Ujjivan Financial
Services Ltd, bags award
Ujjivan Financial Services Ltd, a microfinance
institution, has won the Platinum Award for Inclusive Insurance at the SKOCH
Insurance Awards 2016.
The platinum award is the highest independent honour
given for inclusive insurance and was presented to Ujjivan for the company’s
exemplary work on financial inclusion initiatives, exceptional customer
service, insurance penetration and for covering the highest number of lives
through insurance.
The award was given to Ujjivan for conceptualising and
implementing a comprehensive end-to-end whole nine yards’ project to create
awareness and achieve an 100 per cent insurance penetration among the
economically active and financially weaker segments of its customer base, who
are normally deprived of insurance protection.
Vijay Balakrishnan, Chief Marketing Officer, Ujjivan
Financial Services Ltd said, “Ujjivan is honoured to receive this award.
Creating strategic product awareness and penetrating into
a segment hardly aware about insurance, its benefits or affordability, was not
an easy task.
This reinforces Ujjivan’s commitment to provide the full
range of financial services to the economically active financially weaker
segment of our society, as we progress in our transformation to become a small
finance bank.”
Ujjivan Financial
Services Ltd:
Ujjivan is an Indian microfinance
services company, established in 2005. Ujjivan disbursed Rs. 4,328 crore during
the financial year 2014-15. The company clocked its net profit at Rs 55.03
crore for FY 2013-14. Since its inception, it has 423 branches in 24 states
across India with a staff of over 6,500 employees.
Ujjivan is one of the founding
members of Microfinance Institutions Network (MFIN) and Association of
Karnataka Microfinance Institutions – organizations for propagating best
practices in microfinance industry.
