This was announced by Dr. P. Nandagopal, Managing Director & CEO, IndiaFirst Life Insurance. With the Rs 125 crore infusion, the total paid up capital of the company now stands at Rs 455 crore.

Dr. Nandagopal said, “With a capital base of Rs 455 crore, we are one of the most capital efficient life insurance companies in the industry today. We plan to be the most cost effective company by introducing simple and value for money plans backed by unparalleled service thereby delivering value to our customers and stakeholders.”

The capital has been infused according to the company's business plan for launching new products, expanding new distribution channels and continuing to develop the IndiaFirst brand in the market.

Dr. Nandagopal said the company aims at taking its products and services closer to its customers. “As part of our overall expansion plan, we have activated all 4500 bank branches (Bank of Baroda and Andhra Bank put together) to reach out to our customers across the country,” he further added.

IndiaFirst is the fastest to achieve Rs 100 crore in just 100 days of operations, Rs 200 crore in 4.5 months of operations, and over Rs 300 crore in under 9 months from inception, resulting in the highest ever start-up phase productivity in the industry. It was also the fastest life insurer to cross the 100000 policies mark in just 9 months of inception – achieving the fastest start up productivity.

IndiaFirst has initially focused on the bancassurance model, leveraging the existing customer base of over 50 million customers of the promoter banks. IndiaFirst plans to further strengthen its distribution reach by launching its alternate channel of distribution.