Page 5 - Insurance Times February 2022

General Insurance

News

Reliance General Insur- "The pandemic has transformed the surance company which has crossed
insurance landscape and elevated cus- the 20 million (2 crore) customer mark.
ance to launch nine new
tomer expectations. The approved "RS Filmcraft believes in Digit's mission
products nine sandbox products are designed to of making insurance simple, especially

The Reliance General Insurance Com- meet customer expectations through for laypersons who may not under-
pany said that it will soon come out personalised offerings." stand legal jargon or complicated pa-
with nine sandbox products to meet "They are also modelled to address perwork," Kamesh Goyal, the Chair-
evolving consumer needs. customers' current and futuristic re- man and founder of Digit Insurance,
quirements. We intend to take the said.
The company has already received
customer experiences to the next level
approval for the same from the Insur- Bengaluru-headquartered Go Digit has
with these new-age offerings," Jain
ance Regulatory and Development raised funding amounting to around Rs
Authority of India (IRDAI). said. 990 crore from its parent company Go
Reliance General Insurance, a part of Digit Infoworks Services Pvt Ltd, backed
This announcement is in line with the
Reliance Capital, is one of the leading by Canadian billionaire Prem Watsa's
company's long-term goal of re-inno-
general insurance companies in India. Fairfax Financial Holdings Limited.
vating and redefining the insurance
It offers motor insurance, health insur-
sector to cater to the fast-transform-
ing customer expectations in the digi- ance, travel insurance, and home in- Govt adds insurance ex-
surance, among other customised so-
tal age. perts to Banks Board Bu-
lutions.
"Three out of the nine products are reau
from the telematics segment, while Go Digit General Insurance
The government has appointed insur-
the rest of the offerings are from the gets Rs. 378 crore from RS ance experts to the Banks Board Bu-
company's innovative product line de- reau to help select and appoint direc-
signed to address customers' current Filmcraft
tors on the boards of public sector in-
and future policy requirements. Being Go Digit General Insurance has re- surance companies for a two-year
one of the most tech-driven insurance ceived capital infusion of nearly Rs 378 term.
companies, RGICL aims to introduce crore from R S Filmcraft, the new-age
these pioneering product offerings to general insurance company said. RS The three part-time, non-government
members chosen by the Appointments
provide holistic insurance cover from a Filmcraft (OPC) has invested Rs 50 mil- Committee of the Cabinet are former
futuristic perspective," the company lion (Rs 377.91 crore) in Go Digit Gen- LIC MD Usha Sangwan, former Orien-
said in a statement. eral Insurance, the insurer said in a tal Insurance CMD AV Girija Kumar and
release.
According to Rakesh Jain, CEO, Reli- former IRDAI whole-time member
ance General Insurance Company: Go Digit is a four-year-old general in- Sujay Banarji.
The Insurance Times, February 2022 5