Reliance General Insurance Company Limited is a part of Reliance Capital Ltd. Reliance General Insurance is one of the front-runners when it comes to top general insurance firms based out of India. The market share of Reliance General Insurance is over 8% in the private sector. The distribution network of Reliance General Insurance consists of more than 12,000 intermediaries and 139 branches. The annual Gross Written Premium or GWP of Reliance General Insurance for the fiscal year of 2012-13 was Rs. 2,036 crore. Reliance General Insurance provides individuals, corporate houses and SMEs with a wide array of insurance products.
Early Days of Reliance General Insurance Company
The formation of Reliance General Insurance Company Limited took place on 17th of August in 2000. However, it was the October of 2000 when Reliance General Insurance was licensed from IRDA to carry out insurance business in India. Reliance General Insurance is solely endorsed by Reliance Capital, an Indian company while most insurance houses in India are aided by their partners from overseas countries. But, as per the media, Reliance Capital is searching for a suitable partner for adding value to Reliance General Insurance. Minor stakes of Reliance Capital has already been sold to Nippon Life, a Japan based company. The stakes were mainly from asset management and life insurance business.
Offerings of Reliance General Insurance
Consumers can avail a myriad of insurance products at Reliance General Insurance that range from Reliance health insurance products to other products pertaining to home, marine or travel sector. The Reliance General Insurance always strives to offer customized insurance plans in a bid to cater to the unique needs of every individual. Reliance General Insurance is considered as the settler when it comes to availability of Over-The-Counter home and health insurance plans.
Reliance General Insurance aims to make perfect score and set high standards of products and services. Reliance General Insurance also aspires to be the first choice of consumers in international and global markets.
Mission of Reliance General Insurance
- ✔Reliance General Insurance strives to have consumers’ insurance requirements satisfied in crucial juncture.
- ✔Reliance General Insurance seeks to provide customers with impeccable service
- ✔Reliance General Insurance makes effort to provide offer innovative products to customersReliance General Insurance wants to expand its reach by increasing its presence all over India and also in abroad countries
Goals of Reliance General Insurance
- ✔Reliance General Insurance make insurance affordable and accessible for all.
- ✔Reliance General Insurance keeps its prime focus on customers during all operations
- ✔Reliance General Insurance is obligated to keep the interest of the policyholders protected
- ✔Reliance General Insurance vows to bring maximum innovation in developing products
Grievance Redressal at Reliance General Insurance
Professionals at Reliance General Insurance are dedicated to have its customers’ grievances. The following are the steps to intimate Reliance General Insurance about the issues.
- ✔Customers can reach Reliance General Insurance by sending email and by calling on its toll-free number.
- ✔Alternatively, customers can pay a visit to any branch of Reliance General Insurance across India
- ✔Customers can also send letters in correspondence to the Correspondence Unit of Reliance General Insurance
If policyholders don’t get their desired solution after making the above-mentioned steps, they can send email to the Nodal Officer at Reliance General Insurance.
If this effort even fails to resolve the issue, policyholders can send email to the Head Grievances at Reliance General Insurance.
In case, all these steps taken at grievance redressal section at Reliance General Insurance don’t bring any satisfactory result, policyholders are finally left with one option of approaching the Insurance Ombudsman.
The following are the awards won by Reliance General Insurance in various ceremonies by various organizations.
- ✔Reliance General Insurance won the The Indian Insurance Awards for Best product Innovation General Insurance. The award was given by Fintelekt.
- ✔Reliance General Insurance got the National Awards for Marketing Excellence. The award was conferred for Marketing Excellence in BFSI sector and for Best use of Social Media in Marketing.
- ✔ET Best BFSI Brands 2016 was bestowed on Reliance General Insurance.
- ✔The Intelligent Enterprise Award 2016 was granted to Reliance General Insurance for Best in Enterprise Mobility
- ✔Reliance General Insurance was honoured with CMO Asia Social Media and Digital Excellence Awards 2015 for Best Email Marketing Campaign of the Year and also for Website of the year
- ✔Reliance General Insurance also won the Banking Frontiers Finnoviti Awards 2015 for Product Innovation for mobile pre-inspection system
- ✔The Economic Times Promising Brands Awards 2015 was conferred on Reliance General Insurance for Promising Brand 2015
- ✔In the same year, Reliance General Insurance also got the The Indian Insurance Awards 2015 for the General Insurance company of the year
- ✔Healthcare Leadership Award 2014 was given to Reliance General Insurance for Product Innovations and also for Innovation in quality of service delivery
- ✔QCI – D.L Shah National Quality Awards 2014 was bestowed on Reliance General Insurance for Commendation award for financial services
- ✔The Indian Insurance Awards 2014 was conferred on Reliance General Insurance for three accomplishments; General Insurance Company of the year, Technology innovation, Best product innovation
- ✔Lokmat BFSI Award 2014 was granted to Reliance General Insurance for three accomplishments as well; Best General Insurance Company, Best Insurer Technology Award and Asia Insurance Technology Awards
- ✔Reliance General Insurance was honoured with IAMAI, India Digital Awards 2014 for Best use of internet for social & economic development
- ✔In 2013, Reliance General Insurance became the only Indian company to win the prestigious Global Risk Awards for Risk Management- services provider for the year 2013
Achievements of Reliance General Insurance
Reliance General Insurance has already achieved quite a few significant milestones. Reliance General Insurance has been identified for its Quality Management System by Det Norske Veritas, a reputed organization for auditing quality standards. Reliance General Insurance is also India’s first ISO 9001:2000 certified insurance company for its uninterrupted offerings of General Insurance Products across India. Reliance General Insurance got license from IRDA in 2000 as the first ever general insurance company in India
Recent Event at Reliance General Insurance Company Limited
Reliance General Insurance has been in the news since its inception for various accomplishments. Here are some of the current activities that occurred with Reliance General Insurance.
Reliance General Insurance Made Collaboration with IndusInd Bank
Reliance General Insurance tied up in the May of 2016 with IndusInd Bank with a view to distribute general insurance products to customers. This partnership, has enabled Reliance General Insurance to extend its distribution channels as insurance products will be distributed across all IndusInd Bank branches. Reliance General Insurance pioneered Bancassurance tie-up after the recent IRDAI guidelines about multi bank partner.
Reliance General Insurance Continues 'Bancassurance' Campaign with Co-operative Bank
Reliance General Insurance continued its Bancassurance tie-up in August,2016 by collaborating with Shamrao Vithal Co-operative Bank (SVCB). Insurance products of Reliance General Insurance will be distributed through 194 branches of SVCB.
Reliance General Insurance Partners with CRY to Fight Child Labour
Reliance General Insurance has teamed up with CRY to increase public awareness and to battle out child labour in April of 2016. Reliance General Insurance has also come up with Twitter campaign on the same objective. The campaign of Reliance General Insurance invites people to tweet with hashtag #DONT_EMPLOY_LITTLE_ONES.
- 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