Insurance is a nascent sector in India providing a wide potential for the players worldwide. The premiums of life insurance accounts to about 2.5 % of India’s GDP while the premiums of the general insurance accounts to about 0.65% GDP. In India the Insurance sector went through a number of changes when the Indian Government allowed the private companies to solicit insurance by allowing FDI up to 265%.The Indian Insurance scenario received a boost up as the global insurance companies are craving for a lion’s share. The Insurance Companies like LIC, Bajaj Alliance,ICICI Prudential are booming in this era. The list below will give the names of the best Insurance Companies of India.
List Of Top Insurance Companies Of India
Life Insurance Corporation of India :
This leading Insurance company of India was established in the year 1956 by the alliance of 16 non-Indian companies,154 Indian Insurance Companies and 75 provident. It has 100 divisional offices,2048 computerized branches,7 zonal offices and the company’s corporate office. It has introduced new strategies for the facilitation of the customers like the IVRS,ECS,ATM Premium payment facility and the company’s Info centers in Mumbai, Delhi, Chennai, Kolkata and many others cities.
This Indian Insurance company is a joint venture of Alliance AG,which is one among the largest Life Insurance companies and Bajaj Auto,one among the biggest 2- & 3 wheeler producers in the world. The Company has various plans for the customers like the Pension,Retirement,Life Time Care,Health Care,Life Insurance Online,Life Insurance Saving Plans, and online services like the Address change,Renewal Premium Payment etc.
Tata AIG Life :
This renowned life Insurance company in India offers a wide array of products related to life insurance for associations,individuals and businesses. The company offers high quality solutions to its corporate Indian clients. It renders services like the AIG Health First,AIG Health Life Protector, Tata AIG Life Hospi Cash Back, Tata AIG Life Maha Gold, Tata AIG Life Assure 10 Years and many others. The company is a joint venture of America International Group and TATA group.
- Birla Sun Life Insurance:
It is one of the major insurance companies in India and a joint venture of Sun Life Financials and Aditya Birla group. The company provides Life Insurance Solutions to meet the needs of Protection, Retirement and Saving .It has recently launched the Money back Plus Plan and offers Insurance programs like the Children,NRI,Riders,Health etc.
SBI Life :
This renders premium Insurance solutions like SBI Life-Smart ULIP,SBI Life-Group Criti9, SBI Life-Unit Plus Child Plan etc. It also offers services like the NRI services,Premium Payment Procedure,ECS Facility,RPI/RFI and many others. SBI Life is a joint venture of BNP Paribas Assurance and SBI.
Max New York Life:
This Life Insurance company in India provides the best solutions related to life insurance like children’s plan, retirement solution, Investment, Protection, Health,Savings etc. The company has 14 corporate agency tie ups, 33 bankassurance relationships and direct sales force at 14 locations. It is now covering 36 products related to life and health insurance.
Kotak Life Insurance:
This premier Insurance company in India offers insurance facilities related to Savings,Investments,Child,Retirement,Protection, Kotak Long Life Secure Plus,Kotak Long Life Health Plus etc. It opens up services like Insurance Guide, NAV, Premium Payment Options and many others.
HDFC Standard Life:
This is one of the major market leaders in the insurance sector in India. The company offers Insurance services like the Group Plans,Health Plans,Protection Plans,Retirement Plans,Savings and Investment Plans etc. The customer base of the company is about more than 7 million who depend on the company for pension,investment,banking needs.
Reliance Life :
The company based in India offers the best plans for Life Insurance in India. Reliance Capital Limited’s associate company is Reliance Life which is one of the leading private sectors in India. The company provides the Protection Plans,Child Plans,Retirement Plans and Investment plans and is also the ultimate solver of solutions for Groups and Individuals.
Tag : Insurance