IFFCO Tokio General Insurance Company Limited is a joint venture between Indian Farmers Fertiliser Cooperative (IFFCO) and its associates, and Tokio Marine and Nichido Fire Group of Japan. It is one of the leading general insurance companies in India, offering a wide range of insurance products and services, including motor, health, travel, personal accident, home, and commercial insurance. The company operates through a network of branches and agents across the country and also offers online services for policy purchase and claims settlement.
What Is the Full Form of IFFCO Tokio
The full form of IFFCO Tokio is Indian Farmers Fertiliser Cooperative Limited Tokio.
What Does IFFCO Tokio Do
IFFCO Tokio General Insurance Limited was established in 2000. It was established as a joint venture between Tokio Marine Group, Japan’s largest insurance group, and one of the largest cooperatives, the Indian Farmers Fertilizer Cooperatives (IFFCO) Limited.
Tokio Marine Group holds the remaining 49 percent, while IFFCO Tokio General Insurance Company’s 51 percent stake is held by IFFCO. IFFCO Tokio General Insurance offers a comprehensive range of products for all business lines, including health insurance, motorcycle insurance, home insurance, travel insurance, and automobile insurance, as well as commercial insurance such as liability insurance and property and casualty insurance.
IFFCO Tokio General Insurance is also the first insurer in Japan to underwrite mega insurance for automobile and fertilizer companies.
The Fully comprehensive insurance improves premium outflow for customers as it relies on international tariffs and covers all risks from a single source. In addition to traditional insurance products, It also offers niche insurance products such as credit insurance, IT sector failure and outage policies, cyber insurance, and P&I insurance. It offers products such as Mahila Suraksha Bima Yojana, Janta Bima Yojana, and Sankat Haran Bima Yojana to the masses.
What Is the Claim Settlement Ratio of IFFCO Tokio
Generally, the Claim Settlement Ratio is a measure of the number of claims settled by an insurance company against the number of claims received. It’s a percentage that indicates the efficiency and effectiveness of an insurance company in settling claims. A higher claim settlement ratio indicates that the company is settling more claims as compared to the number of claims received and it is more likely to be a reliable insurance provider.
In 2019, IFFCO Tokio General Insurance resolved approximately 8.61 million claims and achieved a medical claims recovery rate of 92.65%. This insurer is a pioneer in the health insurance industry and is dedicated to making health insurance claims hassle-free. When choosing a health insurance plan, many people forget to check the insurance company’s claim rate. However, this is one of the most important parameters in choosing the right health insurance online.
With IFFCO Tokio General Insurance Company claim Settlement ratio, you can be confident that your insurance company will resolve your claim in a timely manner. There are two ways to settle health insurance claims in India – refund and cashless claim process.
How Do I Check My IFFCO Tokio Status
There are a few ways to check the status of your IFFCO Tokio policy:
Check Online: You can check the status of your policy online by visiting the official website of IFFCO Tokio and logging in to your account. Once you are logged in, you should be able to see the status of your policy and any updates or changes that have been made.
Customer Service: You can also check the status of your policy by contacting the customer service department of IFFCO Tokio. They will be able to provide you with information about your policy status and any other details you may need.
Mobile App: IFFCO Tokio also has a mobile app available on the play store and app store, you can download the same and check your policy status by logging in to the app.
Agent: You can also check the status of your policy by contacting the agent who sold you the policy. They will be able to provide you with information about your policy status and any other details you may need.
Branch: You can visit the nearest branch of IFFCO Tokio and check the status of your policy with the help of the representative there.
Frequently Asked Questions (FAQs):
Is Iffco Tokio a listed company?
No, IFFCO Tokio General Insurance Company Limited is not a listed company. It is not listed on any stock exchange. It is a joint venture between Indian Farmers Fertiliser Cooperative (IFFCO) and its associates.
Closing up
Now you got to know about iffco tokio general insurance company limited. It offers a wide range of insurance products and services including motor, health, travel, personal accident, home, and commercial insurance. The company operates through a network of branches and agents across the country and also offers online services for policy purchase and claims settlement.
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