In the backdrop of the Children’s Day, Telenor India has started a new initiative of educating school students about life insurance. Insurance service providers Shriram Life and MicroEnsure are the partners in this venture.
As a part of this initiative, the employees of Telenor India distribute pencils to students in all circles and also distribute leaflets explaining the significance of life insurance. According to the company, Telenor will reach to over 30 lakh students across 4000 schools in 237 towns. The initiative started from 15 November 2016.
Speaking on this initiative, Sharad Mehrotra, chief executive officer, Telenor India Communications said, “It is imperative to create awareness among mass market customers around life insurance. As a socially responsible operator, Telenor aims to extend the benefits of life insurance to them. We believe children are the biggest influencers in a family and can contribute immensely in educating their parents on the importance of being insured. We are confident that the event will help us cascade message of financial security to their parents and enrich their lives beyond just connecting them to a mobile network.”
Manoj Jain, managing director, Shriram Life Insurance added, “Telenor India has proved to be a catalyst in our efforts to extend the benefits of life insurance to the socially weaker segment especially in rural areas. With this unique student outreach program, we will reach to a segment of society that has avoided getting insured due to challenges like long documentation process, premium amount and uncertainty around claim settlement process. The free life insurance offer combines a traditional financial product with the reach and technology of a mobile operator to make it simple and easy for the customers.”
Telenor has a free life insurance scheme called “Suraksha”, jointly launched in collaboration with Shriram Life Insurance and MicroEnsure. This can be claimed as a first-of-its-kind initiative by any telecom operator in India. Available in its six operating circles, Telenor Suraksha has a subscription of 24.5 million customers. In order to avail this free life insurance, the customers have to maintain a minimum average recharge per month. The maximum life cover under this scheme is Rs. 50,000 per person. Also, the scheme doesn’t demand much documentation and it promises to settle the claims within seven days.
“More than 200 families have already been compensated under this scheme across India,” Telenor said in a statement released.
Telenor India a wholly-owned company of the Norway-based Telenor Group. Telenor India has commercial operations in UP (West), UP (East), Bihar (including Jharkhand), Andhra Pradesh (including Telangana), Maharashtra (including Goa) and Gujarat.