IFFCO TOKIO General Insurance Company Limited

IFFCO TOKIO General Insurance Company Limited

IFFCO TOKIO General Insurance Company Limited, founded in the year 2000, is a joint alliance between Indian Farmers Fertiliser Co-operative Limited, the world’s biggest fertiliser manufacturing organisation, and Tokio Marine Group, one of Japan's top insurance providers.

It provides a comprehensive range of products covering various lines of business, such as car insurance, two-wheeler insurance, health insurance, travel insurance, and home insurance. It also offers corporate policies such as property insurance and liability insurance. Alongside these conventional offerings, it also provides specialised products such as cyber insurance, credit insurance, fine arts insurance, P & I insurance, errors & omission policy for the IT sector, and more.

Furthermore, it demonstrates its commitment to rural communities through initiatives like Sankat Haran Bima Yojana, Mahila Suraksha Bima Yojana, and Janata Bima Yojana to cater to the various needs of the masses. With a strong presence in rural areas, as well as Tier 2, 3, and 4 towns, IFFCO TOKIO General Insurance Company Limited has pioneered the establishment of Bima Kendras. These are single-person operated centres that bring insurance services to customers' doorsteps, thus enhancing insurance penetration in rural areas.

In the financial year 2022-23, IFFCO TOKIO issued a total of 72,33,712 policies and received 9,36,289 claims.

Awards & Recognitions

IFFCO TOKIO General Insurance Company Limited has garnered numerous prestigious awards for its exceptional achievements in the insurance industry -

  • The company was given the ‘L&D Excellence Award 2022’ at the 9th Future of Learning and Development Summit and Awards - organised by UBS FORUMS.

  • It was honoured with the ‘Best Good Company Initiative Award 2021’ by Tokio Marine Asia for its exemplary corporate initiatives that were socially responsible.

  • It was recognised with the esteemed ‘Mahatma Award’ for CSR Excellence on the 1st of October, 2021, for its exceptional efforts in addressing critical societal challenges, promoting inclusivity, and driving positive change.

  • It also received the ‘3rd Annual BFSI Technology Excellence Awards 2022’ in the ‘Best Digital Awareness Campaign’ category for its endeavours to spread awareness of the benefits of digital insurance solutions.

  • CISO Summit & Awards 2022 honoured IFFCO TOKIO General Insurance Company Limited with the ‘IT Security Influencer of the Year’ award for its outstanding contributions to promoting IT security practices.

Claim Settlement Ratio

The Claim Settlement Ratio serves as a crucial metric for evaluating an insurance company's efficacy in settling claims. In the financial year 2021-22, IFFCO TOKIO General Insurance Company Limited had a claim settlement ratio of 88.4%.

Analysing the Claim Settlement Ratio of an insurance company provides valuable insights into its capability to fulfil claims effectively. A high claim settlement ratio underscores its reliability and trustworthiness - highlighting its ability to support customers in times of need. It is also important to evaluate the insurer's Claim Settlement Ratio track record over the past few years to ensure consistency.

Solvency Ratio

The solvency ratio is a crucial metric used to assess the financial strength and stability of an insurance company. It serves as a reliable indicator of the insurer's ability to meet their obligations and pay out claims.

In accordance with the regulations established by the Insurance Regulatory and Development Authority of India (IRDAI), insurers are required to maintain a minimum solvency ratio of 150%. This ensures that they can effectively handle all their financial obligations with ease.

IFFCO TOKIO General Insurance Company Limited showcases a solvency ratio of 179% as of the quarter ending on December 31, 2022. This indicates that it possesses a healthy financial position with sufficient resources to fulfil claim obligations and other financial responsibilities.

Network Hospitals

Network hospitals partner with insurance companies to offer cashless treatments, relieving you of the burden of upfront medical expenses. So, if you seek medical care at a network hospital, the insurer or their designated third-party administrator (TPA) will directly settle your medical bills with the hospital. And, you will only be responsible for the expenses that are not covered by your insurance policy, such as consumables, administrative fees, registration fees, and similar charges.

IFFCO TOKIO General Insurance Company Limited has an extensive network of 7,000+ hospitals to offer cashless treatments. To find the network hospitals based on your location, you can visit https://www.iffcotokio.co.in/contact-us?tab=hospital. This tool allows you to check the number of hospitals in your area listed with your insurer as well as whether your preferred hospital is included in their network.

Network Garage

Network garages are authorised by your insurance company to provide cashless repair services in the event of an accident or damage to your vehicle. This means that when you choose a network garage to get your vehicle repaired, you need not pay for the expenses directly. The insurance company handles the bills and you are only responsible for paying the deductible and any consumable charges that may apply.

IFFCO TOKIO General Insurance Company Limited offers a wide network of 4,300+ garages for cashless repair services. You can access the list of garages affiliated with the insurer based on your location at https://www.iffcotokio.co.in/contact-us?tab=garage. It also provides you with information regarding the number of network garages available in your vicinity.

Customer Support

  • Toll-Free Helpline
    For any inquiries or assistance related to your insurance policy, you can get in touch with IFFCO TOKIO General Insurance Company Limited's dedicated customer support team at 1800-103-5499.

  • Email Support
    You can also reach out to IFFCO TOKIO General Insurance Company Limited for any queries or support by sending an email to websupport@iffcotokio.co.in.

If you have doubts, questions etc., you can contact IFFCO TOKIO General Insurance Company Limited via their alternate contact options as well -

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