GENERAL

INSURANCE
shivali sareen
10808665
rr1804a12
 contents
 Objectives
 What is insurance
 Types of insurance
 IRDA
 Types of general insurance
 4 I’s in general insurance
 General insurance rules
 Claims procedure
 findings
 Recommendations
 conclusion

objectives
 What is INSURANCE


 Insurance may be described as a social device

to reduce or eliminate risk of life and
property.


The main function of the Insurance is to

provide protection against the possible
chances of generating losses.


 Types of Insurance

Life insurance
Non - Life Insurance
(general insurance)
Types of Insurance

Auto insurance
Travel insurance
Health insurance
Assets insurance
 IRDA
 The Insurance Regulatory and Development Authority
(IRDA) is a national agency of the Government of
India, based in Hyderabad.

 It was formed by an act of Indian Parliament known as
IRDA Act 1999.

 Mission of IRDA

 To protect the interests of the policyholders, to regulate,
promote and ensure orderly growth of the insurance
industry and for matters connected therewith or incidental
there to.

4 I’s of insURANCE service
 General insurance

Insurance of Property
Insurance of
Auto
Insurance of
Travel
Insurance of Health
 Auto insurance



Property coverage
Liability coverage
Medical coverage
 Home insurance

provides compensation for

 damage or destruction of a

 home from disasters

such as flood and

 earthquakes, that require

 additional coverage.
 Health insurance

Cover the cost of medical

 treatments
coverage for individuals
 to protect them against
 dental costs.
 Travel insurance




 Theft
 Accident
 Uncertainty







 Other Types of
Insurance Coverage
Product levels
Some of the General Rules

Reasonable care
Fraud
Miss-description
 Risks of loss not covered under general
insurance

geNerAL INSURANCE COMPANIES
1. Bajaj Allianz


2. ICICI Lombard

3. Iffco-Tokio General Insurance
4. National Insurance
5. New India Assurance Company
6. Oriental Insurance
7. Reliance General Insurance
8. Royal Sundaram Alliance
9. TATA-AIG General
10.United India Insurance
11. Cholamandalam MS General
12. HDFC Chubb General
13. Export Credit Guarantee
14. Agriculture Insurance Company
15. Star Health & Allied
 Claims procedure
 Call on our Toll Free Number to register your claim and
kindly keep the policy with you for reference
 Details like engine number, chassis number and
registration number will be verified by our customer
support executive
 The customer support executive will also need the
following details to register a claim:
 Contact number
 Accident date and time
 Description and location of the accident
 Vehicle inspection address
 Odometer reading
 Once the claim is registered, the customer support
executive will provide you with a claim reference
number

 Claims procedure
 The survey of the vehicle will happen within 24 hours
of intimating the claim
 You will be updated through SMS on every stage of the
claim OR you can click on the claim status to know
the status of your claim OR call on our Toll Free
Number and quote the reference number for the status
 Submit the completed claim form along with the driving
license, RC copy and an estimate of the loss to the
repairer / dealer / nearest insurance office. It is
preferable to submit an itemized estimate with
separate values You have to provide the required
documents to substantiate the extent of loss
 Excess, as per the policy terms and conditions, will be
deducted from the claim payable for every claim /
loss



 Documents required while making a
claim

 Claim form duly signed by the insured

 RC copy of the vehicle
 Driving license copy
 Policy copy (first two pages)
 FIR
 Original estimate
 Original repair invoice, payment receipt (for
cashless garage - only repair invoice)

 Benefits

Provide Protection
Collective bearing of risk
Assessment of risk
Prevention of Losses
Risk Free trade
Contemporary ISSUES IN INSURANCE
FINDINGS
RECOMMENDATIONS
 CONCLUSION

Insurance can be summed up as

“ Praying for the best …
… being PREPARED for the
WROST”.
any Question ?