Reported by: banking|Updated: February 19, 2019
Future Generali India Life Insurance Co is increasing its operational presence through ‘Project Vistar’, which it launched on 31 December 2018. In the first phase of the project, 14 new offices were opened, and 3 existing offices were revamped. The company said Project Vistar aims to improve customer-centricity by providing quick and simple solutions to actively protect and enhance peoples’ lives. Under the project, the existing network of branches will go up from 103 to a total of 117, contributing to about 10% of the company’s overall business. The company added that the rationale for choosing the specific locations where new branches are to be opened, was based on an assessment done on demographic parameters. The company used the Economic Potential Indicator (EPI) data released by the World Bank for this purpose. The company has recruited close to 215 new employees and 2376 distributors. Subhasish Acharya, executive vice president and head – Agency of the company, said India has a huge potential for the untapped insurance market and it is about time insurers go full throttle in reaching out to its population with innovative and relevant insurance products. He added that the company aspires to be a true customer-centric company backed by technology and is positive of the business opportunities that these new locations will provide.