IndiaFirst Life Launches 18 New Agency Branches in Less Than Three Months
Chennai, 11th December 2024: IndiaFirst Life Insurance Company Limited (IndiaFirst Life) announced the launch of 18 Agency branches. This strategic expansion, under the umbrella of #AgencyNirmaan, will enhance the company's presence across India, bringing it closer to providing comprehensive life insurance solutions to more communities in the country.
Rushabh Gandhi, Managing Director & CEO, IndiaFirst Life, said, "The expansion of our Agency channel across the length and breadth of the country is a critical move to further fortify our presence in India. Complementing our well established Bancassurance business, it is in line with our strategy to widen and diversify our distribution network, transforming us into a multi-channel distribution organisation. We are looking to establish ~100 Agency branches across the country over the next two to three years."
Sumeet Sahni, President – Agency Channel, IndiaFirst Life, stated, "Our pan-India expansion underlines our focus on developing a strong Agency channel. #AgencyNirmaan strategically positions us to build a strong branch network across India to cater to the last mile customer. By leveraging our distribution network, we aim to provide need-based insurance solutions and enhance financial security for customers. Our new Agency branches will create significant employment opportunities whilst contributing to a region's socio-economic development."
IndiaFirst Life is committed to its #CustomerFirst philosophy. The newly established Agency branches are equipped with state-of-the-art facilities and staffed by professionals offering personalized insurance solutions. Through these branches, IndiaFirst Life will engage in community outreach to emphasize the importance of insurance and financial planning to further contribute to the regulator's goal of "Insurance for all by 2047."
With a robust network, innovative products, and a customer-centric approach, IndiaFirst Life is well poised to create a mark in the industry.
About IndiaFirst Life Insurance Company Ltd: Headquartered in Mumbai, IndiaFirst Life Insurance Company Limited (IndiaFirst Life), with a paid-up share capital of INR 754 crores, is one of the country's youngest life insurance companies. Its current shareholders include Bank of Baroda, Union Bank of India, and Carmel Point Investments India Private Limited, which hold 65%, 09%, and 26% stakes in the company. Carmel Point Investments India Pvt Ltd. is incorporated by Carmel Point Investment Ltd, a corporate incorporated under the laws of Mauritius and owned by private equity funds managed by Warburg Pincus LLC, New York, United States. The company's key differentiator is its simple, easy-to-understand products that are fairly-priced and efficiently serviced. For details, please visit https://www.indiafirstlife.com/
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