National Insurance Company Limited stands as a leading name in the non-life insurance sector in India, recognized as the second-largest provider. Established on December 6, 1906, it has a strong market presence, especially in Northern and Eastern India. This article explores its journey, diverse insurance offerings, and why it remains a top choice for many.

Historical Background and Evolution

The company started with a mission to deliver comprehensive insurance solutions. A significant change occurred in 1972 when the General Insurance Business Nationalization Act led to its merger with 21 foreign and eleven Indian insurers, becoming part of the General Insurance Corporation (GIC). In 2002, it gained independence from GIC, becoming a Government of India-owned entity, allowing it to function with more autonomy.

Headquarters and Regional Influence

Based in Kolkata, West Bengal, National Insurance has established itself as a top general insurer in India and the Asia Pacific. Its strategic location and vast office network fortify its global insurance market presence.

Product Offerings and Insurance Categories

National Insurance's portfolio caters to diverse customer needs:

Personal Insurance Policies

• Health Insurance: Covers medical expenses, including hospital stays and surgeries.
• Motor Insurance: Offers protection for vehicles against accidents or theft.
• Property Insurance: Protects homes from risks like fire and natural disasters.

Rural Insurance

Products include insurance against agricultural risks from natural disasters and rural business protections.

Industrial Insurance

Designed for industrial entities, providing coverage against theft, fire, and other perils impacting industrial assets.

Commercial Insurance

Addresses transit risks and operational business risks.

Achievements and Recognitions

National Insurance has been lauded for its outstanding service, receiving accolades like Indian Insurance Awards for market penetration and recognition as an iconic brand by Economic Times.

Impressive Growth and Financial Performance

The company showcases substantial growth with premium incomes climbing from ₹1,007.82 crore in 2015 to over ₹100 billion in subsequent years. Contributions to the National Exchequer underline its financial success.

Reasons to Choose National Insurance Company

The company is known for:

• Efficient Claim Servicing: Boasts a claim settlement ratio of 104%, with 24/7 support.
• Diverse Insurance Plans: Over 200 products catering to varied sectors, including health, motor, and rural insurance.
• Awards and Recognitions: Accolades for service excellence highlight its industry-leading innovations.

Product Portfolio

National Insurance offers comprehensive plans covering health, motor, home, personal accident, rural, industrial, and commercial needs. Its robust distribution network with over 1,000 offices ensures widespread accessibility.

Claim Procedure

In the event of theft or damage, file an FIR, notify the insurer, and submit a claim form with necessary documents. The insurer will process and settle the claim, reflecting its commitment to customer service.

Distribution Network

With a workforce of around 16,000 and a broad distribution network, National Insurance ensures comprehensive coverage and service provision across India.

In conclusion, National Insurance Company’s extensive history, product diversity, and customer-centric approach mark it as a preferred insurer in India.