Universal Sompo General Insurance Company Ltd. offers 205 IRDAI-approved insurance products along with 1494 add-on covers. Their bouquet of insurance products includes health & critical illness, personal accident, home for individuals, motor, crop, and shopkeepers' packages. They also include other non-life packages for SMEs, engineering, fire, employee’s benefit, marine, liability, project insurance and other special insurance products for corporates.
The Universal Sompo General Insurance Company was awarded as the ‘Best BSFI Brand’ of 2021 and 2022 by the Economic Times. The company also won the ‘Best Use of Artificial Intelligence 2022’ award. Moreover, the company was honoured with the ‘Best Customer Service 2020-21’ award by the Insurance Alertss India.
Why Choose Universal Sompo Health Insurance?
Some of the top reasons to choose Universal Sompo Health Insurance plans are mentioned below:
- 5500+ Network Hospitals: The company has a wide network of more than 5500 hospitals. In any of its network hospitals, you can avail cashless treatment in case of an emergency or planned hospitalization.
- 24x7 Customer Care Assistance: The customer care of the company is there to help you 24X7. You can contact the insurance company on their helpline number for getting any help related to insurance. Moreover, the live chat facility and the AI-based claim intimation module of the insurer let you solve your queries instantly.
- Respectable Claim Settlement Ratio: The Universal Sompo Health Insurance Company has a very respectable claim settlement ratio, which is 98.27% for the 2021-22 financial year. This clearly shows that the company is good at handling the claim requests by the customers.
- 205 IRDAI-Approved Products: The insurance company offers 205 insurance products that have been approved by IRDAI. With the complete range of approved products available in the market, the company has shown a strong footprint in the insurance field and provides efficient service.
- In-house Claim Settlement Process: The company has an in-house process for claim settlement that improves the customer service and experience at the time of claim.
Highlights of Universal Sompo General Insurance Company
|Incurred Claim Ratio (2020-21)
|Claim Settlement Ratio (2020-21)
|Pre-existing Illnesses Waiting Period
|In-house Claim Settlement
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Vision and Mission of Universal Sompo General Insurance Company
Take a look at the vision and mission of Universal Sompo General Insurance Company below:
Vision: The vision of the company is to establish itself as the leader in the insurance industry. The company seeks to win the confidence of its customers by delivering valuable insurance products and consistently improving its services.
Mission: The company aims to provide world-class general insurance products and services to its customers, such as bike, car, health, commercial, travel, etc. For providing maximum satisfaction to its customers, the company is working with a customer-centric approach along with flawless post-claim services. Moreover, they are constantly working to ensure stable returns and incremental growth of the company. The company also understands that its employees are its backbone, and so, they strive to build a dynamic work environment to improve the level of job satisfaction among the employees. As a result, this increases the delight and experience of the customers.
Universal Sompo General Insurance Company – Interesting Facts
- The company has a paid-up capital of Rs. 368.18 crore.
- The company is being promoted by three leading banks in India and it has an Assets Under Management (AUM) of Rs. 3,741 crore, which shows that the insurance provider has a firm base.
- Licensed in 2007, the company has a vintage of 15 years.
- The company has 117 branch offices and 17 zonal offices at different locations in India.
- The company has a Gross Written Premium of Rs. 3,487 crore in the Financial Year 2021-22.
- The company has a wide range of insurance plans that can easily be customized for meeting the unique requirements of individuals and organizations irrespective of the size of SMEs and corporates.
Universal Sompo General Insurance Product Portfolio
Universal Sompo Health Insurance Plans:
Universal Sompo Health Insurance policies help to protect your family against financial losses arising out of medical emergencies. It pays for hospitalization expenses as well as domiciliary hospitalization benefits if you suffer from an illness or accidental injury during the policy period. Take a look at the various health insurance plans offered by Universal Sompo Health Insurance Company:
- Complete Health Care Insurance: This comprehensive policy reimburses medical expenses incurred on hospitalization, out-patient treatment and various value-added services. The plan comes in seven variants: Basic, Essential, Privilege, Plus, Premier, Executive and Digi-Pro.
- Super Healthcare Insurance Policy: The policy is a top-up insurance plan that covers hospitalization expenses, ambulance services, maternity benefits as well as domiciliary hospitalization benefits if the insured suffers from an illness or an accidental injury. No medical tests are required for up to 55 years or up to Rs 20 lakh sum insured.
- Group Health Insurance Policy: The policy is designed for employees of an organization or a business or members of an institution, society, association, or club. The cover extends to hospitalization expenses, day care procedures and domiciliary hospitalization benefits in case of an illness or injury. It also has various add-on covers such as critical illness cover, maternity benefit cover, and daily cash cover among others. The plan comes with the family floater option too.
- Aapat Suraksha Bima Policy: A lump sum benefit plan from the company, this policy guards the insured and/or their nominees against sudden and unexpected expenditures arising out of loss of life, loss of income due to an accident and disabilities. While accidental death is a compulsory cover under the plan, disability coverage is optional.
- Loan Secure Insurance: The plan helps to mitigate the burden of loans taken by the insured in case of unforeseen contingencies. The plan has been specially designed for customers of banks and financial Institutions and covers major illnesses and surgical procedures besides the loss of job and loss of housing due to fire and allied perils.
- Hospital Cash Insurance: The policy offers hospital confinement benefit, intensive care benefit, and convalescence benefit in the event of hospitalization. It can cover an individual, his/her spouse, dependent children up to the age of 25 years, and dependent parents.
- Saral Suraksha Bima: The plan offers a lump sum amount in the case of an eventuality resulting from an accident. The policy covers death, permanent total disablement and permanent partial disablement resulting from an accident.
- Sampoorna Suraksha Bima: The Sampoorna Suraksha Bima offers protection for various events that may lead to financial losses for the insured and his/her family members. It protects the household structure and contents against man-made and natural calamities and burglary and theft. It also guards the insured against accidental bodily injury that leads to serious consequences, such as disablement or even death, and provides health insurance for treatment for an illness as well as for hospitalization.
- Senior Citizen Health Insurance Policy: This policy is designed for individuals and their spouses between the ages of 60 and 70 years. It covers pre and post-hospitalization expenses, daycare procedures/surgeries, ambulance charges, etc. It also offers a daily allowance for each day of hospitalization and covers the expenses incurred by an accompanying person.
- Pravasi Bharatiya Bima Yojana: This policy insures emigrants who are staying abroad for work-related reasons against injuries, hospitalization expenses, maternity expenses, and daycare procedures among other things. It covers Indian citizens aged 18-65 years and their family members including the spouse, children, and dependent parents.
- Surva Vidyarthi Bima Yojana: This is a group health plan for educational institutions and schools to cover their students and staff members against injuries that lead to disablement and even death. Multiple extensions can be taken under the policy, such as for the loss of personal belongings, ambulance charges, reimbursement of examination fees, etc.
Universal Sompo Travel Insurance Plans:
We put a lot into planning a trip. However, to ensure that our vacation is a complete success, travel insurance is an absolute necessity. Whether you lost your baggage or need some medical assistance, a travel insurance policy will make sure that you get what you need. Check out the types of travel insurance plans offered by Universal Sompo General Insurance Company:
- Travel Insurance Policy: This plan covers individuals between the ages of 1 year and 70 years travelling abroad for business or holiday. It protects against loss or delay of baggage, loss of passport, emergency medical treatment or hospitalization, and more.
- Domestic Travel Insurance Policy: This plan covers the insured traveller against any adversity faced while travelling within India. It covers any loss or damages to the baggage of the traveller.
A car insurance policy helps you to escape from expenses incurred on your car or any other vehicle due to an unforeseen incident. The plan covers vehicles used by the car owner or by his/her employees for social, domestic, and recreation purposes. The plans do not cover vehicles used for hire or reward, racing, speed testing, etc.
- Motor Private Car Insurance Plan: This policy covers any loss or damage to the insured vehicle due to fire, accidents, natural and manmade events. It also covers third party liabilities of the policyholder resulting from the insured car. Optional extensions include loss of accessories and legal liability to the paid driver.
Two-wheeler insurance protects your vehicle against natural and manmade calamities like a rockslide, fire, flood, earthquake, etc. Two-wheeler insurance has two variants- comprehensive & third party, which is compulsory by the law. A two-wheeler policy not only protects your vehicle against unforeseen things but also curtails your financial losses during accidents.
For many people around the world, passenger-carrying vehicles are the main source of income. To safeguard your investment from accidents and third party damages, it is vital to buy commercial vehicle insurance for your passenger carrying vehicles. It will ensure that your insurance company will pay for any loss or damages arising out of the vehicle.
Goods carrying vehicles are an important part of any business. Any loss or damage to your commercial vehicle will most likely affect your business. Therefore, it is necessary to insure them under a commercial vehicle insurance policy for goods carrying vehicles. Doing so will ensure that the losses incurred will be covered by the motor insurance company.
Home Insurance plans cater to the overall requirement of you as a house owner and give you comprehensive coverage. It covers the structure of the house as well as its contents against loss or damages due to natural calamity, fire, burglary, etc.
A personal accident insurance policy gives you the much-needed financial security for you and your family in case of an accident. This policy doesn’t stop with death benefits only but also covers other dire consequences like permanent/temporary disability, etc. Check out the various Universal Sompo personal accident insurance plans:
- Individual Personal Accident Policy: The Individual Personal Accident policy helps the insured and his/her family from the expenses resulting from unforeseeable accidents. Anyone between the ages of 5 and 65 years can enrol in the policy. However, people beyond 65 years of age and below 75 years have a 20% loading on premium. The plan comes in three variants – Basic Cover, Wider Cover, and Comprehensive Cover.
- Janta Personal Accident Policy: The Janta Personal Accident Policy protects against injuries resulting from an accident and covers death and permanent total disablement. The coverage is available for employees of a firm or a company, members of an association or club, depositors of banks, members of cooperative society, NGO, SHG, Kisan Credit Card Holders, and members of the APL and BPL segments of the society.
- Group Personal Accident Policy: This group insurance plan from Universal Sompo General Insurance covers the policyholder and its employees or members against unforeseeable accidents. The policy also covers dependent children and parents of the employees.
Universal Sompo Commercial Insurance Plans:
Take a look at some of the Universal Sompo Commercial Vehicle Insurance plans:
Universal Sompo Rural Insurance Plans:
- Swarna Gramin Bima Yojana - Individual
- Swarna Gramin Bima Yojana - Group
Universal Sompo General Insurance Bancassurance Insurance Plans:
Take a look at some of the Universal Sompo Bancassurance Insurance plans:
- IOB Health Care Plus
- Indian Bank Health Care Plus
- Karnataka Bank Health Care Plus
- IOB Health Care Plus Insurance Policy
It is advisable to compare all Universal Sompo General insurance plans with plans from other general insurance companies in India and zero down on the plan that suits you the most.
Universal Sompo General Insurance Claim Process
For Health Insurance Claims:
Cashless Claim Process:
Step 1: Inform the Universal Sompo General Insurance Company within 24 hours of the hospitalization in case of emergency admission and 48 hours before a planned hospitalization admission. You can call on 1800 – 200 – 5142 to intimate the insurance company.
Step 2: Visit the network hospital with your Health Serve Card issued by the insurance company and a valid photo ID proof. You can get the ‘Cashless Request Form’ from the Insurance helpdesk of the hospital.
Step 3: Fill up the Cashless Request Form and submit it at the insurance desk of the hospital.
Step 4: The hospital verifies the details in the form and sends it to the Health Department of the insurance company via fax.
Step 5: The Health department of the Universal Sompo General Insurance Company reviews the Cashless Request and decides to accept or reject the request as per the terms & conditions of your policy. The decision will be communicated to you and the hospital.
Step 6: The insurance company will pay for the covered hospital expenses. However, you will have to pay for the expenses not covered under your health insurance policy.
Reimbursement Claim Process:
Step 1:Inform the insurance company about your claim within 24 hours in case of emergency hospitalization and 48 hours before a planned hospitalization by calling on 1800 – 200 – 5142.
Step 2: Receive the treatment at a hospital and settle the full hospitalization bill at the time of discharge.
Step 3: Collect all your original documents, bills and receipts from the hospital during discharge.
Step 4: Fill up the Reimbursement Claim form and submit all the required original documents to the insurance company for the reimbursement of all the incurred expenses.
Step 5: After receiving all the documents, the Universal Sompo General Insurance Company will process your claim request as per the terms & conditions of your policy. The details of the claim settlement will be informed to you.
For Personal Accident Insurance Claims:
Step 1: Inform the insurance company instantly about the accident by calling on 1800 – 22 – 4030.
Step 2: File an FIR at the nearest police station and obtain its copy
Step 3: The customer executive will guide you through the process.
Step 4: Submit all the relevant documents to the insurance company. These documents are a copy of the policy, claim form, FIR, claim intimation, death certificate, report of post-mortem, etc.
Step 5: The insurance company will review and settle your claim request as per the terms & conditions of the policy.
Universal Sompo General Insurance Distribution Network
The Universal Sompo General Insurance Company operates with the help of more than 117 offices across the country. Moreover, the company provides its customers with easy channels of access to its products through its 24x7 call centre and a transactional website.
Universal Sompo General Insurance Company – Premium Payment Process
The premium of a policy by Universal Sompo General Insurance Company can be either paid online or offline. Take a look at the online and offline payment methods below:
- Online Payment: You can pay through any of the below-mentioned gateways:
- Net banking
- Debit or Credit Card – MasterCard, Visa, Bharat QR, and American Express
- Offline Payment: You can visit the nearest branch of the company and make the payment.
Universal Sompo General Insurance - FAQs
Ans: When Universal Sompo General Insurance Company issues you the Health Serve Card, it also gives you an extensive list of the network hospitals. However, this list may change with time. Therefore, you can get the updated list of network hospitals on the official website of the insurance company.
Ans: A Universal Sompo Health Insurance policyholder should file the claim at least in 30 days from the discharge date from the hospital or after completion of the treatment.
Ans: People who are insured under a Universal Sompo health insurance plan are eligible to get tax benefits u/s 80D of the Income Tax Act, 1961. Every taxpayer is eligible to get the annual deduction of Rs.25, 000 from the taxable income for paying the premium for a health insurance plan for dependents and self. However, senior citizens can avail a tax deduction of up to Rs 50,000 every year.
Ans: For any policy related queries, you can contact the company wither by giving a call to their call center or by emailing them.
Ans: In case of permanent partial disability, you will get the compensation as per the nature of your injury and the percentage of the sum insured mentioned in the policy documents or as per the suggestions/recommendations of the company’s medical practitioner.
Ans: In case of a planned or emergency hospitalization, you need to contact the customer care team of Universal Sompo General Insurance Company by calling on their toll-free number and informing them about your claim.
Ans: Yes, the Universal Sompo General Insurance Company provides coverage against all the legal liabilities arising out of the third-party damages because of an accident caused by the owner-driver of the vehicle.
The list of the necessary documents that need to be submitted in case of car insurance claim settlement is as follows:
- Car insurance policy copy
- Copy of the RC
- Copy of the driving license
- Copy of PUC