HDFC ERGO announces its plans to promote Insurance Awareness in Tamil Nadu – in line with IRDAI’s vision of ‘Insurance for All by 2047’

The Company plans to conduct several engagement activities to sensitize citizens on the importance of Insurance

Chennai, Aug 01: HDFC ERGO General Insurance Company, India’s leading non-life insurance provider in the private sector, announced its plans to promote insurance awareness in Tamil Nadu, in line with IRDAI’s vision of ‘Insurance for All by 2047’, at a press conference held in Chennai today. Insurance penetration in India stands low at 4.2% as compared to the global penetration of 7.4%. To bridge this gap and to spread awareness on insurance to the last mile, IRDAI has set up a ‘State Insurance Plan’, which involves a cohesive effort of the regulator, state government authorities, and insurers to ensure that the agenda of insurance inclusion and development is run in a sustainable manner. HDFC ERGO has been nominated to represent as the ‘lead insurer’ for Tamil Nadu and
Puducherry is poised to conduct several engagements and activities to drive awareness around insurance in these two regions.

As part of Phase 1 of this initiative, for Tamil Nadu, the Company has conducted health camps in districts of Ramanathapuram, Madurai, Cuddalore and Dindigul. Apart from this, the Company also plans to conduct village contact programs and other on-ground awareness activities across select villages and towns across Tamil Nadu to promote Government led low ticket size insurance products, which will protect individuals from sudden risks across the rural hinterlands of Tamil Nadu.

Commenting on the initiative, Mr. Anuj Tyagi, Joint Managing Director at HDFC ERGO General Insurance said; “Guided by the regulator’s vision of ‘Insurance for All’ by 2047, at HDFC ERGO, we are focussing on three pillars to drive Insurance awareness to the last mile – ‘Awareness, Affordability and Accessibility’. As a leading General Insurer of India, we are cognizant of the low awareness levels of Insurance in our country, specially across the rural landscape, and take it as our prime responsibility to educate the individuals about the need for insurance as a financial risk protection tool and importance of insurance. We have 619 employees spread across 33 branches in the state. The entire initiative led by a very senior professional, is likely to help increase penetration of insurance with support of the regulator, state government authorities, and the other insurance companies to leverage their strengths to make affordable insurance accessible in the remote areas.” Also present at the press conference was Mr. Sanjeev Kumar, Branch Banking Head – Tamil Nadu, Kerala and Pondicherry, HDFC Bank. The Bank remains committed to supporting its General Insurance subsidiary, HDFC ERGO for taking insurance to the last mile of the country. HDFC ERGO has been conducting several awareness activities to promote insurance awareness across the country. The company will be organising Junior insurance awareness quiz for the 8th consecutive year to insulate the knowledge of insurance in young minds. Students from ~100 Government schools from Tamil Nadu are expected to register for this quiz.

Similarly, the Company also hosted Crop Insurance Week in Tamil Nadu to promote awareness among farmers about various schemes under the Pradhan Mantri Fasal Bima Yojana (PMFBY). The Company will continue to host such meaningful activities in future. Going forward the Company also plans to further deepen its reach to the last mile by driving engagement activities with help of NGOs and Self-Help Groups.

About HDFC ERGO:

HDFC ERGO General Insurance Company Limited was promoted by erstwhile Housing Development Finance Corporation Ltd. (HDFC), India’s premier Housing Finance Institution and ERGO International AG, the primary insurance entity of Munich Re Group. Consequent to the implementation of the Scheme of Amalgamation of HDFC with and into HDFC Bank Limited (Bank), one of India’s leading private sector banks, the Company has become a subsidiary of the Bank. HDFC ERGO is one of India’s Leading non-life insurance company in the private sector. A digital-first company, transforming into an AI-first company, HDFC ERGO is a leader in implementing technology to offer customers the best-in-class service experience. The company has created a stream of innovative & new products as well as services using technologies like Artificial Intelligence (AI), Machine Learning (ML), Natural Processing Language (NLP), and Robotics. HDFC ERGO offers a range of general insurance products and has a completely digital sales process with ~93% of retail policies issued digitally. HDFC ERGO’s technology platform has empowered the customers to avail 69% of the services digitally on a 24×7 basis with ~19% of the customer requests serviced by Artificial Intelligence-based tools. HDFC ERGO offers a complete range of General Insurance products including Health, Motor, Home, Agriculture, Travel, Credit, Cyber and Personal Accident in the retail space along with Property, Marine, Engineering, Marine Cargo, Group Health and Liability Insurance in the corporate space. Be it
unique insurance products, integrated customer service models, top-in-class claim processes or a host of technologically innovative solutions, HDFC ERGO has been able to delight its customers at every touch-point and milestone to ensure consumers are serviced in real-time. Please log on to www.hdfcergo.com or stay connected on the following social media handles to get more information on HDFC ERGO and the products and services offered by the company.

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