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Insurance Chronicle Magazine:
Oriental Insurance Company Limited
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The Oriental Fire and General Insurance Company Limited was incorporated at Mumbai on September 12, 1947 as a public sector company and one of the four subsidiary companies of the General Insurance Corporation of India (GIC). The company was a wholly-owned subsidiary of Oriental Government Security Life Assurance Company Ltd., and carved to carry out general insurance business. It became a subsidiary of Life Insurance Corporation of India from 1956 to 1973, till the general insurance business was nationalized in the country.

 
 

The company is a pioneer in the Indian general insurance sector in laying down procedures and systems for smooth and orderly conduct of the business. The strength of the company lies in its highly trained and motivated workforce that has vast expertise in various disciplines. Oriental Insurance specializes in devising special covers for large projects, like power plants, petrochemical, steel, chemical plants, etc. With its head office at New Delhi, it has 26 regional offices and nearly 900+ operating offices in various cities of the country. It also has overseas operations in Nepal, Kuwait and Dubai. The company has various kinds of insurance covers to cater to the needs of both the urban and rural population of India.

The company has an advantage of an extensive network all over India. It caters to all sections and sectors of the society. It believes in actively participating in economic growth by being a dynamic organization catering to society with full commitment and efficiency. The main objective of the company is to serve the insurance needs of the entire community, provide services at reasonable cost, make optimum utilization of funds, maintaining global standards, minimization of losses, and retention of business.

Integrated Non-Life Insurance Application Software (INLIAS) has been installed in 1,018 operating offices, resulting in a 100% complete online solution for competitive and enhanced service to customers by facilitating them to pay their premium or lodge claims at any office within the country. It has also launched the first phase of web-portal, a duly integrated application to target the insurance needs of policyholders, potential clients, insurance intermediaries such as agents, brokers, surveyors, motor dealers, third party administrators, legal counsels, etc.

 
 

Insurance Chronicle Magazine, Oriental Insurance Company Limited, General Insurance Corporation of India, Economic Growth, Risk Management Technologies, General Insurance Sector, Third Party Administrators, Legal Counsels, Corporate Business Units, Credit Rating Agencies, Insurance Intermediaries.