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Reliance General to foray agriculture insurance

Reliance General is empanelled by the central government to implement weather-based crop insurance scheme in 21 states

August 19, 2013 11:06 IST | India Infoline News Service
Reliance General Insurance, a part of Reliance Capital, has forayed into agriculture insurance business, with products giving financial protection from changes of weather to crops sown by farmers across India.

The products include weather as well as yield-based insurance schemes which are aimed at providing protection to farmers from the problems arising due to the vagaries of weather.

Reliance General has been empanelled by the central government to implement weather-based crop insurance (WBCI) scheme in 21 states.

Last week, the private insurer said that it is focusing to service the SME (small and medium enterprise) sector through the sale of health insurance products as parts of its plans to achieve full-year profitability this fiscal.

According to Reliance General, SME sector is a highly under-penetrated, widespread and unorganised with most organisations in the country not providing health insurance cover to their employees.

The insurer is training its agents to tap the SME sector and aims to achieve about 10% business from SMEs and corporates.

The insurer recently launched Reliance HealthGain for the retail segment. The product is a comprehensive Health Insurance plan specially designed to focus and support the healthcare needs of women.



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