• Company Background
• Culture And Values
• Board Of Directors
• Management Team
• Sales Process
• Customer Care
• Employee Care
• Investment Philosophy
• Careers With Us
• Corporate Social Responsibility

• Our Products

Origin

IndiaFirst originated as a joint between India’s two large public sector banks – Bank of Baroda and Andhra Bank and UK’s leading financial and investment company Legal & General. The MoU between the partners was signed in New Delhi on 16th November, 2007, in the presence of all the promoter companies . The joint venture company was known as ‘Baroda L&G Life Insurance – In partnership with Andhra Bank’.

IndiaFirst Life Insurance

We received our final R3 approval from the IRDA on 5th November, 2009 and got our first product approval on 9th November, 2009. On the same day, we launched our new corporate identity at a press conference in Mumbai in the midst of our shareholder, start up employees and media.

While there was a time lag between the MoU and the R1 approval, we made up for this later - achieve one of the fastest approval to launch timeframe.

The newly formed company, IndiaFirst Life Insurance started its operations through a soft launch across 3028 branches of its promoter bank – Bank of Baroda on 16th November, 2009. In one of the fastest run-ups, the company was able to activate 3237 of Bank of Baroda and 1569 of Andhra Bank branches before the end of the calendar year 2009.

Going nation-wide

We however, formally launched our operations across the country on 19th March, 2010 in New Delhi at the hands of Honorable Finance Minister, Government of India, Shri Pranab Mukherjee.

On the occasion of our nation-wide launch, Shri. Pranab Mukherjee said, “Insurance has a huge market potential and is a key area where we require more penetration and reach. The insurance sector has immense opportunity to grow not in terms of just providing life insurance, but also in its contribution to the overall economic growth, by augmenting savings. I hope this life insurance joint venture penetrates hitherto uninsured areas in rural India and generates more business opportunities.”

Entering corporate business

We then went on to launch our corporate business (group business) across the country from Andhra Pradesh on 21st April, 2010. The Honourable Chief Minister of Andhra Pradesh, Shri K Rosaiah, launched the company’s first group insurance policy.

Way forward

We do believe taking care of our customers' interests is the best way to promote our business. We have come up with a host of initiatives which have helped us achieve many ‘Firsts'. Our initial product range covers the typical needs of protection (term insurance), savings, education and retirement. We also have a wide range of group insurance products ranging from credit life, term and employee liability (gratuity and leave encashment) plans. We will follow this with a whole range of health, pension and wealth accumulation plans shortly.