Oriental Insurance Company Limited

The Oriental Insurance Company Limited was formed in the year 1947 as a wholly owned subsidiary of the erstwhile Oriental Government Security Life Assurance Company Ltd. The core intent to form Oriental Insurance was to cater the requirement of General Insurance for all the segments of Indian market.

In 2015-16, Oriental General Insurance earned a Gross Direct Premium Rs. 8611 crores.

Oriental Insurance made a modest beginning with a first year premium of 99,946 in the year 1950 and since then the Oriental Insurance has pioneered various general insurance products in India and has earned a reputation in the Indian Insurance industry for its smooth & orderly accomplishment of the general Insurance business.

Interesting Facts about Oriental General Insurance

  • Oriental insurance specializes in formulating special insurance schemes for numerous large projects like the power plants, steel & chemical plants, petrochemical industry etc.
  • Oriental Insurance also Apart from the large corporate, the company also focuses on catering the insurance needs of both rural and urban segment and hence has developed insurance products accordingly.
  • The services offered are backed by a team of highly competent team of professionals to render the best customer service.
  • The head office for the Oriental Insurance Company is located at New Delhi and has more than 31 Regional Offices & more than 1800 branch offices in almost of Tier-I & tier – II cities of the country.
  • Apart from its domestic presence, Oriental Insurance has expanded globally itself in Nepal, Dubai & Kuwait.
  • The total manpower strength of the company is about 14,000 employees and has recorded a massive premium collection of Rs. 8611 crores in the year 2015-16.

Product Portfolio – Oriental General Insurance

The Oriental Insurance Company Limited from the very beginning has been known for its various popular plans, which have been especially designed to provide protection to people from all segments in a comprehensive manner.

The products are as diversified as it could get, ranging from Individual to family and group to large corporate. All of the General Insurance plans are tailored to ensure optimum extent, affordability in premium and thus catering to the requirements of every consumer in India.

With the inception of New age technology, one can now buy and renew policies their Oriental Insurance plans online and also make their premium payment online using Credit Card / debit card or Net-banking.

Health Insurance

Oriental Insurance Mediclaim Plans

The list of all health plans of Oriental Insurance is as follows:

Individual Mediclaim Plan: Oriental Individual Mediclaim plan is designed to protect an individual in sturdy times due to medical exigency. The plan offers comprehensive Protection for any hospitalization expenses in India incurred due to a sudden illness or accident. Any resident individual only up to the age of 80 years can avail this insurance scheme and get insurance benefits for amounts ranging between Rs. 50,000 to Rs. 50 lakhs. Under the scheme one can avail the benefit of cashless treatment at any network hospitals. The benefits can also be doubled with as family package with attractive discounts on premium.

Happy Family Floater Plan: This is an all-inclusive family comprehensive health protection insurance floater plan wherein a consolidated sum Insured is offered for the entire family. One of the striking features of oriental family health care plan is inclusion of pre-existing diseases after 4 years. Also family member less than 60 years need not to undergo any medical checkup. The plan is available under 2 variants, which are Gold Plan and Silver Plan.

Gold Plan: The plan comes with an integrated cash allowance feature as per the sum insured limits, which could be between Rs 6 lacs to 10 lacs on a family floater basis. Apart from the other regular benefits, the features of Personal Accident cover as well as Life Hardship Survival Benefit makes this plan distinctive from other group plans available in the market.

Silver Plan: The provision of daily cash allowance is also included under this plan. The sum insured offered is between Rs 1 to 5 lacs on a family floater basis.

Overseas Mediclaim Plan: With Oriental India Travel Insurance plans a person travelling abroad can enjoy his trip without the trepidation of his personal health or the baggage he is carrying. The plan offers complete protection for all travel-related expenses, including medical & health related emergencies. The value added services such as Trip advisory, emergency cash assistance& ambulance services makes this much more money spinning. The sum insured is between 50,000 to 5 lakhs. The cashless services are also offered for any medical treatment done overseas in affiliation with Coris International. The plan is customized as per the need and purpose of travelling. The category under which this plan is offered is plan available as per requirement of the traveler.

  • Individual travelling abroad on Business or Holiday

  • Students travelling abroad for Studies.

  • Employees travelling under Corporate Frequent flyer Policy

Jan Arogya Plan: This is a tailored medical plan, especially for the lower & middle-income families. The benefits include reimbursement of Hospitalization charges at an affordable premium

Group Mediclaim Plan: This is an Ideal Mediclaim plan for a group of corporate employees or family member who wants a shield against any financial stress due to medical exigency. The scheme covers expenses incurred in lieu of Room charges, Nursing Expenses up to Rs. 5000 per day or 1 % of the Sum Insured whichever is lower. Apart from this, any other expenses towards purchase of essential medicines, Anesthesia, Oxygen, blood, Operation Theatre, etc. is also covered under the plan. However, any pre existing disease is excluded under the policy benefit till 4 years of policy start date. The group insurance plans are offered in three different variants, which are

  • Oriental Bank Mediclaim Plan - An elite group protection plan for the Savings account holders of the Oriental Bank of commerce.

  • PNB Oriental Royal Mediclaim Plan – A customized Mediclaim Policy for an Account Holder or Employees of the PUNJAB NATIONAL BANK.

  • Thana Janta Sahakari Bank Mediplus Plan – The plan is dedicated for the Account Holders or Employees of the Thana Janta Sahakari Bank, which is a cooperative society bank duly registered under cooperative society act of Maharashtra.

Health of Privileged Elders (HOPE) Plan: A tailored insurance scheme for the privileged senior citizens and meant to cover some specified old age disease. The plan is available under different Sum Insured categories, which are 1 lakh, 2 lakhs, 3 lakhs, 4 lakhs & 5 lakhs. The key features of this plan includes discounts on premium amount & No claim bonuses

Oriental Pravasi Bharatiya Bima Yojana (PBBY): Oriental PBBY scheme is intended to put forward special fortification to the Non- Resident Indians who are staying overseas for employment purpose. The Sum Insured under this plan is up to Rs. 10 lakhs in the event of accidental death / Permanent disablement / loss of employment. The plan can also be topped up on family floater basis for Rs. 50,000. The scheme is under the guidelines issued by the government of India for its national visit abroad.

Persoanl Accident Plan

The Oriental Insurance Company limited offers copious personal accident protection plans to cover Individual and his family from any invisible misfortune at every walk of life The various kinds of personal accident plans offered by Oriental Insurance are

  • Gramin Accident Insurance Plan

  • Janata Personal Accident Plan

  • Nagrik Suraksha Plan

  • Personal Accident – Group Plan

  • Personal Accident – Individual Plan

Gramin Accident Insurance Plan: As the name suggests this is a tailored personal accident protection insurance plan meant for the rural customers at an affordable premium. The plan covers events such as Death or Permanent Total Disablement, Permanent Partial Disablement or Loss of Limb due to an accident. The plan is valid for one-year sand subject or renewal. A free look period of 15 days is allowed so that the policyholder can review the terms & conditions of the policy.

Janata Personal Accident Plan: A comprehensive protection plan for customers aged between 10 to 80 years. The Plan benefits include compensation in case of Death or Permanent Total / permanent Partial Disablement or Loss of Limb occurred in an accident. The plan is valid for one-year sand subject or renewal. A free look period of 15 days is allowed so that the policyholder can review the terms & conditions of the policy.

Nagrik Suraksha Plan: This is another unique accidental protection plan, which covers various miscellaneous expenses such as expenses cost incurred in carriage of the dead body or funeral expenses apart from the regular death claim benefit. The plan is valid for 1 year and subject or renewal. A free look period of 15 days is allowed so that the policyholder can review the terms & conditions of the policy.

Personal Accident – Group Plan: The plan is designed for groups such as employee- employer / Self Help Group / Associations or any other formal group. The plan can be taken as Individual cover or even family cover. Once can Attractive discounts for premium payment in group accident cover plans.

Personal Accident Plan - Individuals: This is a simplified accident cover insurance plan for an individual without the hassle any medical checkup. The striking feature oriental personal accident plan is its Lifelong coverage basis successful renewals. The policyholder can get a 30 days grace Period to renew the Plan in case any premium payment is missed.

Travel Insurance

Oriental Insurance offers Travel Insurance to individuals who are travelling overseas for Business & Holiday or Study & Employment and the frequent Flyer under Corporate Frequent Flyer program. The scheme covers an array of events such as any accidental medical exigency or third party liable expenses for Indian national while travelling overseas. The sum insured is available from 50,000 to INR 5 Lakhs. The policyholder can also avail cashless treatment in partnership with Coris International. Under the education travel, the policy cover is between 1 month to 12 months and the maximum sum insured is USD 75,000. For the corporate flyers medical check-ups is not required.

Motor Insurance

Oriental Insurance Two Wheeler Insurance plans: Oriental Insurance understands the outlandish times one can get into when something happens to their two-wheeler. It takes toll on both emotion and finance of the owner. With its two-wheeler Insurance plan, oriental insurance offers a lending hand to the owners of two wheelers. The Protection cover in two-wheeler insurance is towards any loss or damage due to the any accidental event or natural catastrophe or any other manmade events such as theft, Burglary, riot. Apart from the vehicle, the policyholder can also avail protection for any loss to the personal belongings on additional premium payments of Rs. 400 or 650.

Oriental Private Car insurance plans: The private car Insurance scheme cocoons the private car and its owner-driver against any loss or damage in adversity such as earthquake, explosion, storm, flood, Fire, landslide, rockslide etc. The Cover is available for 1 year and subject to renewal. The exclusive feature under this plan is Emergency Service through TVS without any extra premium. Under the Personal accident cover the owner –driver of the said vehicle is endowed for an amount Rs. 2 lakhs in the case of death or permanent disability while traveling in the vehicle. Also the third party legal liability is covered to offer protection against any unseen legal liability arising due to accidental damages or permanent injury or death of a person. The third party sum insured limit is up to Rs. 7.5 lakh.

Under the Oriental Motor Insurance, no compensation is provided for a body Injury or death arising as a direct or consequential event due to usage of liquor or any drug or narcotic substance or as an act of suicide attempt or self sustained injury.

Oriental General Insurance Claim Process

Oriental Insurance Company understands the pain and suffering one goes through in the event of any death and loss. The background in which the insurance claim is done is generally one of unhappiness and grief. To keep all the hassle aside in claim process, Oriental Insurance has designed simplified claim process so that the claim can at least cushions the monetary fallout on the person or his family arising in cases of death or disability. The company records for a high claim ratio, which peaks about the company’s dedication for its policyholders. In event of a Death or disability or any loss as duly covered under the plans the nominee or policy holder should ideally inform the service provider on urgent basis and lodge the claim as per insurance plans they have availed. The general guidelines to lodge an insurance claim are given below.

  • An Immediate notice should be given to the nearest branch or plans issuing officer.

  • A Claim form needs to be provided along with all the relevant medical certificate and bills.

  • For death claim, the nominee has to submit:

    • Death Certificate of the insured

    • The Original Policy

    • Duly filled Claim Form

    • Medical & Postmortem Report

    • Any Police Report, if complaint is lodged

The death claims of persons assumed to be dead due to drowning can be settled only after 2 years of the claim submission along with the following documents:

  • Final investigation report & Police report

  • Any findings by the Customs or Port Authorities

  • Duly notarized Affidavit

Review of Oriental General Insurance Company

The company began its operations in 1950 with a first year premium of Rs. 99,946. However, in 1973 the Gross Premium increased to Rs. 58 crores and as of year ending 2015-16 the company grew progressively with a Gross Premium of Rs. 8611 crores. The company has 31 regional offices with more than 1800 operating offices. In the year 2014-15, the company registered a post-tax profit of Rs. 392.10 crores and on 31st March 2015, the solvency margin was 1.68.

Contact Details of Oriental General Insurance

Registered Address: Oriental House, A-25/27, Asaf Ali Road, New Delhi – 110002

Phone No.: 011-43659595

Toll Free No.: 1800118485 Or 011-33208485 (Normal Charges Applicable)

Email: For complaints/ grievance related to insurance policy or claims: csd@oritentalinsurance.co.in

For complaints/ grievance related to online insurance policy: portal.support@orientalinsurance.co.in