Confed-ITA offers free insurance to members

Following in the footsteps of Tirupur IT Association (TITA), one of the associations under its belt, Confed-ITA has offered accidental insurance policies to all its members. The latter had recently introduced accidental insurance policy and cashless hospitalization by offering accidental policies worth Rs 2 lakh and cashless hospitalization up to Rs 50,000 free of cost. Going one step ahead of TITA, Confed has introduced the insurance policy for all 800 members of the 14 associations under Confed and paid the premium amount of Rs 140 on behalf of members, informed S Karthikeyan, President, Confed-ITA.

Unlike TITA, Confed's insurance scheme is only for members and wouldn't include their staff. “If we included the staff of our members then the support has to be extended to almost 8,000 people, which is a really complicated task. However, if members are willing to extend this support to their staff, we would arrange for a very attractive premium,” informed K Babu, executive committee member of Confed, who coordinated the scheme for the federation. He also mentioned that Confed couldn't extend this offer to business partners of Confed members, but claimed that members could avail the offer by paying a minimal amount. Confed's members can also extend their insurance amount according to their needs by paying extra premium.
While the death of Avudayappan earlier this year prompted TITA to introduce an accidental insurance policy for their members, the recent death of late Ponnarasu and Senthil a few weeks back in an association trip incited Confed to introduce free accidental insurance policy and cashless hospitalization for its members and 14 associations. “The recent death of two partners has brought insecurity among the partner community. As a welfare body for partners, we had to take some action to protect our people and the accidental insurance policy appeared to be the best option. When the plan was proposed Confed and its executive members didn't have any second thoughts about its approval,” claimed PN Prasad, VP, Confed-ITA.

A private insurance company has been roped in to provide the accidental insurance and cashless hospitalization after an evaluation between a government undertaken insurance company, informed Babu.