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Press Release

Edelweiss Tokio Life to focus on Impacting Lives

7 June 2018

 With an aim to build a smooth end-to-end customer experience, Edelweiss Tokio Life Insurance, a joint venture between Edelweiss Group and Tokio Marine Holdings, today launched an insta-issuance process for its online unit linked insurance plan. 

Through the instant buying mechanism, insurer will be able to issue the ULIP almost immediately to its customers subject to the Company’s underwriting guidelines. Traditionally, a policy takes 4-5 days for issuance. The service was unveiled by world class gymnast Dipa Karmakar at Policybazaar.com office in Gurgaon today.

Commenting on the launch, Anup Seth, Chief Retail Officer, Edelweiss Tokio Life said, “Customer behaviour and expectations have changed significantly. The digital age has created an information-rich eco-system and instant gratification has become the norm. So companies across sectors have to reimagine and optimise distribution to deliver a seamless experience. This innovation stems from our core value of customer centricity and focus on providing a superior experience to our customers.” 

Edelweiss Tokio Life is building capabilities to help customers make easy transactions including regular updates on fund performance, fund switches, premium top-ups, partial withdrawal, and premium re-direction. The company also aims to enable recurring payment processes through integrated facilities like eNACH, eMandate, Ad biller, Standing Instruction Facility on debit and cards, etc. 

Santosh Agarwal, Business Head - Life Insurance, Policybazaar.com said, “The Wealth Plus product was first-of-its kind 4G insurance product in the industry and addressed all issues relating to the old ULIPs. However, the unique offering had to be complimented with an equally robust distribution service. Hence, we have co-conceived a new insta-issuance service with Edelweiss Tokio Life. The new service offers a high customer-centric methodology of easy purchase and augments the return on investment of a consumer. This unique offering is in sync with the philosophy of policybazaar.com, which firmly believes in offering cutting-edge products by challenging the status quo constantly, offering maximum benefits to our customers.”

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 Company Limited 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 1.75 lakh customers.

Awards: Edelweiss Tokio Life Insurance:

  • Awarded the title of ‘Best Product Innovation’ for Edelweiss Tokio Life Wealth Plus at three separate forums – The Golden Globe Tigers Awards 2018, Golden Peacock Awards and ET Now BFSI Awards 2018
  • Awarded ‘Best Product Innovation’ title by Fintelekt Insurance Awards 2017 & National Award for Excellence in Insurance 2017 for Edelweiss Tokio Life Wealth Ultima

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

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

To learn more about the Edelweiss Financial Services Limited please visit https://www.edelweiss.in/

For more details, please contact:            

Amruta Joshi

Edelweiss Tokio Life Insurance

Tel: +91 9833817545

E‐mail: amruta.joshi@edelweisstokio.in

Nitish Pande

Perfect Relations

Mobile: +91 9140527261

Email: npande@perfectrelations.com

 

Amandeep Arora

Policybazaar.com

Tel: +91 9650166088

amandeepa@policybazaar.com

 

 

Pooja Chauhan

Perfect Relations

9971627588

pchauhan@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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