Universal Sompo General Insurance
The Universal Sompo General Insurance Company Limited is a private-public joint venture and India’s first public-private partnership in the general insurance industry. The company is headquartered in Mumbai, India. This general insurance company is a joint venture of two nationalized banks – Allahabad Bank and Indian Overseas Bank, one private sector bank – Karnataka Bank Ltd., one FMCG – Dabur Investment Corp., and a leading general insurer from Japan – Sompo Japan Nipponkoa Insurance Inc.
The company offers a wide spectrum of insurance products including health & critical illness, personal accident & disability, home, motor, property insurance, and other special products for corporates.
Benefits
- Expert Collaboration-USGIC boasts of a unique Indian and Japanese collaboration, where Sompo Japan Nipponkoa Insurance Inc. is a Fortune 500 Company. Universal Sompo General Insurance is the only company in the country with a public-private partnership.
- Hassle-free Claim Settlement-USGIC entertains almost all claims for settlement, and their claim settlement ratio is 99.23% and their claim incurred ratio, a comparison of the money paid by the company in claim settlements and the money received by the company as premium is 85.07%, for the year 2015-16.
- World Class Products- Universal Sompo health insurance offers a range of health insurance products, and the coverage of basic plans can be extended with add-on covers.
- Wide Hospital Network-With a Universal Sompo health insurance policy, you get access to cashless facilities at over 5000+ hospitals across India.
Plans Offered by Universal Sompo General Insurance
Universal Sompo health insurance plans are offered for a wide range of customer segments, along with a range of add-on covers, so you may avail the best possible coverage. Together with a huge experience and the wide expertise of the partner companies, Universal Sompo has good claim records and customer reviews.
Here are the popular Universal Sompo health insurance plans at a glance–
Individual Health Insurance
Group Health Insurance Policy
Critical Illness Insurance Policy
Frequently Asked Questions
What is a Health Card? Who is eligible for a Health Card?
Health Card is like an identity card issued to every person covered under the Universal Sompo Health Insurance policies. The Health Card entitles the insured to avail cashless hospitalization facility at any of the network hospitals of the company. All policyholders are eligible for Health Card.
How much time does it take to settle the bills after filing a claim?
Usually, reimbursement bills are settled within 7 working days of receiving the relevant claim documents.
Do Universal Sompo health insurance plans cover cosmetic surgeries?
No. Cosmetic or aesthetic treatments of any description and any complications arising thereof, are not covered. However, plastic surgery related to treatment of injury or disease will be covered.
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Review of Universal Sompo General Insurance Company Limited
USGI was founded in the year 2007 and since then, it has been offering a range of customer-oriented insurance products. USGI boasts of an impressive product portfolio that caters to individuals, SMEs, and large corporates. The Company has a pan India presence, with 113 Branches and 17 Zonal Offices, and offers about 102 IRDA approved products. Universal Sompo has a dedicated 24*7 Claim Care Helpline no. 1800 200 5142, and an impressive claims settlement ratio of 99.23%. A range of health insurance policies that cater to different segments of the society, along with add-on covers to suit various customers’ needs have made Universal Sompo health insurance plans a preferred customer choice.