IndiaFirst Life Insurance is planning to launch a new micro-insurance product, a move which will mark the company’s entry to the segment.
IndiaFirst Life Insurance managing director and chief executive officer P Nandagopal was quoted by The Hindu Business Line that the life insurance company will roll out the new product on a pilot basis this financial year.
Go deeper with GlobalData
The company is currently in talks with the Insurance Regulatory and Development Authority (IRDA) for the proposed product launch.
It is planning a pan-India rollout of micro-insurance and across all product categories, Nandagopal said.
IndiaFirst, a joint venture between Bank of Baroda, Andhra Bank and British firm Legal & General, started operations in November 2009.
The company has recently completed four years in the Indian life insurance industry, and is looking to break even by the sixth year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
