IndiaFirst Life: One of the top players for PMJJBY

IndiaFirst Life is moving from a bancassurance dominated to a multichannel distribution organization. Sumeet Sahni, CDO & President - Agency Channel, outlines the transformation:

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Ravi Lalwani: What is the performance of the company’s products? Which are the top 3 markets for the company?

Sumeet Sahni: IndiaFirst Life offers a varied product suite that caters to a wide range of customer needs, ensuring there is something for everyone across different income levels, age groups, and life stages. 34% of our portfolio comprises ULIP products, 39% is non-par offerings, and 14% is non-par annuity products. Amongst our varied offering, some of the bestselling products include IndiaFirst Life Guaranteed Pension Plan, IndiaFirst Life Guarantee of Life Dreams Plan, IndiaFirst Life Money Balance Plan, IndiaFirst Life Wealth Maximizer Plan, and IndiaFirst Life Long Guaranteed Income Plan. With strong presence in states like Uttar Pradesh (18%), Gujarat (14%), and Maharashtra (12%), we are accessible to customers across 90%+ of India's pin codes.

Which are the leading customer acquisition channels for the company?

IndiaFirst Life’s innovative thinking has elevated it from a bancassurance dominated to a multichannel distribution organization. With over 22,000 branches through partnerships with Bank of Baroda, Union Bank of India, and Regional Rural Banks, we serve customers nationwide. Bancassurance contributes 75%, broking 11%, agency 7%, and other channels 7% to our business.