FGII Takes The Initiative To Create Awareness Of Health Insurance Among Youngsters

* Through this campaign, the company aims to shift the traditional mindset wherein premiums are viewed as a loss rather than a protection ~ 

Future Generali India Insurance Company Limited (FGII) has launched the “Health Super Saver” campaign to encourage youth to consider their health as their most important asset. The initiative drives home the idea that health is a long-term investment. 

The campaign revolves around the company’s comprehensive individual and floater health policy, Health Super Saver. This unique product offers customers 80% off on premium for a claim-free year. 

The company has roped in celebrities like the renowned rapper Slow Cheetah and the evergreen actor- Anil Kapoor to appeal to the younger audience through an engaging rap song. The song conveys how an individual can earn a return on investment on their most important asset – their health. 

Anup Rau, MD & CEO, Future Generali India Insurance Company Limited (FGII), said, “Due to the Covid-19 pandemic, the need and appreciation for health insurance has increased. However, the youth in the country has still not put health insurance on their priority list. They view health insurance as an expense, not an investment. Premiums paid are seen as a “loss” if no claims are raised. With this campaign and our product that caters specifically to this demographic, we have begun to challenge the status quo and aim to bring about a shift in the mindset of the younger population." 

The latest FGII Health Super Saver campaign will run on major OTT platforms, Music Apps, and digital platforms of FGII. 

Mamaearth Appoints Zairus Master As The New Chief Business Officer

Mamaearth, one of the fastest-growing FMCG brands, has appointed Mr. Zairus Master as Chief Business Officer, Honasa Consumer Pvt. Ltd. In his current capacity, he will be leading the revenue functions and develop a strategic roadmap to further accelerate the brands growth and expansion.

Mamaearth has grown exponentially over the past few years and is expanding at a rapid rate and to build upon the business, the brand has added Zairus to the team. With over 24 years of experience across FMCG and telecom, he will utilize his expertise to identify and explore long-range strategies. With a post-graduation from IIM, Lucknow, Zairus has worked has experience with renowned brands like Unilever, Nokia, Airtel and Shine under his belt.

In accepting the position, Zairus stated, “Honasa Consumer is going from strength to strength with brands like Mamaearth and The Derma Co.; one being a purpose-driven brand and the other providing science backed solutions for skincare. The organization has changed the way FMCG companies conduct business, and I am proud to be part of the leadership team. I look forward to being a part of the trailblazing growth of the brands and company.”

Commenting on the appointment, Mr. Varun Alagh, Co-founder, and CEO, Honasa Consumer Pvt. Ltd. said, “As we continue to grow the Honasa Consumer portfolio, it is important to get the right people on board to give the right push to the brand before you take it forward. Zairus brings with him a great mix of experience across traditional consumer giants like HUL & Airtel combined with running a digital product business which we believe is the right combination of experiences needed to grow a digitally driven consumer business like ours.“

Mr. Zairus Master will be based out of the Gurgaon office and this appointment comes on the heels of other critical and strategic additions to the leadership team of Mamaearth.

ABOUT MAMAEARTH

Founded by power couple Ghazal Alagh and Varun Alagh, Mamaearth is Asia’s first brand with Madesafe certified products that offer 100% toxin-free & natural baby care, skincare, and hair care products. Driven by innovation and using the best of science and Ayurveda, the brand caters to all personal care needs of young, aspirational, and increasingly conscious Indian consumers.

In a short span of 5 years, Mamaearth has created a product portfolio of 140+ products packed with goodness inside, has reached over 5 million customers in 500 Indian cities, and is the fastest-growing FMCG start-up to hit 500 Cr run rate in India. Mamaearth products are available on www.mamaearth.in, major eCommerce platforms like Amazon, Nykaa, Flipkart, and over 10000 stores across the country.

Get Ready For A Riot Of Laughter As Liongate Play Announces Its Latest New Original, “Feels Like Home”

* Created by Sidhanta Mathur, the Ensemble Cast Includes Millennial Stars Vishnu Kaushal, Prit Kamani, Anshuman Malhotra, and Mihir Ahuja 

Lionsgate Play, a premium streaming service on STARZ’s global subscription platform announced the production of its next Indian Original ‘Feels Like Home’.  The coming-of-age series, steered by Sidhanta Mathur and starring talented young heartthrobs Prit Kamani, Anshuman Malhotra, Vishnu Kaushal and Mihir Ahuja, joins a star-studded Lionsgate Play slate of original series that already includes the remake of Lionsgate’s U.S. hit series ‘Casual’ and the college romance drama ‘U Special’. 

“Feels Like Home” (working title) chronicles the lives of four boys in their 20s, Lakshay (Prit Kamani), Sameer (Anshuman Malhotra), Avinash (Vishnu Kaushal) and Akhil (Mihir Ahuja), who move into their first house away from home together. The series provides a fascinating peek into their lives, showcasing their eventful journey and transition from boys to men, in a candid, witty storytelling style. The primary director of the series is Sahir Raza. 

Sidhanta Mathur is well known for his powerful stories bending stereotypes with titles like ‘Little Things’, ‘Minus One’, and ‘What the Folks’. Popular among millennials as a content curator, Vishnu Kaushal has earned a reputation for addressing burning social issues.  Prit Kamani became a household name with his recent hit film ‘Maska’.  Versatile Anshuman Malhotra won accolades for his first film ‘Haider’ and has seen his career continue to evolve while Mihir Ahuja adds a charismatic touch to the story, recently portraying thenaive young boy next door in the mini-series ‘Feels Like Ishq’. 

Lionsgate is a global content leader associated with top Indian artists Lara Dutta,  Prateik Babbar, Sumeet Vyas, Arjun Mathur and many others as well as talented directors Kunal Kholi, Akarsh Khurana and Adhaar Khurana. Lionsgate Play’s growing roster of Indian original series joins the studio’s global slate of bold, edgy premium series including ‘Heels’, ‘Love Life’, ‘Power Book III: Raising Kanan’ and ‘Power Book II: Ghost’. 

Announcing the latest addition to the Originals slate, Rohit Jain - Managing Director Lionsgate South Asia and Networks - Emerging Markets Asia, said, “At Lionsgate Play we are looking to create a fantastic mix of premium content from Global to Indian. Our Indian original slate is well rounded with stories from an urban family to a college drama and now a sneak peek into the lives of four boys who our viewers will love. We want to tell more local stories and bring them to a global audience by continuing to expand our slate of Indian Originals across languages and genres. We’re proud to add our latest original series featuring cutting edge young talent that will resonate with our audience.” 

“Feels Like Home” is a show revolving around four youngsters and how they deal with what life is throwing at them. We have a very talented cast on board, and we’re so happy to have the series presented exclusively on Lionsgate Play, which has become the new go-to entertainment platform for young adults.” added Sidhanta Mathur – Founder, Writeous Studio and the Creator of “Feels Like Home.” 

About Lionsgate Play  

Lionsgate Play, a premium streaming service from Lionsgate India and Starz, offers bespoke Hollywood content for Indian consumers. It boasts thousands of hours of Premium Hollywood content including Premieres, billion-dollar Franchise Movies and binge worthy Box Sets. Lionsgate Play has a widely distributed network in the region spanning partnerships like Vodafone Idea, Bharti Airtel, Jio FTTH, Apple TV+, Amazon Firestick, OEM’s with an ambitious roadmap ahead. Lionsgate Play also develops and produces a diverse slate of high budget premium Indian originals. 

RapiPay Appoints Nipun Jain As The New Chief Executive Officer

RapiPay, India’s leading assisted payments Fintech company announced the appointment of Nipun Jain as the Chief Executive Officer (CEO) of the company.  

Mr. Jain has a rich experience of three decades as a Retail Banking professional with expertise in setting and scaling up of businesses. He is proficient in managing large retail assets, business banking, and branch banking franchise. Prior to joining RapiPay, he has previously worked with Yes Bank and ICICI Bank.  

“RapiPay intends to be one step ahead in the growing fintech space and is set to take the lead by getting into newer businesses to fulfill country’s ever-growing demand for banking, financial and payment services. Nipun Jain’s appointment as CEO is a crucial step on that path and I wish him continued success in his new role and look forward to greater achievements” said S.K. Narvar, Promoter, RapiPay Fintech Pvt. Ltd. 

“I am also excited to see how RapiPay will continue to grow, evolve and be a one stop destination providing a digital financial ecosystem to Indian consumers” added Mr. Narvar. 

The leadership rejig at RapiPay is with an objective to gain foothold in Neobanking domain and thus expand the company’s business further. RapiPay is working on expanding its footprint in the rural areas and Tier II cites to foray into newer businesses such as digital lending, POS, Digital Cards, Investments, Insurance and other financial services 

Sharing this news, Mr. Yogendra Kashyap, MD, RapiPay Fintech Pvt. Ltd. said, “Nipun Jain has an impressive track record in various banking services, and I am happy to welcome him as the CEO of the company. His proven leadership, deep expertise in Banking and passion for client-driven innovation will make him the ideal fit to lead RapiPay into its next chapter.”  

On his new role Nipun Jain said, “I am extremely excited to lead the team at RapiPay, joining an organization that is well-positioned to grow the financial inclusion to the last mile in the country by shaping the future of assisted payments and financial services through Neo banking” 

Nipun Jain joined Yes Bank in 2013 as President of Retail Consumer Loan and was elevated as Group President, heading the SME business of Yes Bank. He has also held the position of Product Head at the ICICI Bank from 2006 – 2013. Jain brings with him a rich repertoire of experience in growing and managing retail business, developing process, products, and retail franchisee with focus on profitability.  

RapiPay has witnessed a robust growth of 25% month on month since January 2021. The number of direct business outlets have also increased from 1.5 Lakhs in Jan 2021 to 3 Lakhs in August 2021 and plans to grow it to 1 million in the next 2 years. 

About RapiPay 

S.K. Narvar promoted RapiPay Fintech Pvt. Ltd., a subsidiary of Capital India finance Limited,is instrumental in growing financial inclusion services in the country. With a network strength of over 3 lakhs Direct Business Outlets providing services like AEPS, Micro ATM, Bill Payments, Money Transfer etc., RapiPay is serving more than 15 million underbanked consumers monthly. RapiPay is soon launching its Neobanking services and is building a complete digital financial services ecosystem for Indian consumers.  

Visa To Enable Deeper Financial Inclusion With Offline Payments In Indian Market

* After a successful pilot in Karnataka last year, Visa has advanced to the next stage, making offline payments possible with a proof of concept

Visa (NYSE: V), the global leader in digital payments, is driving a Proof of Concept (POC) for offline digital payments in India. A first for the domestic payments ecosystem, the initiative is led by Visa in partnership with YES BANK and Axis Bank. The offline payments technology will allow users to make transactions using chip-based Visa debit, credit and prepaid cards even in places with low or no internet connectivity. Extending Visa’s commitment to RBI guidelines on offline payments, the solution is a significant step towards greater financial inclusion across rural, urban and remote areas. The POC has been executed in partnership with Innoviti in catchment areas in Bengaluru.

This thrust to offline payments underlines the government’s vision of digital and financial inclusion in Digital India. In a country where cards are the most popular instrument of digital payments[1] and customers and merchants are migrating from cash to digital, offline payments can allow deeper percolation in the country. Visa cardholders may soon get to request their banks for a fresh card that enables this solution.

The chip will hold a stored value of a daily spend limit of INR 2,000 and have a per transaction limit of INR 200, as currently mandated by the RBI. This is akin to having a wallet with a preloaded amount. In the event of insufficient balance, the transaction will be declined, making this proposition suitable for cardholders as well as merchants. Merchants also stand to gain revenue from reduced friction and risk of payment failures. Visa’s solution is the first of its kind and equipped to enter the Indian market.

“The pandemic’s unprecedented impact has spurred significant movement in the digital payments ecosystem. With the RBI’s cognizance of low and no connectivity being major impediments to financial inclusion, offline payments have the potential to catalyse digital payments usage even where internet connectivity is a challenge and failed transactions are a top concern. With this solution, Visa aims to work with our clients to see if this can scale with mass adoption,” said T.R. Ramachandran, Group Country Manager, India and South Asia, Visa.

Prashant Kumar, Managing Director and Chief Executive Officer, YES BANK, said, “To drive adoption of digital transactions in remote reaches of the country and ensure financial inclusion, the Bank feels it is indispensable to invest in the right technology tools that will help service a significant proportion of the digital payments market in Bharat. We are glad for this opportunity to forge a valuable partnership that allows us to leverage emerging technologies with the potential to enrich customer journeys and make them more convenient across the country. With this approach, YES BANK has taken another step towards fulfilling its vision of satisfying customer needs in a convenient, harmonious way, especially in rural areas.”

Commenting on the partnership, Sanjeev Moghe, EVP & Head- Cards & Payments, Axis Bank said, “We have been continuously working on innovations in the payments space to extend offerings that are low-cost payments acceptance solutions and a last-mile support for merchants. In this endeavour, we are delighted to partner with Visa for their first of its kind offline payments solution, which is a great opportunity for us to support micro-merchants in conducting their business smoothly.”

“Lack of Internet connectivity have limited the democratization of digital payment acceptance in the country, as all existing payment technologies need real-time connectivity for authentication and authorization.  Transaction failures arising from low quality connectivity impact consumer and merchant confidence, further impeding digital payment acceptance. Offline payments are a fast, reliable and low-cost way of solving this problem that can change the way payments happen.  We are excited about partnering with Visa, Yes Bank and Axis Bank in this pilot,” said Rajeev Agrawal, MD & CEO, Innoviti Payment Solutions, India.

Nearly 70% of India’s rural population and 33% urban population is yet to adopt a digital mode of payment[2]. This necessitates driving greater inclusion, with offline payments as a feasible solution to connectivity issues. Aligned with this vision, Visa successfully conducted a pilot for offline payments across five villages in Karnataka in December 2020. The pilot was an extension to the RBI’s guidelines issued in August 2020 that allowed payments operators to launch pilot programs for small value offline payments.

About Visa Inc.

Visa is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device. As the world moves from analogue to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce.

For more information, visit www.visa.co.in, https://www.visa.co.in/about-visa/blog.html and @VisaNews.

ICICI Prudential Life Insurance Posts A 120% Year-On-Year Growth In Retirement Category In FY2021

·         Retirement planning made easy with ICICI Pru Guaranteed Pension Plan

·         ICICI Pru Guaranteed Pension Plan offer innovative and customisable retirement solutions

·         Karnataka, one of the top 10 states for ICICI Prudential Life Insurance

ICICI Prudential Life Insurance has registered a growth of 120% year-on-year in FY2021 in retirement products as the impact of the pandemic on lives and livelihoods has put the importance of financial planning in the spotlight.

Covid-19 has served to remind people that financial health is as vital as physical and mental wellbeing, given the costs involved in medical treatment. As a result there is a growing trend among people choosing to be financially secure, especially after retirement.

Keeping in mind the needs of consumers who are planning their retirement, ICICI Prudential Life has come out with an innovative retirement solution – ICICI Pru Guaranteed Pension Plan – which provides a guaranteed regular income, enabling individuals to lead a financially self-sufficient retired life. This product makes retirement planning easy and offers individuals the flexibility to choose the frequency at which they wish to receive regular income i.e. monthly, quarterly, half-yearly, or yearly. Importantly, the regular income continues throughout the life of the policyholder and is not affected by market fluctuations.

The biggest worry retired individuals have is the rising cost of living and medical expenses. To address this issue, ICICI Prudential Life has developed an innovative retirement solution which offers increasing income. The regular income doubles after the fifth year and triples after the eleventh year. Individuals can purchase this product easily by making a one-time premium payment which is returned to the nominee upon the demise of the policyholder. The Company’s retirement planning products are most popular amongst individuals in the age group of 50 years and above.

ICICI Prudential Life’s, Chief Distribution Officer, Mr. Amit Palta said, “We are delighted to see the consumer response to the ICICI Pru Guaranteed Pension Plan’s innovative retirement solutions, which offer guaranteed lifelong income. The fact that it can be customised to receive income which doubles after the fifth year and triples after the eleventh year can take care of the rising inflation and medical expenses, making it very attractive for consumers planning their retirement. This customer-centric product offers industry-first features and has been voted ‘Product of the Year – Retirement and Pension Plans’ in FY2021. This product has been very well accepted by customers enabling us to grow our annuity business segment by 120% year-on-year in FY2021. Specifically, Karnataka is an important market and is one of the top 10 states for us in terms of overall business contribution.”

At the time of purchase, individuals can choose to receive regular income immediately or choose a future date to start receiving income, depending on their needs. By combining the immediate and deferred annuity options of the product, consumers can receive increasing income. In Immediate Annuity, customers start receiving guaranteed regular income immediately upon making a one-time payment. It is ideally suited for individuals who have retired or are just about to retire. Whereas, in the Deferred Annuity option customers can choose the date from which they wish to start receiving regular income, for e.g. individuals for whom retirement is some time away. Individuals can also defer the start of income for a period of 10 years. The longer the deferment, the higher is the regular income. Annuity or retirement products provide lifelong guaranteed regular income to lead a financially independent retired life.

MyGate Brings Affordable Health Insurance Scheme For Support Staff Of Its 3 Million Households

* Users can now purchase a daily cash benefit from Rs. 500 to Rs. 3000, with premium starting at Rs.155 per annum, which will be particularly useful to maids, drivers, cooks or nannies

The pandemic has laid bare the tenuous financial situation of India’s lower income groups, such as those employed as daily help. Simultaneously, there is growing evidence of a willingness among gated community residents to support their staff; for example, the MyGate Trust Circle report revealed that 76.04% of residents are now more likely to provide monetary assistance to their daily help as compared to pre-Covid times. Taking a cue from this behavioural shift, MyGate now enables its 3 million users to purchase a hassle-free Group Health Insurance cover. This comes at a low cost and is relevant to their domestic help, such as maid, nanny, cook or driver.

MyGate’s members can buy a group health cover that allows beneficiaries to claim daily cash benefit (Hospi Cash) for hospital admissions ranging from Rs.500 per day to Rs. 3000 per day for 30 days in a year with no deductibles. The policy premium starts at Rs. 155 and goes up to a maximum of Rs. 900. The policy is available for 12 months for those aged 18 years to 65 years. This cover is underwritten by Care Health Insurance.

“It has been heartening to learn of growing empathy toward support staff, as illustrated in the MyGate Trust Circle report. It is clear that gated community residents are looking for meaningful ways to give more to their support staff and we believe that Hospicash is a valuable benefit they can provide their maid, driver or nanny with” said Abhishek Kumar, COO and Co-founder, MyGate. 

Since March 2020, MyGate has made the health and safety of its users and the broader gated community ecosystem a priority. For example, it has launched more than 10 features specifically to combat the coronavirus, such as Leave at Gate, Temperature & Mask Check and Quarantine at Home. The organisation also organised mass RT-PCR and vaccination drives within gated communities and made the facility open to support staff as well. 

About MyGate

Founded in 2016, MyGate is the largest community app in the country, simplifying urban living of over 3 million homes in 20,000+ housing societies. It was ranked #4 on YourStory’s list of India’s Most Disruptive Start-ups in December 2019 and one of India’s coolest start-ups by Business Today in 2019. MyGate was founded by Vijay Arisetty, an ex- IAF pilot (Shaurya Chakra awardee), Abhishek K, former VP at Goldman Sachs, and Shreyans Daga, former project head at Oracle and Digit. For more information see https://mygate.com/