IFFCO Tokio General Insurance Company
IFFCO Tokio General Insurance Company Overview
IFFCO Tokio General Insurance Company Limited was established in the year 2000 as a joint venture that was held between the Indian Farmers Fertiliser Cooperative Limited (IFFCO), which is the world’s largest fertilizer manufacturer, and Tokio Marine Group, which is one of the largest insurance groups in Japan. IFFCO holds 51 percent in the general insurance company, while the remaining 49 percent is acquired by Tokio Marine Group.
IFFCO Tokio General Insurance is dedicated to being an insurance firm and a widely recognised brand which constantly achieves its goals of performance and delivery with a vision to be the leader in the insurance industry by providing customer satisfaction through their fair activities, transparent processes and rapid response. The company wishes to win the trust of individuals, industry and commerce, corporates, cooperatives as well as international investors in India.
IFFCO Tokio General Insurance Company Statistics
IFFCO Tokio General Insurance company provides a comprehensive product range which comprise Car Insurance, Two-wheeler Insurance, Health Insurance, Travel Insurance and Home Insurance along with corporate insurance plans like property insurance and liability insurance. The IFFCO Tokio is the first company in the nation which started to underwrite mega policies. The comprehensive insurance policies of the company are based on the international rates and optimizes the premium outflow for even customers as it offers a one-stop solution to cover all types of risks.
The insurance policies of the company can be purchased from more than 20,000 agents and branches which have a wide presence across the nation. IFFCO Tokio General Insurance has a strong network of offices, branches, and employees throughout the country which it managed to develop a strong market leadership by giving prompt and perfect claim processes. Here are some significant statistical figures acquired by the general insurance company:
Claim Settlement Ratio
IFFCO Tokio General Insurance Company Financials
IFFCO Tokio General Insurance has achieved a GWP of Rs. 8,070 crores in the financial year 2019-20, which is an increase of Rs. 1,000 crores of premium over 2018-19. In addition to this, there is a significant increase in the net premium from Rs. 4,188 crores in 2018-19 to Rs. 4,741 crores in 2019-20. The Profit Before Tax (PBT) for the year is Rs. 268 crores as compared to Rs. 235 crores of PBT earned in the previous year and the Profit After Tax (PAT) for the year is Rs. 205 crores against Rs. 179 crores in the previous financial year. There is an increase of Rs. 26 crores of PAT in 2019-20 as compared to last year.
Why Should You Choose IFFCO Tokio General Insurance?
IFFCO Tokio General Insurance brings a lot of benefits for its policyholders that they get with its insurance plans. Here are some significant factors that denotes the benefits of purchasing an IFFCO Tokio insurance plan:
- High Claim Settlement Ratio – The company provides a quick claim settlement facility with which it manages to settle the insurance claims seamlessly within a few minutes. This efficient process of claim settlement has made the company to settle a total of 8.61 lakh claims in the financial year 2018-19 and attain a claim settlement ratio of 92.66%.
- Trusted Insurance Brand – IFFCO Tokio has been serving the customers for 19 years by providing a wide range of insurance policies for different types of categories like car insurance, bike insurance, travel insurance, health insurance home insurance and commercial insurance. It is widely recognised for its products, services and performance.
- Easy Renewal Process – The renewal process of the general insurance company is quite smooth. It just takes you to fill up some entries like vehicle registration number, policy number, name, mobile number and email address to get your policy renewed online. The procedure will help you continue to avail the insurance policy for a longer period of time.
- Online Claim System – From registering an insurance claim to checking the claim status and getting the answers to all the claims related questions, everything can be done online with IFFCO Tokio General Insurance. The company offers complete claim related information online which includes claim procedure, list of cashless facilities and so on.
- Extensive Cashless Network – The general insurance company tends to provide cashless insurance facilities in more than 5,000 hospitals and above 4,300 garages, which are evenly spread across the country. It increases the possibility for policyholders to find a garage or hospital nearby at the time of an emergency.
Awards and Achievements of IFFCO Tokio General Insurance Company Limited
IFFCO Tokio General Insurance is widely praised for its customer-centric solutions and innovative insurance products at different platforms. Some esteemed awards and achievements bagged by the insurance firm are as follow:
- BFSI Digital Innovation Award
- Digital Insurer of the Year, 2019
- Product Innovator of the Year 2018
- Most Admired Company of the Year
- Best Healthcare Insurance Provider
- Asia's Top Most Influential Insurance Leaders Award
- SKOCH Order of Merit for Quick Claim Settlement (QCS) App
- 2019 Digital Transformer for India and 2019 Omni Experience Innovator for India
IFFCO Tokio General Insurance Product Portfolio
IFFCO Tokio Motor Insurance Policy
IFFCO Tokio Motor Insurance is segregated in different parts like car insurance cover, two-wheeler insurance cover, commercial vehicle insurance cover. Purchasing any of these policies will compensate the expenses incurred by your insured vehicle due to damage or loss caused by accident, theft, man made disasters like burglary, theft, accidental external damage, or natural calamities like flood, storm, lightning, earthquake, landslide, etc. The company holds more than 4,300 garages in its network that are 24/7 available to assist you during breakdowns and vehicle immobilization. In addition to these, you can also find various add-on covers to extend your policy coverage like zero depreciation, no claim bonus protection and so on.
IFFCO Tokio Health Insurance Policy
Our medical insurance plans cover hospital bills and all the expenses you might encounter before and after hospitalization. Along with this, we also cover dental, optical & physio on conditional basis with health insurance plans like individual health protector policy, family health protector policy, individual medishield policy, health protector plus policy, critical illness insurance policy, swasthya raksha bima policy and so on. The company offers protection from various medical costs and gives comprehensive coverage which includes pre-hospitalisation and post hospitalisation medical expenses, critical illness treatment costs, AYUSH treatments, health check-up charges, vaccination fees, daycare procedures, ambulance charges etc. The company owns a huge network of 5000+ network hospitals to make policyholders easily get cashless treatment without any hassle.
IFFCO Tokio Travel Insurance Policy
IFFCO Tokio Travel Insurance Plans are designed to provide you with comprehensive coverage to give financial protection from a range of unforeseen emergency situations which you might encounter on a trip abroad. The contingency condition may include lost baggage, a lost passport, trip cancellation, flight delays, medical expenses, and numerous other unfortunate events, which can occur while traveling overseas.
IFFCO Tokio Home Insurance Policy
IFFCO Tokio home insurance plans safeguards your adobe both inside and out, which means it covers the structure and belongings of your home. The home insurance policy will give protection from fire, lightning, robbery, riots and many more unfortunate events that could damage your home and your personal property. A home insurance policy will also cover expensive gadgets, home appliances, jewellery and other valuable belongings. However, you can also add some add-ons to enhance the coverage of your plan to cover your needs better.
IFFCO Tokio Commercial Insurance Policy
IFFCO-Tokio offers extensive coverage against a vast array of risks that may affect your business with its different insurance products like bank locker policy, trade insurance policy, business insurance policy, micro rural insurance policy and speciality insurance policy. The comprehensive cover is made to protect your Business and Employees from a wide range of risks. All these commercial insurance plans are available at affordable rates.
IFFCO Tokio General Insurance Distribution Network
IFFCO Tokio General Insurance has a wide presence in rural areas and Tier 2, 3 and 4 towns, too. It is the first private insurance company insurer to establish Bima Kendras, which are single-person operated centers, to increase insurance penetration in rural areas at the customer’s doorstep. With more than 17,000 employees and 20,000 agents the company is continuing to excel in its performance and offer impressive insurance plans to all their clients.
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IFFCO Tokio General Insurance FAQs
What is the period of General Insurance policies offered by IFFCO Tokio?
The tenure of general insurance contracts are for one year period only but in some cases multi-year policies are also available.
Can IFFCO General Insurance Company cancel my claim requests?
Yes, the general insurance company can reject any of your claims in different situations. Common reasons for which your insurance claim may be rejected are the expiration of the policy, not owning a valid driving license while driving, injuries due to self inflicted acts, if any claim is made for out of policy coverage benefit and so on.
Can I renew my IFFCO Tokio General Insurance Plan online?
Yes, you can easily renew any IFFCO Tokio General Insurance Policy online for different types of insurance categories by simply entering policy number, name, mobile number, email ID, etc.
What is the claim settlement ratio of IFFCO Tokio General Insurance Company?
How can I get in touch with IFFCO Tokio General Insurance Company?
You can get in touch with IFFCO Tokio General Insurance by calling at the toll free number 1800-103-5499 or by sending us an email on email@example.com. Also, you can visit your nearest branch of IFFCO Tokio General Insurance in case of any assistance.