FADA Signs MoU with IndiaFirst Life Insurance Company to Promote their AutoLife Initiative

One word that describes India s traffic condition , the best would be chaotic .Every year our country loses USD 20 billion in road accidents, which is enough money to feed half the country s hungry children. As per figures recorded by the National Crime Records Bureau 2011, accidents have been showing a rising graph with 2.2% more deaths reported in 2011 than in 2010. Worryingly, the World Health Organization predicts that road accidents will become India's third biggest killer by 2020.

 

    The following facts bring to the fore the dire state of our road traffic today -
  • Every year, nearly 1,40,000 Indians die in traffic accidents;
  • Every hour, over 14 lives aged from 5 - 29 years are lost due to road accidents;
  • More than 40% of the deaths are caused by vehicle clashes and nearly 67% of the road traffic victims succumb to head injury;
  • Lane crossing and overtaking from the left has become a habit;
  • Using high beam has been seen as a leading cause of accidents especially in the metros;
  • Many four-wheeler users avoid seat belts and two-wheeler users helmets, though it has been made compulsory.

With almost 1.5 lakh people losing their lives in road related fatalities in 2010, the time has come to take some action to improve the situation.

AutoLife initiative undertaken by IndiaFirst Life Insurance Co. aims to encourage safe motoring culture among the road users, such as, no unnecessary honking, no overtaking from the left and no driving with high beam headlights in the city. It is an exclusive club of like-minded people who believe in safe and responsible driving.

As a responsible corporate citizen, FADA announced its support to this IndiaFirst s initiative at its 48th Annual Session held on October 5, 2012 in Patna in the presence of senior State Government ministers and officials and over 200 automobile dealers from across the country.

Going a step further, FADA and IndiaFirst have formally signed an MoU recently under which constituent members of FADA will provide road safety tips to their customers and public at large, thereby promoting gracious, safe and responsible road manners. They will also jointly educate the road users on the need for life insurance cover, which can be an immense help and succour to the distressed families in case of any unfortunate death in road accident or otherwise

Being in the business of insuring Life makes us all the more aware about how precious life is. With stress levels increasing by the day, the patience level amongst motorists has been decreasing at an alarming rate. AutoLife is not only about being enthusiastic about your automobiles but also about safe driving. It is about respecting your life and the lives of people around you, said Dr P Nandagopal, Managing Director & CEO, IndiaFirst Life Insurance.

Mohan Himatsingka, President, FADA, lauding the AutoLife initiative, reiterated the commitment of FADA and automobile dealer fraternity to promote the twin objective of Clean Environment & Safe Motoring for sustainable growth of automotive market in India. He announced FADAs unstinted support to the AutoLife initiative, saying that the initiative would go a long way in creating awareness and inculcating safe driving habits among the vehicle users. In addition to fulfilment of Corporate Social Responsibility, AutoLife is also a business opportunity for the automobile dealers, he added.

AutoLife is being launched in three phases. Phase I includes tie-ups with automobile dealers. So far over 100 automobile dealers across the country have come forward to partner with IndiaFirst to offer AutoLife to their customers.

Phase II will include tying up with the RTOs and developing an online community of AutoLife members. This community will help members meet, interact and organize/ promote safe driving initiatives and ideas in their respective areas. Phase III will include getting AutoLife members and the RTOs in particular areas to work on critical road safety issues facing the specific town/city. This will be an active project that will be initiated and executed by AutoLife members but supported and overseen by the RTOs.

This corporate social responsibility initiative by IndiaFirst and supported by FADA will be an ongoing programme. At present AutoLife already has 15,000 members and the number is increasing. Together with FADA and IndiaFirst Life, automobile dealers, as partners, can help their customers make wiser driving choices through AutoLife; thereby offering them an experience they ll always cherish.

What is interesting to note is that auto dealers can, not only tie up with IndiaFirst for AutoLife , but also look at offering simple, easy to understand life insurance products to their customers. IndiaFirst has covered over 1.6 million lives. It saw a growth of over 39% YoY by garnering Rs. 1,000 crore of business at the end of FY 2011-12. The company is present across 1,000 cities and towns through 5000+ partner bank branches

Headquartered in Mumbai, IndiaFirst, is one of the country's youngest life insurance company promoted by two of India's public sector banks - Bank of Baroda and Andhra Bank along with UK's leading risk, wealth and investment Company Legal & General.

IndiaFirst has many Firsts to its name such as achieving ISO 9001:2008 certification in 7 months of operations, launching the country s premier two swipe Health Claim Card and the most recent highly advanced & integrated MagicBoard sales process. No wonder it was adjudged the Company of Year - Life at the Indian Insurance Awards, 2012

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