IT services provider 3i Infotech has formed partnerships with ICICI Lombard, Airtel and Max New York Life to provide value-added services to rural consumers in India through I-Serv stores.
Through this partnership, ICICI Lombard, Airtel and Max New York Life will help 3i Infotech provide a bouquet of retail services in the general insurance, telecom and life insurance sectors respectively.
3i Infotech is setting up 12,500 I-Serv stores across the Indian states of Haryana, Uttar Pradesh, Madhya Pradesh, Gujarat, Maharashtra, Goa, Andhra Pradesh, Tamil Nadu and Delhi. These stores will deliver services related to banking, insurance, mobile, education, ticketing and utilities.
ICICI Lombard is expected to provide its entire suite of general insurance products like motor, home, travel and health. Additionally, the company will also make available specific rural insurance products through these I-Serv stores.
Airtel is expected to use the I-Serv retail stores for marketing, promotion and distribution of various cellular services across this space. Max New York Life will offer Max Vijay, a product designed specifically for the underserved segment of the society to meet the challenges of unpredictability in life and income flow.
Anirudh Prabhakaran, executive director and president for South Asia at 3i Infotech, said: We have taken care to align with organizations having similar commitment to use technology as a tool to enrich lives and to empower rural India. The wide reach of our I-Serv stores, coupled with the experience and expertise that these organizations bring to this relationship, will benefit rural India.
