Jio Financial Services (JFS), the newly formed subsidiary of Reliance Industries, will soon foray into the insurance segment, Mr Mukesh Ambani, chairman of Reliance Industries, informed shareholders at the company’s 46th annual general meeting yesterday.
The company plans to enter the sector in partnership with global players. JFS will use predictive data analytics to create products, delivering to unique customer requirements.
“JFS will enter the insurance segment to offer simple, yet smart, Life, General, and Health insurance products through a seamless digital interface, potentially partnering with global players. It will use predictive data analytics to co-create contextual products with partners and cater to customer requirements in a truly unique way,” reported Fortune India, quoting Mr Ambani.
The development comes a month after Reliance Strategic Investments was split to form an individual entity, Jio Financial Services, on 25 July. The newly-formed subsidiary was formally listed in the bourses on 21 August.
