Shriram General Insurance Company LtdIncurred Claim Ratio - 90*
Shriram General Insurance Overview
Shriram General Insurance Company is a joint venture between Shriram Group, holding 74% stake in the company and South Africa based Sanlam Limited, which holds the remaining 26% share.
Established in 1974, Shriram Group has an overall customer base of over 9.5 million, with more than 45,000 employees across 2400 branches in India. The company has net profit of over Rs. 15 billion and assets under management of Rs. 60,000 crore.
The Sanlam Group, a financial services group, provides professional financial advice and financial products to individuals and corporate customers. The company was established in 1918 and over the years, it evolved from a traditional insurer to a diversified financial services provider.
Shriram General Insurance Company has the slogan “Be Insured…Rest Assured” which clearly defines the service parameters of this company. Jasmit Singh Gujral is the Managing Director and CEO of Shriram General Insurance Company. The company has been awarded “Excellence in Growth Award” for two consecutive years in 2011 and 2012.
Having a car insurance plan is mandatory. However, what differentiates one plan from another is the premium and the corresponding sum assured you get. Then there are discounts, riders and freebies. Shriram group offers good car insurance product that promises to give the best coverage at a competitive cost.
Shriram General Private Car Insurance Policy:
The motor insurance plan provides comprehensive coverage, not only covering the car against the mandatory third party liability, but also against losses caused to the car due to man-made or natural events such as fire, theft, explosion, burglary, riots, strikes, earthquakes, flood, cyclones, accidents, malicious acts and terrorist activities. It offers convenient cashless claim service at preferred network garages and quick claim settlement. A No Claim Bonus is offered at the time of renewal if the insured does not make an OD claim during the policy period. One can even transfer existing No Claim Bonus from any insurance provider. Attractive add-ons are available on payment of nominal additional premium. The vehicles are insured at a fixed value called the Insured Declared Value (IDV). It is calculated on the basis of the manufacturer’s listed selling price of the vehicle (plus the listed price of any accessories) after deducting the depreciation for every year as per the schedule provided by the Indian Motor Tariff Act.
Two-wheelers are one of the most economic vehicles. They enjoy better average and are easy to drive. Speed is thrilling but it can be dangerous too. So every owner should prioritize his safety and thus, guard their vehicle with apt two-wheeler insurance.
This Shriram General Insurance policy aims to protect the insured from financial loss incurred to get the vehicle repaired or replaced in case of damage or theft. Additionally, it also meets the mandatory third party liability clause under the Motor Vehicles Act. Enhanced protections through nil depreciation are also available. The policy offers hassle-free cashless claim service at preferred network garages and speedy claim settlement. Moreover, the status of claim can be tracked online. A No Claim Bonus discount is awarded at the time of renewal if the insured does not make an OD claim during the policy period. An option to transfer existing No Claim Bonus from any insurance provider is also available. Insurance premium for the vehicle is dependent upon the cubic capacity of the engine, carrying capacity or gross weight of the vehicle, age, place of registration and the IDV (Insured Declared Value).
Commercial vehicle insurance is something that should be given utmost importance. This is due to the fact that the vehicle is attached to your business and therefore, to continue earning profits, it is important that your vehicles run uninterruptedly on road. A good commercial vehicle covers you against any kind of vehicle liability that might come in your way.
Shriram General Insurance policies help to safeguard your home and are specially designed to meet the insurance requirements of a householder by combining all covers under a single policy.
The Householder Umbrella Insurance Policy by Shriram General Insurance is a package policy specially designed to meet the insurance requirements of a householder. It combines a number of insurance covers generally taken by householders under one single policy. The product has five sections and four categories of sum insured. Customers have the flexibility of choosing one among the four plans insured as per their requirement or value of property. The premium is available in two categories – full coverage and one without fire and allied perils for building/flat [Section 1 (A)]. If the insured owns the building/flat, then he/she can opt for Section 1 (A), or else he/she can ignore the category and take the rest of the cover. The policy covers fire and allied perils, building/flat (class A construction only) and its contents. It also covers burglary, loss of cash due to assault on the insured and personal accident suffered by the insured.
Life is uncertain but your future should not be. Accident, death of a bread earner can pose serious financial threat to the family. So it is advised to buy a personal accident policy to ensure complete safety and peace of mind. The policy covers medical expenses and gives financial assistance in case of disability or death of loved ones in an accident.
The Personal Accident Insurance policy is designed to cover an individual or group of people against death and total/permanent/partial disablement from accidental bodily injury. The cover offered is worldwide. Age of insured person should be between 5 and 70 years. The total capital sum insured of a person should not exceed 60 month’s salary/income from present occupation. Income from property, shares, etc. is not taken into account.
Shriram General Insurance also offers a range of general insurance policies for the business, engineering and commercial sectors, among others.
- Standard Fire & Special Perils Policy
- Industrial All Risk Policy
- Fire Loss of Profit Policy
- Contractors All Risk Insurance Policy
- Erection All Risk Insurance Policy
- Electronic Equipment Insurance Policy
- Machinery Breakdown Insurance Policy
- Contractor’s Plant And Machinery Insurance
- Boiler & Pressure Plant Insurance Policy
- Cargo Insurance Policy
- Professional Indemnity – For Doctors and Other Than Doctors
- Commercial General Liability
- Error & Omissions – For Medical Establishments
- Product Liability
- Public Liability – Non Industrial
- Public Liability – Act
- Workman Compensation Insurance
- Shri Suraksha Insurance
- Shopkeeper Umbrella Package Insurance
- Fidelity Guarantee Policy
- Burglary Insurance
- All Risk Insurance
- Business Protector Policy
It is advisable to compare all Shriram General insurance plans with plans from other general insurance companies in India to choose the best insurance plan that suits you the most.
Shriram Distribution Network:
Shriram operates with over 50 branches across the country.
- Bajaj Allianz General Insurance
- Max Bupa Health General
- SBI General Insurance
- L&T General Insurance
- Raheja QBE General Insurance
- Bharti AXA General Insurance
- Universal Sompo General Insurance
- Future Generali General Insurance
- Apollo Munich General Insurance
- Star Health and Allied General Insurance
- Export Credit Guarantee Corporation of India (General Insurance)
- HDFC Ergo General Insurance
- Agriculture Insurance Company (General Insurance)
- Cholamandalam MS General Insurance
- Tata AIG General Insurance
- Reliance General Insurance
- New India Assurance (General Insurance)
- IFFCO Tokio General Insurance
- ICICI Lombard General Insurance
- Oriental General Insurance
- Magma HDI General Insurance
- Liberty Videocon General Insurance
- Cigna TTK Health (General Insurance))
- Importance of Health Insurance and Its Features
- Why women prefer health insurance plans offering preventive check-ups
- Why Family Floater Policies Offer You More for Less
- Pradhan Mantri Suraksha Bima Yojana
- Cancer Insurance versus a Critical Illness Plan
- The Indian Government to Expand Health Insurance Scheme to 50 Crore People