Universal Sompo General Insurance Company Limited

Universal Sompo General Insurance Company Limited is a private-public partnership between three public sector Indian banks (Allahabad Bank, Karnataka Bank and Indian Overseas Bank), a leading Indian FMCG company (Dabur India Limited) and a private Japanese insurance company (Sompo Japan Nipponkoa).

As per the ICMR-BFM survey, this Company ranked 5th in the top 15 for providing non-life insurance products.

While Allahabad Bank has a shareholding of 30%, Indian Overseas Bank and Karnataka Bank have a shareholding of 19% and 15% respectively. Dabur India Limited holds 10% and the rest 26% is held by Sompo Japan Nipponkoa. Universal Sompo General Insurance Company Limited offers a range of individual as well as commercial general insurance products to its customers.

Interesting Facts about Universal Sompo General Insurance

  • The share capital of the company is 230 crores.
  • The three leading banks promoting the company have an aggregate asset base of Rs.314, 017 crores which shows that the insurer has a firm footing in terms of solvency.
  • The insurer's mission is to provide world class products as well as services to customers to increase revenue and provide stable returns to its stake-holders.

Product Portfolio – Universal Sompo General Insurance

Motor Insurance

Motor Private Car: This policy provides coverage to private cars against damages caused by any type of natural or man-made calamities and when the car is in transit by road, rail, water or air. Moreover, any financial liability faced due to bodily harm caused to a third party or for damaging third party property is also covered by the plan. There is an inbuilt Personal Accident cover for the owner-driver. There are optional extensions as well as optional add-ons which can be chosen to increase the scope of coverage offered by the plan.

Motor Two-wheeler Insurance: This policy provides comprehensive coverage for a two-wheeler and covers it against any damages faced through natural or man-made disasters. A third party liability cover is also present along with a Personal Accident cover for the owner-driver which covers accidental death and disabilities. Three types of policy extensions can be taken for loss of electrical and non-electrical accessories, legal liability to paid driver, cleaner or workman and personal accident cover for the pillion rider. Add-ons are also available for increasing plan coverage.

Two-wheeler Long Term Package Policy: This is a comprehensive two-wheeler insurance policy which can be taken either for 2 or 3 continuous years thus eliminating the need of annual renewals. A 5% and 10% discount is given for buying the policy for 2 and 3 years respectively. The policy allows an incremental NCB discount on renewing a long term policy with another long term policy.

Health Insurance

Individual Health Insurance: This is a simple health insurance policy which can be taken by an individual or his family. The policy provides basic health insurance coverage features like hospitalization, domiciliary treatments, pre and post hospitalization coverage, etc. The maximum allowed Sum Insured is Rs.5 lakhs and the maximum entry age under the plan is restricted to 55 years.

Senior Citizen Health Insurance Policy: Individuals over 60 years of age can buy this policy for their health insurance requirements. The policy covers hospitalization including pre and post hospitalization expenses, day care treatments, day care procedures, domiciliary treatments, ambulance charges, daily allowance, expenses of accompanying person, etc. Free health check-ups are provided after every 3 years. There is also an optional critical illness cover which covers 6 major illnesses and pays the Sum Insured on diagnosis of any of the covered illness.

Complete Health Care Insurance: This is a comprehensive health insurance plan which can be taken for the entire family. You can opt based on individual sum insured or as a family floater. This plan comes under three variants: Basic, Essential and Privilege. The maximum Sum Insured available under the plan is Rs.10 lakhs. The salient coverage features allowed include accidental dental treatments, AYUSH treatments, out-patient treatments, post-bite vaccination, convalescence benefit, maternity cover, restoration of Sum Insured, etc. Various optional covers are also provided under the plan for customizing it and ensuring a comprehensive cover.

Hospital Cash Insurance Policy: An individual can buy this policy for self or for the entire family. The maximum per day hospital cash benefit starts from Rs. 500/day to Rs.3000/day as per the plan you opt. The plan pays three types of benefits. One is a fixed lump sum amount which is payable if the insured is hospitalized. Second is another fixed amount payable in case the insured is admitted to the ICU. Third, the plan pays a convalescence benefit if hospitalization is for more than 21 days. Premium discounts are also allowed for choosing a long term, for covering family members and for covering a group.

Critical Illness Insurance Policy: This is a specialized fixed benefit health insurance plan which covers 11 critical illnesses. If the insured is diagnosed with any of the listed illness, the policy pays the Sum Insured to him irrespective of the actual costs of treatment of the illness. The policy is available both as an individual plan and/or a family. But the sum insured will be on individual basis only. This plan does not require medical check-ups up to 55 years of age. Entry age between 5 to 65 years old.

Personal Accident Cover

Individual Accident Policy: This policy covers an individual against accidental injuries suffered by him or her. There are three coverage options. The first one covers accidental death. The second one covers accidental death, permanent total and partial disability. The last one covers accidental death, permanent total and partial disability and temporary total disability. Various add-ons are also available like transportation cost, cost of clothing, ambulance costs, child education fund and loss of employment.

Travel Insurance

The policy should be bought while going on a trip abroad. The plan protects the insured against financial contingencies faced when travelling internationally. The coverage features include medical expenses, dental treatment, repatriation of remains, hospital daily cash allowance, loss and delay of baggage, loss of passport, hijack distress allowance, financial emergency assistance, personal liability, personal accident, trip delay or cancellation, etc.

Pravasi Bhartiya Bima Yojana: This policy is designed for emigrants who can buy the policy before leaving India. The policy covers accidental death and disability, transportation and airfare for attendant, hospitalization expenses, maternity expenses, hospitalization expenses of family members, day care treatments, employment contingencies, repatriation expenses and legal costs. Emigrants can buy the policy for 1, 2 or 3 years.

Domestic Travel Insurance: This is a travel insurance policy designed for trips taken within the country. Coverage is available up to 65 years and the plan gives discounts for covering 2 or more family members. The policy covers medical treatments and evacuation, dental treatments, repatriation of remains, accidental death, partial or total disablement, personal liability, emergency hotel accommodation, home burglary insurance, pre-existing illnesses, missed departures, pet care, catastrophe expenses, etc.

Other Plans

  • Motor Passenger Carrying Vehicles
  • Motor Goods Carrying Vehicles
  • Motor Miscellaneous Vehicles
  • Group Health Insurance Policy
  • Group Personal Accident Policy
  • Janta Personal Accident Policy
  • Loan Secure Insurance Policy
  • Aapat Suraksha Bima
  • Sampoorna Suraksha Bima
  • Swarna Gramin Bima Yojna – Individual & Group
  • Surva Vidyarthi Bima Yojna
  • Saral Suraksha Bima

Bancassurance Plans by Universal Sompo

  • Allahabad Bank Health Care Plus
  • K Bank Health Care
  • IOB Health Care Plus Policy

Commercial Insurance Plans by Universal Sompo

Burglary PolicyFarmer's Package PolicyAll Risk Insurance Policy
Workmen's Compensation PolicyShopkeepers Insurance PolicyStandard Fire and Special Perils Policy
Fidelity GuaranteeCattle Insurance PolicyMarine Cargo - Specific Policies (Inland & Export/Import)
Money InsuranceHouseholder's Insurance PolicyMachinery Breakdown Policy
Office Package PolicyJewelers Block Insurance PolicyElectronic Equipment Insurance
Contractors All Risk InsuranceErection All Risk InsuranceBoiler Pressure Plant Insurance
Industrial All Risk InsurancePublic Liability (Act) InsurancePublic Liability (Industrial & Storage Risks)

Universal Sompo General Insurance Claim Process

Motor Insurance Claims

  • In case of an accident, the insured should immediately call the insurer at 1800 22 4030. The company would guide the policyholder with the next steps.
  • In case of a loss, the vehicle should always be attended upon and the insurance company should be informed. The company would arrange for a survey after which repairs would be done and claim would be paid.

Personal Accident Insurance Claims

  • In case of any accidental death or disability, the company should be informed immediately at 1800 22 4030.
  • The company’s executive would guide the insured with the required process.
  • Relevant documents would have to be submitted for making a claim. These documents include claim form, policy copy, claim intimation, FIR, death certificate, post mortem report coroner’s report, etc.

Travel Insurance Claims

  • For making a claim from North, Central or South America, the insured can approach April USA Assistance INC, 11900 Biscayne Blvd#510, Miami, Florida 33181, USA. Phone numbers are 18775367264, +13056987757, + 13053572100. You can fax at +13056980176, +13058917840, visit the website www.april.com or email to assistance@april-usa.com

  • For making a claim from Continental Europe, UK & Ireland, Africa and Pakistan, you can approach April International Assistance, 110, Avenue de la Repablique 75011, Paris, France. Tne contact numbers are 80041414444, +33(1)41612307, +33(1)41612300. Fax number is +33(1)44511693, email Id is ops@April.fr and the website is www.april.com.

  • For making claims from South & South East Asia, Middle East, Australia & New Zealand, you should approach Heritage Health TPA Pvt Ltd 1102, Raheja chambers 213, free press journal road Nariman point, Mumbai-400021, India. The contact numbers are 1800 22 4004, +91(22)66547965(24hrs), +91(22)66547960/+91(22)66547961. Fax can be done at +91(22)66546812, email id is heritagehealth@vsnl.net and the website is www.April-heritage.com

Health insurance claims

  • For cashless claims, the company should be informed within 24 hours of emergent hospitalization or 48 hours before planned hospitalization at 1800 200 5142. The insured can visit the network hospital with his id card and fills the ‘Cashless Request Form'. The form is sent by the hospital to the company.
  • For reimbursement claims the company should be informed within 24 hours of emergent hospitalization or 48 hours before planned hospitalization at 1800 200 5142. The insured should undertake treatments and then submit the relevant bills for reimbursement of expenses incurred.

Review of Universal Sompo General Insurance Company Limited

If you are interested in buying any policy from Universal Sompo General Insurance Company Limited, you can give a call to Coverfox at 1800-209-9970 and obtain all required details about the plans offered.

Contact Details of Universal Sompo General Insurance

The company can be reached in the following ways:

Write to - Universal Sompo General Insurance Company Ltd., Plot No - EL-94, KLS Tower, TTC Industrial Area, MIDC, Mahape, Navi Mumbai 400710.

Call – the customer care number of the company is 1800 22 4030, 1800 200 4030, 022 - 27 63 9800, 022 – 39133700. For health-related queries or feedback you can call on 1800 200 5142 or 022 – 39 63 5200.

Fax -1800 200 9134

Email – for customer queries the id is contactus@universalsompo.com. For claim related queries, the id is contactclaims@universalsompo.com.

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