IndiaFirst opens its Financial Planning Centre

Bangalore, June 23 : IndiaFirst Life Insurance, a joint venture of Bank of Baroda and Andhra Bank along with UK's leading risk, wealth and investment company Legal and General, opened its Financial Planning Centre (FPC) here today.

Speaking after inaugurating the Centre, Company Managing Director and CEO Dr P Nandagopal said that nearly 1000 advisors attached to the FPC and offer entire range of services including new business application processing, policy servicing request processing, advisor licensing processing, advisor/sales training, claim intimation processing and document collection and record management for business applications.

He said that the company has generated about Rs 17 crore through Bancassurance model in the first 15 months of operation from Bangalore. It also expects distribution model to contribute one third of its business over a period of 2-3 years.

The company proposes to set up such FPCs across important cities in India. It has achieved the fastest run rate by crossing the Rs 900 crore mark in new business premium within 500 days of its operations-covering over 1.2 million lives. (UNI -Posted on / )

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