{"id":9012,"date":"2024-12-05T11:30:28","date_gmt":"2024-12-05T06:00:28","guid":{"rendered":"https:\/\/et-edge.com\/conferences\/insurance\/?page_id=9012"},"modified":"2024-12-06T17:28:55","modified_gmt":"2024-12-06T11:58:55","slug":"associate-partner","status":"publish","type":"page","link":"https:\/\/et-edge.com\/conferences\/insurance\/associate-partner\/","title":{"rendered":"Associate Partner"},"content":{"rendered":"\t\t
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Future Generali India Life Insurance<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Insuring Happiness Through Customer-Centric Innovation<\/strong><\/p>

India is the fifth-largest life insurance market among emerging economies, growing at an impressive annual rate of 32-34%.1 In this vibrant landscape, Future Generali India Life Insurance is steadfast in its commitment to being a Lifetime Partner, delivering innovative, personalized solutions and a superior customer experience. This dedication, embedded in the company\u2019s DNA, drives transformative growth, expanding its reach and securing the financial future of millions across India.<\/p>

As a trusted partner, the company goes beyond the transactional nature of insurance by fostering transparency, empathy, and protection, securing a brighter future for the communities it serves.<\/p>

Global Expertise, Customer Insight<\/p>

Established in 2006 as a partnership between the Future Group of India and the Generali Group\u2014which operates in over 50 countries with assets under management of \u20ac516 billion and premium income of \u20ac82.5 billion (as of 31st December 2023)\u2014Future Generali India Life Insurance benefits from a global network of best practices, resources, and capabilities.<\/p>

Future Generali India Life Insurance merges global expertise with deep insights into local markets. This approach enables the company to design tailored products that effectively meet the evolving needs of its customers.<\/p>

Headquarters- Mumbai<\/p>

Operating across- 1,300+ locations in India<\/p>

Employee Strength (as on 30th September 2024): Approx. 3,000 employees based out of 92 branches.<\/p>

Policies sold as of 31st March 2024- Over 1.6 million<\/p>

15,96,800 lives covered (as of 31st March 2024) since inception.<\/p>

Distribution network-22,938+ distributors, 92 self-branches, and 850+ partner branches.<\/p>

A Trusted Partner in Financial Security<\/p>

In recent years, Future Generali India Life Insurance\u2019s assets under management (AUM) have consistently grown, reflecting strong financial stewardship and a capacity to meet diverse customer needs. The company has also broadened its reach through an extensive network of distributors, branches, and strategic partnerships, making insurance more accessible in underserved regions.<\/p>

Key statistics (as of 31st March 2024):<\/p>

AUM- INR 7,952 Crores 2023-24 (12% growth)<\/p>

Solvency ratio (March 2024)- 183%,<\/p>

13-month persistency of the firm (March 2024) – 77%.<\/p>

Gross Premium (23-24)- INR 1,810.54 Crores<\/p>

Total Sum Assured (including riders)- INR 1,47,780 Crores (8.02% growth)<\/p>

Human-Centric Technology Solutions<\/p>

Inspired by the Generali Lifetime Partner principles of simplification, ownership, human touch, and innovation, Future Generali India Life Insurance is transforming the future of insurance in India. Focused on harnessing emerging trends, the company is actively investing in digital transformation initiatives that enhance the customer journey, simplify business operations for both customers and distributors, and foster efficient, transparent systems.<\/p>

Global-Standard Financial Systems: As part of a global organization, Future Generali India Life Insurance is committed to setting a high benchmark for transparency and integrity in financial systems. Among the first in the insurance industry to adopt the internationally recognized IFRS-17 financial reporting standard, the company also introduced a Treasury Management System to ensure fair, accurate financial reporting. These advancements reflect Future Generali India Life Insurance\u2019s dedication to aligning with global standards in financial management and governance.<\/p>

Innovating People Management Through Technology: Demonstrating its commitment to technological advancement, Future Generali India Life Insurance implemented SAP SuccessFactors to enhance every aspect of employee management. From centralizing employee data to offering insights on performance reviews, satisfaction metrics, training effectiveness, productivity, and compliance, this platform supports a data-driven approach to managing and fostering talent.<\/p>

Enhancing Customer and Distributor Experience Through Innovation:<\/p>

For Customers: Future Generali India Life Insurance places innovation at the core of its customer offerings, designing products that make insurance straightforward and accessible. With a diverse range of solutions\u2014from savings plans and milestone-focused insurance to term plans for young professionals, new parents, and retirement plans for mature customers\u2014Future Generali India Life Insurance addresses the evolving financial needs of customers at every life stage.<\/p>

The recent launch of hyper-personalized, AI-powered video messages further demonstrates their commitment to providing personalised access 24*7. Tailored to individual customers, these videos greet clients by name, reference specific policies, and provide customized updates and celebrations, enhancing the customer experience with a personal touch.<\/p>

For Distributors: To support and streamline distributor operations, Future Generali India Life Insurance is consolidating seven platforms into a single app\/portal called Fortuna. The aim is to create a centralized hub for critical distributor activities. Once fully implemented, Fortuna will enable distributors to access the following essential tools in one place:<\/p>

New distributor onboarding<\/p>

Distributor Management System<\/p>

Distributor Portal<\/p>

Lead and Activity Management<\/p>

Customer onboarding<\/p>

DIY Service capabilities (SDC)<\/p>

Data transformation solutions<\/p>

Recognizing the critical role the \u2018feet-on-street\u2019 frontline sales team plays in building strong customer relationships, the company has also integrated Atlas, a Salesforce tool, to provide real-time, on-the-ground support. This enhancement bolsters the efficiency and productivity of the frontline sales network, crucial in meeting the needs of a rapidly expanding distribution landscape.<\/p>

Embracing forward-thinking strategies and investing in cutting-edge AI and technology-driven initiatives, Future Generali India Life Insurance is spearheading innovations that amplify efficiency, personalization, and transparency. By doing so, it is paving the way for a future where technology fosters deeper understanding and stronger connections with its stakeholders.<\/p>

Commitment to Social Responsibility and Diversity<\/p>

Rooted in its global heritage and Lifetime Partner values, Future Generali India Life Insurance is committed to empowering individuals to shape a safer, more sustainable future. Recognising its roles as a responsible investor, insurer, employer, and corporate citizen, the company integrates social, environmental, and stakeholder impact to drive meaningful, sustainable transformation.<\/p>

Strengthening Employee Engagement and Development: Future Generali India Life Insurance is a responsible employer, evident in its We Care benefits program and Continued Learning Program. We Care offers employees support, including sports scholarships for children, extended paternity leave, adoption assistance, and provisions for children with special needs. The Continued Learning Program empowers employees to pursue ongoing skill development, supporting their professional growth.<\/p>

Future Generali India Life Insurance\u2019s Total Rewards Strategy balances short and long-term incentives, rewarding high-performing teams and enhancing retention. Development Centers create two-year career plans for critical role incumbents, which inform individual development paths and career progression. The company\u2019s employee-focused policies also include hybrid work options, extended paternity leave, and continued education assistance. Moreover, frequent training and development programs, like the \u201cFinance for Non-Finance\u201d sessions, reinforce core company values and help employees grow professionally.<\/p>

Championing Diversity and Inclusion: Future Generali India Life Insurance champions diversity through many initiatives:<\/p>

The Be Bold hybrid working model provides specialized support for employees with children who have special needs and includes a weekly women\u2019s newsletter along with monthly profiles celebrating female employees. Through the Be Bold initiative, Future Generali India Life Insurance is expanding its commitment to DEI with targeted hiring for people with disabilities and an employee referral policy offering additional incentives for diverse referrals.<\/p>

Launched in 2024, the Women in Insurance (WiN) Channel is a pioneering initiative in the insurance sector, designed to support and empower young women leaders. Primarily focused on recruiting from non-metro MBA programs, WiN offers targeted Campus to Corporate training, equipping women with the skills and knowledge to build impactful careers in the insurance industry.<\/p>

Additional DEI initiatives include the Generali GIFT program, which provides mentorship to foster women\u2019s career growth, and FG Club Scholarships for employees\u2019 daughters.<\/p>

The She Rise platform supports 80 female managers across areas like wellness, sisterhood, business impact, and professional development.<\/p>

Corporate Social Responsibility: Under its CSR banner, Future Generali India Life Insurance partners with NGOs including Pratham, United Way of Mumbai, and Save the Children through The Human Safety Net Foundation. Employees actively contribute through volunteering and fundraising, supporting underprivileged children and creating a lasting impact in their communities.<\/p>

These initiatives underscore Future Generali India Life Insurance\u2019s dedication to nurturing a supportive, inclusive workplace and advancing meaningful societal change.<\/p>

In 2024, Future Generali India Life Insurance India Life Insurance was recognized as the Fastest Growing Insurance Company by ASSOCHAM<\/p>

Leading with Purpose and Responsibility: Future Generali India Life Insurance is resolute in its commitment to becoming a customer-centric leader in the market. With a steadfast focus on innovation, social responsibility, and inclusivity, the company is poised to shape a sustainable future, ensuring it remains a trusted ally for generations to come.<\/p>

” At Future Generali India Life Insurance, we don\u2019t just provide insurance; we create pathways to a secure and prosperous future. Our commitment to innovation, empathy, and excellence is about empowering every individual, family, and business we serve, ensuring they can dream without limits and build legacies with confidence.”- Alok Rungta, MD & CEO<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t

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Binary Semantics<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Founded in 1986, Binary Semantics is a global technology leader specializing in digital transformation, AI, IoT, data solutions, Taxtech, and productized solutions across diverse industries. With over 38 years of expertise, we have built a reputation as trusted technology partners, delivering customized solutions to 2500+ clients worldwide.\u00a0<\/span>\u00a0<\/span><\/p>

VISoF \u2013 Product by Binary Semantics\u00a0<\/span><\/b>\u00a0<\/span><\/p>

Offers innovative, tailored Insurtech solutions for insurance companies, OEMs, brokers, and other stakeholders. Designed to address the need for user-friendly and scalable applications, VISoF provides customizable web and mobile-based platforms powered by AI-driven chatbots, cloud-agnostic architecture, LC\/NC implementations, and robust DevOps.\u00a0<\/span>\u00a0<\/span><\/p>

Our flagship product streamlines the entire insurance lifecycle for life and non-life products, earning the trust of industry leaders. Continuously innovating, VISoF is exploring advanced AI-driven use cases like suggestive pricing models and predictive renewability. With a strong focus on multi-tenant SaaS solutions, VISoF is dedicated to staying ahead of industry trends, ensuring seamless operations and enhanced efficiency for its clients.\u00a0<\/span>\u00a0<\/span><\/p>

Renowned for its innovative solutions, VISoF continues to thrive as a leader in the competitive insurance sector.<\/span>\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

11111 Associate Partner Home Associate Partner Future Generali India Life Insurance Insuring Happiness Through Customer-Centric Innovation India is the fifth-largest life insurance market among emerging economies, growing at an impressive annual rate of 32-34%.1 In this vibrant landscape, Future Generali India Life Insurance is steadfast in its commitment to being a Lifetime Partner, delivering innovative, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/other_page.php","meta":{"footnotes":""},"class_list":["post-9012","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/et-edge.com\/conferences\/insurance\/wp-json\/wp\/v2\/pages\/9012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/et-edge.com\/conferences\/insurance\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/et-edge.com\/conferences\/insurance\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/et-edge.com\/conferences\/insurance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/et-edge.com\/conferences\/insurance\/wp-json\/wp\/v2\/comments?post=9012"}],"version-history":[{"count":11,"href":"https:\/\/et-edge.com\/conferences\/insurance\/wp-json\/wp\/v2\/pages\/9012\/revisions"}],"predecessor-version":[{"id":9106,"href":"https:\/\/et-edge.com\/conferences\/insurance\/wp-json\/wp\/v2\/pages\/9012\/revisions\/9106"}],"wp:attachment":[{"href":"https:\/\/et-edge.com\/conferences\/insurance\/wp-json\/wp\/v2\/media?parent=9012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}