No. PB-01/12/2022-PBI-DOP
Government of India
Ministry of Communications
Department of Posts
(PBI Division)
Dak Bhawan, New Delhi
Dated 29 July 2022
Subject: - Azadi ka Amrut Mahotsav with Gift An Insurance: 01st -15th August
2022.
Subsequent to launch of TATA Group accidental guard (TAG), the product has attracted popularity due to simplicity and benefits of the product. To celebrate the Azadi Ka Amrit Mahotsav and commemorate 75 years of independence it has been proposed to cover more people under the umbrella of IPPB Group Accidental Guard Insurance(GAG) which will further improve the financial inclusion in the society.
Hence, a focused drive of “Gift An Insurance” campaign will be held from 1st August to 15th August, 2022 on group accidental guard. The details of the drive are as under: -
(a) Target Segment
i. House Hold Help
ii. Sweepers
iii. Servants & Security Guards
iv. Labours in unorgnaized sector
v. Hawkers & Rickshaw Pullers
vi. Delivery Persons (Like Zomato, Swiggy etc but not Ola Uber drivers, also not for drivers whose profession is driving )
vii. Construction sites for only sites with height upto 10 meters, road construction sites etc.
(b) Target: 7,50,000 policies to cover 7.5 lakhs citizens within 15 days to celebrate “Azadi Ka Amrit Mahotsav”. The Circle and Region wise targets are enclosed as Annexure-l.
(c) Minimum performance:5 policies per end user within 15 days
(d) Participants: End users from department of post (POSP certification is not required for this) and Counter PAs (If holding Micro ATMs).
(e) Benefits to customers: The details are enclosed as Annexure-ll.
(f) Benefits to the Department of Posts:
Social services to the under privilege.
Additional commission to motivate the End Users and enhance their earnings applicable as per the ongoing campaign: Mission Suraksha- 5 lakh
Customer stickiness and end user activation
Incentive to Department along with end users (Applicable as per the ongoing campaign: Mission Suraksha- 5 lakh)
(g) Benefits to the bank:
Expected login of Rs. 26 Cr. Premium which shall provide INR 3.80 Crore revenue to the bank.
The revenue will be recurring as Accidental Guard policies to be renewed every year.
This product will increase the customer activity in their accounts.
Improved Revenue from General Insurance.
Improved Product Bouquet
(h) R&R for DOP end users: Rewards and recognition of DoP end users has
also been proposed as given in Annexure-III.
