Future Generali Life Insurance Company is on the lookout for a suitable banking partner for distributing their products. The bank channel is a crucial one for most life insurance companies as it does not involve any setup costs and they get easy access to a large customer base.

Insurance Regulatory and Development Authority (IRDA) has slapped a fine of Rs 20 lakhs on Future Generali Life Insurance for violation of norms.

According to IRDA, Future Generali permitted various unlicensed individuals to solicit and procure business through Insurance For You (Future) when the entity itself was not licensed i.e approved by the Authority as Corporate Agent.

In April, 2011, IRDA carried out an onsite inspection at the Hyderabad Branch of Future Generali to investigate...  Read More »

Future Group, led by its founder and Group CEO, Kishore Biyani, is set to exit from its life insurance joint venture – Future Generali Insurance.  According to latest media reports, the company is already in advance talks with Industrial Investment Trust (IITL).
 

Future Generali General Insurance Company is a joint venture between the Future Group of India and the Italy’s Generali Group. Future Group holds 74% stakes while the remaining 26% stakes is held by Generali Group.
 

The insurance...  Read More »

In a new marketing and branding initiative, Future Generali, a 74:26 joint venture between Future Group and Italy’s Generali, has partnered with the makers of Marathi movie Dubhang.
 

Through this novel promotional campaign, it aims to reach out to the Maharashtrian audiences as Marathi cinema is very popular with the local audiences. Dubhang is produced and directed by Mahesh Kothare who is very popular in the Marathi film industry.

Commenting on the tie-up, Arnab Mallik, CMO, Future...  Read More »

In an attempt to grow and retain their insurance agent base, Future Generali Insurance Company has launched a new campaign called ‘Ab Nibhao Rishtedari’. 

Recruiting new insurance agents and retaining them, is one of the major challenges faced by life insurance companies. No two insurance products are the same and hence insurance companies spend a lot of time and effort in training and ensuring that their agents have good knowledge about the product that they need to pitch to prospective...  Read More »

Future Generali India Insurance Company has launched an innovative service for its motor insurance customers. Aptly named as Future Xpress and Future Xpress+, this new service is aimed towards simplifying the exhausting, time consuming and lengthy motor claim process. The company aims to offer its customers a more personalized service and enhanced touch points for smooth and speedy motor claims settlement.

While Future Xpress+ is targeted for those who wish to get their loss assessed and...  Read More »

Insurance awareness among Indian consumers is on the rise and insurance companies are leaving no stone unturned to gain an edge over their competitors by launching innovative plans. A lot of insurance companies are breaking out of the old vanilla plans to introduce insurance products to cater to different customer needs.

Life insurance policies contribute close to 4.4% of the total insurance penetration of 5.1% in India. This clearly indicates that customers are more inclined towards buying...  Read More »

Private Indian insurance company, Future Generali has registered a 58% growth in its gross written premiums for the year 2010-11. 

Future Generali General Insurance Company is a joint venture between the Future Group of India and the Italy’s Generali Group. The insurance business is carried out through its 94 branches across the country.

During the financial year 2011, which is the company’s third full year in operations, their gross written premiums (GWP) stood at Rs 661 crores as...  Read More »

Future Generali is on a recruitment spree and is looking out for insurance agents and advisors in Maharashtra and West Bengal.

The company is aiming to recruit close to 4100 insurance advisors or agents Maharashtra this year. In West Bengal, Future Generali India Life Insurance Company is planning to recruit 3120 new insurance agents to sell life policies. At present in West Bengal, they have over 2900 advisors. With the addition of new recruits, their base will increase to 6050 advisors.

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Future Generali has deployed iWorks Prophet, the leading risk management platform by SunGard Financial Systems.

This platform is used by financial services to develop risk management models in a secure environment. iWorks Prophet is  market-driven solution designed with the goal of supporting Enterprise Resource Management (ERM) initiatives. It offers support for insurance products such as life, non-life, and permanent health. Insurers use iWorks Prophet for risk reporting and actuarial...  Read More »