PNB MetLife Broadens its Product Portfolio with Three Unique Offerings for Retail Customers

Portfolio

* A guaranteed savings plan, which allows customers the flexibility of pay-out as a lumpsum or supplementary income

* A combined plan, assuring life and health insurance protection, with coverage against Covid-19

* A new Unit Linked Insurance Plan (ULIP), which offers whole life cover along with tailor-made solutions for wealth creation

PNB MetLife Insurance is expanding its product portfolio with three new unique offerings: PNB MetLife Guaranteed Future Plan; Mera Mediclaim Plan and PNB MetLife Smart Platinum Plus. At PNB MetLife customer centricity is the cornerstone that binds all functions. These offerings complement the Company’s concept of “Circle of Life”, which assesses the needs of the customers and offers them with solutions on varied financial needs including - Child Education, Family Protection, Long Term Savings and Retirement.are testament to this approach and was designed keeping in mind the evolving needs of customers across different segments. 

PNB MetLife Guaranteed Future Plan, a guaranteed savings life insurance plan that offers dual advantages of long term guaranteed benefits and financial protection to the family in case of adversities. The plan offers complete control to customer and helps customize the savings schedule based on customer’s needs and affordability. It allows customers the flexibility to choose their future guaranteed pay-out as a lumpsum, income or a combination thereof which will help meeting financial requirements for various goals.

The company, in partnership with Religare Health Insurance, has launched - Mera Mediclaim Plan – that combines benefits of health and life insurance under a single policy. The new solution gives customers access to quality healthcare, cashless hospitalization, along with life insurance coverage.

Additionally, the company has also received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to launch PNB MetLife Smart Platinum Plus, a whole life savings-oriented unit-linked insurance plan (ULIP). The plan also offers life insurance cover to protect ones family in case of an unfortunate demise as well as provides with tailor-made solutions to achieve ones goals, including an option where wealth creation doesn’t take a back seat even during critical illness.

Ashish Kumar Srivastava, MD & CEO, PNB MetLife, said “At PNB MetLife, we believe in “Customer Centricity’ and continuously work towards providing solutions in line with our mantra. As a part of our ‘Circle of Life’ approach, which has been conceptualized to deliver need-based solutions that provide financial wellbeing to the customers during their lifetime, the new products will address the need for life and health protection as well as wealth creation.  PNB MetLife also declared bonus for its participating polices which remains consistent even in these uncertain times. We will continue to invest our efforts in product innovations and introduce more products that will serve the life-stage needs of our valued customers.”  

PNB MetLife Guaranteed Future Plan offers four different options to create a corpus to meet one’s financial goals. The plan comes with a guaranteed income ranging from 103% to 245% of the annualized premium.  Annual premiums higher than Rs.30,000 also receive High Premium Reward ranging from 4% - 12% of annualized premiums.  Besides one can opt for Income plus booster options that will give them an additional income pay-out at specified intervals ranging from 30%-406%. The plan allows customers to time the receipt of maturity amounts on special occasions like birthdays or anniversaries. The policyholder will also be eligible to avail income tax benefit on premiums paid and benefits received under 80 (c) and 10(10d).

Mera Mediclaim Plan offers coverage for comprehensive health and hospitalisation insurance along with life insurance.  The plan features cashless hospitalization cover across Religare Health Insurance’s network of more than 7,500 hospitals. The plan also covers more than 540 Day Care Treatments, alternative treatments such as Ayurveda, Unani, Siddha and Homeopathy and offers a no claim bonus which helps cover to increase upto 220% over two years and 250% over five years. This unique plan provides a cost-effective solution for customers by offering a discount of 7.5% on both life and health insurance premiums, plus dual tax benefits under both section 80 (c) and 80 (d)

PNB MetLife Smart Platinum Plus is a whole life protection and savings oreinted Unit Linked Insurance Plan.  The plan features an unique Care Benefit which helps customers secure their goals against health exigencies and the insurer pays all future premiums in case of diagnosis of any of the listed five critical illnesses. The plan provides additional allocations through features like Return of Fund Management charges of 1st 5 years and Fund booster which is paid at the end of 10th year which enhance the fund value and also incentivise the customers to stay invested for longer. This holistic plan offers the policyholder with the freedom to choose from the benefits, duration of premium payment, the sum assured multiple and also maximise their wealth creation potential through a choice of portfolio strategies and variety of funds. It also offers flexibility of switching between different fund depending on the risk appetite and partially withdrawing money from the fund value after the lock-in period.  The company so far has 22 unit-linked funds in its portfolio of which PNB MetLife Virtue Fund II and PNB MetLife Virtue Fund has been ranked amongst the top 10 in the Insurance Large Cap Category (as of June 30, 2020) by Morningstar, a leading independent investment research organization. This ranking is testimony to the company’s strong fund management prosess and reaffirm the commitment to deliver value accretive growth to its customers investing through market-linked products. 

This trio of products launched by PNB MetLife holistically fulfils the advanced needs and demands of the consumer. Amongst the three products, Mera Mediclaim Plan and PNB MetLife Guaranteed Future Plan are available across PNB MetLife’s bancasurance, agency as well as online channels. As the masses settle to the new normal where protection of health and life and wealth creation have assumed a level of importance like never before, PNB MetLife strives to serve its customers at every new juncture of their lives through its dynamic and ever-evolving approach to customer satisfaction.

About PNB MetLife India Insurance Company Limited

PNB MetLife India Insurance Company Limited (PNB MetLife) has as its shareholders MetLife International Holdings LLC. (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and other private investors, with MIHL and PNB being the majority shareholders.

VIL Offers a Unified Vodafone RED Experience to All Postpaid Customers Across Indian Telecom Circles

Vodafone Idea Limited, one of India’s leading telecom service providers, today announced the completion of its postpaid consolidation journey by bringing all Idea post-paid subscribers under a single umbrella of Vodafone RED. All Vodafone Idea postpaid customers can now avail benefits of the Vodafone RED plan, a uniform customer service, and an enhanced digital experience.

This consolidation is a major step towards its synergy realisations and has led to process standardization for both the retail and enterprise customers.

It will enable the company to provide a uniform customer experience through self-service channels with enriched menu options on IVR, USSD, MyVodafone App and Websites for availing products, services and making payments. Erstwhile Idea postpaid customers now do not need to go through a separate on-boarding and service experience. They can now avail Red Family subscription, a single bill for entire family, access to Vodafone Play, premium content and a bouquet of other value added services.

Announcing the completion of postpaid consolidation, Vishant Vora, Chief Technology Officer, Vodafone Idea said, “The consolidation of Vodafone and Idea postpaid customers is a major step towards our vision of one company, one network. One of the biggest and fastest migration in the telecom space, this has led to operational synergies and process standardisation for both our postpaid retail and enterprise customers. It enables us to provide enhanced customer experience to our postpaid users.”

With this consolidation, Call Centre Agents will be able to serve customers better using the CRM insights provided through 360 degree view on customer information, interactions and service profiles. Real time rating functionality will ensure accurate unbilled charging for customers at any given point of time. Customer will also be able to receive timely notification and alerts for any over usage. Moreover automated credit monitoring and dunning can trigger on time to ensure customer does not incur huge Bills thus avoiding Bill shocks.

Vodafone Idea has successfully integrated two strong networks in 92% of the districts, taking the integrated circles to 18. The deployment of new age technologies such as M-MIMO, DSR, Hybrid Cloud, OpenRan to enhance capacities and increased 4G coverage has resulted in richer customer experience.

During the pandemic the company has introduced several initiatives like recharges and payments via ATM/ USSD/ other digital platforms and launched AI powered customer service Bot on WhatsApp to keep its customers connected with their loves ones.

TradeIndia Announces India’s First Virtual B2B Event "COVID 19 Essentials Expo India 2020

B2B Event

* The pioneering virtual tradeshow will be held during August 5-7, 2020

* The event is set to boost trade and commerce between different brands across the country by showcasing their products

As several small and medium industries have been adversely impacted by the ongoing COVID-19 contagion in the country, the business community is roping in all efforts to stabilize the situation and rejuvenate the ailing economy. While government-sponsored relief, and financial relaxations are helping industries regain lost ground, inch by inch, there is also a new lease of hope dawning upon the market that every hurdle that is crossed is a step closer to the victory lap.

In a bid to transform the black swan Covid-19 pandemic into a lucrative business opportunity, TradeIndia, India’s largest B2B marketplace offering global buyers and sellers a reliable platform to identify trustworthily business partners shall be organizing the country’s first virtual tradeshow titled, “COVID-19 Essentials Expo India between August 5-7,2020. The trade expo that is targeted will be in the same lines as of a traditional the exhibition, but due to the pandemic concerns will be conducted via the virtual medium.  

The event will be targeted towards reviving the various SMEs and MSMEs of the country whose operations have been affected due to the dire effect of the corona virus crisis and helping them maintain business continuity in such turbulent times. As the pandemic has vehemently increased the demand for essential products, the market is amuck with a plethora of companies selling all kinds of essential wares, but only those companies will triumph who couple their essential product offerings with innovation. Besides revealing and brainstorming on the various innovative guidelines that companies can instill in their product development, the expo will also aim to discover alternate channels of revenue for companies that are suitable for the current market dynamics.

The trade expo will feature a multitude of brands, their products through a virtual exhibition solution that enables exhibitors to showcase their products at a very low cost but with high scalability. The tradeshow will also feature 3D stalls or immersive virtual spaces that enable attendees to sift through the various product lineups, access business catalogues while interacting with exhibitors via chat or video conference.

Featuring more than 60 booths and with an experience spanning over 20 years in online marketing space and event promotion, TradeIndia enjoys the largest industry database in the country that holds countless prospective visitors and investor’s for one’s brand. the essential range products that will be the central to the trade show are Surgical dressing and Disposable; Personal safety equipment; Personal care products; Common medicines and drugs; Temperature instruments; Medical, diagnostic & hospital supplies; Home cleaning appliances, etc.

Commenting on this highly enterprising initiative, the spokesperson for Trade India said, ”While the pandemic has wreaked havoc upon industries and the resultant economy, it has also opened up hitherto unlocked vistas of promising opportunities, As businesses across the world are united in their transition from the offline mode to the online mode of presuming their operations, We, at TradeIndia, endearingly strive to tap into the exuberant potential of the digital business model and also extend a much-needed lift-up to the struggling factions of SMEs and MSMEs and help them shift to the online medium of  commencing business through this first of its kind landmark virtual tradeshow. We welcome everyone to participate and grace this novel event as together we can adapt and thrive in this new normal, no matter how great the challenge.”  

About TradeIndia:

TradeIndia.com is an online Business to Business (B2B) portal for small businesses based in India and around the globe. The portal was started in 1996 by Bikky Khosla and is maintained and promoted under the flagship company, Infocom Network Ltd. The company is headquartered in New Delhi, India, and has branch offices in more than 42 cities across India.

Nasscom sees great opportunity for SaaS in product cos

Nasscom believes that cloud computing and software-as-a-service (SaaS) provide excellent paradigms for software product companies to reach out to the mass of small businesses that require IT solutions.

SaaS allows small businesses to pay for what they need at the time they need it, instead of spending large sums upfront on IT solutions that are implemented onsite. This could substantially reduce the costs of IT, as also increase the ability of small businesses to access IT solutions.

Som Mittal, president of Nasscom, urged software product companies to rework their business models to provide their solutions as services.

Sharad Sharma, chairperson of the product forum of Nasscom and part of VC fund Canaan Partners, said the small business segment was opening up “really well”. “There’s a lot of opportunity for Indian software product companies in this because many of these companies have solutions that are world class,” he said.

He also noted the growing eagerness of large system integrators to work with software product companies to add value to their offerings. Product companies, he felt, could use such partnerships to reach global customers.

Agencies