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HDFC Life Recognized as Most Socially Responsible Insurer for Rebuilding Uttarakhand at ‘The Indian Insurance Awards 2014’

July 3, 2014 - Mumbai, Maharashtra, India

HDFC Life, India’s leading long-term life insurance solutions provider, has been honoured with the Most Socially Responsible Insurer Award for Rebuilding Uttarakhand at ‘The Indian Insurance Awards 2014’ organized by Fintelekt. The award ceremony was held in Mumbai on June 25th, 2014.

Mr. Rajendra Ghag, Senior Executive Vice President & Chief Human Resource Officer, HDFC Life said, “We are extremely pleased to be honoured with the Most Socially Responsible Insurer award. As a responsible corporate, we made an effort to make a difference to the lives of people affected by the devastating flood of Uttarakhand in June 2013. As part of our Rebuilding Uttarakhand project for long-term rehabilitation of affected population, we received an overwhelming response from our employees when we requested them to contribute their one day salary. A substantial amount was generated. The company matched the amount raised by the employees.”
In association with FICCI, in November 2013, HDFC Life signed a three year agreement with Habitat for Humanity, which works in partnership with local, grassroots NGOs, microfinance institutions and other partners throughout India to provide decent housing, to assist families to live in a safe living environment. Total budget allocated for HDFC Life’s Uttarakhand rebuilding project for the period (2013-16) is 2.25 crores. As of May 2014, temporary shelters have been handed over to more than 300 beneficiaries in Dharchula & Purola area of Uttarakhand.

HDFC Life also won two more awards for Best Product Innovation for HDFC Life Super Income plan and Best Technology Innovation for its employee social network, MYLife, at The Indian insurance Awards 2014.
The Indian insurance Awards have been conceptualised to honour performance, growth and excellence in the Indian insurance industry, and raise the benchmark year-on-year for industry participants. The winners were selected on the basis of data collected through nomination forms submitted by insurance companies. In addition to the data-based analysis, a panel of experts provided qualitative and subjective inputs to ensure that the awards are in tune with market reality. The jury, convened by Shirish Pathak, CEO, Fintelekt, comprised Mr. S B Mathur, Member (Part-time), IRDA & Former Secretary General, Life Insurance Council, Mr. R Chandrasekaran, Secretary General, General Insurance Council, and Mr. R Krishnamurthy, Senior Advisor, Towers Watson.

About HDFC Life

Established in 2000, HDFC Life is India’s leading long-term life insurance solutions provider offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, and Health. The company also offers Women’s Plans to meet specific needs of women. Customers have the added advantage of customizing plans, by adding optional benefits called riders, at a nominal price. The company currently has 23 retail and 8 group products in its portfolio, along with 9 riders.

HDFC Life continues to have the widest reach with about 500 branches in India touching customers in over 900 cities and towns. The company has also established a liaison office in Dubai. The company has a strong presence in its existing markets with a strong base of Financial Consultants. HDFC Life is a joint venture between Housing Development Finance Corporation Limited (HDFC), India’s leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom.

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Source: Business Wire India


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