new india shkhvkhv

7/30/2019 new india shkhvkhv

1/37

Tolani Institute ofManagementStudies Page 1

A

PROJECT REPORT

ON

RISK MANAGEMENT

HOMEOWNERS INSURANCE @

NEW INDIA ASSURANCE

SUBMITTED BY:

GROUP-3

SURBHI GOYAL 12017

MAITRI THAKAR 12054

KEVAL THACKER 12050

SAGAR TANNA 12049

SUBMITTED TO:

Prof. PRATIBHA NAIR

PGDM PROGRAMME

(Batch: 20122014)

Tolani Institute of Management Studies


2/37


INDEX

Chapter no Name Page no

1. Introduction of assurance

2. New India Assurance co

3. Products

4. Various Products & plans

5. Analysis & Review


3/37


ASSURANCE

Introduction-

Assurance industry has always been a growth-oriented industry

globally. On the Indian scene too, the assurance industry has always

recorded noticeable growth vis--vis other Indian industries.

It is a system by which the losses suffered by a few are spread over

many, exposed to similar risks. Insurance is a protection against financial

loss arising on the happening of an unexpected event.

stablished by Sir Dorab Tata in 1919, New India is the first fully

Indian owned insurance company in India. Incorporated on July 23rd, 1919

Founded by the House of Tata Founder member - Sir Dorab Tata.Nationalised in 1973 with merger of Indian companies.

New India was a pioneer among the Indian Companies on various fronts,

right from insuring the first domestic airlines in 1946 to satellite insurance

in 1980. The latest addition to the list of firsts is the insurance of the

INSAT-2E.

With a wide range of policies New India has become one of the largest

non-life insurance companies, not only in India, but also in the Afro-Asian

region.


4/37


The new India assurance Co. Ltd. was the first general assurance

company to be established in India in 1850, which was a wholly British-

owned company. The new India assurance company to be set up by an

Indian was Indian Mercantile assurance Co. Ltd., which was established in

1907. There emerged many a assurance player on the Indian scene

thereafter. The general assurance business was nationalized after the

promulgation of General Insurance Business (Nationalization) Act, 1972.

The post-nationalization general assurance business was undertaken by the

assurance Corporation of India (GIC) and its 3 subsidiaries:

1. New India Assurance Company Limited

2. National Insurance Company Limited

3. United India Insurance Company Limited

Towards the end of 2000, the relation ceased to exist and the four

companies are, at present, operating as independent companies.


5/37


PROFILE

History Present Position

International Presence

Our Strengths

Pioneers

Citizens' Charter

History

Incorporated on July 23rd, 1919 Founded by the House of Tata Founder

member - Sir Dorab Tata. Nationalised in 1973 with merger of Indian

companies.

Present Position

Network of Offices-26 Regional Offices, 393 Divisional Offices, 614

Branches and 34 Direct Agent Branches. Rank No. 1 in the Indian market.

Largest Non-Life insurer in Afro-Asia excluding Japan. First Indian non-life

company to cross Rs. 5000 crores Gross Premium. Global Re-insurance

facilities. Over-seas presence in countries like Japan, U.K, Middle East, Fiji

and Australia.

International Presence

Overseas operations commenced in 1920. Operations in 24 countries in the

year 2004-05. Network of 19 Branches, 12 Agencies, 2 Associate companies

and 2 Subsidiary companies in the year 2004-05
http://www.newindia.co.in/about-company.asp#1http://www.newindia.co.in/about-company.asp#2http://www.newindia.co.in/about-company.asp#3http://www.newindia.co.in/about-company.asp#4http://www.newindia.co.in/about-company.asp#5http://www.newindia.co.in/about-company.asp#6http://www.newindia.co.in/about-company.asp#6http://www.newindia.co.in/about-company.asp#5http://www.newindia.co.in/about-company.asp#4http://www.newindia.co.in/about-company.asp#3http://www.newindia.co.in/about-company.asp#2http://www.newindia.co.in/about-company.asp#1


6/37


Our Strengths

Largest number of Offices - In India and Abroad Trained and technically

qualified staff 1068 fully computerised offices across India. "A-" (Excellent)

rating by A.M.Best & Co (Europe) First domestic company to be rated by an

International Rating Agency Rating based upon following factors: Superior

capital position Strong operating performance Strong market position Only

company to develop significant International operations, long record of

successful trading outside India.

Pioneers

First company to set up an Aviation Insurance Department in 1946. First company to handle the Hull Insurance requirements of the Indian

Shipping Fleet.

First company to establish its own Training School. First company to introduce the concept of 'Model Office Training'. First company to create department in Engineering insurance. Pioneer in Satellite insurance.


7/37


Citizens Charter

Our Mission

To develop general insurance business in the best interest of thecommunity.

To provide financial security to individuals, trade, commerce and allother segments of the society by offering insurance products and

services of high quality at affordable cost

Our Values

Highest priority to customer needs. High standards of public conduct. Transparency in operations.

Our Commitment to the citizens

We will respond to all commercially viable general insurancerequirements of the citizens, including products for weaker sections of

the society at affordable price within three months from the date on

which such a requirement is received.

We will ensure issuance of 100% of documents within a period ofseven days.

We will ensure that prospectus of the various insurance products areprovided to the customers and the extent of coverage is explained for

his choosing the appropriate product. A written proposal will be


8/37


obtained from the insured wherever necessary and accordingly the

policy will be prepared.

We will settle all claims within a time schedule envisaged hereunder:A. Personal life insurance claims within 30 days on completion of all

requirements.

B. Property claims within 30 days on completion of all requirements.

C. Liability claims within 30 days on completion of process of law.

We will promote customer education in general insuranceproducts/services by holding workshops in various centers.

We will open a customer service cell in all ROs/DOs in addition to theexisting 'May I Help You' counters.

We will set up proper grievance redressal mechanism in everyoperating office and will educate the clients about the same including

the system of grievance redressal thorough ombudsman.

On request to the policy issuing office, we will make available to acustomer, the status of his claim and/or claim settlement details within

seven working days.

We will adhere to the IRDA guidelines in protecting thepolicyholders' interest.

Al l the above services and commitments will be honoured without the

citizen having to pay any gratif ication/br ibe.

(This Citizens' Charter was adopted at the board meeting held on

31.12.2003)


9/37


The Indian assurance industry saw a new sun when the assurance

Development Authority invited the applications for registration as assurors

in August, 2000. With the liberalization and opening up of the sector to

private players, the industry has presented promising prospects for the

coming future. The transition has also resulted into introduction of ample

opportunities for the professionals including Chartered Accountants.

The Indian assurance industry is featured by the attributes:

Low market penetration;

Ever-growing middle class component in population.

Growth of consumer

Movement with an increasing demand for better assurance products;

Inadequate application of information technology for business.


10/37


STRUCTURE OF THE ASSURANCE INDUSTRY

The structure of the assurance industry comprises of the Operating

department, Administrative department and the finance department. The

Operating Department generally performs the basic functions pertaining to

the designing of products, marketing thereof, servicing the insured, the

insured, management of portfolio, etc.

The Administrative Department looks after the day-to-day affairs of

the company. The Finance Department backs the operations andadministration of the company by accounting for the transactions,

streamlining the flow of funds, materializing the management decisions, etc.

The Administration Department as well as the Finance Department,

usually, functions through in-house setup. The Finance Department

functions in the areas of accounting, financial and management reporting,

budgeting and controlling, etc. and thus renders enormous scope for finance

professionals.


11/37


BASIC FUNCTIONS OF THE ASSURANCE INDUSTRY

1. Risk Perception and Evaluation:

The fundamental function of an insurer is to provide a cover against

the loss caused to the insured due to the happening of certain specified and

agreed events. Thus, prior to providing such umbrella through a product, the

insurer has to assess the risk involved in the transaction. The perception of

risk requires the study of variables through various methods including the

application of scientific and statistical techniques and correlation thereof

with the industry or unit under study in light of their basic environmental

and infra-structural characteristics.

2. Designing the Insurance Product:

On the basis of the risks perceived, the insurer develops a product to cover

the stipulated risks. While designing an insurance product, an insurer

decides its cost to be charged from the insured in the form of premium,

reduction thereof in certain cases like not lodging any claim during the

previous covered period(s), suggesting the implementation of risk-mitigating

measures, etc.


12/37


3. Marketing of the Product:

The core function of the marketing force of an insurance company is

to generate awareness about the insurance products among the target market.

But in the Indian scenario, where the insurance penetration is too low as

compared to the other nations, the marketing force needs to perform the pro-

active role in developing an insurance culture. It is through the efficiency of

the sales force of an insurance company that the desirability and the success

of a product are determined. Further, the marketing personnel should be

adequately backed by the back-office setup.

4. Selling of the Products:

The term selling in the context of Assurance industry is the

issuance of policies to the applicant proposer.

5. Management of Portfolio:

The management of the portfolio includes the assessment of

requirement of funds, identification of various sources of finance, the

evaluation of the sources in the light of their cost, availability, timing, etc.,

reconciling the features of various sources with the needs of the company

and the selection of appropriate conjunction of sources. The insurer

possesses huge amount of funds, which need proper management. The

management of the portfolio of an insurance company requires the

identification of investment avenues, evaluation thereof and the selection of

the most appropriate mix of alternatives where the funds of the company can

be invested.


13/37


Non-Life Insurance companies

Public Sector

New India Assurance Co. Ltd. United India Insurance Co. Ltd. Oriental Insurance Co. Ltd. National Insurance Co. Ltd

Private Sector

ICICI Lombard General Insurance Co. Ltd. Reliance General Insurance Co. Ltd. IFFCO Tokyo General Insurance Co. Ltd. Bajaj Allianz General Insurance Co. Limited TATA AIG General Insurance Co. Limited Cholamandalam General Insurance Co. Ltd. HDFC General Insurance Co. Ltd. Royal Sundaram Alliance Insurance Co. Ltd.


14/37


KUTCH AND NEW INDIA ASSURANCE

26 Jan 2001 The devastating earthquake that hit the land of Kutch (Gujarat)

and nearby areas shook the many of homes and lives. No insurance companycan insure and return the non-financial losses that people of Kutch faced but

financial losses were covered well by insurance company to the people who

were having insurance. That time team of number of surveyor was send to

Kutch to different areas so that process of claim settlement can be quickly

served. New India assurance being part of government was able to recover

from this capital shock soon and was one of top player that served the people

to best that they can.

This was rise of homeowners insurance in this ZONE 5 earthquake prone

region of Kutch. Due to capital shock there was rise of premium initially

around 2001-2002 year. Following reasons were responsible for rise in

premium:

Earthquake prone Zone 5

Capital shock recover

Increase in risk probability

At present situation is stable with average premium price and industry is

growing and flourishing.


15/37



16/37


Intermediary

Brokers

Third Party Administrators (TPA)

Agents

Surveyors

New India has tied up with 18 TPAs
http://www.niacl.com/intermed-brokers.asphttp://www.niacl.com/intermed-brokers.asphttp://www.niacl.com/intermed-tpa.asphttp://www.niacl.com/intermed-tpa.asphttp://www.niacl.com/intermed-agents.asphttp://www.niacl.com/intermed-agents.asphttp://www.niacl.com/intermed-surveyors.asphttp://www.niacl.com/intermed-surveyors.asphttp://www.niacl.com/intermed-surveyors.asphttp://www.niacl.com/intermed-agents.asphttp://www.niacl.com/intermed-tpa.asphttp://www.niacl.com/intermed-brokers.asp


17/37


FINANCIAL RATING

For the sixth consecutive year, the Company has been rated as "A-"

(Excellent) by M/s. A.M. Best Europe Ltd. The rating reflects Company's

excellent risk adjusted capitalisation, prospective improvement in

underwriting performance and its leading business profile in the direct

insurance market in India. A partially off-setting factor is the Company's

reliance on investment income which counter balances underwriting losses.

But the outlook is stable. A.M. Best believes the Company's risk adjusted

capitalisation is excellent and anticipates that it will remain sufficient to

absorb the likely growth in the net premium. Further it also expects that

there will be a reduction in the combined ratio in the years to come. The

Company is likely to maintain its leading business position as the largest

direct insurer in India, despite increased competition from private players.
http://www.newindia.co.in/fin-rating.asphttp://www.newindia.co.in/fin-rating.asphttp://www.newindia.co.in/fin-rating.asphttp://www.newindia.co.in/fin-rating.asp


18/37


NIA-Indian Assurance Even In Japan

Japan is the 2nd largest non-life insurance market in the world, after the

USA. There are 32 Japanese companies and 21 foreign companies

operating in Japan. The market share of 21 foreign companies is just over4.5%. There is only one company that has kept the flag of the Indian and

Asian insurance industry high for more than 5 decades in the highly

competitive market- The New India Assurance Co. Ltd.

One of the major business operations of the company in Japan is to assist

the Indian office in procuring business emanating from Japanese

companies that undertake projects in India. New India Japan is approached

by not only Japanese companies but also by Japanese insurance companies

whose clients are in the process of acquiring interest in India, forguidance.

Its gross premium income in 2002-03 was Yen 3.8 billion (Rs.153 crore),

which was 15 percent higher than the previous year. The company made a

profit around Yen 40 million (Rs.1.64 crore) during the year, all this

despite a nearly zero growth and zero interest economy and continuing

recession in Japan.

New India writes all classes of traditional non-life insurance business andmore than 95% of its business is derived from Japanese clients through its

agents network.


19/37


PRODUCTS

PRODUCTS

PERSONAL

COMMERCI

AL

INDUSTRIA

L

SOCIAL


20/37


Commercial

Jewellers Block Policy

Bankers Indemnity Policy

Shopkeepers Policy

Marine Cargo Policy

Plate Glass Insurance

Special Contigency Policy

Neon Sign Insurance

Multi Peril Policy for L.P.G. Dealers

Fidelity Guarantee Insurance Policy

Marine Hull Policy

Aviation Insurance
http://www.niacl.com/comm-jewel.asphttp://www.niacl.com/comm-jewel.asphttp://www.niacl.com/comm-banker.asphttp://www.niacl.com/comm-banker.asphttp://www.niacl.com/comm-shop.asphttp://www.niacl.com/comm-shop.asphttp://www.niacl.com/comm-cargo.asphttp://www.niacl.com/comm-cargo.asphttp://www.niacl.com/comm-plate.asphttp://www.niacl.com/comm-plate.asphttp://www.niacl.com/comm-cont.asphttp://www.niacl.com/comm-cont.asphttp://www.niacl.com/comm-neon.asphttp://www.niacl.com/comm-neon.asphttp://www.niacl.com/comm-multi.asphttp://www.niacl.com/comm-multi.asphttp://www.niacl.com/comm-fidelity.asphttp://www.niacl.com/comm-fidelity.asphttp://www.niacl.com/comm-marine.asphttp://www.niacl.com/comm-marine.asphttp://www.niacl.com/comm-aviation.asphttp://www.niacl.com/comm-aviation.asphttp://www.niacl.com/comm-aviation.asphttp://www.niacl.com/comm-marine.asphttp://www.niacl.com/comm-fidelity.asphttp://www.niacl.com/comm-multi.asphttp://www.niacl.com/comm-neon.asphttp://www.niacl.com/comm-cont.asphttp://www.niacl.com/comm-plate.asphttp://www.niacl.com/comm-cargo.asphttp://www.niacl.com/comm-shop.asphttp://www.niacl.com/comm-banker.asphttp://www.niacl.com/comm-jewel.asp


21/37


Industrial

Fire Policy

Burglary Policy

Machinery Breakdown Policy

Electronics Equipment Policy

Consequential Loss Policy

Contractors All Risk Policy

Marine cum Erection / Storage cum Erection Policy

Advanced Loss of Profit / Delay in Startup Policy

Contractor Plant and Machinery Policy

Mega Package Policies

Liability

Public Liability Policy

Products Liability Policy

Professional Indemnity Policy

Directors and Officers Liability Policy

Lift (Third Party) Insurance
http://www.niacl.com/inds-fire.asphttp://www.niacl.com/inds-fire.asphttp://www.niacl.com/inds-burglary.asphttp://www.niacl.com/inds-burglary.asphttp://www.niacl.com/inds-machinery.asphttp://www.niacl.com/inds-machinery.asphttp://www.niacl.com/inds-electronics.asphttp://www.niacl.com/inds-electronics.asphttp://www.niacl.com/inds-cons.asphttp://www.niacl.com/inds-cons.asphttp://www.niacl.com/inds-contract.asphttp://www.niacl.com/inds-contract.asphttp://www.niacl.com/inds-marine.asphttp://www.niacl.com/inds-marine.asphttp://www.niacl.com/inds-advance.asphttp://www.niacl.com/inds-advance.asphttp://www.niacl.com/inds-plant.asphttp://www.niacl.com/inds-plant.asphttp://www.niacl.com/inds-mega.asphttp://www.niacl.com/inds-mega.asphttp://www.niacl.com/liab-pub.asphttp://www.niacl.com/liab-pub.asphttp://www.niacl.com/liab-prod.asphttp://www.niacl.com/liab-prod.asphttp://www.niacl.com/liab-prof.asphttp://www.niacl.com/liab-prof.asphttp://www.niacl.com/liab-director.asphttp://www.niacl.com/liab-director.asphttp://www.niacl.com/liab-lift.asphttp://www.niacl.com/liab-lift.asphttp://www.niacl.com/liab-lift.asphttp://www.niacl.com/liab-director.asphttp://www.niacl.com/liab-prof.asphttp://www.niacl.com/liab-prod.asphttp://www.niacl.com/liab-pub.asphttp://www.niacl.com/inds-mega.asphttp://www.niacl.com/inds-plant.asphttp://www.niacl.com/inds-advance.asphttp://www.niacl.com/inds-marine.asphttp://www.niacl.com/inds-contract.asphttp://www.niacl.com/inds-cons.asphttp://www.niacl.com/inds-electronics.asphttp://www.niacl.com/inds-machinery.asphttp://www.niacl.com/inds-burglary.asphttp://www.niacl.com/inds-fire.asp


22/37


Categories Of Products With Customer Segments In New India

Assurance

Employers' Liability Policy

Carrier's Liability Insurance

Liability Insurance Act Policy

Golfers Indemnity Insurance

Social

Universal Health Insurance Scheme

Jan Arogya Bima Policy

Raj Rajeshwari Mahila Kalyan Yojana

Bhagyashree Child Welfare Policy

Janata Personal Accident Insurance

Student Safety Insurance

Ashrya Bima Yojana

Rural Insurance
http://www.niacl.com/liab-employer.asphttp://www.niacl.com/liab-employer.asphttp://www.niacl.com/liab-carrier.asphttp://www.niacl.com/liab-carrier.asphttp://www.niacl.com/liab-insact.asphttp://www.niacl.com/liab-insact.asphttp://www.niacl.com/liab-golf.asphttp://www.niacl.com/liab-golf.asphttp://www.niacl.com/social-universal.asphttp://www.niacl.com/social-universal.asphttp://www.niacl.com/social-arogya.asphttp://www.niacl.com/social-arogya.asphttp://www.niacl.com/social-mahila.asphttp://www.niacl.com/social-mahila.asphttp://www.niacl.com/social-child.asphttp://www.niacl.com/social-child.asphttp://www.niacl.com/social-janata.asphttp://www.niacl.com/social-janata.asphttp://www.niacl.com/social-student.asphttp://www.niacl.com/social-student.asphttp://www.niacl.com/social-bima.asphttp://www.niacl.com/social-bima.asphttp://www.niacl.com/social-rural.asphttp://www.niacl.com/social-rural.asphttp://www.niacl.com/social-rural.asphttp://www.niacl.com/social-bima.asphttp://www.niacl.com/social-student.asphttp://www.niacl.com/social-janata.asphttp://www.niacl.com/social-child.asphttp://www.niacl.com/social-mahila.asphttp://www.niacl.com/social-arogya.asphttp://www.niacl.com/social-universal.asphttp://www.niacl.com/liab-golf.asphttp://www.niacl.com/liab-insact.asphttp://www.niacl.com/liab-carrier.asphttp://www.niacl.com/liab-employer.asp


23/37


Customer

segments

Personal Business Industrial Liability Social

Categories

of

Products

Accident

House

holders

Motor

policy

Money

insurance

Road Safety

TV/VCR/V

CP

Mobile

Jewelers

Shop

Marine

Aviation

Fire

Machine

breakdow

n

Burglary

Electronic

equipment

Public

liability

policy

Products

Directors

& Officers

Employers

Rural

Student

safety

Women

welfare

Child

welfare


24/37


PERSONAL

1. HOUSEHOLDERS POLICY

This is a package policy specially designed to meet the insurance

requirements of a householder.

Highlights

This is a package policy specially designed to meet the insurance

requirements of a householder by combining under a single policy, a number

of our standard policies usually taken by householders.

Discount in premium is offered depending upon the number of sections of

the policy, opted for, by the proposer.


25/37


Scope and Premium charges:

The policy comprises of 10 sections as given here under

Section I - Fire & Allied Perils (Premium: 0.65 per mile)

A - Coverage for building

B - Covers contents of the dwelling belonging to the proposer and his/her

family members permanently residing with him/her.

Allied Perils:

a. Fire, Lightening, Explosion of gas in domestic appliancesb. Bursting and overflowing of water tanks, apparatus or pipes.c. Damage caused by Aircraftd. Riot, Strike, Malicious or Terrorist Acte. Earthquake, Fire and/or Shock, subsidence and Landslide (including

Rockslide) damagef. Flood, Inundation, Storm, Tempest, Typhoon, Hurricane, Tomado or

Cyclone.

g. Impact damage


26/37


Section II - Burglary & House breaking including larceny and theft.

(Premium: 2.40 per mile)

Covers contents of the dwelling against loss due to burglary, house breaking,

larceny or theft.

Section III - All Risks (Jewellery & Valuables)


Covers loss or damage to your jewellery and valuables by accident or

misfortune whilst kept, worn or carried anywhere in India subject to the

value declared in the schedule.

Section IV - Plate Glass (Premium: 10.05 per mile)

Loss or damage to fixed plate glass in the insured premises by accidental

breakage subject to limit of sum insured

Section V - Breakdown of Domestic appliances


Covers domestic appliances against unforeseen and sudden physical damage

due to mechanical or electrical breakdown.


27/37


Section VI - T.V. Set including VCP/VCR (ALL RISKS)


Covers loss or damage to T.V.Set including VCP/VCR by fire and allied

perils, burglary, house breaking or theft, breakage due to accidental external

means, mechanical or electrical breakdown. Any legal liability arising out of

bodily injury or accidental death of any person other than insured's family

members or employee as also damage to property not belonging to or in the

custody of insured , caused by use of the T.V. Set is also covered upto a

limit of Rs.25,000/-.


28/37


How to claim

In case of any incident leading to a valid claim under the policy, following

steps should be taken:

1. Take necessary steps to minimize the loss/damage.2. In case of fire, inform fire brigade immediately.3. In case of theft, larceny or burglary inform the police immediately

along with a list of items stolen and their approximate value.

4. Inform insurance company by phone or fax and in writing.5. Extend full co-operation to the surveyor appointed by the insurance

Co. and provide necessary documents to the substantiate the loss. A

claim form issued by the company is also to be submitted.

6. In case any rights of recovery exist against any other party responsiblefor the loss, your rights of recovery have to be subrogated to the

insurance company on payment of claim.


29/37


Brands across the companies

Customer

segments

Personal Business/ industrial/

liability

Rural/ social

ICICI

Lombard

Motor Insurance:

Carinsurance

Twowheeler

insurance

Home insurance

Fire insurance:

Fire andspecial perils

policy

(material

damage)

ConsequentialLoss (Fire)

Insurance

Policy

Marine insurance:

Marine ImportTransit

InsurancePolicy

Marine ExportTransit

Insurance

Policy

Marine InlandTransitInsurance

Policy

Rural insurance:

Tractorinsurance

Weatherinsurance


30/37


New India

Assurance

Motor Insurance:

All type ofvehicle

Home insurance:

Householders policy

Fire insurance:

Fire policy(One policy

covering

destruction or

damage to insured

property)

Marine insurance:

Marine cumErection /

Storage cum

Erection Policy

Marine CargoPolicy

Rural insurance:

LiftIrrigation

Insurance

FarmersPackage

Insurance

Scheme

Reliance

General

Insurance

Motor Insurance:

Twowheeler

comprehensi

ve

Private carcomprehensi

ve

Home Insurance:

Reliancehome

protect

House

Fire insurance:

RelianceStandard Fire

and Special

Perils Policy

RelianceConsequential

Loss Policy

Marine insurance:

Reliance Marine

Cargo Insurance

Policy

N .A


31/37


holders

package


32/37


Distribution channel of companies

Custom

er

segments

Person

al

Busine

ss

NRI Rur

al

SME Industr

ial

Social

ICICI

Lomba

rd

Retail

Telesa

les

Online

Bank

Retail

Telesa

les

Online

bank

Retail

Telesa

les

Online

Bank

Ret

ail

Ban

k

New

India

Assura

nce

Retail

Telesa

les

Online

Bank

Retail

Telesa

les

Online

Bank

Retail

Telesal

es

Online

Bank

Retail

Telesa

les

Online

Bank

Relianc

e

General

Insuran

ce

Retail

Telesa

les

Online

Bank

Retail

Telesa

les

Online

Bank

Retail

Telesa

les

Online

Bank


33/37


Documents required In New India Assurance

Customer

segments

Personal Business/

industrial/

liability

Rural

Documen

t s

required

MotorTwo/ four wheeler

RC Old insurance

(if available)

photographof vehicle

Health insurance

Age proof Medical

certificate

Residenceproof

PhotographHome insurance

List ofaccessiors

Copy of

Fire Proposal Address

proof

Lastinsurance

policy

Jewelerynumber

Marine Builty Bill of

lading

Receipt

Kisan Policy Residence

proof

inspection


34/37


registry


35/37


MANAGEMENT

Board of Directors

Name

1. Shri M. Ramadoss Chairman cum Managing Director

2. Shri A. R. Sekar, Director and FA

3. Shri I S Phukela, Director

4. Mr. R. Gopalan I.A.S., Secretary,

Department of Financial Services,

Ministry of Finance,

Government of India

5. Shri M. D. Mallaya Chairman & Managing Director,

Bank of Baroda


36/37


Corporate

Corporate Head office Address:

The New India Assurance Co.

Ltd.

87, M.G. Road, Fort,

Mumbai 400 001.

Our Offices

Corporate Domestic Overseas
http://www.niacl.com/off-corp.asphttp://www.niacl.com/off-corp.asphttp://www.niacl.com/off-domestic.asphttp://www.niacl.com/off-domestic.asphttp://www.niacl.com/off-overseas.asphttp://www.niacl.com/off-overseas.asphttp://www.niacl.com/off-overseas.asphttp://www.niacl.com/off-domestic.asphttp://www.niacl.com/off-corp.asphttp://www.niacl.com/off-overseas.asphttp://www.niacl.com/off-domestic.asphttp://www.niacl.com/off-corp.asphttp://www.niacl.com/off-overseas.asphttp://www.niacl.com/off-domestic.asphttp://www.niacl.com/off-corp.asphttp://www.niacl.com/off-overseas.asphttp://www.niacl.com/off-domestic.asphttp://www.niacl.com/off-corp.asphttp://www.niacl.com/off-overseas.asphttp://www.niacl.com/off-domestic.asphttp://www.niacl.com/off-corp.asphttp://www.niacl.com/off-overseas.asphttp://www.niacl.com/off-domestic.asphttp://www.niacl.com/off-corp.asp


37/37

new india shkhvkhv

Documents

Transcript of new india shkhvkhv