Shriram General Insurance Company
Shriram General Insurance Company Overview
Shriram General Insurance Company was established in 1974. It is a joint venture between Shriram Capital Ltd. and Sanlam Limited (South Africa). The general insurance company got the license from IRDAI (Insurance Regulatory and Development Authority of India) and became the preferred insurance partner of IRCTC. The business philosophy of Shriram General Insurance is to render its services to the largest number of common people.
The General Insurance Company continues to focus on addressing the needs of its customers, nurturing talent and bringing a home grown technology platform to deliver to the underprivileged segments of the nation. This approach of the company has ensured its strong growth & sustainability for more than 3 decades. To achieve its mission, the company is constantly giving special attention to the innovative products and application of latest IT developments in its operations. It has expedited the company’s processes and improved the customer satisfaction to a great level.
Shriram General Insurance Company Statistics
Shriram General Insurance offers a wide range of general insurance solutions including Motor Insurance, Travel Insurance, Home Insurance, Fire Insurance, Liability Only Insurance, Marine Insurance, Engineering Insurance, Rural Insurance and more that are designed to fit every need, every minute and every situation. All the insurance solutions offered by the general insurance company are affordable and inclusive risk cover, due to which they get widely acknowledged by the customers.
The general insurance company holds its presence in 209 locations across the nation,, where more than 60,000 dedicated professionals with whom the company has been able to serve more than 12 million customers till today. These excellent numbers have led the firm to become the fastest growing multi-line and the first choice general insurance company of India. However, such exceptional figures are attained by the company with a huge network of more than 2,000 network garages across the nation developed to provide instant assistance to its policyholders.
Shriram General Insurance Company Financials
The Gross Written Premium for the financial year 2019-20 was registered Rs. 2466 crore against Rs. 2356 crore for the financial year 2018-19. During the year, company maintained its prime focus towards the settlement of Motor Third Party Claims and settled around 15,000 claim insurance cases. The profit after tax of the general insurance company increased from Rs. 663 crores to Rs. 741 crores.
Why Should You Choose Shriram General Insurance?
Shriram General Insurance is stuffed with a range of benefits that policyholders get with its insurance policies. Here are a few points which signifies the advantages to buying an insurance plan from Shriram General Insurance:
- Quick Renewal Process – The renewal process offered by the Shriram General Insurance is quick, simple and online. To renew an insurance policy, you just have to enter your policy number to proceed. After that, pay for the policy after making necessary changes in it.
- Easy Claim Procedure – Shriram General Insurance aims to respond quickly to your needs and to handle your claim in a prompt and hassle-free manner. The online claim process of the company includes claim registration, tracking claim status, uploading documents, etc.
- 24x7 Customer Assistance – The customer support team of the general insurance company is always ready to serve you and provide you assistance in the time of emergency. You can just call the toll free number of the company at 1800-300-30000.
Awards and Achievements of Shriram General Insurance Company Limited
Shriram General Insurance has been consistently appreciated for its user-centric approach and innovative insurance solutions at different award forums. Some major awards and recognitions of the general insurance company are:
- Excellence in Growth Award 2012
- CELENET India Insurance Awards 2011
- Amiable Insurer in the Non-Life Insurance 2018
Shriram General Insurance Product Portfolio
Shriram Car Insurance Policy
Shriram Car Insurance Plan provides your compensation for your car against the compulsory third party liability as well as against the damages and losses incurred by your car due to accident, theft, fire, burglary, riots, earthquakes, flood, cyclones, and terrorist activities. In addition to these, the general insurance company offers unique and affordable add-on covers to make you avail the enhanced coverage and protection. The car insurance add-on covers include zero depreciation cover, return to invoice, key replacement, roadside assistance and so on.
Shriram Two-Wheeler Insurance Policy
Shriram General Insurance provides a comprehensive two-wheeler insurance cover, which includes cover for third party liability, own-damage expenses, and compulsory personal accidental coverage. The coverage is offered against any loss or damage which can be accidents, thefts, natural calamities like lightning, earthquake, flood, typhoon, etc., and man-made disasters like burglary, riot, strike, terrorist act, etc., along with the third party liability coverage. The coverage of a two-wheeler insurance plan can be enhanced with add-on covers, zero depreciation cover, roadside assistance, return to invoice, and so on.
Shriram Commercial Vehicle Insurance
A commercial vehicle is not just a high value asset but also a valued possession. Hence, it is crucial to secure your valuable possession with an insurance plan. With Shriram Commercial Vehicle comprehensive policy you can get coverage against the mandatory third party liability as well as against the damages and losses sustained by your vehicle due to accidents, fire, theft, riots, earthquakes, flood, cyclones, malicious acts and terrorist activities.
Shriram Home Insurance Policy
Shriram Home Insurance gives coverage for loss and damage to your house along with the contents of the house. It is an agreement between the homeowner and insurance company, where the insured person or policyholder promises to pay a fixed amount of premium to get covered against unforeseen losses defined by the insurer which may include fire, earthquakes, lightning, floods, theft, burglary, lawsuit and so on. The company offers some add-on covers which can help you enhance the coverage of your home insurance plan like terrorism, loss of rent clause, forest fire, etc.
Shriram Travel Insurance Policy
Travel insurance plan offered by the Shriram General Insurance provides cover for your overall trip wherever you go globally. It is designed to suit the requirements of an individual who has undertaken overseas travel insurance policy for the purpose of leisure holiday or business. It saves you from different types of damages or mishappenings which might occur during the trip such as loss of baggage, medical expenses, loss of passport, trip cancellation, personal accident, and so on. There are three travel insurance plans offered by the company, which the customers can choose as per their needs includes Shri Travel Insurance, Shri Travel Plus Insurance and Shri Travel Elite Insurance.
In addition to these, Shriram General Insurance provides some other insurance plans like Fire Insurance Plan, Engineering Insurance Plan, Marine Insurance, Liability Insurance, Burglary Insurance Plan, Business Protector Plan, Shopkeeper Umbrella Package Insurance and so on.
Shriram General Insurance Company Distribution Network
The company has developed a multi-channel distribution mechanism to provide various types of insurance to their policyholders in the country. It has also strengthened its retail business by increasing the agency force from 17,543 agents to 26,310 agents. Five regional rural banks and nine co-operative banks are corporate agents of your company. During the financial year 2019-20, the company has crossed 26,300 insurance agents for selling its products and provided an online sale platform through Web and mobile App with which it was able to generate more than 17 lakh e-policies.
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Shriram General Insurance Company FAQs
Can I buy a policy from Shriram General Insurance online? What will be its benefits?
Yes, you can buy insurance plans of Shriram General Insurance online. It will take you to enter your basic details, select a policy quote, fill up additional information and pay for the policy. It will help you find your insurance policy instantly without getting involved in any paperwork.
Is there any online renewal option at Shriram General Insurance?
Yes, the Shriram General Insurance offers a quick renewal facility where you can renew your insurance policy online by filling up the policy number of your existing insurance plan and paying for it.
What are the payment modes available to buy a plan from Shriram General Insurance?
Multiple payment options via Cheque, Credit Card, Debit Card or Net Banking. As per comfort you can make the payments accordingly. The company also offers payment services through other means like Cash Cards, Mobile Payment solutions etc.
Can I cancel a policy of Shriram General Insurance after purchasing it?
Yes, you can cancel any insurance plan after buying it. If you cancel the policy within a free look period of 15 days, then you can get it cancelled for free, otherwise you will have to pay for cancellation charges. To cancel a policy you can either call 1800-300-30000 or visit the nearest branch.
How can I contact the Shriram General Insurance Company?
You can connect with the team of Shriram General Insurance by calling at 1800-300-30000 or 1800-103-3009. You can also visit the nearest branch for any sort of assistance.