Future Generali launches Future Generali Health
PRESS (FGH) –
RELEASE In-house cell for servicing Health Insurance clients
Mumbai, October 26, 2010: Future Generali India Insurance Company Ltd will launch Future
Generali Health (FGH), an in-house cell for servicing Health Insurance clients, from November
01, 2010. All health insurance policies issued from November 01, 2010 will be serviced in-house
through FGH. Future Generali will thus service its entire health insurance business directly,
gradually replacing Third Party Administrators (TPAs) through this in-house cell, located at its
Chinchwad in Pune.
The unit will start with a team of 40 motivated and experienced professionals with proven track
record in health insurance. The team will also consist of medicos and hospital management
graduates. The entire health vertical of the company, which includes health call centre,
underwriting, claims and networking, will operate from this single location.
On the occasion of this announcement, K. G. Krishnamoorthy Rao, CEO, Future Generali India
Insurance Company said "Health Insurance is a growing line of business with a very high potential.
Future Generali is a serious player in Health Insurance and looks at growing its market share.
Service level is the most important differentiator and to ensure we provide the finest customer
experience, we have decided to directly service our clients through our in-house servicing unit
Future Generali Health (FGH).
Today health insurance consists of around 15% of Future Generali’s overall business and we look
at increasing this to 20% over the next few years. The company will be concentrating on retail
health and targets to increase its share in this segment and has targeted an overall health
premium of `110 crores. We will look at aggressively increasing this in the next few years,” added
This initiative will help Future Generali in capturing, collating and analyzing high quality data that
will contribute towards product development and pricing. Efficient data management capabilities
will also help structure tailor made solutions for corporate clients thereby ensuring a combination
of excellent service and cost management.
FGH will start with over 1000 hospitals in its network and will expand the list as business and
requirements grow. The Company is also creating a network of Diagnostic centers across country
for pre-policy check up.
Recently, Future Generali has revised its flagship product, Health Suraksha, making it more
customer friendly. It is a hospitalization expenses product with sums insured ranging from `1 lac to
`10 lacs and the product has plans with coverage and pricing suitable for rural as well as urban
clientele. The company earlier launched a Critical Illness Product – Future Criticare, besides
having few more products in the pipe line.
Future Generali has products that cater to the needs of all segments of the society, including the
rural and micro health insurance sector.
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Future Generali India Insurance Co Ltd, Reg No: 132, Registered Office: 001, Delta Plaza, 414 Veer Savarkar Marg, Prabhadevi,
Mumbai – 400025
The liability of Future Group and the Generali Group is limited to the extent of their shareholding in the Company. Insurance is the
subject matter of Solicitation
ABOUT FUTURE GROUP AND GENERALI GROUP
About the Company:
Future Generali is a joint venture between the India-based Future Group and the Italy-based Generali
Future Generali is present in India in both the Life and Non-Life businesses as Future Generali India Life
Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd.
Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s leading
business houses with multiple businesses spanning across the consumption space. While
retail forms the core business activity of Future Group, group subsidiaries are present in
consumer finance, capital, insurance, leisure and entertainment, brand development, retail real
estate development, retail media and logistics.
Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million square feet
of retail space in 71 cities and towns and 65 rural locations across India. Headquartered in
Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian
stock exchanges. The company follows a multi-format retail strategy that captures almost the
entire consumption basket of Indian customers. In the lifestyle segment, the group operates
Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value
segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch
and feel of Indian bazaars with the choice and convenience of modern retail.
The group’s specialty retail formats include sportswear retailer, Planet Sports, electronics
retailer, eZone, home improvement chain, Home Town and rural retail chain, Aadhaar, among
others. It also operates popular shopping portal, www.futurebazaar.com.
Future Capital Holdings, the group’s financial arm, provides investment advisory to assets
worth over $1 billion that are being invested in consumer brands and companies, real estate,
hotels and logistics. It also operates a consumer finance arm with branches in 150 locations.
Other group companies include, Future Generali, the group’s insurance venture in partnership
with Italy’s Generali Group, Future Brands, a brand development and IPR company, Future
Logistics, providing logistics and distribution solutions to group companies and business
partners and Future Media, a retail media initiative.
The group’s presence in Leisure & Entertainment segment is led through, Mumbai-based listed
company Galaxy Entertainment Limited. Galaxy leading leisure chains, Sports Bar and Bowling
Co. and family entertainment centres, F123. Through its partner company, Blue Foods the
group operates around 100 restaurants and food courts through brands like Bombay Blues,
Spaghetti Kitchen, Noodle Bar, The Spoon, Copper Chimney and Gelato.
Future Group’s joint venture partners include, US-based stationery products retailers, Staples
and Middle East-based Axiom Communications.
Future Group believes in developing strong insights on Indian consumers and building
businesses based on Indian ideas, as espoused in the group’s core value of ‘Indianness.’ The
group’s corporate credo is, ‘Rewrite rules, Retain values.’
THE GENERALI GROUP
The Generali Group is a leading player in the global insurance and financial markets.
Established in Trieste in 1831, today the Group is one of Europe’s largest insurance providers
and the European biggest Life insurer. It is also one of the world’s top asset managers with
assets totalling more than € 400 billion. With an employed sales force of more than 100,000
people serving 70 million clients in 68 countries, the Group occupies a leadership position in
Western Europe and an increasingly important place in Eastern Europe and Asia.
The Group strategy aims to consolidate Generali’s pre-eminence on its key markets and
achieve a premier position on markets with high growth potential, establishing its leadership in
Since its establishment, the Generali Group has always held a reputation for its capital and
financial strength. Its solidity derives from prudent investment management and a focus on
achieving a correct match between risk and medium/long-term profitability.
Generali Group is one of the leading insurance groups in Europe, with a 2009 total
premium income of more than € 70 billion
It is present in 68 countries
It has 70 million clients worldwide
It has 85,000 employees
It has over € 400 billion of assets under management
High rating assigned by the international rating agencies:
o A.M. BEST: A+ STABLE
o Standard & Poor’s: AA- STABLE
o Fitch Ibca: AA- STABLE
o Moody’s: Aa3 STABLE