Future Generali is shifting focus for using the data on millions of customers that outlets such as Big Bazaar or Home Town generate, instead of trying to selling any product to anyone walking into the stores.
The insurer has decided to use data analytics to study the need of the Future’s customers and push the right risk policy to boost growth. Future Generali India Insurance Company is working on to enhance its call centre facilities to enable them to handle the large flow of data, said KG Krishnamoorthy Rao, its MD and CEO.
He said that Future Group, which owns 74% of the insurance company, sees with 30 billion footfall every year at its stores. Italy based Generali holds 26% into the insurer with Rs 710 crore paid-up capital.
“We had tried mall-assurance a few years back but it proved to be a loss making proposition. The sales did not cover the cost of selling policies in malls, Now, we have shifted our focus to using the customer data from the 300 outlets of Future Group” Krishnamoorthy Rao told.