DHFL Pramerica Life Insurance wins the Celent 'Model Insurer Asia' Award at the Model Insurer Asia Summit

Company recognized for its efforts in using technology to facilitate service delivery in rural markets

New Delhi- DHFL Pramerica Life Insurance Company (DPLI) has been awarded the Celent ‘Model Insurer Asia’ Award 2014 in the ‘Distribution: Other channels’ category for its pioneering efforts in using technology to make life insurance services easily accessible to the underdeveloped/ underserved rural markets. The award was presented to DPLI at the Celent Model Insurer Asia Summit held in Singapore last month.

Commenting on this, Mr Anoop Pabby, CEO Designate, DHFL Pramerica Life Insurance Company , said, “It is indeed an honour for DPLI to be conferred the Celent ‘Model Insurer Asia’ Award 2014. A large chunk of India’s population remains uninsured and as a result, financially unprotected. As a company that is committed to protecting lives and providing financial security, it has been our constant endeavour to reach out to these markets and make life insurance accessible, understood and accepted by the rural population. The recognition of the novel IT solutions we have deployed to service this customer segment speaks volumes about DPLI’s entrepreneurial mind-set and innovative abilities.”

To effectively reach out to the rural population, DPLI developed an innovative technology interface 'Proposal to Policy Issuance Technology Platform' (PPITP) that has been integrated with the national e-Governance agency’s platform to manage customer acquisition and service delivery in the rural markets in a cost efficient manner. The platform facilitates filling of application forms, issuance of policies, premium collections, etc., bringing value to rural customers.

PPITP has helped DPLI penetrate faster and deeper into more than 15,000 locations/touch points of rural India, acquire over 57,000 customers of the underserved rural population, and generate a fee earning for over 10,000 individuals. The platform was one of the key enablers that helped DPLI achieve its strategic business vision of penetrating and leveraging high potential rural markets. Today, business from the rural distribution channels contributes significantly to DPLI’s revenues.

Some of the previous awards won by DPLI include Best Insurer Technology Award 2011 by Celent and Asia Insurance Review, and the SKOCH Financial Inclusion Award, 2010-11.

About DHFL Pramerica Life Insurance (DPLI)

DPLI is a joint venture between Dewan Housing Finance Corporation Ltd. (DHFL), India’s second largest private sector housing finance company and Prudential International Insurance Holdings, Ltd. (PIIH), a fully owned subsidiary of Prudential Financial, Inc. (PFI), a financial services leader headquartered in the U.S. DPLI represents the coming together of two renowned financial services organizations with a legacy of business excellence spread over decades. The life insurance joint venture agreement between the two partners was signed in July 2013.

DHFL Pramerica Life Insurance, which was earlier known as DLF Pramerica Life Insurance started operations in India on September 01, 2008 and has a pan India presence through multiple distribution channels which have been customized to address the specific insurance needs of diverse customer segments. The Company is committed to providing protection and quality financial advice to its customers.

For further details on the Company, please visit www.dhflpramerica.com.

About DHFL

DHFL was founded in 1984 by Late Shri Rajesh Kumar Wadhawan with a vision to provide financial access to the lower and middle income segments of the society. Today, led by Mr. Kapil Wadhawan, CMD, DHFL, the Company is one of India’s leading mortgage finance institutions with presence in over 450 locations across the country, in addition to representative offices in Dubai and London.

All through its years of growth, DHFL has stayed with its core vision of financial inclusion. The Company’s wide network, coupled with insights into local customer needs has enabled the Company to provide meaningful financial access to customers even in India’s smallest towns. With a strong business foundation, an extensive distribution network, proven industry expertise and a deep understanding of the Indian customer, DHFL is one of India’s largest financial services companies.

For further details, please visit www.dhfl.com.

About PFI

Pramerica* is a trade name used by Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States, and its affiliated companies in select countries outside the United States. PFI (NYSE: PRU), a financial services leader with more than ,1 trillion of assets under management as of December 31, 2013, has operations in the United States, Asia, Europe and Latin America. PFI’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., PFI’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, a company incorporated in the United Kingdom.