Virtual assistant for IndiaFirst Life customers, to provide real-time customer resolution and support insurance transactions

India, 22 August, 2017 – IndiaFirst Life Insurance, promoted by Bank of Baroda, Andhra Bank and Legal & General, announced the launch of its chatbot, IRIS (IndiaFirst Responds), today.

IRIS is equipped with multiple functionalities such as product descriptions, premium statements and notices, fund value inquiries and application status to the customers. This will strengthen self-service options for the company’s field sales and customers, reducing dependence on contact centres for basic requests or information, and a modernized process that will enhance the overall customer experience.

Announcing the launch, RM Vishakha, MD & CEO, IndiaFirst Life Insurance said, “ IRIS, (IndiaFirst responds): A chat bot, a virtual assistant that is available 24*7 to our customers, distributors and employees is our viable adoption of technology to provide our stakeholders with a superior and consistent performance.

We are growing at 137% Y-o-Y in retail new business APE and we innovate to provide a robust customer service process for our growing base of customers, in line with our philosophy of ‘customer first’.”

Mohit Rochlani, Director – Operations & IT, IndiaFirst Life Insurance, added, “Today, customers are looking for instant solutions and IndiaFirst Life Chatbot enables to ask any question and get fast and real time response, through live chat experience. The Real-time expense management adds a layer of improved functionality and simplifies the day-to-day functioning of our sales force. This will help them focus on what’s most important to us as team, which is offering the customer the best product and service”.

The company has also rolled out a unique solution through an app called Knowledgebase which empowers the sales teams to search and query on various products and processes in the organisation. Using this solution, sales team can get correct and accurate responses to their queries instantly while on the go.

About IndiaFirst Life Insurance:

Headquartered in Mumbai, IndiaFirst Life Insurance, with a paid-up share capital of INR 625 crore, is one of the country’s youngest life insurance companies. It is promoted by two of India’s largest public sector banks – Bank of Baroda and Andhra Bank along with UK’s leading risk, wealth and investment company Legal & General. Bank of Baroda holds a 44 percent stake in IndiaFirst, while Andhra Bank and Legal & General hold a 30 percent and 26 percent stake respectively. IndiaFirst believes it can differentiate itself through simple, easy to understand products that are fairly priced and efficiently serviced. Today, IndiaFirst Life is present in over 1,000 cities and towns across the country through 10,000+ points of sale. The company has garnered over INR 10,858 crore of assets under management as on March 31, 2017.

For details please visit: www.indiafirstlife.com

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RM Vishakha recognised for her outstanding contribution to the industry

Mumbai, June 26th, 2017: RM Vishakha, MD & CEO, IndiaFirst Life Insurance, was honoured with the ‘Individual Achievement’ award at the ASSOCHAM Insurance Excellence Awards ceremony held, in Kolkata, recently. The awards were presented by Shri Vivek Gupta, Hon’ble Member of Parliament.

The ceremony was part of the National conclave on “The Changing Dynamics of Insurance”, by ASSOCHAM (Associated Chambers of Commerce and Industry of India).

“I’d truly thank ASSOCHAM for recognizing my contribution to the industry. My journey has been a challenging yet fulfilling one, guided by one simple philosophy of constant enhancement to bring value and convenience to every layer of the social pyramid, in the true sense.” said, RM Vishakha, MD & CEO, IndiaFirst Life Insurance.

The Individual Achievement Award, evaluated aspects around outstanding leadership qualities displayed throughout ones career including major initiatives, improvements and successes in business and the market.

Vishakha, has successfully infused the ‘customer first’ philosophy at IndiaFirst Life Insurance. Mass-market financial awareness endeavours, together with creation of efficiently serviced micro-insurance products are some of key differentiators IndiaFirst Life has developed, under her leadership.

About IndiaFirst Life Insurance

Headquartered in Mumbai, IndiaFirst Life Insurance, with a paid-up share capital of INR 625 crore, is one of the country’s youngest life insurance companies. It is promoted by two of India’s largest public sector banks – Bank of Baroda and Andhra Bank along with UK’s leading risk, wealth and investment company Legal & General. Bank of Baroda holds a 44 percent stake in IndiaFirst, while Andhra Bank and Legal & General hold a 30 percent and 26 percent stake respectively. IndiaFirst believes it can differentiate itself through simple, easy to understand products that are fairly priced and efficiently serviced. Today, IndiaFirst Life is present in over 1,000 cities and towns across the country through 10,000+ points of sale. The company has garnered over INR 10,000 crore of assets under management as on March 31, 2017. For details please visit: www.indiafirstlife.com

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Y-o-Y growth of 82% in Individual APE

13^th month persistency recorded at 74%

Mumbai, May 25, 2017: IndiaFirst Life Insurance launched in FY 2010, promoted by Bank of Baroda, Andhra Bank and Legal & General launched, announced an annual profit for the 3^rd consecutive year of Rs.35 crores, over 4 times the previous fiscal.

The company witnessed a new retail premium collection of Rs. 403 crore by the end of FY 2016-17, as against Rs. 221 crores in FY 2015-16, recording a y-o-y growth of 82% in Individual APE.

Ms. RM Vishakha, MD & CEO, IndiaFirst Life Insurance said, “We are delighted to have an individual APE growth rate of 82% y-o-y. We have substantially surpassed our targeted y-o-y growth. This is purely a reflection of an effective products, processes and distribution strategy resulting in improved productivity and reduced operational costs.”

IndiaFirst Life Insurance, the 23rd entrant amongst 24 Life Insurance companies ranks, 9th in Gross Premium Collection with Rs. 1671 crores in FY 2016-17 with Asset under Management (AUM) of Rs. 10858 crores as on 31^st March 2017.

Mr. Rushabh Gandhi, Director- Sales & Marketing, IndiaFirst Life said, “These numbers are indeed momentous for us. The performance numbers of FY 2016-17 for premium, profits and productivity have all hit a new crescendo. We take pride to be among the fastest growing life insurance brands, in a sector where other top players have existed for over 15 yrs.”

The13th month persistency of the company surged up to 74% in FY 2016-17 viz-a-viz 64%, in the previous FY 2015-16.

“We intend to continue our growth trajectory in FY 17-18 by further strengthening our multi distribution capabilities”, Mr. Gandhi added.

About IndiaFirst Life Insurance

Headquartered in Mumbai, IndiaFirst Life Insurance, with a paid-up share capital of INR 625 crore, is one of the country’s youngest life insurance companies. It is promoted by two of India’s largest public sector banks – Bank of Baroda and Andhra Bank along with UK’s leading risk, wealth and investment company Legal & General. Bank of Baroda holds a 44 percent stake in IndiaFirst, while Andhra Bank and Legal & General hold a 30 percent and 26 percent stake respectively. IndiaFirst believes it can differentiate itself through simple, easy to understand products that are fairly priced and efficiently serviced. Today, IndiaFirst Life is present in over 1,000 cities and towns across the country through 10,000+ points of sale. The company has garnered over INR 10,858 crore of assets under management as on March31, 2017. For details please visit: www.indiafirstlife.com

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 A unit linked, non-participating endowment plan with a provision to customize the premium payment term and choice of funds for investment

• Policy with 3 investment strategies and 7 different fund options
• Tax free regular monthly income, with systematic partial withdrawal feature
• Reward feature for long-term investment:Loyalty Advantage, Loyalty benefit and Profit booster

Mumbai, October 18,2016: IndiaFirst Life Insurance, a joint venture between Bank of Baroda, Andhra Bank and Legal & General (UK) today, announced the launch of HNI focused insurance plan called ‘IndiaFirstWealthMaximizer’.

The product is a unit-linked plan that provides a benefit of creating wealth through multiple investment strategies along with life insurance.

Speaking on this, RM Vishakha, MD & CEO, IndiaFirst Life insurance said, “We understand that creating wealth is essential for HNI’s to build legacy. Wealth Maximizer by IndiaFirst is a comprehensive policy to build, grow, and accumulate wealth.”

The unique feature of systematic partial withdrawal offers flexibility to receive regular income for chosen years from the fund. The policyholder has the option to tide over short term liquidity requirements during the tenure of the plan.

Rushabh Gandhi, Director- Sales & Marketing, IndiaFirst Life Insurance said, “Insurance touches lives, it is imperative that we assist our customers not only to enhance wealth and offer insurance benefits but also, offer flexibility that enables them to stay committed to their long term goals.”

In addition, Loyalty benefits, profit booster and loyalty advantage are the long term benefits of this product.

“This policy not only provides distinctive fund options but also has a low cost structure to optimize returns. From a customer outcome perspective we are confident that Wealth Maximizer is amongst the best long term savings product available in the market, today.” He added.

The product allows the policyholder to choose from three strategies to ensure getting optimum returns. The Automatic Trigger Based Investment Strategy, enables steady growth. This allows to transfer positive returns to relatively safer funds, building a safety net around the returns. The Fund Transfer Strategy, enables to maintain organized portfolio. It offers toinvest the premium in the equity and debt market, in a systematic manner. The Age Based Investment Strategyenables well balanced portfolio. It offers to adjust the risk appetite to policyholder’s age.

IndiaFirst Life Insurance Wealth Maximizer Plan will be available with the option of selecting three investment strategies.

Key features of the product

• Policy term applicable between 10 to 85 years, depending on age under the regular premium policy.
• Avail unlimited free switches or re-direct your premium to get the maximum benefit out of your money
• Tailor the policy to suit your needs through flexible term and premium paying options
• Get tax benefits on the premiums you pay and benefits you receive as per prevailing income tax
• The policy has exclusive add-on benefits that include Loyalty Benefits, Profit Booster and Loyalty Advantage
• Death Benefit in the policy ensures that none of the dreams of your loved ones are compromised even in your absence
• Limited premium and single premium have different terms and entry age conditions.
• Premium paying modes include Single, Limited and Regular Premium paying options
• Minimum premium investment option is INR 20,833 monthly for regular plan
• Payment terms include yearly, half-yearly, quarterly and monthly plans
• The policy does not offer any liquidity for the first 5 years

About IndiaFirst Life Insurance

Headquartered in Mumbai, IndiaFirst Life Insurance, with a paid-up share capital of INR 625 crore, is one of the country’s youngest life insurance companies. It is promoted by two of India’s largest public sector banks – Bank of Baroda and Andhra Bank along with UK’s leading risk, wealth and investment company Legal & General. Bank of Baroda holds a 44 percent stake in IndiaFirst, while Andhra Bank and Legal & General hold a 30 percent and 26 percent stake respectively. IndiaFirst believes it can differentiate itself through simple, easy to understand products that are fairly priced and efficiently serviced. Today, IndiaFirst Life is present in over 1,000 cities and towns across the country through 10,000+ points of sale. The company garnered over INR 10,000 crore of assets under management as of 4^st October, 2016. For details please visit: www.indiafirstlife.com

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