Source: The Hindu

Seeking to make big inroads into the Indian insurance market, the $650-billion Nippon Life Insurance Corporation of Japan will mainly focus on life insurance aimed at families along with products in health insurance and annuity, as a majority of the product portfolio in India was unit linked. “Death protection will be main products in the market to be required by Indian population. So will be health insurance, annuity. We will work with our partner Reliance Life Insurance to capture the latest trend of products in the insurance market and also develop new products suited for local requirements,” Nippon Life Insurance Corporation President Yoshinobu Tsutsui said.

The company, having already made investments worth around Rs. 4,500 crore in companies owned by the Anil Ambani group, said it would introduce its ‘mantra’ of post-sales service in the Indian market. “We always make it mandatory that all our sales people visit every customer at least once a year. This way not only we protect our customers and address their changing needs but also use the opportunity to cross sell or up sell or get a re-follow of another new customer. We would like to reciprocate this kind of experience also at Reliance Life,” Tsutsui said.
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