Life insurance plan in Mumbai
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IndiaFirst Life Insurance is the youngest Life Insurance company in India with a rich legacy of over 360 years of combined service of its promoters - Bank of Baroda, Andhra Bank and Legal & General.This joint venture brings together a real understanding of the Indian consumers by the promoter banks with international best practices developed by Legal & General. Shri. Headquartered in Mumbai, with a capital base of Rs. 455 crore we are one of the most capital efficient Life Insurance companies in the industry today. Bank of Baroda holds a 44 per cent stake in IndiaFirst, while Andhra Bank and Legal & General hold a 30 per cent and 26 per cent stake respectively.We have already achieved substantial progress during our first year of operation. We set up new benchmarks in bancassurance in terms of branch activisation, productivity and customer friendly sales processes. We aim to place our customers ‘First’ in everything we do and believe we can differentiate ourselves through simple, easy to understand products, fair price, high quality service and honest advice.We have initially focused on the bancassurance model leveraging the existing branch network of over 4,500 branches of our promoter banks across the country. We Plan to further strengthen our distribution reach by launching our alternate channel of distribution.This combination of domain expertise, customer knowledge, product innovation and nationwide reach has helped us cross the 1 million policies mark since we commenced operations and establish a customer base spread across more than 1000 cities and towns in India.Our initial product range covers the typical needs of protection (term Insurance), savings, education and retirement. We will follow this by a whole range of wealth accumulation, health, saving, investments and group Insurance plans.
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