Professional Documents
Culture Documents
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
The Company has a wide spectrum of general insurance products offerings totaling 235, to meet
the various requirements of the insuring public. Last year, our Country witnessed a major natural
disaster wrought by Uttarakhand floods which reportedly caused economic losses amounting to
Rs. 12,000 Crs and insured losses estimated at around Rs. 1500 Crores. Our Company was
reported of 157 Claims with an estimated loss of Rs. 824 Crs of which 135 claims are fully paid.
The Company also donated Rs. 1 Crore to the Chief Ministers Relief Fund in this regard, apart
from its employees contributing a days wage for the same.During the current year, the Company
has plans to open two new Regional Offices, one in the State of Chattisgarh and the other in the
Union Territory of Puducherry.
To serve the growing business requirements, the Company recruited 303 officers and 600
employees last year and plans to recruit 400 officers and 13500 agents in the current year. To
cater to the specific needs of our Motor customers, the Company introduced Nil depreciation
add-on in Motor Department and new products like return to invoice, Engine protectunder
motor portfolio would be introduced in current year. The Company will launch the redesigned
Family Medicare Policy soon, which is compliant with the revised regulations. The Company is also
working on new health products like low-cost health insurance. The Company will shortly be
launching an insurance product exclusively for the MSME sector, which would be the first of its
kind in the industry.
The Company maintains a robust solvency margin, which displays its strong and inherent
fundamentals, and continues to be in a premier position in rural and social insurance sector and
thereby contributing to the insurance inclusion in the country. The Company would continue to
deliver excellence in customer service by launching various initiatives to promote Insurance
awareness and CRM software tools. The Company also has a large number of hospitals under its
Preferred Provider Network model, to offer cashless services to its health insurance customers.
During the year, the Company also extended cashless service to its motor customers by tying up
with various automobile workshops across the Country.
The Company as part of its Corporate Social Responsibility adopted 25 remote villages across
India by providing various social and educational infrastructure to them. Apart from this, the
Company is also creating insurance awareness among the students of select schools in various
locations.
The year saw United India in the victory stand with many prestigious and important awards
coming its way.
The Company was awarded Ethical Company in Insurance: Property and Casualty by World
CSR Congress, the Best Health Insurance Provider in the Outlook Money Awards 2013 and
Consistent All Round Performer Award by Dalal Street Investment Journal.
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
28 NON LIFE INSURNACE COMPANIES ARE OPERATING OUT OF WHICH 5 ARE MONOLINE
HEALTH INSURERS (Star, Appllo Munich, Max Bupa, Religare and Cigna TTK) AND 2 ARE
SPEICALISED INSURERS (Agricultural Insurance Co. and ECGC). The last one to be licensed was
Cigna TTK Health Insurance Co.
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What is Unisurge?
November, 2007 marked a significant in the history of United India. Our top leadership came
together in Hyderabad to frame the vision of our company and determine the path that we should
take in shaping our future. We resolve to transform our to be able to take the challenge posed by
competition head on, and continue to be a leading player in general insurance industry Since then,
our company has embarked upon an ambitious enterprise-level transformation project,UNISURGE
What are the initiatives under Unisurge?
Six
Initiatives
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
themes
LCB : Provide differentiated service and organisational focus to large corporate &
government accounts, with focused development effort in the West.
UMEX Motor Dealer Officer : Capture greater share of motor through OEM/dealer
Health : Improve performance of health portfolio through hospital relationships;
Improve TPA in the medium term. Also review product portfolio.
Motor : Develop competitive products and offer additional value-added services
toincrease market share.
UMEX Agency : Re-energise agent channel through better development, support
and aligned incentives. 35000 agents with a premium of Rs.2530 crores
UMEX Bancassurance : Drive higher premiums in Bancassurance channel through
active management, leverage channel to target rural/microfinance. Vijaya Bank,
Dena Bank and Development Credit Bank are added to our fold this year. Tied up
with LIC Housing Finance Ltd.
Service hubs : Improve speed and efficiency of underwriting and claims processes
through consolidation
TPA Claim hubs: Improve speed and effectiveness of investment process.
Drive higher returns by improving effectiveness of investment process.
Enhance organizational accountability and strength HR structure. Create incentive
system and link to rigorous performance management system.
SERVICE HUBS COVERING 114 DOS AND 83 BOS ACHIEVED A REDUCTION IN THE TURN
AROUND TIME (TAT) IN CLAIM SETTLEMENT TO 30 DAYS FROM 55 DAYS EARLIER.
HEALTH AND TPA RESULTED IN REDUCTION OF TAT IN ISSUANCE OF ID CARDS AND
CLAIM SETTLEMENTS.
United India Insurance Company Limited was incorporated as a Company on 18th February 1938.
General Insurance Business in India was nationalized in 1972. 12 Indian Insurance Companies, 4
Cooperative Insurance Societies and Indian operations of 5 Foreign Insurers, besides General
Insurance operations of southern region of Life Insurance Corporation of India were merged with
United India Insurance Company Limited. After Nationalization United India has grown by leaps
and bounds and has 18300 work force spread across 1340 offices providing insurance cover to
more than 1 Crore policy holders. The Company has variety of insurance products to provide
insurance cover from bullock carts to satellites.
United India has been in the forefront of designing and implementing complex covers to large
customers, as in cases of ONGC Ltd , GMR- Hyderabad International Airport Ltd, Mumbai
International Airport Ltd Tirumala-Tirupati Devasthanam etc. We have been also the pioneer in
taking Insurance to rural masses with large level implementation of Universal Health Insurance
Programme of Government of India & Vijaya Raji Janani Kalyan Yojana ( covering 45 lakhs women
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
in the state of Madhya Pradesh) , Tsunami Jan Bima Yojana (in 4 states covering 4.59 lakhs of
families) , National Livestock Insurance and many such schemes.
We have also made our presence in more than 200 tier II & III towns and villages through our
innovative Micro Offices.
BPL- BELOW POVERTY LINE
RSBY RASHTRIYA SWASTHIYA BIMA YOJANA
HCM- HUMAN CAPITAL MANAGEMENT
PMS- PERFORMANCE MANAGEMENT SYSTEM
WE HAVE ADOPTED A VILLAGE CALLED BAIRAMANGALAM NEAR HOSUR.
The Company adopted the Bairamangalam Village in Krinagiri District in TamilNadu for
focussed financial inclusion activities. Apart from reaching various insurance policies to the
needy, the programme also envisage improvement of the social fabric with hygiene, health
and education schemes. It is proposed to adopt more villages for financial inclusion
programmes in the current year. United India is also associated with major banks for the
financial inclusion of the villages. One more village, Kalkadambur near Sathyamangalam
adopted in our RO.
Other villages adopted:
1. Pallipalem Vizag RO
2. Itkal Pune RO
3. Sanghe Ludhiaha RO
4. Kakori Lucknow Ro
5. Swargon Nagpur RO
6. Amethia Lucknow RO
7. Karnal Chandigarh RO
8. Hosakuli Hubli RO
9. Rameshwarpally Hyderabad RO
10. Bhatupara Kolkata RO
11. Swargaon, Nagpur RO
12. Sanghe, Ludhiyana RO
13. Pallipalem, Vizag RO
14. Tape, Patna RO
15. Guradia, Bhopal RO
16. Jansan, Vadodara RO
17. Palayasenjai, Madurai RO
18. Thuvarankadu, Madurai RO
19. Sanbandha, Kolkata RO
20. Kothimangalam, Chennai RO
21. Sherpur, Patna RO
22. Kalkadambur, Coimbatore RO
23. Komali, Vizag RO
24. Topantoli, Guwahati RO
25. Kotabagi, Hubli RO
26. Yemmatty, Hubli RO
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
BOARD OF DIRECTORS
1. SRI.MILIND A.KARAT, CMD
2. SMT.PRIYA KUMAR (Govt. Director)
3. SRI. THRIVIKRAMAN THAMBI
4. SRI. T.M.BHASIN (CMD, Indian Bank)
5. SMT. ASHA NAIR, GM
6. Sri.Vasantha Krishna, GM
GENERAL
1.
2.
3.
4.
5.
6.
7.
8.
9.
MANAGERS:
Smt.Asha Nair Health, Actuorial, IRDA and Ministry Co-ordination
M.Vasantha Krishna, - Marine, IT, CORE , Bancassurnce, LCB
R.K.Deka HRM (Cl. 1,3 and 4), PF, Pension Gratuity, SC/SC Cell, Staff matters
M.V.V.Chalam Estate, Investment, ERM
A.Hoda Motor, Engineering, Project Cell
V.E.Kaimal Fianance and Accounts, Audit, Chief Investment Officer
Smt.T.Alamelu Fire, Marine, Aviation and Reinsurance
Ishkumar Misc,Motor Dealer, Agency verticals, Marketing, SBU, Publicity
Smt. Hemamalini Micro Insurance, Rural and Social, Micro Offices, SME, Class 2
matters, Customercare, Grivevance, RTI
OUR VISION
1. THE MOST PREFERRED INSURER IN INDIA
2. A TRUST ED BRAND ADMIRED BY ALL STAKEHOLDERS
3. THE BEST IN CLASS CUSTOMER SERIVE PROVIDER
4. PROVIDER OF BROAD RANGE OF INNOVATIVE PRODUCTS
5. GRATE PLACE TO WORK WITH HIGHLY MOTIVATED AND EMPOWERED EMPLOYEES
6. RECOGNISED FOR ITS CONTRIBUTION TO SOCIETY
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
Householder Policy
Shopkeeper Policy
Online Renewal
S.No
Title
1
Householder Policy
Motor Policy
Shopkeeper Policy
Submission of CRs have been made online. Transparency introduced. The name
CR has been removed. It will be called as APAR Annual Performance Appraisal
Report.
Nil Depreciation cover in Motor has been extended to cover Taxi, Three wheelers and
Class-D Vehicles (Misc. Type of Vehicles), upto 7 years of age.
Incentive Scheme for Motor policies for agents introduced from 1.12.2013
Cash hours extended: Cash / Cheques should be accepted upto half an hour before close
of office
New Bancassurance partner : Pallavan Grama Bank
New Staff group mediclaim policy on family floater basis introduced from 1.2.2014
New India completed 14,300 crores of global premium in 2013-14
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
IRDA has modified health regulations from 1.10.2013 which should be followed by all
general insurers in all their health policies:
o Standardisation: 45 common terms used in health policies, 11 critical illnesses
defined
o Nomination mandatory
o Entry age 65 years
o Health policies should be renewed if insured pays premium within grace period,
unless there is a fraud
o Free look Period 15 days from receipt of first policy Insured may cancel the
policy and get proportionate refund in case the insured is not satisfied with the
policy conditions.
o Pre-insurance medical examination expenses 50% refundable subject to
o All health Policies are portable including individual members in group policies
o Claims should be settled within 30 days including rejection.
o Shortfall documents should be called for in one shot, not in piece-meal
o Change of TPA should be informed to the insureds
o Hospital expenses not payable are tabulated and published
While framing the constitution of our country, Hindi was unanimously accepted as National
language and Hindi was adopted as the National Language of the Union of india on14th September,
1949.
To commemorate this occasion "HINDI DAY" is celebrated on 14th September every year.
Article 343 of the constitution states that "The Official language of the Union shall be Hindi in
Devnagari Script. The form of numerals to be used for the Official purpose of the union shall be
the international form of Indian numerals.
The company has shown good progress in the implementation of Official Language Policy as per
the Annual Programme on O.L. Implementation of Govt. of India.
Some of the noteworthy achievement in Official Language Implementation includes the following:
E. SERVICES TO FACILITATE EMPLOYEES:
One Hindi word a day is taught to all through Intranet.
Messages, Reports and Photos of Hindi Day/Week, Conference etc. are uploaded regularly.
Hindi House Magazine is available in Intranet as E-Magazine.
E.MAIL IN HINDI:
Mails are sent by various offices in Hindi.
PROPOGATION OF NON-LIFE INSURANCE THROUGH ELECTRONIC MEDIA:
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
To popularize non- life insurance products among masses in rural and urban areas, programmes like
discussion, speeches etc. are organised through All India Radio. Recently a programme on Health
Insurance was organised.
BILINGUAL PUBLICATIONS:
a. CITIZENS CHARTER printed in bilingual and regional language
b. Performance, Planning, Analysis, Review and Discussion and Quality Circle of HRD has
been translated and printed in bilingual
c. DOs AND DONTS vigilance manual had been printed in bilingual.
d. Companys Annual Report published in bilingual
e. Companys corporate Motto is in bilingual.
f. Handbook on Official Language has been published to facilitate working in Official
Language, for officers and employees
g. Agent's Manual
h. Pension Rules
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
: G.Srinivasan
: A.V.Girija Kumar, Officiating CMD
: Dr.A.K.Saxena
: P.J.Joseph
: Ashok K.Roy
ACCOUNTS:
SCROLL is a facility provided in GENISYS to account from a previous date, with proper
authorization. The reason for back-dated entry should be clearly recorded that too only 5 days
back dated entry only allowed. The scroll should be adjusted within 30 days
Incurred Claims = (Claims Paid + Claims Related Cost) + Claims outstanding
at the end of Current year Claims outstanding at the end of Previous Year
Claims Ratio = Incurred claims/ Premium x 100
Underwriting Profit = Premium Incurred Claims Commission paid Expenses of Mgt.
LTS Rules
Leave travel subsidy is admissible to the confirmed employees of the company once in a block of
two calendar years.
Cadre / Category
Block year
Calendar year (eg.)
Class I Officers
Odd to even
01.01.2007 to 31.12.2008
Class II / III / IV employees
Even to Odd
01.01.2006 to 31.12.2007
Entitled distance:
a. For travel other than home town 3000 kms each way for all employees
b. Travel to home town (as declared by the employee and accepted by the competent
authority) actual distance from the place of posting to the hometown by shortest route.
FOREIGN TOURS NOT ALLOWED.
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
1. Show your accomplishments and your strengths. Let the interviewer see
what you have to offer and how you are suited for the promotion. Minimize
your weaknesses, or turn them into positives by showing how you would
overcome them.
2. Give examples of your good work. Show concrete examples of your business
success and patterns of successful behavior.
3. Do your research. Know what the interviewer is looking for in your answers
and show your knowledge of the business, especially as it relates to the
promotion. Explain how you will enrich the company if you are promoted, and
give examples of your success and accomplishments.
4. Describe how you handle challenges. The interviewer will probably give you
possible scenarios and ask you how you would handle the problems. Turn
any negative answers into positive answers. Explain how you would
overcome any weaknesses and turn them into strengths.
5. Explain what you would do if you were promoted and how these things would
help the company. Show your leadership skills and your ability to be a team
player. Explain how you are able to work with others and take charge when
needed.
6. Answer close-ended questions with short answers to keep the interview
moving forward. Answer open-ended questions with long answers to show
insight into your abilities.
7. Show your willingness to work overtime and get any extra training that is
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
3. If you do not know the answer you can tell them, I do not know or I am not
able to recollect
4. You have to fill a face sheet before the interview in which you have to write
which department you are working. Prepare yourself the aspects of one
department which you have to write in that face sheet.
5. If they ask Are you ready to work anywhere in India, please say Yes because
this answer is not going to decide about your posting.
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
Extra premium of 10%, 20% and 30% on Net OD premium for 1st year, 2nd year and 3rd
year vehicles respectively
No depreciation on any parts
Excess: 0.5% of IDV or 1% of claim amount subject to a minimum of Rs.2000/- (apart
from regular excess
Medical expenses due to accident for unnamed occupants:
Two options: Rs.25,000/- per person and Rs,50,000/- per annum OR Rs.50,000/- per
person and Rs.1,00,000/- per annum
Premium depends on option of benefits and age of the car ranging from Rs.200/- to
Rs.450/Courtesy Car:
The expenses of hiring of a car in case of the insured vehicle is under repairs for an
admissible claim under the policy.
Three options 3 days, 5 days and 7 days per annum. Per day reimbursement:
Rs.1000/Premium depends on option on days and age of vehicle ranging from Rs.200 to Rs.
600
Personal effects:
To cover the loss or damage to the personal effects carried in the car due to accident
Two options available for a sum insured of Rs.5000 (Premium Rs.250/-) and
Rs.10,000/- (Premium Rs.500/-)
Excess (minimum Deductibles) in Fire and Engineering policies have been revised from 1.4.2011
Fire:
Sum Insured
Excess as % of claim
Minimum
amount
Upto 10 crores
5%
10,000
10 to 100 crores
5%
25,000
100 to 1500 crores
5%
5,00,000
1500 to 2500 crores
5%
25,00,000
Above 2500 croes
5%
50,00,000
Floater and Floater
5%
25,000
Declaration policies
LOP policies
14 days of gross profit for
petro chemical risks and
7 days for other risks
IAR policies
As Fire policies
Cellular Network policies
5%
5,00,000
Ancient Indian history has preserved the earliest traces of insurance in the form of marine
trade loans and carriers contracts. Insurance in India has evolved over time heavily drawing
from other countries, England in particular.
1818 saw the advent of life insurance business in India with the establishment of the
Oriental Life Insurance Company in Calcutta. This Company however failed in 1834. In
1829, the Madras Equitable had begun transacting life insurance business in the Madras
Presidency. 1870 saw the enactment of the British Insurance Act and in the last three decades
of the nineteenth century, the Bombay Mutual (1871), Oriental (1874) and Empire of India
(1897) were started in the Bombay Residency. This era, however, was dominated by foreign
insurance offices which did good business in India, namely Albert Life Assurance, Royal
Insurance, Liverpool and London Globe Insurance and the Indian offices were up for hard
competition from the foreign companies.
In 1914, the Government of India started publishing returns of Insurance Companies in
India. The Indian Life Assurance Companies Act, 1912 was the first statutory measure to
regulate life business. In 1928, the Indian Insurance Companies Act was enacted to enable the
Government to collect statistical information about both life and non-life business transacted
in India by Indian and foreign insurers including provident insurance societies. In 1938, with
a view to protecting the interest of the Insurance public, the earlier legislation was
consolidated and amended by the Insurance Act, 1938 with comprehensive provisions for
effective control over the activities of insurers.
The Insurance Amendment Act of 1950 abolished Principal Agencies. However, there were
a large number of insurance companies and the level of competition was high. There were
also allegations of unfair trade practices. The Government of India, therefore, decided to
nationalize insurance business.
An Ordinance was issued on 19th January, 1956 nationalising the Life Insurance sector
and Life Insurance Corporation came into existence in the same year. The LIC absorbed 154
Indian, 16 non-Indian insurers as also 75 provident societies245 Indian and foreign
insurers in all. The LIC had monopoly till the late 90s when the Insurance sector was
reopened to the private sector.
The history of general insurance dates back to the Industrial Revolution in the west and
the consequent growth of sea-faring trade and commerce in the 17th century. It came to India
as a legacy of British occupation. General Insurance in India has its roots in the establishment
of Triton Insurance Company Ltd., in the year 1850 in Calcutta by the British. In 1907, the
Indian Mercantile Insurance Ltd, was set up. This was the first company to transact all classes
of general insurance business.
1957 saw the formation of the General Insurance Council, a wing of the Insurance Associaton
of India. The General Insurance Council framed a code of conduct for ensuring fair conduct
and sound business practices.
In 1968, the Insurance Act was amended to regulate investments and set minimum
solvency margins. The Tariff Advisory Committee was also set up then.
In 1972 with the passing of the General Insurance Business (Nationalisation) Act, general
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
insurance business was nationalized with effect from 1st January, 1973. 107 insurers were
amalgamated and grouped into four companies, namely National Insurance Company Ltd.,
the New India Assurance Company Ltd., the Oriental Insurance Company Ltd and the United
India Insurance Company Ltd. The General Insurance Corporation of India was incorporated
as a company in 1971 and it commence business on January 1sst 1973.
This millennium has seen insurance come a full circle in a journey extending to nearly 200
years. The process of re-opening of the sector had begun in the early 1990s and the last
decade and more has seen it been opened up substantially. In 1993, the Government set up a
committee under the chairmanship of RN Malhotra, former Governor of RBI, to propose
recommendations for reforms in the insurance sector.The objective was to complement the
reforms initiated in the financial sector. The committee submitted its report in 1994 wherein ,
among other things, it recommended that the private sector be permitted to enter the
insurance industry. They stated that foreign companies be allowed to enter by floating Indian
companies, preferably a joint venture with Indian partners.
Following the recommendations of the Malhotra Committee report, in 1999, the Insurance
Regulatory and Development Authority (IRDA) was constituted as an autonomous body to
regulate and develop the insurance industry. The IRDA was incorporated as a statutory body
in April, 2000. The key objectives of the IRDA include promotion of competition so as to
enhance customer satisfaction through increased consumer choice and lower premiums, while
ensuring the financial security of the insurance market.
The IRDA opened up the market in August 2000 with the invitation for application for
registrations. Foreign companies were allowed ownership of up to 26%. The Authority has
the power to frame regulations under Section 114A of the Insurance Act, 1938 and has from
2000 onwards framed various regulations ranging from registration of companies for carrying
on insurance business to protection of policyholders interests.
In December, 2000, the subsidiaries of the General Insurance Corporation of India were
restructured as independent companies and at the same time GIC was converted into a
national re-insurer. Parliament passed a bill de-linking the four subsidiaries from GIC in July,
2002.
Today there are 28 general insurance companies including the ECGC and Agriculture
Insurance Corporation of India and 24 life insurance companies operating in the country.
The insurance sector is a colossal one and is growing at a speedy rate of 15-20%.
Together with banking services, insurance services add about 7% to the countrys GDP. A
well-developed and evolved insurance sector is a boon for economic development as it
provides long- term funds for infrastructure development at the same time strengthening the
risk taking ability of the country.
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit
For your valuable feedback and further improvements in this material, please
contact:
R.Nithyanandan,
Secretary, GIOAIA,
Coimbatore Unit
Mobile No: 098431 97633
Office: 0422 2211513, 2211257
IP: 170400
Email: nithyuiic@gmail.com
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Prepared by: General Insurance Officers All India Association, Coimbatore Unit