HDFC ERGO General Insurance

HDFC Ergo insurance Company Overview

HDFC ERGO General Insurance Company Ltd. is a collaboration between HDFC Ltd. and ERGO International AG, the primary insurance entity of Munich Re Group. The organisation offers a complete range of general insurance products right from Motor, Health, Travel and Home to Personal Accident in the retail space. HDFC Ergo also offers customized products like Property, Marine and Liability Insurance in the corporate space.

HDFC Ergo Insurance Company Vision and Values

Vision: The Company’s vision is to be the most valued admired insurance company that enables the continued progress of customers by being responsive to their needs.
Values: The Company is firm on its value system called SEED which stands for Sensitivity, Excellence, Ethics and Dynamisms.

HDFC Ergo Insurance Company Stats

HDFC ERGO maintains its position as one of the country’s largest private sector general insurers. The company has a market share of about 3.3% in Q1FY2017 (3.7% in FY2016) and ranks fourth in the private sector as on June 30, 2016. Diving deeper, the Motor category comprises of 33%2 for Q1FY2017, health comprises of 22%2 for Q1FY2017 and personal accident comprises of 13%2 for Q1FY2017, which are the key segments the company operates in.

The company is known to have sourced most of its business from corporate agents and draws significant support from its bancassurance channel. This is to drive growth of its loan-linked health insurance, personal accident and property insurance policies. Some of the other major distribution channels for the company include brokers which stands at 33% as on June 30, 2016, individual agents at 15%, direct business at 15% and other channels at 1%.

Claims Ratio in Percentage for Financial Year 2017-18:

Motor: 84.37%
Health: 52.58%

HDFC Ergo Insurance Company Offers

The Company offers a wide range of insurance products. They can be listed as-

HDFC Ergo Car insurance Policy
HDFC Ergo Commercial insurance Policy
HDFC Ergo Liability Only Policy
HDFC Ergo Health insurance Policy
HDFC Ergo Two Wheeler insurance Policy
HDFC Ergo Travel Insurance Policy
HDFC Ergo Personal Accident Policy
HDFC Ergo Home Insurance

HDFC Ergo Insurance Products and Services

Health Insurance

Good health has its own rewards. Hence, in order to maintain good health, one must invest in a comprehensive health insurance plan that takes care of all your health-related needs. HDFC Ergo is one of the best health insurance plans in the insurance space. Usually health insurance plans cover-

Family Without kids- 2 adults
Family With one kid- 2 adults + 1 child
Family With two kids- 2 adults + 2 children

HDFC Ergo has seven variants in the health insurance space. They can be listed as-

HDFC Health Suraksha Insurance policy

This policy has a sum assured of 3 to 10 lakhs and covers hospital room rent, doctor’s fee, ICU expense, organ donor expenses, expenses for medicines, pre and post hospitalisation expenses, day care procedure and expenses for medical treatments taken at home.

HDFC Health Suraksha Gold Insurance policy

HDFC Health Suraksha Gold Insurance policy covers day care expenses, post hospitalisation charges, in-patient treatment costs, maternity expenses, hospital room rent, doctor’s fee, domiciliary treatment expenses, organ donor expenses and emergency ambulance charges.

HDFC Health Suraksha Regain Insurance policy

The sum assured under this health insurance policy ranges from 3 to 10 lakhs. This plan covers day care procedure charges, maternity expenses, pre and post hospitalisation expenses, in-patient treatment costs, hospital room rent, doctor’s fee, domiciliary expenses, organ donor expenses and emergency ambulance charges.

Critical Illness Insurance policy

This plan exclusively covers critical illnesses with a sum assured of 2.5 to 10 lakhs. Critical Illness insurance plan by HDFC Ergo offers cashless hospitalisation, pre and post hospitalisation coverage and easy claim settlement.

Critical Illness Platinum Insurance policy

This platinum policy for critical illnesses has a sum assured of 2 to 10 lakhs and covers 15 types of critical illnesses. A differentiating factor from critical illness insurance plan is that this plan compensates for all income lost by the policyholder for treatment.

Commercial insurance

HDFC Ergo provides transparent and cost-effective travel insurance plans with comprehensive coverage for your commercial vehicles. Commercial vehicle insurance lets you cover the financial losses arising from accidents or damages caused to non-personal vehicles. As these vehicles perform strenuous tasks like covering miles in a day, loading and unloading of goods and covering rough terrains, it is vital that a business invests in a commercial vehicle insurance plan that covers all possible risks that it might be subjected to. The plan offered by HDFC Ergo has a cashless claim facility of over 5000+ garages across the country and covers damages caused by theft, accidents fire, explosion, lightening, terrorism etc. Certain addition benefits of investing in a commercial vehicle insurance plan include:

Reimbursement of towing charges of Rs. 750, Rs. 1500 or Rs. 2500, depending on the type of vehicle
Ambulance services

Two Wheeler Insurance

A known name in the motor insurance space, HDFC Ergo provides cost-effective two wheeler insurance plans that make riding a bike safe and convenient for a vehicle owner. Not only do these plans cover all possible risks to a two wheeler, but are also conveniently available online at competitive prices. Two wheeler insurance plans from HDFC Ergo provide a shield against accidental damages and a personal cover of Rs. 1 Lakh for the owner driver. The company provides 24*7 support to the vehicle owner, along with almost zero documentation and a transparent claim settlement process. However, there are certain exclusions in this insurance policy. They are-

Loss or damage outside India or during a nuclear war
Failure or mechanical breakdown
Damage caused while driving without license
General wear and tear
Depreciation
Damage by a person driving under the influence of drugs or alcohol
Two Wheeler insurance Plans

Travel Insurance

Travelling fills your soul with beautiful memories and in order to make memories that you would cherish for life, one needs to have peace of mind when travelling overseas. Hence, it is always wise to invest in a travel insurance plan that offers comprehensive coverage for all possible risks while travelling abroad. The company aims to cover medical expenses, trip cancellation charges, loss incurred during to damage or lost goods while travelling. Travel insurance plans by HDFC Ergo are extremely cost effective as they let you ‘pay per day’, allowing you to pay only for the days that you stay abroad. The company provides real time assistance and lets you buy travel insurance policies easily through an online platform. The policyholder also has the flexibility to cancel the travel insurance plan within 14 days of inception of the policy or extend the duration of the policy post factoring certain exceptions.

Personal Accident Insurance

Life is full of uncertainties. Hence, it’s always wise to be prepared of these uncertainties and invest in a personal accident insurance plan that takes care of you and your loved ones in the times of need. HDFC Ergo’s personal accident insurance plan is one such policy that ensures an individual’s family’s financial needs in case of permanent disability, temporary disability or death of the policyholder. The policy’s sum insured ranges from Rs. 2.5 lakhs to Rs. 15 lakhs, subject to the injury caused. A key highlight of personal accident insurance by HDFC Ergo is that anyone below the age of 65 is eligible to apply for this policy, and the insurance policy has no boundary limits. The company also offers a family coverage plan that covers your entire family under one comprehensive plan.

Home Insurance

Once you invest in a house, it is also important to protect your humble abode against all possible calamities and damages. Hence, HDFC Ergo has come up with a unique insurance plan that provides coverage to both the structure as well as contents of your home of up to 5 years at an affordable premium. The plan covers risks related to theft, burglary, fire, lightening, explosion, implosion, flood etc. An additional discount of up to 25% is offered for security features. Buying home insurance with HDFC Ergo is a hassle-free process as the documentation requirement is minimum. An individual has the flexibility to choose between two plans. Part 1 consists of coverage against fire combined with other perils to buildings and contents. However, the other part includes housebreaking and burglary occurring in your house.

Premium Payment process of HDFC Ergo Insurance Company

Online Payment process

HDFC Ergo understands the hassle of paying premium through offline mediums. Hence, the company allows policyholders to pay their premiums on an online platform by:

Simply logging onto www.hdfcergo.com and clicking on the ‘Renew Online’ button
Once done, the website opens in another tab where the policyholder will have to enter their policy number under the "Policy Number" tab.
Then the policyholder would click on "Proceed", which takes them to the "View Policy Details" tab.
Once the policyholder ensured that all details of the existing policy are valid, the individual can pay under the "Make Payments" tab.

Offline payment process

You can renew your insurance policy easily by physically visiting any HDFC Ergo branch and requesting for a renewal. The payment can be made in person at the branch. One needs to ensure that the insurance policy is renewed before the expiration date.

HDFC Ergo Renewal process

Online Renewal Process at HDFC Ergo Insurance Company

Online renewal of an insurance from HDFC Ergo is a hassle-free process. Here’s a step by step guide to get your insurance renewed-

Visit www.hdfcergo.com and click on "Instant Renewal"
Enter your policy details
Look for add-on covers to enhance your coverage for securing your asset
Fill the details, and your premium for renewal shall get generated
Make the payment and renewal for your insurance policy, and you’re done

Renew insurance plans provided by other insurers with HDFC Ergo insurance

HDFC Ergo is a flexible insurance platform that allows you to renew insurance policies of other insurance providers as well. One simply has to log on to www.hdfcergo.com and provide minimum details of their expiring policy and buy HDFC Ergo’s insurance policy online. One can also avail the No claim bonus benefits in full.

Awards and Achievements of HDFC Ergo Insurance Company Limited

HDFC Ergo boasts of a number of awards won at different events for various categories. Some of them are-

ICAI Awards for Excellence in Financial Reporting
SKOCH Order-of-Merit for Claims Survey Management (CMS) for qualifying amongst the Top 100-projects in India
Best Customer Experience Award of the Year (Financial Sector) by KamiKaze
ICAI Awards for Excellence in Financial Reporting Annual Report FY 2014-15 under the Category III – Insurance Sector
CMS Outstanding Affiliate World-Class Service Award 2015 by Chubb Multinational Solutions
Best Insurance Company in Private Sector – General
HDFC ERGO is awarded BEST GENERAL INSURANCE COMPANY in INDIA in 2014
Gold Shield ICAI Awards for Excellence in Financial Reporting for the year 2012-13
HR Excellence through technology award in 2013
BEST GENERAL INSURANCE COMPANY in INDIA
Best Employer Brand Award by IPE BFSI
Best Investor Education & Category Enhancement – Insurance by UTV Bloomberg - Financial Leadership Awards 2012
HDFC ERGO is awarded for Excellence in General Insurance in 2012
ICAI Awards for Excellence in Financial Reporting

HDFC Ergo General Insurance FAQs

What Kind of policies are available online with HDFC Ergo General Insurance Company?

There are various insurance plans offered by HDFC Ergo that suit individual needs. They are-

HDFC Ergo Car insurance Policy
HDFC Ergo Commercial insurance Policy
HDFC Ergo Liability Only Policy
HDFC Ergo Health insurance Policy
HDFC Ergo Two Wheeler insurance Policy
HDFC Ergo Travel Insurance Policy
HDFC Ergo Personal Accident Policy
HDFC Ergo Home Insurance

What Kind of policies are available online with HDFC Ergo Insurance Company?

All policies offered by the company are available online for investing and renewal.

How to renew HDFC Ergo’s insurance policy online?

Renewal of an insurance from HDFC Ergo online is a simple process.

Visit www.hdfcergo.com and click on "Instant Renewal"
Enter your policy details
Look for add on covers to enhance your coverage for securing your asset
Fill the details, and your premium for renewal shall get generated
Make the payment and renewal for your insurance policy, and you’re done

How can I contact HDFC Ergo for health insurance?

In order to invest in health insurance plans provided by HDFC Ergo, you can visit www.hdfcergo.com and select the health insurance plan that suits your needs. Alternatively, you could visit a branch of HDFC Ergo General Insurance, contact an insurance advisor and select a plan that meets all your health requirements.

Are all the major corporate hospitals on the network?

Yes, the company is proud to network with a total of 6000+ hospitals across India.

How does one get reimbursement for pre- and post-hospitalization expenses under this scheme?

For reimbursement of pre and post hospitalisation expenses, one needs to present the bills and duly filled claim form to the insurer. Post inspection, the bills are reimbursed by the insurance provider to the policyholder.

What is the procedure and documents required for filing a Loss of Checked-in Baggage claim?

The following is the procedure to claim loss of checked-in baggage

Download the claim form from the insurer’s website
Submit your duly filled claim form along with other required/relevant documents via email.
The company may however, require you to post the documents. If you do so, ensure that you make a copy of all the documents before you send the originals to your company.