Top Providers Of Car Insurance From India
Here we will discuss about the top car insurance providers in the country of India
This company in India for the insurance of the cars in India was incorporated in the year 1947 at Bombay. This is a subsidiary of the Oriental Government Security Life Assurance Company Ltd and had its formation in order to be able to carry out the General Insurance business in the independent India. This company also operated as a subsidiary of the Life Insurance Corporation of India from the years 1956 till the year 1973. Then it was witnessed that the business of the General Insurance was nationalized in the country of India. Then in the year 2003, it was seen that all the shares of this company were held by the General Insurance Corporation of India. Then they had their transfers that were done to the Central Government of India. The company is a pioneer in laying down of the systems. This is done in order for the smooth as well as the orderly conduct of the business of the car insurance in India. The strength of the company is believed in order to be laid in the pillars of the organization that has been trained and skilled in order to make a delivery of some of the most fantastic offers in the insurance sector of India related to the cars. They cater the needs of not only the urban population, but also the rural population of India. They have developed a team of highly efficient, trained as well as qualified professionals who are competent in order that the customers are on the receiving end of the best of the customer service.
They are the privately held insurance policy providers for the loss as well as the damage of the vehicle of the various people in India. They protect the cars in India against the risk of the accident, fire, riots, earthquakes, theft, floods etc. They also give the coverage in terms of the liability like the death in general, injury to the person driving the car as well as the third party damage to the property of the car. They are engaged in the various policies that are related to the general insurance, re insurance, health insurance, management of the claims as well as the management that is done for the investment purposes of the individuals as well as the companies. They also make the provision of the personal accident cover of more than over two lakh rupees for the driver of the car who also should happen to be the owner of the car, while there is some of the traveling that is involved in the meantime. They cause the mounting as well as the dismounting of the property that is damaged from the car. They also make an offering of the personal accident coverage for the passengers who are traveling while on the cars during accidents.
They form the largest private sector company in India that deals with the insurance in general. They have been able to collect a Gross Written Premium of more than over Rupees 36948 million. They have been assigned a rating of AAA by the ICRA in India which makes their business quite a reputed one in the country of India. This business in India is established on a profit sharing ratio basis of 74:26 per cent. They have 350 branches that are present in all over India. ICICI is the second largest bank in India. They have a consolidated total assets of over more than 100 billion. This is a joint venture that has been established between the two financial giants in the industry related to the finance. They companies being the ICICI bank limited as well as the Fairfax Financial Holdings Limited in Canada. They hold a position that has been fundamentally strong. They have been best health insurance provider in India for the fourth consecutive year. They have also been awarded the Golden Peacock Eco Innovation Award in the year 2009. They have issued a number of policies in the last financial year which have been amounted to over more than 62 lakh claims alone.
This company in India was founded by the Tata founder member on the July 23rd in the year of 1919. The brand of the TATA group in India is a very reputed ones and hence they have been able to quickly gain access to development of a number of policies in India to be launched. They have been acknowledged for their highest claim paying ability. hey have a disposal ratio of their claims being 96 per cent. They have around 4700 employees working for the business of theirs. Their overseas operations were commenced in the year 1920. They consider their strength in opening largest number of offices in India related to the insurance of the cars and various other things to be covered via their insurance policies.
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