~ The largest Assets under Management in the Indian private life insurance industry ~
~ Signifies the trust of policyholders in the Company ~
NewZNew (Chandigarh) : ICICI Prudential Life Insurance Company has crossed the `1 lakh crore mark in Assets under Management (AUM). This is the first time in the history of the Indian life insurance industry that a private life insurer has achieved this milestone.
Having started operations in December 2000, the AUM garnered for the year ending March 31, 2001, was a little over `100 crore. The journey over the last fourteen years, since then, to ` 1 lakh crore has been an exciting one – of protecting lives, enabling dreams and growing together.
The focus of the Company has always been on customer centricity. The digitization drive of the company ensured a hassle free on-boarding experience for customers, simultaneously enhancing organisational efficiencies and built capacity for the distribution network. The digital platform empowered the customers to take informed buying decisions with their active participation.
Mr. Sandeep Bakhshi, MD & CEO said, “We are delighted to have achieved this milestone. This has been possible due to the faith reposed in us by customers, our distribution network and employees. The Assets under Management for a life insurer qualitatively symbolize the amount of trust placed by policyholders in the Company. The technology initiatives implemented, have contributed significantly enabling us to provide better service to customers and becoming more efficient.”
He added, “The Assets under Management, is in a way, the culmination of various initiatives implemented by the Company towards qualitatively increasing New Business premium, Renewal premium, providing cost effective products, best in class customer service, consistent fund performance over the long term, a hassle free claims settlement process and last but not the least providing a working environment which nurtures committed employees. It has always been our endeavour to simplify life insurance for customers. To us, it is the barometer of the trust placed in us by all stakeholders, since life insurance is a long term product.”