Oriental Insurance Company Ltd and Career Opportunity 25 January 2019

Oriental Insurance Company Ltd and Career Opportunity: The Oriental Insurance Company Limited was incorporated on 12th September 1947 at Bombay. It has 31 Regional Offices and nearly 1800+ operating Offices in various cities across India including head Office at New Delhi. The insurance company has overseas operations in Nepal, Kuwait, and Dubai. The organization has a total strength of around 14,000+ employees and recruit new employees every year as well. The strength of the company lies in its highly trained and motivated workforce that covers not only various disciplines but also has vast expertise as well. In order to work in that organization, one should have expertise in various sectors. So, We are going to see about Oriental Insurance Company Ltd and its Workforce, Business Profile, Network, Management, Financials, Products, and News.

Oriental Insurance Company Ltd – Overview

Oriental Insurance Company Ltd was established in the then Bombay on 12th September 1947. It was a wholly owned subsidiary of Oriental Government Security Life Assurance Company Ltd. It was Formed with the aim of executing its parent body’s general insurance operations. It worked in that role from 1956 till 1973 when the general insurance industry was brought under national control. In 2003, the Union Government acquired all the shares of Oriental Insurance Company Ltd that were owned by the former General Insurance Corporation of India.

Oriental Insurance Company Workforce

Oriental Insurance Company is a groundbreaker in proper business coordination as it has a highly motivated and skilled workforce of more than 15 thousand employees. The organization’s workforce not only has diverse expertise but also can deal with various areas as well, which is the major area of strength for them. It also has a team of some efficient people with high levels of technical qualification in order to provide better customer service than others.

Oriental Insurance Business Profile

Oriental Insurance has a specialty in creating special covers for big projects such as chemical and steel plants, power plants, and petrochemicals. The insurance company has been coming up with products over the years in order to satisfy the interests of both rural and urban populations in India.

Oriental Insurance Company Ltd Office Network

The headquarters of Oriental Insurance Company Ltd is located in New Delhi. The organization has 30 regional offices and more than 900 operational offices in different cities across India.

Oriental Insurance Company Management

Dr. AK Saxena works as the Chairman cum Managing Director of Oriental Insurance Company. The Board of Directors at this organization has some well-known names from different domains like KR Kamath, SK Chanana, Lalit Kumar and NK Singh. The General Managers of Oriental Insurance Company are SK Chanana, KK Rao, Niraj Kumar, HG Rokade and NK Singh. Nawang Tobdan serves as the Chief Vigilance Officer of the insurance company and Rashmi Bajpai is the company secretary.

Oriental Insurance Financials

The financial details of Oriental Insurance for the year 2011-12 has been highlighted in the following table:

Domain	Figures in INR
Gross direct premium income	6047.89 crores
Premium income from outside India	146.71 crores
Net premium income	5236.65 crores
The net premium on foreign operations	128.03 crores
Net incurred claims for foreign operations	106.24 crores
Income from interest, rent, and dividend	859 crores
Profit on sale of investments	751 crores
Pre-tax profit	366.34 crores
Post-tax profit	253.39 crores

Oriental Insurance Company Ltd Products

Various products offered by Oriental Insurance Company Ltd are mentioned in the given below:

Individuals/Family

• Awasiya Rin Bima Kavach
• Insurance Policy for Mobile/Cellular Phone
• Baggage Insurance Policy
• Insurance Policy for Pager
• Bhagyashree Child Welfare Policy
• Pedal Cycle Insurance Policy
• Burglary and House Breaking Insurance Policy
• Raj Rajeswari Mahila Kalyan Bima Yojana
• Comprehensive Health Insurance Scheme
• Suhana Safar Domestic Policy
• Contact Lens Insurance
• Swasthya Bima Policy
• Cycle Rickshaw Policy
• Sweet Home Insurance Policy
• Gun Insurance
• TV VCR VCP Insurance Policy
• Householders Insurance Policy

Health – Mediclaim/Overseas Mediclaim/Personal Accident

• Bhavishya Arogya
• Oriental Bank Mediclaim Policy
• Flight Coupon
• Overseas Mediclaim Business and Holiday
• Gramin Accident Insurance
• Overseas Mediclaim Employment and Study
• Group Mediclaim Policy
• Personal Accident – Group
• Individual Mediclaim Policy
• Personal Accident – Individual
• Jan Arogya Bima
• Personal Accident – School Children
• Janata Personal Accident Policy
• PNB – Oriental Royal Mediclaim Policy
• Nagrik Suraksha Policy
• Universal Health Insurance Scheme

Professionals

• Banker’s Indemnity Insurance Policy
• Professional Indemnity Policy For Doctors And Medical Practitioners
• Directors And Officers Liability Policy
• Professional Negligence Errors and Omissions Insurance Policy For Medical Establishments
• Package Policy for Exporters Covered Under Duty Exemption Scheme
• Sports Insurance Policy
• Professional Indemnity Errors & Omissions Insurance For Chartered Accountants/Financial Accountants/Management Consultants/Lawyers/ Advocates/Solicitors/Counsels
• Stock Brokers Indemnity Insurance Policy
• Professional Indemnity Errors & Omissions Insurance Policy for Consulting Engineers/Architects & Interior Decorators

Business/Office/Traders/Multiperil

• Burglary Policy
• Multi-Peril Policy For LP Gas Dealers
• Carriers’ Liability Policy
• Neon Sign Policy
• Comprehensive Risk Insurance (Exchange) Policy
• Office Umbrella Policy
• Contract Guarantee Policy
• Plate Glass Insurance Policy
• Couriers’ Liability Policy
• Policy For Jewellers’ Block Insurance
• Default Insurance (Exchange) Policy
• Shopkeeper’s Insurance Policy
• Depository and Depository Participants Indemnity Insurance
• Special Contingency Policy
• Electronic Equipment Insurance Policy
• Stevedore’s Liability Policy
• Fidelity Guarantee Policy – Floating Group
• Sub Brokers Default Insurance Policy
• Fidelity Guarantee Policy – Individual Named
• Third Party (Cinema) Policy
• Hire Purchase Bank Guarantee Policy
• Third Party (Lift) Insurance Policy
• Indemnity Insurance Policy for Custodians, Registrars and Share Transfer Agents
• Travel Agent Policy (Guarantee)
• Money Insurance Policy

Engineering/Industry

• Advance Loss Of Profit (Following Erection All Risks)
• Liability Insurance Policy ( Under Public Liability Insurance Act 1991)
• All Risks Insurance
• Loss Of Profits (Machinery) Insurance Policy (TurnOver Basis)
• Boiler Explosion Insurance
• Machinery Breakdown Insurance Policy
• Civil Engineering Completed Risks Insurance
• Machinery Insurance Policy
• Consequential Loss (Fire) Policy
• Machinery Loss Of Profit Insurance Policy (Out-Put Basis)
• Contractor’s All Risk Insurance Policy
• Oil and Energy Risks Insurance
• Contractor’s Plant & Machinery Insurance
• Package Policy (Mega Risk)
• Deterioration Of Stocks Insurance Policy
• Product Liability Policy
• Employers Liability Insurance
• Public Liability Policy (Industrial Risk)
• Engineering Insurance
• Public Liability Policy (Non-Industrial Risk)
• Fire Policy ‘C’
• Standard Fire and Special Perils Policy (Material Damage)
• Industrial All Risk Insurance Policy

Motor Vehicle – Private/Commercial

• Commercial Vehicle – Goods Carrying Act Liability
• Motor Cycle Package Policy
• Commercial Vehicle – “B” Policy (Misc.)
• Motor Cycle Policy – Act Liability
• Commercial Vehicle – Goods Carrying ‘B’ Policy
• Motor Trade “B” Policy
• Commercial Vehicle – Passenger Carrying Act Liability
• Motor Trade Internal Risk Policy
• Commercial Vehicle – Passenger Carrying ‘B’ Policy
• Private Car Package Policy
• Long Term Act Only
• Private Car Policy – Act Liability

Agriculture/Sericulture/Poultry

• Animal Driven Cart / Tanga Insurance
• Kissan Package Insurance
• Apple Insurance (Input) Policy
• Oil Palm Plantation Insurance Policy
• Aquaculture (Shrimp/Prawn) Insurance Policy
• Package Insurance for Tribals
• Beetlevine Insurance (Input Policy)
• Plantation/HortiCulture (Input) Policy
• Coconut Palm Insurance Policy
• Policy for Insurance of Fish in ponds (Fresh Water)
• Failed Well Insurance
• Policy for Kisan Agricultural Pumpset Insurance Scheme
• Floriculture Insurance Package Policy
• Poultry Insurance
• Honey Bee Insurance Scheme
• Rose Plantation Insurance
• Hut Insurance
• Sericulture (Silkworm) Insurance
• Inland Fresh Water Fish (Embankments) Insurance
• Tea Crop Insurance
• Insurance of Biogas Plant (Gobargas)
• Tea Plantation Insurance
• Khalihan Insurance Package Policy

Animals/Birds

• Blood Stock Insurance
• EMU Birds Insurance Policy
• Calf/Heifers Rearing Insurance Scheme
• Foetus (Unborn Calf) Insurance Scheme
• Camel Insurance
• Horse/Yak/Mule/Pony/Donkey Insurance
• Cattle Insurance
• Pig Insurance
• Dog Insurance
• Rabbit Insurance
• Duck Insurance Scheme
• Sheep And Goat Insurance Policy
• Elephant Insurance

Aviation

• Aircraft Hull and Spares All Risks Aviation Liability Insurance (Airlines)
• Aviation Group Loss of License Insurance
• Aircraft Hull/Liability Insurance Policy
• Aviation Personnel Accident (Crew Members)
• Aircraft Spares Insurance Policy
• Hull War and Allied Perils Insurance (Airlines) Policy
• Aviation Fuelling/Refuelling Liability Insurance Policy
• Loss of License Insurance

Marine

• Advance Loss Of Profit (Following Marine)
• Marine Insurance – Sailing Vessels
• Hull Deductible Insurance Policy
• Marine Insurance Policy (Air)
• Hull War and Allied Peril Policy
• Marine Insurance Policy (Ocean Voyage)
• Marine Hull Policy
• Marine Insurance Policy Inland Transit(Rail/Road)
• Marine Insurance – REGD. Post

Oriental Insurance Company News

Recently, Oriental Insurance Company has transferred dividends of worth INR 50.67 crores for the fiscal 2011-12 to the Indian government. The dividend check was presented to P Chidambaram, the Union Finance Minister by Dr. AK Saxena, SK Chanana, DK Mittal and NK Singh.

We hope that this article will not only help you to get information about the Oriental Insurance Company Ltd but also gives a view of how big the insurance industry in India and what should you do in order to pursue your career in it. For more Jobs related articles, keep visiting www.govtjob.desi.