Corporate Social Responsibility
The IndiaFirst Life family constantly strives to channel the efforts of its employees, agents and distributors into community development programs.
HELPING THE MASS MARKET WITH MICRO INSURANCE
For insurance to reach the masses, India needs a financial inclusion model that is fair, transparent, cost effective, regulated and which leverages the existing infrastructure. We at IndiaFirst Life Insurance have embarked on a journey to provide fairly priced, simple, comprehensive and efficiently serviced insurance to the mass market. We are channelling our efforts to make the insurance industry not only affordable, but also accessible and attractive to the mass market.
FINANCIALLY INCLUSIVE INSURANCE (PMJJBY):
IndiaFirst Life is an insurance company that participates actively in the financial inclusion scheme promoted by the government of India. PMJJBY is a bank account which is linked to a group term assurance cover, with a fixed premium of INR 330 and cover of INR 200,000. The company offers this scheme through its bank partners, using technology that has a completely integrated and low-cost distribution model. Nearly 25 lakh lives were insured in one year under this scheme, since its launch in June 2015.
IndiaFirst Life is proud to wear the mantle of inclusive development by entering into an agreement for distribution of its products through village level entrepreneurs (VLEs). The distribution process is completely seamless due to the amalgamation of the technology portals of both partners. IndiaFirst Life handholds these village-level entrepreneurs and hones the skills of rural India through the CSC movement to play a crucial role in improving social and financial development.
SPREADING INSURANCE TO REMOTE RURAL COMMUNITIES
As part of IndiaFirst Life’s micro and mass market insurance strategy, it has tied up with ‘IFMR Rural Channels’, to distribute IndiaFirst Life Insurance policies in the remote rural districts of India. IndiaFirst Life will offer life insurance policies through Kshetriya Gramin Financial Services (KGFS), in four centres serving five districts across Tamil Nadu in India.
HOW OUR EMPLOYEES HELP THEIR COMMUNITIES
During the festive season, we as Indians spread smiles through our gifts. By arranging for NGOs to set up stalls in the IndiaFirst Life premises, we ensure that our employees’ celebrations are enhanced.
IndiaFirst Life employees spread cheer to their loved ones by not only generously purchasing gift articles for themselves and their families but by also ensuring a donation in the form of clothes, bags, toys, books, newspapers etc. for the welfare of the destitute and needy.
CSR at IndiaFirst Life is a continuous investment that ensures the involvement of all, thus percolating a sense of pride, not just for the organisation, but to all associated with the company. As the saying goes, ‘charity begins at home.’ IndiaFirst Life focuses on supporting and giving back to society, be it through monetary benefits or by just lending a helping hand.
CSR INITIATIVES FOR THE FINANCIAL YEAR 2019-20
IndiaFirst Life has partnered with the following as a part of our CSR initiatives for the Financial Year 2019-20.
SEWA partnership will help us to tap women empowerment initiatives.
CSC Academy partnership will help us in providing livelihood enhancement projects.
3.Prime Ministers National Relief Fund for COVID-19:
Our contribution is made with an intent to help India fight the war against COVID-19 which is an unprecedented situation being faced across the World.