ICICI Pru Life Enters Rural With Micro Offices, Biometric Cards

Mangalore: ICICI Prudential Life Insurance seems to believe in a mix of biometric smart cards and micro offices to reach rural market. While the company is mulling to reach more rural customers through the set up of micro offices, it is also targeting at the government-sponsored e-initiatives in various States to increase the use of biometric cards in rural areas. Of the nearly 750 branches of ICICI Prudential Life Insurance in the country, nearly 250 are in rural areas. Called as micro offices, these 250 branches are located in Punjab, Gujarat, Andhra Pradesh, Kerala and West Bengal.

The company recently unveiled biometric smart cards for its rural customers in a few States. With these cards, the policy-holders can carry all policy details without any papers and store transaction details. A rural customer does not have to go to the branch located in a distant place. He can go to the nearest FINO (Financial Information Networks Operation) Fintech access points, where the customer can swipe the card, authenticate himself. This was unveiled around three months ago in some places in Punjab and Andhra Pradesh. At present, around 50 FINO Fintech points are available for the transaction. To make better use of the biometric cards, the company is planning to take the benefit of government-sponsored e-initiatives like ''AP Online'' in Andhra Pradesh and e-mitra in Rajasthan.