SBI General Insurance performs well in Kerala in its first year

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Trivandrum: SBI General Insurance has acquired over 10,000 customers in Trivandrum during its first full year of operation across the Corporate, SME & Retail segments. The company’s premium income during this period across all three segments was Rs.7.54 Crores.

Speaking on the occasion of completing the first full year of operations in Trivandrum, N Krishna Murthy, AVP & Branch Sales Head, SBI General Insurance said, “In FY’13, we are planning to focus extensively on the Retail (Motor, Health & Home) and SME segments in the region as they hold great promise and opportunity. We have also successfully established our footprint in nearly 400 SBI branches situated in around Trivandrum which is helping us expand our reach across the region. Encouraged by the response we got here, we have opened one more branch in Kerala. The new Kochi Branch will help us expand our footprints in central and north Kerala.”

The company plans to aggressively expand their agency channel to grow the Motor and Health Insurance business. SBI General considers its profile-based, customized pricing, which rewards good driving behaviour and vehicle up-keep as a key benefit and differentiator for its Car Insurance apart from its passion for paying claims in the most efficient, transparent and customer friendly manner. This along with valuable add-ons such 24 x 7 Emergency Roadside Assistance, Nil depreciation cover, No claim Bonus Protection & Return to Invoice cover make the Car Insurance from SBI General a compelling choice for the customers.

Commenting on the business garnered under various segments, Murthy said, “In a short span, we have made significant inroads into the Home, Motor & SME Insurance segments backed by the strong reach of State Bank of India. During the year, we have also covered over 300 large organisations in the public as well as private sector. New Product roll-out coupled with rapid expansion of its foot prints through SBI Branch Network & Agency channel is what will set the pace for the company’s growth prospects in the Trivandrum region.”

Kerala Biz News

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