Oriental InsuranceIncurred Claim Ratio - 96*
Oriental Insurance Company Overview
Oriental Insurance Company Ltd was established on 12th September, 1947. The company 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.
Oriental Insurance Company headquarter located at New Delhi. It has 31 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 general insurance provider in India.
Dr. AK Saxena operates as 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 crore in the financial year of 2013-2014.
Oriental Insurance Product Portfolio
Oriental Health Insurance:
Oriental Health Insurance 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 the well-being of yourself and your family.
The Oriental individual mediclaim policy is available to any individual between the age of 18 and 80 years for treatment in India. It is a health cover for medical expenses incurred by the insured due to hospitalisation. The hospitalisation may occur due to a sudden illness, an accident or a surgery necessitated by a disease, during the policy period.
The Oriental happy family floater policy is a health insurance policy for the entire family including the insured, his or her spouse, children, parents and parents-in-law. The floater aspect of the policy implies single sum insured for the entire family provided they reside in India. The policy is available as two plans – Silver and Gold. No medical examination is required for persons up to the age of 60 years.
3. Oriental Group Mediclaim Insurance Policy:
This group mediclaim policy from Oriental insurance is available to any group, association, institution or a corporate body of more than 50 persons or families, provided it has a central administration point. The policy reimburses reasonable and necessary expenses for hospitalisation expenses for illnesses or diseases contracted or injury sustained by the insured persons during the policy period up to the sum insured.
4. Oriental Jan Arogya Insurance Policy:
The Oriental jan arogya policy covers reimbursement of expenses incurred on hospitalisation for any illness, diseases or injury. In the event of any claim becoming admissible under the scheme, the insured person is paid an amount equivalent to reasonable expenses that are incurred by or on behalf of the insured person. However, the amount paid should not exceed the sum insured in any one period of insurance.
5. Oriental Bank Mediclaim Insurance Policy:
This Oreintal Insurance cover is available to account holders and employees of Oriental Bank of Commerce. The group policy reimburses reasonable and necessary expenses for hospitalisation due to an illness or disease, or an injury sustained by the insured persons during the policy period. The amount paid can be up to the sum insured limit.
6. Oriental Health of Privileged Elders (HOPE) Insurance Policy:
The Health of Privileged Elders (HOPE) policy has been exclusively designed for citizens aged 60 years and above. The policy reimburses hospitalisation and/or domiciliary hospitalisation expenses for specified diseases contracted or injuries sustained by the insured persons. The sum insured amounts available are Rs. 1/2/3/4/5 lakh.
7. PNB Oriental Royal Mediclaim Insurance:
The PNB-Oriental Royal Mediclaim Insurance Policy is available to account holders and employees of Punjab National Bank. The policy reimburses reasonable and necessary expenses for due to an illness, disease or injury up to the sum insured limit.
8. Oriental Pravasi Bharatiya Bima Yojana (PBBY):
This Oriental insurance scheme is available to all Indian citizens who apply and obtain an emigration clearance required under the Emigrant Act, 1983 (31 of 1983), between the age group of 18 and 60 years while on employment abroad. In case of accidental death or permanent disablement that leads to loss of employment while in employment abroad, a capital sum insured Rs. 10 lakh is paid to the insured or his/her nominee or legal representative.
9. Oriental Thana Janta Sahakari Bank Mediplus Insurance Policy:
The Thana Janta Sahakari Bank Mediplus Policy reimburses hospitalisation expenses for illness or diseases contracted, or injury sustained by the insured person. In the case of a claim, the company or the third party administrator (TPA) will pay the hospital or the insured.
Road accident and theft are the two most common issues that every car owner must take care of. The Oriental car insurance plan does exactly the same for you. It offers a comprehensive coverage so that you can ride stress-free.
A Oriental 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, and can be further reduced if the owner installs anti-theft equipment, 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.
This Oriental Insurance policy provides indemnity for expenses incurred on treatment for illnesses or injury suffered during overseas travel. The condition must an emergency and should require immediate treatment. The plan covers Indian residents undertaking bonafide trips abroad for business and official reasons or for holidays. The sum insured ranges from Rs. 50000 to Rs. 500000.
This Oriental Insurance policy provides indemnity for expenses incurred on medical treatment for illnesses or injuries that happen during overseas travel for employment or study. The minimum period of cover is of 2 months, and a maximum of 12 months. The sum insured is $75000. The policy can be renewed if required. The premium has to be paid in US dollars, irrespective of the country being visited.
Buying a home is probably one of the biggest investments you have ever made in your life. Therefore, 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.
1. Oriental Personal Accident:
The Oriental personal accident policy provides compensation in the case of injuries that may result in death or disablement, whether temporary or permanent. One can opt for additional benefits such as cumulative bonus, and children education fund, among others.
2. Oriental Gramin Accident Insurance:
The Oriental Gramin accident insurance policy covers accidents in the rural sector. The policy provides compensation in the event of death, permanent total disablement, loss of limbs or loss of eyesight due to accidents. It covers any person between the age group of 10 to 70 years irrespective of occupation, income, etc.
3. Oriental Jan Arogya Bima:
The Oriental Jan Arogya Bima policy is available to persons between the age of 5 and 70 years and provides for hospitalisation and domiciliary hospitalisation expenses for a premium as low as Rs. 70 for an adult individual and Rs. 50 for each dependent child not exceeding 25 years of age. Benefits are offered up to Rs. 5000 per person per annum without any sub-limits.
4. Oriental Janata Personal Accident Insurance Policy:
The Oriental Janata Personal accident policy provides compensation to the insured or his/her family in the event of death, permanent disablement, loss of limbs or loss of eyesight due to an accident.
5. Oriental Nagrik Suraksha Insurance Policy:
Oriental Nagrik Suraksha Policy is an accidental insurance that provides compensation for accidental injuries and/or reimburses hospital expenses incurred due to the accidental injuries. The policy covers Indian citizens in the age group of 5 to 70 years in the family package, and between 18 and 70 years for the individual/group cover.
6. Oriental Group Personal Accident Insurance Policy:
This Oriental insurance policy provides compensation if one of the persons in the insured group sustains injuries, solely and directly because of an accident caused due to a visible act of violence and results in death, or temporary or permanent disablement.
7. Oriental Personal Accident Insurance Policy(Individual):
The Oriental Personal Accident Insurance policy for individual which provides compensation in the event of the insured sustaining injuries, solely and directly resulting from an accident caused by violence, visible and external means, which leads to death, or temporary or permanent disablement
Oriental Liability Insurance Policies:
The liability policies from Oriental Insurance protects the insured against any liability that may arise in the natural course of their business
- Directors And Officers Liability Policy
- Professional Indemnity Errors & Omissions Insurance for Chartered Accountants/Financial
- Accountants/Management Consultants/Lawyers/Advocates/Solicitors/Counsels
- Professional Indemnity Errors & Omissions Insurance Policy for Consulting Engineers/Architects & Interior Decorators
- Professional Indemnity Policy for Doctors and Medical Practitioners
- Professional Negligence Errors and Omissions Insurance Policy for Medical Establishments
- Sports Insurance Policy
- Stock Brokers Indemnity Insurance Policy
Oriental Business Office/Traders/Multi Peril Policies
Oriental Insurance provides various commercial insurance policies meant to protect the trading community
- Burglary Policy
- Carriers’ Liability Policy
- Electronic Equipment Insurance Policy
- Fidelity Guarantee Policy - Floating Group
- Fidelity Guarantee Policy - Individual Named
- Money Insurance Policy
- Multi Peril Policy For LP Gas Dealers
- Neon Sign Policy
- Office Umbrella Policy
- Plate Glass Insurance Policy
- Policy For Jewellers' Block Insurance
- Shopkeeper's Insurance Policy
Oriental Engineering/Industry Policies:
Oriental Insurance offers various policies for the engineering/industry sector.
- Advance Loss Of Profit (following erection all risks)
- All Risks Insurance
- Contractor's All Risk Insurance Policy
- Employers Liability Insurance
- Engineering Insurance
- Fire Policy 'C'
- Industrial All Risk Insurance Policy
- Liability Insurance Policy (under Public Liability Insurance Act 1991)
- Machinery Breakdown Insurance Policy
- Machinery Insurance Policy
- Machinery Loss Of Profit Insurance Policy (output basis)
- Product Liability Policy
- Public Liability Policy (industrial risk)
- Public Liability Policy (non-industrial risk)
- Standard Fire and Special Perils Policy (material damage)
Oriental Agriculture/Sericulture/Poultry Insurance Policies
Oriental Insurance has a range of general insurance policies for farmers, fishermen, horticulturalists, apiarists and various other people plying their trade in rural markets
- Animal Driven Cart/Tanga Insurance
- Apple Insurance (Input) Policy
- Aquaculture (Shrimp/Prawn) Insurance Policy
- Beetlevine Insurance (input policy)
- Coconut Palm Insurance Policy
- Failed Well Insurance
- Honey Bee Insurance Scheme
- Hut Insurance
- Inland Fresh Water Fish (Embankments) Insurance
- Insurance of Biogas Plant (Gobargas)
- Khalihan Insurance Package Policy
- Kissan Package Insurance
- Package Insurance for Tribals
- Plantation/Horticulture (Input) Policy
- Policy for Insurance of Fish in ponds (fresh water)
- Policy for Kisan Agricultural Pumpset Insurance Scheme
- Poultry Insurance
- Rose Plantation Insurance
- Sericulture (Silkworm) Insurance
- Tea Plantation Insurance
Oriental Animals/Birds General Insurance Policies:
These Oriental Insurance policies cover animals owned by people or businesses and kept either for commercial purposes or for personal reasons
- Calf/Heifers Rearing Insurance Scheme
- Camel Insurance
- Cattle Insurance
- Dog Insurance
- Duck Insurance Scheme
- Elephant Insurance
- Foetus (Unborn Calf) Insurance Scheme
- Horse/Yak/Mule/Pony/Donkey Insurance
- Pig Insurance
- Rabbit Insurance
- Sheep And Goat Insurance Policy
Oriental Aviation and Marine Policies
The aviation and marine policies from Oriental Insurance provide the necessary cover to the aviation and shipping industries
- Aircraft Hull and Spares All Risks Aviation Liability Insurance (airlines)
- Aircraft Hull/Liability Insurance Policy
- Aviation Fuelling/Refuelling Liability Insurance Policy
- Aviation Personnel Accident (crew members)
- Loss of License Insurance
- Hull War and Allied Peril Policy
It is advisable to compare online Oriental insurance plans with other General insurance companies plans in India to choose the best insurance plan that suits you the most.
How to Compare & Buy Oriental Insurance Policy Online
There are plenty of web aggregators that help the buyers to compare insurance plans online. One such aggregator is Policybazaar.com where one can compare different insurance policies and even purchase a required insurance plan. To compare the plans and policies of Oriental Insurance, one can take the help of Policybazaar.com and can purchase a suitable plan as well.
Oriental Insurance Renewal Process
An insured can renew his/her Oriental Insurance policy by paying the premiums online. Be it car, bike, or health insurance policy of Oriental Insurance, a user can renew it online in following steps. However, it is suggested to renew a policy before an existing policy expires.
- Visit the official website of the Oriental Insurance
- At the top of the website, there is a tab ‘RENEW’ for renewing the policy.
- Clicking the renew option takes to another webpage. On this web page, there is an option for selecting a policy. Select either old OICL policy or non-OICL policy accordingly.
- Now fill up the remaining details with the policy number and other details of the policy.
- Go to the option of premium payment. The premiums can be paid through Master cards or Visa debit and credit cards, Internet Banking, RuPay Debit Cards, IMPS, UPI, Cash Cards, or E-Wallets.
Oriental Insurance FAQs
1. What is Cumulative Bonus?
A. If a policyholder does not opt for any claim in an entire policy period he/she is eligible for getting 5% of cumulative bonus. This cumulative bonus is provided for each non-claim year until this bonus reaches to 50%.
2. What is the process to make claim through Oriental Insurance Company Limited?
A. An insured is required to intimate the OICL as soon as possible. After that, the policyholder is requested to download the claim form according to the Oriental Insurance policy. However, if an insured wants, he/she can opt for e-claim as well. The OICL asks for the policy number, supporting documents, and the details of the nominee and the policyholder at the time of settling the claim.
3. What kind of insurance policies are offered by Oriental Insurance Company Limited?
A. One can purchase various non-life insurance policies online from Oriental Insurance Company. There are general insurance products like car insurance, two wheeler insurance, travel insurance, health insurance, etc. available.
4. What is the sweet home insurance policy of Oriental Insurance?
A. It is an insurance policy that covers content, building, and machinery breakdown of the electronic / electrical items and covers personal accident of self and spouse.
5. What are the benefits that one gets in Personal Accident Insurance of Oriental Insurance?
A. Personal Accident Insurance covers accidental demise, permanent partial or general disability, limbs loss, etc. as per the policy coverage and based on the norms of underwriting.
Oriental Insurance - Latest News
Milap Chand appointed as the Chief Regional Manager at the Oriental Insurance Company
A 1987 Direct Recruit Officer, Milap Chand has been appointed as the Chief Regional Manager of the at Nagpur regional branch of The Oriental Insurance. Before joining the Nagpur Regional Branch, Milap was working as a regional manager with the regional branch of The Oriental Insurance Company Limited in Raipur.
Milap Chand belongs to Kangra in the state of Himachal Pradesh. He pursued his master’s degree in agricultural sciences and is also a Insurance Institute of India‘s fellow member. He has worked at Chandigarh, Ludhiana, and Shimla and managed various regional offices in several positions, such as divisional manager, branch manager, senior divisional manager, etc. before being promoted as a regional manager in 2013.
He is well-known for his excellent Marketing proficiency in the General Insurance sector of the Indian Insurance Industry. Along with Vidharbha, the Regional Office at Nagpur also has some offices in Jalgaon, Dhule and Aurangabad, under its direct control. The offices combined procure premiums up to the amount of Rs. 128 Crores.
The company post Milap Chand joining the office as Chief Regional Manager is expecting a procurement of utmost intact rural insurance business with premium touching an amount of nearly Rs. 200 Crores.
Oriental General Insurance and Other PSU Insurers to Give 13.5% hike on Wages
The employees of 5 public sector insurance companies including Oriental General Insurance have got the wage hike of 13.5 % with retroactive affect from August 2012. The new wage pact is going to benefit 63,000 employees of the four state run general insurer that includes Oriental General Insurance and sole re-insurer GIC.
The newly appointed chairmen of GIPSA Mr. A.K Saxsena who is also the chairmen and MD of Oriental General Insurance has told that the employees will be getting around 13.5% hike in their wages according to the agreement implemented since February 2016. He also concluded that, as per the wage revision the basic salary will be revised by merging the DA with the basic pay for all employees.
The total annual wage hike will benefit around 8.5lakh employees and officers in 43 bank. this annual wage hike will work out to be Rs4,725crore.
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Oriental Insurance Reviews
Excellent service and efforts.. Thumbs up
It was a great experience to renew my car insurance through policy bazar..The agent Mr samarth chaddha pw01688 was so helpful in guiding me through the best possible quotes rates and the max benefits out of the policy..Highly recommended for renewal
Policy helps a lot
In my opinion everybody should buy health insurance plan because it really helps. The bills of the hospitals and many more things. Service is really very good which is given by the oriental general insurance company, I took insurance plan for me and my family members. Good coverage and claims in low investments.
"Health is Wealth"
Oriental general insurance company is the one which provides me the health insurance plan in very low price. Premium is less but the returns are not. Coverage is approx.90% and claiming procedure is easy as easy ABC. Service is really nice and fast.
Oriental Health Insurance
Oriental general insurance is very nice insurance company. I purchase health insurance in very low premium and returns are very high policy coverage approx. 90%. Claiming procedure is very simple and service provided by the executives and staff is very fast and on time.
Health insurance is very important in these time, I have one like everyone does. The policy provides good service because it has many hospitals working 24X7 and the ambulance is facilitate absolutely free. Claims and policy coverage is fantastic.
The health insurance of mine is fantastic and i buy it from oriental general insurance. The claims are high and premiums are low. Service is quick and on time too. Policy coverage is around ~89%. The online portal service is easy to use and anybody access it easily.
My health insurance plan is very nice with some good features. The policy coverage is high and claims are awesome which easily sanctioned due to fast service provided by the staff members of the company. The web service is simple to access and easy to renew the policy.
I buy oriental two wheeler insurance plan for my new bike. The policy coverage is high and the claims are good. The service is very good. Large number of garages and tow facilities are available for free. I like the plan.
Oriental travel insurance plan i purchase in very low premium. The policy coverage is good and the claims are better. The luggage and accidental coverage is included in the plan. Good service provided by the executives and the staff members. Good plan, I love it.
I own oriental insurance personal accident plan. The plan is great with great benefits. The policy coverage is high ~84% and the claims are even better. Service provided by the executives and the staff members is fast and on time. I like the plan.
I have oriental home insurance plan which is really very good. The policy coverage and claims are high and the premiums is low. Service is fast and on time. Many more things are secure including the house in this policy. Daily updates are mailed to me. Good service, I like the policy plan.
I purchase oriental commercial vehicle insurance. Accidental death benefits for driver/owner of the vehicle. No Coverage in case of damage to property conveyed by the towed vehicle. Renewal of plans from any location. The policy coverage and the claims are good. All okay plan.
I have just started with Oriental Health Insurance. It was provided to me by my company. It will cover my whole family with a medical coverage of 2 lakhs. I was not having any claim experience they helped me all through. I am satisfied with their services provided to the customer. They are also giving a good claim ratio. They are settling all the hospital bills and medical expenses.
My friend told me about the benefits and features of oriental car insurance. So I purchased Oriental insurance for my new four-wheeler. Now, it has been 4 years and they have not given me any chance for disappointment. It covers insurance for all parts of cars like glass, materials and fiber. I have claimed it once when I met with an accident last year and I got 80% of my claim with easy procedure. It was hassle free process and all staff members were co-operative.