Cholamandalam MS General Insurance Company Limited is essentially a joint venture between Mitsi Sumitomo Insurance company and the Murugappa group. The former is a subsidiary of parent company Mitsui Sumitomo which is a leading insurance company based in Japan. It is the fifth largest insurance company in the entire world. On the other hand Murugappa group is a 3.8 billion USD conglomerate and is one of the leading business houses in India.
Growth of Cholamandalam
Cholamandalam offers different insurance services which include health, mishap, liability, marine, manufacturing, tour, motor, assets, rural insurance for individuals, SMEs and the corporate sector. Cholamandalam insurance has recorded rapid and accelerated progress in its growth and this is the reason that it has established itself as the fastest growing general insurance company in the country. It recorded a gross written premium of more than Rs. 960 crores in the assessment year of 2010-2011, and its customer base is increasing exponentially each year. The company is known for achieving an amazing growth rate of 23% almost every year. At this rate it is set to achieve pinnacles of success in the near future. The company has more than 90 branches all over the country and is expanding its network at a fast rate.
The team of Cholamandalam is experienced dedicated and highly professional. This ensures that the services provided by them are of a high quality standard causing their customer base to increase every day. The company provides integrated services and smooth transactions which facilitates work processes. The fact that it has tie ups with global insurers along with its reputation for quick settlement of claims and cash free health insurance settlements go a long way in enhancing its operational processes.
It has experience and expertise in different domains and has the capability to provide customer service of international standards. Some of these services include centralized issuance of policies, CRM cell renewal management etc. The company also has a toll free helpline which is available to all individuals 24x7 and makes things very convenient not just for its existing customers but also those who are thinking about doing business with Cholamandalam. The company also has a user friendly official website which provides complete information about its policies and information about the company itself. Chola MS also caters to all the insurance requirements of the corporate sector along with individuals. It is the first private insurance company in the country to get an ISO 9001-2008 certification in the motor claims division, which assures its customers about the high quality standards of service provided by them.
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Competent and exclusive insurance services
It is known for providing competent and exclusive insurance services, along with providing risk management consultancy to its customers. This is the reason that Cholamandalam insurance has become the preferred partner for risk management for many people in India. It also provides total risk management services in the domain of risk identification and assessment along with providing consultancy services in suggesting risk control and alleviation measures apart from insurance support services. Needless to say the company deserves the award of Risk Manager of the year 2010 at the eleventh Asian insurance awards ceremony.
People of India still have a long way to go as far as awareness regarding the importance of general insurance is concerned. Cholamandalam is doing its bit in this propagation of insurance services among the Indian populace by providing well designed and even customised insurance plans for general category in India. This is the reason that it has attracted a very large customer base in a short time and is set to be one of the leading insurance companies in the general sector in India.