SBI General Insurance focuses on Health Sector

"Our focus in the State will continue to be on Motor and SME insurance. Our health business has also been growing," said the deputy CEO of SBI General Insurance, Andrew Farlow in Chennai Monday.

Speaking at a press meet here, he said this, "SBI General is committed to getting its customers back on their feet post any unforeseen disaster. This has been amply demonstrated during the Chennai floods where we were one of the first companies to deploy our team on the ground. We processed over 86% of claims within the first two months, eventually settling claims amounting to over Rs. 45 crore," he added.

SBI General Insurance Company Ltd currently has seven branches in Tamilnadu viz, Chennai, Coimbatore, Madurai, Salem, Thanjavur, Tiruchirapalli and Vellore. The covers are available in over 1,000 branches of State Bank Group. It further has 728 agents and 25 brokers to service both its retail and corporate customers.

"For SBI General Insurance, motor insurance business is doing well accounting for 51% of the policies sold. Fire insurance accounts for 25%. SBI General Insurance also has a growing health insurance line that contributes to 11% business for the company. The total premium collection from Tamilnadu accounted for Rs. 112.3 crore in FY 2015- 16. In the corporate product space, we offer fire, liability, burglary, marine, money, business package, machinery breakdown, electronic equipment and commercial vehicle insurance products," he further added.

He said, "In the health space, the Arogya Premier policy provides health insurance for HNI’s and covers the insured, spouse and two dependent children. Arogya Plus policy is designed to help individuals save tax while covering both OPD and hospitalisation expenses. One can take the policy for him / herself and family as well maximum up to four members (self + spouse + two dependent children). Arogya Top-up policy is designed for those who have some existing insurance cover for illness and would like to have additional insurance cover at low cost."