United India Insurance Co. Ltd is one of the prominent insurers in India. The company offers a wide variety of auto insurance and types of other insurance policies to the Indian customers.
About United India Insurance Co. Ltd
United India Insurance Company Ltd (UIIC) has over thirty years of experience in the non-life insurance business segment. The company was incorporated by the amalgamation of 22 insurance companies, which was an initiative after the nationalization of General Insurance. United India Insurance Company Ltd is headquartered in Chennai, Tamil Nadu. It was founded in 1938.
United India started its business operations in 1938. In India, the business of general insurance was nationalized in the year 1972. The company was formed with the merger of the following entities:
- 4 Cooperative insurance societies
- 12 Indian insurance companies
- General insurance operations of the southern territory of Life Insurance Corporation of India
- Indian operations of 5 foreign insurance companies
Following nationalization, the business of United India grew manifolds and the company has set up 1,340 offices throughout India that are running with the help of 18,300 people. The company presently has over 1 crore policy holders.
The company has been in the vanguard of planning and executing multifaceted coverage for important consumers like GMR- Hyderabad International Airport Ltd, ONGC (Oil and Natural Gas Commission Ltd), Tirumala-Tirupati Devasthanam, and Mumbai International Airport Ltd. The company had a groundbreaking role in bringing insurance to the village people with significant execution of the following schemes:
- Vijaya Raji Janani Kalyan Yojana (encompassing 45 lakh women in Madhya Pradesh)
- Universal Health Insurance Program of Government of India
- National Livestock Insurance and several similar schemes
- Tsunami Jan Bima Yojana (in 4 states encompassing 4.59 lakhs of families)
United India also has a significant presence in over 200 level II and III towns and villages with its unique micro insurance offices.
Products of United India Insurance Co. Ltd
United India comes up with a slew of insurance policies to offer coverage for satellites to bullock carts. The products of the company can be broadly categorized into the following:
- Personal Accident
- Marine Insurance
- Fire Insurance
- Industrial Insurance
- Motor Insurance (vehicle insurance)
- Liability Insurance
Car insurance policies offered by United India Insurance Co. Ltd.
The company provides one of the most popular automobile insurance products in India. United India Insurance offers two types of car insurance policies. The first policy offers cover for damage or loss to the car and/or equipments as a result of fire, accident, lightning, self ignition, theft, burglary, riot, terrorist operations, strike, earthquake, intentional damage, cyclone, flood, landslide, and losses in transit by road, rail, elevator, air, lift, or inland watercourses.
The second type of policy covers the third party property damage and bodily injury and/or death liability, and personal accident cover for the owner driver.
Awards and recognitions of UIIC
The company has won the following awards and recognitions:
- ICRA (Investment Information and Credit Rating Agency) has awarded UIIC Ltd. with the 'iAAA' ranking for its claims paying capacity for the third consecutive year. This ranking shows the maximum claims paying capacity of the company, its powerful base, and its overall financial efficiency for fulfilling the claims of the policyholders.
- PCQuest, one of India,s leading Information Technology Magazines in India, has chosen the MPLS VPN project of UIIC as one of the most effectively carried out IT projects in 2007. The information of the project are available in the PCQuest Magazine June 2007 issue. The MPLS VPN project of UIIC was chosen following a stringent selection method where 250 IT projects of different companies in India were assessed. Later on, a panel of judges comprising well-known individuals had chosen the best 21 IT projects put into operation in 2007, in which the MPLS project of United India Insurance Company ranks significantly.
United India Insurance Co. Ltd.
# 24, Whites Road
Chennai - 600014