Future Generali launches Future Sampoorna Suraksha
comprehensive micro insurance product to tap into the growing rural opportunity
Comprehensive micro insurance
product that addresses the holistic protection needs of the rural customer.
Secures the customer and
family by providing for medical / hospitalization expenses and protecting
assets such as building & contents, farm produce, agricultural pump set,
Available as a package,
though one can also create combinations and buy select covers to suit specific
Competitive pricing - Rs.
50,000 cover for as low as Rs.30 per annum.
Mumbai: Future Generali
India Insurance Company Ltd, the general insurance joint venture between Future
Group of India and Generali of Italy, has launched Future Sampoorna Suraksha, a comprehensive micro insurance product tailored
specifically for the rural and semi urban, urban poor segment, to
provide valuable protection to insureds and their business under a range of
covers conveniently brought into one package policy.
Through Future Sampoorna Suraksha, Future
Generali Insurance is looking to tap into the growing rural opportunity. The
package policy covers hospital cash benefit, personal accident, building &
contents, robbery & burglary, farm produce, agricultural pump set, cart
protection & liability, and pedal cycle.
launch of Future Sampoorna Suraksha, Mr.
KG Krishnamoorthy Rao, CEO & MD, Future Generali India Insurance Co. Ltd.
said “The penetration of Insurance in rural markets is dismally low – far lower
than the national average of 4% (Life insurance & non-life insurance). It
presents huge untapped opportunity, which can be leveraged with suitable
products customized for these markets. Future Generali currently works with a
few large micro-finance institutions in northern and southern India. These
associations have worked out very successfully for them and their customers as
well as for us as an insurer. We now look forward to adding more value to over
15 lakh members across these institutions with our competitively priced newest
offering – Future Sampoorna Suraksha.
We are confident that this comprehensive product and its viable price will make
a compelling proposition, which will help our partners attract many first time insurance
buyers, who would otherwise stay away from the category. We also intend to
distribute ‘Future Sampoorna Suraksha’ across India through our growing Agency
& Bancassurance network”
Generali India Insurance Co. Ltd., (FGIL) has in the past worked with MFIs in
south India by offering customized accidental death, disablement and accidental
hospitalization combination for their members at a nominal premium.
Approximately 2.5 lacs members have already been benefited because of these
policies. The MFI now has become a broad platform for FGIL to distribute other
products such as cattle & livestock, shop insurance, agricultural assets
also built up a relationship with an NGO based in North India, for distribution
of insurance products which have been tailor-made for their members. Group
Personal Accident and/or Group Health insurance of as low as Rs.10000 are
offered to their members and their families.
Future Generali India
Insurance currently operates out of 94 branches across the country and its
products are also distributed through 163 Future Group retail outlets across
the country with Future Generali’s unique Mallassurance™ model.
For more details, please contact