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Cholamandalam MS General Insurance

From Wikipedia, the free encyclopedia

Chola MS General Insurance Company Ltd
Company typePrivate
IndustryFinancial services
Founded2001
HeadquartersChennai, Tamil Nadu, India
Key people
Suryanarayanan V, MD[1]
Products
ParentMurugappa Group
Mitsui Sumitomo Insurance Group
Websitewww.cholainsurance.com

Cholamandalam MS General Insurance Company Ltd (Chola MS) is an Indian insurance firm and a joint venture between the Murugappa Group, an Indian conglomerate, and the Mitsui Sumitomo Insurance Group, a Japanese insurance company.

The firm produces a range of insurance products, including motor, health, accident, engineering, liability, marine, property, travel and rural insurance for individuals and corporate insurance. The company achieved a Gross Written Premium of Rs. 13465 million in 2011 – 12. The company has 93 branches and over 6,000 agents across the country.[2]

The company's motto is 'T3' – 'Trust, Transparency and Technology'. Chola MS was named the best insurance company in India for "In time Claims Settlement for the year 2011–12" in the Rashtriya Swasthya Bima Yojana scheme run by the Ministry of Labour & Employment, Government of India.[3] IndusInd Bank offers Insurance for individuals as well as corporate customers in association with Chola MS.[4][failed verification]

The company has also been awarded "Financial Insights Innovation Award" for innovation in mobile enablement – Claims Survey Process at the Asian Insurance Congress held in Singapore in 2011.[5]

Organisational structure

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Currently[when?] there are around 704 Chola MS employees. This organisational structure is spearheaded by V. Suryanarayanan, managing director.[6][dead link‍]

Awards and recognition

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The company has been recognised as the best insurance company for "In time Claims Settlement for the year 2011–12" in the Rashtriya Swasthya Bima Yojana) scheme run by the Ministry of Labour & Employment, Government of India. This award was given for settling the claims in time for the hospitals offering cashless treatment facilities to the below poverty line families in various districts across the country.[7]

References

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  1. ^ "Chola MS launches new pan-India identity". The Hindu. 10 December 2010. Retrieved 10 December 2010.
  2. ^ "40% GWP growth for Cholamandalam MS General Insurance". The Financial Express. 2 January 2012. Archived from the original on 6 March 2014. Retrieved 28 June 2012.
  3. ^ "Chola MS receives Best Claims Settlement Award 2nd year in a row". APN News. 10 April 2012. Retrieved 10 April 2012.
  4. ^ "Insurance". IndusInd Bank. 10 April 2010. Retrieved 10 April 2010.
  5. ^ "Chola MS General Insurance bags Financial Insights Innovation Award". The Economic Times. 14 September 2011. Archived from the original on 6 March 2014. Retrieved 14 September 2011.
  6. ^ "Management Team". Cholainsurance.com. 1 August 2020. Retrieved 1 August 2020.
  7. ^ "Chola MS receives Best Claims Settlement Award 2nd year in a row". News Wala. 10 April 2011. Archived from the original on 15 April 2012. Retrieved 10 April 2011.
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