Edelweiss Tokio Life looks at expanding distribution capabilities in Rajasthan
Insurer also observes Organ Donation Awareness Month in the region
Jaipur, November 15, 2019: With an unmoving resolve to create a robust quality of business, and maximise presence in the region, Edelweiss Tokio Life is exploring like-minded partnerships in Rajasthan.
Abhishek Gupta, Chief Marketing Officer, Edelweiss Tokio Life Insurance said, “As Rajasthan is a vital part of the industry, we plan to continue growing our presence here through not only our agency and direct channels but also our partnerships with brokers and corporate agents. Our focus will be to continue building a multi-channel distribution network that will be easily accessible to our customers in the region.”
The insurer has seen about 5% growth in its employed workforce in the region since FY 2018 and also works with over 700 personal finance advisors, known commonly as agents. Additionally, it also has partnered with insurance brokers including Anand Rathi, Instapolicy and Bonanza.
Edelweiss Tokio Life has a great emphasis on keeping its quality of business buoyant. Despite its relatively recent foray into the sector, the insurer reported a persistency ratio of 83% and a claim settlement ratio of 95.82% in FY 2018-19.
“Our belief is that the quality of business determines not only a customer’s perception but how the company is contributing back to the society as corporate citizens. At Edelweiss Tokio Life we have always had an innate inclination towards associating with causes that allow us to spread a positive impact across communities,” Gupta added.
Throughout November, Edelweiss Tokio Life will be observing Organ Donation Awareness Month in collaboration with Actor Rahul Bose, and NGO MOHAN Foundation. This awareness drive is aimed at educating the public about the significance of this cause and urging them to pledge.
To equip themselves in this journey of spreading awareness, Edelweiss Tokio Life has also conducted a research to understand the low donation rate in India. As per the study, only 30% people in Jaipur expressed their willingness to donate organs after death, with just 3% having registered their intent with a relevant authority.
The research, conducted in association with Karvy Insights, shows that 80% of the 1565 respondents who participated, are aware about the concept of organ donation, but only 24% are willing to donate, and 5% of that have registered with an authority.
For more details, please read the research report titled ‘Life After Life: State of Organ Donation in India.’
If you wish to pledge for organ donation, please visit us at edelweisstokio.in/organdonation
About Edelweiss Tokio Life Insurance
Edelweiss Tokio Life Insurance Company Limited is a joint venture between Edelweiss Financial Services Limited, one of India’s leading and diversified financial services companies and Tokio Marine Holdings Inc, one of the oldest (over 138 years) and largest insurance companies in Japan. Edelweiss Tokio Life Insurance launched its pan-India operations in July 2011, offering proprietary need-based solutions to help customers meet their life stage financial goals. This lineage brings together a deep understanding of customer needs and international expertise. The company is headquartered in Mumbai serving over 2.02 lakh customers through 43,681 personal finance advisors across 121 branches in 93 major cities as on March 31, 2019.
Edelweiss Tokio Life Insurance has been consistently recognized for its Product Innovation capabilities at several forums, namely Golden Peacock Awards 2018, Golden Globe Tigers Awards 2018, ET NOW - BFSI Awards 2018, Times National Award for Marketing Excellence 2018, India Insurance Summit 2019 and Skoch Awards 2019.
To learn more about Edelweiss Tokio Life Insurance, please visit www.edelweisstokio.in
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Edelweiss Tokio Life Insurance