Future Generali to extend presence in west

After collecting net premiums more than Rs 100 crore within 12 months of its launch, insurance firm Future Generali has drawn extensive penetration plant for western region.

The firm has set up more than 30 offices in Maharashtra, Madhya Pradesh and Gujarat to enter more than 25 major tier-three and tier-four towns.

Future Generali, a joint venture between Kishore Biyani’s Future Group and Italy-based insurance giant Generali Group, has already established 46 branches in 31 cities across India and has more than 7,000 licensed advisors.

The firm is taking advantage of Future Group’s mall network to make available its life and non-life category insuarnce products at 280 malls including outlets of Big Bazar by March 2009.

Speaking to reporters after launching its second office in Pune, Future Generali CEO Jayant Khosla said, “We are probably the first insurance company to write premiums worth Rs 100 crore within a year of operations. As western zone provides excellent business opportunities, we plan to have a dense network in Maharashtra and Madhya Pradesh. Selling insurance products at retail stores is our strength, which has helped us grow faster than others.”

Future Generali provides more than 11 products in life inusrance segment while it has more than 104 products in the non-life insuarnce segment. “Our aim is to set up 100 offices each for life and non-life insurance segment within a year's time. Apart from this, our products available at retail centres and malls are receiving good response,” he added.

Future Generali has set up offices in smaller towns like Jalgaon, Aurangabad, Nashik, Amaravati, Nagpur, Jalna, Vardha and Nanded. It has offices in Indore, Bhopal Jabalpur and other centres in Madhya Pradesh. Citlies like Vadodara, Surat, Ahmedabad and Gandhinagar also have Future Generali presence.