New India General Insurance Company
New India Assurance Company Overview
New India Assurance Company Limited is a multinational general insurance company. The general insurance company has its headquarter in Mumbai, India, and has been the market leader in India for non-life business over the last 50 years. It got B++ Stable FSR Rating and BBB+ Stable ICR Outlook by AM BEST Company. The firm is also rated AAA/Stable by CRISIL since 2014, which signifies that the firm holds the highest degree of financial strength to honour its policyholder's obligations.
The company’s Indian operations range across all territories through 2,395 offices, including 476 DOs, 595 BOs, 26 DABs and 1257 Micro Offices. It functions in around 28 countries through direct branches, agency operations, subsidiary companies, representative offices and associates. In addition to this, the company is a co-promoter of Agricultural Insurance Company of India & GIC Housing Finance Ltd. For better operations, the organisation also indulged in co-promoting a common TPA in the health insurance support services with different government owned insurance companies.
New India Assurance Company Statistics
New India Assurance offers an all-inclusive range of insurance products which include motor insurance, health insurance, travel insurance, rural insurance, marine insurance, office protection, machinery insurance and so on. The firm runs with 16,795 employees and 68,389 tied agents across the country who are committed to deliver insurance solutions to the policyholders. The company owns over 250 insurance products to offer to its customers. New India Assurance Company has gained a few impressive numbers over the years which are as follow:
Claim Settlement Ratio
New India Assurance Company Financial
New India Assurance Company is one of the leading general insurance providers in India with Gross Written Premium (GWP) of Rs. 26,813 crore and Net Written Premium (NWP) of Rs. 24,487 crore for financial year 2020. Also, the general insurance company managed to gain a global net profit of 144% for the financial year 2019-20.
Why Should You Choose New India Assurance Company?
New India Assurance Company offers huge benefits to its policyholders with its offerings and performances. Below are some advantages that you can avail by using its plans:
- Quick Renewal Process – With New India Assurance Company, you can renew your insurance policy online simply by making the payment of premium using a credit card or debit card or net banking without even visiting the branch. To renew your policy, you just have to enter your Customer ID and Old Policy Number. This will take you to policy details where you can finalise your policy quote as per your needs and make the payment. After this you will receive the policy document directly in your inbox.
- Live Chat Option – No matter which insurance policy you own, with the live chat option available at the New India Assurance Company’s website you can easily contact the support team. By entering your name, email and phone number with your query, you can directly put your concern before the customer care team. After this, you will be contacted by someone from the team to help in resolving your issue.
- Wide Network of Hospitals and Garages – New India Assurance Company holds a strong network of 1,280+ cashless garages and 1,200+ cashless hospitals. This network of garages and hospitals helps the customers in finding medical and repair assistance nearby anywhere across the nation and get the cashless services without investing anything from their pockets during the emergency.
- Extensive Range of Products – The general insurance company provides several products at affordable rates to its customers. New India Assurance Company gives its policyholders products such as motor insurance, health insurance, travel insurance, rural insurance, marine insurance, householder insurance and so on. The firm is widely appreciated for the variety and quality of its products and services.
- 24x7 customer service - You can connect with the support staff of New India Assurance Company 24/7 by calling at the toll-free number 1800-209-1415 or by mailing the team at the official email ID email@example.com to get responsive customer care support. It is a great benefit for the policyholders of the company with which they can get the solutions for their queries anytime and from anywhere.
Awards and Achievements of New India Assurance Company Limited
The New India Assurance Company has bagged several coveted awards with its exceptional performances since its establishment. Some of its awards are as follow:
- Fintelekt Insurance Awards 2017
- Outlook Money Gold Award 2018-19
- Best General Insurance Company at BFSI Awards 2017
- BT-MT Award for General Insurance Provider of the year
- Skoch Challenger Award for Segment Leadership & Digital Inclusion
New India Assurance Company Product Portfolio
New India Motor Insurance Policy
According to the Indian Motor Tariff, it is a compulsion to own at least a liability only insurance cover while driving a vehicle on the road. Apart from this mandatory policy, the New India Assurance Company offers several other insurance covers like own-damage insurance plan, comprehensive insurance cover and commercial vehicle insurance policy to secure the vehicles of policyholders against the expenses arising out of accidental damages, theft or burglary, injuries or death, man-made and natural calamities, etc. The general insurance company gives the coverage for private cars, commercial vehicles and two-wheelers at the most affordable prices to its customers.
New India Health Insurance Policy
New India Assurance Company offers health insurance solutions to its policyholders with different insurance plans. The policies of the company gives coverage to policyholders against the healthcare expenses including hospitalisation, medication, treatment, ambulance charges, room rent, and so on, arising due to any medical emergency. The general insurance cover provides different insurance plans to give specific medical insurance solutions to individuals, families, senior citizens, corporates and so on. Some of the company’s health insurance plans are New India Mediclaim Policy, New India Flexi Floater Mediclaim Policy, New India Flexi Group Mediclaim Policy, Senior Citizen Mediclaim, Cancer Medical Expenses and so on.
New India Travel Insurance Policy
New India Assurance Company provides travel insurance for policyholders under which it provides coverage for medical expenses incurred by the insured persons, outside India as a direct result of bodily injuries caused or sickness or disease contracted during their travel. The travel plans of the company are fit for frequent corporate travelers, students studying abroad, and overseas travellers. There are basically two travel policies available under the company’s offerings which include Overseas Mediclaim Insurance Policy for Business and Holidays and Overseas Mediclaim for Employment and Studies.
New India Marine Insurance Policy
New India Marine Insurance specific plans are issued to cover a specific single transit. Different insurance plans work differently. One of its insurance cover will end as soon as arrival of cargo at destination while the other is granted only on goods imported to India. The marine insurance offers a cover for projects under construction where the coverage is offered for financial consequences of a project delay due to the occurrence of a material damage event to critical equipment during shipment.
New India Rural Insurance Policy
Any insurance cover designed for companies or individuals living in rural areas or with some practices and lifestyles from rural areas are known as rural insurance. The rural insurance cover provided by New India Assurance focuses on providing the best policies to the people living in rural areas to make them avail the benefits of security offered by the insurance. The New India Assurance Rural Insurance plans are made for multiple purposes such as failed well insurance, calf heifer insurance, group gramin insurance, pump set insurance, farmers asset insurance and so on.
New India House Holder Insurance Policy
New India Property Insurance Policy gives coverage for buildings where it covers contents of the dwelling belonging to the proposer and his or her family members permanently residing with him or her against fire & allied perils, burglary, house breaking, breakdown of domestic appliances, loss or damage to jewellery and valuables, personal accident etc. This is a bundled policy designed to suit the insurance needs of a householder by offering different benefits under a single insurance policy. Discount on the amount of premium is given based on the number of sections of the insurance policy, opted for or by the proposer.
New India Assurance Company Distribution Network
Today, with a strong network of 2,472 offices, online portals, various distribution channels, strong sales force and presence in 28 countries, the company has it’s reach to the customers across geographies and continually is increasing the same. The general insurance company has a competent workforce of around 18,000 employees and continues to recruit new agents and secure business from other new intermediaries & business channels too. Also, the general insurance company holds a network of 1,280+ cashless garages and 1,200+ cashless hospitals with which it boasts to deliver prompt repair and medical services to its customers anywhere in India.
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New India General Insurance FAQs
What type of insurance policies are offered by New India Assurance Company?
Different types of insurance plans available under the New India Assurance Company such as motor insurance, health insurance, travel insurance, home insurance, rural insurance, marine insurance and office insurance.
Will I get tax benefits on buying a health plan from New India Assurance Company?
Yes, you will get the tax deduction on the premium amount of the health insurance policy provided by the New India Assurance Company. The tax benefit will be offered under the section 80D of the Income Tax Act, 1961.
Can I cancel a New India Assurance policy after making its purchase?
Yes, you can cancel a New India Assurance policy without paying for the cancellation charge within 15 days of purchase which is given as the free-look period. However, if you try to cancel the insurance plan after the free-look period, then you will have to pay for the cancelation charges and your premium amount will be refunded after deducting those charges.
Can I purchase the insurance policy of New India Assurance online?
Yes, you can easily buy any type of insurance plan offered by the New India Assurance through online mode from its official website.
How to connect with the team of New India Assurance Company?
You can get in touch with the staff of New India Assurance Company through our toll free number 1800-209-1415 or by mailing your queries to firstname.lastname@example.org. Also, you can visit any of the company's branches for any insurance related assistance.