"IFFCO-Tokio General Insurance Company Limited was incorporated in the year 2000. It resulted from the joint venture between the world's largest fertilizer manufacturer, Indian Farmers Fertiliser Co-operative Limited (IFFCO), and Japan's largest insurance group, Tokio Marine Group. IFFCO holds 51 percent share in the company, and the remaining 49 percent share is held by Tokio Marine Group.
It is the only insurance company with 100% owned distribution channel.
The company has a vast portfolio of general insurance products that cater to its customers' retail needs, such as Car, Two-wheeler, Health, Travel, and Home. For the corporate sector, it has property, liability, Cyber, Credit, Fine Arts, P & I, Errors & Omission Insurance policies. It has also introduced Sankat Haran Bima Yojana, Mahila Suraksha Bima Yojana, and Janata Bima Yojana for the rural sector. IFFCO Tokio General Insurance customers can access their vast network of 4300+ garages and 5000+ hospitals for availing cashless facilities. It also has a strong network of 20,000+ Agents and Branches across India.
IFFCO Tokio General Insurance Company was founded in the year 2000. Their sole aim was to be one of the leaders in the insurance industry by inculcating qualities such as transparency, fairness and quick response. Tokio Marine offers technical support for underwriting whereas Tokio Risk Consulting offers Risk Management to this general insurance company. IFFCO Tokio has a wide presence in rural areas and Tier B & C cities, too. It is the first private insurer to establish Bima Kendras, which are single person operated centres, to increase insurance penetration in rural areas at the customer’s doorstep. As and when these Bima Kendras reach desired size in terms of premium and growth potential they get converted into Strategic Business Units.
The mission, vision and values of IFFCO Tokio General Insurance Company are mentioned below:
Vision of IFFCO Tokio General Insurance
IFFCO Tokio General Insurance Company wishes to be the market leader amongst the rest of the insurers in customer satisfaction by inculcating values such as fairness, transparency and quick response.
Mission of IFFCO Tokio General Insurance
IFFCO Tokio General Insurance Company has a mission of winning the trust of international investors, corporates, cooperatives, industry and commerce in India.
Values of IFFCO Tokio General Insurance
IFFCO Tokio General Insurance Company believes in having a healthy competition amongst the other insurers to offer true value to their consumers. This Company believes in growth and development through best practices to enhance the life of its customers.
In 2013-14, the company won the National Award for implementing RSBY successfully. The award was given by the Ministry of Labour.
The company is present throughout India having 78 Strategic Business Units (SBUs), 171 Lateral Spread Centers (LSC) and 400 Bima Kendras.
The company‚ Äôs Gross Written Premium grew from Rs.213 crores in 2001-02 to Rs.3537.2 crores in 2015-16.
The employee force of this Company is 1500 spread over 350 towns.
Claims Ratio for Financial Year 2018-19:
Online Payment process
IFFCO Tokio General Insurance has made the online payment facility available for their customers. It is the most convenient ways that allows the customers to pay premiums with just a few clicks. All the policyholder needs to do is make the premium payment by accessing the IFFCO Tokio General Insurance website www.iffcotokio.co.in. For online payment, the policy holder can use his debit cards, credit cards, or net banking. Thus, with only a few simple steps, the policyholder can make hassle-free payment through the official website.
Offline payment process
You can directly pay IFFCO Tokio’s premiums at any of their branches nearest to you. This Insurance Company also offers offline payment service for their customers.
Drop boxes
Company branch – You can pay cash or deposit a cheque
Pay premiums through IFFCO Tokio Insurance Agents and Brokers
Buying on phone. It depends upon individual company
Banks, retail houses or any other commercial ventures that are channel partners of these insurance companies
Online Renewal Process at IFFCO Tokio General Insurance Company
It is strongly recommended to renew your insurance before expiry of the existing insurance. IFFCO Tokio General Insurance offers hassle-free renewal to their policy holders by making the online renewal process available. All they have to do is lo g in to the company website www.iffcotokio.co.in and select renew now option. Then follow the link leading to secure payment process. For online payment, the policyholder can use his debit cards, credit cards, or net banking. Thus, with only a few simple steps, the policyholder can make hassle-free online renewal through the official website.
Renew insurance plans provided by other insurers with IFFCO Tokio General Insurance
There are many general insurers today in the market. However, the belowmentioned reasons make IFFCO Tokio General Insurance Company win the game over the other insurers. Let’s have a look at them:
Reference: www.iffcotokio.co.in
Awards Won by IFFCO Tokio General Insurance Company
IFFCO-Tokio was honoured with the National Award for the successful implementation of RSBY by Ministry of Labor, Government of India for the year 2013-2014
IFFCO-Tokio won the CIO100 Super achiever Awards in 2012-2013
IFFCO-Tokio was honoured the "Best Employer Brand " at IPE BFSI Awards in 2012-2013
IFFCO-Tokio also won the AITA E-commerce Award in 2012-2013
Reference: www.iffcotokio.co.in
What kinds of policies are available online with IFFCO Tokio General Insurance Company Limited?
You can buy motor insurance, health insurance, travel insurance, home insurance online with IFFCO Tokio General Insurance Company Limited.
I own a Swift Dzire. Last weekend my vehicle met with an accident, but I wasn’t driving. Will IFFCO Tokio Company settle my claim?
You can certainly make a claim provided you meet the criteria mentioned below:
You should have a valid motor insurance policy for your vehicle
If you have taken insurance for a paid driver and have been paying the premiums regularly and the car is being driven with your approval
The person driving the car has a valid license because the insurance is given as per the seating capacity, which also includes the person on the driver’s seat.
Is there any waiting period when my medical expenses will not be settled by IFFCO Tokio, in case of any emergency?
After getting a new health insurance policy, starting from the date of the policy issuance, a waiting period of 30 days would be applicable. During this period, no hospitalization charges would be settled by IFFCO Tokio. However, this 30-day waiting period is not applicable for contingencies like accidental hospitalization and during the policy renewal period.
How many claims can I make each year if I buy a health insurance plan from IFFCO Tokio?
You can make any number of claims during the policy period. But, remember that the sum insured is the maximum limit under the health insurance policy.
What does your IFFCO Tokio Travel Insurance Policy doesn’t cover?
Buying a travel insurance policy can help you by making your travel stress-free. But, there are situations where the insurance might not be of any help:
Travelling against medical advice
Travelling outside home country for medical treatment or cosmetic surgery
Going for extreme, high-risk sports, like scuba diving and bungee jumping
Losses arising from when you are under the influence of narcotics or alcohol
What are the discounts that can be allowed under Private Car policies?
The below discounts are allowed under the private car insurance policies:
No claim bonus (NCB): Offered for having a claim free year
Voluntary deductible: Offered for sharing the claim expenses
Installation of anti-theft device: Offered for installing ARAI approved anti-theft device
AAI membership: Offered for having a membership of Automobile Association of India
Discount on own damage: Offered for a risk exposure experience
Will I pay more for using the online service than going to the insurance company or buying through an insurance agent?
No, you won’t be paying more for using the online services than going to the insurer or buying through an insurance agent. This is because online insurance plans are cheaper than offline ones. Insurers save a lot of money on paperwork and administration charges for which the benefit ultimately passes on to the insured.
