Shriram General Insurance Company is a joint venture between the Shriram Group, which owns 74% of the company, and South Africa-based Sanlam Limited, which owns the remaining 26%.
It was founded in 1974, Shriram Group’s total customer base exceeds 12, and his over 60,000 employees in its 3,000 offices across India. The company has a net profit of over Rs.22 billion and assets under management of Rs. 90, 000 Crore.
Shriram General Insurance Company Limited has a slogan “Be Insured…Rest Assured” which clearly defines the service parameters of this company. Jasmit Singh Gujral is the managing director and CEO of Shriram general insurance company. It won the Outstanding Growth Award two years in 2011 and 2012.
What Is the Claim Settlement Ratio of Shriram General Insurance
Shriram Life Insurance is one of the leading insurers in the life insurance industry. Insurance companies follow a simple, hassle-free claims process and a financial claims rate.
2020-21 is 95.12%, indicating rapid settlement of death claims. The CSR value indicates the credibility insurance company. The higher the CSR score, the more credible the insurance company is.
Understand the trends in claims settlement rates over the past three years.
| The year | 2017-18 | 2018-19 | 2019-20 | 2020-21 |
| CSR | 80.23% | 85.30% | 91.61% | 95.12% |
Shriram Life Insurance Company offers a simpler and hassle-free claims process. provided by the insurance company
Both online and offline modes of bill settlement to customers. Here are to notify the insurer of a claim:
Candidates should access the claim reporting page online from the company’s official website. Then fill in all requested documents from the billing department. You can also report and submit a damage receipt to your local insurance claim office branch. The billing document is then reviewed by the billing team and guaranteed payment is provided to the claimant.
What Is the Name of the Holding Company of Shriram General Insurance
The holding company of Shriram General Insurance is Shriram Capital Limited.
What Are the Benefits of Shriram Life Insurance
Shriram Life Insurance Company aims to offer life insurance products and solutions that cater to a wider range of people.
Benefits offered by Shriram Life Insurance Company are here.
Extensive Catalog:
Shriram Life Insurance Company has a wide range of catalogs and offers all kinds of insurance services under one roof. You can choose from lifetime plans, cancer prevention plans, parenting plans, savings plans, investment plans, retirement plans, and protection plans.
Double payment of old age and death benefits:
All plans offered by Shriram Life Insurance Company include dual insurance benefits (maturity and death benefits) for beneficiaries. As part of the maturity benefit, the policyholder is entitled to receive the maturity benefit as a lump sum. Conversely, if the insured person dies, the beneficiary or agent receives the death benefit of the insured person.
Rider Availability:
An emergency may knock on your door at any time. In preparation for such emergencies, Shriram Life Insurance Company promises its customers four types of Benefit Riders: Shriram Extra Insurance Cover Rider, Accidental Benefit Rider, Shriram Critical Illness Cover Rider, and Family Income Benefit Rider.
Flexible payment methods:
Shriram Life Insurance offers flexible premium payment modes, allowing premiums to be paid monthly, quarterly, semi-annually, or annually. Coverage periods vary from 8, 10, 12, and 15 years.
Award-winning customer-focused service:
Shriram Life Insurance Company is known for its customer-focused services. The company has received multiple awards for its commitment and determination. India’s Insurance Awards for Out-of-Urban Coverage, Businesswoman 2018, Best Life Insurance Policy Award in the Private Sector. Apart from these recognitions, Shriram Group also won the CII Award at Customer Obsession in 2019.
When Did Shriram General Insurance Start
Shriram General Insurance Company Limited is a non-governmental corporation incorporated on 28th July 2006.
Frequently Asked Questions (FAQs):
Is Shriram Life insurance listed?
Shriram General Insurance Company Limited is a non-governmental corporation incorporated on 28th July 2006. It is a public, unlisted company and classified as a “Limited Liability Company”.
Is Shriram Life Insurance Good?
Shriram Life Insurance is “good” or not as it depends on the individual’s personal preference and priorities. It is advisable to research the company and its products, read customer reviews, compare it with other insurance providers, and consult with an insurance professional before making a decision.
Is Shriram Life Insurance is government or private?
Shriram Life Insurance is a private company. It is not owned or operated by the government.
Who is the owner of Shriram Life Insurance?
Shriram Life Insurance is owned by Shriram Capital Limited, which is a holding company for the various financial services businesses of the Shriram Group. The Shriram Group is a diversified conglomerate, with interests in various sectors including financial services, chit funds, transportation finance, and microfinance.
Closing up
Shriram General Insurance Company Limited is a private general insurance company in India. It is a subsidiary of Shriram Capital Limited, which is the holding company for the various financial services businesses of the Shriram Group. The company offers different insurance products such as motor, health, personal accident, home, and travel insurance.