COMPARISON OF NON-LIFE INSURANCE PRODUCTS

ACROSS COMPANIES

PRESENTED BY-

Sandeep Arora

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.

Introduction• ICICI Lombard General Insurance Co. Ltd. • 74:26 joint venture.

• Number 1 private General Insurance Co.

• First general insurance co. to be ISO 9001 certified

• New India Assurance Co. Ltd.• Leading global insurance group

• Only Indian insurance co. rated ‘A-’ excellent by international rating agency i.e. A.M. Best Co.

• Reliance General Insurance Co. Ltd.• Leading private general insurance co.

• Offering 94 customized insurance products catering to personal, business & small and medium enterprises

Customer Segments

• Personal

• Business/Industrial

• Liability

• NRI

• Social/Rural

• SME

Mapping Categories Of Products With Customer Segments Across

Cos.Customer segments

Personal Business NRI Rural SME Industrial Liability Social

ICICI Lombard

New India Assurance

Reliance General

Insurance

Mapping Categories Of Products With Customer

Segments In ICICI LombardICICI LombardCustomer segments

Personal

Segment

Business Segment

NRI Segment

Rural Segment

Categories of

Products

• Health• Home

• Overseas travel plan• Student medical• Travel

insurance partners

• Fire• Marine

• Industrial

policy• Corporate

insurance• Liability• Credit

• Shop

• Health• Parent’s overseas

travel• Student medical• Home• Car

• Health• Home• Tractor

• Weather• Shop

Mapping Categories Of Products With Customer Segments In New

India Assurance Customer segments

Personal Business Industrial Liability Social

Categories of

Products

•Accident•House holders•Motor policy •Money

insurance •Road Safety

•TV/VCR/VCP

•Mobile

• Jewellers

• Shop• Marine• Aviation

• Fire

• Machine breakdown• Burglary

• Electronic equipment

•Public

liability policy•Products•Directors

& Officers•Employers‘

•Rural•Student

safety•Women welfare•Child

welfare

Mapping Categories Of Products With Customer Segments In Reliance General Insurance

Customer segments

Personal Business SME

Categories of Products

• Health• Motor• Home• Travel

• Accident cover

• Claim status

• Fire

• Engineering

• Marine

• Liability

• Property• Fire

• Package• Marine• Health

Brands across the companies

Customer segments

Personal Business/ industrial/ liability Rural/ social

ICICI

Lombard

Motor Insurance:Car insurance

Two wheeler insurance

Home insurance

Fire insurance:Fire and special perils policy (material damage)

Consequential Loss (Fire) Insurance Policy

Marine insurance:Marine Import Transit Insurance Policy Marine Export Transit Insurance Policy Marine Inland Transit Insurance Policy

Rural insurance:Tractor insuranceWeather insurance

New India Assurance

Motor Insurance:All type of vehicle plying on road

Home insurance:Householders’ policy

Fire insurance:Fire policy (One policy covering

destruction or damage to insured property)

Marine insurance:Marine cum Erection /

Storage cum Erection PolicyMarine Cargo Policy

Rural insurance:•Lift Irrigation Insurance

•Farmers Package Insurance Scheme

Reliance

General Insurance

Motor Insurance:Two wheeler comprehensivePrivate car comprehensive

Home Insurance:Reliance home protect

House holders’ package

Fire insurance:Reliance Standard Fire and Special Perils Policy

Reliance Consequential Loss Policy

Marine insurance:

Reliance Marine Cargo Insurance Policy N .A

Sales And Distribution Channels

• Retail Direct Indirect

Brokers Agents

• Bancassurance

• Telesales

• Online

Distribution channel of companies

Customer segments

Personal Business NRI Rural SME Industrial Social

ICICI Lombard

Retail

Telesales

Online

Bank

Retail

Telesales

Online

bank

Retail

Telesales

Online

Bank

Retail

Bank

New India Assurance

Retail

Telesales

Online

Bank

Retail

Telesales

Online

Bank

Retail

Telesales

Online

Bank

Retail

Telesales

Online

Bank

Reliance General

Insurance

Retail

Telesales

Online

Bank

Retail

Telesales

Online

Bank

Retail

Telesales

Online

Bank

Documents required In ICICI general insurance

Customer segments

Personal Business NRI Rural

Document for

Products

• Health• Age proof

• Medical checkup after age of 45

• Home• Market value

• Copy of registry• Value of

accessories

• Fire•Address proof• Market value

•Value of jewelry and furniture

• Marine• Receipt

•Bill of lading•builty

• Student medical•No document

• Home•Market value

•Copy of registry

•Car•Registration

certificate• Market value•Old insurance

• Health•Age proof

•Medical checkup after age of 45

Home•Market value

•Copy of registry•Value of accessories

•Tractor•Registration

certificate• Market value•Old insurance

Documents required In Reliance General Insurance

Customer segments

Personal Business/

industrial/

liability

SME

Document s’ required

•Motor Two/ four wheeler

RCOld insurance (if available)

photograph of vehicle

Health insurance Age proof

Medical certificateResidence proof

Photograph

Home insuranceList of accessiorsCopy of registry

• Fire Proposal

Address proof Last insurance policy Jewelery number

• MarineBuilty

Bill of ladingReceipt

•Group insuranceNo. of workers

Proof of employment

Documents required In New India Assurance

Customer segments

Personal Business/

industrial/

liability

Rural

Document s’ required

•Motor Two/ four wheeler

RCOld insurance (if available)

photograph of vehicle

Health insurance Age proof

Medical certificateResidence proof

Photograph

Home insuranceList of accessiorsCopy of registry

• Fire Proposal

Address proof Last insurance policy Jewelery number

• MarineBuilty

Bill of ladingReceipt

•Kisan PolicyResidence proof

inspection