SBI Life taps little shops to sell insurance
Coromandel, which manufacturers of fertilisers and pesticides, is the flagship company of the Rs 15,907-crore Chennai-based Murugappa Group. It has 427 Mana Gromor retail outlets that cater to the needs of rural community with a full range of agricultural inputs and services, home and family items.
The company will offer SBI Life Insurance products to its rural customers through these retail outlets across the state of Andhra Pradesh. It would focus on SBI Life’s small-ticket unit-linked insurance policies (Ulips) and traditional plans. Each centre would cover 30-40 villages having 5,000 farm families in a 20-km radius.
Anand Pejawar, executive director, marketing of SBI Life, said. “Our tie-up with Coromandel International is part of our combined strategy to further support our rural reach and get a wider segment of the rural population under insurance cover. We expect Coromandel to surface as one of the significant regional partners in the years to come,”
A dedicated senior insurance professional would be positioned in Mana Gromor to provide need–based insurance solutions to the rural farmer community. In addition, in the second phase, another six dedicated insurance managers will be analysis farmers, one each for each of the six zones. Other companies, which use the rural kirana store network, include Max New York Life Insurance and Future Generali Life Insurance.
Similarly, Future Generali Life Insurance, which started its operation in April 2008, plans to offer custom-designed, guaranteed-return products in rural areas and has tied up with kirana stores to distribute products. In the first phase, the company plans to roll out its products in Maharashtra, Gujarat,
|
|
