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Press Release

Edelweiss Tokio Life Insurance leads in getting approval from IRDAI for first-ever POS- Life Product

24 April 2017

Edelweiss Tokio Life Insurance, the joint venture between the Edelweiss Group and Tokio Marine Holdings of Japan, has obtained approval from IRDAI for ‘POS - Saral Nivesh’ , which will be sold over the counter for the first time in India under the POS (Point of Sale) guidelines. Edelweiss Tokio Life is the first to receive approval from IRDAI (Insurance Regulatory & Development Authority of India) to sell such a product through POS, a category which is being explored for the first time ever in India.

Buying such a product will be useful for someone who is buying life insurance for the first time, as it is simple to understand and easy to buy. The product will be apt for those looking for a simple proposition and seeking instant gratification, as the decision of buying can be made in just a few mintues due to the transparency and simplicity of the product. The life insurance product will be made available offline as well as online, to ensure that the buying process is seamless for customers.

Speaking about the development, Deepak Mittal MD & CEO, Edelweiss Tokio Life said, “We are excited to have received  an approval on POS - Saral Nivesh, which allows a customer to buy insurance at an affordable premium over the counter in just a few minutes. The purpose of introducing such a product is to give access to life insurance to a larger section of the society, thereby increasing insurance penetration in India. With POS – Saral Nivesh, Edelweiss Tokio Life  continues its practice of offering differentiated solutions to its customers.  IRDAI has done a commendable job in conceptualizing POS guidelines, which will benefit cutomers in many ways, as well as help in increasing distribution footprint.”

 

Edelweiss Tokio Life will soon launch POS Saral Nivesh.

About Edelweiss Tokio Life Insurance

Edelweiss Tokio Life Insurance Company Limited (‘the Company’), registered with Insurance Regulatory and Development Authority of India (Regn. no. 147),  is a joint venture between Edelweiss Financial Services Limited and Tokio Marine Fire Nichido Insurance Company Limited (a Japan based company), having a shareholding of 51% and 49% respectively in the Company. This lineage brings together a deep understanding of customer needs and international expertise. The Company offers proprietary need-based solutions to help customers meet their life stage financial goals.

Edelweiss Tokio Life Insurance Company Limited is the “Winner – Best Life Insurer of the Year”, presented at the 15th Annual Outlook Money Awards 2016.

To learn more about Edelweiss Tokio Life Insurance, please visit www.edelweisstokio.in

To learn more about the Edelweiss Group, please visit www.edelweissfin.com

To learn more about the Tokio Marine Holdings Inc., please visit www.tokiomarinehd.com/en

For more details, please contact:

Edelweiss Financial Services Ltd.

Perfect Relations Private Ltd.                 

Naheed Contractor

Chief Manager -  Corporate Communications

Tel: +91 22 4088 6305

E‐mail: naheed.contractor@edelweissfin.com

Taarika Khedekar

Senior Image Manager

Mobile: +91 9820962432

Email: taarika.khedekar@perfectrelations.com

Yogini Joglekar

Senior Manager- Corporate Communications

Mobile- 9821818746Email: yogini.joglekar@edelweisstokio.in

Ankita Mehta

Senior Image Executive

Mobile: +91 9820962027

Email: ankita@perfectrelations.com

 

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    Edelweiss Tokio Life Insurance Company Limited. All Rights Reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. IRDAI Regn. No.: 147. CIN: U66010MH2009PLC197336. Tax benefits are as per the Income Tax Act, 1961, and are subject to amendments made thereto from time to time. For more details on risk factors and terms and conditions, please read sales brochure carefully before concluding a sale. Flower & Edelweiss (as displayed above) are trademarks of Edelweiss Financial Services Limited; "Tokio" is Trademark of Tokio Marine Holdings Inc. and used by Edelweiss Tokio Life Insurance Co. Ltd. under license. Edelweiss Tokio Life Insurance Company Limited. Registered & Corporate Office: 6th Floor, Tower 3, Wing ‘B’, Kohinoor City, Kirol Road, Kurla (W), Mumbai – 400070.  Toll Free No.: 1800 212 1212 | Fax No.: +91 22 6117 7833 | www.edelweisstokio.in This is a Private website owned by the Company. Unauthorized scanning of vulnerabilities and exploitation of the same is strictly prohibited. If you have been found to do so, Company may bring Civil and/or Criminal action and/or legal proceedings against you which shall be entirely at your costs and consequences.

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