15 Dec 2014
India First launch happy India
On 16 November, our Indian joint venture, IndiaFirst, celebrated five years since it first opened its doors and thought there is no better way to celebrate this milestone than contributing to the positive winds of change that are blowing across the country today.
How did they Celebrate? By Making A Positive Contribution To Children’s Lives
Here, Tamanna Khanna, Head Marketing, IndiaFirst tells us about thier iniviative - Happy India:
Happy India is our sincere effort to provide children a chance to be part of this change by not just demanding it but actually ‘creating’ it. This initiative aims to search for Young Change Makers and support them in implementing their ‘Ideas for Change’. The initiative will see participation from over 20,000 students in the age group of 11 to 16 years from over 500 schools across 15 cities.
Ideas To Solve Social Issues
Young minds will identify social issues that bother them and present ideas on how they plan to solve these issues. These ideas would cut across areas such as education, cleanliness, health, security, financial inclusion etc. We in turn, will support 25 best ‘ideas for change’ with a grant of INR 50,000 each.
Driving Change For Future Generations
The implementation phase will also see industry stalwarts – innovators, social scientists, authors in mentoring these young change makers while they try and create the change they have dreamt of.
The efforts of these students will be showcased to the world through our television partner. Their projects will also be imprinted in the ‘Young Change Makers’ compendium, inspiring future change.
Our endeavor is to involve the future generation in the nation building activity. We hope this small step from IndiaFirst will lead to a giant leap for the nation as we will see hundreds of schools participating. For, change just needs that – an initial platform, a small push and loads of encouragement.
Indiafirst Celebrates Being Five.
Our Mumbai based joint venture, IndiaFirst recently celebrated its 5th birthday.
It’s one of the country's youngest life insurance companies and differentiates itself through simple, easy to understand products that are fairly priced and efficiently serviced.
Since it first opened its doors in 2009 IndiaFirst Life is present in over 1,000 cities and towns across India through 6,000 partner bank branches, and covers over 2.7 million lives.
Journey So Far
IndiaFirst is one of the fastest growing life insurance companies in the country - moving from 23rd position to 8th position amongst private life insurers.
It’s defied industry trend – growing 28% in terms of new business premium at the end of the 2013-14 financial year.
IndiaFirst has won over 31 awards during its 5 years, including three consecutive Celent Asia Awards.
It’s also ranked amongst the Top 100 Great Places to Work.
Indiafirst 5th Anniversary Video Transcript
Hi I'm Nigel Wilson, I'm the Group Chief Executive of Legal & General. I'd just like to say thank you to everyone and I'd love to be with you celebrating your fifth anniversary as part of the Legal & General Group. There are two things I really find fascinating with your business. First: the outstanding customer centricity of it, and second: the volumes and behaviours that you demonstrate as an organisation.
There are five achievements I particularly want to mention today.
- First, getting to 2.7 million lives covered.
- Second, being one of the Top 100 Places to Work in India.
- Third, managing 75billion rupees.
- Fourth, a very exciting launch of micro-insurance, leading the world for Legal & General.
- And fifth, being eighth in terms of new business across the whole of Indian life insurance in 2013 and 2014.
There are a couple of other areas I want to talk about - Ambition and Innovation, which again, India First is one of the leading companies within the Legal & General group. Magic Board looks like a great idea. We're really proud of the level of excitement and innovation that exists right across India First.
I've personally been involved with India since the 1990s and I've had a longstanding relationship with the Tata Group and TCS as indeed has Legal & General. We're very proud to have that association. It's great to see India relaunching itself in the world economic stage. Improvements to economic performance are coming through right here, right now. India will be one of the true economic super powers in the 21st century.
The first five years have been good, but the next five years are going to be even better. We've created a platform for growth, we mustn't give up on that opportunity. You're innovative; you're passionate; you're creative; you're ambitious. Make it happen as a group, make it happen as part of Legal & General.
And most of all, I'd like you to have a great night, and celebration, and once again to say thank you for the great job you've been doing for Legal & General and all your customers in India.