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Aug 28, 2018     |     GO BACK     |     Share
MEGA INSURANCE ADVISORS MEET AT CHENNAI ON 28/08/2018 United India Insurance Co. Ltd, is a leading Non Life Insurance Company having its headquarters at Chennai. The Company booked Gross Total Premium Income of Rs. 17430 crores in FY 2017-18. For the year ended March 31, 2018, the state owned general insurer reported a net profit of Rs.1003 crore. Its gross premium income, driven primarily by motor, health and crop, grew by 9% at Rs. 17,430 crore in Financial year 2018. / During Financial year 2018, we managed to take the solvency ratio to 1.54% (1.5% is stipulated by the regulator). It expects solvency ratio to be around 1.5% levels at the end of this fiscal also. Amongst the most successful business verticals within the company is the Agency Vertical which is providing means of livelihood of around 6800 individual Agents. We plan to recruit another 7000 Agents this year so that our Agency force increases to 75000 by the end of the year. In 2017-18 this channel completed Gross Premium of Rs. 8086 Crores with an accretion of Rs. 892 Crores and a growth rate of 12.40%, contributing 47% of Gross Direct Premium of the company. The Agency channel issued 153.9 lakh policies. 26,489 Agents actively used Portals and issued 55.66 lakh policies booking a premium of Rs.1714 crores. Every third policy issued by the Company has been generated on the Agents Portal platform. Almost 25% of the Company's Motor premium comes from online Intermediary Portals. Kerala Claims: While the final picture on exact claims is yet to emerge, the initial claims from people affected by the /flood in Kerala is estimated to be close to Rs.300 - Rs.350 crore. "Claims have started coming in and te it is to the tune of about Rs.300-Rs.350 crore, primarily from motor, cattle and property. cilitate the customers of Kerala to intimate claims, an android based Mobile App has been hed. Customer can download the App from our website to their mobile number and use the same in case of any claim. Further an SMS along with the link to download the Android based Mobile app is being sent to all Motor policy holders of Kerala State. About Mega Insurance Advisors Meet today being held at Chennai Trade Centre: This programme shall create insurance awareness amongst public and is a motivation to Insurance Advisors to provide maximum insurance coverage to people. Insurance Advisors are the marketing force of our company who take the insurance awareness to the grassroot level so that at the time of ' any calamity they ensure that the insuring public is compensated and restored to the pre-loss position.