Royal Sundaram Alliance Insurance Company, in an effort to further step up its service to customers, announced its integration with the centralized grievance redressal mechanism of IRDA.
 

Policyholders can now air their grievances through this Integrated Grievances Management System (IGMS) and keep a track of the same. The insurer promises to respond to insurance complaints, raised by unhappy customers within a specified timeframe.
 

IGMS is a standard platform to all insurance companies for...  Read More »

ICICI Lombard has bagged the contract to extend its health insurance scheme that will cover over 3.5 lakh households in Goa.

The deal was finalized through a bidding process where six other insurance companies participated. This included companies like National Insurance, Royal Sundaram and Tata AIG. ICICI Lombard out bid these insurers by quoting the lowest premium for implementing this scheme.

The scheme was launched by Chief Minister of Goa, Digambar Kamat under which every household...  Read More »

General insurance companies ICICI Lombard, IFFCO Tokio, Royal Sundaram, Bajaj Allianz, New India Assurance and National Insurance failed to comply with the guidelines laid down by the Insurance Regulatory and Development Authority (IRDA).

These six insurance companies had granted licenses to five group entities belonging to the same promoter entity M/s Maruti Suzuki India Ltd group, to act as corporate agents on their behalf.

Corporate agent means a company or firm which holds a license to...  Read More »

Zero Depreciation or ‘Zero Dep’ car insurance policies seem to be gaining momentum with increasing awareness amidst car owners in India.

Car owners until recently could not get a complete cover for their cars. Insurance companies would take depreciation of the car into account which would go up to 40% or even higher depending on the age of the car.

In 2009 however, this scenario changed completely. Some general insurance companies selling car insurance introduced add-on covers which would...  Read More »

The private sector general insurance company, Royal Sundaram Alliance, has announced its expansion plans by opening three new branches to its existing network.

 
The new branches will be located in Cuddapah in Andhra Pradesh, Tumkur in Karnataka and Dindigul in Tamil Nadu.

Royal Sundaram Alliance Insurance Company is a joint venture between India’s Sundaram Finance and UK’s second largest insurer RSA. It is the first private insurance company in India to be licensed post privatization. The...  Read More »

Royal Sundaram Alliance Insurance Company signed a memorandum of understanding (MoU) with Government of Bihar to provide health insurance to families that are below poverty line (BPL). This scheme is sponsored by the Government of India under the Rashtriya Swasthya Bima Yojana (RSBY).

Over nine lakh families in Bihar will get the benefits of this health insurance scheme. These are families that face a threat to their income earning capability when faced with a serious illness. Under RSBY,...  Read More »