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IndiaFirst Life Insurance , a joint venture between Bank of Baroda and Andhra Bank along with the UK's leading risk, wealth and investment company Legal & General, on Wednesday announced the opening of its first Financial Planning Centre (FPC) in Chennai. The centre was inaugurated by Dr. P. Nandagopal, managing director & CEO, IndiaFirst Life Insurance.
The company will offer its entire range of services, including new business application processing, policy servicing request processing, advisor licensing processing, advisor/ sales training, claim intimation processing and document collection and record management for business applications.
"Our Financial Planning Centers are one more step towards moving closer to our customers - both potential as well as existing. We are sure that these FPCs will help take our service standards to the next level," said Dr. Nandagopal.
While this is the first FPC in Tamil Nadu, the company has been present in the state through close to 250 outlets of its partner banks.
"We aim to reach out to a wider set of customers through our alternate channel. We expect to enhance our overall profitability and cost efficiency while building a stronger connect with our customers through the launch of our alternate channel and FPCs," added Dr. Nandagopal.
There will be nearly 1000 advisors attached to each FPC along with IndiaFirst employees. The advisor lounge would be used by advisors and customers to complete their transactions. Customers can also visit the FPC to meet the company's relationship managers and analyze their overall financial plans.
The company has generated approximately Rs. 25 crores through their Bancassurance model in the last 500 days of operations from Tamil Nadu. With the launch of the FPC, the company expects its advisors to contribute 30- 40 percent of the business over a period of 3-4 years. The company proposes to set up such FPCs across important cities in India.
Source :- The Economic Times |
