Oriental Insurance Company Ltd. is a public sector general insurance firm in India. The company was established on 12 September 1947 and it is a complete subsidiary of Oriental Government Security Life Assurance Company Ltd. To carry out operations of parent body general insurance. At the time of the nationalization of insurance business in India in 1956, it became a part of Life Insurance Corporation; LIC and they worked together until 1973. Moving forward, in 1973, Oriental became a subsidiary of General Insurance Corporation of India till 2003 when it was de-linked from parent firm and start running as an independent company. In 2003, the union government of India acquired all the company's shares from the General Insurance Corporation of India.
|Claim Settlement Ratio||113.86%|
|Number of Branches||1800+|
|Number of Employees||15000 approx.|
The company caters to almost every aspect of general insurance that includes health, motor, travel and so on. The business enterprise gives unique plans under every section of general insurance. There are numerous categories into which the coverage plans are divided which includes health insurance, property, and car insurance, rural coverage section that provides comprehensive protection against natural disasters for agriculture and rural economies among others.
The company offers multiple products under the health insurance category starting from plans for the individual to family. All plans are as follows and designed in a way that can offer wider coverage. It consists of 8 different health plans, viz.:
An effective individual health insurance plan offers the necessary financial cover to an individual during hospitalization or domiciliary hospitalization. It helps in dealing with unwanted medical emergencies such as accidents, sudden illness, surgery.
Happy Family Floater Policy is a complete health insurance plan for the entire family dwelling in India. This effective health insurance plan offers the needful medical cover to the entire family under a single insurance policy. The family includes self, spouse, children, parents, and parents-in-law.
It is one of the most effective health insurance plan which is specially designed for senior citizens. It offers health coverage to the people who are above 60 years.
Group Mediclaim- A health insurance plan that offers coverage to the entire group of individuals that can include family members, colleagues or someone else under a single insurance plan. This plan is comparatively affordable. The group Mediclaim policy will be available to any institution/affiliation/ group/ corporate firm of more than 50 individuals. Each insured needs to cover all eligible contributors (insured persons) underneath one group policy.
Focused on allowing the poorer sections of the society a medical insurance cover, this plan offers a desirable sum insured at very low premium rates. This plan gives domiciliary hospitalization and hospitalization rates starting at a low Rs. 70 for adults and Rs. 25 for daughter/son under 25 years of age.
Overseas Mediclaim policy - The plan is specially designed to offer coverage to you and your family when you are traveling or in a foreign country because of any reason. This plan ensures that you will enjoy the whole trip without any worries.
It is a powerful medical insurance plan that gives insurance together with hospitalization, convalescence benefit – and cash advantage as well.
The Janata PA coverage offered by Oriental is a plan offers compensation in the case of the insured sustaining injuries, solely and directly from an accident, which can provide a sum insured ranging from Rs. 25,000 to Rs. 5 lakhs.
Oriental motor insurance is a one-stop for all car insurance and two-wheeler insurance requirements. Oriental car insurance is offering complete cover for car and the two-wheeler insurance policy will take care of your bike. The company offers a wide range of motor insurance products to match different requirements of customers. Primarily there are 2 types of motor insurance plans:
Oriental Two Wheeler - A complete motor insurance policy with the benefit of third-party liability coverage at an affordable price. This plan offers complete coverage to you and your vehicle.
Oriental Private Car Insurance, an effective car insurance policy for your car. This plan covers the car against theft, damages that take place because of any natural or man-made calamities.
Oriental travel insurance is particularly designed for individuals who are frequent travelers or who are traveling for educational and business purposes. Oriental travel insurance offers comprehensive coverage for you and your family while you are on a trip inside the country or abroad. Travel insurance makes your journey stress-free and protects you from many risks and it can cover you in times of financial or medical emergencies that may occur at any time during the tour.
You can additionally purchase travel insurance online and also make online payments through debit/credit card or net-banking.
Oriental Sweet Home Insurance - A house is your biggest asset and we usually take all steps that are required to be taken to safeguard it. This customized coverage is aptly named as 'sweet home coverage'. This scheme is a version of the award-winning homeowner’s package coverage provided by Oriental and offers 3 special plans and each plan having 5 sections.
The Oriental Insurance Company has had a great track record of running a smooth and gainful business. The company has qualified and trained teams and has several different types of insurance plans that cover a rural and urban area as well.
Yes, the company is owned by the government and is a public sector company.
If the insured individual does not go for any claim in the policy period, he's entitled to get a 5% cumulative bonus for every such no-claim year up to a maximum benefit of 50%.
Sweet home coverage is package deal policy covering building, content, machinery breakdown of electrical/electronic items & personal accident cover for insured and spouse.
Yes, the policy can be easily renewed online. All you need to do is provide some basic policy details and it will be renewed in minutes
Yes, IRDA allows you to port your policy to any other insurer of your choice. Along with the Hospital list please also check product features/benefits.
Premium depends upon various factors viz. type, make, model, cc, usage, place of registration, past claims history, etc. of the vehicle. Therefore approach our underwriting office with vehicle details for exact premium.
If, however, the policy has already expired, fresh insurance can be obtained. Since a break in insurance has occurred, the vehicle will be physically inspected by a company official or an authorized representative/agency, at your cost. The entitlement of No Claim Bonus will be as per rules.
Yes, please approach the same office which had issued the policy, with a written request. A nominal fee is charged for issuing a duplicate policy copy.
In line with the initiative of the Government of India, we are providing 10% digital payment discount (subject to a maximum of Rs.2000 per policy) on purchase of NEW POLICIES through our Portal to individual customers in respect of the following products:
Last updated on 03-07-2020