Shri Ram Group’s Non -Life Private Insurance Unit Shri Ram General Insurance has started a separate vertical to focus on rural insurance. In this, the company will recruit 1,500 employees and insurance products will be available through a three-year plan for rural expansion by FY 25 as 25,000 point-off-cell (POS).
Next year, Shriram General Insurance plans to focus on 600 tehsils where insurance is low. For this, areas with population between 20,000 and 1 lakh will be reached. The average income of people in such areas usually ranges from ₹ 20,000 to ₹ 25,000, so the Samyord will be comparatively smaller in many cases.
According to a press release, the insurer will introduce simple products that may be important to the rural population. According to the Aadhaar and population of the customers, Shri Ram General Insurance has created Personal Accident Insurance Covers. Apart from this, the company will introduce long-term two-wheeler insurance, goods carrying commercial vehicle insurance and policy for small businesses, assets and shops.
Sriram General Insurance MD and CEO, Anil Kumar Aggarwal (MD & CEO, Shriram General Insurance) said, “On the occasion of launch,” India’s farmers and their agrarian business play an integral role in the growth of the country. Rural insurance will ensure that the future of family members in rural areas will always be safe and uncertain. The common man is placed at the center of business efforts. We have ensured that it is easy to understand our rural insurance plans, it is proper to be compensated and help people in rural areas become self -sufficient.
