IFFCO-TOKIO & Cooperatives: Micro Insurance

New Delhi, Dec 4 (PTI) IFFCO-TOKIO General Insurance Company, which is celebrating the silver jubilee of its foundation, on Thursday said it has tied up with a number of cooperatives to distribute micro insurance for package policies.

Established in 2000, IFFCO-TOKIO GIC is a 51:49 joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) and Japan-based Tokio Marine Group.

"While at the beginning we were guided by the principal of affordable insurance, the vision has got enlarged to align with people's aspirations and robust economy, while committed towards IRDAI's 'Insurance for All by 2047'," said Subrata Mondal, its Managing Director and CEO.

Taking inspiration from various initiatives of IRDAI, IFFCO-TOKIO has brought out affordable insurance solutions for under-covered communities, the insurer said in a release.

"To serve this purpose, the company has tied up with a number of cooperatives to distribute micro insurance for package policies, health, and motor policies," it added.

IFFCO-TOKIO GIC offers retail products, including motor, health, travel, home and personal accident insurance and corporate insurance products.