Liberty General Insurance Company
Liberty General Insurance Company Overview
Liberty General Insurance Limited is a private general insurance company headquartered in Mumbai, India. It is a joint venture among US property casualty insurer Liberty Mutual Insurance Group, Indian private investment fund Enam Securities, and Indian industrial conglomerate DP Jindal Group. Liberty General Insurance commenced operations in 2013 with an objective of providing comprehensive retail, commercial and industrial insurance solutions to individuals as well as corporates.
In March 2018, Liberty General Insurance managed to achieve a market share of 0.54%, with a growth rate of 40% in 2017. The company tends to perform with a vision to make people live with more security and safety by delivering much more than any insurance company. The company tries to build a plethora of insurance choices for its customers. It continuously strives hard to deliver its commitments made to the customers, empowering the employees of the company, and creating sustainable value for our promoters.
Liberty General Insurance Company Statistics
Liberty General Insurance Firm renders the best possible offerings to its policyholder which incorporates unparalleled infrastructure, innovative products, and customised solutions at the best prices. The general insurance company is loaded with an employee strength of 1200+ that works in a network of 97 offices which are spread in 95 cities across 28 states of India.
Liberty General Insurance Company provides a diverse range of insurance products such as car insurance, two-wheeler insurance, health insurance, engineering insurance, marine insurance, property insurance, commercial vehicle insurance and so on. Liberty Insurance Insurance Company has accomplished a few momentous figures with its exceptional performance which are as follow:
Claim Settlement Ratio
Liberty General Insurance Company Financial
In the financial year 2019-20, the Liberty General Insurance Company achieved gross direct written premium of Rs. 1,53,137 Lakh. The company registered a premium growth of 36% in comparison to overall India Non-Life market growth of 10.6 %. The Indian Non-Life insurance premium crossed Rs. 1,89,301 crores in 2018-19. The general insurance company continues to be one of the fastest growing private sector multi line multi-channel companies in the Non-Life Insurance industry. The market share of the company also increased to 1.68 % in 2019-20.
Why Should You Choose Liberty General Insurance?
Liberty General Insurance impresses its customers with its performance and its policies with their features and benefits. In total, there are many reasons to opt for a plan of Liberty General Insurance. Here are some benefits due to which customer could not ignore this insurance company:
- Exceptional Claim Assistance – Liberty General Insurance is always by the side of its policyholders in the times of emergencies. The company enables its customers to quickly reach them anytime they are in need with anytime claim assistance approach. The customers can make the claim request through call or by registering the claim on the website. Due to exceptional assistance, the company managed to record a claim settlement ratio of 82.54% for the financial year 2018-19.
- 24x7 Customer Support – The general insurance company aims to perform with a customer centric approach. It understands the value of time and support in the time of an emergency hence, the company offers 24x7 customer assistance for its policyholders. You can reach out to the customer team of the company by calling them at toll free number 1800-266-5844 or by writing them an email at email@example.com.
- Extensive and Strong Network – Accidents or illness can affect you anytime and anywhere. Hence, Liberty General Insurance has developed an extensive and robust network of associate hospitals and garages spanning the entire nation to make its policyholders get the required health care and repair assistance no matter where you are. The company has more than 4,300 cashless garages and over 5,000 cashless hospitals to help you without worrying about financial repercussions.
- Innovative Insurance Solutions – Liberty General has introduced the LivMobile application to assist its policyholders in managing their insurance plans, information, and insurance related services. In addition to managing insurance policies & claims, this innovative app provides several other benefits and features like buying & tracking of policy, registration of claim in 4 simple steps, get the renewal notice, easy to contact the insurer for help, hospital and garage locator feature and insurance tips.
- Wide Range of Insurance Products – The general insurance company offers almost every type of insurance products and services to its customers. This feature makes the Liberty General Insurance one stop solution company. The insurance products offered by the insurance firm are health insurance, car insurance, two-wheeler insurance, commercial vehicle insurance, property insurance, marine insurance, risk engineering and so on. All these insurance products are available at affordable prices.
Awards and Achievements of Liberty General Insurance Company Limited
Liberty General Insurance, since its inception, has been gaining highest standards of customer service, advanced technological implementation and insurance industry contributions due to which it received many awards and felicitations. Here are some of those awards and recognitions bagged by the firm:
- IDC Insights Award 2016
- Digital Transformation Award 2016
- ACEF Asian Leadership Awards – 2019
- Future of Marketing Summit and Awards
- Employer of Choice by World Marketing Council
- Most Influential Retail Leaders by CMO ASIA
- CEO of the Year – General Insurance Category
- Model Insurer Asia – Digital and Omni Channel Award 2017
Liberty General Insurance Product Portfolio
Liberty General Car Insurance Policy
To drive a car without third party insurance is a punishable offence as per the Indian Motor Tariff. Having at least third party insurance is compulsory for every owner of the insured car. Liberty General Insurance offers liability only insurance plan to cover any injury or damage suffered by third parties or its property, arising out of an accident with your insured vehicle.
The general insurance company also offers a package policy, which gives comprehensive coverage against the third party damages and damage to the owner's vehicle called as own-damage cover. It covers the damages or losses sustained by your car due to accident, theft, natural calamities and man-made disasters. It also gives coverage for commercial cars which are used for commercial purposes. In addition to these, different add-on options are also provided by the general insurance company.
Liberty General Bike Insurance Policy
Alike in car insurance, to own a third party insurance is also mandatory to drive any two-wheeler as per the Indian Motor Tariff. Driving a two-wheeler is a punishable offence punishable by the law. Owning the liability only cover will provide you coverage against the financial liabilities which you may incur towards a third party in an accident or mishap with the involvement of your insured bike or scooter.
In addition to this, Liberty General Insurance offers a comprehensive bike insurance policy which provides coverage against liability cover as well as own damage cover. It gives extensive two-wheeler insurance coverage that insures you and your vehicle against any injury and damage or loss as well as monetary liabilities arising towards third party liability. The firm offers two-wheeler insurance plans with annual policies and multi-year policies.
Liberty General Health Insurance Policy
The health insurance plans offered by the Liberty General Insurance provide extensive insurance coverage in terms to medical expenses during a medical emergency. The company acquires different health insurance plans such as Liberty Health Connect Policy, Health Connect Supra, Secure Health Connect, Janata Personal Accident Insurance Policy and Individual Personal Accident. These plans together give coverage for in-patient hospitalisation expenses, pre and post hospitalisation expenses, daycare procedure, preventive care and so on. To get health insurance from Liberty General Insurance will find you various other benefits like attractive renewal benefits, free look period option, unique loyalty perk benefits and so on. With these health insurance plans, policyholders can earn tax benefits on the premium amount as per the section 80D of the Income Tax Act, 1961.
Liberty General Commercial Insurance Policy
Different businesses are exposed to different risks, losses and damages. Safety practices are essential for every commercial entity and considering the capital investment, the commercial insurance becomes essential to safeguard a business and its employees against risks, accidents and illnesses. The purchase of commercial insurance plans from Liberty General Insurance will make you enjoy various benefits. The commercial policies will help you protect your assets and revenues, shielding firm’s interests, insuring wheels of business, securing your projects and profits, etc. Some commercial insurance plans of the company are liability insurance, marine insurance, commercial property insurance, employee benefit insurance, risk engineering insurance and so on.
Liberty General Insurance Distribution Network
Liberty General Insurance Company has opened 37 new branches across India. Total number of offices of the firm has expanded to 113, including the corporate office. The general insurance company has opened 9 more branches and recruited strong talented teams across its functions which has taken the total headcount to 1266. The focus of the company is on building a performance focused team that can drive the firm towards meeting its overall goals.
Liberty General Insurance User Reviews
- Most Helpful
- Zero Depreciation
- Third Party
- Own Damage
- Cashless Garages
- Policy Download
- Customer Care
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Liberty General Insurance FAQs
What are the types of insurance plans offered by Liberty General Insurance?
The Liberty General Insurance offers different types of insurance policies which include car insurance, two-wheeler insurance, health insurance, marine insurance, property insurance, liability insurance, risk engineering insurance and so on.
Can I get a duplicate copy of the insurance policy if I have lost the original one?
Yes, you can get a duplicate copy of your insurance plan. To get it, you can contact the Liberty General Insurance company at the toll free number 1800-266-5844 or send us an email at firstname.lastname@example.org. Also, you can visit the nearest branch office of the company.
What is the claim settlement ratio of Liberty General Insurance Company?
The claim settlement ratio of the Liberty General Insurance Company is 98% for the year 2020-21. It denotes that the company has settled a huge number of claims.
Will I be allowed to cancel my Liberty General insurance plan after buying it?
Yes, you will be allowed to cancel your Liberty General Insurance plan even after its purchase. A free period of 15 days is offered with every plan of the company and if you cancel your policy within that time, then the cancellation of policy will be free of cost. However, if you try to cancel your policy after that, then you will have to pay for the cancellation charges.
How can I contact the team of Liberty General Insurance Company?
You can connect with the team of Liberty General Insurance by calling at the toll free number 1800-266-5844 or by sending us an email on email@example.com. You can also visit your nearest branch of Liberty General Insurance in case you need any help.