R ARIVANANTHAM
CHENNAI, AUG 1
HDFC ERGO General Insurance Company, the 2nd largest non-life insurance providers in the private sector on Tuesday announced its plans to promote insurance awareness across Tamil Nadu and neighbouring Puducherry union territory.
HDFC ERGO undertaking this campaign as the nodal agency to propagate the IRDAI’s vision of ‘Insurance for All by 2047’, said Anuj Tyagi, Joint Managing Director.
- We are undertaking this campaign as the nodal agency of these two zones to propagate the IRDAI’s vision of ‘Insurance for All by 2047’: Anuj Tyagi, Joint Managing Director
- Plans to conduct village contact programs and other on-ground awareness activities across select villages and towns across Tamil Nadu to promote Government led low ticket size insurance products
- To deepen the reach to last mile by driving engagement activities with help of NGOs and Self-Help Groups through Tamil Nadu Corporation for Women Development, Farmer Producers’ Organisations
- The insurance penetration in TN is 3.3% as against the national penetration of 4.2%
- It will be organising Junior insurance awareness quiz for the 8th consecutive year to insulate the knowledge of insurance in young minds
Addressing the media, Anuj Tyagi said, “Guided by the regulator’s vision of ‘Insurance for All by 2047’, at HDFC ERGO, we are focussing on three pillars to drive Insurance awareness to the last mile – ‘Awareness, Affordability and Accessibility’. As a leading General Insurer of India, we are cognizant of the low awareness levels of Insurance in our country, specially across the rural landscape, and take it as our prime responsibility to educate the individuals about the need for insurance as a financial risk protection tool and importance of insurance. We have 619 employees spread across 33 branches in the state. The entire initiative led by a very senior professional, is likely to help increase penetration of insurance with support of the regulator, state government authorities, and the other insurance companies to leverage their strengths to make affordable insurance accessible in the remote areas.”
He said, the insurance penetration in India stands low at 4.2% as compared to the global penetration of 7.4%. To bridge this gap and to spread awareness on insurance to the last mile, IRDAI has set up ‘State Insurance Plan’, which involves a cohesive effort of the regulator, state government authorities and insurers to ensure that the agenda of insurance inclusion and development is run in a sustainable manner. HDFC ERGO has been nominated to represent as the ‘lead insurer’ for Tamil Nadu and Puducherry and is poised to conduct several engagements activities to drive the awareness around insurance in these two regions.
He said the insurance penetration in TN is 3.3% as against the national penetration of 4.2%.
Replying the a query, Tyagi said that the company had already in touch with the state and central government machinery to improve the insurance penetration among all sectors. As part of this initiative, HDFC ERGO will have tie-up with the Tamil Nadu Corporation for Women Development (which has over 1 lakh SHGs in its fold) and also Farmers’ Producers’ Organisations (FPOs).
Tyagi further said, ‘As part of Phase 1 of this initiative, for Tamil Nadu, the HDFC ERGO has conducted health camps in districts of Ramanathapuram, Madurai, Cuddalore and Dindigul. Apart from this, the Company also plans to conduct village contact programs and other on-ground awareness activities across select villages and towns across Tamil Nadu to promote Government led low ticket size insurance products, which will protect individuals from sudden risks across the rural hinterlands of Tamil Nadu.
Commenting on the initiative, Sanjeev Kumar, Branch Banking Head – Tamil Nadu, Kerala and Pondicherry, HDFC Bank said, “Te Bank remains committed to supporting its General Insurance subsidiary, HDFC ERGO for taking insurance to the last mile of the country.”
Junior Awareness Quiz for Government School students
HDFC ERGO will be organising Junior insurance awareness quiz for the 8th consecutive year to insulate the knowledge of insurance in young minds. Students from over 100 Government schools from Tamil Nadu are expected to register for this quiz.
Crop Insurance Week
Similarly, the Company also hosted Crop Insurance Week in Tamil Nadu to promote awareness among farmers about various schemes under the Pradhan Mantri Fasal Bima Yojana (PMFBY).
