Name: IndiaFirst Life Insurance Company Limited
Promoters: Bank of Baroda (44%), Andhra Bank (30%), Legal & General, Plc (26%)
Paid up capital: INR 4750 mn (Rs. 475 crore)
Chairman: Shri SS Mundra, Chairman and Managing Director, Bank of Baroda
Managing Director & CEO: Dr. P. Nandagopal
Incorporated on: 19th June, 2008
Launch of operations (soft launch): 16th November, 2009
Launch: 19th March, 2010 by Shri. Pranab Mukherjee, Honorable Finance Minister, Government of India.
- Crossed the 1 lakh policies mark in just 9 months of operations
- Rs. 100 crore new business premium in just 100 days of operations
- Rs. 200 crore new business premium in less than 200 days - 4.5 months of operations (by 31st March, 2010)
- Rs. 300 crore in under 9 months from inception.
- Rs. 900 crore in 500 days of operation.
Customer Centric Initiatives
- Introduction of product audio visuals and automated IVR
- Our product audio visuals form an essential part of our sales process
- They help provide customers a clear picture of their plan and the benefits and risk factors associated with the same
- Every customer is mandatorily taken through the AV before filling up the proposal form
- Through an in-built application, the customer details then directly get stored in a central database – making it easy to track and measure
- Alternatively, customers also have the option of calling our call center and going through their product details through the automated IVR system
- The standardization of the product AVs and the automated IVR negate human errors and enhance credibility thereby leading to happy customer.
- This is followed through with a verification call from our customer care executives to re-confirm that he has been taken through all the products features and is aware about the risk factors associated with it
Awards and Recognition
- One of the few life insurers to achieve the ISO 9001:2008 certification in 7 months of operations – over 60 key processes certified.
- IndiaFirst Life Insurance receives Dream Employer of the Year Award 2012
- IndiaFirst Life Insurance bags the prestigious Celent Model Insurer Asia Award,2011
- IndiaFirst Life Insurance receives Indy's Media Innovation of the year Award
- IndiaFirst receives Operational Excellence Award at Asian Leaderdhip Awards 2011
- IndiaFirst Life Insurance bags at Indy's Best in Communication Award
- Technology Leader Award - 2011 at the prestigious Indian Insurance Awards
- IndiaFirst receives Asia Pacific HRM Congress Award-2011
- IndiaFirst Life Insurance receives HR Excellence Award for Innovation at 2nd Star News HR & Leadership Awards
- IndiaFirst Life Insurance bags 6th Indy's Community & Social Welfare Award.
- IndiaFirst wins the Golden award for Public Service Campaign at Global PR Conclave 2012
- IndiaFirst wins the award for best HR strategy in line with business at the 6th Employer Branding Awards
- IndiaFirst wins the Silver award for Tabloid Newsletter at Global PR Conclave 2012
- Greentech Silver award for ‘Best HR strategy' in its first year of operations.
- Best Employee Referral Program: 7th Rasbic Awards (Recruitment and Staffing in class awards)
- IndiaFirst receives Best HR strategy award in line with business at the 6th Employer Branding Awards (Regional)
- IndiaFirst bags the Celent's Model Insurer Award (Asia) 2012 for successful implementation of LifeStore - an online distribution channel.
- IndiaFirst receives InfoSecurity magazine's TOP CISO 100 award 2011.
- IndiaFirst receives CIO100 Award (India Edition) from CIO Magazine for the year 2011.
- IndiaFirst receives Information Week magazine's EDGE Award for 2011 for the implementation of Ask Apply Get process.