Future Generali Life Insurance Company Limited
Future Generali India Life Insurance Company Limited is a leading insurance company that strives to provide its customers with a wide range of life insurance solutions to help them effectively manage their financial needs. Established in 2006 and starting its operations in 2007, its primary goal is to offer diverse plans that safeguard families, protect savings, present various investment options, ensure a secure education for children, support retirement planning, etc.
It is a joint venture between two esteemed entities – the Generali Group, a global insurance group ranked among the world's top 50 largest companies, and the Future Group, a prominent retailer in India. Future Generali India Life Insurance Company Limited’s commitment to excellence is evident in its industry-leading product portfolio, which caters to customers across all stages of life.
During the financial year spanning April 2022 to March 2023, it issued an impressive 14,913 policies and received 206 claims.
Awards & Recognition
Future Generali India Life Insurance Company Limited has received numerous prestigious awards, showcasing its commitment to excellence and innovation -
At the NAVABHARAT BFSI SUMMIT AND AWARDS 2022, it was honoured with the ‘Company of the Year’ award in the mid-segment category, affirming its position as a leader in the industry.
Its SMART Academy was honoured with the prestigious ‘Golden Peacock National Training Award’ in 2020, affirming its commitment to providing exceptional training and development opportunities.
At the 2nd edition of the Chief Strategy Officer Summit & Awards 2020, Future Generali India Life Insurance Company Limited was acknowledged for its excellence in strategy planning, solidifying its position as a strategic leader in the industry.
It secured a place among the Best 50 PCI companies in 2019, winning the ‘People Capital Index (PCI) Award’ for the third consecutive time. This accolade recognises its dedication to prioritising people development within corporate India.
Claim Settlement Ratio
The Claim Settlement Ratio (CSR) is a vital indicator of an insurance company's ability to handle claim settlements effectively. In the fiscal year 2021-22, Future Generali India Life Insurance Company Limited showcased an outstanding CSR of 96.15%. This means that it successfully resolved a significant majority of the claims it received, demonstrating its expertise in claims settlement. Its Claim Amount Settlement Ratio stood at 89.60% during the same period. This ratio reveals the proportion of the claim amount they received that they have paid out.
When assessing an insurance company, it is important to analyse its CSR track record over the years. Maintaining a consistently high CSR indicates its efficiency and reliability in settling claims.
The Solvency Ratio serves as a crucial measure to assess the financial strength and stability of an insurance company. In India, the Insurance Regulatory and Development Authority (IRDAI) has established a minimum solvency ratio of 150% for insurance companies. This requirement ensures that insurance companies possess ample resources to meet their claim and other financial commitments.
As of March 31, 2023, Future Generali India Life Insurance Company Limited proudly maintains an impressive solvency ratio of 196%. This signifies that it enjoys a robust financial position, surpassing the IRDAI's minimum requirement by a considerable margin. It possesses substantial financial resources to fulfil its responsibilities without encountering any financial difficulties.
If you have any questions or need assistance with your insurance policies, you can easily reach out to Future Generali India Life Insurance Company Limited's customer service team by calling their toll-free number: 1800-102-2355.
For any queries or concerns, you can also get in touch with Future Generali India Life Insurance Company Limited's customer support team by sending an email to firstname.lastname@example.org.
Future Generali India Life Insurance Company Limited offers customer support through various alternative communication channels as well –
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