Generali Central Life Insurance aims to double business to ₹2,000 crore in 3 years

Generali Central Life Insurance plans to increase its business to ₹2,000 crore in the next three years, leveraging the bancassurance channel.

The insurer, a 74:25 joint venture between Italy’s Generali and the public‑sector Central Bank of India, ended FY 2025‑26 with a first‑year premium of ₹964 crore.

“We aim to double our business to ₹2,000 crore over three years, supported by our banking partner Central Bank of India and our agency network,” said Alok Rungta of Generali Central Life Insurance in a PTI interview.

“We intend to utilise the nationwide branch network of Central Bank of India and introduce new products this year,” he added.

The firm will target Tier‑2, Tier‑3 and Tier‑4 cities for new business, developing products tailored to customers in those regions and using technology tools to drive growth, he noted.

To help customers grasp their life‑insurance needs and make informed decisions, the insurer has introduced Digital Smart Manager (DSM), an AI‑powered platform that captures financial requirements and recommends appropriate solutions.

Using advanced AI, DSM turns complex terminology into clear, actionable advice, providing personalized, forward‑looking guidance with full transparency.

Featuring tools like human‑life‑value, child‑education planning, retirement, and portfolio‑analysis calculators, it lets advisers customize conversations according to each client’s financial priorities and life goals, he said.

Customers receive clear, visual guidance that simplifies decision‑making and builds confidence, ensuring they feel secure about their financial choices, he said.

For frontline teams, DSM helps create effective sales scripts that can be combined with dynamic, personalized benefit illustrations, instant product explanations, and competitor comparisons, he added.

Recently, Generali Central Life Insurance declared a bonus of ₹102.54 crore for FY 2026, representing a 21 % increase over the previous year. The bonus benefited more than 95,000 policies, underscoring the company’s commitment to delivering lasting value to policyholders.

The declared bonus shows almost a 75 % rise over the last five financial years, underscoring the company’s steady performance and dedication to rewarding policyholders.

Of the total bonus declared, ₹35.79 crore has been distributed as survival and maturity benefits, with the remainder set to accumulate as policy benefits payable in future years.

Published on June 2, 2026