Bengaluru, September 13, 2022: HDFC ERGO General Insurance Company, India’s leading private sector general insurance company, announced the launch of the 7th edition of HDFC ERGO Insurance Awareness Award Junior – Quiz 2022. This initiative is an awareness platform aimed at driving insurance literacy amongst students to educate them on the importance of financial security at an early age.
Considering the importance of spreading insurance awareness among students, HDFC ERGO came up with the concept of the insurance quiz in 2016 to help students proactively learn about insurance at an early age and educate them on the need to secure their financial future. This year, the insurance quiz gets bigger with a reach of over 3 lakh students in 1,500+ schools from 110+ cities. 2,600 students from Classes VIII and IX are participating in this nationwide quiz, starting September 2, 2022.
Speaking about the quiz competition, Mr. Ritesh Kumar, MD & CEO, HDFC ERGO General Insurance said, “The insurance penetration for India is pegged at 4.2% in 2021, which is lower than the global average of 7.0%. One of the reasons for low insurance penetration is low awareness about insurance. We started the Insurance quiz with a view to improving insurance awareness. At a young age, students can be groomed and taught the importance of insurance to safeguard their future. We believe that this platform educates the future generation of our nation about insurance and thus contributes towards building a secure nation.”
This unique initiative has so far ignited more than 6 lakh young minds with the concept of insurance. In 2016, the quiz started in just one city of Mumbai, and has now spread its wings across more than 110 cities in the country. The quiz has been layered into three rounds – City, Zonal, and Finals. The City round winners qualify for the Zonal rounds, and the winners of the latter battle it out to secure a place in the Grand Finale. There are prizes worth Rs. 7.5 lakh to be won across the different levels of the quiz contest. The grand finale will be hosted on September 27, 2022, which also marks the 20th anniversary of the Company.