The Hindu Business Line : Future bets on ‘mallassurance’

Future Generali Insurance has kick-started the sale of its insurance products at malls. The company has begun selling insurance policies at 43 Future Money outlets. Future Generali will start by selling simple, over- the-counter life and non-life insurance products through “mallassurance”— a term used described for the sale of insurance products at malls. Future Money (owned by Future Capital) will serve as a corporate agency for the Future Generali Group . “We expect mallassurance to generate as much as 30 per cent our business. We begin by selling at 40 malls and it will be extended to 500 outlets in the next six months,” said Mr Kishore Biyani, Group CEO, Future Group. The company expects to have 1 lakh customers in the next 45 days. Future Generali will also be expanding its branch network and selling products through its agency force. “We have 43 branches and we plan to increase the network to 100 by the end of the year,” said Dr Kim Chai Ooi, Country Manager and Chief Executive Officer, Future Generali Life. Since Future Generali has both life and non-life insurance operations, the agents will be trained for both the lines of business. The agents will have composite licences.

— Our Bureau

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