Future generali NMIMS

Presented by:Mitul Thekdi QA- 10Virajsinh Mahida QA- 18Jaimin Patel PC- 8Dhaval Patel PC- 5

SPPSPTM NMIMS MUMBAI

• ABOUT THE COMPANY:• joint venture of Future Group and the Generali

Group.• Present in India in both the Life and Non-Life

businesses as Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd.

• Generali Group is one of the leading insurance groups in Europe, with a 2009 total premium income of more than € 70 billion

• It is present in 68 countries• It has 70 million clients worldwide• It has 85,322 employees (15,956 in Italy)• It has over € 400 billion of assets under

management

VISION STATEMENT

• Vision Statement :• "Pledged to provide financial security to all people &

enterprises through total insurance solutions"• Values :• Respect : for all our stakeholders, for all rules and regulations• Indianess : Understand India in all its diversity and different

facets and will understand local market to respond to specific markets, design our products and craft our processes.

• "Can Do" : An attitude which demonstrates our passion, entrepreneurship, and positive thinking.

Objective

To provide superior customer service through our knowledge-based business partners and employees supported by innovative products and services.

Some products

• Future Health Suraksha – Individual• Future Health Suraksha - Family Floater• Future Health Suraksha - Family Floater• Future Criticare • Future Health Surplus• Future Hospicash

Health Suraksha Individual Plan

Features•Designed to meet the needs for today's health problems, it allows you to live worry free. And enjoy the reliability of 'Health Suraksha' as you live your life to the fullest.CoverageThe plan covers following benefits:1. With Health Suraksha, the member has access to cashless

facility at empanelled hospitals across India.2. Pre and post hospitalisation expenses incurred from 60

days prior up to 90 days after hospitalisation. Ambulance charges upto Rs. 1500.

3. Pre-existing disease covered after the 4th year4. FREE MEDICAL CHECK-UP after 4th year

Coverage5. Patient Care Expenses6. Accompanying Person Expenses7. Additional Accidental Hospitalisation Limit8. Grace period of 30 days from date of expiry for renewal.9. Rs. 50000/- Sum Insured would be available for dependent children only.10. Porting of similar health policy to Future Health Suraksha as per portability

guidelines

Benefits• Family Floater• Cashless Settlement• Quick settlement of claims• Innovative covers offered• Cumulative bonus• Renewal Discounts

Exclusions• Any condition, ailment or injury or related condition(s) for which you

have been diagnosed, received medical treatment, had signs and or symptoms, prior to inception of your first policy.

• Any disease contracted during the first 30 days of commencement of the policy.

• Diseases like cataract, hernia and tumor shall be covered after a waiting period of 2 years.

• Diseases and surgeries like gallstones, renal stones shall be covered after a waiting period of 1 year.

• Non-allopathic treatment.• All expenses related to AIDS and related diseases.• Joint replacement surgery shall be covered after a waiting period of 3

years except done due to an accident.• Use of intoxicating drugs or alcohol.Eligibility• 5 years to 70 years• Children entry only after 90 days and would be eligible if the parents are

concurrently insured with Future Generali.

• Benefits• In-house Cashless settlement• Innovative covers offered• Quick settlement of claims• No claim cumulative bonus• Subject to no claim, cumulative bonus of 10% on the basic sum insured will be

provided up to a maximum of 50% of the sum insured.• Portability can be offered as per the Portability guidelines.• There will be no loading on premium for adverse claims experience.

Exclusions EligibilitySame as individual plan Max Policy Term 1 Year

Min Age at entry 90 Days

Max Age at entry 70 Years

Renewal Lifelong Lifelong

Health Suraksha Family Plan

Future Criticare.

• Future Criti-Care shall cover the following 12 major medical illnesses

1. Cancer (cancer of specified severity)2. Kidney failure requiring regular dialysis3. Primary pulmonary arterial hypertension4. Liver failure5. Multiple sclerosis 6. Major organ/bone marrow transplant7. Open chest CABG (coronary artery bypass graft)8. Aorta graft surgery9. Stroke10. First heart attack (myocardial infarction)11. Coma 12. Total blindness

KEY FEATURES

• Individual• Family floater- Individual Spouse First two dependent children Two dependent parents.• No medical examination up to the age of 45 years and up to 5 lakhs

insured.• The premium paid is exempt under section 80 D of the Income Tax Act

Future Health SurplusThis policy covers medical expenses incurred during hospitalization due to accident or illness.

Policy CoverageI. Hospitalization cover: Expenses incurred for in-patient hospitalization are covered. These include Room, Board & Nursing Expenses as provided by the hospital/nursing home. II. Expenses for Surgeon, Anaesthetist, Medical Practitioner, Consultants, Specialists Fees, Anesthesia, Blood, Oxygen, Operation Theatre Charges, Surgical Appliances, Medicines & Drugs, Diagnostic Materials and X-ray, Cost of Pacemaker, prosthesis / internal implants and any medical expenses incurred which is integral part of the operation.

III. Pre–hospitalization expenses incurred within 60 days prior to Hospitalization on illness / injury sustained.

IV. Post–hospitalization expenses incurred within 90 days after the date of discharge from the hospital.

Salient features of Future Health Surplus• Family floater is available with coverage for Spouse, and children. • No Medical examination up to the age of 55 years.• Pre-policy check 50% cost of the diagnostic tests charges would be reimbursed by company, for accepted cases wherein policy has been issued. • There will be no loading on premium for adverse claims experience.• Insured can opt for Sum Assured from INR 3,00,000 to INR 10,00,000 • Premium paid is exempt under the section 80 D of Income Tax

Eligibility

Age of entry: 3 Months – 65 years. Renewable lifelong.

Children from 3 Months - 5 years can be covered if both the parents are insured.

Children from 18 years to 25 years can be covered as self proposer or as dependents.

Premium illustration: (All figures in Rs)

Service Tax Extra

Family Floater Discounts Premium for the primary insured remains as per table above. For remaining members discounts applicable on their respective premium as table below:

Exclusions: Same as individual policy plan

Future Hospicash

• Provides cash benefit in case an insured gets hospitalized.

• Guards against financial burden during hospitalisation.

• Provides fixed benefit for each day of hospitalization irrespective of the actual

medical cost.

• Provides additional protection at all times.

Salient features:

1. Claim for each day of hospitalization as per your plan.

2. ICU benefit available for maximum period of 10 days for each hospitalization and

maximum 20 days during the policy period.

3. The per day benefit will be 2 times when hospitalised in an ICU in the home city

4. The per day benefit will be 3 times when hospitalised in an ICU outside the home city

Max Policy Term 1 year

Min Age at entry 6 months

Max Age at entry 65 years

Renewal Lifelong

5. Additional convalescence benefit of ` 5000 for hospitalization of more than 10 days;

payable only once per hospitalization event.

6. The product is offered from 6 months to 65 years and renewable lifelong.

7. The policy can be on individual Sum Insured basis or on family floater basis,

covering Self, Spouse, and two dependent children (upto 25 yrs).

8. For Individual as well as Family floater plan only one hospitalization benefit plan

across all members needs to be selected.

9. No medical tests required for clean proposal.

10. Premium paid is exempt under the section 80 D of Income Tax.

Future Hospicash

• Plans A, B, C, D can be offered for different options 30 days / 60 days / 90 days / 180 days

Benefits Plans

A B C D

Daily Hospitalization

benefit

500 1000 2000 3000

due to sickness 1000 2000 4000 6000

ICU benefit in home

city of

1500 3000 6000 9000

residence. (max. 10

days)5000

*Maximum benefit available for an individual, is Rs 6000/- per day.

Eligibility Plan Income criteriaPlan A and Plan B Not applicable Plan C Monthly income above Rs 50000/-Plan D Monthly income above Rs 75000/-Multiple policies where per day

Eligibility-125 percent of the insured’s

Plan Benefits

1. Pre-existing diseases will be covered after a waiting period of 48 months.

2. Waiting period of 24 months for certain diseases like benign prostatic hypertrophy,

hernia of all types, hydrocele etc.

3. Hospitalization for cosmetic treatments, plastic surgery, refractive error corrective

procedures, experimental, investigational or unproven procedures or treatments.

4. Hospitalization for General debility, ‘Run-down’ condition or rest cure, sexually

transmitted disease, intentional self-injury.

5. Hospitalization for Pregnancy and fertility related treatments.

6. Non-Allopathic Treatment / Hospitalization.

7. Hospitalization for any mental illness or psychiatric illness.

8. Any hospitalization outside India.

General Exclusions

• Offered to employers to cover their employees under a Group Health Insurance

Policy .

• Medical insurance covers almost everything- from the time you step into the

hospital to the time you are discharged.

• Cashless facility eliminating the entire trouble of documentation and direct

settlement of your bills directly with the hospital.

• In case of additional premium paid Maternity Benefit can be availed.

• Less than 24 hours hospitalisation for specified procedures like Dialysis,

Chemotherapy, Radio therapy, Eye Surgery, Dental Surgery, Lithotripsy (Kidney

stone removal), are covered.

Group Health Policy

• Ashish Patel…

• Like for eg. If cataract surgery is carried out, PSU insurance

company has capping-means limit for sum insured like for eg.

10%.. it means there is only 10% sum insured coverage.

• While future generali has no capping limit means whole sum

insured is cover.

“We have competitive advantage over PSU insurance company

that they give capping in certain condition like in cataract

surgery while we provide whole sum insured to the patient.”

Review from Future Generali Agent

• Vijay Ahmedabad…

• Anisha Gudimetla,Banglore…

Review from Future Generali Customer

“I am really happy with future generali.Saral anand plan is

better than jeevan Anand plan of LIC.I am very happy even I

will recommend to all friends….”

“Worst insurance claim experience ever!!”

Web contentMarketing Collateral

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Agent

Company Name PolicyYearly

Premium For 1Lac

Yearly Premium For 2Lac




Yearly Premium For 7.5Lac


Renew Till Age

Future Generali – Health Suraksha Basic (Individual) Mediclaim 1468 2161 3146 3658 5107 NA NA 70

Future Generali – Health Suraksha Silver (Individual) Mediclaim 1652 2431 3540 4115 5746 NA NA 70

Future Generali – Health Suraksha Golden (Individual) Mediclaim 1835 2701 3932 4572 6384 NA NA 70

Future Generali – Health Suraksha Basic (Individual) Senior Citizens 4154 6967 9419 10967 12210 NA NA 70

Future Generali – Health Suraksha Silver (Individual) Senior Citizens 4675 7837 10597 12338 13736 NA NA 70

Future Generali – Health Suraksha Golden (Individual) Senior Citizens 5193 8708 11775 13709 15262 NA NA 70

Apollo Munich – Easy Health Individual Standard (Individual)

Mediclaim 1208 2537 3626 4633 5625 NA NA Lifetime

Apollo Munich – Easy Health Individual – Exclusive (Individual)

Mediclaim NA NA 4302 5294 6453 NA NA Lifetime

Apollo Munich – Easy Health Individual – Premium (Individual)

Mediclaim NA NA NA 6618 8066 NA NA Lifetime

Comparision of Future Generali with Apollo Munich

Company Name PolicyYearly

Premium For 1Lac





Yearly Premium For 7.5Lac


Renew Till Age

Future Generali – Health Suraksha Family Basic (Floater)

Family Scheme NA 3241 4718 5468 7661 NA NA 70

Future Generali – Health Suraksha Family Silver (Floater)


Future Generali – Health Suraksha Family Golden (Floater)


Apollo Munich – Easy Health Insurance – Standard (Floater)

Family Scheme NA 4093 4924 6067 7690 NA NA Lifetime

Apollo Munich – Easy Health Insurance – Exclusive (Floater)

Family Scheme NA NA 5873 7280 8844 11409 NA Lifetime

Apollo Munich Easy Health Insurance – Premium (Floater)

Family Scheme NA NA NA 9541 11054 14261 16675 Lifetime

Public Disclosure FY 2013-14 Half Yearly

Form No. FY 2013-14 Half Yearly

NL-1 Revenue Account

NL-2 Profit & Loss Account

NL-3 Balance Sheet

NL-4 Premium and Commission

NL-6 Operating Expenses

NL-7 Benefits Paid

NL-8 & 9 Share Capital, Pattern of Shareholding

NL-10 & 11 Reserves and Surplus, Borrowings

NL-12 Investment-Shareholders

NL-13 Investment-Policyholders

NL-14 Investment-Asset Held to Cover Linked Liabilities

NL-15 Loans


NL-16 Fixed Assets

NL-17 Cash and Bank Balance

NL-18 Advances & Other Assets

NL-19,20 & 21 Current Liabilities, Provisions, Misc. Expenditure

NL-22 Analytical Ratios

NL-24 Valuation of Net Liabilitie

NL-25-1 Geographical Distribution of Channel

NL-25-2 Geographical Distribution of ChanneNL-2

NL-26 Investment Assets

NL-27 Ulip Linked Business

NL-28 ULIP NAV

NL-29 Debt Securities

NL-30 Related Party Transactions

NL-31 Board of Directors and Key Persons

NL-32 Solvency Margin


NL-33 NPAs

NL-34 Yield on Investment

NL-35 Downgrading of Investment

NL-36 Business Numbers

NL-37 BSNS Acqusition (Group)

NL-38 BSNS Acqusition (Individual)

NL-39 Ageing of Claims

NL-40 Claims Data

NL-41 Grievance (Life)

NL-42 Valuation Basis (Life)

NL-33 NPAs

NL-34 Yield on Investment

NL-35 Downgrading of Investment

NL-36 Business Numbers

NL-37 BSNS Acqusition (Group

PERIODIC DISCLOSURES

• NL-27: Offices information for Non-LifeSl. No. Office Information Number

1 No. of offices at the beginning of the Qtr 92

2 No. of branches approved during the Qtr 0

3No. of branches opened

during the Qtr

Out of approvals of previous year

2

4 Out of approvals of this year

0

5 No. of branches closed during the Qtr 0

6 No of branches at the end of the Qtr 94

7 No. of branches approved but not opened 23

8 No. of rural branches 0

9 No. of urban branches 94

• "Customer Devo Bhava"• committed to provide “Exceptional Customer-

Experience” • They encourage customers to read the policy &

schedule carefully. • They also welcome the feedback from customers.

Help-lines: 1800-220-233, 1860-500-3333, 022-67837800Email : [email protected] : www.futuregenerali.inGRO at each Branch : branches and request to meet the Grievance Redressal Officer (GRO).

Grievance Redressal

• acknowledge receipt of your concern within 3 - business days.

• Within 2 - weeks of receiving the grievance, they will revert to customer the final resolution.

• They regard the complaint as closed if they do not receive a reply within 8 weeks from the date of receipt of response.

After logging a Grievance

Reference

• www.futuregenerali.in• www.mouthshut.com

Special thanks to….

Mr. Vaibhav Mishra Field Officer, Future Generali, Ahmedabad Mr. Ashish Patel Agent, Future Generali, India

Thank you