Future Generali adopts Tele-commerce to enable premium payments

First insurance company in India to offer end-to end Life and non-Life insurance premium & renewal payments over phone

atom technologies, a pioneer in providing Tele-Commerce solutions today announced the successful implementation of atom IVR, at Future Generali, India’s leading total insurance solutions player.

Future Generali, the insurance joint venture between India’s Future Group and Generali of Italy adopted Tele-commerce to offer its customers convenience to make premium or renewal payments in a hassle free and time saving manner just by using a phone and their credit cards. With this implementation Future Generali becomes the first insurance company in India to provide end-to end Life/non-Life insurance premium and renewal payment option over the phones.

“With a vast section of the Indian market still relatively uninsured and underinsured, Future Generali, as a Total Insurance Solutions provider, envisages a huge potential for growth and is looking at technology as a key enabler in achieving its objectives.” said Anup Seth, Head – Mallassurance Channel – Future Generali He further added, “With the increasing penetration of cell phones, mobile commerce is set to witness tremendous growth over the coming years. With our IVR service, our customers can now make their premium payments using their mobile phone. atom’s IVR platform also ensures that payments are secure, fast and convenient ”

“It gives us great pleasure to partner with Future Generali, one of the leading insurance companies in India. We are confident that our solutions will help insurance companies in serving their customers better and ease their premium collection process. It will also reduce their cost overheads as cost per transaction will come down for them.” said Dewang Neralla, Director – atom technologies.

To avail this service, a customer needs to dial in to a Future Generali call center and speak to the CSR (Customer Service Representative) for renewal of an existing policy or to buy a new policy. The CSR initiates the three way conference call between customer, atom and himself, as the call is connected the IVR prompts the customer to enter credit card details on the phone’s key pad. The transaction is completed when the IVR reads out the successful authorization.

About Atom Technologies
atom technologies is a digital, retail initiative of the Financial Technologies Group, a group that has pioneered creation of digital marketplaces and technology solutions for the financial markets. atom was formed in 2006 to focus on harnessing the digital transaction ecosystem for payments with a special focus on the ever-increasing mobile ecosystem. As a mobile payments service provider, atom, through innovative use of technology in the mobile transactions ecosystem, has created multiple “patent pending” products & services for mobile payments, mobile banking for the un-banked, IVR based payments & mobile based service distribution framework. Today, its services have seen more than $ 30 million+ of transactions going through its environment with client list spanning the best of the associates in the industry. For more details on atom, log on to www.atomtech.in

About Future Generali
Future Generali is a joint venture between the India-based Future Group and the Italy-based Generali Group. Future Generali is present in India in both the Life and Non-Life businesses as Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd. Future Generali is currently active through 93 branches across 84 cities and over 36,000 licensed advisors. Besides this large network of agents & branches, Future Generali also actively offers their Insurance solutions across 176 Future Group malls

About Tele-Commerce
“Tele-Commerce”, a term which combines together all electronic payments made over the mobile as well as landline phone (ex: through IVR systems). The term was a dire need of the telecom and e-payment industry for representing wide-ranged payment solutions over the telephone, under one macro expression for an instant connect with the masses.

The term was first coined by an Indian company, atom technologies, a group company of Rs. 1300 crores Financial Technologies Group. atom technologies is the pioneer in providing comprehensive payment solutions in the new found tele-commerce space. Till date atom has successfully completed over 1000 transactions in the tele-commerce arena, which includes payments made over mobile phones (buying movie/airline tickets etc.), through atom IVR (paying insurance premium online, subscribing to DTH etc.) and driving micro-finance through mobile payments.

Generali Group
The Generali Group is one of the most significant participants in the global insurance and financial products market. The Group’s Parent and principal operating Company is Assicurazioni Generali, a market leader in Italy, founded in 1831 in Trieste. Characterized from the outset by a strong international outlook and now present in 64countries, Assicurazioni Generali has consolidated its position among the world’s leading insurance operators.

• Generali Group is one of the leader insurance groups in Europe, with a 2008 total premium income of € 69 billions
• It is present in 64 countries
• It has over 60 millions clients worldwide
• It has 84,063 employees (15,706 in Italy)
• It has over € 350 billion of assets management

Future Group
Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s leading business houses with multiple businesses spanning across the consumption space. While retail forms the core business activity of Future Group, group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics.

Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million square feet of retail space in 71 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock exchanges. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail.

In 2008, Big Bazaar opened its 100th store, marking the fastest ever organic expansion of a hypermarket. The first set of Big Bazaar stores opened in 2001 in Kolkata, Hyderabad and Bangalore.

The group’s specialty retail formats include, books and music chain, Depot, sportswear retailer, Planet Sports, electronics retailer, eZone, home improvement chain, Home Town and rural retail chain, Aadhaar, among others. It also operates popular shopping portal, futurebazaar.com.

Future Capital Holdings, the group’s financial arm provides investment advisory to assets worth over $1 billion that are being invested in consumer brands and companies, real estate, hotels and logistics. It also operates a consumer finance arm with branches in 150 locations.

Other group companies include, Future Generali, the group’s insurance venture in partnership with Italy’s Generali Group, Future Brands, a brand development and IPR company, Future Logistics, providing logistics and distribution solutions to group companies and business partners and Future Media, a retail media initiative.

The group’s presence in Leisure & Entertainment segment is led through, Mumbai-based listed company Galaxy Entertainment Limited. Galaxy leading leisure chains, Sports Bar and Bowling Co. and family entertainment centres, F123. Through its partner company, Blue Foods the group operates around 100 restaurants and food courts through brands like Bombay Blues, Spaghetti Kitchen, Noodle Bar, The Spoon, Copper Chimney and Gelato.

Future Group’s joint venture partners include, US-based stationery products retailers, Staples and Middle East-based Axiom Communications.

The group’s flagship company, Pantaloon Retail was awarded the International Retailer of the Year 2007, by the US-based National Retail Federation, the largest retail trade association and the Emerging Market Retailer of the Year 2007 at the World Retail Congress in Barcelona.

Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group’s core value of ‘Indianness.’ The group’s corporate credo is, ‘Rewrite rules, Retain values.’

For more information please contact:
Adfactors PR Pvt Ltd.

Annu Dwivedi
Cell: +91 -9930143515
Landline: 022-22871361 ext (217)
Email: annu.dwivedi@adfactorspr.com

Vikram Kharvi
Cell: +91 – 9930143550
Landline: 022-22871361
Email: vikram.kharvi@adfactorspr.com

atom Technologies

Ali Hussain
Cell:+91 9930267728
Email: ali.hussain@atomtech.in

Ogilvy Public Relations

Lalita Aiyer
Cell: 9819199825
Landline: +91 22 44344138 /
Email: lalita.aiyer@ogilvy.com

Manallii Ajmera
Cell: 9833763484
Landline: +91 22 44344512 /
Email: manallii.ajmera@ogilvy.com

Future Generali

Sunanda Parekh
Cell: 9820111136
Landline: +91 22 40976541
Email: sunanda.parekh@futuregenerali.in

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