Chennai, November 30, 2009: Cholamandalam MS General Insurance Company Limited (Chola MS), a joint venture between Rs.15,907 crores (USD 3.14 billion) Murugappa Group and Mitsui Sumitomo Insurance of Japan, today became the first insurance company to receive the ISO 9001:2008 certification in Motor “Own Damage” claims from TUV India.
The certification authenticates Cholamandalam MS compliance with internationally recognized standard for quality systems and quality assurance in design, development and servicing of motor insurance claims.
Commenting on the occasion, S. S. Gopalarathnam, MD, Cholamandalam MS said, “This certification is a clear demonstration of our commitment to improve the quality and consistency of claims service to our customers. This is an important milestone in our journey towards process excellence leading to business excellence. This is a testimony of robustness of process and consistency of delivery to customers across 113 branch offices and the head office.”
In process of getting the certification, an internal audit program was conducted to understand the existing Quality Management System. Gap analysis was done by the team and followed by a detailed training on the revised process.
The ISO 9001:2008 Certification established by the International Standards Organization is a quality management system that sets a global standard for manufacturing and quality assurance processes. This certification also ensures that a company’s products and services are among the best in the world.
Chola MS offers a rich portfolio of insurance products and services for both retail and commercial segments. The wide range of products offered by Chola MS includes Accident and Health, Marine, Casualty lines, Property and Engineering besides Motor, Travel and Rural segments.
About Cholamandalam MS General Insurance Company (Chola MS)
Cholamandalam MS General Insurance Company Ltd. is a Joint Venture between the USD 3.14 billion 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.
About the Murugappa Group
Headquartered in Chennai, the Rs. 15,907 crores (USD 3.14 billion) Murugappa Group is one of India’s leading business conglomerates. Market leaders in diverse areas of business including Engineering, Abrasives, Finance, General Insurance, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, its 29 companies have manufacturing facilities spread across 13 states in India. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees. The Group has forged strong joint venture alliances with leading international companies like DBS Bank, Mitsui Sumitomo, Foskor, Cargill and Groupe Chimique Tunisien has consolidated its status as one of the fastest growing diversified business houses in India.
About Mitsui Sumitomo Insurance Company (MSI)
Mitsui Sumitomo is the second largest Insurance Group in Japan, with a Net Written Premium (NWP) of 12.39 billion USD in 2008. The Company has 729 sales bases, 257 claims handling offices and about 59000 agents throughout Japan. MS also offers its services globally with 63 sales bases in 38 countries and regions overseas. Mitsui Sumitomo Insurance Co. Ltd. was awarded the “General Insurance Company of the Year” Award in 2005 at the 9th Asia Insurance Industry Award ceremony held in Singapore. This has been awarded to MSI for being the most active non-life insurance company and for reaching the top of the foreign non-life insurers in the region.
For more details on this release, please contact:
Associate Vice President
Marketing and Corporate Communications
Cholamandalam MS General Insurance Company
Tel: 044 30445430
Cell: +91 9382809420
Associate Vice President
Tel: 044 28515294