National Insurance Corporation Limited

General information

National Insurance –The Nation’s Choice

National Insurance Company Ltd., India’s oldest general Insurance Company, was incorporated in Kolkata on 5th December, 1906. In 1972, after nationalisation it was merged along with 21 foreign and 11 Indian companies as one of the 4 subsidiaries of the Govt. owned General Insurance Corporation of India.

Headquartered in Kolkata, NIC has a network of around 2000 offices across the country and overseas in Nepal. It has a dedicated workforce of 15000 skilled employees and more than 50000 agents. NIC offers a bouquet of around 300 products to fulfil the insurance requirements of a wide spectrum ranging from industrial risks to rural insurance.

NIC is making lot of innovations and accomplishments in the twin fields of Product Development and Customer Service Delivery.
• First to introduce Office on Wheels in India for doorstep insurance
solutions.
• Pioneer in Bancassurance and Auto Tie ups in India
• Leading Insurer for Social Schemes like Pradhan Mantri Suraksha
Bima Yojana, Pradhan Mantri Fasal Bima Yojana (PMFBY).
• Dedicated Digital Marketing Cell to connect with online customers
• Customer Portals, Agent Portals to provide the customers
convenience of Self-Service and direct access to the
organizational network
• 24x7 live Chat support
• Instant Grievance redressal through established Integrated
Grievance Management System
• Social Media Connect to engage with users & provide instant
customer service

Strong Financial Performance (2016-17)
• NIC recorded its highest ever Premium Income of Rs 14,282 Cr
with a growth rate of 18.83%.
• The Net Worth of the company has also increased by 9% to
Rs.9544 Cr.
• The value of total investments is Rs24,513 Cr at Market Value.
• The Solvency Margin of the company is 1.90.

NIC continues to endeavour to fulfil its Vision of being the Most Preferred Non Life Insurer by building relationships and Growing Profitably.