General Insurance Companies in India
Ensuring the safety of your valued assets should remain your prime priority. An asset can be your newly bought car, bike, home, valuable metals like gold, silver, money, etc. These items are high valued assets and should be safeguarded from any unforeseen events. This is the time when general insurance comes into the picture!
General Insurance or non-life-insurance offers protection of property against fire and ignition, theft, burglary, etc. personal insurance like health insurance, and liability insurance, which covers legitimate liabilities. Mistakes and Omissions protection for experts, credit insurance, and so forth are also secured under the general insurance policy. Distinctive insurance companies in India offer thorough insurance policies to the individual.
Types of General Insurance Policies:
Following are the types of general insurance policies offered by various insurance companies in India:
The motor insurance policy provides complete and cost-effective insurance plans for two-wheeler and car including commercial and private vehicles, with the optimum coverage.
Health insurance policy is an arrangement, which essentially provides its customer with financial cover against any incurred medical expenses either for insured individual or family.
Travel insurance policy is designed for the people to provide financial support in case of any mishap such as the loss of luggage, passport or any other belongings while travelling.
Home insurance policy is a type of insurance policy that offers cover for home and its contents to stay safe and secure from the perils of damages and losses that might arise due to any unforeseen event.
List of General Insurance Companies in India
Listed below are some of the most prominent insurance companies in India catering to the needs of the people from all walks of life:
Aditya Birla General Insurance provides insurance products along with optimum protection at pocket-friendly rates. It ensures the satisfaction of every individual and the plans are designed in such a way, which fulfils the requirements of the customers. This general insurance company likewise ensures hassle-free and offers smart insurance solutions. Get yourself and your family adequately covered against the uncertainties of life at any point of time.
Bajaj Finserv Limited and Allianz SE joined hands in the year 2001 and formed Bajaj Allianz General Insurance Company. The services offered by the company are IRDA certified and cater to the various insurance needs of the people. This makes it one of the most reliable insurance companies in India. The insurer offers insurance solutions in both life and non-life category. The most famous products include health, travel, motor, home, life insurance etc.
Bharti AXA General Insurance Company Ltd. is a collaboration of AXA - world pioneer in financial protection and Bharti Enterprise - a leading Indian business group. Established in 2008, the general insurance company is licensed with the Insurance Regulatory and Development Authority of India (IRDA). The insurance provider offers a wide range of general insurance products including health, motor, home, travel, etc.
Cholamandalam MS General Insurance Company Ltd. Is a combined amalgamation between the Murugappa Group and Mitsui Sumitomo. At present, the company has 105 branches across the nation. Besides, the company has a broader product portfolio of motor, accident, travel, rural, and much more accessible for both corporate and individuals.
DHFL General Insurance Company offers a diverse product portfolio in regards to travel, motor, health and home insurance. The company essentially focuses upon customers satisfaction and that remains the priority. As per your insurance needs, you can easily tailor the various plans offered by the company and get the maximum coverage.
Digit General Insurance is also known as Go Digit besides is the nation’s first digital insurer. The insurer offers a range of non-life insurance products in the category car, two-wheelers, travel, health, home and mobile insurance. The insurer has tie-ups with market leaders such as Policybazaar.com, PayTM, Tanishq, and Cleartrip to ensure a wider audience.
Edelweiss General Insurance assures that that be it you or your family, it will take care of all your insurance needs in terms of the health, the ride or the home where you reside. The USP that makes this a preferred choice amongst the customer is a simplified and quick process of insurance purchase. To enjoy an easy and hassle-free insurance company, Edelweiss Group has surely touched the lives of many. The plans offer caters to the need of all the customers at affordable prices.
Future Generali India is a joint venture between Generali Group and Future Group. The company provides comprehensive insurance solutions through a range of personal, retail, commercial and rural insurance products. Incorporated in 2007, the company was formed with the motive to help its clients to mitigate their financial needs. With more than 15, 00, 00 customers, the insurance provider claims to have settled around 2, 10,000 claims every year. Marking its presence in more than 125 cities in India the various insurance products of the insurer, it offers motor, health, travel, home, PMFBY, lifestyle, commercial, rural etc.
HDFC ERGO General insurance is a combined amalgamation between HDFC Limited of India and Ergo International AG based in Munich. The company provides comprehensive insurance solutions. Meanwhile, it also firmly believes in delivering seamless services and fulfilling the needs of the customers. It has diversified insurance product portfolio encompassing travel, home, health and so on.
HDFC ERGO Health Insurance Limited
HDFC ERGO Health Insurance Limited (formerly known as Apollo Munich) has been constantly providing innovative health insurance and wellness solutions and meeting the needs of the customers. The company is always there to solve your issues and has an uncomplicated purchase process. One of the leading general insurance companies in India, the handsome claim settlement ratio wherein the claims is most likely settled within 30 days of duration. Different insurance products offered by the insurer include health, travel, motor, personal accident, etc.
Laid its foundation stone in the year 2000, IFFCO Tokio is collaboration between Tokio Marine, Farmer Fertilizers Co-operative and Nichido Fire Group, a famous fire insurance group in Japan. Since its inception, the insurer has been serving with various non-life insurance products including health, motor, home, travel, SME etc. and is now counted amongst the prominent insurance companies in India.
Kotak Mahindra General Insurance was founded in the year 2015 and a complete subsidiary of Kotak Mahindra Group currently has 13 branches and more across the country. The company ensures customer satisfaction coming from all walks of life and are provided with an array of insurance products such as health, motor, etc. Besides, it also offers different types of third-party liability insurance policy.
Liberty General Insurance has started its operations in the year 2013. It is a combined agreement between Liberty Mutual Insurance Group, Liberty Industries Limited, and Liberty Citystate Holdings Pte Ltd. The insurer, being one of the competent insurance companies in India strives for providing industrial, commercial and retail insurance solutions. Insurance products like car insurance, two-wheeler insurance, health insurance, and commercial insurance are among the looked for products in the market.
Formerly known as CignaTTK Health Insurance Company, ManipalCigna Health Insurance Company Limited is a collaboration between Manipal Group, a leader in healthcare delivery and Cigna Corporation, a global health services company. With the motive of spreading wellness and good healthcare, ManipalCigna offers a handful of insurance products ranging from health, travel, personal accident, SME, insurance for employer-employee, and non-employer-employee. The insurer offers quality healthcare and safeguards long term financial goals of its users and hence is one of the leading insurance companies in India.
Max Bupa General Insurance Company is a combined venture between Max India Limited and Bupa Finance Plc. based in the UK. In the year 2015, the company has been awarded the prestigious Golden Peacock Award for its flagship product. It has already made a name in the insurance industry with exemplary services and products. With a plethora of choices in the insurance plans, you make a wise choice.
National Insurance Company started its operations in the year 1906. Headquartered in Kolkata, the insurer offers insurance solutions into various categories including motor, health, home, travel, business etc. Car insurance offered by the insurer is quite famous in the market. It has been rewarded as the Best Auto Insurer in 2017 for car insurance.
New India Assurance is a multinational general insurance company of India, which serves in 28 nations and headquartered in Mumbai. The worldwide business of the company is more than Rs. 22,270 Crore. In India, it has 2452 workplaces, including more than 1339 smaller offices. With over 230 products, the insurer believes in providing comprehensive insurance solutions to its customers. The services ranging from insurance in motor, health, travel, rural and marine, the company has been leading the market and remains a preferred choice when it comes to the insurance company in India.
Headquartered in New Delhi, Oriental General Insurance has been serving this sector since 1947 and has made a mark in the prominent insurance companies in India. With 31 regional offices and more than 1800 operational branches across India, the company offers complete insurance solutions to its customers. Oriental Insurance is not only in India flourishing in India, but also has expanded its services Nepal, Kuwait, and Dubai. Various insurance products offered by the insurer include motor insurance, mediclaim insurance, personal accident insurance, travel insurance, overseas mediclaim insurance, fire insurance, shopkeeper’s policy, householder policy etc.
Raheja QBE is the joint amalgamation of QBE Holdings (AAP) Pty Limited and Prism Cement Limited, India. With the head office in Mumbai, the insurer received its Certificate of Registration from IRDA in 2008 and is now considered as one of the leading insurance companies in India. Since then, it has been serving the industry with an A+ rating for excellence. The various insurance products offered by the insurer include Health insurance, corporate insurance, health insurance, motor insurance and so on.
With its 139 branches and more than 28,900 intermediaries all over the country, Reliance General Insurance is one of the renowned names in the list of insurance companies in India. The insurance products offered by the insurer can be categorised into health travel, motor, home marine, etc. The insurer doesn’t limit itself to insurance and claims but also encourages the people to follow a healthy standard of living. The company believes in making affordable insurance accessible to all.
Royal Sundaram General Insurance, formerly known as Royal Sundaram Alliance Insurance, is the first of its kind to be licensed in October 2000 under IRDA. It holds a rank in the list of foremost insurance companies in India. The insurer was initially a joint venture of Sundaram Finance, a famous non-banking institute and other Indian Shareholders. Ageas Insurance International N.V. acquired 40% of the equity stake and left 10% for Indian Shareholders. The insurer offers a range of insurance products with over 200 employees and 143 branches across the country. The most sought-after products include-car, health home, travel, bike, personal accident, commercial vehicle, business etc.
Founded in the year 2010, SBI General Insurance is a joint venture between two financial giants - State Bank of India (SBI) and Insurance Australia Group (IAG). The insurer offers a range of insurance products in commercial and retail space at affordable premiums and ranks amongst the popular insurance companies in India. The comprehensive range of products includes- health, motor, personal accident, travel, home insurance etc.
The insurance company is the result of the collaboration between Joint Venture between Shriram Capital Ltd. and Sanlam Limited (South Africa). The insurer started its operations in 2012. The company believes in providing comprehensive insurance solutions through its innovative products in the category car, two-wheelers, travel, home, personal accident, commercial vehicle insurance, business insurance etc.
Commenced its operations in the year 2006, Star Health and Allied Insurance company have spread its services in health insurance, overseas medical insurance, and personal accident Insurance. The insurer is famous for its service excellence. The insurer offers a wide range of insurance products, whole-heartedly dedicated to health insurance. With a decent claim settlement ratio, it ranks amongst the ideal insurance companies in India.
Headquartered in Mumbai, TATA AIG General Insurance was founded in the year 2001 and is now counted in the foremost insurance companies in India. The company is a result of the collaboration with American International Group and is considered among the sought-after insurance companies. The insurer introduced a range of innovative products to cater to the different needs of its customers. Tata AIG is famous for motor insurance, health insurance, and travel insurance. It also offers insurance to Private Client Group, which includes clients like artists, entrepreneurs and royal families.
Started its operations in the year 1938, United India Insurance Company is one of the finest insurance companies in India. The insurer has its head office in Chennai. Since its inception, the company has emerged leaps and bound to be one of the renowned insurers. Today, it has 18300 workforces spread through 1340 branches across India offering insurance solutions to around 1 Crore policyholders. Ranked amongst the top insurance companies in India, this insurer has a variety of insurance products including motor, health, personal accident, travel, shopkeeper’s insurance etc. Among its other product category, there are fire insurance, marine insurance, liability insurance, industrial insurance, credit, micro insurance etc.
Universal Sompo General Insurance Company Ltd. is a private-public joint venture between three public-sector banks namely, Indian Overseas Bank (IOB), Allahabad Bank, and Karnataka Bank; Dabur India Ltd. - one of the leading FMGC Companies of India, and Sompo Japan Nipponkoa - a private Japanese insurance company based out in Tokyo. Sompo is a Fortune 500 Company that has a capital of 70 Billion Yen. Universal Sompo got 5th position in the list of top 15 for providing general insurance products as per a survey conducted by ICMR-BFM.
- Aditya Birla General Insurance
- Apollo Munich General Insurance
- Bajaj Allianz General Insurance
- Bharti AXA General Insurance
- Cholamandalam MS General Insurance
- DHFL General Insurance
- Digit General Insurance
- Edelweiss General Insurance
- Future Generali General Insurance
- Future Generali Life Insurance
- HDFC ERGO General Insurance
- IFFCO Tokio General Insurance
- Kotak Mahindra General Insurance
- Liberty General Insurance
- ManipalCigna General Insurance
- Max Bupa General Insurance
- National General Insurance
- New India Assurance General Insurance
- Oriental General Insurance
- Raheja QBE General Insurance
- Reliance General Insurance
- Royal Sundaram General Insurance
- SBI General Insurance
- Shriram General Insurance
- Star Health and Allied General Insurance
- Tata AIG General Insurance
- United India General Insurance
- Universal Sompo General Insurance
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