Mallasurance is a new concept that has been introduced by retail giants that have recently launched insurance companies. The insurance companies are joint ventures between Italy-based Future Generali and Kishore Biyani's Future Group.
The policies will be priced low, with a premium ranging from Rs 49 for Rs 50,000 personal accident cover, Rs 99 for Rs 1 lakh personal accident cover and Rs 199 for Rs 1 lakh home insurance policy.
"Future Generali has designed simple insurance covers that can be easily understood by the customer and can be sold over the counter," said G N Bajpai chairman, Future Generali.
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