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Future Generali India Life Insurance Company Ltd, a trusted life insurer in the Indian life insurance sector, is actively dedicated to increasing insurance awareness and financial security in the state of Sikkim. Appointed as the lead insurer of Sikkim, by Insurance Regulatory and Development Authority of India (IRDAI) in collaboration with fellow insurance providers, the company is determined to boost life insurance awareness and penetration in the region.

Guided by IRDAI, a committee comprising representatives from various life and general insurance companies is diligently working to enhance insurance awareness and penetration across all states in the country, with a specific focus on expanding into new markets. This initiative aligns with IRDAI's ambitious vision of 'Insurance for All' by 2047, aimed at making insurance accessible and inclusive across India's diverse regions. As of 2021, Sikkim's population stood at 702,164, with only 14,742 policies sold, resulting in a penetration rate of 0.05% only. This low insurance penetration underscores the pressing need for heightened awareness and outreach efforts in this market.

The recent launch of BTL activities by Future Generali India Life Insurance, in Sikkim across Gangtok, Pakyong and Namchi, marked a significant milestone in this journey.  'Nukkad Natak' street play performances at various locations across Sikkim, OOH installation at marque locations and explaining the benefits of life insurance to sole breadwinners of the family of the Taxi drivers Association all contributed to creating insurance awareness and generating an understanding of the essence of owning an insurance policy. The primary objective of these activities has been to gently introduce the local audience to the world of life insurance in an accessible and relatable manner. Moreover, with more upcoming initiatives such as college and school activation the company plans to sustain the momentum of knowledge of insurance and secured financial futures among the people of Sikkim. The company received positive response from the local communities, who showcased their interest in learning about life insurance with an enthusiastic turnout, reflecting the growing resonance of their mission.

Future Generali India Life Insurance Company's belief in effective communication goes beyond information dissemination; it emphasizes establishing authentic connections with the community. Street Plays, as their chosen avenue, offer immersive and interactive experiences, making the message of financial security not only relatable but also memorable.

Ms. Geetanjali Chugh Kothari, Chief Marketing Officer of Future Generali India Life Insurance Co. Ltd. And India Project Head for Sikkim emphasized, "As the lead insurer of Sikkim, our commitment goes beyond insurance; it's about diligently enhancing insurance awareness and penetration while expanding into new markets. We, along with other insurance companies present in the state, are dedicated to securing the future of our fellow citizens in Sikkim by empowering them with insurance knowledge and access. We recognize this as a key responsibility for this region. “

As part of its unwavering commitment to Sikkim, Future Generali India Life Insurance Company Ltd. is preparing for a series of activities, including strategic partnerships with NGOs and innovative digital initiatives, to further promote insurance awareness and penetration in the state. IRDAI has entrusted Sikkim to Future Generali India Life Insurance Co. Ltd. as part of their collective vision to achieve #InsuranceForAll by 2047.

As Future Generali India Life Insurance Co. Ltd. continues to illuminate the path towards a brighter financial future for Sikkim through innovative initiatives and community engagements, it remains resolute in its mission to build a secure and prosperous India for all.

Link to information: https://www.insuranceinstituteofindia.com/documents/6454111/6454500/The+Journal_Jan-Mar+2023.pdf

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