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IndiaFirst Life Insurance which is youngest life insurance company in India. IndiaFirst Life Insurance is a joint venture between three organizations Bank of Baroda, Andra Bank and UK’s leading financial institution Legal & General.
Bank of Baroda and Andra Bank together makes network of more than 4600 branches. IndiaFirst Life insurance will uses this wide network of banks to distribute the insurance products, out 4500 branches IndiaFirst Life Insurance Company will use 3500 branches.
IndiaFirst Life Insurance planning to introduce health and pension products before March. The Joint Venture is also proposing to enter the micro-insurance business in the first quarter of next fiscal.
P Nandagopal, managing director and chief executive officer, IndiaFirst said, “We as Life Insurance Company expects Rs 800 crore premium collections during first year of operation, so far we have managed the premium collection of Rs. 500 crore but by March company expects another Rs300 crore premium collection.
IndiaFirst Life Insurance Company is looking to expand its business by using different distribution channels. Insurance company currently has 12 branches in the country and is aiming to open another 18 branches during the next fiscal year. It will also looking to employ another 3000 insurance advisors to sell their products.
IndiaFirst Life Insurance which has varied products to satisfy the needs of different classes of society. It has variety of insurance plans which can meet the needs of office goers, parents, retired persons, women’s, health insurance needs, businessmen’s etc.
Some Popular Products of IndiaFirst Life Insurance:
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Know more about Life Insurance Plans in India.
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