Future Generali India Insurance Company Limited (FGIICL)
Incorporated on October 30, 2006 Future Generali India Insurance is a joint venture between Future Group- India’s business conglomerate and Generali – Italy’s global insurance service provider. Future Group holds 74% stake while Generali Group has 26% stake in the venture. The A.M Best global rating agency has accredited Generali group with A+ rating which signifies financial ability as stable.
Future Generali Product Portfolio:
Motor Insurance: This policy Insurance provides financial cover for damage or loss of vehicles as well as third party liability. Future Generali motor insurance is called Future Secure Motor Insurance.
Health Insurance: This covers medical expenses which arise on hospitalization due to illness or accident. Future Generali health insurance products are Future Health Suraksha – Individual and Family. Future Generali health insurance can be purchased online.
Travel Insurance: This provides coverage for travel related risks which include medical illness, loss of baggage, personal accident, personal liability and many more. Future Generali has two options for travel insurance which are Travel Suraksha- Asia Travel and Travel Suraksha- Overseas travel. Travel Insurance can be purchased online.
Home Insurance: This provides cover for damage to home or loss of contents due to any calamities- natural or manmade.
Future Generali Home Suraksha is the home insurance product by Future Generali and can be bought online.
Personal Accident Plans: This policy provides financial cover in case of accident. The Sum Assured is paid in case of death or disability. Future Generali accidental insurance is called Future Accident Suraksha and can be bought online.
Future Generali currently has 97 branches across 80 cities and over 14,700 licenced advisors.
Future Generali also has Mallassurance™ channel- Total Insurance Solutions available at Malls via retail outlets. Mallassurance was launched in May, 2009, and has already expanded to 165 stores in 53 cities. (December, 2010)
Most of Future Generali products can be purchased online.
The total premium earned for the half year ended September 30, 2010 was Rs 1,263 million. The profit before tax for the same period is Rs 522 million. A total of 32,373 claims were made during the period out of which 20,222 claims were settled and 2,783 claims were rejected.
K G Krishnamoorthy Rao is the MD & CEO of Future Generali General Insurance.
S Venkatesh is the CFO of Future Generali General Insurance.
Milan P Shirodkar is the CIO of Future Generali General Insurance.
Biresh Giri is the Appointed Actuary of Future Generali General Insurance.
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