Oriental Insurance Company Ltd
- Incurred Claim Ratio - 96*
- Get Quotes
Oriental Insurance Company Overview
The Oriental Insurance Company Ltd was established on 12th September, 1947, began its operations in Mumbai, India. Previously, it was wholly owned subsidiary of Oriental Government Security Life Assurance Company Limited. From 1956 to 1973, the company was a subsidiary of LIC before nationalization of General Insurance Business in India. In 2003, the Union Government acquired all the shares of Oriental Insurance Company Ltd from General Insurance Corporation of India.
Headquartered at New Delhi, Oriental Insurance Company Ltd has 30 regional offices and more than 1800 active branches across the country. The company has shown its international presence by opening its branches in Nepal, Kuwait, and Dubai. With more than 1400 employees, Oriental Insurance Company has emerged as one of the leading insurance providers in India.
Dr. AK Saxena operates is the Chairman cum Managing Director of Oriental Insurance Company. With a first year premium of Rs. 99, 556, the company made a modest beginning in 1950. The company has recorded the Gross Premium of Rs. 7282.54 crores in the financial year of 2013-2014.
Oriental Insurance Product Portfolio
Oriental health plans take care of all your medical emergencies by managing the financial aspect. Once you are sorted financially, you can concentrate on taking care of well-being of yourself and your family.
Road accident and theft are the two most common issues that every car owner must take care of. Oriental car insurance plan does exactly the same for you. It offers a comprehensive coverage so that you can ride, stress-free.
A two-wheeler insurance policy keeps your two-wheeler secured against damages caused by man-made and natural calamities. The cost of two-wheeler insurance is nominal,which can be further reduced if the owner installs anti-theft equipments, like siren and tracker on his/her two-wheeler.
Anyone who owns a business must have some type of commercial vehicle that must be used to make deliveries. This vehicle, like other vehicles running on the road, must be insured. This is where commercial vehicle policy steps in. There are commercial vehicle insurance policies available to cover vehicles like goods carrying vehicles, passenger carrying vehicles, etc.
Oriental travel insurance policies become a great companion for you on your holidays, business trips or visits and help in safeguarding the dilemma of lost baggage on the way.
Buying a home is probably one of the biggest investments you have ever made in your life. So it is your responsibility to protect it from unpredictable damages including natural or manmade disasters. Home insurance gives an all-encompassing protection for your dream home. A comprehensive home insurance policy also covers the content of a house.
Accidents are unforeseen. Such mishaps not only affect a person physically but the impact can also be felt on the emotional and financial grounds. Hence, it becomes important to ensure the financial stability of your family by buying a good personal accident policy. The policy covers death of individual and physical injuries.
It is advisable to compare all Oriental General insurance plans from other General insurance companies in India to choose the best insurance plan that suits you the most.
Oriental Insurance Distribution Network:
Oriental Insurance has more than 26 regional offices and more than 900 operating offices across India. It also has operations in countries such as Nepal, Kuwait and Dubai. It has a total strength of more than 15,000 employees.
Oriental General Insurance - Latest News
Oriental Insurance Company and Vipul Medcorp Private Ltd asked to pay Rs 15,000 as compensation for mental and physical harassmentJanuary 12, 2016: UT Consumer Disputes Redressal Forum has asked Oriental Insurance Company Ltd (OICL) and Vipul Medcorp Private Ltd to pay a compensation of Rs 15,000 to Ankit Aggarwal, a resident of Mani Majra, for wrongfully deducting from his claim and thereby causing mental and physical harassment. They have also been asked to pay Rs 10,000 as litigation costs and to return Rs 14,580 deducted from the complainant’s claim. According to the complainant, he had purchased Happy Family Floater Policy from OICL for himself as well as his dependents parents Anand Parkash and Dazy Rani, covering the period between March 29, 2014 and March 28, 2015. His father underwent a surgery at Virdi Eye Hospital, which raised a bill of Rs 36,000. However, Oriental Insurance Company approved the claim to the tune of Rs 21,420, deducting Rs 14,580 from the actual claim. Even after protesting the deduction, OICL transferred Rs 21,420 to his account without his consent. The complainant also alleged that OICL never informed him that claims would be settled by Vipul Medcorp Private Ltd. The redressal forum ruled that Oriental Insurance Company was deficient in giving proper service to Ankit Aggarwal and indulged in unfair trade practice.
- Agriculture Insurance Company (General Insurance)
- Apollo Munich General Insurance
- Bajaj Allianz General
- Bharti AXA General
- Cholamandalam MS General
- Cigna TTK Health (General Insurance))
- Export Credit Guarantee Corporation of India (General Insurance)
- Future Generali General
- Future Generali Life Insurance
- HDFC Ergo General
- ICICI Lombard General
- IFFCO Tokio General
- L&T General
- Liberty Videocon General Insurance
- Magma HDI General
- Max Bupa Health General
- Raheja QBE General
- Reliance General
- SBI General
- Shriram General
- Star Health and Allied General Insurance
- Tata AIG General
- Universal Sompo General
- Loading in Insurance Policies
- Save 35k on tax with a Health Insurance policy
- Best Reliance Health Insurance Plans
- How to prevent rejection of health/medical insurance claims?
- Why Should You Buy Personal Accident Insurance Policy?
- Top Bharti AXA Health Insurance Plans
- 6 Outstanding Health Insurance Plans from Apollo Munich
- Waiting Period in Health Insurance
- 9 Hidden Benefits in Health Insurance Policies
- Health & the city: Should you go for a zonal cover?