Click to play videoMumbai: Now, when you are done shopping in a mall, along with fruits and vegetables, you can carry home an insurance policy.
India's newest insurer – Future Generali – has approached the Indian insurance market in a unique way, through “mall assurance".
In essence, you can insure your home or car, or even protect yourself from accidents while buying provisions, for as low as Rs 49.
“I think going by a new approach acquiring a customer younger and making him aware of insurance and the product is our first job,” explained Future Group MD, Kishore Biyani. “And we believe we can do it in the mall space because mall is a public space where people spend a lot of time.”
Future Group is set to offer this service in 40 malls across the country.
The company plans to set up 500 new outlets in the next six months including tier-II and tier-III cities. The company hopes to convert at least three to four per cent of the 200 million footfalls at malls this year.
Innovative, as well as easily accessible, mall assurance is expected to substantially increase the penetration in the Indian insurance market.
But the kind of response it would elicit is something to be seen.
With inputs from Anumeet Kaur Bisen
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