Future Generali India Life Insurance Company
Established and Started its operations in 2007, Future Generali Life Insurance India is a joint venture between Generali Group, Future Group and Industrial Investment Trust Limited (IITL). The Generali Group is one of the most significant players in the global insurance and financial products market and focused on the life segment, the Generali Group offers a wide range of products ranging from savings and family protection policies to unit-linked policies to its customers worldwide. Future Group is one of India's leading business houses with multiple businesses spanning across the retail space. The company has presence in multiple consumer-centric businesses like retail, consumer finance, capital, insurance, media, brands, and logistics. It owns and manages multiple retail formats such as Pantaloons, Big Bazaar, Central, Food Bazaar, and Home Town. Where as IITL is an investment firm registered as a Non-Banking Financial Company with Reserve Bank of India (RBI). IITL holds 22.50% stake in the equity of Future Generali India Life Insurance Company Ltd. The company has a network spread across 98 branches in India and since its started working sold over 11 Lakh policies.
Future Generali India Life Insurance Company offers one stop a complete range of simplified solutions for all types of financial security to the customers, enterprises, including savings, family protection, saving protection, unit linked policies, as well as group products. The policies are offered with a maximum tenure up to 75 years and the eligibility criteria ranges from least 18 years to maximum 56 years. The company has a record of maximum grievances settled and provide a claim ratio of 90.61%. The company received the Silver EFFIE award in the financial services category in 2011, for marketing effectiveness during the Future Generali Insurance Week. Future Generali Life Insurance's investment team has received the ISO 9001:2008 certification for its 'claims' and 'customer care support' functions in 2013.