In today’s world, we highly depend on our insurance. The business of insurance runs on the estimation of fear of an individual, may it be any kind of fear, fear of a damaged car or losing a life. To evaluate the top 10 insurance company was never an easy task, still with more than 8 panels of writers came up with a common ranking, after hours of discussion. This amazing blog on the top 10 insurance company is brought to you by www.beatyourneed.com
10. Reliance Life Insurance Company ( 94.53% )
Reliance company needs no introduction, it is one of the leading companies in all field. It is one of India’s largest insurance company till date. The company itself holds, more than 10 million customers. This company has no bank support and this is the man reason behind why it is called the largest non-bank supported private insurance company. This company has more than 1200 branches across the city. This company has a claim settlement up to 94.53% approx.
9. Aditya Birla Life insurance ( 94.69% )
Aditya Birla life insurance is actually owned by the very famous firm Aditya Birla Capital limited, shortly known as ABCL. ABCL need no introduction, this has made a perfect image in front of their customers. It stands at number 9 in the top 10 insurance company in India. Abcl with its life insurance company claims it settlement at 94.69%, which again means that the insurance holder can get a loss of 5.31% if he puts a complaint to claim. ABCL has over 1600 people helping to make this plan better and work for more than 1.5 crore people in India.
8. Canara HSBC OBC Life Insurance ( 94.95% )
The Canara HSBC oriental bank of commerce is a joint venture where 2 Public sector firms are holdings its major shares and HSBC which the Asia’s largest financial and services group. It is known worldwide and is currently holding 8th position in the list of the best life insurance company in India. Canara Life insurance has a lot of branches all over the Asia Pacific making it easily accessible all over the continent. If we talk about OBC return or claim you can get up to 94.95% of the claim. The company has a very large network of over 115 million customers and over 10000 banks.
7. Tata AIA Life Insurance ( 96.01% )
Tata is one of the most known and trusted not only in India but all over the world. Tata has 128 fortune companies and AIA is one of them. AIA insurance provides you with various offers and plans. Tata life insurance has some really sorted mission i.e. to provide their customers with a very simple, healthy and best life insurance solutions. Tata managed to stand up into our position list with a no. 7 rank. Last year 2017-18 the company already did a business of over 1397 crores in Indian currency.
6. Exide Life Insurance Co. ( 96.40% )
Exide life insurance is one of India’s leading insurance company, which was established in 2001 and its headquarters is in Banglore. The company has over 15 lakh customers in India and again did a business of over 1200 crores in the financial year 2017-18. Exide has a 96.40% of claim settlement rule. The main attraction of the firm is Long term plans. Exide is mostly engaged in family term plans. The customers are quite satisfied with the performance of the firm.
5. ICICI Prudential Life Insurance company. ( 96.68% )
ICICI is a brilliant company and the company was awarded as the best customer services award recently. ICICI Prudential life insurance is owned and promoted by ICICI Bank. the company first started its fiscal year in 2001 and after then it has been consistently performing and are amongst the top players in the market. The main focus of the ICICI main aim is the customer service and obviously, customer is the king. ICICI proudly did a business of 1300+ crore last year. They offer long-term services and the firm last year settlement was of 96.68%, which is quite high. ICICI told in its interview that the success of the firm relies on five core values – Integrity, Boundaryless, Humility, Customer First, Passion.
4. SBI Life Insurance company ( 96.70% )
SBI life insurance company is one of the best government aided company. CEO of SBI life insurance is Mr Sanjeev Nautiyal, this firm has more than 23000 branches all over India. SBI could have been the best firm but it was just its claim settlement percentage which brought it down at no. 4. SBI also comes under 500 Fortune list of world’s biggest company. SBI life insurance is a joint venture with the biggest bank that is the State Bank of India and BNP Paribas. It has a quick SMS service, just message to 56161 or 9250001848. Sbi has a claim settlement of 96.70% which is very good and a lot of people rely on the brand name SBI.
3. HDFC standard life insurance ( 97.62% )
HDFC standard L.I. is a long-term insurance provider and its headquarters are in Mumbai. It basically deals in individual and group insurance. The company also has a liaison office that is situated in Dubai. It distributes its product through a multi-channel network. HDFC mainly deals with several types of plans some which include Protection, Pension, Savings, Investment, Health along with Children and Women plans. HDFC will only hold 61.65% of the shares and the balance shares to be undertaken by the other firms.
2. Max Newyork Life Insurance Company. ( 97.81% )
Max Newyork guarantees to have a very smooth and paperless purchase that too within minutes. Moreover, it has more than 210 offices all over the country and from 2017 to 2018 max has done a business of 511,541 crores in Indian current. To buy insurance plan you can contact 1860 120 5577 or 1800 200 3383. the firm has a claim settlement of 97.81 percentage and for a private sector firm, it is considered brilliant.
1. Life Insurance Corporation of India. ( 98.31% )
LIC is India’s largest insurance company holding more than 250 million customers. The mission of LIC is to ensure and enhance the quality of life of people through financial security by providing products and services of an aspired attribute of competitive returns. it is a state-owned company and an investment company headquartered in Mumbai. It is the largest company with assets of more than 350 million US Dollars. LIC has a claim settlement of more than 98.31% which is the best settlement percentage till date. LIC zonal office building was the tallest building in 1959. There are more than 1lakh 20 thouand employees working with LIC Life insurance company.