Om Kotak Mahindra Insurance Company and Career Opportunity 21 January 2019

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Om Kotak Mahindra Insurance Company and Career Opportunity: Are you looking for jobs opportunities in Om Kotak Mahindra Insurance Company? then this article is only for you. The following Article of Kotak Mahindra Insurance Company will update you about all the details about the organization, job opportunities, and History, which will help you to crack Interview. So, go through the entire article and update your self.

Om Kotak Mahindra Insurance Company or Kotak Mahindra Old Mutual Life Insurance Ltd is a combined venture of Old Mutual PLC.  The company holds twenty-six percent of the shares and Kotak Mahindra Bank Ltd which includes 74% of the shares. The organization is working since 2001. Kotak Life Insurance aims to provide its customers with substantial value through consistent and high-quality services along with a collection of products that provides both long term saving and protection benefits.

Management Board of Om Kotak Mahindra Insurance

The management team at Kotak Life Insurance company are as follows:

Name	Designation
Gaurang Shah	Director
Anand Dewan	Senior Vice President and Head, Business Impact Group
G Murlidhar	Managing Director
Cedric Fernandes	Senior Vice President and Chief Financial Officer
Sunil Sharma	Appointed Actuary
Elizabeth Venkataraman	Senior Vice President and Head, Marketing
Sudhakar Shanbag	Chief Investment Officer
Hitesh Veera	Senior Vice President and Head, Operations, Customer Service, Underwriting & Claims
Sugata Dutta	Executive Vice President and Head, Human Resources
Sandip Shrikhande	Senior Vice President and Head, Group Business
Suresh Agarwal	Executive Vice President and Head, Distribution & Strategic Initiatives
Subhasish Ghosh	Senior Vice President and Head, Financial Institutions Group
Kirti Patil	Senior Vice President and Head, Information Technology

Financial Details of Om Kotak Mahindra Insurance Company

The given table highlights the details of the profit and loss account of Kotak Life Insurance for the year 2012-13.

Domain	Figures in INR thousands
Income from interest, dividends, and rent gross – net of amortization	Rs. 110,139/-
Profit on sale/redemption of investments	Rs.370/-
Expenses not directly related to insurance business	Rs. 1158/-
Contribution to policyholders’ funds	Rs. 68,129/-
Profit before tax	Rs.41,222/-
Provision for taxation for the current year	Rs. 8,246/-
Profit after tax	Rs. 32,976/-
Balance at the start of the year	Rs. 506,052/-
Profit/(loss) carried to balance sheet	Rs. 539,028/-

Products of Om Kotak Mahindra Insurance Company

The products of Kotak Life Insurance can be divided into two individual plans and group plans. The individual plans are as follows:

Protection Plans

• Kotak Saral Suraksha
• Eternal Life Plans
• e-Term/e-Preferred Term
• Assured Protection Plan
•  Term Plan/Kotak Preferred Term Plan

Savings & Investment Plans

• Kotak Assured Income Plan
•  Money Back Plan
• Platinum
• Surakshit Jeevan
•  Single Invest Advantage
• Premium Return Plan
•  Ace Investment Plan
•  Gramin Bima Yojana
•  Wealth Insurance
• Invest Maxima
•  Endowment Plan

Retirement Plans

• Kotak Lifetime Income Plan
•  Capital Multiplier Plan

Child Plans

• Kotak Child Advantage Plan
• Child Edu Plan
•  Headstart Child Assure
• Child Future Plan

Group plans offered by Kotak Life Insurance are as follows:

• Kotak Group Shield
•  Group Assure
• Term Group Plan
•  Credit-Term Grouplan
•  Complete Cover Grouplan
•  Gratuity Group Plan

News about  Om Kotak Mahindra Insurance Company

Kotak Life Insurance published the Kotak Assured Protection Plan on 13th July  2012. The plan provides a combination of savings and protection benefits. The plan includes coverage against death due to natural reasons and accidents as well. In case of unexpected death, the policyholder is paid two hundred percent of the sum guaranteed.

The plan allows the premium to be lived off in case the insured is disabled due to some accident. It also pays twenty percent of the sum decided in case the policyholder is investigated with any one of the 12 specified critical illnesses. However, these benefits can be served as long as the policyholder is younger than 70 years. The plan covers supporter who is yet to be 75 years old. In addition, the policy also pays the total sum decided once the term period of the policy ends. It must be said in this case that the above-mentioned benefits are not related to each other.

 Om Kotak Mahindra Insurance

For example, If an insured has received a certain chunk in any of the cases mentioned, The person will keep getting the other benefits as and when they are expected necessarily. There will be no assumption from the sum assured. The offer’s insured to be flexible with their payments of premium for either a 15 year period or till the policy ends after the insured is 60 years old. In the case of policies where the sum assured is higher, discounts on premium are selected on the basis of the selected premium band. In addition, the insured can also get a loan against the policy to satisfy any financial requirement that may come up when the policy is operational.

The organization has recruited Sunil Sharma as its Appointed Actuary. Sharma has at least 21 years’ experience in the Reinsurance and Life Insurance industries of India, UK, US, and South East Asia. He has worked with the top life insurers in India as well as in Abroad too. Sharma is a trained Auditor and a fellow of Institute of Actuaries of India (FIAI) and Fellow of Institute of Actuaries, UK (FIA). Mr. Sharma has also served as the Director of Advisory Group on Communication of Institute of Actuaries of India (IAI). He has also been a part of the Advisory Group on Peer, Stakeholder and International Relations of the same organization. Besides, he edits the Actuary India Magazine.

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