Private sector general insurer, Future Generali India Insurance has launched a new micro-insurance product by the name ‘Future Sampoorna Suraksha policy’.
This plan is targeted at rural segment, to provide protection to their business.
The plan covers Hospital cash benefit, personal accident cover, building and furniture, robbery and burglary, farm produce, agriculture pump set, cart protection and liability and pedal cycle.
Company will also distribute this product through its bancassurance network. Company also works with some large micro-finance institutions in the north and south and has around 15 lakh members across these institutions.
Penetration of insurance in rural markets is very low as compared to national average hence; company with this product expects to tap this segment. Company also expecting to attract many first time buyers with this product, which otherwise would stay away.
Future Generali India is a joint venture between Future Group and Italy based Generali Group.