About National Insurance Co. Ltd.
National Insurance Company Limited is the most experienced and profoundly the oldest non-life insurance company of India. National Insurance Company is one of the four Public sector undertaking general insurance company of India. National Insurance is the premier general insurance company to ideate and come up with customized general insurance plans and is very well-known for its customer-oriented services.
To promote the Swadeshi change and national purpose of Swaraj, the National Insurance Company (NIC) was established in Kolkata on 5th December, 1906 and worked as a subsidiary of General Insurance Corporation of India. In 1972, NIC was nationalised and it is now entirely owned by the Government of India. Even following 111 years of its establishment, NIC still reaches out as a precursor non-life insurance provider.
National Insurance offers insurance products in the following domains :
- Health Insurance
- Commercial Insurance
- Rural Insurance
- Personal Accident Insurance
- Car Insurance
- Two Wheeler Insurance
- Industrial Insurance
The Edge Offered by National Insurance Company
The insurance company administers more than 80 insurance services for individuals, family, spokespeople of small and medium enterprises and companies of various industries, organisations, underpinning companies and financial groups.
In 2015, the highest market share of India's motor insurance market was with National Insurance Company. The insurance company has been reckoned with the following awards :
- CIO Award by Green LT Enterprise Award 2013
- Certificate of Merit by Financial Inclusion Award 2013
- Top 100 CISO Awards 2013
National Insurance Company has attributed a rating of B++ by A.M. best implying a good financial strength and also ranked as an issuer credit grade of "bbb+.
Claim Settlement Ratio
In 2017-2018, National Insurance claim settlement ratio was :
- Motor: 121.67%
- Health: 115.55%