Edelweiss Tokio Life Insurance Company Limited
Edelweiss Tokio Life Insurance Company Limited was founded in 2011 to transform dreams and aspirations into reality. It is a joint venture between Edelweiss Financial Services Limited and Tokio Marine Holdings Incorporated, which is one of Japan’s oldest and largest insurance companies. With a strong commitment to excellence, Edelweiss Tokio Life Insurance Company Limited employs its expertise and extensive resources to identify and overcome potential obstacles on the path to financial security. Its primary objective is to deliver uncompromising quality to its valued customers across all aspects of its services, such as interactions, advice, products, and post-purchase support.
Edelweiss Tokio Life Insurance Company Limited firmly believes in providing a safety net for everyone. And, to achieve this goal, it manages its operations and human resources in a cost-effective way. It aims to view every product, service point, and innovation through its customers' needs and preferences. And this customer-centric approach is deeply ingrained in its advisory process, product development, customer service, and claims management.
In the financial year 2022-23, it issued over 56,596 policies and received 725 claims.
Awards and Recognitions
Edelweiss Tokio Life Insurance Company Limited has received several notable awards for its remarkable achievements in the insurance sector -
In 2021, Edelweiss Tokio Life Insurance Company Limited received the distinguished ‘Life Insurance Company of the Year Award’ at the renowned Quantic Business Media BFSI Excellence Awards - recognising its unwavering dedication and exceptional contributions to life insurance.
It has been honoured with ‘Asia's Best Insurance Company Award’ for Digital Sales Channel and CSR activity at the prestigious Insurance Alerts Awards 2020 as a testament to its commitment to coming up with innovative sales channels.
Its commitment to developing innovative products that cater to the changing needs of customers resulted in the creation of Edelweiss Tokio Life Wealth Ultima. This cutting-edge, affordable ULIP (Unit Linked Insurance Plan) has led the Edelweiss Tokio Life Insurance Company Limited to receive the prestigious ‘Best Product Innovation Award’ in 2017 at the Indian Insurance Awards.
Its noteworthy endeavours were acknowledged by the Indian Insurance Awards in 2013 with the ‘Rising Star Insurer’ Award - reflecting its early accomplishments and the promising trajectory they are on.
From its humble beginnings as a Rising Star Insurer, it swiftly rose to the ‘Best Life Insurer’ in just three years. Their remarkable efforts and exceptional performance were honoured by the esteemed Outlook Money Awards in 2016.
Claim Settlement Ratio
The Claim Settlement Ratio (CSR) is an essential measure that indicates how efficiently an insurance company pays out the claims. In the financial year 2021-22, Edelweiss Tokio Life Insurance Company Limited had a CSR of 98.09%, which means they successfully paid out a significant number of the claims they received. And, its Claim Amount Settlement Ratio was 95.12%, which reflects the portion of the claim amount received that they have paid during this period.
By looking at an insurance company's claim settlement ratio, you can understand its capability to handle claims. The insurance company that has maintained a high CSR is considered the most trustworthy and reliable. It is also essential to check the insurer’s CSR over the past few years to ensure they have performed well consistently.
The solvency ratio is a vital factor when it comes to understanding how strong and stable an insurance company is financially. According to the guidelines set by the Insurance Regulatory and Development Authority of India (IRDAI), insurance companies need to have a minimum solvency ratio of 150%. This ensures that they have sufficient financial resources to fulfil their obligations.
As of March 31, 2023, Edelweiss Tokio Life Insurance Company Limited has an impressive solvency ratio of 220%. This indicates that it is financially strong and it can meet the claim payments and other financial responsibilities without any difficulties.
If you need help with your insurance policies or have any questions, you can reach out to Edelweiss Tokio Life Insurance Company Limited’s dedicated customer support team by calling their toll-free number, 1800-212-1212 .
If you require written communication, you can send an email to firstname.lastname@example.org.
Edelweiss Tokio also offers alternative contact options to connect with them in case of inquiries, issues, etc -