Top 10 General Insurance Companies in India

Led by Tapan Singhel, Bajaj Allianz General Insurance is a joint venture between the Allianz group, the world’s leading insurance provider, and Bajaj in India. It caters to a wide demographic of the country. It offers comprehensive individual and corporate plans for health, automobile, home, travel, marine, and even pet insurance. Bajaj Allianz has robust tech support through its app and can settle general insurance claims up to 20000 Rs. online.

Claim Settlement Ratio- 96.59%

Founded in 2016, Acko is the first tech-focused, direct-to-consumer insurance company in India. Acko General Insurance is a leading player in the insurance sector, with over 8 crore policies issued to 2.8 crore customers. Known for its 0 commission, paperless claims, and low premiums, insurances on Acko start from as low as 550 Rs. per month. The experts on Acko work with minimal paperwork and guide on tax deductions and other savings for its customers. 

Claim Settlement Ratio- 97.20%

HDFC General Insurance is one of India’s most trusted insurance companies, operating for over 21 years. It provides comprehensive and transparent policies that you can buy online on the HDFC website. Automobile accidents can be covered up to 15 lakh Rs. whereas home insurance cover stretches up to INR 10 crores. Apart from fast and online settlements, HDFC ERGO provides 24/7 assistance managers who have helped over 1.6 crore clients with hassle-free claims.

Claim Settlement Ratio- 98.49%

Founded by Kamesh Goyal in 2016, Go Digit is one of the fastest-growing insurance companies in India. Already amongst the top insurers, Go Digit aims to simplify the insurance process and declutter the formalities. They offer simple plans at low rates while targeting young individuals and companies to grow awareness. Apart from motor, health, and home insurance, Go Digit has a range of corporate products such as workmen's compensation, D&O insurance, contractor’s insurance, etc.

Claim Settlement Ratio- 96.09%

ICICI Lombard has been providing personalized insurance policies for two decades, with over 2 crore policies issued and 16 lakh claims settled. ICICI is a reliable brand, with over 13000 garage centers and tie-ups with over 9500 healthcare providers. It has an IL Take Care app where customers can analyze and purchase policies, initiate claims, renew old policies, etc. with a click. 

Claim Settlement Ratio- 97.07%

Cholamandalam MS General Insurance founded in 2001 is a product of the Murugappa group, who specialize in all types of general insurance claims. Chola MS has partnered with IndusInd Bank and has over 4 crore satisfied customers and 32 lakh settled claims. The Chola MS group focuses mainly on rural areas with comprehensive coverage of crop damage, transportation, equipment, etc. It also provides a Chola MS app for all insurance-related assistance.

Claim Settlement Ratio- 93.23%

Kotak General Insurance is another trusted name in the financial services sector. With over 1.3 crores policies issued, Kotak has some of the best claim settlement ratios in the industry. 99% of car insurance and 94% of health insurance claims were settled in FY 23-24. The company believes in fast settlements and long-lasting relationships with its customers. Kotak has policies suitable for all budgets and age groups with varying premiums and coverage.

Claim Settlement Ratio- 96.90%

SBI General Insurance is a leading insurance company backed by the SBI, offering customized policies based on the eligibility and income of its customers. They provide unbiased policy options which you can buy online through its app. You can also track your claim status and raise complaints while the team assists you 24/7. It is one of the biggest insurers in the market with over 20 crore customers to date, who can access the services through any of the 23000+ SBI branches in India.

Claim Settlement Ratio- 95.04%

Started in 1919, New India Assurance is a leading and premier provider of general insurance to individuals, families, and corporate clients. Active in all states and over 25 countries, New India Assurance takes great pride in its 104-year-old legacy, covering all types of motor, health, and home insurance. New India focuses on long-term commitment and fulfillment of financial goals while offering low-premium plans to make it accessible to all.

Claim Settlement Ratio- 92.93%

Oriental Insurance Company Limited or OICL is a customer-centric, legacy insurance provider, operating for over 75 years. It is a public sector insurer owned by the Government of India and administered by the Ministry of Finance. It has comprehensive motor policies for private and commercial vehicles, travel policies for domestic and international travel, rural policies for livestock and crop damage, personal accident policies, and health policies for all age groups. You can easily pay and renew your insurance through the online portal of Oriental Insurance. 

Claim Settlement Ratio- 90.18%