The New India Assurance Co Ltd is a Mumbai based company which is one of the five public sector insurance firms in India. This organization is the ‘largest Indian general insurance company on the basis of gross premium collection inclusive of foreign operations’. In 1919, it was established by Dorab Tata and then this firm nationalized in 1973.
Earlier, it was a subsidiary of the General Insurance Corporation of India. It not only operates in India but also in foreign countries. To spread its distribution network, the company has succeeded in forging tie-ups with some of the leading public sector banks in India such as Central Bank of India, State Bank of India, United Western Bank and Corporation Bank.
The company services the Indian subcontinent with a network of 1068 offices, comprising 28 Regional offices, 393 Divisional offices and 648 branches with approximately 21000 employees. Centralized claim processing offices of the New India Assurance Co Ltd are knows as claims hub operated from 29 locations.
In 2011-12, its overseas offices consisted of 19 branches, four associate companies, 3 subsidiary companies and 7 agencies spread in more than 23 countries. The firm works with TCS BaNCS to offer a core insurance platform.
From the period April 2012 to September 2012, the domestic gross premium of this company was Rs 5100.19 crores along with a 16.91 percent of growth. In the earlier financial year 2011-12, the global gross premium of the company was Rs 10,073.87 crores.
J. D Power Asia Pacific part of McGraw Hill Companies has positioned New India Assurance Co Ltd, the highest in satisfying auto insurance customers.
New India Assurance Car Insurance Plans
New India Assurance Health Insurance Plans
New India Assurance Travel Insurance Plans
New India Assurance Home Insurance Plans
New India Assurance Personal Insurance