New India Assurance Company Limited(NIACL) Question Papers - New India Assurance Company Limited(NIACL) Interview Questions and Answers updated on Nov 2024

Indian Operations

They have been leading the market, apart from premium, in reserves and net worth for many years. In 2012-13, we also have recorded the highest profit in India among all general insurers. Their Indian operations, today span across all territories through 2097 offices, including more than 1041 micro offices. We have 19,000 employees and around 50,000 tied agents providing insurance services to our customers. They have over 160 products catering to almost all segments of general insurance business. They have provided cover to Petrochemical, oil and energy industries, power and steel plants, aviation fleets, satellites, large projects and infrastructures, SMEs and are present in all forms of commercial sector. Our retail business is offered through commercial and personal lines of business and we also have range of products in rural, social sector and micro insurance segments. They operate through many B2B avenues including bancassurance, motor vehicle manufacturers and dealers, MFI and NGOs, Common Service Centers and through affinity programmes with corporates and brokers. We also have significant participation in government run mass insurance schemes.

New India Assurance is on a robust core insurance platform, with a central data base and have an integrated grievance management system synchronized with that of the regulator. Their Customer Care department is positioned at all Regional offices. We offer multiple options for the customers to renew the policies and have put in place SMS and E Mail alerts and information at various trigger points. Our Indian operations have earned many awards and recognitions in 12- 13 and it continues in current year as well.

Foreign Operations

The Company’s foreign operations have commenced decades back and today it operates in 22 countries through subsidiaries, agency operations, direct branches and associate companies. In addition, New India has also equity participation in Insurance companies in Singapore, Kenya, Saudi Arabia and Jordan. London Branch has been in operations for past 95 years and has a desk at Lloyds and operations in many countries like Japan, Mauritius etc are more than 50 years old. We have a subsidiary company in Trinidad and Tobago, New India Assurance Co Ltd, Port of Spain and another in Nigeria, Prestige Assurance Plc, based out of Lagos. We have equity participation in Kenindia Assurance Co Ltd, Nairobi, WAFA Insurance (SICCI) in Saudi Arabia, India International Insurance Pte. Ltd in Singapore and Asian Reinsurance Corporation, Bangkok.

Other Promoted Companies

They are the co promoters of Agriculture Insurance Company of India and GIC Housing Finance Ltd. We are also in the process of setting up a common TPA in the Health insurance support services segment jointly, with other Government owned insurers.

For More Details Visit :http://newindia.co.in/