| History |
Reliance General Insurance Company Limited was originally incorporated as a public limited company with the name Reliance General Insurance Limited' on August 17, 2000. Thereafter, due to operational reasons, and pursuant to a resolution passed by the Shareholders on October 9, 2000, the name of the Company changed to Reliance General Insurance Company Limited' on October 12, 2000. Subsequently, The Company received a certificate for commencement of business on November 17, 2000 from the RoC. Further, The Company is registered with the IRDAI (registration number: 103) for carrying out the business of general insurance pursuant to the registration certificate dated October 23, 2000.
The Company is one of the leading private-sector general insurance company's in India. Based on the gross direct premium income ('GDPI'), the company is among the five largest private sector general insurance companies in India, according to the ICRA Report. It offers a comprehensive and well-diversified range of insurance products in the motor, weather and crop, health, fire and engineering, and marine insurance sectors, as well as in other miscellaneous insurance business lines. The Company also participates in a number of insurance schemes promoted by the Government, notably in respect of weather insurance, crop insurance and mass health insurance.
In addition to the company's own direct distribution through its branches, call center and website, its extensive multi-channel distribution network comprised individual and corporate agents (including bancassurance partners and NBFCs) as well as a significant number of brokers, and other intermediaries such as web aggregators. According to the ICRA Report, the company's distribution network comprised the highest number of individual agents of any private sector company in the general insurance industry in India.
The Company focuses on enhancing customer experience in order to retain and grow its customer base. This is reflected in particular in its consistent and continuing investment in IT platforms, designed to simplify customer service (both in respect of sales and claims) and also in its ability and desire to maintain a diverse product suite to meet the equally diverse needs of customers.
The Company is promoted by Reliance Capital Limited, an RBI registered non-banking finance company with business interests in asset management and mutual funds, life insurance, commercial lending, home finance, stock broking, wealth management services, distribution of financial products, asset reconstruction and proprietary investments, in addition to general insurance. Reliance Capital Limited is a part of the Reliance Group which has business interests in financial services, telecommunications, power, energy, infrastructure, and defense. The Reliance Group is led by Mr. Anil D. Ambani, one of India's prominent business leaders.
The Company has received numerous industry awards in recent years including:
* 'Model Insurer Asia Data & Analytics' (Celent Model Insurer Asia Award - 2017);
* 'General Insurance Company of the Year' (Annual Insurance India Summit & Awards - 2017);
* 'General Insurance Company of the Year' (ABP News BFSI Awards - 2017);
* 'Best Multi-Channel Integrated Marketing Campaign' and 'Best Overall Use of Social Media' (Global Marketing Excellence Awards - 2016); and
* 'Best Product Innovation' (The Indian Insurance Awards - 2016).
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