Cholamandalam General Insurance & Career Opportunities 24 January 2019

Cholamandalam General Insurance & Career Opportunities: Hey guys are looking for job opportunities in the Insurance sector?  then this article is for you. The following article will help you to get all the details about the Insurance sector by taking the example of  Cholamandalam General Insurance. Along with this, you can also get to know about the companies progress in past years and various other achievements too.

Cholamandalam General Insurance or Chola MS General Insurance is working in the industry for more than ten years and has more than 2500 employees leading them. In the past years, the insurer achieved a growth rate of thirty-nine percent. The company is among the fastest in India as it has more seven thousand agents working for them.

Cholamandalam General Insurance & Career Opportunities

The distribution mediums of the insurer consist of various long term and strategic associations with banks, auto finance companies, and auto OEMs. It is a joint enterprise of the Japan-based Mitsui Sumitomo group and Murugappa Group.

Awards achieved by the insurer are as follows:

• Quality Management System – The insurer got  ISO 9001:2000 Certificate of Registration in risk management consultancy services in environment, safety and health for corporate in India and outside the country
• They also got the Financial Insights Innovation Award in Singapore
• Also Achieved Ministry of Labour and Employment, Government of India – Award for outstanding performance in terms of in-time claim settlement under Rashtriya Swasthya Bima Yojana

Cholamandalam General Insurance Management

The board of directors at Chola MS General Insurance company are as follows:

Names	Designation
SB Mathur	Chairman
Katsuhiko Kaneyoshi	Director
A Vellayan	Director
Hisatoshi Saito	Director
R Srinivasan	Director
SS Gopalarathnam	Managing Director
R Beri	Director
Tsuyoshi Yamane	Whole Time Director
N Srinivasan	Director

The Management Board of the insurer comprises the following:

Names	Designation
Tsuyoshi Yamane	Whole Time Director
V Sundar	Vice President (IT)
Shivakumar Shankar	Senior Vice President (Retail Insurance)
Raymund Lobo	Vice President (HR)
M Subramanian	Senior Vice President (Commercial Insurance)
R Suresh	Senior Vice President-Claims
V Suryanarayanan	Senior Vice President (Finance)
A Prabhakaran	Vice President (Operations)
R Chandrasekaran	Senior Vice President (Underwriting & Reinsurance)

Cholamandalam General Insurance Financial Details

Some highlights of Chola MS General Insurance of year 2012-13 are as follows:

Domain	Figures in INR thousands
Operating profit/(loss) from Miscellaneous Insurance	Rs. 82,905/-
Income from gross interest, rent, and dividend	Rs. 80,837/-
Profit on sale of investments	Rs. 3,166/-
Profit before tax	Rs. 147,307/-
Provision for taxation	Rs. 42,371/-
Balance carried forward to balance sheet	Rs. 104,936/-

Products and Services of Cholamandalam General Insurance

Chola MS General Insurance provides various products in various sections:

Individual Insurance

• Health Insurance: Top Up Healthline, Individual Health, Hospital Cash, Family Health, Critical Healthline, Family etc
• Home: Home Insurance, and Home Protect
• Car: Private Car, Commercial Vehicles, and Chola Protect
• Personal Accident: Chola Accident Protection Plan
• Travel: Business/Leisure Travel, Corporate Travel Insurance, and Student Travel Insurance

Corporate Insurance

• Health Group PA, and Group Health
• Property Crime: Burglary, Money Insurance, All Risk, Shop Insurance, and Fidelity Guarantee
• Fire: Industrial All Risk, Fire & Special Perils, and Loss of Profits
• Marine: Inland Cargo, Export Cargo, and Import Cargo
• Engineering Projects: Erection All Risk, and Contractors All Risk
• Liability: Public Liability-Act, Professional Indemnity, Public Liability-Industrial, D&O Insurance, Product Liability, and Errors & Omissions Insurance
• Engineering Operations: Electronic Equipment, Boiler, and Machinery Breakdown

Rural Insurance

• Health Insurance
• Micro Insurance
• Rashtriya Swasthya Bima Yojana (RSBY) Scheme
• Combined/Composite Product Insurance
• Personal Accident Insurance
• Weather/Input Based Crop against Act of God Perils
• Critical Illness Insurance
• Cattle Insurance
• Tractor/Commercial Vehicle/Motor/Farm Inputs Insurance

Exclusives

• Chola Aarogya Bima Policy

Cholamandalam General Insurance News

Chola MS General Insurance has raised Rs. 50.05/-  crores in July 2012. This capital immersion has sufficiently increased its capital base. The capital has been generated via issuing rights – the step is taken by considering their expansion plans of the insurer for the 2012-13 monitors.

In March 2012, the net worth of the company increased from INR Rs.  325.7/- crores to Rs. 375.7/- crores following the capital infusion. The Managing Director of the organization, SS Gopalarathnam, has said that the organization increased its business by almost 40 percent.  The insurer has also won the Innovation Leader Award for 2012 at the Indian Insurance Awards 2012. It has bagged the respect for its Motor Claims Surveyor plan, which is a mobile-based program.

The insurer has also achieved the best insurance company prize at the “In Time Claims Settlement for the year 2011-12” category in the Rashtriya Swasthya Bima Yojana (RSBY) scheme that is run by the Union Ministry of Labour and Employment.
This award is provided for paying off claims in proper time in case of hospitals that offer cashless treatment benefits for people below the poverty line. Claims settlement data provided by respective agencies in states is taken into consideration for determining the winner along with feedback provided by the hospitals.

Cholamandalam General Insurance Office Network

Chola MS General Insurance headquartered is located in Chennai.  The insurer has more ninety offices all over India.

We hope that our article about Cholamandalam General Insurance & Career Opportunities will surely help you.