HDFC ERGO General Insurance Company
HDFC ERGO General Insurance Overview
HDFC ERGO General Insurance Company Ltd. is a joint venture between HDFC Ltd., which is India’s premier Housing Finance Institution and ERGO International AG, which is a primary insurance entity of Munich Re Group. ERGO International AG is part of the Munich Re group which is a leading reinsurers and risk carriers. At present, ERGO is in more than 30 countries which are spread across Europe and Asia to serve over 40 million customers
The HDFC ERGO insurance company provides different general insurance products such as Motor Insurance, Health Insurance, Travel Insurance, Home Insurance and Personal Accident Insurance in the retail space as well as some customised products like Property Insurance, Marine Insurance and Liability Insurance in the corporate space. HDFC ERGO General Insurance offers its services in 113 cities with 127 branch offices and holds a vast product portfolio designed to cater the needs of the customers.
HDFC ERGO General Insurance Statistics
HDFC ERGO General Insurance Company Limited offers insurance solutions for various sectors including Health Insurance, Travel Insurance, Motor Insurance, Personal Accident Insurance and Home Insurance. The insurer also provides personalised insurance products like marine insurance, property insurance and liability insurance in around 113 cities in the nation.
The insurance provider has served more than 5 million plans. The gross premium growth of the company for the last 5 years is 20%. HDFC ERGO General Insurance Company was recognised with the iAAA rating for its ability to settle claim requests. The insurer has a strong market presence and is appreciated for settling all insurance claim requests made by the customers. Here are some remarkable figures owned by the company:
Claim Settlement Ratio
HDFC ERGO General Insurance Company Financial
HDFC ERGO General Insurance is the third largest general insurance provider in India with Gross Written Premium (GWP) of Rs. 8,722 crore and Net Written Premium (NWP) of Rs. 4,373 crore for financial year 2019. In addition to this, the company managed to secure a handsome market share of 5.1% as at March 31, 2019. The HDFC ERGO General Insurance holds different features such as online, and much more.
Why Should You Choose HDFC ERGO General Insurance?
There are many reasons to select a HDFC ERGO general insurance policy. Some major benefits are as follow:
- 1 Crore+ Customers – HDFC ERGO General Insurance Company acquires more than 1 crore trusted policyholders. The general insurance company regularly works to build the insurance industry simpler, reliable and cost-efficient to its customers. The HDFC ERGO General Insurance company keeps the promises, settles the claims, and satisfies the customers with the utmost dedication.
- 24x7 Customer Support – The general insurance company comprehends the value of immediate assistance at the time of distress or any emergency. The customer support team of the company and in-house claim department of the firm are available to offer 24X7 support to customers for streamlining the insurance services and providing hassle-free claim settlement experience. The insurance company promises to always be with its customers every time of need.
- Claim Settlement Process – The claim settlement process of HDFC ERGO General Insurance is transparent and they settle the insurance claims of the customer with utmost ease and speed. The company holds many expert professionals to deal with the claim process to ensure a hassle free process of claim settlement. This feature of the company has led it to gain an impressive claim settlement ratio of 94% for motor insurance and 83% for health insurance.
- Caters the needs of Customers - The HDFC ERGO General Insurance has been committed to serve its customers in the best manner for the past 16 years without any fail. The company has been providing a wide range of general insurance products to cater the requirements of the customers with several rider benefits and services at affordable rates.
- Easy Renewal Process – When it comes to the renewal of any general insurance policy such as health insurance plan, motor insurance policy, travel insurance policy, home insurance plan and so on, all the covers can be renewed in just 3 simple steps which starts from entering the policy number, mobile number or email address. This is a huge benefit which brings peace of mind for customers.
Awards and Achievements of HDFC ERGO General Insurance Company Limited
The HDFC ERGO General Insurance has bagged several awards and recognitions over the years by delivering excellent insurance services. Here is the list of some of its awards and achievements:
- Best Employer Brand Award
- iAAA Rating and ISO Certification
- Gold Shield ICAI Awards 2012-2013
- Best General Insurance Company in India 2014
- ICAI Awards for excellence in financial reporting
- Best Insurance Company in Private Sector - General 2014
- CMS Outstanding Affiliate World Class Service Award 2015
- SKOCH Order-of-Merit for Claims Survey Management (CMS)
- Best Customer Experience Award of the Year (Financial Sector)
- Best Investor Education & Category Enhancement – Insurance 2012
HDFC ERGO General Insurance Product Portfolio
HDFC ERGO Car Insurance Policy
The HDFC ERGO car insurance plans help you to protect yourself against damage or loss incurred by your car in different situations such as accident, fire, theft, earthquake, and so on. It also provides insurance coverage for the financial liability which arises out of third party injury and property damage.
- HDFC ERGO Third Party Insurance Policy - The third-party liability insurance covers legal liabilities arising from injuries to the third party or damages sustained by third parties with the involvement of the insured vehicle. The policy is available for both private and commercial vehicle insurance.
- HDFC ERGO Private Car Insurance Policy - The Private Car Insurance plan is a financial security to shield your car against damages, theft, natural disasters and man-made disaster. The plan also comprise a third party liability that offers coverage claims by the third party when the insured car damages another person's property.
- HDFC ERGO Commercial Vehicles Insurance Policy - This plan provides insurance to a vast range of commercial vehicles to protect your cab or taxi related businesses from financial loss due to accidents or damage incurred by the vehicles. It also provides the coverage for financial and legal liability towards third parties for personal injury, death and property damage in case of an accident involving the insured vehicle.
HDFC ERGO Two-Wheeler Insurance Policy
Life becomes uncertain when you are riding on the roads. Any accident or mishap can take place anytime and its damage expense may not be easy for you to afford. On this note, a two-wheeler insurance policy must not be considered as a burden, but as a necessity. Buying a two-wheeler insurance plan can reduce the level of your stress, if you get into an unwanted condition.
As you know that to own at least the third party two-wheeler insurance cover is compulsory according to the law, hence, a policy also brings peace of mind. HDFC ERGO General Insurance provides two types of insurance products such as two-wheeler liability only policy and two-wheeler comprehensive insurance policy for one year as well as multiyear.
HDFC ERGO Health Insurance Policy
When it comes to healthcare expenses, it is soaring every single day and no signs of reduction is visible in the near future. It means that without a sufficient health insurance cover, it could become quite impossible for anyone to bear the expenses of unforeseen illness as you might have to spend a huge portion of your savings which may lead you to a financial emergency.
HDFC ERGO health insurance plans are designed to assist you in overcoming the financial crunches arising due to medical contingency by offering a cost-efficient comprehensive health insurance cover. There are different types of health insurance plans provided by the HDFC ERGO health insurance for individuals, families, senior citizens, parents, women, critical illness, and top-up plans. Some of the health insurance plans are my:health Suraksha Silver Smart, my:health Suraksha Gold Smart, my:health Suraksha Platinum Smart, Suraksha Top-up Policy, Critical Illness Policy, my:health Woman Suraksha, my:health Women Suraksha Cancer Plan, and so on.
HDFC ERGO Home Insurance Plans
With HDFC ERGO Home Insurance, the company offers you the benefit of cost-efficient insurance coverage for your personal property and possessions against different sorts of eventualities. The home insurance plan is meant to cover the superstructure and belongings inside your home for up to 5 years. The home insurance cover also gives protection against natural disasters like lightning, floods, storms, earthquakes etc., as well as against man-made calamities such as burglary, riots, theft, terrorism and so on. The HDFC ERGO Standard Fire and Special Perils Insurance is a comprehensive home insurance policy which promises to give overall protection to your property.
HDFC ERGO Travel Insurance Plans
HDFC ERGO General Insurance also assists you to explore more and enjoy your travel to the fullest with HDFC ERGO Travel Insurance Plan. It is a comprehensive travel insurance cover for business travel as well as leisure travel which offers various benefits such as cashless hospitalisation, 24x7 international helpline assistance, and instant issuance of insurance without going through any type of health check-up. This insurance plan offers coverage for medical expenses, loss due to damage or loss of luggage, trip cancellation charges, flight accidents, and similar expenses on overseas trips. This insurance cover is available on an individual and family floater basis.
Under the family floater policy offered by HDFC ERGO travel insurance plan, the coverage is provided to insured and his or her spouse of up to the age of 60 years, and a maximum of two children from the age of 3 months to 21 years. Another travel insurance plan offered by the HDFC ERGO general insurance is Student Suraksha Policy, which is a comprehensive overseas student travel insurance cover that is created for Indian students, between the age of 16 and 35 years, who are pursuing their studies abroad to ensure their financial protection in case of contingencies.
HDFC ERGO Commercial Insurance Plans
HDFC ERGO General Insurance Company Limited provides a wide range of commercial insurance services catering to business and corporate. Commercial organisations can select a commercial insurance plan from its different insurance policies as per their needs. Some commercial insurance policies are Casualty Insurance, Property and Misc Insurance, Speciality Insurance, Group Insurance, and so on.
HDFC ERGO Rural Insurance Policy
HDFC ERGO General Insurance Company offers affordable insurance solutions for rural customers which includes farmers, dairy owners, and tradesmen with Pradhan Mantri Fasal Bima Yojana, Cattle Insurance Cover, and Rainfall Index Insurance to compensate losses caused due to damage of crops, death of their cattle, weather vagaries and so on.
HDFC ERGO General Insurance Distribution Network
HDFC ERGO General Insurance holds a multi-channel network of distribution. Its insurance products can easily be accessed online through its official website and authentic insurance brokers and aggregators. The network of the general insurance company is vast and spreaded in almost 113 cities and many branches in various cities. The HDFC ERGO general insurance company is equipped with an extensive range of products to suit the insurance needs of individuals as well as companies. It has been indulged in stretching its presence across the nation and now functional in 113 cities with 127 branch offices with the strength of more than 3,600 employees.
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HDFC ERGO General Insurance FAQs
How can I check the claim status of a HDFC ERGO insurance policy?
You can check the claim status of your HDFC ERGO insurance plan at the claim status section on its official website. You just have to enter the policy number or mobile number or email Id to initiate the process. On entering the mobile number or email Id, you will receive an OTP for verification after which you can proceed to check your claim status.
How can I pay for the premium of HDFC ERGO insurance plan?
There are several payment modes available to pay the premium of HDFC ERGO insurance plan such as debit card, credit card, net banking, cash and cheque.
Can I renew my HDFC ERGO insurance policy online?
Yes, you can renew your insurance policy at the official website of HDFC ERGO general insurance by entering policy number, mobile number or email ID in just 3 simple steps.
How can I register a new insurance claim for HDFC ERGO insurance plan?
You can register a new insurance claim either on HDFC ERGO’s official website or by calling the customer care team or by using HDFC ERGO’s mobile app.
Can I cancel a HDFC ERGO insurance policy after purchasing it?
Yes, you can cancel a HDFC ERGO insurance cover free of cost within 15 days of purchase which is known as the free-look period. After that, you can do it by paying some cancelation charges which means that premium amount will be refunded after deducting the cancelation charges.