Financial Inclusion
Initiative taken by National Insurance for implementation of Financial Inclusion Programme of Government of India
Government of India launched an ambitious project of “Financial Inclusion” to provide Banking and other Financial Services like Life and Non Life Insurance to the Rural population. Initially starting with expansion of Banking network to the Rural areas, it was decided to extend the reach of Insurance facilities. Accordingly, the PSU Non Life Companies were advised to open Offices in unrepresented towns upto Tier-IV level with a population of 10000 and more.
On the basis of the list of unrepresented towns from Tier-I to Tier-IV allotted to our Company by the other lead Companies in North, West and South Zones as well as the list of allocations in the East Zone, a total number of 596 Offices have been opened by our Company. These are Micro Offices named as “Business Centre”. Click here for Contact Details of BC Hub In-charges
Since the Company already had a number of Business Centres, with the opening of the new Business Centres, the total number has now reached to 994. These Business Centres are capable of issuing all types of policies directly.
At present operation of all our Business Centres are restructured under 26 Regional Business Centre Hubs. Each Regional Office is having a Business Centre Hub, operating in Core Insurance Solution EASI, controlling the Business Centres in the Region in which, all policies are issued from the Business Centres through the Core Insurance Solution and all claims are reported through the system to the Business Centre Hub, which acts as the Claims Hub for the Business Centres. Hence, irrespective of the business done by the Business Centres, all claims are taken care of by the Business Centre Hub.
Business Correspondents are appointed by Banks to provide banking service to unbanked areas. Under Financial Inclusion Programme, they will also market Life and Non Life insurance products, especially Micro Insurance. Business Correspondents are being mapped to various operating offices including Business Centres for necessary service support.
We have also increased our basket of Micro Insurance products from 2 to 11, which will be available for marketing to the Micro Agents and Business Correspondents of Banks at the rural level. Click here for List of Micro Agent
We are at the final stage of signing agreement with Common Service Centre – Special Purpose Vehicle (CSC-SPV) and will be marketing our products through the Common Service Centre channel.
We have launched Insurance On Wheels (IOW), a Mobile Office capable of visiting various unrepresented areas. It is engaged in providing insurance service to the public at their doorstep and develop insurance awareness. We launched 4 such IOW in the first phase and have now added 15 more. These will be used to promote insurance services in non metro/rural areas.
With the launching of “Sampoorn Vittyea Samaveshan (SVS)”, comprehensive Financial Inclusion in mission mode by Government of India, National Insurance is committed to implementation of the programme. Accordingly, there is wholehearted participation by our Company in the Camps held for Pradhan Mantri Jan Dhan Yojana (PMJDY) on 28th August 2014 for promotion of Micro Insurance and other products to the new accounts holders across the Country.
