The Hindu Business Line : Future Generali eyeing sales via malls

Future Generali India Life Insurance Company Ltd will focus on selling insurance products through malls of Future Group as bancassurance tie-ups are difficult to arrange for a new entrant in the present regulatory framework, according to Mr Nagesh Rajanna, Chief – Sales and Business Development. ‘Mallassurance’ or the distribution channel of malls, accounted for 10 per cent of its total written premiums, he added. “While we are open to partnering wi th banks, our in-house network of 192 malls across the country will take more critical roles as alternative distribution channels,” he told presspersons on the sidelines of the launch of its endowment policy Future Anand.

The company, in the second year of its operation, has no bancassurance portfolio, as most banks are already in tie-ups with other insurance companies. IRDA currently allows a bank to sell policies of only one life insurance and one general insurance company.

— Our Bureau

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