ICICI Lombard General Insurance Company and Bajaj Allianz Life Insurance are proud to announce their nomination as lead insurers in the Non-Life and Life Insurance segments respectively, in the state of Tripura. The recently concluded Tripura State Level Insurance Committee’s2ndmeeting marked a crucial milestone in bolstering insurance penetration and awareness in the state. As part of this initiative, the insurers aim is to implement the State Insurance Plan, ensuring access to insurance services for the uninsured population.The collaboration between ICICI Lombard and Bajaj Allianz Life Insurance signifies a unified effort to promote government schemes, address operational challenges, and enhance insurance penetration and reach in Tripura. The State Level Insurance Committee will work towards promoting insurance awareness and financial literacy through strategic insurance awareness drives and various programs. These efforts align with the vision of “Insurance for all by 2047” set forth by the Insurance Regulatory and Development Authority of India (IRDAI).This joint endeavour further solidifies both companies as trusted partners in safeguarding the financial well-being of individuals and businesses in Tripura.
Mr. Alok Agarwal, Executive Director, ICICI Lombard, said, “State Insurance Plans are pivotal in achieving the IRDAI’s vision of ‘Insurance for all by 2047’ and as the lead non-life insurer of Tripura State, we at ICICI Lombard are committed to working closely with State Government in enhancing insurance awareness and financial literacy in the state.” Mr. Anil PM, Head Legal, Compliance & FPU, Bajaj Allianz Life, said, “We are pleased to serve as the lead life insurer for the state under Tripura’s State Insurance Plan initiative. We are also in the process ofincreasingour footprints by openinga new branch officein Tripura.We will continue to work in tandem with the people of the state, the State government, and regulator to fulfil the vision of Insurance for all by 2047.”
ICICI Lombard and Bajaj Allianz Life will also drive other initiatives such as orientation programs at various levels to underscore the importance of insurance. Additionally, challenges will be addressed by collaborating with the State Government and relevant departments. Identifying operational issues and offering solutions, collaboration with other insurers, promotion of government schemes along with many other initiatives are also being pursued to increase insurance penetration.
