@the_news_21
SBI General Insurance, one of the leading insurers in India, had put a foot forward to proactively support the flood damaged regions in Andhra Pradesh and Telangana.
The recent floods witnessed in Andhra Pradesh and Telangana had caused a widespread loss of property, roads, businesses and crops; and had left behind a trail of destruction in Hyderabad, Ranga Reddy, Nalgonda, Vikarabad, Sanga Reddy, Kama Reddy, Medak, Siddipet, Karim Nagar and Yadadri Bhuvanagiri districts in Telangana; and West Godavari, East Godavari and Visakhapatnam districts of Andhra Pradesh; in October 2020.
Being a responsible brand, SBI General had proactively tried to connect with the customers in these regions enquiring for any damages that can be covered under insurance claim, and thereafter had further taken steps to expedite the claims received from both the states. The flashflood had disrupted the businesses of SMEs having manufacturing units, factories, shops and godowns. Overall, at SBIG, approximately 120 property claims have been addressed largely covering SMEs, thereby helping these businesses get back on feet.
PC Kandpal, MD & CEO, SBI General Insurance said, “Through multiple communication channels, we had notified all our policyholders on ways to connect with us for claim settlement. We had received more than 120 claims for damage to property and businesses, and 100 motor claims post flood. Majority of these claims were from Hyderabad and neighboring districts. Keeping the impact of the damage in mind, on priority, we have settled claims of stalled business on a fast-track mode. We would like to request our customers to approach us, in case they have suffered losses due to recent flood.”
He further added, “We have recently been notified of Cyclone Nivara which is likely to affect parts of Tamil Nadu, Pondicherry and coastal Andhra Pradesh. In order to provide seamless claim service, we have made the necessary arrangements for our policyholders.”
About SBI General Insurance Company Limited:
With the strong parentage of SBI, we, at SBI General Insurance, are committed to carry forward the legacy of trust and security; and to become the first choice for every Indian’s general insurance needs.
Ever since our establishment in 2009, from 17 branches in 2011, we have expanded our presence to around 123 branches pan-India.
We follow a robust multi-distribution model encompassing Bancassurance, Agency, Broking and Retail Direct Channels. Today, our distribution family includes over 22,900 IRDAI certified advisors including the State Bank Group employees, and over 12,000 Agents to make insurance easily available even in the remote areas of the country.
On the distribution network front, we have strong distribution partners adding up our reach to every nook and corner of India, with SBI’s over 22000 branch network, other financial and digital partners. Our current geographical exposure covers 125+ cities pan-India with a presence of another 350+ locations through satellite resources.
We currently serve three key customer segments viz. – Retail Segment (catering to Individual & Families), Corporate Segment (catering mid to large size companies) and SME Segment; and are future-ready to serve the growing needs of Indians with new age-processes and services at affordable prices.
SBI General Insurance closed the financial year 2019-20 with a Gross Written Premium of Rs. 6840 cr at a YoY growth of 45%.
