l to r- Surbhi Goel, CEO, Munich Re India branch , Girija Subramanian, CMD, New India Assurance(NIA) Rohini Hattangadi, bollywood actress and Smitha Srivastava, executive director, NIA, at the launching of NIA’s exclusive cover for women entrepreneurs  `New India Mahila Udyam Bima’ on Monday

IRDAI is in the process of launching the e-marketplace called Bima Sugam and Bima Vistaar where in Bima Vahaks or sales persons would be predominantly women who would sell simple insurance products across the country especially in the rural hinterlands. This is poised to revolutionise the insurance penetration across the country, said Subramanian

Mumbai: Encouraging larger participation of women in the Indian insurance sector, Girija Subramanian, CMD, New India Assurance, has said the sector can expand and the penetration agenda can be met more successfully if women increasingly become part of its ecosystem.

“As customers, they can be encouraged by insurers customising products to cater to their unique requirements. As employees and distribution agents, women are poised to change the insurance landscape,’’ said Subramanian while launching NIA’s exclusive product for women entrepreneurs  `New India Mahila Udyam Bima’ on Monday on the occasion of International Women’s Day.

“ New India Mahila Udyam Bhima policy  is our gift to our women entrepreneurs today. It will give them the moral courage and stability to dream big and achieve greater successes in short periods of time,’’ observed Subramanian.

Subramanian further informed that insurance regulator IRDAI is in the process of launching the e-marketplace called Bima Sugam and Bima Vistaar where in Bima Vahaks or sales persons would be predominantly women who would sell simple insurance products across the country especially in the rural hinterlands.

`This is poised to revolutionise the insurance penetration across the country, added Subramanian.

“Also, as leaders and policy makers, women are increasingly occupying positions of power like in our own company, bringing women centered decision making in our strategies and work culture,’’ she said..

NIA chief highlighted that Prime Minister, Narendra Modi has taken several strides in recent times to bring women to the forefront of our financial ecosystem.

The highly successful schemes of the Government of India like Beti Bachao, Beti Padhao scheme, the Pradhan Mantri, Mahila Shakti Kendra etc. have revolutionised the way women are treated.

“Today,` we see our Indian daughters aspiring and successfully getting into all kinds of occupations, some of them which were hitherto considered to be male bastions like being an airline pilot, being on the shop floor of a manufacturing plant etc,’’ she narrated.

Today many corner C-suites are occupied by women in India and government policies have ensured that many chairs in boardrooms are occupied by women. This momentum and growth should be kept alive to ensure gender diversity and merit in all walks of life, outlined Subramanian..

Justice is not only about bringing in large scale schemes addressing gender equality by governments but also daily small efforts or choices that call out removing biases, ensuring fair treatment at workplace and supporting policies that ensure security and dignity for all, she emphasised.

Subramanian noted that NIA, the largest non-life insurer in the country, has partnered with many women running small micro-businesses from their homes or modest business workplaces and give them a financial protection to enable a smoother journey for them towards financial independence and prosperity.

Starting with as low premium of Rs. 226 (excluding gst ) for covering fire and allied perils , loss of profit and burglary for a suminsured of Rs. 1 lac and Personal Accident cover for owner (death and permanent total disablement like loss of both limbs / eyes ) for a suminsured of Rs. 5 lacs. There are other optional covers like public liability , personal accident cover for employees and coverage for workmen compensation liability which can be availed at a nominal additional premium.