Prime Life Insurance

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Prime Life Insurance

After successfully establishing Everest Insurance Company and Laxmi Bank, Vriddhi Group of Companies extended its services to the life insurance market by founding Prime Life Insurance. It takes the standing of a co-founder, promoter and director at Prime Life Insurance.

Prime Life Insurance Company Limited was incorporated in June 2007 with the mission to provide a complete range of life insurance products bundled with innovation and superior services along with strong financial security to all its customers.  It also focuses on making PrimeLife appealing to the target consumers by raising the awareness level of the market through ‘Sunya wa Teen’ campaign, which provides the following benefits to the customers: Saving, Life Security and Tax Benefit.

The company started with a NPR 500 million paid up capital and a 70 % promoter shareholding. In the first year itself the company earned a profit of NPR 56.75 million. This was a first-time achievement for any company in the Nepal Insurance sector. Since then the company has been among the fastest growing life insurance companies in Nepal. It has successfully commenced 105 branches and sales offices and has proudly sold over 1,234,605 policies in these 5 years of operation.

In the modern context, insurance distribution is not only the old “Feet on Street” (FOS) agency model but has also become sophisticated and more effective with technology playing a greater role in enhancing services. The company has introduced an SMS system, through which all the policyholders receive notification for payment of policies. This system helps the policyholders to continuously receive life insurance