- Maximum entry-age is 80
- Maximum renewal age is 90 years
- Organ donor transplant expenses are covered
- Pre-existing hypertension, diabetes melitus are covered upon additional premium
- Ayurvedic, homeopathic and Unani treatments are covered
Most Popular Policies of New India Assurance
- New India Assurance Senior Citizen Mediclaim Policy
New India Assurance Senior Citizen Mediclaim Policy offers coverage to the insured against hospitalization expenses for treatment of injury and illness during policy period.
Key features of New India Assurance Senior Citizen Mediclaim Policy
- New India Family Floater Mediclaim Policy
New India Assurance Family Floater Mediclaim Policy covers all family members with single sum insured. The coverage is provided for expenses for the treatment of any illness or injury.
Key features of New India Family Floater Mediclaim Policy
- The policy comes with lifetime renewal option
- Good health and loyalty discount are available
- Coverage available on complications due to pre-existing conditions
- Organ donor hospitalization expenses are covered
- Cataract surgery is covered up to certain limits
- New India Assurance Janata Mediclaim policy
New India Assurance Janata Mediclaim policy covers cost of hospitalization (more than 24 hours) expenses and treatment expenses due to injury and illness or injury.
Key features of New India Assurance Janata Mediclaim policy
- Good health and loyalty discount are available
- Ayurvedic, homeopathic and Unani treatments are covered
- Cumulative Bonus is availble
- Free health check-up is also available
- Day care treatments are covered up to certain limits.
- New India Package Motor Policy
New India Package Motor Policy offers coverage to expenses due to injury of owner and driver and loss or damage of the insured's vehicle. The policy also covers third party death and liability.
Key features of New India Package Motor Policy
- Coverage for personal accident is available
- Coverage available for expenses to fix damaged accessories
- Coverage for passengers in the car is available.
- Coverage is available for employees and paid drivers
About The New India Assurance Company Limited
The New India Assurance Company Limited is a multinational general insurance company owned by Government of India. New India Assurance operates in 28 countries all over the world and its headquarter is located in Mumbai. New India Assurance is one of the top general insurance companies in India for over 40 years and the company is also known as New India Insurance.
History of The New India Assurance Company Limited
The New India Assurance Company Limited was established by Sir Dorab Tata on 23rd July in 1919. New India Assurance was nationalized in 1973 after 54 years of its foundation. New India Assurance used to be a subsidiary of the General Insurance Corporation of India. In 1999, GIC became a re-insurance company according to IRDA Act. All four insurance subsidiaries of GIC including New India Assurance got autonomy since then. Recently, New India Assurance, in order to increase its network has made collaboration with some leading public banks in India like Central Bank of India, State Bank of India.
Domestic operation of The New India Assurance Company Limited
New India Assurance operates extensively in Indian market. Presently, New India Assurance carry out its operation from 2097 offices. 1041 offices out of them are micro offices. At present, over 19,000 employees and 50,000 agents work with New India Assurance. The New India Insurance Company Limited caters to all categories of general insurance by providing more than 170 insurance products. . New India Assurance provided numerous heavy industries with insurance cover that range from Petrochemical, power & steel plants to aviation fleets, satellites. Aside from heavy industries, New India Assurance caters to the insurance needs of SMEs as well. The New India Assurance Company Limited executes its retail sector operation through commercial and personal business channels and provides an array of insurance products policies to cater to the micro, rural and social sector. New India Assurance also perform its operation through B2B marketing channels such as bancassurance, MFI & NGOs, motor vehicle dealers and manufacturers and Common Service Centers & also through affinity programmes with brokers and corporates. New India Assurance also participates in mass insurance programme initiated by Indian Government.
New India Assurance boasts a central data base and have a grievance management system integrated which is synchronized with the grievance management system of the regulator. Customer Care department of New India Assurance is located in all its regional offices. Customers at New India Assurance are provided with multiple options for policy renewal and have come up with services like E Mail and SMS alerts. Indian operations of New India Assurance have earned the company numerous awards in 2014-15.
Operations of The New India Assurance in abroad
The New India Assurance began to venture outside India in 1920. Currently, New India Assurance boasts presence in 28 foreign countries through direct branches, associates, agency offices, subsidiary companies. The New India Assurance holds share in many insurance firms located in Jordan, Singapore, Saudi Arabia and Kenya. Furthermore, there is an active brunch of The New India Assurance in London for past 95 years. New India Assurance has been doing business in Japan and Mauritius for past 50 years. New India insurance company also has two subsidiary companies. One of them is in Lagos, Nigeria which is called Prestige Assurance Plc and the other subsidiary is located in Trinidad & Tobago and known as New India Assurance Co Ltd, Port of Spain. New India Assurance is also a stakeholder in a Saudi Arabia based insurance company called WAFA Insurance. Some of the other insurance companies where New India Assurance holds share include Kenindia Assurance Co Ltd located in Nairobi, India International Insurance Pte. Ltd situated in Singapore and Asian Reinsurance Corporation based out of Bangkok.
New India Assurance is one of the co promoters of GIC Housing Finance Ltd and Agriculture Insurance Company of India. New India Assurance is currently in the process of establishing a common TPA in the segment of Health insurance support services with other insurers owned by the Government.
Current position of New India Assurance
Gross premium of New India Assurance in India has increased from Rs. 13209 Cr. In 2014-15 to Rs.15149.50 Cr. in 2015-16. Total assets of New India Assurance is Rs.62880 Cr. as on 31st March 2016. New India Assurance boasts a wide and vast network of office which comprises 6 large corporate offices, 27 direct agent branches, 31 regional offices,, 448 divisional offices, 583 branches, and 1041 Micro Offices all over India. New India Assurance is the biggest non-life insurer in the entire Afro-Asia region except Japan. New India Assurance is the first ever Indian general insurance company to reach Rs. 18371 Cr. gross premium. New India Assurance now has presence in over-seas countries like Japan, Fiji, U.K, Australia and Middle East countries.
What makes New India Assurance standout?
• New India Assurance boasts highest number of offices in India and in foreign countries
• 2221 offices of New India Assurance across India are fully computerized
• .New India Assurance Company Limited happens to be the first ever national company to be rated by an International Rating Agency
• New India Assurance Company is the very first company to come up with an Aviation Insurance Department way back in 1946
• New India Assurance is the first insurance organization to take care of the Hull Insurance needs of the Indian Shipping Fleet.
• New India Assurance became the first establishment to set up Training School of its own
• The idea of ‘Model Office Training’ was first introduced by New India Assurance
• New India Assurance pioneered a separate department in Engineering insurance
• New India Assurance was the first ever insurance company to take initiatives in satellite insurance
Vision of New India Assurance
New India Assurance wants to be the most reliable, respected and sought-after non-life insurer where company has expanded its operation
Mission of New India Assurance
• New India Assurance aspires to develop its Business in General Insurance for the benefit of the community
• New India Assurance strives to offer individuals, commercial organizations and all other sections of society high quality insurance products ad related services at affordable prices
Values of New India Assurance
• New India Assurance give highest priority to customers needs
• New India Assurance set superior standards of public conduct
• New India Assurance maintain total transparency in business operations
Commitments of New India Assurance
• New India Assurance shall act fairly, reasonably and courteously while dealings with customers
• New India Assurance shall ensure clarity in claim process and in policy documents
• New India Assurance shall provide complete information related to products and services
• New India Assurance shall deal with customer grievances sympathetically and quickly
• New India Assurance shall resolve customers grievances in all offices through designated customer service officers
• New India Assurance shall educate the customer about the grievance redressal system through Ombudsman
• New India Assurance shall respond within 3 months to all general insurance requirements which are commercially viable of all categories including weaker section of society at affordable price
• Continue to develop a dedicated, sensitized and professional manpower for efficient execution of roles
• New India Assurance shall monitor and have consultation with all service providers on regular basis and establish mechanism to monitor delivery services to our customers.
Achievements of New India Assurance Company Limited
• New India Assurance procured highest Global Gross Premium of Rs.18,371 crores for the year 2015-2016.
• New India Assurance has been the market leader for four decades in a row
• New India Assurance boasts highest assets of Rs.62880 Cr. as on 31st March 2016
• New India Assurance is the only general insurance company in India to expand operation in 28 countries
• New India Assurance boasts A-Excellent (Positive) Financial Strength rating by Europe based A.M Best
Awards won by New India Assurance
New India Assurance was chosen in the 6th Fintelekt India Insurance Awards as the General Insurance Company of the year in 2015. New India Assurance was conferred The Best General Insurance Company for three years in a row in 6th Dalal Street Investment Journal PSU Award in 2015 as well. In 2013-14, India SME Forum conducted Nationwide Survey & Analysis of Small & Medium Enterprises and New India Assurance has emerged as Best General insurance Company in India. In 2014, New India Assurance further received three awards at the 4th Indian Insurance Awards. In the same year, New India Assurance also received the Platinum Award at the 36th SKOCH Summit for Excellence in General Insurance. New India Assurance was picked for Indira Gandhi RajBhasha Puraskar for company’s performance in implementing India’s official language Hindi. New India Assurance got highest ranking for its effort to satisfy customers of auto insurance by J.D Power Asia Pacific which is a part of McGraw Hill Companies. New India Assurance scored 804 out of 1000 point in India Auto Insurance Customer Satisfaction Index Study in 2011.
New India Health Insurance Plans
New India Motor Insurance Plans
- New India Assurance Package Motor Policy Click here > >
New India Travel Insurance Plans
Contact Details — New India Assurance Company:
Tardeo Rd, Janata Nagar, Tardeo,
Mumbai, Maharashtra 400034
Phone: 022 2351 3550