Insurance in india

1. INSURANCE

2. Meaning of insurance
An arrangement by which a company or the
undertakes to provide a guarantee of compensation
for specified loss, damage, illness, or death in return
for payment of a specified premium.

3. Name of insurance companies
Insurance companies
Bajaj Allinz
General
Insurance CO
.LTD
SBI
INSURABCE
HDFC
INSURANCE

4. Bajaj Allianz General co.LTD
• Among the private insurance players in Indian insurance
domain, Bajaj Allianz is one of the largest general
insurance companies in the country.
• A large number of industry experts reveal that Bajaj
Allianz Auto Insurance leads all the auto insurance
players in terms of customer satisfaction, cashless claim
settlement and features rich policies. The brand is also
widely recognized as one of the most customer friendly
insurance companies in India

5. HISTORY
• Bajaj Allianz General Insurance received an Insurance
Regulatory and Development Authority of India (IRDAI)
certificate of registration on 2 May 2001 to conduct general
insurance business, including health insurance, in India. In the
first year of its operations the company had 36 offices and
around 100 employees. The company started its operations
with a paid up capital of 1.10 billion. Bajaj Finserv Limited
holds 74% and the remaining 26% is held by Allianz SE. Bajaj
Allianz is headquartered in Pune with offices in over 200 cities
in India and more than 3,500 employees as of 2018.
• The Company lists 97 filed and approved products, of which 27
are health products.
• In January 2014, the company announced it would open up all-
women branches. As of 2015, the company has 30 such
branches in India.

6. ABOUT YHE COMPANY
• Industry Insurance
• Founded 2001; 17 years agoHeadquarters
Pune, India Area served
• Worldwide Key ; people
• Tapan Singhel (MD and CEO)ProductsMotor Insurance,
Health Insurance, Travel Insurance, Home Insurance,
Marine InsuranceRevenueINR 59 billion (FY 2015-
2016) Net income
• ₹6 billion (US$87 million)ParentBajaj Finserv, Allianz SE
Websitewww.bajajallianz.

7. Achievements
• For the 11thconsecutive year, Bajaj Allianz General Insurance has
received iAAA rating from ICRA, indicating the highest claims
paying ability and a fundamentally strong position in the industry.
The first accreditation was received in 2005-06 and the company
has maintained this rating since then. The Company has
embraced digitalization as a primary enabler and has been
working continuously on automation and digitization of its
service offerings. It offers real time solutions to its customers and
partner via mobile applications and dedicated portals.
The industry first initiatives by the company like cashless claim
settlements, in-house health management team
(HAT) and image based policy as well as claim
processing, digital offices and mobile applications such as Eezee
Tab and Insurance Wallet have set a benchmark in the industry. It
is the first insurance company in the country to lay the
foundation for usage based insurance through its telematics
offering, Drive Smart.
•

8. SBI INSURANCE
• SBI Life - Saral Swadhan +: This particular plans is an
Individual, non-linked, non-participating, term assurance
that provides life insurance as well as guaranteed benefit
of maturity. The policy is for a period of 10 years
minimum, with the sum assured being in the range of Rs.
30, 000 to Rs. 4, 75, 000.

9. PLANS OF SBI INSURANCE
• SBI Life – eShield. SBI Life – eShield is an individual,
non-linked, non-participating pure term plan with
customized benefits for those who want the best financial
protection at affordable rates. ...
• SBI Life – Smart Money Planner. ...
• SBI Life – Smart Humsafar. ...
• SBI Life – CSC Saral Sanchay. ...
• SBI Life – Smart Power.

10. CEO OF SBI
• Rajnish Kumar to replace Arundhati Bhattacharya as
SBI chief next week. MUMBAI: State Bank of India
managing director Rajnish Kumar will succeedArundhati
Bhattacharya as chairman of the country's largest bank.

11. SBI 5 YEAR POLLICY
• 5 Year Term Life Insurance. Because of it's low
premium costs the 5 year term life insurance policy is one
of the easiest policies to understand. It maintains
aguaranteed level premium for 5 years. With many
companies, if you don't convert this policy, you will have
no more insurance after the 5 year period has passed ...

12. HDFC INSURANCE
• It is a joint venture between Housing Development
Finance Corporation Ltd (HDFC), one of India's leading
housing finance institution and Standard Life Aberdeen
PLC, leading well known provider of financial savings &
investments services in the United Kingdom.

13. • A life insurance policy is a contract with
an insurance company. In exchange for premium
payments, the insurance company provides a lump-sum
payment, known as a death benefit, to beneficiaries upon
the insured's death. Typically, life insurance is chosen
based on the needs and goals of the owner.

14. FOUNDER OF HDFC
• HDFC Standard Life appointed Mr. Amitabh
Chaudhry as its Managing Director and CEO

15. CHAIRMAN
• Deepak S Parekh
• Mr. Deepak S Parekh. Mr. Deepak Parekh is a Nominee
Director and the Chairman of our Company. He has been
on our Board since August 2000. He is also the chairman
of our Promoter i.e., HDFC.

16. OWNER
• Aditya Puri
• HDFC Bank's managing director, Aditya Puri, continues
to remain the highest paid banking chief in the country,
despite taking a lower increment than some counterparts
during 2012-13.May 31, 2013