Chennai, March 14: ICICI Prudential Life Insurance Company, the joint venture insurance company between ICICI and Prudential Plc of the UK, has kicked off its south Indian operations in Chennai on Wednesday by accepting five proposals favouring underprivileged children. The policies were sponsored by Madras Cements Ltd and Lucas TVS.Speaking at the occasion, Ms Shikha Sharma, managing director of the company, said Chennai is the fourth office of the company which started operations a couple of months back. She said the company has already sold 1,500 policies so far and is targeting to cross the one lakh policy mark by the end of the next fiscal.
She said the products which the company has rolled out were getting a positive response from the market. The company has launched an assortment of products, falling under five basic categories, with flexible rider options. The policies currently on offer are ICICI Pru Single Premium Bond, ICICI Pru Save'n Protect, ICICI Pru Forever Life, ICICI Pru CashBak and ICICI Pru LifeGuard. Ms Sharma said that the flexible rider option of the policies helped the customer to take a policy according to the specific risk that he or she wanted to cover.
Ms Sharma said the company, for the time being, has no plans to introduce any new products. "We have a sufficiently large product range on offer now. We will think about new products only after we get the feedback from the market about them," she said.
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