Universal Sompo General Insurance
Overview Headquartered in Mumbai, India, Universal Sompo General Insurance Company Limited is a private public joint venture in general insurance where two nationalized banks, namely Allahabad Bank and Indian Overseas Bank, one private sector bank namely Karnataka Bank Ltd, one FMCG namely Dabur Investment Corp and a leading general insurer from Japan namely Sompo Japan Nipponkoa Insurance Inc have formed a general insurance company. It is India’s first Public – Private Partnership in General Insurance Industry.
Why United India General Insurance?
USGI is hybrid of Indian and Japanese, and therefore, USGI also understands and has the DNA of Japan.World class services and products.Hassle free End to End solution can be provided to customers for Finance & Insurance.Banks can provide tie up for providing finance facility to our customers.Connecting with the customers for imparting procedures about the after sales services of Insurance.Pan India distribution and servicing capability.All claims are being paid through NEFT/ RTGS procedures, thus reducing TAT for claims payment.
Why buy insurance on InsureMile online platform?
Because enquiry about insurance quotes, buying of insurance and other transactions are simple, transparent and competitive on InsureMile platform Because InsureMile does not ask you for your phone number or email details, thus you are not harassed by unwanted calls or mail. Because InsureMile will guide you, whenever you need any assistance
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Incurred Claims Ratio
The company holds an Incurred Claims Ratio of 70.91 % for 2016/17. Incurred Claim Ratio is calculated as the net claim settled by an insurer to the net premiums collected in any given year.
The most important differentiator is InsureMile’s ‘Buy A Policy, Feed A Child’ mission. For every policy you buy, InsureMile on your behalf contributes 25 meals to a child. You are thus becoming part of a Social Movement to eradicate hunger among children in India. There is no additional amount to be paid for the social cause. It is part of the premium. You can claim tax benefits for the donation you have made.