Launches 28 new branches across India as part of Project Roar
Mumbai, 01 Month 2020: Future Generali India Life Insurance Company Limited (FGILI) today inaugurated new branches across various centers to increase its footprints nation-wide. The new branches are located at major centers in Kolkata those are Haldia, Contai, Burdhwan, Barasat and Behrampur. Other than Kolkata new branches are also opened at Mumbai, Ambala, Dimapur, Sibsagar, Bangalore, Keonjhar, Patiala, Mohali, Zirakpur, Udhampur, Annanagar, Trichy, Haldwani, Noida, Faridabad, Gurugram, Kukatpally, Jabalpur, Kannur, Thiruvalla, Kozhikode.
Future Generali India Life Insurance Company Limited (FGILI) has undertaken an expansion plan with the title ‘Project Roar’, to increase their operational presence in India. The rational for choosing these specific locations to open new offices were based on an assessment done on demographic parameters. The Economic Potential Indicator (EPI) data released by the World Bank was also a useful pointer in the selection.
All over, through ‘Project Roar’, the company intends to recruit close to 346 employees and 2058 distributors in the current year and are hopeful to further increase these numbers in the next two years.
Future Generali India Life Insurance Company Ltd. (FGILI) has been focusing on expanding their agency channel by ramping up the recruiting process of new agents and opening new branches in India. Over the last 3 years, the company through its agency channel, has seen immense progress and profitability that contributes to the overall development of FGILI. The growth in agency channel’s new business has increased by 340 per cent while the department has also strengthened its workforce by 130 per cent in 3 years.
Speaking on the occasion, Subhasish Acharya - Executive Vice President and Head - Agency, Future Generali India Life Insurance Company Limited said, “India has a huge potential for the untapped insurance regions and it is about time insurers go full throttle in reaching out to its population with innovative and relevant insurance products. With Project Roar, we feel proud to be part of the government’s initiative to make insurance products accessible to all.
At FGILI, we follow a philosophy of providing customers with products that are simpler, smarter and faster to adapt in nature. We continue to aspire to be a true customer-centric company backed by technology and are positive of the business opportunities that these new locations will provide.”
The first phase of the expansion was initiated in December 2018 under the title Project Vistar. The second expansion phase under the title ‘Project Roar’ aims to improve customer-centricity by providing quick and simple solutions to actively protect and enhance peoples’ lives.
Generali is an independent, Italian Group, with a strong international presence. Established in 1831, it is among the world’s leading insurers and it is present in over 60 countries with total premium income exceeding €70 billion in 2016. With over 74,000 employees in the world, and 55 million clients, the Group has a leading position in Western Europe and an increasingly significant presence in the markets of Central and Eastern Europe and in Asia. In 2017 Generali Group was included among the most sustainable companies in the world by the Corporate Knights ranking.
Future Group operates some of India’s most popular retail chains including Central, Big Bazaar, Food Bazaar, Home Town and eZone. Apart from its allied businesses in Life and General insurance, the Group is also present in the domain of logistics infrastructure and supply chain and brand development. The group operates over 17 million square feet of retail space in over 90 cities and towns and 60 rural locations across India. The group’s retail formats connect over 300 million customers to over 30,000 small, medium and large enterprises that supply products and services to its retail chains. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group’s core value of ‘Indianness.’ The group’s corporate credo is, ‘Rewrite rules, Retain values’.
IITL was incorporated in the year 1933 as an investment trust Company. It has made bonus issues thrice and has been consistently paying dividend to shareholders over the years.