New India Assurance Company Limited: Background

New India Assurance Company Limited, previously a subsidiary of the General Insurance Corporation of India (GIC), is a general insurance company based in Mumbai, Maharashtra. It was Sir Dorabji Tata who established The New India Assurance Co. Ltd. in the year of 1919. New India Assurance became one of the four subsidiaries of the General Insurance Company of India after it was nationalized in the year 1973. New India Assurance Company Limited (NIACL) is the one and only general insurance company of India that holds a sturdy market position in the country and has a really flabbergasting reach outside of India. New India Assurance having its registered office in Mumbai, functions through 31 regional offices, 447 divisional offices, 588 branch offices, 27 direct agent branches and 1239 micro offices all over the country. New India Assurance is presently the leading general insurance company of India in terms of the gross premium that is collected inclusive of all foreign operations. The portfolio of New India Assurance Company comprises of its operations in 28 different countries worldwide. This is one of the reasons why New India Assurance is now India’s largest non-life insurance company. With around 170 different insurance products and services on offer, New India Assurance provides the best and most effective plans to its consumers.

New India Assurance Company Limited: The Present

To talk about the present, the New India Assurance Company is the biggest non-life general insurance company of India with around 50,000 insurance agents of which approx 19,000 are employed by the company itself. New India Assurance provides necessary customer assistance and effective claim support. New India Assurance Company Limited operates in 28 different countries worldwide. New India Assurance operates through its branches in foreign countries like Japan, Thailand, Australia, New Zealand, UK, UAE etc. In present, it’s the only general insurance company of India to have its presence in 28 countries with its net worth of around Rs.28, 895 crores and total assets of over Rs. 61, 720 crores as of the Fiscal Year 2015-2016. New India Assurance is the very first non-life public sector general insurance company of India to reach Rs. 18, 000 crores worldwide gross premium. New India Assurance Company is the only direct insurance company that has been rated ‘A’ (Excellent – Positive Outlook) by AM Best. CRISIL rated New India Assurance Company Limited ‘AAA/STABLE’ for its highest leveled financial strength. New India Assurance Co. Ltd. offers 10% Digital discount to their Customers on the first time purchase of some of their selective products like Private Car, Two Wheeler, Personal Accident, House Holder, Individual Personal Accident, New Family Floater 2012, New India Floater Mediclaim, New India Top Up Mediclaim, Asha Kiran, New India Mediclaim Policy any many more.

New India Assurance: Different Products & Services

A number of different products and services are provided by the largest general insurance company of India, New India Assurance. Insurance policies provided by New India are highly sought after in the country because of the packed coverage and benefits they come with. Some of the well-accepted services offered by New India Assurance are mentioned in brief below. The services provided by the company can be purchased and renewed through the online portal of New India Assurance Co. Ltd. without any hassle.

  • New India Health Insurance Policies: New India Health Insurance plans are meticulously designed with extra care to meet all the emergency medical needs of a policy buyer and secure an insured person financially to battle with sky-high medical bills. The health plans provided by New India Assurance stands out from all other health insurance policies offered by different insurance companies in India. New India Health Insurance Policies offer exclusive and effective coverage for individual, family, senior citizen or, for anyone in need of a good health insurance plan at an affordable price. One can easily and instantly avail quotes on different New India Health Insurance plans online.
  • New India Car insurance Policies: New India Assurance provides various motor insurance products for Commercial Vehicle, Private Cars and Two Wheelers. New India Car Insurance provides extensive coverage on your private or commercial vehicle. Both third party and comprehensive coverage are provided by New India Car Insurance policies. Buyers of motor insurance policies can choose from various add on covers offered by New India Car Insurance. Personal Accident covers for passengers and paid drivers are also provided by New India Car Insurance for both commercial and private vehicles. These motor insurance plans pay up to a maximum limit of Rs.1500/- for the towing of cars and commercial vehicles from accident zone to workshop. You can easily buy or renew New India Car Insurance policy online.
  • New India Two Wheeler Insurance: Two wheeler policies from New India provide similar benefits and facilities like motor insurance policies. New India Two Wheeler Insurance policies too offer the best coverage for third party liability and comprehensive coverage. Up to a maximum limit of Rs. 300/- is payable under New India Two Wheeler Insurance policy for towing purpose to remove the bike / scooters from the accident place to the workshop. Apart from all these lavishing benefits and features, New India Two Wheeler Insurance offers different effective add on covers for bikes. You can instantly buy or renew New India Two Wheeler Insurance policy online.
  • New India Travel insurance Policies:The prime objective of New India Travel insurance is to cover the all the medical expenses incurred by the insured persons arising out of any bodily injuries or disease or sickness while travelling overseas. The age limit for buying New India Travel insurance is between 6 months to 70 years. The premium of New India Travel insurance can be paid in Indian rupees whereas the claims are settled overseas in foreign currency. Best travel insurance policies are provided by New India Assurance Company so that you feel more at ease while you travel a foreign land.

New India Assurance Company: Most Famous Plans

It is needless to say that the insurance plans from New India Assurance have its own ground of effectiveness given that they are high on the coverage. Some of the most famous plans offered by New India Assurance are discussed in brief below.

  • New India Global Mediclaim Policy: This New India Health Insurance policy can be availed by anyone who is already having a Health Insurance Policy with the Sum Insured of Rs. 8 Lakhs and above. The entry age for the policy is 18 years to and maximum age is 65 years. This New India Health Insurance plan covers some specified treatments such as Neurosurgery, Cancer Surgery, Heart Valve Surgery, Bone Marrow Transplant, Living Organ Donor Transplant and Coronary Artery Bypass Graft (CABG) Surgery. The mediclaim policy can be purchased and renewed online.
  • New India Senior Citizen Mediclaim Policy: This New India Health Insurance plan is available for all senior citizens of the country. New India Senior Citizen Mediclaim policy covers any Indian senior citizen aged between 60 years and 80 years. The coverage under this plan can be continued up to 90 years of age if it’s renewed without a break. The plan covers all pre-existing conditions after 18 months. You can buy or renew this New India Health Insurance plan online.
  • New India Asha Kiran Policy: New India Asha Kiran is one of the most famous health insurance policies exclusively designed to cover up the expenses incurred from medical treatments of a family due to hospitalization. The health insurance policy provides ample coverage to an insured person and also provides Personal Accident coverage for parents. The policy can be purchased or renewed online.
  • New India Jan Arogya Bima Policy: This is one of the most effective health insurance policies from New India Assurance. This health policy is specifically designed to provide medical coverage to the people belonging to lower income group. Jan Arogya Bima is a cheap priced policy that can be afforded by anyone in the country.
  • New India Assurance Rasta Apatti Kavach Policy: Rasta Apatti Kavach Policy is of many car insurance and bike insurance services offered by New India Assurance. This motor insurance plan offers ample benefits and total coverage to the insured persons. The chief objective of this policy is to cover against various damages, different types of mishaps and theft. You can purchase and renew the policy online.
  • New India Householder’s Policy: The House Holder’s Policy from New India Assurance is specifically designed to meet up all the insurance requirements of a householder. This policy includes covers of 10 sections and attractive discounts can be availed depending upon the number of sections opted by a policy buyer.

New India Policy Renewal

The renewal of the policies purchased from New India Assurance must be given extra attention in terms of keeping the continuation on your chosen coverage. In the age rapid technological advancement, the New India Policy renewal can be performed instantly online. The renewal process of any New India Assurance Plan will take a very small chunk of your time so don’t get bothered. You can avail instant quotes on the type of plan you want to buy from the company’s website online. You may also grab some special deals on buying or renewing New India Assurance plans online. Below is a step by step procedure for online New India policy renewal process.

  • For online New India policy renewal, visit the official site of New India Assurance.
  • Next, chose the product from the list that you want to enjoy through online renewal.
  • After that, choose renewal option to renew your New India plan online.
  • In the following step, enter your personal details like customer ID, policy number etc to continue the online renewal process.
  • Once you are done, proceed forward to the payment option to finalize your New India policy renewal online.
  • After the payment has been made on your premium, you’ll receive a soft copy confirming your successful New India Policy renewal online.

How to File a Claim with New India Assurance?

The reason you purchase insurance policies is to get the benefits at the time of your needs when you file a claim. The procedure of filing claims with New India Assurance is characterized by rather simplicity, swiftness and transparency. New India Assurance holds a good reputation in terms of setting the claims in the best possible way. The company has different claim process for different products they have on offer. For instance, the claim process of health insurance policy is different from motor insurance policies and claim process for home insurance is different from marine insurance. But of course, there are some common steps that must be followed for filing any claim with New India Assurance.

  • To file a claim with New India Assurance, you will be necessarily required to intimate the insurer at your earliest. For instance, in case of registering health insurance claim with New India, there are two types claim procedures that you can choose from – Cashless Claim and Reimbursement Claim. And the procedure for both is somewhat different.
  • Just call on the helpline of New India Assurance to register your claim immediately.
  • Thereafter you will be guided with the further process of your claim procedure. You may be subjected to verification by the company. Once everything gets settled and approved by the company you will be required to show necessary details and documents regarding your insurance claim. And then you will be getting the claim amount as per your Sum Insured.

Conclusion

It can be concluded that New India Assurance, India’s Premier Multinational General Insurance Company certainly lets you enjoy a worry free life through the ultimate protection with their one of a kind insurance policies.

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Aggregate Rating Value on New India Assurance is 4.4 out of 5 (Total Rating Count: 39)

Aggregate Rating Value on New India Assurance is 4.4 out of 5 (Total Rating Count: 39)