichido Fire, the largest insurance company in Japan. The Indian promoter’s contribution is 74 percent, while Tokio Marine has contributed 26 percent through group company Tokio Marine Asia Pte Ltd.

ITGI has a widespread network more than 170 offices across the country and many more in the pipeline for the coming year. The objective behind opening new offices is to cover the enormous spread of the country and reach the masses.

Through the webchat service, consumers can inform the company about change in their address and contact details, seek information on Net Asset Value (NAV)/ fund allocation, premium payment options, customer service documents (RPN, RPR, Unit statement), etc. Webchat also enables consumers to resolve queries relating to their policy and also lodge any complaints, they may have.

Commenting on the new service initiative, Ms. Anita Pai, Executive Vice President, ICICI Prudential Life Insurance said,” Based on our philosophy of customer first we have continued to introduce innovative service offerings to enhance consumer experience with us. The launch of webchat is our yet another initiative towards our commitment of providing a seamless service delivery excellence to our customers. We hope that this service will bring increased convenience to the customer by empowering him to dialogue with us on his policy related queries from any part of the world”.

ICICI Prudential Life has also introduced various technology enabled initiatives that enable consumers to transact with the company through mobile and internet. Some of these initiatives include, premium payment through mobile (mChek), purchase, updation and switching of policies online, premium receipts, notices, statements, policy details and NAV being made available online for enhanced customer convenience.

Source: Press release distribution via India PRwire

About ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential plc. It was one of the first players to commence operations when the insurance industry was opened to the private sector in 2000. For the year ended March 31, 2008, the company garnered Rs 7,946 crore of retail weighted + group new business premiums and wrote nearly 3 million policies. The company has a network of 1,956 offices, 291,000 advisors; as well as 21 bank partners. It is also the only life insurer in India to be assigned AAA (Ind) credit rating from Fitch Ratings. For the past seven years, ICICI Prudential has retained its position as the No. 1 private life insurer in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life. To know more about the company, please visit www.iciciprulife.com

Speaking on the occasion, Shri Ramadoss said; “The Service Centre will help in speedy settlement of claims which is a major step towards customer satisfaction”. The Service Centre will initially handle motor claims for Offices in Mumbai. In due course the Service Centre will take care of other back office operations like policy issuance, Third Party claims etc.

‘Oriental’ is in the process of reorganizing its operations to become competitive in the liberalized insurance market under its ‘Nayee Disha’ programme. The Service Centre is one of the initiatives in this programme. Service Centres are already functioning at Hyderabad, Jaipur and Patna.

Service Centre, being a specialized office, will be able to settle claims faster and will also help in developing expertise in respect of Underwriting and Claims.

Source: Press release distribution via India PRwire

Mr.Vikram Mehmi, President & CEO, Birla Sun Life Insurance remarked “

The Platinum Plus product design is unique and we are once again proud to lead the way in product innovation. The initial response to this plan has been excellent.”

Product Details:

Birla Sun Life Insurance Platinum Plus is a short pay, medium-term unit linked insurance plan, which aims to reduce the investment risk and optimize the returns. The plan offers Guaranteed Maturity Unit Price, first of its kind in the Indian insurance industry.

With the Platinum Plus, not only will our policyholders participate in the equity market but they will also enjoy a Guaranteed Maturity Unit Price. The maximum unit price recorded on the 15th of each calendar month till June 15, 2015.

Hence, we guarantee that the unit price will not lose value. In addition to this we also guarantee the market gains recorded on a Reset date* will be locked-in to be encashed at maturity. (NAV guaranteed, given the current ups & downs of the equity market, which gives the policyholders the potential to earn market upside with downside protection)

Special features:

· Guaranteed Maturity Unit Price

· Highest unit price recorded on the 88 Reset Dates is guaranteed at Maturity

· New Fund Offering – Platinum Plus Fund I

· 10-year benefit period with 3 years premium paying term

· Option to reduce annual premium in the 2nd & 3rd year subject to minimum of Rs 1,00,000

· Partial withdrawals available after three policy years in case of any financial emergency

· Full liquidity without any penalty after three years

*Reset Dates are the 15th of every calendar month (or if not open for business, the next business day) till June 2015

Platinum Plus Fund 1

The main objective of Platinum Plus Fund I, is to optimize the participation in an actively managed well-diversified equity portfolio of fundamentally strong blue chip companies while using the debt instruments and derivatives to lock-in capital appreciations. This fund is for the people who are not very comfortable with the volatility in the equity market but yet want to participate in the equity market to earn good returns. With Platinum Plus dynamic asset allocation strategy, not only will our policyholders participate in the equity market but they will also enjoy the benefit of guarantee.

The fund will invest in an optimum mix of equities & fixed income instruments. The fund may have upto 100% exposure in both equities & fixed income assets while investment in money market instruments will be capped at 40%. Allocation between debt & equity would be dynamically managed. The equity investment strategy would revolve around building and actively managing a well-diversified equity portfolio of value & growth driven fundamentally strong blue-chip companies by following a research-focused investment approach. In case of a market decline, the assets may be reallocated more heavily in debt Instruments and money market funds. As a result, the future returns of Platinum Plus Fund I may be lower than those of the equity market.

Disclaimers:

§ Insurance is the subject matter of the solicitation

§ The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the insured is responsible for his or her decision.

§ Birla Sun Life is only the name of the Insurance Company and Birla Sun Life Insurance Platinum Plus, Assure & Platinum Plus Fund I are only the names of the company, policy and the investment Funds respectively and do not in any way indicate the quality of the Policy, Investment Fund or their future prospects or returns.

§ Tax benefits are subject to changes in the tax laws.

§ For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale.

§ UIN no. 109L037V01

Source: Press release distribution via India PRwire

Birla Sun Life Insurance Company Limited is a joint venture between The Aditya Birla Group, one of the largest business houses in India and Sun Life Financial Inc., a leading international financial services organization. The local knowledge of the Aditya Birla Group combined with the expertise of Sun Life Financial Inc., offers a formidable protection for your future.

Birla Sun Life Insurance (BSLI) has completed 7 successful years of operations & has contributed significantly to the growth and development of the life insurance industry in India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. It was the first player in the industry to sell its policies through the Bancassurance route and through the Internet. It was the first private sector player to introduce a pure Term plan in the Indian market. This was supported by sales practices, which brought a degree of transparency that was entirely new to the market. The process of getting sales illustrations signed by customers, offering a free look period on all policies, which are now industry standards were introduced by BSLI. Being a customer centric company, BSLI has invested heavily in technology to build world class processing capabilities. BSLI has covered more than 2 million lives since inception and its customer base is spread across more than 1500 towns and cities in India. All this has assisted the company in cementing its place amongst the leaders in the industry in terms of new business premium income. The company has a capital base of Rs. 1274.5 crore, as on March 31, 2008.

Additional information is available at www.birlasunlife.com

The Aditya Birla Group is a US $28 billion conglomerate with a market capitalization of US $31.5 billion (as on March 31, 2008) and is one of the largest business houses in India. It enjoys a leadership position in all the sectors in which it operates. It is anchored by a force of 100,000 employees, belonging to 25 nationalities. Its operations span 20 countries across six continents and is reckoned as India's first multinational corporation. Headquartered in Mumbai, India, over 50 per cent of the Group’s revenues flow from its overseas operations. The Group nurtures a work culture where success is built on learning and innovation.

The Aditya Birla Group was recently been adjudged “The Best Employer in India and among the top 20 in Asia” by the Hewitt, Economic Times and Wall Street Journal Study 2007.

Additional information is available at www.adityabirla.com

About Sun Life Financial Inc.

Sun Life Financial Inc. is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Tracing its roots back to 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31st, 2008, the Sun Life Financial group of companies had total assets under management of US$ 404.7 billion. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under ticker symbol "SLF".

Additional information can be found at: www.sunlife.com

This insurance application engine will allow customers to get the benefit of comparison live, without any hassles. The new functionality introduced has already created a lot of buzz among the insurance seekers and insurers in the market

How does it work?

An applicant applies online on Bimadeals.com and system executes the application which is tied to a number. As part of the application, prerecorded audio file explains the options available to the insurance seeker. The caller is given the choice to select from four different insurers with whom he wants to speak first.

Whats in it for me?

The platform enables insurers to get connected to the insurance seeker when he/she is actually looking to buy an insurance. That ways Biamdeals.com keep up the promise to provide insurers with an interested applicants.

Bimadeals.com strongly believes that the platform launched will be an answer for the problems of insurers and it will also improve the customer experience.

You can see the functionality live at – http://www.bimadeals.com/health-insurance-call.php

Source: Press release distribution via India PRwire

BimaDeals.com, provides a comparative platformto insurance seekers and insurers for Life and Non-Life Insurance. BimaDeals.com asks applicants to fill out a simple form asking their profile and requirements. Once they post their request,a comprehensive engine evaluates the applicant’s requirements against the sourcing criteria of BimaDeals partners. It thus provides Insurance providers with leads, which are of the exact profile that the Insurance companies/agents want to source. The number ofinsurance seekersgetting registered on the website is increasing with a pace of more than 100%! . Sister concern- Deal4loans.com is an established online lead aggregator for personal financial services.

Mr.Vikram Mehmi, President & CEO, Birla Sun Life Insurance remarked “ The Platinum Plus product design is unique and we are once again proud to lead the way in product innovation. The initial response to this plan has been excellent.”

Product Details:

Birla Sun Life Insurance Platinum Plus is a short pay, medium-term unit linked insurance plan, which aims to reduce the investment risk and optimize the returns. The plan offers Guaranteed Maturity Unit Price, first of its kind in the Indian insurance industry.

With the Platinum Plus, not only will our policyholders participate in the equity market but they will also enjoy a Guaranteed Maturity Unit Price. The maximum unit price recorded on the 15th of each calendar month till June 15, 2015.

Hence, we guarantee that the unit price will not lose value. In addition to this we also guarantee the market gains recorded on a Reset date* will be locked-in to be encashed at maturity. (NAV guaranteed, given the current ups & downs of the equity market, which gives the policyholders the potential to earn market upside with downside protection)

Special features:

· Guaranteed Maturity Unit Price

· Highest unit price recorded on the 88 Reset Dates is guaranteed at Maturity

· New Fund Offering – Platinum Plus Fund I

· 10-year benefit period with 3 years premium paying term

· Option to reduce annual premium in the 2nd & 3rd year subject to minimum of Rs 1,00,000

· Partial withdrawals available after three policy years in case of any financial emergency

· Full liquidity without any penalty after three years

*Reset Dates are the 15th of every calendar month (or if not open for business, the next business day) till June 2015

Platinum Plus Fund 1

The main objective of Platinum Plus Fund I, is to optimize the participation in an actively managed well-diversified equity portfolio of fundamentally strong blue chip companies while using the debt instruments and derivatives to lock-in capital appreciations. This fund is for the people who are not very comfortable with the volatility in the equity market but yet want to participate in the equity market to earn good returns. With Platinum Plus dynamic asset allocation strategy, not only will our policyholders participate in the equity market but they will also enjoy the benefit of guarantee.

The fund will invest in an optimum mix of equities & fixed income instruments. The fund may have upto 100% exposure in both equities & fixed income assets while investment in money market instruments will be capped at 40%. Allocation between debt & equity would be dynamically managed. The equity investment strategy would revolve around building and actively managing a well-diversified equity portfolio of value & growth driven fundamentally strong blue-chip companies by following a research-focused investment approach. In case of a market decline, the assets may be reallocated more heavily in debt Instruments and money market funds. As a result, the future returns of Platinum Plus Fund I may be lower than those of the equity market.

Source: Press release distribution via India PRwire

Birla Sun Life Insurance Company Limited is a joint venture between The Aditya Birla Group, one of the largest business houses in India and Sun Life Financial Inc., a leading international financial services organization. The local knowledge of the Aditya Birla Group combined with the expertise of Sun Life Financial Inc., offers a formidable protection for your future.

Birla Sun Life Insurance (BSLI) has completed 7 successful years of operations & has contributed significantly to the growth and development of the life insurance industry in India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. It was the first player in the industry to sell its policies through the Bancassurance route and through the Internet. It was the first private sector player to introduce a pure Term plan in the Indian market. This was supported by sales practices, which brought a degree of transparency that was entirely new to the market. The process of getting sales illustrations signed by customers, offering a free look period on all policies, which are now industry standards were introduced by BSLI. Being a customer centric company, BSLI has invested heavily in technology to build world class processing capabilities. BSLI has covered more than 2 million lives since inception and its customer base is spread across more than 1500 towns and cities in India. All this has assisted the company in cementing its place amongst the leaders in the industry in terms of new business premium income. The company has a capital base of Rs. 1274.5 crore, as on March 31, 2008.

Mr. Deepak Satwalekar, MD & CEO, HDFC Standard Life attributed this growth to the quality of life insurance solutions offered by the company and its increased geographical reach. He also emphasised, “We believe that our success is a result of our efforts in giving customers, the best long-term solutions to take care of their insurance needs. Our endeavour to provide high quality insurance and pension solutions to customers through quality pre-sales advice, based on a sound need-based solutions approach, and post-sales service has started to pay off.”

• New Business Premium Income up by 63% to Rs. 2,685 crores. Total Premium Income is up by 70% at Rs. 4,859 crores as against Rs. 2,856 crores in FY2006-07
• Alternate Channels including bancassurance has recorded an impressive growth of over 63% to contribute 41% to the Effective Premium Income (EPI)
• Group business funds under management have increased to Rs. 959 crores, registering a growth of 83% over FY2006-07
• The average premium has increased to Rs. 33,000
• Company products and services are now available in 726 cities and towns across the country
• Strength of Financial Consultants has increased to 1,45,000.

HDFC Standard Life tracks its New Business Premium on the basis of Effective Premium Income (EPI). EPI is calculated by giving only a 10% value to a Single Premium policy and is an internationally accepted indicator of an insurance company’s performance. The total premium income (including renewal premium) grew by 70% to touch a figure of Rs. 4,859 crores. High levels of persistency have resulted in higher level of renewal premiums. Although there has been a slight dip from 89% to 86%, we continue to have the highest persistency level in the industry. The cumulative sum assured for all policies issued upto March 31, 2008 crossed Rs. 87,000 crores.

In offering unit linked products, the structured sales process adopted by the company has paid rich dividends. “We believe that we should be able to lengthen the maturity profile of our policy portfolio, now that the regulatory disincentive has been removed with effect from April 1, 2008,” added Mr. Satwalekar. HDFC Standard Life offers, both, life insurance policies as well as pension products on a unit linked platform as also the conventional ‘with profits’ platform.

Over 50% of the sum assured as on March 31, 2008, is in respect of non unit-linked policies. Over 30% of funds under management are in respect of non-linked business, which reflects the balanced book between conventional and unit-linked business in the total portfolio of the company.

HDFC Standard Life continues to have one of the widest reaches among new insurance companies. The company strengthened its number of offices from 103 to 572 across the country in less than 3 years. Through these offices, the company today services customer needs in over 726 cities and towns. The company also increased its depth in existing markets by increasing its Financial Consultant strength from 74,000 as on March 31, 2007 to 1,45,000 as on March 31, 2008. There has been a huge jump of 300% over the last 3 years in the number of its Financial Consultants who have qualified to become members of the prestigious Million Dollar Round Table (MDRT) Club. The strength of MDRT qualified members has gone up to 496 as on December 31, 2007.

As against the regulatory requirement of writing 18% of all policies in rural areas, HDFC Standard Life has issued over 217,000 policies accounting for 23% of all policies issued during 2007-08. Additionally, during 2007-08, HDFC Standard Life has covered 51,326 lives under the social sector category, as against the requirement of 25,000 lives. Overall, the company has covered over 9,59,000 lives during the year ending March 31, 2008.

To meet the demands arising from the company’s rapid growth, shareholders have contributed additional Rs. 470 crores of equity to take the paid-up share capital as on March 2008 to Rs. 1,271 crores.

Source: Press release distribution via India PRwire

HDFC Standard Life Insurance Company Limited is one of India’s leading private life insurance companies offering a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd), India’s leading housing finance institution and Standard Life plc, the leading providers of financial services in the United Kingdom. HDFC Ltd. as on December 31, 2007 holds 72.38 per cent of equity in the joint venture.

HDFC Standard Life’s Product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, and Investment. Customers have the added advantage of customizing the Plans, by adding optional benefits called riders, at a nominal price. The company currently has 21 retail and 6 group products in its portfolio.

HDFC Standard Life maintains very high professional standards during product offerings by providing sound financial advice, efficient post-sale service, and immaculate financial security. Ongoing training for conventional products, and specialized training, for unit-linked products, for its financial consultants, has also helped its customers choose the product, best suited for their needs.

HDFC Standard Life operates across more than 726 cities and towns of the country supported by its strong network of more than 1,45,000 Financial Consultants. HDFC Standard Life also has more than 383 corporate agents and other sales intermediaries including banks for distribution of insurance products.

Market Performance & Forecast

Between 2000 and 2007, Vietnamese life insurance sector increased from $51.12 million to $586.24 million, CAGR growth of 35.65% during this period. We forecast that the life insurance market in Vietnam would grow at a CAGR of 10.71% and an annual average growth rate of 13.21% between 2007 and 2011. From $596.24 million in 2007, the market will increase by approximately $388 million and reach $975.21 million by the end of 2011.

Non-life premiums in Vietnam were estimated to be $555.74 million in 2007, a growth of $429.74 million from the market size of $126.00 million in year 2000. Between 2007 and 2011, we project a CAGR of 13.89% .i.e. from $555.74 million in 2007; the non-life insurance sector in Vietnam will reach $1064.75 million.

According to the Vietnam Insurance Association, there are 120,000 insurance agents and 10,000 employees in the country. There are currently 16 non-life insurers, eight life insurers and seven insurance brokers. Vietnam's life insurers offer about 100 products and generated premium income. Fifteen foreign insurers have established operations and 30 others have representative offices. Foreign-owned insurers dominate the life insurance market. Domestic insurers are more dominant in the non-life insurance market and foreign insurers hold only a 7 percent market share. Some of the top insurance companies in Vietnam are ACE Life Insurance Co., Ltd., AIG General Insurance (Vietnam) Company Limited, Bao Viet Holdings, Bao Minh, Groupama/GAN, Nipponkoa Insurance Co., Ltd., Prudential Vietnam Assurance, Petrolimex Joint Stock Insurance Company (PJICO), Petrovietnam Insurance Company (PVIC), and QBE Insurance (Vietnam) Company Limited etc.

Major Driving Factors

=> Economic growth above 8 percent

=> Entry to the World Trade Organization (WTO)

=> Opening up of insurance market for foreign investments

=> US-Vietnam bilateral trade agreement in 2001

=> Emerging middle class & increasing literacy rate

=> Increasing foreign direct investments

=> And many more…

Major Issues & Trends

=> Foreign investors targeting Vietnamese Insurance Sector

=> Foreign companies trying to capture Vietnamese Market

=> Insurance still in a nascent stage due to traditional mindset

=> Lack of infrastructure and support

=> Setting up of a national export-credit insurance organisation

=> Demand for risk prevention increasing

=> Staffing concerns in insurance companies

=> Establishment of the Laos-Vietnam Insurance Joint Venture (LVI)

=> Recent developments at Bao Viet

=> And many more…

Topics covered in the report

=> Economic performance of Vietnam

=> Recent economic policies of the Communist Party

=> Macroeconomic trends and drivers

=> Focus on increasing Foreign Direct Investments and opening up of insurance market

=> Past and present scenario of Vietnamese Insurance Market & Future Outlook

=> Past and present scenario of Vietnamese Life Insurance Market & Future Outlook

=> Past and present scenario of Vietnamese Non-Life Insurance Market & Future Outlook

=> Driving factors for Vietnamese Insurance Market

=> Entry in WTO

=> Setting up of a national export-credit insurance organisation

=> Establishment of the Laos-Vietnam Insurance Joint Venture (LVI)

=> Government strategic initiatives to strengthen Insurance Market

=> Competitive Landscape & Market Share of foreign and domestic players

=> Recent developments in Bao Viet

=> Company profiles of top players

=> And many more…

Table of Contents

1. VIETNAM

1.1 VIETNAMESE ECONOMY

1.2 GOVERNMENT POLICIES

2. INSURANCE SECTOR

2.1 MARKET OVERVIEW

2.2 MARKET SEGMENTATION & PERFORMANCE

2.2.1 Vietnamese Insurance Market

2.2.1.1 Life Insurance Sector

2.2.1.2 Non-Life Insurance Sector

2.3 DRIVING FACTORS

2.3.1 Recent catalysts

2.3.2 Young and vibrant population

2.3.3 Emerging middles class

2.3.4 Literacy rate

2.3.5 War of talent

2.3.6 Increasing foreign direct investment (FDI)

2.4 TRENDS, ISSUES AND OPPORTUNITIES – AN ANALYSIS

2.4.1 Foreign investors targeting Vietnamese Insurance Sector

2.4.2 Entry in WTO

2.4.3 Foreign companies trying to capture Vietnamese Market

2.4.4 Traditional mindset of the people – Insurance still in a nascent stage

2.4.5 Inadequate basic infrastructure and support

2.4.6 Underselling to capture market

2.4.7 Setting up of a national export-credit insurance organisation

2.4.8 Underlying opportunity for life insurance policies – need for risk prevention

2.4.9 Entry of foreign players & staffing concerns

2.4.10 Historical economic growth trends

2.4.11 Establishment of the Laos-Vietnam Insurance Joint Venture (LVI)

2.4.12 Factors driving investment decisions

2.4.13 Transformation at Bao Viet

2.4.14 HSBC enters strategic relationship with top Vietnam insurer, Bao Viet

2.5 GOVERNMENT REGULATIONS

2.6 COMPETITIVE LANDSCAPE & MARKET SHARE

2.6.1 Company Profiles

2.6.1.1 ACE Life Insurance Co., Ltd.

2.6.1.2 AIG General Insurance (Vietnam) Company Limited

2.6.1.3 Bao Viet Holdings

2.6.1.4 Bao Minh

2.6.1.5 Groupama/GAN

2.6.1.6 Nipponkoa Insurance Co., Ltd.

2.6.1.7 Prudential Vietnam Assurance

2.6.1.8 Petrolimex Joint Stock Insurance Company (PJICO)

2.6.1.9 Petrovietnam Insurance Company (PVIC)

2.6.1.10 QBE Insurance (Vietnam) Company Limited

Pages: 107; Format: PDF

Authors: Akash Rakyan & Nishith Srivastava

List of Charts

Chart 1: Macroeconomic Data: Population (mil.) vs. Nominal GDP ($ billions): 2002-2011

Chart 2: Macroeconomic Data: GDP per capital ($mil.) vs. Real GDP Growth (%): 2002-2011

Chart 3: Vietnam Insurance Market ($million): 2000-2007e

Chart 4: Vietnam Insurance Market Forecast ($million): 2007e-2011f

Chart 5: Vietnam Life Insurance Market Value ($million): 2000-2007e

Chart 6: Vietnam Life Insurance Market Value Forecast ($million): 2007e-2011f

Chart 7: Vietnam Non-Life Insurance Market Value ($million): 2000-2007e

Chart 8: Vietnam Non-Life Insurance Market Value Forecast ($million): 2007e-2011f

Chart 9: Market Share of Life Insurance Companies in Vietnam

Chart 10: Market Share of Non-Life Insurance Companies in Vietnam

List of Tables

Table 1: Macroeconomic Data: Population (mil.) vs. Nominal GDP ($ billions): 2002-2011

Table 2: Macroeconomic Data: GDP per capital ($mil.) vs. Real GDP Growth (%): 2002-2011

Table 3: Vietnam Insurance Market ($million): 2000-2007e

Table 4: Vietnam Insurance Market Forecast ($million): 2007e-2011f

Table 5: Vietnam Life Insurance Market Value ($million): 2000-2007e

Table 6: Vietnam Life Insurance Market Value Forecast ($million): 2007e-2011f

Table 7: Vietnam Non-Life Insurance Market Value ($million): 2000-2007e

Table 8: Vietnam Life Insurance Market Value Forecast ($million): 2007e-2011

Source: Press release distribution via India PRwire

About ‘The Knowledge Centre’

Established in 2007, “The Knowledge Centre” caters to clients in Financial Services Sector globally. Its expertise lies in knowledge management, business research & management consulting. It conducts surveys across different regions and creates business and market research reports on all the major sectors and sub-sectors of global financial services market.

The Knowledge Centre is a wholly owned subsidiary of the world’s largest executive search firm in financial services. The parent company undertakes search assignments at top levels. It has offices spread across London, New York, Dubai, Delhi, Hong Kong and Tokyo.

Click2insure.in is a definitive insurance website looking at providing comprehensive information on Insurance products in five areas: travel, auto, health, home and term life as well as the option to purchase the products online. The portal is the culmination of two years of intensive customer surveys, data collation and working together with the insurance companies.

“We have presence in 16 locations at the moment and are expanding very fast. The plan is to have a pan India presence with around 250 locations to service the growing insurance needs of the Indian customer. Our estimates say that we should have nearly one million customers and a turnover of Rs.500 crores in the next 3-5 years,” said Mr. Rahul Aggarwal, CEO, Optima Insurance Brokers & CEO, click2insure.in. Optima has invested close to Rs.2 crores in the portal till now and will be investing another Rs.25 crores going forward. The investments will be on IT, infrastructure as well as creating a robust offline presence to support the online initiative.

Click2insure.in is an internet venture which seeks to empower the retail customer to take an informed decision. The idiom – Knowledge is Power will be on full display at Click2insure.in where the customer will be provided full information on various insurance products and the idea is that the retail customers have to just go online and they can check and compare prices and options before purchasing any product.

“The internet has drastically changed the way we think and behave and increasingly buy. Today, any customer would like to equip himself with information to ensure that he/she is making a correct choice that is suited / customised to his purposes. The website will enable a customer to compare various products and buy the one that suits him/her the best at the click of a mouse”, added Mr. Rahul Aggarwal.

The corporate customers always had the choice wherein multiple insurance companies and brokers provide them with information and options for insurance policies which best take care of their needs. However the retail customers, due to the size of their personal insurance, were being denied this opportunity. Click2insure.in aims to set right this imbalance in the insurance space and bring transparency in a field as complex as insurance.

With the opening up of the Insurance Sector, the number of insurers is increasing daily. Today insurers have also started focusing on retail insurance products and the insurance products are no longer restricted to plain vanilla policies. This has caused a sudden explosion in the number of insurance products in the market.

At present there are more than 25 health insurance products, more than 20 travel insurance policies, more than 15 home insurance products and more than 10 Personal Accident plans. A similar scenario exists in life insurance space. There are more than 50 investment based insurance products.

This multitude of products is creating a lot of confusion in the mind of a common man. There is an immense amount of mis-selling that happens either due to ignorance or with a deliberate intent despite the best attempt by IRDA. A prospective insurance buyer is completely ignorant of even the existing policies leave alone being aware of his requirements. He needs and has a right to correct information.

Click2insure.in aims to give this power to take an informed decision, in the hands of a common man. Click2insure.in will give comprehensive details about an insurance product along with the pricing information, from all the insurance companies.

Some of the unique selling propositions of Click2insure.in, beside transparency and convenience are the benefits that the customers will get of the parent, Optima’s experience in the Indian insurance market.

All customers will get comprehensive support on choosing a product, documentation and claims through phone and internet. The customers get advised and serviced by insurance experts instead of first time agents for whom insurance is a side business.

Source: Press release distribution via India PRwire

About Optima Insurance Brokers Pvt. Ltd.

OptimaInsuranceBrokers is a specialized Insurance brokering company that was amongst the first private players to come into being when the private participation was allowed in 2000. Optima offerings include corporate and retail advisory services. Insurance products include asset insurance, liability insurance, construction insurance and all employee related insurances.

Amongst the top clients of Optima include Pizza Hut in F& B; Honeywell, GE Consumer Finance in IT, Eli Lilly, Qualichem in pharmaceutical, Ansal housing, Unitech in Real estate, Siticable and Zoom Communications in Broadcasting etc. Today, Optima manages insurance for more than 75 large and mid-sized companies as well as over 10,000 retail customers.

Today the turnover of the company is over Rs. 40 crores and has its offices at Delhi, Ahmedabad, Bangalore, Gurgaon, Hyderabad, Noida, Mumbai, Pune, Karnal, Sonepat & Panipat, Rewari and Bhatinda.

For more information, please contact:
Milton Singh / Shriya Jain / Sunil Kumar Singh - Finesse PR
+91 11 43056200
Milton@finessepr.com / shriya@finessepr.com / sunil@finessepr.com

India is a vast market for life insurance that is directly proportional to the growth in premiums and an increase in life density. With the entry of private sector players backed by foreign expertise, Indian insurance market has become more vibrant. Competition in this market is increasing with company’s continuous effort to lure the customers with new product offerings. However, the market share of private insurance companies remains very low -- in the 10-15% range. Even to this day, Life Insurance Corporation (LIC) of India dominates Indian insurance sector. The heavy hand of government still dominates the market, with price controls, limits on ownership, and other restraints.

Major Driving Factors

=> Growing demand from semi-urban population

=> Entry of private players following the deregulation

=> Rising demand for retirement provision in the ageing population

=> The opening of the pension sector and the establishment of the new pension regulator

=> Rising per capita incomes among the strong middle class, and spreading affluence

=> Growing consumer class and increase in spending & saving capacity

=> Public private partnerships infrastructure development

=> Dearth of innovative & buyer-friendly insurance products

=> Success of Auto insurance sector

Emerging Areas

=> Healthcare Insurance & Pension Plans

=> Mutual fund linked insurance products

=> Multiple Distribution Networks .i.e. Banc assurance

The upward growth trend started from 2000 was mainly due to economic policies adopted by the then Indian government. This year saw initiation of an era of economic liberalization and globalization in the Indian economy followed by several reforms and long-term policies that created a perfect roadmap for the success of Indian financial markets. On the basis of several macroeconomic factors like increase in literacy rate & per capita income, decrease in death rate and unemployment, better tax rebates, growing GDP etc., we estimate that the Indian insurance sector will grow by $28.65 billion and reach $76.54 billion by 2011 with a CAGR of 12.44% and a growth of 59.82%.

The Indian life insurance market generated total revenues of $41.36 billion in 2007, thus representing a compound annual growth rate (CAGR) of 11.84% for the period spanning 2000-2007. Life insurance market had a growth of $22.46 billion within a period of 7 years with a growth rate of 118.24%. Estimated life premiums rose from INR1,470,800 million ($36.77 billion) in 2006 to INR1,301,540 million ($32.54billion) in 2005. We envisage that life premiums in 2011 will be $65.96 billion, a growth larger than they were in 2007. The performance of the market is forecast to accelerate, with an anticipated CAGR of 9.78% for the four-year period 2007-2011 expected to drive the market to a value of $65.96 billion by the end of 2011. There would be a growth of $24.6 billion i.e. 59.48% in the next 4 years.

Non-life premiums in India were $6.53 billion in 2007. Gross written premium (GWP) in the Indian non-life insurance market reached a value of $5.75 billion in 2006, this representing an annual growth of 13.55% for the period spanning 2006-2007. Estimated non-life premiums rose from INR230 billion ($5.75 billion) in 2006 to INR261 billion ($6.53 billion) in 2007. We anticipate that non-life premiums will grow by a CAGR of 9.40% between 2007-2011. We are looking for non-life premiums to rise by $405 million over the five years to the end of 2011 with a growth rate of 62.02%.

Topics covered in the report

=> Trend analysis of Indian economy and growing macroeconomic factors and

=> India’s position in the context of emerging countries

=> Historical growth trends & growth drivers of Insurance & its sub-sectors in India and outlook till 2011.

=> Market size of insurance sector (total, life & non-life) since 2000 till 2007

=> Market forecast of insurance sector (total, life & non-life) between 2007 and 2011

=> Key issues & challenges, major trends & opportunities

=> Government’s initiatives to promote & regulate the insurance market

=>Competitive landscape and market share of top players

=>And many more...

Table of Contents

METHODOLOGY & RESEARCH APPROACH

EXECUTIVE SUMMARY

1. INDIA

1.1. ECONOMY

1.1.1. Performance in FY2007

1.1.2. Growing Per Capita Income

1.1.3. Macroeconomic trends

1.1.4. Future predictions

1.2. GOVERNMENT POLICIES

2. INDIAN INSURANCE SECTOR

2.1. MARKET OVERVIEW

2.1.1. Insurance Sector vs. Macro-economic factors

2.2. MARKET PERFORMANCE & FORECAST (2000-2011)

2.2.1. Indian Insurance Market

2.2.1.1. Indian Life Insurance Market

2.2.1.2. Indian Non-Life Insurance Market

2.3. DRIVING FACTORS

2.3.1. Opening of Pension sector

2.3.2. Growing Per Capita Income & Changing Demographics

2.3.3. Macro-Economic and Demographic Growth Drivers

2.3.4. Other Major Drivers

2.4. TRENDS, ISSUES AND OPPORTUNITIES – AN ANALYSIS

2.4.1. Major Issues

2.4.2. Emerging sectors for Insurance

2.4.3. Emergence of Multiple Distribution Networks

2.4.4. Consolidation of Distribution Strategy

2.4.5. Targeting niche customer base with customized products

2.4.6. Stagnating premium growth and underlying opportunity

2.4.7. The Deregulation of the Insurance Market in India (w.e.f. January 1, 2007)

2.4.8. Proposed stages of removal of the tariffs

2.4.9. Insurance sector driving Indian CRM market

2.4.10. Product Preferences among Consumers

2.4.11. Success of Auto Insurance Sector

2.4.12. Other major hurdles

2.5. GOVERNMENT REGULATIONS

2.5.1. Insurance Acts

2.5.2. Government backed insurance schemes

2.5.3. Reforms in Insurance Sector

2.6. COMPETITIVE LANDSCAPE

2.6.1. Competition in Life Insurance Sector

2.6.1.1 Market Share & Segmentation

2.6.1.2. Life Insurance - Five Forces Analysis

2.6.2. Competition in Non-Life Insurance Sector

2.6.2.1. Market Share & Segmentation

2.6.2.2. Non-Life Insurance - Five Forces Analysis

2.7. COMPANY PROFILES – TOP PLAYERS

2.7.1. Bajaj Allianz General Insurance Co. Ltd

2.7.2. ICICI Lombard General Insurance Company

2.7.3. IFFCO-TOKIO General Insurance (ITGI)

2.7.4. National Insurance Company Limited

2.7.5. The New India Assurance Co. Ltd.

2.7.6. The Oriental Insurance Company Limited

2.7.7. Reliance General Insurance

2.7.8. Royal Sundaram Alliance Insurance Co. Ltd

2.7.9. Tata AIG General

2.7.10. United India Insurance Company Limited

2.7.11. Bajaj Allianz Life Insurance Company Limited

2.7.12. ICICI Prudential Life Insurance Company

Pages: 130

Format: PDF

Authors: Akash Rakyan and Nishith Srivastava

Lists of Charts

Chart 1: GDP growth, per capita income and size of country by GDP in 2014f

Chart 2: Macroeconomic Data & Factors

Chart 3: Government Debt- India (% of GDP)

Chart 4: Annual Inflation Rate (CPI) - India %

Chart 5: Total Premium Growth vs. GDP Growth (%) – 2000-2007e

Chart 6: Life Insurance vs. Non-Life Insurance vs. Total Premium vs. GDP (%) – 2000-2008f

Chart 7: India Insurance Market Value ($ billion): 2000-2007e

Chart 8: India Insurance Market Value Forecast ($ billion): 2008-2011f

Chart 9: India Insurance Market: Segment Share (2007e)

Chart 10: India Life Insurance Market Value ($billion): 2000-2007e

Chart 11: Asia-Pacific Life Insurance Market Segmentation: % share in 2006e

Chart 12: India Life Insurance Market Share: % Share, by Value, 2006-2007e

Chart 13: India Life Insurance Market Value Forecast ($billion): 2008-2011f

Chart 14: India Non-Life Insurance Market Value ($billion): 2000-2007e

Chart 15: India Non-Life Insurance Market Value Forecast ($billion): 2007-2011f

Chart 16: Sub-sector share of Non-life Insurance Market in India (2007e)

Chart 17: India Non-life Insurance Market Share: % Share, by Value, 2006-2007e

Chart 18: Market Share of leading life insurance companies in India (% share) – 2007e

Chart 19: India Life Insurance Market Segmentation (%share & $billion value): 2010-2011f

Chart 20: India Non-Life Insurance Market Segmentation (%share & $billion value): 2006-2007e

Chart 21: India Non-Life Insurance Market Segmentation (%share & $billion value): 2010-2011f

List of Charts

Table 1: GDP Growth (2002-07)

Table 2: Total Premium Growth & GDP Growth (%) – 2000-2007

Table 3: Growth (%): Life Insurance vs. Non-Life Insurance vs. Total Premium vs. GDP (%) – 2000-2008f

Table 4: India Insurance Market Value ($billion): 2000-2007e

Table 5: India Insurance Market Value Forecast ($ billion): 2008-2011f

Table 6: India Life Insurance Market Value ($billion): 2000-2007e

Table 7: Asia-Pacific Life Insurance Market Segmentation: % share in 2006

Table 8: India Life Insurance Market Share: % Share, by Value, 2006-2007e

Table 9: India Life Insurance Market Value Forecast ($billion): 2008-2011f

Table 10: India Non-Life Insurance Market Value ($billion): 2000-2007e

Table 11: India Non-Life Insurance Market Value Forecast ($billion): 2007-2011f

Table 12: India Non- Life Insurance Market Share: % Share, by Value, 2006-2007e

Table 13: India Insurance Market Segmentation (%share & $billion values): 2006-2007e

Table 14: India Insurance Market Segmentation (%share & $billion value): 2010-2011f

Table 15: Market Share of leading life insurance companies in India – 2007e

Table 16: India Life Insurance Market Segmentation (%share & $billion value): 2010-2011f

Table 17: India Non-Life Insurance Market Segmentation (%share & $billion value): 2006-2007e

Table 18: India Non-Life Insurance Market Segmentation (%share & $billion value): 2010-2011f

Source: Press release distribution via India PRwire

About ‘The Knowledge Centre’

Established in 2007, “The Knowledge Centre” caters to clients in Financial Services Sector globally. Its expertise lies in knowledge management, business research & management consulting. It conducts surveys across different regions and creates business and market research reports on all the major sectors and sub-sectors of global financial services market.

Mr.Vikram Mehmi, President & CEO, Birla Sun Life Insurance remarked “

Birla Sun life Insurance has regained momentum during 2007-08. For the year ended March 2008, we have achieved APE (Annualized Premium Equivalent) of Rs. 2,204 crores, showing a growth rate of 131% resulting in the company being amongst the fastest growing life insurance companies in India”.

This increase in market share & growth rate during fiscal 2008 has been realized on the back of an aggressive distribution expansion strategy & introduction of a range of innovative new plans & funds, which have provided the company unique opportunities to tap new market segments.

The distribution expansion during the year recorded a phenomenal increase. This has happened across channels & on a national foot print. The branch network increased from 137 to 339; with a further 261 branches under implementation by May 2008. This expansion was national in nature across all the states & across various town classes. The bank assurance channel reflected high growth through in depth penetration of customer segments within its banking relationships. The corporate agency & broker channel witnessed phenomenal growth as a result of developing a large number of new relationships.

During 2007-08, BSLI revamped its product portfolio – Launching 4 Products for Individual Segment, 3 products for Group and 7 Funds launched ( 4 Group + 3 Individual) New products have made a significant contribution to APE.

The investment performance for BSLI has been strong & consistent, resulting in increased confidence of policyholders.

The AUM for Birla Sun Life Insurance is about Rs.­­­6,900 crores as on 31st March, 2008. Its Outstanding Claims Ratio is 0.41%. BSLI has a pan-India branch presence of 339 branches with over 1,00,000 advisors nationally, out of which over 500 advisors are members of the prestigious Million Dollar Round Table (MDRT). BSLI has insured over 2 million lives since inception, comprising over 1.5 million through its individual business and the rest through its Group business.

Source: Press release distribution via India PRwire

Birla Sun Life Insurance Company Limited is a joint venture between The Aditya Birla Group, one of the largest business houses in India and Sun Life Financial Inc., a leading international financial services organisation. The local knowledge of the Aditya Birla Group combined with the expertise of Sun Life Financial Inc., offers a formidable protection for your future.

Birla Sun Life Insurance (BSLI) has completed 7 successful years of operations & has contributed significantly to the growth and development of the life insurance industry in India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. It was the first player in the industry to sell its policies through the Bancassurance route and through the Internet. It was the first private sector player to introduce a pure Term plan in the Indian market.

This was supported by sales practices, which brought a degree of transparency that was entirely new to the market. The process of getting sales illustrations signed by customers, offering a free look period on all policies, which are now industry standards were introduced by BSLI. Being a customer centric company, BSLI has invested heavily in technology to build world class processing capabilities. BSLI has covered more than 2 million lives since inception and its customer base is spread across more than 1500 towns and cities in India. All this has assisted the company in cementing its place amongst the leaders in the industry in terms of new business premium income.

Additional information is available at www.birlasunlife.com

The Aditya Birla Group is a US $24 billion conglomerate with a market capitalization of US $31.5 billion (as on 31st December 2007) and is one of the largest business houses in India. It enjoys a leadership position in all the sectors in which it operates. It is anchored by a force of 100,000 employees, belonging to 25 nationalities. Its operations span 20 countries across six continents and is reckoned as India's first multinational corporation. Headquartered in Mumbai, India, over 50 per cent of the Group’s revenues flow from its overseas operations. The Group nurtures a work culture where success is built on learning and innovation.

The Aditya Birla Group was recently been adjudged “The Best Employer in India and among the top 20 in Asia” by the Hewitt, Economic Times and Wall Street Journal Study 2007.

Additional information is available at www.adityabirla.com

About Sun Life Financial Inc.

Sun Life Financial Inc. is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Tracing its roots back to 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31st, 2007, the Sun Life Financial group of companies had total assets under management of US$386.82 billion. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under ticker symbol "SLF".

Additional information can be found at: www.sunlife.com

Also speaking on this occasion, Shri.A.K.Loomba, Chairman of the Sarva U.P Gramin Bank “we are very proud to tie-up with Bajaj Allianz Life Insurance and we will now be able to offer insurance benefits and products to our customers”

Sarva U.P.Gramin Bank, sponsored by Punjab National Bank one of the leading commercial Bank of India, came into existence by amalgamation of 4 RRBs Viz ( Uttar Pradesh Gramin Bank Meerut, Kissan Gramin Bank Budaun, Rani Laxmi Baye Gramin bank Jhansi and Devi Pattan Gramin bank Gonda) working in the area spread in whole Uttar Pradesh "East to West".

The Bank has its Head Office in Meerut. Sh.A.K. Loomba is the First Chairman of the Bank. The Bank's operational area spreads in Fourteen Districts viz. Meerut, Bulandshahr, Ghaziabad, Gautam Budh Nagar, Bijnor, Gonda, Balrampur, Budaun, Haridwar, Bagpat, Sharanpur, Jhansi, Lalitpur and Muzaffaranagar. The Bank has 268 Branches and 10 Extension Counters & Customer Base of 16.87 lacs.

Source: Press release distribution via India PRwire

Bajaj Allianz Life Insurance Company is the leading Private Sector life insurance Company in India.. With a pan India presence and over 950 + towns, Bajaj Allianz Life Insurance has already sold over 5 million policies. Bajaj Allianz Life Insurance has developed insurance solutions that cater to every segment and age-income profiles. For companies it provides comprehensive 'Employee Benefit Solutions' (Group Term Life, EDLI, Gratuity, Super-annuation, Key man Insurance and more); for the individual Invest Gain (a unique life insurance plan where sustenance of income is combined in the same plan that also pays a lump sum), Cash Gain (Money Back), Child Gain (Children's plan), Care First, Risk Care (Pure Term), Lifetime Care (whole life), Term Care (term with return of premium), Saran Visitant (Retirement Plan), Protector (Mortgage term insurance plan), UnitGain Plus Gold, New UnitGain Super, New Family Gain, New UnitGain Plus, New UnitGain, New UnitGain Premier, New UnitGain Easy Pension Plus, New UnitGain Easy Pension Plus Single premium and Future Secure. Currently Bajaj Allianz has a product portfolio of over 30 flexible and simple products and more need-based products are in the pipeline.

The tone for the discussion was set with a key note address by Rakesh Mishra, Vice President and Head of Product Management at Farmers Insurance, (the 3rd largest Personal Line Insurance Company in the US). Rakesh spoke about the evolution of price sophistication in the US Insurance market from a cost based pricing to a demand based pricing to a relationship driven customer acquisition. He then moved on to lay a framework for achieving price sophistication in the organisation and role of information and analytics in the current relationship driven customer acquisition.

Rakesh cited examples from the US insurance industry to emphasize on the need for price sohpistication in Insurance and the impact that brand image has on getting premium over competition. He also emphasized the role of data-driven decision making and predictive modeling, done by firms such as Fractal Analytics, in arriving at innovative pricing techniques for insurance products.

The keynote address was followed by a panel discussion. The experts panel consisted of prominent members of the Indian insurance industry such as Eswarnatarajan N., ICICI Lombard; Alok Kumar, General Insurance Council (GIC); and Rakesh Mishra. They spoke about the current scenario in India and the importance of customer information and analytics in making pricing decisions.

Speaking about innovative pricing for insurance, Srikanth Velamakanni, CEO, Fractal Analytics, said that Indian insurance companies will skip intermediate levels on their way to pricing sophistication. Moving from 3 price-points to 100,000 price segments will decide the success of insurance companies in the detariffed environment. Srikanth added that, multiple price segments using analytical models will be one of the key differentiators for insurance companies.

Source: Press release distribution via India PRwire

Fractal Analytics provides innovative predictive analytics to drive better decisions. Global corporations partner with Fractal Analytics to understand and influence consumer behaviour, improve marketing effectiveness, manage credit risks and improve profitability. Fractal has offices in USA, Singapore & India and clients in more than thirty countries across the globe.

The preliminary work on the project has already commenced and the project is expected to be fully commissioned by 2012. The project has been comprehensively covered by a seamless insurance cover, commencing from the time the equipments leave the suppliers' warehouses in India or any other part of the world and continues
throughout the period of transit up to the project site, the storage thereat and during the entire period of erection and final commissioning of the plant.

The entire project has been insured against all risks arising out of the various activities at site, as well as against natural calamities and third party liability.

It is first of the series of Ultra Mega Power Plants coming up in the country. The exclusive SPV set up for implementing the project, Coastal Gujarat Power Limited, is a wholly owned subsidiary of The Tata Power Company Limited. The project envisages the construction and commissioning of a Coal based Ultra Mega thermal Power Plant with a nominal capacity of 4000 Mega Watts, with 5 units of 800 MW each.

Oriental proposes to engage top notch professionals at the project site to monitor the progress of the project on a continuous basis, which is very essential not only for minimizing losses at site but also for evaluating claims that may arise on account of Advance Loss of Profits.

The preliminary work on the project has already commenced and the project is expected to be fully commissioned by 2012. The project has been comprehensively covered by a seamless insurance cover, commencing from the time the equipments leave the suppliers' warehouses in India or any other part of the world and continues
throughout the period of transit up to the project site, the storage thereat and during the entire period of erection and final commissioning of the plant.

The entire project has been insured against all risks arising out of the various activities at site, as well as against natural calamities and third party liability.

It is first of the series of Ultra Mega Power Plants coming up in the country. The exclusive SPV set up for implementing the project, Coastal Gujarat Power Limited, is a wholly owned subsidiary of The Tata Power Company Limited. The project envisages the construction and commissioning of a Coal based Ultra Mega thermal Power Plant with a nominal capacity of 4000 Mega Watts, with 5 units of 800 MW each.

Oriental proposes to engage top notch professionals at the project site to monitor the progress of the project on a continuous basis, which is very essential not only for minimizing losses at site but also for evaluating claims that may arise on account of Advance Loss of Profits.

Source: Press release distribution via India PRwire

About Oriental Insurance:

The Company was a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd and was formed to carry out General Insurance business. The Company was a subsidiary of Life Insurance Corporation of India from 1956 to 1973 ( till the General Insurance Business was nationalized in the country). The strength of the company lies in its highly trained and motivated work force that covers various disciplines and has vast expertise. Oriental specializes in devising special covers for large projects like power plants, petrochemical, steel and chemical plants. The company has developed various types of insurance covers to cater to the needs of both the urban and rural population of India. The Company has a highly technically qualified and competent team of professionals to render the best customer service.

ORIENTAL with its head Office at New Delhi has 23 Regional Offices and nearly 900 operating Offices in various cities of the country. The Company has overseas operations in Nepal, Kuwait and Dubai. The Company has a total strength of around 16,000 employees. From less than a lakh at inception, the Gross Premium went up to Rs.58 crores in 1973 and during 2006-07 the figure stood at a mammoth Rs. 4020 crores.

Janata Bima Yojana will be available at an extremely affordable premium of Rs. 100 (for a couple, including taxes) to the rural population and will cover people from the age group of 18-60 years. The policy extends coverage under 2 sections which include Property cover (Householder’s content only) and Critical Illness cover (Paralytic Stroke, Cancer, Coronary Artery Disease, Loss of Limbs, Coma) with a sum assured of Rs. 10,000 under both the sections. There is a provision for children to be included as well at an additional Premium of only Rs. 25 per child under the policy.

Commenting on ITGI’s rural initiatives, Mr. S. Narayanan, MD & CEO, IFFCO-TOKIO, said, “ITGI is one of the pioneers in the insurance space focusing on the virtually untapped rural Indian market. With our unmatched service excellence and customized products, we aim to serve the rural population with better products and services to ensure that they are protected from risks of any kind. Janata Bima Yojana is a step in that direction.”

Speaking on ITGI’s rural footprint, Dr. U.S. Awasthi, Managing Director, IFFCO, said, “Given the tremendous potential that exists in the country today for micro insurance products, we have launched the Janata Bima Yojana taking into account the needs of the rural population. In the past, we have been associated with launching hugely successful innovative products like the Barish Bima Yojana and Sankat Haran Policy. We hope to replicate the same success with Janata Bima Yojana and bring the benefits of insurance to all.”

ITGI has been known for its unique initiatives focused on rural-market. The company has been serving the farming community, since as early as 2001, when it launched its specially designed Personal Accident Policy linked with purchase of fertilizer, named “Sankat Haran” under the slogan Khad toh Khad Bima Saath. Till date approximately Rs 19 crores has been distributed to 3000 farmers in Uttar Pradesh and Rs. 43 crores worth of claim have been distributed to around 7300 farmers across the country under this Policy. ITGI further strengthened its foothold in the rural market through the launch of “Barish Bima Yojana”, Barse toh Barse na Barse toh Kyon Tarse - a weather index based insurance cover, in 2005. A runaway success with claims worth more than Rs. 6 crores distributed to over 27,000 farmers till date, the Policy provides cover against deficient rainfall during the monsoon months (June-September). Another ITGI product, “Mausam Bima Yojana,” provides cover for various other vagaries of weather occurring during crop cycle of the Rabi crops viz. temperature, frost. ITGI also offers a policy targeted specially at women organized as Self Help Groups. The policy offers complete protection against all accidental occurrences that might lead to death or accidental injury. Amongst the other initiatives, ITGI has launched “Jan Kalyan Bima,” which is a Fixed Cover Fixed Price Policy covering Property, Health and Personal Accident risks and in contrast, “Kisan Suvidha Bima Yojna” provides a flexible option for covering varied risks like property including harvested crop, accident and health for the family and comprehensive cover for tractors. These initiatives facilitate the farmers for their various requirements all over the country at an affordable price.

Source: Press release distribution via India PRwire

IFFCO TOKIO General Insurance Company (ITGI) is a joint venture promoted by Indian Farmers Fertiliser Co-operative (IFFCO) and its associates and The Tokio Marine and Nichido Fire, the largest insurance company in Japan. The Indian promoter’s contribution is 74 percent, while Tokio Marine has contributed 26 percent through group company Tokio Marine Asia Pte Ltd.

ITGI has a widespread network more than 170 offices across the country and many more in the pipeline for the coming year. The objective behind opening new offices is to cover the enormous spread of the country and reach the masses.

In its commitment towards better customer service ITGI has been rated No. 1 is Motor Insurance Customer Satisfaction and No. 2 in Home Insurance by an independent agency Consumer VOICE. Apart from this, Maruti Suzuki has awarded ITGI as THE BEST SERVICE PROVIDER.

In its continuing endeavor to make healthcare accessible to the people of India, Apollo DKV’s strategic plan is to bring world-class insurance experience to consumers across India. This tie-up is yet another step towards offering unparalleled product range and value to its customers. The company plans to have a national presence across 25 cities by the second year of operations and spread to over 100 locations by 2010.

The tie-up will provide the common man with indigenously developed ‘quote-engines’ to compare, choose and buy Insurance online. The website also offers complete portfolio management (renewal auto-reminders to advisory) and claims assistance on policies purchased. The website endeavors to give the common Insurance buyer complete power of information and decision making.

Speaking on the tie-up, Mr. Chandrasekhar, CMO, Apollo DKV, said, “Apollo DKV is putting in a concerted effort at expanding the health insurance category and making it more affordable and accessible. Partnerships like this with Bonsai Insurance Broking for purchasing online Insurance reiterates our commitment towards the same and would enhance customer satisfaction.”

Commenting on the tie-up, Mr. Manish K. Jaiswal, CEO and MD, Bonsai International Group, said, “It is our pleasure to be associated with Apollo DKV a highly respected health insurance company from one of Asia’s leading healthcare group and a highly trusted brand in India. At Bonsai, we always provide exciting and interesting deals for our partners. Through this tie up we are looking at a fruitful association of building relationship with the loyal customers of Apollo DKV.”

Source: Press release distribution via India PRwire

About the promoters:

The Apollo Hospitals GroupApollo Hospitals group is a pioneer and leader in corporate healthcare in India and currently owns and manages 42 large tertiary care hospitals, 60 primary care clinics, and the largest retail pharmacy chain of over 600.

The other interests of the group include, wellness and disease management, holistic medicine, clinical research, Medical BPO, IT in health care, Medical and paramedical education and third party administration of health insurance.

Apollo Health City, Hyderabad the first functional health city in Asia, truly represents the integrated nature of the group housing under one roof.

The uniqueness of the Apollo hospitals is in uniting the exceptional clinical success rates and superior technology to match the best in the West with centuries-old traditions of Eastern care and warmth. The hospitals in the group have treated over 14 million patients from 55 countries.

Apollo Hospitals being the country’s largest provider network has excellent relations with all the insurers in India, currently underwriting health insurance and will continue its good relations with all the insurance companies as a provider of care.

DKV

DKV is the European market leader and one of the world’s top five private health insurers. In 2006 the company reached a gross premium income of € 5bn with 7.3 million customers. With its Think Healthcare!® strategy DKV provides insurance coverage, healthcare services and medical care from one single source. DKV is represented across Europe (Belgium, Germany, Great Britain, Luxembourg, Norway, Spain, Sweden) as well as in Asia, i.e. China, South Korea and India. DKV’s headquarters are based in Cologne, Germany. The company is a member of the ERGO Insurance Group and thus part of the Munich Re Group, one of the world’s largest reinsurer. Further Information at www.dkv.com

About Bonsai International Group (BIG):

Bonsai, founded in 2004 is an integrated full service financial services group of companies into Insurance Broking and Money Changing. The website is part of Bonsai’s vision to provide customers with tech-leveraged innovative solutions. Headquartered at Mumbai and offices in Bangalore and New Jersey-USA, Bonsai has served over 200000 customers in the last two years through the offline medium. More information at www.bonsaiinternational.com

About InsuranceMall.in

www.InsuranceMall.in launched in June 2007 by Bonsai Insurance Broking Pvt. Ltd., is India’s First Neutral Insurance Shopping Website providing complete Insurance solutions claims assistance. The website endeavors to give the common Insurance buyer complete power of information and decision making while shopping for Insurance.

For more information please visit http://www.InsuranceMall.in
Media Contact
Mahavir Chopra
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Any ICICI Lombard customer insuring 50 vehicles is classified as a 'Red Carpet' customer and is a offered unique Red Carpet service proposition, which gives ease in terms of documentation andreduction in claimprocesses. In addition, ICICI Lombard has introduced a 24X7 toll free helpline, with customers across the country dialing '1800 209 8888' to seek assistance in time of distress.

The 'Red Carpet' service initiative entails relaxation in spot survey in case of a claim by allowing shifting of the vehicle from the loss location in case the ICICI Lombard surveyor does not turn up within 6 hours and offer full claim without any deduction. ICICI Lombard would make advance payment for claims over Rs. one lakh, by paying 50% of assessed liability upfront, with dues settled immediately after final invoice is raised.

The other service initiatives include Free Health and Eye Check-up camps, Driver Trainings on 'Am I a safe driver', exclusive access to national highway cashless network and scheduled visits to customers to collect and assess feedback and periodic sharing of claims MIS. The numbers of cashless garages are also continuously increased, especially on the national highways.

Speaking on the initiative, Mr. Eshwaranatrajan, Head – Motor Insurance, ICICI Lombard General Insurance said: "About 20 % of our valued clientele have already experienced our service levels offered under the 'Red Carpet '. The whole objective is to enable the customer to get the claim settled for his damaged vehicle at the earliest and with minimum documentation. We shall be enhancing our overall service, with special thrust for the Commercial Vehicle segment, which is considered the cornerstone for a rapidly developing economy like India."

Source: Press release distribution via India PRwire

About ICICI Lombard General Insurance

ICICI Lombard is a 74:26 joint venture between ICICI Bank Limited, India's second largest bank with $79 billion in assets and Fairfax Financial Holdings Limited, a Canada based $26 billion diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management.

ICICI Lombard is now the largest private sector general insurance company in India with a Gross Written Premium (GWP) of Rs 17,266 million for the half year ended September 30, 2007 with a market share of 12% and compounded annual growth rate of over 45% in the last two years.

ICICI Lombard was awarded the 'General Insurance Company of the Year' at the 11th Asia Insurance Industry Awards. The Company also won the NDTV Profit Business Leadership Award 2007 and was adjudged as the most Customer Responsive Company in the Insurance category at the Economic Times Avaya GlobalConnect Customer Responsiveness Award 2006. More to its credit, it has the Gold Shield for "Excellence in Financial Reporting" by the ICAI (Institute of Chartered Accountants of India) for the year ended March 31, 2006.

The company has been assigned a domestic rating of iAAA by ICRA (an associate of Moody's Investors Service) for highest claim paying ability and a fundamentally strong position. The prospect of meeting policyholders' obligation is the best.

The company presently has 5,150 employees in 245 offices spread across 190 locations. In the financial year ended March 31, 2007, the company issued over 3.14 million policies across India and serviced over 642,000 claims. The company has a claim disposal ratio of 96% (percentage of claims settled against claims reported) as on March 31, 2007.

The claims have been made to 4,169 farmers in 7 districts of Surguja, Koriya, Jashpurnagar, Raigarh, Mahasamund (Saraipali), Kawardha and Rajnandgaon (Chhuikhadan, Dongargarh, Gandai and Ambagarh Choki) in Chhattisgarh. The scheme was applicable in 12 districts covering a total of 10,433 farmers in the state. The claim cheques were distributed through a function organized by the company in various locations. Dr. Raman Singh (Chief Minister of Chhattisgarh) graced the occasion as Chief Guest.

The unique policy has received an overwhelming response from the farmers, since it was launched by ITGI in 12 districts of Chhattisgarh during the Kharif season of 2007. Barish Bima Yojana provides insurance cover to farmers due to deficiency in rainfall.

Commenting on the success of the policy, Mr. S Narayanan, MD & CEO, IFFCO TOKIO General Insurance Co. Ltd. said, “Our endeavor is to protect the farmers of the country against unforeseen risks, and we are delighted by the success of the Barish Bima Yojana policy in the state of Chhattisgarh. ITGI with its unmatched products and service excellence will further leverage this accomplishment to introduce the policy in more regions of the country,” he added.

Since Oct 2001, ITGI has also been serving the farming community through its specially drafted personal accident policy linked with purchase of fertilizer, named “Sankat Haran Bima Yojna” through Co-operative societies under the slogan “Khad to khad Bima Saath”. Under this cover, no premium is charged from the farmer.

Till 31st January, 2008, 6945 claims have been paid, amounting to Rs. 40.55 crore, all over India.

ITGI has a strong presence in Chhattisgarh, with footprints in 8 districts, namely Raipur, Durg/Bhilai, Rajnandgaon, Bilaspur, Raigarh, Ambikapur and Jagdalpur. The company started the Chhattisgarh operations in 2004, and since then has also initiated the ‘Cooperative Model’ in the state through the Cooperative societies. ITGI has also opened

4 Bima Kendra Center’s at Durg, Rajnandgaon, Raipur and Ambikapur. The company has also tied up-ups with APEX Bank in the state.

4 Bima Kendra Center’s at Durg, Rajnandgaon, Raipur and Ambikapur. The company has also tied up-ups with APEX Bank in the state.

About Barish Bima Yojna

Barish Bima Yojna (BBY) is an index based Weather Insurance Product that caters to the needs of the farmers. The policy provides cover for anticipated deficiency in rainfall during the monsoon months (June-September). At the end of the policy period, the weighted Actual rainfall is compared to the weighted Normal rainfall and the Graded claim payout is made as per Claim Payout Table. The policy is sold as a Group Policy through Cooperative Societies / Co-operative Banks / NGOs etc.

The claims have been made to 4,169 farmers in 7 districts of Surguja, Koriya, Jashpurnagar, Raigarh, Mahasamund (Saraipali), Kawardha and Rajnandgaon (Chhuikhadan, Dongargarh, Gandai and Ambagarh Choki) in Chhattisgarh. The scheme was applicable in 12 districts covering a total of 10,433 farmers in the state. The claim cheques were distributed through a function organized by the company in various locations. Dr. Raman Singh (Chief Minister of Chhattisgarh) graced the occasion as Chief Guest.

The unique policy has received an overwhelming response from the farmers, since it was launched by ITGI in 12 districts of Chhattisgarh during the Kharif season of 2007. Barish Bima Yojana provides insurance cover to farmers due to deficiency in rainfall.

Commenting on the success of the policy, Mr. S Narayanan, MD & CEO, IFFCO TOKIO General Insurance Co. Ltd. said, “Our endeavor is to protect the farmers of the country against unforeseen risks, and we are delighted by the success of the Barish Bima Yojana policy in the state of Chhattisgarh. ITGI with its unmatched products and service excellence will further leverage this accomplishment to introduce the policy in more regions of the country,” he added.

Since Oct 2001, ITGI has also been serving the farming community through its specially drafted personal accident policy linked with purchase of fertilizer, named “Sankat Haran Bima Yojna” through Co-operative societies under the slogan “Khad to khad Bima Saath”. Under this cover, no premium is charged from the farmer.

Till 31st January, 2008, 6945 claims have been paid, amounting to Rs. 40.55 crore, all over India.

ITGI has a strong presence in Chhattisgarh, with footprints in 8 districts, namely Raipur, Durg/Bhilai, Rajnandgaon, Bilaspur, Raigarh, Ambikapur and Jagdalpur. The company started the Chhattisgarh operations in 2004, and since then has also initiated the ‘Cooperative Model’ in the state through the Cooperative societies. ITGI has also opened

4 Bima Kendra Center’s at Durg, Rajnandgaon, Raipur and Ambikapur. The company has also tied up-ups with APEX Bank in the state.

4 Bima Kendra Center’s at Durg, Rajnandgaon, Raipur and Ambikapur. The company has also tied up-ups with APEX Bank in the state.

About Barish Bima Yojna

Barish Bima Yojna (BBY) is an index based Weather Insurance Product that caters to the needs of the farmers. The policy provides cover for anticipated deficiency in rainfall during the monsoon months (June-September). At the end of the policy period, the weighted Actual rainfall is compared to the weighted Normal rainfall and the Graded claim payout is made as per Claim Payout Table. The policy is sold as a Group Policy through Cooperative Societies / Co-operative Banks / NGOs etc.

Since Oct 2001, ITGI has also been serving the farming community through its specially drafted personal accident policy linked with purchase of fertilizer, named “Sankat Haran Bima Yojna” through Co-operative societies under the slogan “Khad to khad Bima Saath”. Under this cover, no premium is charged from the farmer.

Till 31st January, 2008, 6945 claims have been paid, amounting to Rs. 40.55 crore, all over India.

ITGI has a strong presence in Chhattisgarh, with footprints in 8 districts, namely Raipur, Durg/Bhilai, Rajnandgaon, Bilaspur, Raigarh, Ambikapur and Jagdalpur. The company started the Chhattisgarh operations in 2004, and since then has also initiated the ‘Cooperative Model’ in the state through the Cooperative societies. ITGI has also opened

4 Bima Kendra Center’s at Durg, Rajnandgaon, Raipur and Ambikapur. The company has also tied up-ups with APEX Bank in the state.

4 Bima Kendra Center’s at Durg, Rajnandgaon, Raipur and Ambikapur. The company has also tied up-ups with APEX Bank in the state.

About Barish Bima Yojna

Barish Bima Yojna (BBY) is an index based Weather Insurance Product that caters to the needs of the farmers. The policy provides cover for anticipated deficiency in rainfall during the monsoon months (June-September). At the end of the policy period, the weighted Actual rainfall is compared to the weighted Normal rainfall and the Graded claim payout is made as per Claim Payout Table. The policy is sold as a Group Policy through Cooperative Societies / Co-operative Banks / NGOs etc.

Till 31st January, 2008, 6945 claims have been paid, amounting to Rs. 40.55 crore, all over India.

ITGI has a strong presence in Chhattisgarh, with footprints in 8 districts, namely Raipur, Durg/Bhilai, Rajnandgaon, Bilaspur, Raigarh, Ambikapur and Jagdalpur. The company started the Chhattisgarh operations in 2004, and since then has also initiated the ‘Cooperative Model’ in the state through the Cooperative societies. ITGI has also opened

4 Bima Kendra Center’s at Durg, Rajnandgaon, Raipur and Ambikapur. The company has also tied up-ups with APEX Bank in the state.

4 Bima Kendra Center’s at Durg, Rajnandgaon, Raipur and Ambikapur. The company has also tied up-ups with APEX Bank in the state.

About Barish Bima Yojna

Barish Bima Yojna (BBY) is an index based Weather Insurance Product that caters to the needs of the farmers. The policy provides cover for anticipated deficiency in rainfall during the monsoon months (June-September). At the end of the policy period, the weighted Actual rainfall is compared to the weighted Normal rainfall and the Graded claim payout is made as per Claim Payout Table. The policy is sold as a Group Policy through Cooperative Societies / Co-operative Banks / NGOs etc.

ITGI has a strong presence in Chhattisgarh, with footprints in 8 districts, namely Raipur, Durg/Bhilai, Rajnandgaon, Bilaspur, Raigarh, Ambikapur and Jagdalpur. The company started the Chhattisgarh operations in 2004, and since then has also initiated the ‘Cooperative Model’ in the state through the Cooperative societies. ITGI has also opened

4 Bima Kendra Center’s at Durg, Rajnandgaon, Raipur and Ambikapur. The company has also tied up-ups with APEX Bank in the state.

4 Bima Kendra Center’s at Durg, Rajnandgaon, Raipur and Ambikapur. The company has also tied up-ups with APEX Bank in the state.

About Barish Bima Yojna

Barish Bima Yojna (BBY) is an index based Weather Insurance Product that caters to the needs of the farmers. The policy provides cover for anticipated deficiency in rainfall during the monsoon months (June-September). At the end of the policy period, the weighted Actual rainfall is compared to th