Page 46 - Banking Finance June 2017

INTERVIEW

“Universal Sompo General Insurance

has always held Customer Service at
the helm of Business transactions”

Rajiv Kumar

Managing Director & CEO
Universal Sompo General Insurance Co Ltd

About Mr. Rajiv Kumar
Mr Kumar, started out with United India Insurance Co. Ltd as urban customers, Universal Sompo has been awarded with
in 1990, and then moved to IFFCO-TOKIO General Insurance "Customer Service Provider of the Year" in the 2nd Annual
in 2002.
Insurance India Summit 2017, "BFSI-Personal Line Broking
He has been with the company i.e. Universal Sompo General Initiative of Year" from ABP Network and "Skoch Order-of-Merit
Insurance Co. Ltd since 2007, and in his last role, he was 2016" award by the SKOCH Group. Our efforts to extend
the head of corporate planning, customer service, product
development and operations before taking over as insurance awareness to rural India on platform like
Managing Director & CEO of the company in Oct 2016. International Trade Fair-2016 have also been acknowledged by
Human Service Foundation Organisation. We have the privilege
Rajiv Kumar has completed his post-graduation from Delhi of being Top Insurance Partners in terms of Customer Service
University and is an alumni of the Insurance Institute of for Maruti Insurance since the inception of partnership in
India.
November 2015. Apart from that we are on the empanelled
panel of Insurers to extend Crop Insurance under Pradhan
In the crowded general insurance space how do
Mantri Fasal Bima Yojana (PMFBY).
you stand out against the other established
players? Your company has been primarily been promoted
Universal Sompo General Insurance has always strived to by Banks. How are you leveraging the existing
create a niche for itself in the already crowded general customer base to promote your products?
insurance space. We are driven by the mission to provide
The main driver of the company is our BANCA channel. The
World class services and products to our Customers and
Stable returns for our Shareholders. Universal Sompo strategic bank partners and their existing established
General Insurance has the best Claims Ratio in the Industry credibility in Indian market has assisted USGI in creating
which is a result of prudent underwriting practices and niche in insurance space in preliminary stages of business.
better canvassing of business under the knowledgeable and (i) For business, on an average BANCA partners
proactive thought leadership of the Management. contributes at about 30-40% total business of USGI. The
established customer data base of partnered banks
Universal Sompo General Insurance has always held have provided base for cross selling products as well
Customer Service at the helm of Business transactions. specially health products to bank Customers to make a
Providing superior values to our customers remains the strong existence in rural insurance sector. On an
pioneer philosophy which drives
Risk Solutions for our customers. “ The main driver of the company is our BANCA channel.
the wheels of Innovation and
The strategic bank partners and their existing established
For our various customer centric
efforts in extending the benefits of credibility in Indian market has assisted USGI in creating “
insurance products to rural as well niche in insurance space in preliminary stages of business.

46 | 2017 | JUNE | BANKING FINANCE

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