Mumbai, June 25
th, 2018: IndiaFirst Life Insurance Carrier Limited, a JV between
Bank of Baroda, Andhra Bank and Legal and General (UK), has announced its tie-up with Oxigen
Services India Pvt. Ltd., to establish distribution of its own insurance products at Oxigen retail
outlets.
Ms. R. M. Vishakha, MD and Chief executive officer, IndiaFirst Life Insurance, said, “IndiaFirst Life and Oxigen
have together embarked on a travel to popularize insurance with long term savings for the
micro segment. The micro segment is addressed by every other industry, be it or
telecom. Oxigen, is among the leading suppliers of cash transfers and prepaid recharges as
low as Rs.10. We provide premiums from as much as Rs.500 with a commitment to add future
premiums but no penalty for inability to do this ”.
Pramod Saxena, Chairman and MD, Oxigen Services India Pvt. Ltd. Said, “We are pleased to
enter into this tie-up as corporate broker with IndiaFirst Life. Our partnership with IndiaFirst Life
is aimed at creating a selling model to provide insurance to the masses throughout more than 1 outlets that may potentially be distributors. This will support us to expand distribution
via our own PoS network and extend powerful and economically life insurance coverage
solutions formulated by IndiaFirst Life Insurance. ”IndiaFirst Life will offer PoS Insurance Khata, a distinctive product that allows a customer to
increase his life pay and create savings in a manner that suits his spending budget.
“The item allows flexibility of depositing top into an account and establishing the
insurance cover with return of premium after 5,7 or 10 years based on the term chosen. There’s
guaranteed returns for all premiums paid when it’s only one premium. ” RM Vishakha added.
In addition, a comprehensive digitalized customer interface with eKYC, will offer best ‘value
for money’ to the end clients and a fully integrated smooth technology support at the
back-end makes this product economical.
“This association can bring us closer to provide personal danger protection to all sections of society
although our strengths of targeted distribution and digitally permitted insurance solutions for
the masses. ” .Expart Lab 7617666862
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