National Insurance to add schemes for poor

Indore, Aug 25: The National Insurance Company today said it will add 16,000 more agents during this financial year, adding that the company will also come up with a micro insurance scheme for the poor people.

''We have a target of adding 16,000 more agents which would take the total number of agents to one lakh in this financial year,'' Company Director and General Manager Sujit Das told reporters here.

The company is coming up with a micro insurance scheme for the poor with a small premium and covering their health, household and personal accident claims, he said.

This policy of Rs 30,000 insurance amount will soon be introduced with the help of Government of India. The company has already launched Universal Health Plan for the lower income class people.

The company has been planning to expand its network in the rural areas so that the people there could be covered by general insurance products, Mr Das said.

''The entry of private players in the general insurance market had also benefitted us and we have improved our services a lot.

Our market share has declined but the overall business had increased,'' he said.

At present the company's market share is 15 per cent and it has fixed a target to achieve 16 per cent market share by this financial year. ''This would increase the total annual premium from Rs 3,800 crore to Rs 4,600 crore,'' he added.

Mr Das said the company had also initiated the restructuring process and a private firm had been deputed for this. After receiving its report, the restructuring process will start.

UNI