Shriram general insurance company is a leading insurance company that is also one of India’s thirty most significant companies. They provide affordable general insurance plans to individuals and small and medium-sized enterprises (SMEs). The company was founded in 1997 by co-founders Shriram Seetharam Patnaik, Narendra Modi, and S.Durga Bhimani. Shriram insurance has 20 offices across 12 states of India, including Delhi, Maharashtra, Uttar Pradesh, West Bengal, and Rajasthan.
The company’s founders were motivated by the need for more effective insurance solutions for SMEs, where insurers often charge higher premiums due to their perceived risk of higher claim payout because poor businesses cannot afford regular insurance coverages.
What is Shriram general insurance company?
The company was founded by R. Thyagarajan, AVS Raja and T. Jayaraman in 1997. They are the first general insurance company to provide flexible online insurance quotations, claims submission, and payments. The company opened its first branch in Delhi in 2001. The company is managed by a team of professional general insurance executives who have worked with some of the major international and Indian insurers, including MAPFRE General Insurance, INDUS International Insurance Company Limited (IICL), LIC General Insurance, Religare General Insurance Company Limited (RGI), Tata AIG General Insurance (TAIGI) and HSBC General Insurance Company Ltd (HSBC).
How does Shriram insurance company work?
The company has a conventional business model (such as all other companies do), but it is different from the companies that are usually based in Mumbai. The company’s biggest advantage is that it opens up new avenues for SMEs to have affordable general insurance. In this, Shriram general insurance offers better coverage and a more flexible approach for its customers for their business requirements.
As per their website, Shriram general insurance has over 900 offices across 12 states of India and provides services to 2,70,000 clients in direct sales and 1,80,000 clients through agents and brokers. The company has been providing its services since 1997.
Types of Shriram insurance company
Shriram general insurance provides four different insurance plans for individuals and businesses. They are:
1. Individual Insurance products
2. Business Insurance products
3. Online Broking service
4. New Business Development services for other insurers
Shriram general insurance also provides free life insurance quotes to individuals and businesses.
The corporate social responsibility (CSR) wing of Shriram General Insurance Company, called SG-Connect, supports the entrepreneurial community of India by providing them with financial aid, infrastructure help, business, and management support, etc. in the form of incubation centers, workshops, and mentoring sessions to help SMEs grow and flourish in the country.
Benefits with Shriram insurance
Shriram general insurance provides flexible and affordable insurance coverages to individuals and SMEs through customizable products. Therefore, from corporate to life insurance and health plans, you can choose the plan that suits your needs and requirements. Therefore, you can even apply for a policy online with the help of their site.
Another advantage of Shriram insurance is that it makes sure you get an offer based on the risks in your business. Therefore, it keeps track of the risk factors in your company and provides you with a customized insurance solution.
Shriram general insurance also helps its customers save on their costs by providing you with multiple options for claims submission. Therefore, you can make submitting your claim much easier by utilizing their online claim submission tool. You can do it from anywhere in the world or at any time, whenever you want to. The company also doesn’t charge any fees for claims submission or payments.