Mumbai, February 02, 2019: IndiaFirst Life Insurance, a joint venture between Bank of Baroda, Andhra Bank, and Legal and General (UK) bought a 9.01% stake in CSC e-Governance Services India Limited.
“The company’s association of more than four years with CSC is further strengthened through this shareholding. IndiaFirst Life’s increased association with CSC will help to realize our common objective of providing simple, easily accessed risk management solutions to the masses and underserved customers through the network of over 2,50,000 centers run by CSC”, said RM Vishakha, MD & CEO, IndiaFirst Life.
The Common Service Centre (CSC) Scheme is an integral part of the “Digital India” initiative led by the Government of India’s Ministry of Electronics and Information Technology (MeitY). The CSCs are ICT-enabled at the front-end service delivery points even in the rural zones, enabling delivery of government, financial, social and private sector services.
Commenting on this association, Dr. Dinesh Tyagi, CEO, CSC e-Governance Services India Limited said, “CSC is pleased to welcome IndiaFirst Life as a significant shareholder. In the financial inclusion journey, the two entities are associated for over four years and have worked towards enabling Village Level Entrepreneurs for reaching out to the last mile customers with tailored solutions. IndiaFirst Life continues to demonstrate initiative, drive, and commitment to providing simple, affordable and technology-supported insurance solutions for the customer. We look forward to an even stronger association and to take forward our joint commitment to protecting every Indian.”
In the recent past, IndiaFirst Life Insurance along with CSC introduced a bespoke Plan – ‘IndiaFirst Life CSC “Insurance Khata”, customized for this segment. More than 40,000 lives are insured under this scheme, as on date.
“Our collective endeavor as an organization has been to offer thoughtful solutions to the mass and micro markets while making insurance not only affordable but also accessible and attractive for all”, she added.
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