The Hindu Business Line : Future Generali unveils 2 pension products

Mr Jayant Khosla, MD & CEO, Future Generali India Life Insurance Company (right), and Mr Deepak Sood, MD & CEO, Future Generali India Insurance Co Ltd, at a press conference in Mumbai on Tuesday.

Our Bureau

Mumbai, Oct. 7 Future Generali India Life Insurance has launched two pension products — a traditional product and a ULIP — to cater to both the risk averse and risk loving customers. The Future Pension Plan, a traditional product, will provide an option of additional premium contribution, whereas a Future Pension Advantage Plan, a ULIP, has a wide band to select retirement age group in the industry.

The company plans to double its employee strength from the existing 2,700 by the end of this fiscal, said Mr Jayant Khosla, Managing Director and Chief Executive Officer, Future Generali India Life Insurance Company Ltd.

Regarding expansion plans, Mr Khosla said the company would inject Rs 75-80 crore quarterly to meet the fund requirements of the company. At present, the company has a total capital base of Rs 200 crore.

The company also plans to increase its agent’s strength from 5,000 to 50,000 by this year-end.

The company will also increase its total branches to 100, company officials said.

Mallassurance contributes 25 per cent of the group’s total policy sales, Mr Khosla said. The company leverages the vast retail network of its promoter group to help in increasing penetration levels. The company aims to increase its sale of retail policies to 18 lakh by the end of the next fiscal, he said.

The Generali group is also trying to replicate this mallassurance model in other countries, he added.

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