IDBI Federal Life Insurance Company Limited (henceforth known as IDBI Federal/the company) is one of the India’s major life insurance companies, founded in 2007.
|COMPANY TYPE||Private Ltd|
|Managing Director & CEO||Mr. Vighnesh Shahane|
|Foreign Partner||Ageas, an international insurance group IDBI Bank, India’s premier development and commercial bank Federal Bank, India’s major private sector bank|
|No of Policies||13.85+ lakh policies issued|
|Contact Details||Toll-free : 1800 209 0502 Website : www.idbifederal.com Mail : firstname.lastname@example.org|
|Latest Claim Settlement Ratio||96.47% (FY 2019-20)|
|New Business Sum Assured||11,736 Crore (FY 2019-20)|
|Asset Under Management||9,775 Crore as on March 31st 2020|
|Solvency Ratio||298% as on 31st MAR 2020|
|Total Sum Assured||98,799 Crore as on 31st MAR 2020|
|Brand Ambassador||Mr. Sachin Tendulkar – the god of Indian Cricket|
|IDBI Federal’s Purpose||Empowering you to create the life and lifestyle of your choice|
|Mission||Reaching out to customers, through empowered & engaged employees and distributors facilitated by cutting-edge technology, right selling & seamless service to meet their ever-evolving needs.|
|Year of start||2007|
|IRDAI registration No||135|
|Corporate Office||IDBI Federal Life Insurance Company Limited 22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel (East), Mumbai – 400013.|
IDBI Federal Life Insurance,
1) MyLife Protection Plan – Term Plan
2) Dream Builder Plan – Child Plan
3) Young Star Advantage Plan – Child Plan
4) Guaranteed Wealth Plan – Savings Plan
5) Guaranteed Lifetime Income Plan – Retirement Plan
6) Wealth Gain Insurance Plan – ULIP Plan
7) Heart & Cancer Shield Plan
|Awards & Recognitions||
1) IDBI Federal Recognized among ‘India’s Best Workplaces in BFSI 2020-Top 25’
2) IDBI Federal Honored with a ‘Special Recognition – Sports Development Initiatives for Youth’ under the Social Development category
3) IDBI Federal Conferred with the ‘Best Life Insurance Company – Work Culture’ award
5) Top 10 Trusted Life Insurance Brands in India
6) A special recognition for growth in Life Insurance
|Social Media Links||
Twitter : twitter.com/IDBIFed
Facebook : facebook.com/IDBIFed
You Tube : youtube.com/user/idbifederallife
ABOUT IDBI FEDERAL LIFE
The company’s product portfolio encompasses a diverse range of wealth management, protection and retirement solutions for individual and corporate customers. The company has been formed by a three-way joint venture between IDBI Bank – India’s premier development and commercial bank, Federal Bank – India’s major private sector bank with a dominant presence in Kerala and Ageas – an international insurance group with a heritage spanning almost 200 years.
TARGET OF IDBI FEDERAL LIFE
The company’s target is not to achieve 100%. But the target is to go well beyond that. For that the company only pushing the boundaries constantly and by doing that they were never done it before and the company can truly say they always keep moving, keep growing, keep innovating. This burning desire to race ahead of the competition faster and faster is what motivated their highly motivated team.
PURPOSE OF IDBI FEDERAL LIFE
The purpose of the company is to empowering the people by creating the life and lifestyle of their choice and their mission is to reach out the customers, through empowered & engaged employees and distributors facilitated by cutting-edge technology, right selling and seamless service to meet their ever-evolving needs.
IDBI bank Ltd, as a full universal bank, is India’s premier development and commercial bank. It provides a wide gamut of financial products and services encompassing deposits, loans, payment services and investment solutions.
They are committed to understanding their customer’s needs and aim at consistently delivering relevant financial solutions and excellent customer service. The bank serving retail and corporate customers with an extensive suite of innovative products and services.
OPERATIONS OF IDBI BANK
The Bank’s presence comprising 1,890+ branches in Pan-India. They understanding today’s fast- paced and digital world to offer an innovative range if digital services that complement by their pan-India network of branches and ATMs.
Customer can reach out to the bank through their 24/7 customer care facilities. They strive to provide their customers with the best possible combination of safety, convenience and innovation in all of the financial products and services.
VISION OF IDBI BANK
The bank’s vision is ‘to be the most preferred and trusted bank enhancing value for all stakeholders’, defines and shapes their day-to-day business, helping to the customers to build long-lasting relationships.
Federal Bank Ltd is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala. The bank having 1284 branches and 1569 ATMs across different states in India.
OPERATIONS OF FEDERAL BANK
The bank is a pioneer among traditional banks in India in the area of using technology to leverage its operations and was among the first banks India to computerize all its branches.
The bank offers its customers, a variety of services such as internet ban king, mobile banking, online bill payment, online fee collection, depository services, cash management services, merchant banking services, insurance, mutual funds products and many more as a part of its strategy to position itself as a financial super market and enhance customer convenience.
VISION AND MISSION OF FEDERAL BANK The vision of the bank is to be the most admired bank which is digitally enabled with a sharp focus on Micro, Medium and Middle market enterprises.
The mission is to achieve consistent growth in shareholder value and to develop in every employee a high degree of pride and loyalty in serving bank and to meet the expectations of the target customers by delivering appropriate products & ensuring the highest standard of services at all time, guided by their principle of being ‘Digital at the fore, human at the core’.
AGEAS INSURANCE COMPANY
Ageas is a Belgian multinational insurance group with a heritage spanning almost 200 years. The company offers retail and business customers insurance products designed to suit their specific needs. As one of Europe’s larger insurance companies, Ageas is the No.1 insurer in Belgium and ranks among the market of the countries in which it operates.
MORE ABOUT IDBI FEDERAL LIFE
Due to Covid-19 pandemic, IDBI Federal Life Insurance believe that the Indian population will value the life insurance even more.
Their goal is now to stay ahead and keep moving – they are revisiting all their products, services, capabilities, and making drastic enhancements in order to grow faster than the life insurance industry average.
Digital platforms are a big part of their new strategy; the pandemic and the lockdown have given a huge push to digitalization and they intend to build this advantage.
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