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IFFCO Tokio

TopCorporate Profile

IFFCO-Tokio General Insurance (ITGI) was established on December 4,2000 with a vision of becoming the industry leader through focus on customer satisfaction achieved by qualities such as fairness, transparency, and quick response. A joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and Tokio Marine and Nichido Fire Group.

IFFCO Tokio Logo

ITGI has quickly gained the trust of the Indian customers and secured its presence with 57 ‘Strategic Business Units’ and a vast network of over 100 Lateral Spread Centers and 280 Bima Kendras.

Tokio Marine and Nichido Fire Group is the largest listed insurance group in Japan and its experience in the insurance industry has enabled ITGI to design and offer a wide range of customized policies to customers from farmers to some of India's largest automobile manufacturers.

ITGI’s increment from a modest Rs 213 crore of GWP (Gross Written Premium) in 2001-02 to an astounding Rs 1639.5 crore in 2009-10 portrays the immense success of the company in the insurance industry, placing it among the top insurers in India. It also became the first company to underwrite mega policies for a fertilizer and an automobile company.

ITGI is the only insurance company in India to have a 100%-owned distribution channel called IFFCO-TOKIO Insurance Services Ltd (ITIS) to service its retail customers. With a focus on customer satisfaction, it conducts bi-annual surveys to get a feedback on its performance and efficiency.

TopManagement Team

ITGI being a relatively new company in the insurance business needed a fair amount of guidance at the time of its inception especially in the liberalized pricing regime. The members of the management team with their intellect and experience have helped the company grow and adapt to the ongoing changes in the insurance industry. These members hail from strong insurance and finance backgrounds and vast experience.

The following are the members of the team:

  • Mr. K. Srinivasa Gowda  (Chairman)
  • Mr. Lee King Chi Arthur (Vice Chairman)
  • Mr. Balwinder Singh Nakai (Director)
  • Dr. B.S. Vishwanathan (Director)
  • Dr. U.S. Awasthi  Director)
  • Mr. Rakesh Kapur  (Director)
  • Dr. P.S. Gahlaut (Director)
  • Mr. S.K. Kanwar  (Director)
  • Mr. Bahushrut Lugani  (Director)
  • Mr. S. Narayanan (Managing Director & CEO)
  • Mr. N.K. Kedia (Director Marketing)
  • Mr. Yasunobu Fukuda (Director Operations)
  • Mr. K.K. Wadhwa (Appointed Actuary)
  • Mr. H.O. Suri (Chief Investment Officer)
  •  Mr. M.S. Sethi (Chief of Internal Audit)
  • Mr. Sanjeev Chopra (Chief Finance Office)

TopProducts & Services

The IFFCO-Tokio General Insurance Company has introduced numerous insurance products in accordance with the varying needs of the customers ranging from commercial to retail insurance. It caters to both individual retail customers as well as corporate clients who need customization in the offered products to suit their requirement in their commercial activities. Moreover, these products are supported by a vast network of branches and agencies and enable quick and convenient service.

Following is the range of insurance products offered by IFFCO-Tokio:

  • Commercial Insurance
  • Retail Insurance
    • Motor Private Car Insurance Policy
    • Two-Wheeler Insurance Policy
  • Specialty Insurance
  • Product Philosophy

TopContact Details

Corporate Office:

IFFCO TOWER
4th & 5th Floors
Plot No.3, Sector 29
Gurgaon-122001
Haryana (India)
Ph: (0124)-4285499


TOLL FREE : 1800 103 5499

TopPrivate Car Insurance

In order to provide customers with complete satisfaction along with security and protection as per their requirements, IFFCO-Tokio endeavors to address all their insurance requirements with a comprehensive insurance policy. ITGI provides private car insurance policy which offers protection against the loss or damage to vehicle in the event of an accident, fire, theft, earthquake, floods, riot, strike, etc. The policy also covers third party liability which may arise out of death, injury or damage to third party.

Coverage

The policy is designed to offer cover for all possible situation of damage or loss to the vehicle including various natural calamities such as fire, explosion, self-ignition, lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide. Man made eventualities such as burglary, theft, riot and strike, malicious act, accident by external means, any damage in transit by road, rail, inland waterway, lift and elevator or air are also covered by the policy.

A personal accident cover is also a part of the policy and provides compulsory personal accident cover of Rs. 2 lakh for individual owner driver of the insured vehicle while travelling in, mounting or dismounting from the car. A personal accident cover for passengers which insures the injuries or death of the passengers in the vehicle can be opted for as well with the personal accident cover.

The third party liability cover provides protection against legal liability arising due to accidental damages, any permanent injury/ death of a person and/or any damage caused to the property involving the insured vehicle.


Key Benefits

The private car policy offers numerous benefits to the policyholder and enables optimum convenience in terms of claim processing and settlement along with assistance in various other issues. The foremost benefit is the facility of cashless claim across the company’s authorized garage network in India. Towing charges up to Rs. 1,500 are also covered in the policy. A personal accident cover up to Rs. 2,00,000 can also be opted for unnamed passengers in the vehicle.

There are certain bonuses and discounts that the customers can avail while buying motor insurance policy from IFFCO-Tokio. For instance, a No Claim Bonus may be availed on policy renewals if no claim has been made in the policy period, the discount for which can be as high as 50 percent. IFFCO-Tokio also offers the benefit of transferring the no claim bonus earned from the insurance policy from another company on presenting proof of no claim bonus from the previous insurer.

An additional discount of 5 percent up to a maximum of Rs. 200 can be availed by members of recognized Automobile Associations in India. Discount of 2.5 percent upto a maximum of Rs. 500 is also offered if the vehicle to be insured is installed with Automobile Research Association of India (ARAI) approved anti theft device.

For electrical and/or non-electrical items such as fog lights and music system installed in the vehicle, additional amount of premium is charged for coverage. Bi-fuel systems such as Petrol/ Diesel and CNG/ LPG certified by the concerned RTO, are required to be insured separately at an additional premium of 4% on the value of such kit.

Sum Insured

The sum insured is the Insured’s Declared Value which is calculated on the basis of the listed price of the vehicle with the manufacturer with the addition of the listed price of any accessories that are installed in the vehicle. The depreciation amount is deducted for every year according to the schedule provided by the Indian Motor tariff. For items not listed with the manufacturer’s listing price, the actual value of the items is taken after deducting depreciation and is added to the sum insured over and above the IDV.

TopTwo Wheeler Insurance

IFFCO-Tokio General Insurance offers a comprehensive Package Policy for two-wheelers covering them against loss or damage from various risks and providing insurance for Personal Accident and Third Party Liability. With this policy, the customer, in addition to the various benefits, can also avail discounts as per qualification.

Coverage

The policy is designed to offer cover for all possible situation of damage or loss to the vehicle including various natural calamities such as fire, explosion, self-ignition, lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide. Man made eventualities such as burglary, theft, riot and strike, malicious act, accident by external means, any damage in transit by road, rail, inland waterway, lift and elevator or air are also covered by the policy.

A personal accident cover is also a part of the policy and provides compulsory personal accident cover of Rs. 2 lakh for individual owner driver of the insured vehicle while travelling in, mounting or dismounting from the car. A personal accident cover for passengers which insures the injuries or death of the passengers in the vehicle can be opted for as well with the personal accident cover.

The third party liability cover provides protection against legal liability arising due to accidental damages, any permanent injury/ death of a person and/or any damage caused to the property involving the insured vehicle.


Key Benefits

The private car policy offers numerous benefits to the policyholder and enables optimum convenience in terms of claim processing and settlement along with assistance in various other issues. The foremost benefit is the facility of cashless claim across the company’s authorized garage network in India. Towing charges up to Rs. 1,500 are also covered in the policy. A personal accident cover up to Rs. 2,00,000 can also be opted for unnamed passengers in the vehicle.

There are certain bonuses and discounts that the customers can avail while buying motor insurance policy from IFFCO-Tokio. For instance, a No Claim Bonus may be availed on policy renewals if no claim has been made in the policy period, the discount for which can be as high as 50 percent. IFFCO-Tokio also offers the benefit of transferring the no claim bonus earned from the insurance policy from another company on presenting proof of no claim bonus from the previous insurer.

An additional discount of 5 percent up to a maximum of Rs. 200 can be availed by members of recognized Automobile Associations in India. Discount of 2.5 percent upto a maximum of Rs. 500 is also offered if the vehicle to be insured is installed with Automobile Research Association of India (ARAI) approved anti theft device.

For electrical and/or non-electrical items such as fog lights and music system installed in the vehicle, additional amount of premium is charged for coverage. Bi-fuel systems such as Petrol/ Diesel and CNG/ LPG certified by the concerned RTO, are required to be insured separately at an additional premium of 4% on the value of such kit.

Sum Insured

The sum insured is the Insured’s Declared Value which is calculated on the basis of the listed price of the vehicle with the manufacturer with the addition of the listed price of any accessories that are installed in the vehicle. The depreciation amount is deducted for every year according to the schedule provided by the Indian Motor tariff. For items not listed with the manufacturer’s listing price, the actual value of the items is taken after deducting depreciation and is added to the sum insured over and above the IDV.