Future Generali India, a private general insurance company, reportedly has created a microinsurance product targeted at rural business owners in India. The policy, called Future Sampoorna Suraksha, covers certain assets and liabilities of a business, such as produce, pump sets and furniture.
Future Generali Managing Director and Chief Executive KG Krishnamoorthy Rao has been quoted as saying, “We are confident that this comprehensive product and its viable price will make a compelling proposition, which will help our partners attract many first-time buyers who would otherwise stay away.”
The pricing and coverage limits of the policy have not been released. As of March 31, 2012, Future Generali has investment assets totaling INR 164,553 lakh (USD 295.2 million). It is a joint venture of the United States’ Future Group and Italy’s Generali Group.
By Webster Hughes, Research Associate
About Future Generali: Future Generali is a private insurer in India. It is a joint venture of the United States’ Future Group and Italy’s Generali Group. As of March 31, 2012, Future Generali has investment assets totaling INR 164,553 lakh (USD 295.2 million).
Sources and Additional Resources:
The Economic Times story, “Future Generali launches micro-insurance for rural segment”, http://articles.economictimes.indiatimes.com/2012-07-03/news/32523960_1_…
MicroCapital.org story, July 9, 2012: “MICROFINANCE EVENT: Asia Insurance Review Presents “6th Asia Conference on Microinsurance: Microinsurance as a Growth Catalyst for Insurance to Reach Out to the Masses”, July 24-25, 2012, Manila, Philippines”, https://www.microcapital.org/microfinance-event-asia-insurance-review-pre…
MicroCapital story, April 30, 2012, “MICROCAPITAL BRIEF: Microinsurance Innovation Facility: Market Reaches 500m People, 60% in India”, https://www.microcapital.org/microcapital-brief-microinsurance-innovation-facility-mar…
MicroCapital Story, February 24, 2012, “MICROCAPITAL BRIEF: Indian Women’s Cooperative Vimo SEWA to Become Microinsurance Agent for L&T Insurance”, https://www.microcapital.org/microcapital-brief-indian-womens-cooperative-vimo-sewa-to-become-microinsurance-agent-for-lt-insurance/
Future Generali Statement of Investment Assets, http://www.futuregenerali.in/LifeInsurance/PDF/Public%20Disclosure/Life-…
MicroCapital Universe Profile: Future Generali, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fut…
Browse the MicroCapital Universe and add your entry to the wiki at: http://microcapital.org/microfinanceuniverse/tiki-index.php
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