Page 5 - Insurance Times February 2022
P. 5

General Insurance




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         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.
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