CHAPTER-3

A BIRDS VIEW EYE:

SELECTED GENERAL INSURANCE COMPANIES

3.1 AN OVERVIEW OF BAJAJ ALLIANZ GENERAL

INSURANCE COMPANY
3.2 AN OVERVIEW OF CHOLAMANDALAM MS
GENERAL INSURANCE COMPANY
3.3 AN OVERVIEW OF HDFC ERGO GENERAL
INSURANCE COMPANY
3.4 AN OVERVIEW OF NATIONAL GENERAL
INSURANCE COMPANY
3.5 AN OVERVIEW OF ORIENTAL GENERAL
INSURANCE COMPANY
3.6 AN OVERVIEW OF RELIANCE GENERAL
INSURANCE COMPANY
3.7 AN OVERVIEW OF ROYAL SUNDARAM GENERAL
INSURANCE COMPANY
3.8 AN OVERVIEW OF TATA AIG GENERAL
INSURANCE COMPANY
3.9 AN OVERVIEW OF THE NEW INDIA ASSURANCE
GENERAL INSURANCE COMPANY
3.10 AN OVERVIEW OF UNITED INDIA GENERAL
INSURANCE COMPANY
3.11 REFERENCES

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3.1 AN OVERVIEW OF BAJAJ ALLIANZ GENERAL
INSURANCE COMPANY
 COMPANY PROFILE
Bajaj Allianz General Insurance Company Limited is a joint
venture between Bajaj Finserv Limited (recently demerged from Bajaj
Auto Limited) and Allianz SE. Both enjoy a reputation of expertise,
stability and strength.
Bajaj Allianz General Insurance received the Insurance Regulatory
and Development Authority (IRDA) certificate of Registration on 2nd
May, 2001 to conduct General Insurance business (including Health
Insurance business) in India. The Company has an authorized and paid up
capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the
remaining 26% is held by Allianz, SE.
As on 31st March 2010, Bajaj Allianz General Insurance
maintained its premier position in the industry by achieving growth as well
as profitability. Bajaj Allianz has made a profit before tax of Rs. 180
crores and has become the only private insurer to cross the Rs.100 crore
mark in profit before tax in the last four years. The profit after tax was Rs.
121 crores, 27% higher than the previous year.
Bajaj Allianz today has a countrywide network connected through
the latest technology for quick communication and response in over 200
towns spread across the length and breadth of the country. From Surat to
Siliguri and Jammu to Thiruvananthapuram, all the offices are
interconnected with the Head Office at Pune.
Shareholders & Promoters
Bajaj Finserv Limited Bajaj Finserv Limited has been recently
demerged from Bajaj Auto Limited which is the largest manufacturer of
two and three-wheelers in India. As a promoter of Bajaj Allianz General
Insurance Company Ltd., Bajaj Finserv Ltd; has the following to offer:-
 Vast distribution network through its group companies.
 Knowledge of Indian consumers.
 Financial strength and stability to support the insurance business.
Visit Bajaj Allianz Life Insurance Website www.bajajallianz.com

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 Visit Bajaj Finserv Website:
http://www.bajajauto.com /BFL_V2/index.html Allianz SE, Germany Allianz
SE is in the business of General (Property & Casualty) Insurance; Life &
Health Insurance and Asset Management and has been in operation for over
110 years. Allianz is one of the largest global composite insurers with
operations in over 70 countries. Further, the Group provides Risk Management
and Loss Prevention Services. Allianz has insured most of the world's largest
infrastructure projects (including Hong Kong Airport and Channel Tunnel
between UK and France), further Allianz insures majority of the fortune 500
companies. Besides being a large industrial insurer, Allianz has a substantial
portfolio in the commercial and personal lines sector, using a wide variety of
innovative distribution channels.
Allianz SE has the following to offer Bajaj Allianz General Insurance
Company Ltd:-
 Set up and running of General insurance operations
 New and improved international products
 One of the world's leading insurance companies
 More than 700 subsidiaries and 2 lac employees in over 70 countries
worldwide
 Provides insurance to almost half the Fortune 500 companies
Technology
Other similar businesses The promoters have also incorporated a Life
insurance Company in India, called Bajaj Allianz Life Insurance Company
Limited to provide life insurance solutions.
Visit Bajaj Allianz Life Insurance Website www.bajajallianz.com

 IRDA REGISTRATION
IRDA Registration No.113 dated 2nd May, 2001
 LOGO OF BAJAJ ALLIANZ GENERAL INSURANCE
COMPANY

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  MISSION
As a responsible, customer focused market leader, we will strive to
understand the insurance needs of the consumers and translate it into
affordable products that deliver value for money.
A Partnership Based on Synergy Bajaj Allianz General Insurance
offers technical excellence in all areas of General and Health Insurance as
well as Risk Management. This partnership successfully combines Bajaj
Finserv's in-depth understanding of the local market and extensive
distribution network with the global experience and technical expertise of
the Allianz Group. As a registered Indian Insurance Company and a capital
base of Rs. 110 crores, the company is fully licensed to underwrite all lines
of general insurance business including health insurance.
 VISION
To be the first choice insurer for customers
To be the preferred employer for staff in the insurance industry
To be the number one insurer for creating shareholder value
 OUR ACHIEVEMENTS
Bajaj Allianz has received iAAA rating, from ICRA Limited, an
associate of Moody's Investors Service, for Claims Paying ability. This
rating indicates highest claims paying ability and a fundamentally
strong position.
Bajaj Allianz General Insurance has received the prestigious "Business
Leader in General Insurance", award by NDTV Profit Business
Leadership Awards 2008. The company was one of the top three
finalists for the year 2007 and 2008 in the General Insurance Company
of the Year award by Asia Insurance Review.
 BOARD OF DIRECTORS

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Rahul Bajaj, Chairman Ranjit Gupta, Director
Also Chairman, Bajaj Also President (Insurance),
Auto Ltd. Bajaj Finserv Ltd.
Bajaj Finserv Ltd.
Bajaj Holdings &
Investments Ltd.
Dipak Poddar, S. H. Khan, Director
Director Also Former Chairman,
Also Executive IDBI Ltd.
Chairman, V. Jeyaraman, Chief Financial
Poddar Developers Ltd. Officer
Niraj Bajaj, Director
Also Chairman & MD,
Mukund Ltd.

Manuel Bauer, Sanjay Asher, Director

Director Also Partner,
Also Member of the Crawford Bayley & Co.
Board of
Management, Growth
Markets,
Allianz SE
Manu Tandon, Dr. (Mrs.) Asha Joshi,
Director Appointed Actuary
Also Former MD, Onkar Kothari, Company
Elantas Beck India Ltd. Secretary & Compliance
Officer
Statutory Auditors, Dalal &
Shah and Kirtane & Pandit
Bankers- Axis Bank, Citibank,
Deutsche Bank, HDFC Bank,
Standard Chartered Bank

73
 Sanjiv Bajaj, Director David Fried, Director
Also MD, Bajaj Finserv (w.e.f 12th May 2012)
Ltd. Chief Executive Officer, Asia
Bajaj Holdings & Pacific Allianz SE Insurance
Investment Ltd. Management Asia Pacific

Tapan Singhel Suraj Mehta, Director

st(w.e.f. 1 April 2012) Also Former CEO,
Managing Director & Nabil Bank Ltd.
CEO
Bajaj Allianz General
Insurance Company Ltd

 ABOUT INSURANCE PLANS

1. MOTOR INSURANCE

You rely on your vehicle for complete freedom of movement. You

love taking long drives and commuting to office with the radio on.
Your vehicle is one of your most important possessions. Give it the
care and protection it deserves with Bajaj Allianz motor insurance.

Car insurance or two-wheeler insurance by Bajaj Allianz provides

unmatched care and protection for your motoring experience.

Whether it is cashless settlement in preferred workshops or 24x7

claims support, our insurance plan for your car and two-wheeler has
been designed with hassle-free claim settlement experience in mind.

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2. TRAVEL INUSRANCE

1. INDIVIDUAL TRAVEL INSURANCE

Travelling abroad to a foreign land alone entails a lot of risk.

Medical emergencies, losses, and delays can be expensive and cause
great inconvenience to you. Are you covered?

2. FAMILY TRAVEL INSURANCE

A hundred things can go wrong when you travel. Something

that’s an inconvenience at home can ruin your holiday when you’re
abroad. Is your family covered?

3. SENIOR CITIZEN TRAVEL INSURANCE

Taking a holiday abroad in your golden years is a dream for

many. But little inconveniences and medical problems can sully your
enjoyment unless you’ve got someone to take care of them for you.
Are you covered?

4. STUDENT TRAVEL INSURANCE

When you go to study abroad, you want a solid support system

to care of any troubles for you. Are you covered?

3. HOME INSURNACE

As a homeowner, you invest a lot of time, money and care into

making your home look beautiful for the festival. But don't stop there -
give your home the best possible protection from unforeseen incidents
with Bajaj Allianz Home Insurance plans.

At Bajaj Allianz, we understand that whatever be the market

value of your house, your home is invaluable. That's why we bring you

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 a comprehensive home insurance cover, which will protect not only
your home, but also the belongings inside it.

Fire can cause huge damages, which can affect your finances.

This section covers loss or damage to the premises (if specifically

declared and insured) and contents whilst contained in the premises due to
the following perils:

 Fire
 Lightning
 Explosion/ Implosion
 Aircraft Damage
 Riots, Strike and Malicious Damage
 Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and
Inundation
 Impact Damage
 Subsidence and Landslide including Rockslide
 Bursting and/ or overflowing of Water Tanks, Apparatus and Pipes
 Missile Testing Operations
 Leakage from Automatic Sprinkler Installations
 Bush Fire
 Earthquake (Fire and Shock)

The sum insured (value denoted for insurance) can be either on:

 REINSTATEMENT VALUE basis (Which is the value for replacing the

item with a new item of same type and make). At the time of loss the claim
will be settled without applying depreciation. In effect you will be getting
new for old of breakdown under this policy possibility of losing your
baggage during your travel.

OR

 MARKET VALUE basis (Which is the reinstatement value less depreciation

depending on the age of the item). At the time of loss, the claim will be
settled after applying depreciation.

NOTE:

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 The electronic equipments/TV etc. which you wish to cover under the
respective section need not to be insured under this section but can be
covered under Theft All Risks, electronic section

Exclusion:

 5% of the claim amount for every claim arising out of Act of God perils.
 Damage due to terrorist activities.

Terrorism Cover Extension can be opted by paying extra premium

Section 2 - Burglary and Theft

Section 3 - Jewellery and Precious Items

Section 4 - Breakdown of Domestic Appliances

Section 5 - Electronic Equipment

Section 6 - Baggage

Section 7 - Plate Glass

Section 8 - Pedal Cycles

Section 9 - Personal Accident Insurance

Section 10 - Personal Liability/Workmens Compensation

Group Discounts

The following discounts can be given in the premium if you opt for more sections

 5/6 sections - 15% on all sections except Section 1

 7 or more - 20% on all sections except Section 1

4. HEALTH INSURANCE

1. INDIVIDUAL HEALTH GUARD

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 Our Health Guard policy takes care of your hospitalization expenses & also
offers a wide coverage of pre & post hospitalization expenses.

2. FAMILY FLOTER HEALTH GUARD

A perfect Health protection plan for you and your family. Covers pre and
post hospitalization expenses and also ambulance charges in case of an
emergency.

3. SILVER HEALTH GUARD

Bajaj Allianz's Silver Health Plan for senior citizens protects you and your
spouse in case you need expensive medical care.

4. EXTRA CARE

A unique health insurance plan that allows you to extend your existing health
insurance cover.

 PAYMENTS OF PREMIUM
Payment of premium will be selected as per insurance plan. You can
pay premium by cash, by credit card/debit card or online also.
 AWARDS
General Insurance Company of the Year 2013
The Indian Insurance Awards 2013 was conducted by Fintelekt,
part of SP Media Pvt Ltd, a specialist in research, consulting and
conferences in the financial services industry.

78
Claims Service Company of the Year 2013
The Indian Insurance Awards 2013 was conducted by Fintelekt,
part of SP Media Pvt Ltd, a specialist in research, consulting and
conferences in the financial services industry.

Personal Lines Growth Leadership Award Year 2013

The Indian Insurance Awards 2013 was conducted by Fintelekt,
Part if SP Media Pvt Ltd, a specialist in research, consulting and
Conferences in the financial services industry.

General Insurance Provider of the Year

General Insurance Provider of the Year at the Money Today
FPCIL Awards 2012

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Best General Insurance Provider- Private Sector
Best General Insurance Provider- Private Sector at the CNBC
TV18 India Best Bank and Financial Institution Award FY 11 and
12.

Bloomberg UTV Financial Leadership Award 2012

General Insurer of the Year-Private Sector by Bloomberg UTV
Financial Leadership Awards 2012.

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Best Bank and Financial Institutions Award
Best Leading Player- Non Life by CNBC TV18 IBFA Best Bank
and Financial Institutions awards FY11.

Bloomberg UTV Financial Leadership Award 2011

General Insurer of the Year-Private Sector by Bloomberg UTV
Financial Leadership Awards 2011

Best Contribution on Investor Education & Category

Enhancement
Best Contribution on Investor Education and Category
Enhancement by Bloomberg UTV Financial Leadership Awards
2011.

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Best Travel Insurer awarded by CNBC 2011
Best Travel Insurer awarded by CNBC Awaaz Travel Award
2011

Best Travel Insurer awarded by CNBC 2010

Best Travel Insurer awarded by CNBC Awaaz Travel Award
2010

Business Leader in General Insurance

Business Leader in General Insurance at the NDTV Profit
Business Leadership Awards 2008

Customer Responsiveness Award by Avaya Global Connect, 2007

Customer Responsiveness Award by Avaya Global Connect, 2007

Best Insurer - General Insurance by India Insurance Review, 2011

Best Insurer- General Insurance by India Insurance Review, 2011

Top 3 finalists - General Insurance company of the year, 2008

Top 3 finalists - General Insurance company of the year, 2008

Top 3 finalists - General Insurance company of the year, 2007

Top 3 finalists - General Insurance company of the year, 2007

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 Claims Department has received the ISO 9001:2008 certification
Bajaj Allianz General Insurance Claims Department has received
the ISO 9001:2008 certification

IT Department has received the ISO 27001:2005 certification by

DNV
Bajaj Allianz General Insurance IT Department has received the
ISO 27001:2005 by DNV

 CONTACT US
HEAD OFFICE
BAJAJ ALLIANZ GENERAL INSURANCE COMPANY

GE PLAZA, AIRPORT ROAD, YERAWADA, PUNE-411 006

Customer care
Any Landline/Mobile- 1800- 209- 5858

MTNL/ BSNL- 1800- 22- 5858

BHARTI- 1800- 102- 5858

OTHER- 020-30305858

E-mail: [email protected]

TOLL FREE NUMBER

For online policy issuance/ renewal

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Tel. : 1800-233-3355
Email:[email protected]

CALL NOW

Standard STD Rates Apply:

Tel. : (+91 020) 66026666

Fax: (+91 020) 66026667

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3.2 AN OVERVIEW OF CHOLAMANDALAM MS
GENERAL INSURANCE COMPANY
 COMPANY PROFILE

Our business begins with you. You are the force that propels us ahead.
And we believe that you are not just a part of our business, but the reason
for our existence.

We go beyond being just an insurance company. We see ourselves as

partners who deliver peace of mind by protecting the world you live in.
We strive to strengthen the Trust you have on us by offering complete
Transparency through simple products that have no hidden clauses and
are easy to understand. And we also provide seamless service that's
enabled by Technology. Welcome to the world of Chola MS.
Headquartered in Chennai, we are a 10-year young entity with a team of
2,500 like-minded people. The company has positioned itself on the
customer centric platform. In agreement with our vision to be the most
preferred general insurance company in India, we have built our brand
philosophy around the core values of Trust, Transparency and Technology
(T3). Our commitment towards you is evident in our innovative and simple
products, high operational efficiency, and empathetic & quick claims
settlement. Over the years, we have grown in size and stature.

In 2011-2012, we recorded a Gross Written Premium of

RS.1,346.5 crores. Having posted a remarkable growth of 39%, we have
been one of the fastest growing general insurance companies in the
insurance industry with a network of over 90 branches across the country
and 7,000 agents. The Agency distribution channel is complemented by
various strategic and long-term partnerships with Banks, Auto OEM's and
Auto Finance Companies among others. At Chola MS, we respect your
choice and offer you a variety of products to suit your needs. For the
individuals, we offer products like Motor Insurance, Health Insurance,
Travel Insurance, Personal Accident & Home Insurance. For the SME's
and Corporate Clients, we provide customized solutions encompassing

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 insurance as well as Risk Consulting Services in Engineering, Liability,
Marine, Property and Miscellaneous. Besides, our Risk Consulting arm
Chola MS Risk Services provides Risk Identification, Assessment and
Control through Risk Management & Engineering Solutions in the field of
Safety, Health, Environment and Insurance Support. Now our Risk
Management helps in identifying and quantifying the risks, initiating
appropriate risk mitigation measures. And our insurance acts as a risk
transfer and risk mitigation tool. Altogether, with Chola MS you get the
edge with Total Risk Solutions.

We work hand-in-hand with our clients to handle any future

uncertainties and enhance business performance through effective risk
management techniques. Established in 1994, Chola MS Risk Services
offers comprehensive Risk Management & Engineering solutions in the
fields of Safety, Health, Environment and Insurance Support.

Chola MS Risk Services is a joint venture between the Murugappa

Group, India and Mitsui Sumitomo Insurance Group, Japan. We also have
a technical collaboration with Asia's largest risk management company -
InterRisk, a group company of Mitsui Sumitomo Insurance Group. For the
last 16 years, we have pioneered numerous innovative and specialized
services catering to the needs of Asian & European markets. That apart,
we have also emerged as the market leader in Asia. We successfully
executed more than 2,000 projects (Domestic & International), which not
only helped organizations maintain compliance but also optimize their
SHE performance and set new benchmarks. An ISO 9001:2008 certified
company; Chola MS Risk Services was also declared "Risk Manager of
the Year" in the 11th Asian Insurance Industry Awards.

 IRDA REGISTRATION
IRDA Registration No.123 and dated 15.07.2002.
 LOGO OF CHOLAMANDALAM MS GENERAL
INSURANCE COMPANY

86
 OBJECTIVE
Right Promise, Right Delivery
As a customer centric organization, our company stands firm on our
brand philosophy: Trust, Transparency and Technology.
Trust
We believe that trust is the one common thread that binds us, our
agents and you. And we give our best to uphold your trust in every step.
Firstly, we have earned the reputation of being good listeners. We lend our
ears to all your needs and based on that, we suggest the right product for
you. Secondly, we ensure our relationship isn't just about explaining the
product or issuing a policy to settle the claim. In other words, we maintain
a relationship of trust beyond the policy period, and that is for life.
Transparency
We maintain utmost transparency to give you the complete picture of
our products. By using simple words instead of jargons and by explaining
every feature in detail; we make sure you understand the process from end-
to-end. That apart, clear documentation and mentioning of exclusions
leaves very less chance for any confusion. In simple words, you get what
you see.
Technology
Through technology enabled channels like website and 24x7 call
center services, reaching us is now effortless and time saving. We've
invested in the right technology to make processes simple and deliver a
great customer experience. Backed by an enterprise-wide IT infrastructure,
it makes business with us easy.

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 MISSION

To bring peace of mind to our clients by protecting them from financial

risks.

 VISION

To be the most respected company amongst General Insurers in India for

our value creation to customers and shareholders.

 GOAL

Grow GWP to RS2,000 crores and Operating PBT to RS150 crores by

2012-2014.

 BOARD OF DIRECTORS

Mr. S B Mathur
Chairman

 Is a Chartered Accountant, Part 1 & 2 of ICWA (London)

 Has over 40 years of experience in the insurance industry
 Has served as the Secretary General of Life Insurance Council
 Has served as an Administrator in Specified Undertaking of the Unit
Trust of India (SUUTI)
 Has served as a Chairman of LIC
 Is a board member of various companies including ITC Limited,
IL&FS Limited, Ultratech Cement Limited, Axis Bank Limited, NSE,
Havells India Limited, India Mortgage Guarantee Corporation Private
Limited etc.

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 Mr.RBeri Director

 Holds a honours degree in Arts- History and is a MBA from Birla

Institute of Technology & Science, Pilani
 Has over 35 years of experience in general insurance
 Served as Insurance Ombudsman for Delhi and Rajasthan
 Was Chairman cum Managing Director of The New India Assurance
Company Limited
 Had been the Chairman of National Insurance Academy, Insurance
institute of India etc.
 Has held Directorships in GIC, GIC Housing Finance, TAC, etc.

Mr. Pradeep Vasudeo Bhide Director

 Mr. Pradeep V Bhide was a member of the Indian Administrative

Service belonging to the Andhra Pradesh Cadre and of 1973 batch
 Holds a Bachelors degree in Science and Law and holds a Masters
degree in Business Administration with specialization in Financial
Management
 Was the Secretary, Department of Disinvestment, Ministry of Finance,
Government of India and has also served as Additional/Special
Secretary in the Ministry of Home Affairs, Govt of India
 Was deputed by Government of India to the World Bank, Washington
DC as Technical adviser to India's Executive Director
 Was the Chairman cum Managing Director in APCO and Godavari
Fertilisers & Chemicals Ltd
 Is a Board Member of various companies viz., Tube Investments of
India Ltd, L&T Finance Ltd, Ballarpur Industries Ltd,

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 GlaxoSmithkline Pharmaceuticals Ltd, Heidelberg Cement India Ltd,
NOCIL Ltd, A.P.I.D.C Venture Capital Private Ltd etc.

Mr.NSrinivasan Director

 Is a Chartered Accountant and Company Secretary

 Is the Group Director – Finance, of the Murugappa Group
 Has over 28 years experience in the areas of Corporate Finance, Legal,
Projects and General Management.
 Is a Board member of Tube Investments of India Limited, Murugappa
Holdings Limited and is the Vice Chairman of Cholamandalam
Investment and Finance Co. Limited.

Mr. Katsuhiko Kaneyoshi Director

 Graduated in Law from Senshu University, Japan

 Working in Mitsui Sumitomo Insurance Co. Limited, Japan since 1976
 Has over 35 years of experience in general insurance

90
 Mr. S S Gopalarathnam Managing Director

 Holds a Bachelors degree in Commerce and is a fellow member of the

Institute of Cost & Works Accountants of India and has done an
advanced management program in Harvard University
 Has been associated with the Murugappa Group since 1979 in various
capacities
 Spent 21 years in Tube Investments of India Limited in various roles
like Finance, Exports and Business operations
 Was Head of Corporate & strategic planning at the Murugappa Group
for 1 1/2 years years

Mr. Tsuyoshi Yamane Whole time Director

 Is a Bachelor of Commerce from Keio University, Japan

 Working in Mitsui Sumitomo Insurance Co. Limited, Japan since 1983
and has over 27 years of experience in general insurance

Management Team

The energetic and vibrant family of 700 Chola MS employees across

the country are responsible for the smooth and successful running of the
organization.

This dynamic team is spearheaded by Mr. S. S. Gopalarathnam,

Managing Director and his distinguished team.

Tsuyoshi Yamane - Whole time Director

Vedanarayanan Seshadri - Chief Marketing Officer

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 V. Suryanarayanan - Senior Vice President (Finance)

Sundar. V - Senior Vice President (IT & Operations)

R. Suresh Senior Vice President - (Claims)

Jeganathan A - Senior Vice President (Underwriting & Reinsurance)

A. Prabhakaran - Vice President (Operations)

Sanjiv Kumar Mathur - Vice President (Sales & Distribution)

Together, we strive - in search of newer heights and greater

accomplishments.

 ABOUT INSURANCE PLANS

Individual

Health Insurance

 Individual Healthline
 Family Healthline

Car Insurance

 Private Car
 Chola Protect

Travel Insurance

 Business / Leisure Travel

 Student Travel

Home Insurance

 Home Protect

Personal Accident

 Chola Accident Protection Plan

Corporate

 Health Insurance
 Fire Insurance
 Engineering Projects
 Engineering Operations
 Property Crime Insurance

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  Marine Insurance
 Liability Insurance

Protect your agriculture business in the best manner possible by opting

for Rural Insurance from Chola MS.

India's heart beats in the rural segment where over 70% of our
population lives and toils to enrich our country. We at Chola MS look at rural
insurance as more than a mere social responsibility, and have worked to offer
protection covers custom-designed to suit the needs of rural India.

Some of our products for the rural segment are hereunder.

 Health Insurance - We offer affordable and customized family floater

health insurance cover to rural population of the country through various
channels like MFIs, NGOs and also organizations involved in Financial
Inclusions
 We are also actively involved in Rashtriya Swasthya Bima Yojana
(RSBY) scheme, Central-State Govt's joint social healthcare scheme for
providing Health Insurance for BPL families across the country, wherein
more than 32 Lakh families which are below poverty line (BPL) across
various states like Gujarat, Maharashtra, Jharkhand, Bihar and West
Bengal have been covered and benefited.
 Personal Accident Insurance - Personal Accident Insurance covering
Death, Permanent and Partial Total Disability along with hospitalization
cash benefits to cover the rural populace
 Critical illness Insurance - To cater to the treatment cost/financial
sustainability in case of listed critical illness is contracted
 Tractor / Commercial Vehicle / Motor / Farm Inputs Insurance - A
product specifically designed for catering to rural requirement
 Micro Insurance - We work with various Micro Finance organizations
working in the hinterland collaborating with SHGs (Self Help Groups)
who provide insurance advisory services to the rural customers at their
doorstep
 Combined / Composite Product Insurance - A package policy offering a
one stop solution for various protections needs of rural families which
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 includes Health Insurance, Accidental Insurance, Dwelling Insurance etc.
is offered under a single policy
 Weather / Input Based Crop against Act Of God perils - We are
empanelled by the Government of India for WBCIS Scheme for Non
Loanee farmers being implemented in various states
 Cattle Insurance - An insurance policy to provide insurance to cattle-
breeding community of rural India to cover their milch-Cows / Buffaloes,
Calves / Heifers, Stud Bulls & Bullocks etc; thus providing their prime
livelihood source a financial protection in case of death or disability
caused to cattle due to accident or disease.

We work with the following institutions to offer rural insurance products.

 Ministry of Labour, Govt of India

 Confederation of National Rural NGO's of India
 CIL's Manogromor Centers in A.P, Maharashtra, T.N.
 EID Parry to provide insurance to growers and workers
 Cholamandalam Investment & Finance Company Limited
 IndusInd Bank Limited - Vehicle Finance Division
 Mahindra Insurance Brokers Limited
 Dharmapuri District Central Co-operative Bank
 Salem District Central Co-operative Bank
 Rural Co-operative Banks
 Department of Agriculture, Govt. of Tamil Nadu
 Department of Agriculture, Govt. of Karnataka
 Department of Health & Family Welfare, Govt. of Gujarat
 Department of Labour, Employment & Training, Govt. of Jharkhand
 Department of Labour Resources, Govt. of Bihar
 Department of Labour , Govt. of Maharashtra
 Department of Labour, Govt. of West Bengal
 Central Bank of India

Chola Aarogya Bima Policy

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 Introducing Chola Aarogya Bima Health Insurance Plan, an
affordable Health insurance policy, which is exclusively meant for
customers of Central Bank of India. It offers protection for the Insured's
family (Self, spouse and up to 3 dependent children) against unfortunate
hospital expenses with a family floater Sum insured.

 AWARDS

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 CONTACT US
Registered Address
Cholamandalam MS,
General Insurance
Company Ltd,
2nd Floor, "Dare House",
No.2, NSC Bose Road,
Chennai - 600001, India.
Phone: 044-3044 5400
Fax no: 044-3044 5550

Customers from abroad can call at: +91 44 3098 5300.

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3.3 AN OVERVIEW OF HDFC ERGO GENERAL
INSURANCE COMPANY
 COMPANY PROFILE

HDFC ERGO General Insurance Company Limited is a 74:26 joint

venture between HDFC Limited, India’s premier Housing Finance
Institution and ERGO International AG, the primary insurance entity of
Munich Re Group. HDFC ERGO offers complete range of general
insurance products ranging from Motor, Health, Travel, Home and
Personal Accident in the retail space and customized products like
Property, Marine and Liability Insurance in the corporate space.

HDFC ERGO focuses on providing the “Right Insurance

Solutions” for all. We offer our customers complete range of general
insurance products ranging from Motor, Health, Travel, Home and
Personal Accident in the retail space and customized products like
Property, Marine and Liability Insurance in the corporate space.

It is our constant endeavor to improvise and cater to every need of

the modern day customer with superior customer support service. This
helps us give our customers a seamless and hassle-free experience.

HDFC ERGO is the 4th largest private sector general insurance

company in India. HDFC ERGO has been expanding its presence across
the country and is today present across 71 cities with 81 branch offices
with an employee base more than 1400 professionals. The company has a
wide distribution network comprising of brokers, retail and corporate
agents, bancassurance besides its own direct sales force. HDFC ERGO has
been assigned the rating of ‘iAAA’ by ICRA indicating its highest claim
paying ability. The company also has ISO certification for its claim
services, policy issuance & customer servicing.

 IRDA REGISTRATION
IRDA Registration No. 125 dated 27.08.2002.

97
 LOGO OF HDFC ERGO GENERAL INSURANCE
COMPANY

 MISSION
Sensitivity
We will build our business on empathy and an inherent understanding of
both our internal and external customers’ needs.
Excellence
We will always strive to offer innovative products and services and endeavour to
set new benchmarks to do things better each time.
Ethics
We will honour our commitments and be transparent in our dealings with
all our stakeholders.
Dynamism
We will be pro-active with a "can do" approach.

To make our vision a reality, we are committed to sow the SEED of our
values and nurture it daily. Our ethical approach and high levels of
integrity enable us to 'continue the tradition of trust' we have inherited
from our parent company HDFC Ltd.

We ensure that it reflects in every task we perform, every decision we

take. It helps us to work as a team towards creating and sustaining value
for all our stakeholders, namely Customers, Business Partners, Re-
insurers, Share-holders and most importantly, Employees

98
 VALUE
One single thing that takes us closer to our vision is our set of values -
(SEED) Sensitivity, Excellence, Ethics and Dynamism.
 VISION

 BOARD OF DIRECTORS

Chairman

Mr. Deepak S. Parekh

Mr. Deepak S. Parekh is the Chairman of the Company. He is a

fellow of the Institute of Chartered Accountants (England & Wales).
Mr. Parekh is also the Chairman of Housing Development Finance
Corporation Limited (HDFC), India’s premier Housing Finance
Company. He joined HDFC in a senior management position in 1978.
He was inducted as a full-time Director of HDFC in 1985 and was
appointed as its Managing Director (designated as 'Chairman') in 1993
and continued to be appointed as such from to time.

He retired as the Managing Director of HDFC with effect from

the close of business hours on December 31, 2009.

99
 Mr. Ritesh Kumar

 Mr. Keki M Mistry

 Ms. Renu Sub Karnad

 Mr. Andreas Kleiner

 Dr. Jagdish Khattar

100
 Mr. Bernhard Steinruecke

 Mr. Mark Lammerskitten

(w.e.f July 1, 2010)

 ABOUT INSURANCE PLANS

1. HOME INSURANCE
2. HEALTH INSURANCE
3. MOTOR INSURANCE
4. TRAVEL INSURANCE
5. PERSONNAL ACCIDENT
6. COMMERCIAL INSURANCE
7. RURAL INSURANCE

 PAYMENTS OF PREMIUM
101
 Payment of premium will be selected as per insurance plan. You can
pay premium by cash, by credit card/debit card or online also.
 AWARDS

iAAA rating by ICRA

The Company has been rated iAAA by ICRA (an associate of Mooby’s
Investors Service) indicating highest claim paying ability. This rating
denotes company’s fundamentally strong position and prospect of
meeting policyholder obligations as the best. The rating takes into
account the company’s strong parentage, its leadership position
amongst the private sector general insurers in the country, balanced
and diversified portfolio, prudent underwriting practice and
reinsurance strategy.

ISO Certification
HDFC ERGO has been awarded the ISO 9001:2008 certification for
their processes relating to the below functions:
1) Operations & Services
2) Customer Experience Management
3) Claims Management

This certification validates HDFC ERGO’s conformity with

internationally established standards for quality systems and assurance

102
in Operations, Claim processing and Customer Service. The
certification is a validation of the controls that have been built in place
to ensure that the needs and expectations of customers are met. This
certification ensures that the Company's products and services are the
most compliant with the existing market standards and requirements.

The ISO certification for the above defined functions have been
provided for the below defined scope:

a) Customer Experience Management – Services related to

Resolution of Customer Queries and Complaints through Call Centre
and Related Processes

Processes covered under the CEM certification include:

1) Inbound call center & Email management

2) Quality & Training
3) Grievance Management

b) Claims – Providing Services Pertaining to Claims Lodged by our

Customers for our General Insurance Products through In House
Health Claims Services, Network of Surveyors, Third Party
Administrators and other Agencies

Processes covered under the Claims certification include:

1) Motor OD & TP Claims management

2) Management of claims for Retail, Corporate, Travel, Fire Marine &
Engineering
3) Health Claims Services

c) Operations & Services –

Policy Issuance and Servicing of our General Insurance Products for

Retail and Corporate clients and Facilities Management including
Procurement and Administration

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Processes covered under the O&S certification include: 1) All central
O&S operations, including policy & endorsement issuance for Retail,
Corporate, Banc assurance, Rural Line Operations

2) Logistics Control Unit

3) Branch Operations function including inwarding, premium cheque

management, walk-in customer management, cover note management,
policy / endorsement issuance

4) Banking Operations

5) Admin & Procurement including facilities management and branch

administration

The locations covered under the certification included the below:

1) Corporate Office, Mumbai

2) Local branches

a) Lower Parel, Mumbai

b) Borivali, Mumbai
c) Chennai, Mylapore
d) Chennai, Tynampet
e) Bangalore
f) Connaught Place, New Delhi
g) Nehru Place, New Delhi

The ISO certification has been provided considering the internal

processes of the organization are in line with the standards required to
provide customer satisfaction. It is also an acknowledgement of the
standardization and uniformity of processes being followed across all
branches & locations.

104
ICAI Awards for Excellence in Financial Reporting

HDFC ERGO has been awarded with ICAI Awards for Excellence in
Financial Reporting by Institute of Chartered Accountants of India
(ICAI) under the Category IV – Insurance Sector. The award has been
given on the basis of degree of compliance with the accounting
standards, statutory guidelines and other relevant pronouncements. The
panel of judges had reviewed the accounting practices adopted by the
participating enterprises in the preparation of financial statements and
the policies adopted for disclosure and presentation of financial
statements and other information in the annual reports without regard
to their financial condition and operating performance.

Best Investor Education & Category Enhancement – Insurance by

UTV Bloomberg - Financial Leadership Awards 2012

HDFC ERGO is declared as a winner under "Best Investor Education

& Category Enhancement – Insurance" category by UTV Bloomberg -
Financial Leadership Awards 2012.

The short listing for award in this category was decided based on new
innovative products offered to the policyholders, initiatives taken on
educating the existing and prospective policyholder, ease of navigation

105
on the website, efficient claim support, complaint resolution rate and
the number of complaints received in relation to the market share of
the company. The final call on the winner has been taken by the
external Jury. It is a single award across life and general insurance
companies.

Best Employer Brand Award by IPE BFSI

This award is presented to those who have surpassed levels of

excellence and set an example of being a Role Model & Exemplary
Leader in Human Resources. The objective at core is benchmarking
talent & HR practices.

HR Excellence through technology award

at Asia's Best Employer Brand Awards 2012

These awards are hosted by Employer Branding Institute, World HRD

Congress & stars of the Industry Group. CMO Asia has been a
strategic partner & the awards are endorsed by Asian Confederation of
Businesses. These awards are presented to Individuals and

106
 Organizations who have surpasses levels of excellence and set an
example of being a Role Model & Exemplary Leader. The objective at
core is benchmarking talent & HR practices.

BEST GENERAL INSURANCE COMPANY in INDIA by

International Alternative Investment Review (IAIR)

The event was organized by The Excellence in Global Economy (3rd

Edition), Hongkong on 22nd Feb'13. This award was based on an
independent survey and was analyzed considering the Leadership,
Innovative Services & ability to be responsive to the customers' needs
with a dynamic approach & a variety of products.

 CONTACT US

Toll Free :1800 2001 999

Phone (UAN) :1860 2000 700 ( Local charges applicable )

Fax (UAN) : 1860 2000 600 ( Local charges applicable )

Email :[email protected]

Address :HDFC ERGO General Insurance Co. Ltd.

6th Floor, MBC Tower, Old no.90, New No. 199, Luz Church Road,
Mylapore, Chennai - 600 004

FHPL Cardholders

Toll Free :1800 425 4075

Fax (UAN) : +91 44 3013 6747

107
Email : [email protected]

Address :Family Health Plan (TPA) Ltd.

Srinilaya-Cyber Spazio
Suite # 101,102,109 & 110, Ground Floor,
Road No.2, Banjara Hills, Hyderabad - 500 034

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3.4 AN OVERVIEW OF NATIONAL GENERAL INSURANCE
COMPANY
 COMPANY PROFILE
NIC is the oldest Insurance Company in India. Since incorporation in
the year 1906, NIC has been carrying on general insurance business under
private management until 1972, when its services were dedicated to the
nation by the General Insurance Nationalization Act. NIC started
functioning as a subsidiary of the General Corporation of India (GIC)
taking in its fold 22 foreign and 11 Indian Insurance Companies which
were amalgamated with it.

NATIONAL INSURANCE COMPANY LTD 1906 till 2013 …….

National Insurance Company (NIC) was incorporated on 6th

December 1906 at the height of the country’s nationalist Swadeshi
movement as an expression of the Indian aspiration to establish a strong
indigenous Company even in the midst of foreign rule. Today, 107 years
after its incorporation, NIC stands tall as the oldest insurance company in
India and the only PSU non life insurance Company headquartered in the
Eastern part of the country.

NIC has Strength of more than 15,000 skilled Human assets and
1340 offices including 373 Business Centers pan India. These Business
Centers have been successful in reaching general insurance to hitherto
unrepresented areas and segments across the country and stands as a model
platform for penetration of the Insurance market. The Company also has
operations in Nepal.

As the Market Leader in two zones(North & East India) NIC has
been recognized as “BEST IN SERVICE” in the MOTOR and HEALTH
classes of Business which constitute 63% of the Indian Non Life Insurance
Market.

 IRDA REGISTRATION

109
 IRDA Registration No. 125 dated 27.08.2002.

 LOGO OF NATIONAL GENERAL INSURANCE

COMPANY

 VISION

Leveraging technology to integrate people and processes

To excel in service and performance

To uphold the highest ethical standards in conducting our business

 MISSION
To be the most preferred choice of customers for General Insurance by
building relationships and grow profitably

 BOARD OF DIRECTORS

Shri N S R Chandraprasad

Chairman-cum-Managing Director

110
 Shri Kuldip Singh

General Manager & Executive Director

Shri A. V. Girija Kumar

General Manager & Executive Director

Shri Anurag Jain

Joint Secretary (IF), Ministry of Finance, Govt. of India

Shri Moti Lal Sharma

Part-time Non-official Director

111
 Shri Amitav Kothari

Part-time Non-official Director

Shri Arun Kaul

CMD, UCO Bank

 ABOUT INSURANCE PLANS

1. Householders Insurance

It is a packaged policy which provides a range of covers that

are required for a common householder. Property valuation is done by
multiplying the built up area of the property with the cost of
construction per square feet.
Insured has to get his household contents as per their market value and
Electrical Items on replacement value. Even if you have rented your
property you can cover the contents of the house against fire & allied
perils, Burglary and/or housebreaking, hold-up, mechanical and
electrical breakdown of appliance etc. Moreover if you are also
looking to cover the structure of your building (home), we can provide
you an additional policy of Standard Fire and Special Perils policy
covering your building structure. This policy will additionally cover
your building structure against loss due to fire and allied perils.

2. Individual personal Accident

Personal Accident Insurance policy provides your beneficiary with a

death benefit in the unfortunate event of your accidental death and It
also provides you with cover against Permanent Total Disablement
(PTD) on account of an accident

112
3. Janata Personal Accident

JPA policy covers any person irrespective of sex, occupation and

profession in the age group of 10 to 70 years for death and permanent
total disablement and permanent partial disablement.

The policy is available for minimum sum insured of Rs.25.000/- per

person per annum and the maximum sum insured is to be limited to
Rs.1,00,000/- per person per annum.

The rate of premium is Rs.15 for a sum insured of Rs.25,000/-. The

sum insured shall be increased in multiples of Rs.25,000 and premium
is charged accordingly.

The policy is also available for pre-identified groups as listed by the

scheme. In case of a group policy group discounts are available as per
size of the group.

The policy is also available for a long term period up to 5 years

4. Gramin Suswasthya Microinsurance Policy

The policy is a micro-insurance product provides cover to lower

income class of the society covering Hospitalization expenses of the
entire family and Personal Accident cover to the insured and his/her
spouse. This policy is having two sections: Section I covers
hospitalization expenses on family floater basis and Section II covers
Personal Accident and Outdoor Patient(OPD)expenses to the insured
and spouse due to accident only.Any adult residing in India can take
the policy covering himself / herself between the age of 3 months to 60
years

5. Gramin Suraksha Bima Policy

The policy is a micro-insurance product provides cover for bodily

injury resulting solely and directly from accident caused by outward
violent and visible means to the lower income group of the society.
This policy has three sections. Section –I covers building and contents,
Section –II covers hospitalization expenses of the family. Section –III
provides Personal Accident cover to the insured and his/her spouse

6. Standard Fire and Special Perils

The Standard Fire and Special Perils Policy covers all properties on
land (excluding cost of land), moveable or immoveable, at various
locations against named perils. The Special Types of Policies are
designed for Stocks (declaration and floater), Building, Plant &

113
 Machinery keeping in mind the nature of property, proposers'
requirements and basis of indemnification. The Long Term Policies
available for Dwellings with suitable discounts in premium. The Policy
can be extended to cover certain additional perils and expenses at
additional premium. Certain perils can be deleted with discount in
premium rates.

7. Shopkeepers Insurance

The Shopkeeper’s Insurance is a combination of eleven sections

covering risks faced by shopkeepers/traders. The policy covers
building, contents, money, pedal cycle, plate glass, signs, baggage,
personal accident, fidelity guarantee, liability and business
interruption. While Section IB and II are compulsory, the client should
opt for two more from the other sections The shop Owners of Retail
chain, Shopping Arcades & Complex, Shops/Showrooms, Dealers
where the Sum Insured of the building and contents together does not
exceed Rs. 2 crores may buy the policy

8. Overseas Mediclaim Business and Holiday

Overseas Mediclaim Policy is a package policy which covers travel

emergencies when someone is travelling abroad. It is available for
three categories of travellers-

1) Business & Holiday

2) Employment and Study
3) Corporate Frequent Traveller

9. Parivar Mediclaim

The Parivar Mediclaim policies are available for the entire family
consisting of spouse, dependent two children and dependent parent up
to 80 years of age and up to Rs 10 lac Sum Insured. Online policies
are available up to 5 lacs.

10. Individual Mediclaim

The Individual Mediclaim policies are available up to 50 years of age

and up to Rs 10 lac Sum Insured. Online policies are available up to 5
lacs.

11. Motor Cycle

Motor Insurance Contracts are subject to the basic principles

applicable to property and liability insurance in general. The owner of
the vehicle must be a registered owner to the vehicle whereby he or
she stands to benefit by the safety of the vehicle, right, interest or

114
 freedom from liability and stands to lose by any loss , damage , injury
or creation of liability.

12. Private Car

Motor Insurance Contracts are subject to the basic principles

applicable to property and liability insurance in general. The owner of
the vehicle must be a registered owner to the vehicle whereby he or
she stands to benefit by the safety of the vehicle, right, interest or
freedom from liability and stands to lose by any loss , damage , injury
or creation of liability

 PAYMENTS OF PREMIUM
Payment of premium will be selected as per insurance plan. You can
pay premium by cash, by credit card/debit card or online also.

 AWARDS
NIC wins, The Best Insurance Company Award 2013.

 CONTACT US
Address: 3, Middleton Street, Prafulla Chandra Sen Sarani Kolkata,
West Bengal, 700071.
Telephone: 22831705 / 22831706, Fax: 22831712.

115
3.5 AN OVERVIEW OF ORIENTAL GENERAL
INSURANCE COMPANY
 COMPANY PROFILE
The Oriental Insurance Company Ltd was incorporated at
Bombay on 12th September 1947. The Company was a wholly owned
subsidiary of the Oriental Government Security Life Assurance Company
Ltd and was formed to carry out General Insurance business. The
Company was a subsidiary of Life Insurance Corporation of India from
1956 to 1973 ( till the General Insurance Business was nationalized in the
country). In 2003 all shares of our company held by the General Insurance
Corporation of India has been transferred to Central Government.

The Company is a pioneer in laying down systems for smooth and

orderly conduct of the business. The strength of the company lies in its
highly trained and motivated work force that covers various disciplines
and has vast expertise. Oriental specializes in devising special covers for
large projects like power plants, petrochemical, steel and chemical plants.
The company has developed various types of insurance covers to cater to
the needs of both the urban and rural population of India. The Company
has a highly technically qualified and competent team of professionals to
render the best customer service.

Oriental Insurance made a modest beginning with a first year

premium of Rs.99,946 in 1950. The goal of the Company was “Service to
clients” and achievement thereof was helped by the strong traditions built
up overtime.

ORIENTAL with its head Office at New Delhi has 30 Regional

Offices and nearly 900+ operating Offices in various cities of the country.
The Company has overseas operations in Nepal, Kuwait and Dubai. The
Company has a total strength of around 15,000+ employees. From less
than a lakh at inception, the Gross Premium went up to Rs.58 crores in
1973 and during 2010-11 the figure stood at a mammoth Rs. 5569.88
crores.

116
 IRDA REGISTRATION
IRDA Registration No. 125 dated 27.08.2002.
 LOGO OF ORIENTAL GENERAL INSURANCE
COMPANY

 VISSION

“TO BE THE MOST RESPECTED & PREFERRED NON-LIFE

INSURER IN THE MARKETS WE OPERATE”.

 MISSION

To contribute to the socio economic objectives of the nation by being a

vibrant and viable organization catering to the growing insurance
needs of the community

Towards this end we will strive for effective management of business

operations.

 VALUE
Highest priority to customer needs.
High standards of public conduct.
Transparency in operations.

117
 High standards of professional ethics

 BOARD OF DIRECTORS

Chairman-Cum-Managing Director

Dr. A. K. Saxena

General Managers

S. K. Chanana

Niraj Kumar

N. K. Singh

K. K. Rao

P Senthilkumar

B.N.Prasad

A.K.Mittal

Sujay Banarji

Company Secretary

Rashmi Bajpai

 ABOUT INSURANCE PLANS

Rural Insurance Policies

1. BHAGYASREE CHILD WELFARE POLICY

2. CATTLE INSURANCE
3. CYCLE RICKSHAW INSURANCE POLICY
4. DOG INSURANCE
5. FISH IN PONDS (EMBANKMENTS)

118
6. INSURANCE OF FISH IN PONDS
7. GRAMIN ACCIDENT INSURANCE
8. JANATA PERSONAL ACCIDENT POLICY
9. KHALIHAN INSURANCE PACKAGE POLICY
10. KISSAN AGRICULTURAL PUMPSET INSURANCE
11. KISSAN PACKAGE INSURANCE POLICY
12. POULTRY INSURANCE
13. RABBIT INSURANCE
14. PLANTATION/HORTICULTURE INSURANCE
15. RAJRAJESHWARI MAHILA KALYAN BIMA YOJNA (NEW)
16. SERICULTURE (SILKWORM) INSURANCE
17. TEA PLANTATION INSURANCE
18. UNIVERSAL HEALTH INSURANCE SCHEME
Popular Policies
1. PNB - Oriental Royal Mediclaim Policy
2. Motor Policies - Terms & Conditions
3. Comprehensive Health Insurance Scheme
4. Electronic Equipment Insurance Policy
5. Group Mediclaim Policy
6. Householders Insurance Policy
7. Individual Mediclaim Policy
8. Kissan Package Insurance
9. Motor Cycle Package Policy
10. Nagrik Suraksha Policy
11. Office Umbrella Policy
12. Oriental Bank Mediclaim Policy
13. Overseas Mediclaim Business and Holiday
14. Overseas Mediclaim Employment and Study
15. Pedal Cycle Insurance Policy
16. Personal Accident - Individual
17. Private Car Package Policy
18. Shopkeeper's Insurance Policy
19. Swasthya Bima Policy
20. Sweet Home Insurance Policy
119
 21. Universal Health Insurance Scheme

 PAYMENTS OF PREMIUM
Payment of premium will be selected as per insurance plan. You can
pay premium by cash, by credit card/debit card or online also.
 CONTACT US
REGISTERED OFFICE

Oriental House, A-25/27, Asaf Ali Road, New Delhi - 110002.

Phone No's :011-43659595, 23279221 - 25 (10 lines)
Alternate number: 011- 33208485 (non toll free)

For any grievance or complaint,

please write to - Mr. Masood Wahab,
Chief Manager,
Customer Service Department,
Head Office, New Delhi.
Contact details :
For all query, guidance and complaints use our Toll free
number:1800118485 .
Email:
For complaints/grievance related to insurance policy or claims:
[email protected]
For complaints/grievance related to online insurance policy:
[email protected]

120
3.6 AN OVERVIEW OF RELIANCE GENERAL
INSURANCE COMPANY
 COMPANY PROFILE
Reliance General Insurance is one of the leading private general
insurance companies of India. We offer an exhaustive and customized
basket of insurance products that include motor, health, travel, student
travel insurance etc with over 94 customized insurance products catering
to the corporate, SME and individual customers. In our endeavour to
delight our customers, we strive to come up with innovative products like
India's first Over-The-Counter health & home insurance policies.
To pursue our belief in providing easy access to our customers and
distributors, we have 152 offices spread across 119 cities in 24 states.
Apart from this, we also provide easy access to our customers with our
dedicated 24x7 call centre, a transactional website, tie-ups through banks,
channel partners and brokers.
 IRDA REGISTRATION
IRDA Registration No. 103 dated 23.10.2000.
 LOGO OF RELIANCE GENERAL INSURANCE
COMPANY

 MISSION

Our Mission is to keep the customer satisfaction as focal point of all

our operations, adopt the best international practices in underwriting,
claims and customer service, be the most innovative in product
development, establish presence all over India, ensure sustained value
addition to all stake holders and to uphold Corporate Value &
Corporate Governance.

121
 VISION
To be an insurer of World Standards and the most preferred choice for
clientele at the domestic and global level.
 GOAL
 Make affordable insurance accessible to all
 Keep customer as focal point for all operations
 Protect policy holders interests
 Adopt best international practices in claims, underwriting and
policy servicing
 Be the most innovative in product development
 Establish Pan India presence
 BOARD OF DIRECTORS

Mr. Debdatta Sengupta

Director

Mr. Debdatta Sengupta was the Chairman of

General Insurance Corporation and prior to this was
the CMD of New India Assurance. He has also been
a director with the ICICI group.

Mr. H. Ansari

Director
Mr. H. Ansari was former Member (Non-life) of the
Insurance Regulatory Development Authority
(IRDA). He was Chair Professor (General
Insurance) of National Insurance Academy, Pune,
and has also worked as an Additional Director at
Center for Insurance Studies, National Law
University, Jodhpur.

Mr. Ansari is a Post-Graduate in Science and has

over 40 years experience of the Insurance Industry.
Prior to his appointment by the Government and
subsequent Joining the Regulatory Authority in

122
March 1999, Mr. Ansari was working as Director
and General Manager of "Oriental Insurance"
Company at its Corporate Office in New Delhi.

Mr. Rajendra P. Chitale

Director
Mr. Rajendra P Chitale is an eminent Chartered
Accountant, is the Managing Partner of M/s
M.P.Chitale & Co. He is a Director on the Board of
the National Stock Exchange of India (NSC) and
other reputed companies. He is also a member of the
Advisory Group on Derivatives and the Takeover
Panel, Securities and Exchange Board of India as
well as the Company Law Advisory Committee of
the Government of India.

Mr. Soumen Ghosh

Director
Mr. Soumen Ghosh holds a BSC ( Hons) degree in
Mechanical Engineering from the University of
London (UK). He is also an Associate Chartered
Accountant from the Institute of Chartered
Accountants England & Wales. Mr. Ghosh has rich
experience in the Insurance domain. Prior to joining
Reliance ADA Group, Mr. Ghosh was associated
with the Bajaj Allianz Group and was Director of
various associate companies. He has also served as
the CEO of Bajaj Allianz General Insurance and
CEO & Country Manager of Bajaj Allianz Life
Insurance.

Mr. Rakesh Jain

Executive Director & CEO

Mr. Rakesh Jain, a Chartered Accountant and Cost
Accountant, has rich and varied work experience of
over 17 years in leadership positions in corporate
finance, risk management, underwriting, claims,
broking and reinsurance functions etc. Prior to
taking over the mantle of ED & CEO of Reliance
General Insurance, he had worked in the capacity of

123
 Director - Corporate Centre & CFO at ICICI
Lombard GIC Ltd. During his tenure at ICICI
Lombard, he was conferred with 'Best CFO' award
in the Financial Services Sector by the Institute of
Chartered Accountants Of India.

 ABOUT INSURANCE PLANS

1. Reliance Student Travel Insurance Policy
2. Travel Insurance
3. Overseas Travel Insurance
4. Annual Multi Trip Insurance
5. Health Insurance
6. Critical Illness Insurance
7. Personal Accident
8. Home Insurance
9. Motor Insurance
 Reliance Private Car Insurance Policy
 Reliance Two Wheeler Insurance Policy
10. Insurance for Small And Medium Enterprises (SMEs)
 Reliance Burglary and Housebreaking Insurance
 Reliance Fire Insurance
 Reliance Package Insurance
 Reliance Marine Cargo Insurance
 Reliance Group Mediclaim Insurance
 Miscellaneous Insurance Policies for SMEs
 PAYMENTS OF PREMIUM
Payment of premium will be selected as per insurance plan. You can
pay premium by cash, by credit card/debit card or online also.
 CONTACT US
Registered Office:
Reliance Centre, 19 Walchand Hirachand Marg, Ballard Estate,
Mumbai - 400 001

124
3.7 AN OVERVIEW OF ROYAL SUNDARAM ALLIANCE
GENERAL INSURANCE COMPANY
 COMPANY PROFILE

Royal Sundaram Alliance Insurance Company Limited takes pride to be

the first private sector general insurance company in India to be licensed
since 2001, Since then we have been at the forefront of providing
innovative general insurance solutions to individuals, families and
businesses. We offer Motor, Health, Personal Accident, Home and Travel
Insurance to individual customers. We also have a wide specialised
insurance offerings in Fire, Marine, Engineering, Liability and Business
Interruption risks to the commercial customers. Royal Sundaram also
offers specially designed products to the Small and Medium enterprises
and Rural customers.

Royal Sundaram's foundations are built on high value system of trust,

commitment and professionalism. We come with golden heritage and
reliability of our promoters - Sundaram Finance, one of the most respected
non-banking financial institution in India, and RSA, one of the oldest and
the second largest general insurer in the UK. The coming together of these
two financial giants allows us to offer the best global practices, innovation
of products and services and unmatched, personalized customer services.

Today, Royal Sundaram is a name to reckon within the insurance

market with the commitment it upholds for superior customer service
delivery. The testimony of this is, our Accident & Health claims process
received ISO 9001-2008 certification for effective customer service
delivery. Some of the other achievements to our credits are:

 The First Insurer to introduce Cashless Mode of Settlement for Health

Claims
 The First private insurer to introduce innovative Health products like
Hospital Cash

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  The First private Insurer to tie up with banks (affinity partners) for
selling retail products into their customers network
 The First Insurer to partner with the top banks in the country and also
have a co-branded credit card
 Preferred Insurer of leading automobile manufacturing companies

Currently, Royal Sundaram has over 5 million customers, over 1700

employees and its products are distributed in over 180 cities across India,
through Agents, Distribution Partners, Affinity Partners and Brokers.

OUR PARTNERS

About Sundaram Finance Sundaram

Finance, a Non-Banking Finance Company, is
one of the most respected financial services
companies in India. It finances the entire range
of commercial vehicles, passenger cars,
construction equipment & tractors. The Group's
operations also extend to Insurance, Asset
Management, Home loans, Business Process
outsourcing and Infotech Solutions. Sundaram
Finance has a nationwide presence with over
500 branches and over half a million customers
and depositors who are serviced by over 2500
employees. Sundaram Direct, its retail
distribution arm offers multiple choices of
various financial products like, loans, life &
general insurance, mutual funds, deposits etc.,
to its customers through out India.

About RSA With a 300 year heritage, RSA is one of

the world's leading multinational quoted insurance
groups. It has the capability to write business in over
130 countries and major operations in the UK,
Scandinavia, Canada, Ireland, Asia and the Middle
East, Latin America and Central and Eastern Europe.
Focusing on general insurance, it has around 23,000
employees and, in 2010, its net written premiums
were £7.5 billion.

 IRDA REGISTRATION
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 IRDA Registration No. 102 dated 23.10.2000.

 LOGO OF ROYAL SUNDARAM ALLIANCE GENERAL

INSURANCE COMPANY

 MISSION
To built on high value system of trust, commitment and
professionalism.
 BOARD OF DIRECTORS

Chairman

Mr P.M.Venkatasubramanian

Directors

Mr S Viji
Mr T T Srinivasaraghavan
Mr S Prasad
Mr M S Sundara Rajan
Mr S Acharya
Mr Paul Whittaker
Mr Christopher John Colahan
Mr Gareth Morgan Roberts
Mr David Patrick Coughlan
Mr Harsha Viji

Managing Director

Mr Ajay Bimbhet
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 ABOUT INSURANCE PLANS
1. HOME INSURANCE
2. HEALTH INSURANCE
3. TRAVEL INSURANCE
4. CAR INSURANCE
5. BUSINESS INSURANCE
6. INDIVIDUAL PERSONAL ACCIDENT

 PAYMENTS OF PREMIUM
Payment of premium will be selected as per insurance plan. You can
pay premium by cash, by credit card/debit card or online also.

 CONTACT US
CUSTOMER SERVICE

Call us at : 1860 425 0000

Email: [email protected]

CORPORATE OFFICE ADDRESS

Royal Sundaram Alliance Insurance Company Limited
Sundaram Towers 45 & 46,
Whites Road, Chennai 600 014
Tel:91-44-28517387 / 91-44-42227373

Fax:91-44-28462345

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3.8 AN OVERVIEW OF TATA AIG GENERAL INSURANCE
COMPANY LIMITED
 COMPANY PROFILE

Tata AIG General Insurance Company Limited (Tata AIG General) is a

joint venture company, formed by the Tata Group and American
International Group, Inc. (AIG). Tata AIG General combines the Tata
Group's pre-eminent leadership position in India and AIG's global
presence as the world's leading international insurance and financial
services organization. The Tata Group holds 74 per cent stake in the
insurance venture with AIG holding the balance 26 percent. Tata AIG
General Insurance Company, which started its operations in India on
January 22, 2001, provides insurance solutions to individuals and
corporate.

ABOUT TATA GROUP

The Tata Group companies operate in seven business sectors:

Communications and Information Technology, Engineering, Materials,
Services, Energy, Consumer Products and Chemicals. The Group was
founded by Jamsetji Tata in the mid 19th century, a period when India had
just set out on the road to gaining independence from British rule.
Consequently, Jamsetji Tata and those who followed him aligned business
opportunities with the objective of nation building. This approach remains
enshrined in the Group's ethos to this day.

The Tata Group is one of India's largest and most respected business
conglomerates, with revenues in 2007-08 of $ 62.5 billion (Rs. 251,543
crore). Tata companies together employ some 350,000 people. The
Group's 27 publicly listed enterprises have a combined market
capitalization of some $ 60 billion and a shareholder base of 3.2 million.
The major Tata Companies are Tata Steel, Tata Consultancy Services, Tata
Motors, Tata Chemicals, Tata Communications, Tata Power, Indian Hotels
and Tata Tea. The Tata Group has operations in more than 85 countries

129
 across six continents, and its companies export products and services to 80
countries.

The Tata family of companies shares a set of five core values: integrity,
understanding, excellence, unity and responsibility. These values, which
have been part of the Group's beliefs and convictions from its earliest days,
continue to guide and drive the business decisions of Tata companies. The
Group and its enterprises have been steadfast and distinctive in their
adherence to business ethics and their commitment to corporate social
responsibility. This is a legacy that has earned the Group the trust of many
millions of stakeholders in a measure few business houses anywhere in the
world can match.

ABOUT AMERICAN INTERNATIONAL GROUP

American International Group, Inc. (AIG) is a leading international

insurance organization with operations in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional, and
individual customers through one of the most extensive worldwide
property-casualty networks of any insurer. In addition, AIG companies are
leading providers of life insurance and retirement services around the
world. AIG common stock is listed on the New York Stock Exchange, as
well as the stock exchanges in Ireland and Tokyo.

 IRDA REGISTRATION
IRDA Registration No. 108 dated 22.01.2001

 LOGO OF TATA AIG GENERAL INSURANCE

COMPANY

130
 MISSION
To create unmatched value for our customers, employees, business
partners and shareholders by delivering remarkable service that is
consistent, fair and transparent.

 VISION
To be India's most preferred General Insurance Company.

 BOARD OF DIRECTORS
K. K. Mishra - Chief Executive Officer and Director
Kalyan Gupta - National Head of Broking Relationship
Gaurav D. Garg - Advisor
Sheetal Kadam - Secretary of Broker Relations

 ABOUT INSURANCE PLANS

1. TRAVEL INSURANCE
2. CAR INSURANCE
3. PERSONAL EXTENDED PROTECTION POLICY
4. RURAL INSURANCE

131
 5. OFFICE INSURANCE
6. HOME INSURANCE
7. HEALTH INSURANCE
8. CORPORATE INSURANCE

 PAYMENTS OF PREMIUM
Payment of premium will be selected as per insurance plan. You can
pay premium by cash, by credit card/debit card or online also.

 AWARDS

Celent Asia Insurance Award 2013

CNBC Awaaz Travel Awards 2012

132
 Asia’s Best Employer Brand Awards 2012

 CONTACT US

Registered Office:
Peninsula Business Park, Tower A, 15th Floor, Ganpatrao Kadam
Marg, Off Senapati Bapat Marg, Lower Parel, Mumbai – 400 013,
Maharashtra, India

133
3.9 AN OVERVIEW OF THE NEW INDIA ASSURANCE
COMPANY
 COMPANY PROFILE

Established by Sir Dorab Tata in 1919, New India is the first wholly Indian
owned insurance company in India.

New India is a pioneer among the Indian Companies on various fronts,

right from insuring the first domestic airlines in 1946 to satellite insurance
in 1980.

With a wide range of policies New India has become one of the largest
non-life insurance companies, not only in India, but also in the Afro-Asian
region.

 IRDA REGISTRATION
IRDA Registration No. 190
 LOGO OF THE NEW INDIA ASSURANCE COMPANY

 MISSION

To be the most respected, trusted and preferred Non-life Insurer in the

Global markets we operate.

 VISION
134
  To develop General Insurance Business in the best interest of the
community.
 To provide Financial Security to Individuals, Trade, Commerce &
all other segments of the Society by offering Insurance products &
Services of High Quality at affordable Cost.

 VALUE
 Highest priority to Customers needs
 High standards of Public Conduct
 Transparency in operations

 CULTURE
 Courtesy and Caring
 Initiatives and Innovation
 Integrity, Trustworthiness and Reliability

 BOARD OF DIRECTORS

Shri G. Srinivasan
Chairman cum Managing Director

Shri Arvind Kumar

IAS,Government Nominee Director.

135
 Smt V. R. Iyer
Director

Shri Sundaresan Ganapathi Subramanian,

Part Time Non Official Director

Shri Prakash Bakliwal,

Part Time Non Official Director

Shri Salamat Ullah,

Part Time Non Official Director

Shri A. R. Sekar
General Manager and Director

136
 Shri K Sanath Kumar
General Manager and Whole-Time Director

 ABOUT INSURANCE PLANS

Personal Insurance

Mediclaim 2012 Policy

Pravasi Bharatiya Bima Yojana Policy (418 KB)

Mediclaim 2007 Policy

Family Floater Mediclaim Policy

Janata Mediclaim Policy

Senior Citizen Mediclaim Policy

Personal Accident Policy

Overseas Mediclaim Policy

Householder's Policy

Motor Policy

Money Insurance

Rasta Apatti Kavach (Road Safety Insurance)

Suhana Safar Policy

TV/VCR/VCP Insurance

Mobile/Cellular Phone Insurance

Other Personal Insurance

137
 Group Mediclaim Policy

Union Health Care Policy

Commercial Insurance

 Jewellers Block Policy

 Bankers Indemnity Policy
 Shopkeeper's Policy
 Marine Cargo Policy
 Plate Glass Insurance
 Special Contigency Policy
 Neon Sign Insurance
 Multi Peril Policy for L.P.G. Dealers
 Fidelity Guarantee Insurance Policy
 Marine Hull Policy
 Aviation Insurance

Industrial Insurance

 Fire Policy
 Burglary Policy
 Machinery Breakdown Policy
 Electronics Equipment Policy
 Consequential Loss Policy
 Contractors All Risk Policy
 Marine cum Erection / Storage cum Erection Policy
 Advanced Loss of Profit / Delay in Startup Policy
 Contractor Plant and Machinery Policy
 Mega Package Policies

Liability Insurance

 Public Liability Policy

 Products Liability Policy
 Professional Indemnity Policy

138
  Directors and Officers Liability Policy
 Lift (Third Party) Insurance
 Employers' Liability Policy
 Carrier's Liability Insurance
 Liability Insurance Act Policy
 Golfers Indemnity Insurance

Social Insurance

 Universal Health Insurance Scheme for BPL families

 Universal Health Insurance Scheme for APL families
 Jan Arogya Bima Policy
 Raj Rajeshwari Mahila Kalyan Yojana
 Bhagyashree Child Welfare Policy
 Janata Personal Accident Insurance
 Student Safety Insurance
 Ashrya Bima Yojana
 Rural Insurance

 PAYMENTS OF PREMIUM
Payment of premium will be selected as per insurance plan. You can
pay premium by cash, by credit card/debit card or online also.
 AWARDS

139
 CONTACT US
The New India Assurance Co. LTD.
87, M.G. Road, Fort,
Mumbai 400 001.

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3.10 AN OVERVIEW OF UNITED INDIA GENERAL
INSURANCE COMPANY
 COMPANY PROFILE

United India Insurance Company Limited was incorporated as a Company

on 18th February 1938. General Insurance Business in India was
nationalized in 1972. 12 Indian Insurance Companies, 4 Cooperative
Insurance Societies and Indian operations of 5 Foreign Insurers, besides
General Insurance operations of southern region of Life Insurance
Corporation of India were merged with United India Insurance Company
Limited. After Nationalization United India has grown by leaps and
bounds and has 18300 work force spread across 1340 offices providing
insurance cover to more than 1 Crore policy holders. The Company has
variety of insurance products to provide insurance cover from bullock carts
to satellites.

United India has been in the forefront of designing and implementing

complex covers to large customers, as in cases of ONGC Ltd , GMR-
Hyderabad International Airport Ltd, Mumbai International Airport Ltd
Tirumala-Tirupati Devasthanam etc. We have been also the pioneer in
taking Insurance to rural masses with large level implementation of
Universal Health Insurance Programme of Government of India & Vijaya
Raji Janani Kalyan Yojana ( covering 45 lakhs women in the state of
Madhya Pradesh) , Tsunami Jan Bima Yojana (in 4 states covering 4.59
lakhs of families) , National Livestock Insurance and many such schemes.

We have also made our presence in more than 200 tier II & III towns and
villages through our innovative Micro Offices.

 IRDA REGISTRATION
IRDA Registration No. 108 dated 22.01.2001

 LOGO OF UNITED INDIA GENERAL INSURANCE

COMPANY
141
 MISSION

 To provide Insurance protection to all.

 To ensure customer satisfaction
 To function on sound business principles.
 To help minimize national waste and to help develop the Indian
economy.

 VISION
 To become the most preferred insurer in India, with global footprint
and recognition.
 To become a trusted brand admired by all stakeholders.
 To become the best-in-class customer service provider leveraging
technology and multiple channels.
 To become the provider of a broad range of innovative products to
meet the needs of all customer segments.
 To be a great place to work, with highly motivated and empowered
employees.
 To be recognized for its contribution to the Society.

 BOARD OF DIRECTORS
Shri Milind A Kharat
Chairman cum Managing Director
Smt Priya Kumar
Director Department of Financial services Govt of India
Shri T M Bhasin
Chairman cum Managing Director Indian Bank
Shri A Thrivikraman Thampi
142
 Director
Shri S. Surenther
Director & General Manager
Smt Asha Nair
Director & General Manager

 ABOUT INSURANCE PLANS

1. FIRE INSURANCE
2. MARINE INSURANCE
3. HEALTH INSURANCE
4. MOTOR INSURANCE
5. INDUSTRIAL INSURANCE
6. LIABILITY INSURANCE
7. MISCALLENIOUS INSURANCE
8. MICRO INSURANCE
9. CREDIT INSURANCE
 PAYMENTS OF PREMIUM
Payment of premium will be selected as per insurance plan. You can
pay premium by cash, by credit card/debit card or online also.
 AWARDS
United India wins Skoch Award 2013 for Crop Insurance Portal
 CONTACT US

Registered & Head Office

United India Insurance Co. Ltd.
24, Whites Road,
Chennai - 600014
Ph :91-044-28520161

Corporate Learning Centre

'NALANDA' Corporate Learning Centre.
United India Insurance Co. Ltd.
No.19, IV Lane(Beside M.O.P Vaishnav College)
Nungambakkam High Road Chennai – 600 034, Tamil Nadu, India
Ph : 91-044- 28332220/ 28330421

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3.11 REFERENCES

WEBSITE
1. www.irda.com

2. www.gic.com

3. www. Bajajallianz.com

4. www. cholainsurance.com

5. www.hdfcergo.com

6. www.nationalinsuranceindia.com

7. www.orientalinsurance.org.in

8. www.reliancegeneral.co.in

9. www.royalsundaram.in

10. www.tataaiginsurance.in

11. www.newindia.co.in

12. www.uiic.co.in

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