National-Insurance Question Papers - National-Insurance Interview Questions and Answers

National-Insurance Question Papers - National-Insurance Interview Questions and Answers

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National Insurance Company (NIC) was incorporated on 6th December 1906 at the height of the country’s nationalist Swadeshi movement as an expression of the Indian aspiration to establish a strong indigenous Company even in the midst of foreign rule. Today 106 years after its incorporation, 37 years after its nationalization and 10 years after its delinking from GIC, NIC stands tall as the Oldest insurance company in India and the only Company among 24 life insurance and 27 non-life insurance companies to be headquartered in the Eastern part of the country.

Expanding to a robust 1340 offices including 373 Business Centers with 15,200 skilled personnel, NIC spans the length and breadth of the country. The Company also has operations in Nepal.

NIC has been a consistent Market Leader in two zones (Northern India & Eastern India) for several years now. It has consistently been seen as “BEST IN SERVICE” in the MOTOR and HEALTH classes of Business which constitute 63% of the Indian Non Life Insurance Market.

FINANCIAL YEARS 2010 – 11 and 2011-12 :

NIC delivered outstanding business performances, quite clearly ahead of the competition.

FY 2010 – 11 : Gross Premium of 6245 crore ( 4646 crs in 09 – 10). Recorded Accretion of Rs. 1599 crs - Highest in the history of non-life insurance industry in India.

FY 2011-12 : Gross Premium Rs. 7785 Cr,Growth above 25% ;Accretion above Rs 1500 Cr while successfully reducing Net Incurred Claims from 97.05% to 87.05%. NIC also earned its Highest Profit in 5 years of Rs 331 Cr (PBT). 

For its excellence in Performance in all parameters, NIC was awarded the prestigious NDTV Profit Business Leadership Awards 2011 in the Non Life Insurance Category.

Every day, in the last 106 years, NIC has endeavoured to offer something new – an insightful policy, an attractive service or even a Simpler Process - to its Customers, in addition to its bouquet of more than 200 products.

Mission
To be the most preferred choice of customers for General Insurance by building relationships and grow profitably


Values
Leveraging technology to integrate people and processes
To excel in service and performance
To uphold the highest ethical standards in conducting our business

Commitment
We will
In areas coming within competence of General Insurance, respond to all commercially viable general insurance requirements of the citizenry, not hitherto available, within three months from the date on which such a demand is received.
In areas covered by tariff submit appropriate proposals to the Tariff Advisory Committee with comments within two months.
Continue to provide customized insurance products for weaker sections of the society at affordable price, within six months from the date of receipt of request for a specific type of cover.
Establish full and efficient computerized customer information counters at all regional centers, which will be further extended to cover the Divisional and Branch offices in stages.
Establish more equipped "MAY I HELP YOU" facility to cater to customers' information requirements at the Head Quarters and the Regional Offices.
Ensure issuance of 90% of documents on a day to day basis.
Prepare booklets on standard policy covers setting out essential information and make such booklets readily available for purchase at suitable places.
Organize Zonal Advisory Committees meeting at the four metropolitan cities on a regular basis from time to time to interact with customers and get feedback on insurance services.
Promote customer education in general insurance by holding workshops in important regional centers.
Make available to a customer, on request to the Policy issuing office, the status of his claim and/or claim settlement details within 7 working days.
Settle all claims within a time schedule envisaged hereunder ;
Personal line insurance claims within 30 days on completion of all requirements.
Property claims within 60 days on completion of all requirements.
Liability claims within 30 days on completion of process of law.
Ensure proper functioning of Ombudsman at the four metropolitan cities to conciliate disputes on personal lines insurance claims.

For more details :www.nationalinsuranceindia.com

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