Receives Award 3rd time in a row
Chennai, 9th April 2013: Cholamandalam MS General Insurance Company has been awarded as the best insurance company for “Overall Performance for the year 2011-12” in the Rashtriya Swasthya Bima Yojana (RSBY) scheme run by the Ministry of Labour & Employment, Government of India. The award was conferred at the National workshop held at Thiruvananthapuram on 8th April 2013 by Hon. Union Minister of State for Labour Shri. Kodikunnil Suresh. Chola MS is the only company to have received this prestigious award 3 years in succession. Around 12 (PSU and Private) insurers are currently participating in the RSBY scheme in various states of the country.
Mr. S. S. Gopalarathnam, Managing Director, Chola MS said on this occasion “Chola MS entered RSBY way back in 2008. It ties in with the Group’s values of helping the underprivileged in rural areas. Over the years, we have built a passionate RSBY team, which leaves no stone unturned to serve the rural masses. While this has won us many accolades in the last 5 years, what pleases me the most is to see lives being saved, because of our commitment and hard work. This Overall Performance award will further motivate our teams to excel in the RSBY scheme in the years ahead. The award was based on Key Performance Indicators like Level of Enrolment of Beneficiaries, IEC activities (Information, Education & Communication), Timely Payment of claims to hospitals and nominations by State Governments. Chola MS was nominated as the best Insurer by all the State Governments like Gujarat, Maharastra, West Bengal, Bihar and Jharkhand where it was participating in RSBY schemes.”
About Cholamandalam MS General Insurance Company (Chola MS)
Cholamandalam MS General Insurance Company Ltd. is a Joint Venture between Murugappa Group and Mitsui Sumitomo Insurance Group of Japan. Cholamandalam MS offers a wide range of products that include Accident, Engineering, Health, Liability, Marine, Motor, Property, Travel and Rural insurance for individuals and corporate. The company achieved a GWP of 1346 crores in 2011-12. The company has 92 branches and over 6000 agents across the country.
The company champions a brand philosophy of T3 – Trust, Transparency and Technology. The company has received various awards and accolades; noteworthy amongst them is “Innovation Leader Award 2012” by Fintelekt. The company also received the best insurance company for “In time Claims Settlement for the year 2011-12” in the Rashtriya Swasthya Bima Yojana (RSBY) scheme run by the Ministry of Labour & Employment, Government of India. The company has been awarded “Financial Insights Innovation Award” for innovation in mobile enablement – Claims Survey Process in the recently concluded Asian Insurance Congress held at Singapore.
Visit www.cholainsurance.com for more information about the company and its products.
About Murugappa Group
Founded in 1900, the 22314 Crores (USD 4.4 billion) Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including ten listed Companies actively traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Crucible and Sociedad Química y Minera de Chile (SQM). The Group has a wide geographical presence spanning 13 states in India and 5 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.
About Mitsui Sumitomo Insurance Company Limited (MSI)
Mitsui Sumitomo Insurance Company Limited is part of MS&AD Insurance Group Holding Inc, the largest Insurance group in Japan, with NPW of JPY 1,269 billion (INR 735 billion) at FY2011-2012. The company has wide international network of 878 facilities spanning 40 countries and regions, centered on the fast-growing Asian region. MS&AD Insurance Group Holdings, Inc was awarded the “General Insurance Company of the Year” award in 2011 at the 15th Asia Insurance Industry Award ceremony as being the most outstanding insurance company in the Asian insurance market during fiscal 2010. MS&AD Group Past Awards were as follows: 2009: Mitsui Sumitomo Insurance Group Holding, Inc. Corporate Social Responsibility Award. 2005: Mitsui Sumitomo Insurance Co., Ltd, General Insurance Company of the Year. MS&AD Insurance Group Holdings was also awarded the 12nd Rank among the world’s Most Admired Companies in the Property and Casualty Insurance field.