IndiaFirst eyes Rs 1,200 cr from new biz this economic
One of the youngest players in the space of life insurance, IndiaFirst life insurance, set a target of Rs 1200 crores combing the new premium for this fiscal and has aligned with a bouquet of products to help achieve this goal.
“We have a group of savings product, a unique offering for High Networth individuals and a pension plan in the pipeline for the current fiscal year. The pension plan will be implemented when the regulatory guidelines are out,” said managing director and CEO IndiaFirst P Nandagopal PTI here.
Premium new business the company has achieved Rs 150 crore in July, which was the target of the first quarter.
“We are already on track to achieve Rs 1,200-crore new business premium target by the end of the year,” he said.
To achieve this, a private insurer is also planning to increase its agents in 5000 from the current 500 in this fiscal.
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IndiaFirst is also working on four deals, including two health products for FY13, he said.
Private insurers already have a dozen products, as well as traditional and unit-linked portfolios.
“Our experiment was a huge response for health insurance, and has sold 5,000 projects,” Nandagopal said, adding that he expected sales of 30 000 first floor insurance money back India by the end of FY12.
Source: [ET]
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