Upbeat about its innovative ‘mallassurance’ channel, Future Generali, the insurance joint venture between Future Group of India and Generali Group of Italy is targeting around 30 per cent of policies from malls for the financial year 2008-09.
The insurance company has introduced an innovative delivery channel of selling insurance offerings across life and non-life categories through all Future Group retail outlets across the country.
“The mallassurance model which reaches out to customers at retail outlets seems quite promising as far as generating policies are concerned. By the end of the financial year, we expect around 30 per cent policies from our Future Group malls itself,” said Manoj Iyer, vice president and zonal branch head (central zone), Future Generali.
By the end of FY 2008-09, the company expects around four lakh policies to be registered and has set a business target of Rs 450 crore, said Iyer. By October, Future Generali had already crossed one lakh policies and around 3.5 lakh customers.
Meanwhile, according to Deepak Sood, chief executive officer of Future Generali, under the mallassurance model, the company is planning to set up 280 outlets.