IDBI Federal Life Insurance Co. Ltd.

,(formally IDBI Fortis Life Insurance) is a joint venture

between three financial companies – development and commercial bank, IDBI Bank, India’s
private sector bank, Federal Bank and European insurer Ageas (formerly Fortis), which was
formed on March 2008.[3] In this venture, IDBI Bank owns 48% equity while Federal Bank and
Ageas own 26% equity each.[4]

Contents
[hide]

 1 History

 2 Technology

 3 Products

 4 Sponsorships, Awards

 5 See also

 6 References

 7 External links

[edit] History
 2006: IDBI Bank, Federal Bank and Belgian-Dutch insurance major Fortis Insurance
International NV signed a MoU to start a life insurance company

 2008: IDBI Fortis Life Insurance Co. Ltd., which started its operations in March 2008

 2008: IDBI Fortis opens its second branch in Andhra Pradesh in Vijayawada

 2008: IDBI Fortis Life positive on assured return products

 2008: IDBI Fortis launches the Bondsurance Plan

 2009: IDBI Fortis announces Rs 250cr capital infusion

 2009: Nimbus ropes in IDBI Fortis as title sponsor of India–Sri Lanka series

 2009: 'IDBI Fortis' Boss-Ka-Boss receives PRCI Award

  2009: IDBI Fortis launches Retiresurance™ Pension Plan

 2009: IDBI Fortis scores with Goalsurance™

 2009: IDBI Fortis reaches the banks of Hoogly

 2009: IDBI Fortis launches Incomesurance™ Immediate Annuity

 2009: IDBI Fortis Life Insurance uses an interactive application to help users easily
calculate their taxes

 2009: IDBI Fortis reaches the City of Eastern Light

 2009: IDBI Fortis receives bronze Dragon at 'PMAA 2009'

 2009: IDBI Fortis Life Insurance introduces financial inclusion plan in rural Orissa

 2009: IDBI Fortis launches Termsurance™ Protection Plan

 2009: IDBI Fortis redefines endowment & money back with Incomesurance™

 2009: IDBI Fortis to open 65 more branches; raise headcount by 1,000

 2010: IDBI Fortis now renamed as IDBI Federal Life Insurance Company[5]

[edit] Technology
To monitor and manage its network equipment across 34 sites, IDBI Fortis uses Tulip Proactive
Managed CE solution. The solution includes device management, proactive troubleshooting and
notification support. With the implementation of the solution, IDBI has reported improvement of
network performance and availability, with a faster, more effective change and configuration
management.[6]

[edit] Products
IDBI Fortis launched its first set of products across India in March 2008, after receiving the
requisite approvals from the Insurance Regulatory and Development Authority (IRDA). IDBI
Fortis offers services through a nationwide network across the branches of IDBI Bank and
Federal Bank in addition to a network of advisors and partners. IDBI Fortis has 35 branches
across the country.[7]

[edit] Sponsorships, Awards

  IDBI Fortis Life Insurance Company was selected as the title sponsor for the India-Sri
Lanka Cricket Series 2009, consisting of five One-Day Internationals and a Twenty 20
match. The ODI series will be called the IDBI Fortis Wealthsurance Cup. This will be
followed by the IDBI Fortis Wealthsurance Twenty20.[8][9]

 ‘Wealthsurance Made Easy’ (WME), a knowledge aid by IDBI Fortis for its sales force,
won The Bronze Dragon in the category for ‘Best Dealer/Sales Force activity’ at the
Promotion Marketing Awards of Asia (PMAA).[10][11]

[edit] See also

IDBI Fortis Life Insurance

IDBI Fortis Life Insurance Co. Ltd is a joint venture of IDBI Bank, Federal Bank (India) and Fortis
Insurance International. The Certificate of Registration has been issued by the Insurance regulator IRDA
to this Insurance Company on 19th December 2007. According to the agreement, IDBI will have a 48-per
cent stake in the venture, while Fortis and Federal Bank would have 26-per cent stake each. While IDBI
and Federal Bank are major Indian banks, Fortis has the expertise of bancasurance across global
markets. It is one of the best names in the insurance business in Europe and has successful joint
ventures in various Asian countries. IDBI Fortis Life Insurance has become 18th life insurer in India.

Founded in 1956, IDBI Ltd. is India’s premier industrial development bank. Today, it is amongst India’s
most famous commercial banks which provide a wide range of innovative products and services. IDBI
Bank has around 490 branches and more than 600 ATMs all over India. IDBI is a also a part of
development activities, as it has been
instrumental in sponsoring the development of key institutions involved in India’s financial sector, such
as, the Securities and Exchange Board of India (SEBI), National Stock Exchange of India Limited (NSE) and
National Securities Depository Ltd (NSDL).

Federal Bank is one of India’s leading private sector banks. It has a wide spread network in India, but its
dominant presence can be seen in the state of Kerala. It has around 550 branches and 450 ATMs spread
across the country. Federal Bank is one of the first large Indian banks, having an entirely automated and
interconnected branch network. The Bank also provide a wide range of services, such as, internet
banking, mobile banking, tele banking, any where banking, debit cards, co-branded credit cards, online
bill payment and call centre facilities to offer complete banking convenience to its customers.
Fortis is a European financial services provider which is engaged in banking and insurance. It has its
presence in over 50 countries. Fortis offers a comprehensive package of products and services in
collaboration with intermediaries and through other distribution partners. Fortis is counted among the
20 largest financial institutions in Europe. IDBI Bank, Federal Bank and Fortis Insurance International
with their expertise, now came together to provide the insurance benefits to the customers in India.
Below are the few insurance policies which are provided by IDBI Fortis Life Insurance Co. Ltd.

Homesurance

 Homesurance Protection Plan

 Homesurance Plan

Wealthsurance
Bondsurance
Group Microsurance

Contact Address
IDBI Fortis Life Insurance Co Ltd
1st Floor, Trade View
Oasis Complex, Kamala City
P.B. Marg, Lower Parel (W)
Mumbai - 400013
Website: www.idbifortis.com