IFFCO Tokio General Insurance has obtained technical assistance for reinsurance and underwriting from Tokio Marine. IFFCO Tokio further received assistance about Risk Management from TRC or Tokio Risk Consulting. IFFCO Tokio happens to be the very first insurance company in India to underwrite mega policies for an automobile company and a fertilizer firm. This all-inclusive plan by IFFCO Tokio is designed on the basis of international rates and offer coverage against all risks in spite of optimizing premium for clients. Except for the traditional products like motor insurance, IFFCO Tokio has further come up with niche insurance products like Credit Insurance, Fine Arts Insurance etc. Simultaneously, IFFCO Tokio has launched insurance products that primarily focus on rural market like Mausam Bima Yojana, Sankat Haran Bima Yojana, Janata Bima Yojana and Mahila Suraksha Bima Yojana. IFFCO Tokio general insurance makes the most of latest technologies like RFID and NDVI to offer Weather and Cattle insurance largely to rural masses.
Achievements of IFFCO Tokio General Insurance Company
IFFCO Tokio is the sole insurance company in India that possesses a 100% self-owned distribution channel called IFFCO TOKIO Insurance Services Ltd (ITIS). The GWP or Gross Written Premium of IIFCO Tokio was Rs 213 Crores in 2001-02. Over the last decade, IFFCO Tokio general insurance company has become one of the ruling private insurers in India as its annual GWP has reached a staggering Rs 3398.68 Crores in 2014-15.
IFFCO Tokio – Board of directors and management team
IFFCO Tokio General Insurance has earned great reputation in the industry. The driving force of IFFCO Tokio has been a discerning and farsighted Board of Directors. The insightful Board of Directors ensure consumer satisfaction in all offerings and initiatives made by IFFCO Tokio.
The distinguished management team at IFFCO Tokio’s boasts hands on experience of many decades in insurance industry. The responsible and thoughtful leadership of management team guide IFFCO Tokio through all sorts of situations and keep the trust of the customers always.
IFFCO Tokio General Insurance strive to become a widely reputable brand as well as an organization. IFFCO Tokio has already outlined its performance goals and aims to The vision, mission and values of IFFCO Tokio helps deliver the same.
Vision of IFFCO Tokio General Insurance
IFFCO Tokio aspires to lead India’s general insurance industry by implementing fair and transparent policy and responding quickly to customers’ queries and issues and and making them satisfied.
Mission of IFFCO Tokio General Insurance
IFFCO Tokio seeks to win the trust of individual consumers, trade, commerce and industry and offer protection to all citizens, cooperatives, international investors as well as Indian corporates in India.
Values of IFFCO Tokio General Insurance
IFFCO Tokio perceives healthy competitions as the key to provide consumers with true value. IFFCO Tokio commits to make best efforts to grow and develop India’s non life insurance sector with best insurance practice and benchmark steps to enhance the quality of lives of consumers.
IFFCO Tokio General Insurance owns a subsidiary wholly which is called IFFCO-Tokio Insurance Services Limited or ITISL. This subsidiary is the retail marketing establishment of IFFCO Tokio General Insurance and it came into existence in the August of 2003. The subsidiary chiefly focuses on developing retail and personal lines and spread the network of IIFCO Tokio out to Tier II & III towns. IFFCO-Tokio Insurance Services Limited also take care of co-operative initiatives taken by IFFCO Tokio. The subsidiary of IFFCO Tokio General Insurance is mentioned as an path-breaking distribution channel in ‘Capgemini World Insurance Report- 2009’
IFFCO Tokio – Awards and Recognitions
IFFCO Tokio general insurance won National Award in 2013-2014 by Ministry of Labor, Government of India for implementing RSBY successfully. In 2012-2013, IFFCO Tokio won the CIO100 Super achiever Awards. IFFCO Tokio also bagged the IPE BFSI Awards for being the “Best Employer Brand ” and AITA E-commerce Award in the same year for IFFCO-Tokio. IFFCO Tokio conferred a number of awards in 2011-2012 such as CIO 100 Award, Silver Edge Award for 2011 “Automated Motor U/W”, C – Change Enterprise Gold Award 2011 and Top 100 CISCO Award 2011 for demonstrating excellence and achievements in IT Security. In 2009-2010, IFFCO Tokio won Uptime Champion award by M/s Express Computers for using IT to secure competitive advantage. In the same year, IFFCO Tokio also bagged two more awards such as Amity HR Excellence award and Institute of Chartered Accountants (ICAI) award. In the session of 2006-2007 also IFFCO Tokio showed its excellence in motor insurance by achieving the top rank in the industry. IFFCO Tokio grabbed the top spot in a Survey on Customer Satisfaction which is carried out by Voluntary Organization in interests of Consumer Education (VOICE). In 2005-2006, IFFCO Tokio won the second prize as the company of the year by TMA. In the same year, IFFCO Tokio came up with an integral brand strategy and won the Best project award too.
Some other notable features of IIFCO Tokio
- ✔IFFCO Tokio general insurance won the Indian Insurance Awards 2015 in three different categories. IFFCO Tokio bagged awards in categories like most Socially Responsible Insurer, Personal Lines Growth Leadership and Under served Market Penetration.
- ✔IFFCO Tokio was featured in the special edition of The Japan Times” after the visit of India’s PM to Japan in September 2014
- ✔The Floater Health Policy called SWASTHA KAVACH by IFFCO TOKIO was rated as BEST BUY as per the parameter of Policy Premium and GOOD BUY as an overall product. IFFCO Tokio’s health plan was rated in 2013 by CONSUMER VOICE which is a Voluntary Organization.
Latest happenings at IFFCO Tokio
In recent times, IFFCO Tokio has made some new moves to provide policyholders with even better service.
Cahless treatment for victims of accident
The Union Ministry of Road Transport and Highways with IFFCO Tokio General Insurance recently signed MOU to provide victims of road accidents with cashless treatment. The cashless treatment facility offered by IFFCO Tokio is available to a maximum of Rs 30,000 for treatment and only in initial 48 hours of the accident.
- New India Assurance Company Limited
- National Insurance Company Limited
- Bajaj Allianz General Insurance Company Limited
- United India Insurance Company Limited
- Oriental Insurance Company Limited
- HDFC ERGO General Insurance Co. Ltd
- SBI General Insurance Company Limited
- Star Health and Allied Insurance Co Ltd
- Bharti AXA General Insurance Company Limited
- IFFCO Tokio general insurance company