About Us
New India Assurance Co Ltd
NEW INDIA ASSURANCE CO. LTD, founded by Sir Dorabji Tata in 1919, a Multinational General Insurance Company, today operates in 28 countries and headquartered at Mumbai, India. Our global business crossed USD 366 Million in March 2018.
We have been market leaders in India in Non-Life business for more than 40 years. We are the only direct insurer in India rated A-(Excellent) by AM BEST Company since 2007.
We have been rated AAA/Stable by CRISIL since 2014, indicating that the Company has the highest degree of Financial Strength to honor its Policyholder's obligations. We have been leading the market, apart from premium, in reserves & net worth for many years.
Indian Operations
Our Indian operations today span across all territories through 2452 offices, including more than 1339 Micro Offices. We have 17702 employees and 68389 tied agents as on 30th June 2017, providing insurance services to our customers. We have over 230 products. Our Indian operations have earned many awards & recognitions.
Foreign Operations
New India's overseas operations have a long tradition, dating back to the inception of the Company itself. In 1920, within one year of the incorporation of the Company, New India opened an office in London in the United Kingdom.
Today it operates in 28 countries through direct branches, agency operations, subsidiary companies, Representative office and Associates. In addition, New India has also equity participation in Insurance companies in Singapore, Kenya, Saudi Arabia.
Our London Branch has been in operations for the past 98 years and has a desk at Lloyds. Our operations in many countries like Japan, Mauritius etc. are more than 60 years old. . New India has a subsidiary company in Trinidad & Tobago at Port of Spain with branches in St. Lucia, Dominica, St.Maarten, Guyana and Anguilla and another in Nigeria viz. Prestige Assurance Plc, based out of Lagos. New India has a Representative Office in Yangon in Myanmar. New India has equity participation in WAFA Insurance (SICCI) in Saudi Arabia, India International Insurance Pte. Ltd in Singapore and Kenindia Assurance Co Ltd, Nairobi, Kenya.
Our Vision
To be the most respected, trusted and preferred Non-life Insurer in the Global markets we operate.
Our Mission
To develop General Insurance Business in the best interest of the community.
To provide Financial Security to Individuals, Trade, Commerce & all other segments of the Society by offering Insurance products & Services of High Quality at affordable Cost.
Our Values
Highest priority to Customers needs
High standards of Public Conduct
Transparency in operations
Our Culture
Courtesy and Caring
Initiatives and Innovation
Integrity, Trustworthiness and Reliability
Our Commitment
We shall
- Act courteously, fairly and reasonably in all our dealings with the customers.
- Make sure all our policy documents and claim procedures are clear and complete information is given about our products and services.
- Deal quickly and sympathetically with the grievances of the customer and resolve efficiently through nominated customer service officers in all operating offices. We will educate the client about grievance redressal mechanism including the system of grievance redressal through Ombudsman.
- Respond to all commercially viable General Insurance requirements of all categories including products for weaker section of the society at affordable price within 3 months from the date of such requirement.
- Continue to develop a dedicated, sensitized and professional workforce for efficient execution of roles assigned to them.
Have a regular monitoring and consultative process with all our service providers and set up monitoring mechanism for delivery of promised services to our customers.