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Future Generali launches micro insurance

Posted on Jul 03, 02:54PM | IBNS

Mumbai, July 3: Future Generali India Insurance Company Ltd, the general insurance joint venture between Future Group of India and Generali of Italy, has launched Future Sampoorna Suraksha, a comprehensive micro insurance product tailored specifically for the rural and semi urban, urban poor segment.

The product aims to provide protection to insureds and their business under a range of covers conveniently brought into one package policy.

Through Future Sampoorna Suraksha, Future Generali Insurance said it is looking to tap into the growing rural opportunity.

The package policy covers hospital cash benefit, personal accident, building and contents, robbery and burglary, farm produce, agricultural pump set, cart protection and liability, and pedal cycle.

KG Krishnamoorthy Rao, CEO and MD, Future Generali India Insurance Co. Ltd. said "The penetration of Insurance in rural markets is dismally low - far lower than the national average of 4pc (Life insurance and non-life insurance). It presents huge untapped opportunity, which can be leveraged with suitable products customized for these markets."

"We now look forward to adding more value to over 15 lakh members across these institutions with our competitively priced newest offering - Future Sampoorna Suraksha," Rao said.