Navi General Insurance Company Limited
Navi General Insurance Company Limited, a subsidiary fully owned by Navi Technologies, was founded in 2016. It offers various insurance solutions including health insurance, motor insurance, property insurance, commercial insurance, and gadget insurance. It values trust and ensures customers that their best interests are prioritised. Transparency is a vital aspect and Navi General Insurance Company Limited excels in providing clear information about its products and claims processes. It aims to empower customers by offering competitively priced products and a user-friendly experience, promoting financial independence.
In the financial year 2021-22, Navi General Insurance Company Limited issued a total of 3,89,807 policies and received 11,954 claims.
Awards & Recognitions
Navi General Insurance Company Limited has achieved numerous awards for its outstanding performance –
It received the ‘Grand Prix Award’ in the year 2017-18 - recognising its exceptional services in the general insurance sector.
Navi General Insurance Company Limited was recognised with the ‘Iconic Brand Award’ by the Economic Times in 2018-19 for its consistent efforts in delivering high-quality insurance solutions.
It was honoured with the ‘Golden Globe Tigers Award’ for the most admired services in 2017-18.
It also received the ‘National Award for Marketing Excellence’ by Times Network in 2017-18 - recognising its commitment to providing top-notch services and products to its customers.
Claim Settlement Ratio
The Claim Settlement Ratio (CSR) is an important metric that helps you analyse the ability of an insurance company in processing claims. Navi General Insurance Company Limited achieved a CSR of 75.4% for the financial year 2021-22.
By looking at the Claim Settlement Ratio of an insurer, you can gauge their capability to handle claims and fulfil their commitments. A higher CSR indicates that they are more trustworthy and reliable. It is also vital to check the insurer's CSR track record over several years to ensure that they have been consistent in settling claims.
The solvency ratio is a metric that indicates an insurance company's financial strength and stability. It essentially measures the insurance company’s ability to successfully pay out the claims of its customers.
According to the regulations laid down by the Insurance Regulatory and Development Authority of India (IRDAI), insurance companies are required to maintain a minimum solvency ratio of 150%. Navi General Insurance Company Limited has a solvency ratio of 288% up to the quarter that ended on 31 March 2023.
Network hospitals have an agreement with your insurance company to offer cashless treatments. If you get treated in a network hospital, you don't have to pay upfront for your medical expenses and the insurer or their designated third-party administrator (TPA) settles the bill directly with the hospital. You will only be required to pay for expenses that are not covered by your policy, such as consumables, administrative fees, registration fees, etc.
Navi General Insurance Company Limited has a wide nexus of 10,000+ network hospitals where you can avail of cashless treatments. To find network hospitals in your area, you can visit https://navi.com/insurance/network-hospitals. It provides information about whether your preferred hospital is included in the insurer's network and the total number of network hospitals available in your vicinity.
Network garages are authorised service centres that have been approved by the insurance company to provide cashless repair services to your vehicle in the event of an accident or damage. So, if you get your vehicle repaired at these garages, you won't have to pay the expenses directly. The insurance company will handle the bills, and you will only need to pay the deductibles and any consumable charges that may apply.
Navi General Insurance Company Limited has a network of over 900 garages that offers cashless repair services. To find the number of garages listed with the insurer based on your location, you can visit https://navi.com/insurance/network-garages. With this link, you can also check the number of network garages available in your vicinity.
If you need help with your insurance policies or have any queries, you can contact Navi General Insurance Company Limited's customer support using their toll-free helpline at 1800-123-0004.
If you prefer written communication, you can send your inquiries or support requests to firstname.lastname@example.org.
In case of doubts, queries, etc. you can also connect with Navi General Insurance Company Limited via their alternative contact channels