Liberty Videocon to double business during current fiscal

Liberty Videocon General Insurance, a joint venture between Videocon Industries and Liberty Citystate Holdings Pte Ltd, plans to double its business during the current fiscal and also launch a product in the retail health segment.
"We closed the year 2013-14 with gross underwritten premium (GWP) at Rs 131 crore as on 31 March, 2014.
"However, we are looking at achieving a GWP of Rs 250 crore during the current fiscal, which shows a growth of around 100 per cent in business when compared to the last fiscal," Liberty Videocon General Insurance's National Head of Commercial Lines Underwriting and Risk Engineering Milind Kolhe told PTI.

He said the company plans to launch a product in the retail health segment for which regulatory approval is already in place. "Apart from it, we plan to launch a few more add-on covers on our already existing motor insurance product," he said.
The company, which has entered the second year of its operations, launched infra red thermography risk assessment for commercial insurance business clients dealing in electrical equipment, production machinery and fired equipment such as boilers and furnaces today.
This would help in diagnosing problem areas, determine their severity as well as identify problem areas which results in prevention of emergency maintenance, fewer business interruptions from equipment downtime and improved overall productivity as well as profitability, he said.

"We will provide this facility free of cost to our customers," he added.