Skip to main content | Text Size: Smallest text size Smaller text size Medium text size Larger text size Largest text size | Contrast Scheme: Black on White Yellow on Black | This Page is in Hindi

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

Global Gross Premium for 2016-17 is Rs. 22279 crores and for the first quarter ended 30thjune 2017 it is Rs.6132 crores. Profit before Tax and after tax as on 30thjune is Rs.601 crores and Rs. 499 crores respectively. As on 30th June 2017, Net worth of the company including fair value stands at Rs.37593 crores, Investments at Market value Rs.56305 crores and Asset base Rs. 72576 crores.

Network of Offices in India as on 30th June 2017 is as under :

North

Uttarakhand

37

Himachal Pradesh

27

Jammu & Kashmir

23

Haryana

65

Punjab

104

Chattisgarh

42

Delhi

64

Chandigarh

11

West

Goa

11

Gujarat

178

Maharashtra

345

Rajasthan

101

Madhya Pradesh

112

Dadra & Nagar Haveli

1

Daman & Diu

1

South

Tamil Nadu

284

Karnataka

107

Kerala

138

Andhra Pradesh and Telangana

194

Lakshadweep

1

Puducherry

8

Andaman & Nicobar Islands

5

East

Bihar

46

Assam

51

Arunachal Pradesh

3

Mizoram

3

Meghalaya

6

Nagaland

4

Sikkim

2

Tripura

7

Manipur

3

Orissa

80

Jharkhand

45

Uttar Pradesh

245

West Bengal

98

 

Total

2452

International Presence

Sr. No. Country Branches
A. FOREIGN BRANCHES
1 Japan Tokyo
Nagoya
Hiroshima
Okayama
Sapporo
Osaka
Gifu
2 Hong Kong Hong Kong
3 Philippines Manila
4 Thailand Bangkok
5 Australia Sydney
6 Fiji Suva
Lautoka
Labasa
Nadi
7 Mauritius Port Louis
8 U.K. London-Fenchurch
Ipswich
9 New Zealand Auckland
B. FOREIGN AGENCIES
1 Abu Dhabi (U.A.E.) Abu Dubai
2 Dubai (U.A.E.) Dubai
3 Bahrain Bahrain
4 Kuwait Kuwait
5 Oman Muscat
6 Dutch Caribbean Aruba
7 Neterhlands Antilles Curacao
C. SUBSIDIARY COMPANIES
1 Nigeria Lagos
Kano
Port Harcout
Apapa
2 Trinidad & Tobago Port of Spain
3 St. Lucia Castries
4 Dominica Roseau
5 St. Maarten Philipsburg
6 Guyana Guyana
6 Anguilla Anguilla
6 Sierra Leone Freetown
D. REPRESENTATIVE OFFICE
1 Myanmar Yangon
E. ASSOCIATES
1 Wafa Insurance, Saudi Arabia (previously SICCI)
2 India International Insurance Pte Ltd., Singapore
3 Kenindia Assurance Company Ltd., Nairobi,Kenya

Overseas operations commenced in the year 1920. New India Assurance is operating in 28 Countries as on 2016-17 comprising of 19 Branch Offices in 9 Countries, 7 Agency Offices in 7 countries, 3 Subsidiary Companies in 8 Countries, 1 Representative Office in 1 country and Associate in 3 countries. . The Overseas Gross premium (foreign) for year 2016-17 is Rs. 3164 Cr .

Our Strengths

Largest number of Offices - In India and Abroad Trained and technically qualified staff 2221 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.

Citizens' Charter

Our Vision

  • To be the most respected, trusted and preferred Non-life Insurer in the Global markets we operate.

Our Mission

  • To develop General Insurance Business in the best interest of the community.
  • To provide Financial Security to Individuals, Trade, Commerce & all other segments of the Society by offering Insurance products & Services of High Quality at affordable Cost.

Our Values

  • Highest priority to Customers needs
  • High standards of Public Conduct
  • Transparency in operations

Our Culture

  • Courtesy and Caring
  • Initiatives and Innovation
  • Integrity, Trustworthiness and Reliability

Our Commitments

We shall

  • Act courteously, fairly and reasonably in all our dealings with the customers.
  • Make sure all our policy documents and claim procedures are clear and complete information is given about our products and services.
  • Deal quickly and sympathetically with the grievances of the customer and resolve efficiently through nominated customer service officers in all operating offices. We will educate the client about grievance redressal mechanism including the system of grievance redressal through Ombudsman.
  • Respond to all commercially viable General Insurance requirements of all categories including products for weaker section of the society at affordable price within 3 months from the date of such requirement.
  • Continue to develop a dedicated, sensitized and professional workforce for efficient execution of roles assigned to them.
  • Have a regular monitoring and consultative process with all our service providers and set up monitoring mechanism for delivery of promised services to our customers.

Standards for Access to Citizens

We shall

  • Host on our website http://newindia.co.in for all relevant information relating to working hours, contact nos., documents required for issuance of policies and claim settlement.
  • Make available information on products and services through display in office, information kiosks, Brochures relating to our Products and Services in Regional Languages and in easy to understand 'style'.
  • Reach out through electronic and print media, intermediaries and other active communication channels available.
  • Enhance the access of citizens through helpline, call centre, portal and personalised interactions through Retail customers Meets.
  • Earmark the time between 3.00 p.m. To 5.00 p.m. of every Wednesday (next working day, in case Wednesday happens to be a holiday) for personal interaction of customers with officer in-charge of the Branch/ Divisional /Regional Offices for resolving the grievances.

Standards for Servicing

We shall

  • Strive to achieve and excel the time lines/bench mark set forth by the regulator in respect of policyholders servicing.
  • Be clear and transparent in seeking fulfillment of requirements for settling a claim or any other services to the customer.

Standards and Fairness and Openness

We shall

  • Enable the customers with opportunities to provide the organization with feedback on services availed by them and suggest improvement through customer meets, surveys, web and interactive voice response system (IVRS). We have established call centre and also direct customer on line, dedicated e-mail facility at suggestions(at)newindia[dot]co[dot]in through which customers can provide their suggestion for betterment of service.
  • Enhance customer satisfaction through adoption of latest technologies in the area of servicing processing and review of systems and methods.
  • Review the standards of services offered annually with a view to improve the benchmarks.

Bench Marks for Servicing

  • Decision on acceptance of Proposal for
    • Motor, Individual Health, Personal Accident and Other Personal lines of Insurance - within 3 days of submission.
    • Fire, Marine, Engineering and other commercial lines of Insurance - within 7 days of submission.
  • Issuance of policies within 7 days of acceptance of premium.
  • Issuance of Renewal Notice 15 days before expiry of policy.
  • Appoint Surveyor/Investigator within 48 hours of intimation of claim. On Holidays/weekends/and after office hours to enable the customers to access the web-site at http://newindia.co.in or Toll free helpline No. 1800 209 1415 of the Company to any guidance and assistance in the appointment of surveyor.
  • Decide claims on Personal Line and retail Insurances within 15 days and on Commercial Line Insurances within 30 days of receipt of required documents/clarifications.
  • Provide claim status to the customers within 3 days of receipt of request by the policy issuing office.
  • Make payment of claim within 3 days of receipt of discharge voucher.
  • Inform the customer within 30 days of receipt of required documents if the claim is not admissible.
  • Register grievances on the same day/monitor the grievances registered on Integrated Grievance Management System (IGMS) and those cases registered 'Online' through Company's Grievance Redressal System. Provide acknowledgement within 3 days of receipt and resolve the grievance within 15 days of receipt.

It will be the endeavour of this Office to strive to meet the standards of quality of service as prescribed above.

This charter is a summary of what New India Assurance Company proposes to offer to the Citizens. The charter does not in any way become a part of the policy conditions or policy contract of the New India Assurance Co. or the conditions of service of the workforce of the company.
(Impact of this Charter on Customer Service shall be evaluated periodically and wherever found necessary, introduction of requisite penalty provisions in cases of non-compliance of timelines shall be examined for the sake of adding to efficacy of the charter.)

(This Citizens' Charter was adopted at the Board meeting held on 26-03-2012)