IFFCO-TOKIO General Insurance

IFFCO-TOKIO General Insurance (ITGI) is Indias trusted insurance company. It simplifies

customers life by providing them tailor made products and quality services, thus helping them take

informed investment decisions. It is a joint venture between The Indian Farmers Fertilizer Co-

operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group, the largest listed

insurance group in Japan.

ITGI was incorporated on December 4, 2000 and has its head office in Gurgaon, Haryana. ITGI is

among India's top three private-sector general insurance companies with 100 offices and a country-

wide network of 480 exclusive point of presence.

In their constant effort to provide customers with "the life they deserve", it offer a wide range of

over 40 uniquely customized policies covering a wide range of customers, from farmers to some of

India's largest automobile manufacturers.

Vision

To be an industry leader by building customer satisfaction through fairness, transparency and

quick response

Mission

To win the trust of individuals, trade, industry and commerce and protect citizens, corporations,

cooperatives and international investors in India.

Subsidiary: IFFCO TOKIO Insurance Services Limited

 Indian Promoters: Indian Farmers Fertilizer Co-operative Ltd (IFFCO)

Foreign Promoters: TOKIO Marine Asia Ptd. Ltd.

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Our Performance
Profitable growth: Our commitment to innovation and customer service has helped us

consistently raise the bar on our performance. We strongly believe in profitable growth: Our

rapidly reducing Earned Income Loss Ratio (EILR) is testimony to this

ITGI's sound financial management has been achieved in a period of fast-paced growth. Our GWP

has grown from Rs. 58 million in 2000-01 to Rs. 9 billion 2005-06. Policy growth has jumped

more than 70 times between 2002 and 2006.

ITGI voluntarily maintains strong institutional checks and balances. An investment committee of

board members and senior executives scrutinizes all major investment decisions. An in-house audit

committee audits all the branches and suggests ways to improve their functioning. Finally, there is

an executive committee of senior management that monitors policy decisions. All these have

ensured that ITGI has established a reputation for the highest standards of corporate governance.

'Customized' satisfaction: Our bi-annual customer satisfaction surveys - another unique feature at

ITGI -- indicates the speed and fairness in handling policy-holders' claims. This is backed by

robust IT infrastructure that is robust enough to handle large volume of documents. All ITGI's

branches and distributors are networked. This not only enables a detailed and accurate analysis of

the company's performance based on specific parameters, the web-based claim response system has

enabled the speedy settlement of claims, achieving a 90% claim settlement ratio.

A Complete Protector

ITGIs Home Suvidha Insurance Policy gives complete protection to individuals home against a

wide range of risks and perils. It is a simple Policy wherein there are various categories of Sum
Insured and a person may opt for the category most suitable to him depending upon the extent of

risk perceived and total value of his assets.

The Sum Insured under Section 1 & 2 represents the First Loss limit which should be within 50%

of the actual Market Value of the property at risk, below which underinsurance condition will be

applicable. The other Sections are covered on Full Value basis - Market Value for Section 5 and

Reinstatement Value for Section 3 & 6. Sections 5 and 6 are optional. Either on both of them can

be deleted from the cover taken, in case they are not relevant to him.

Coverage Under Home Suvidha

Fire and Allied Perils (Contents): Contents of premises are covered against fire, explosion,

bursting/ overflowing of water tanks, riots, strike and malicious damage, earthquake, flood,

cyclone, landslide etc.

Burglary and other Perils (Contents): Contents of premises are covered against housebreaking,

burglary, robbery or dacoity and also against impact damages by falling trees/electric poles/lamp

posts, breakage or collapse of television or radio aerials/satellite dishes and damage by civic

authorities in the prevention of fire.

Television/Video Equipment: This Section covers loss or damage to your television/ video

equipment against fire, theft, accidental damage and breakdown.

Personal Accident: This section covers an individual and his named family members against

accidental bodily injury leading to death or disablement (either permanent total or permanent

partial).

Fire and Allied Perils (Building): This Section covers the residential building, if owned by you

against perils mentioned under the Fire and Allied Perils (Contents) Section.
Personal Computer: This Section covers loss or damage to your personal computer against fire,

theft, accidental damage and breakdown.

Trade Suvidha

Trade or Business is constantly exposed to various kinds of risks. Some unfortunate occurrences

might bring a huge financial burden to an individuals business and him. Although he cannot guard

his business from all possible risks, he can take steps to help tide over some unexpected events.

A Complete Protector

ITGIs Trade Suvidha Insurance Policy gives complete protection to an individuals business

against a wide range of risks and perils. It is a simple Policy wherein there are various categories of

Sum Insured and a person may opt for the category most suitable to him depending upon the extent

of risk.

Coverage Under Trade Suvidha

Fire and Allied Perils (Contents): Contents of premises are covered against fire, explosion

bursting/overflowing of water tanks, riots, strike and malicious damage, earthquake, flood,

cyclone, landslide etc.

Burglary and other Perils (Contents): Contents of premises are covered against housebreaking,

burglary, robbery and dacoity along with impact damage by falling trees/electric poles/lamp post,

breakage or collapse of television or radio aerials/satellite dishes and damages by civic authorities

in prevention of fire.

Money: This section covers loss of money in premises or in transit due to accident or misfortune,

hold-up, house breaking, robbery, dacoity etc.

 Personal Accident: This Section covers an individual and other named persons connected with his

business against accidental bodily injury leading to death or disablement (either permanent total or

permanent partial)

Fidelity Guarantee: This Section covers direct pecuniary losses caused to you by any act of fraud

or dishonesty committed by employees.

Electronic Equipment: This Section covers loss or damage to electronic equipments like

computers; fax machines etc. which are installed in trade premises.

SWOT Analysis

Visioning is best aided by SWOT analysis.

"SWOT" is a simple acronym for Strengths, Weaknesses, Opportunities and Threats. SWOT

analysis consists of the following two activities:

1. An assessment of the organizations internal Strengths and Weaknesses and

2. An assessment of the Opportunities and Threats posed by its external environment

SWOT analysis provides a framework for visioning by helping the planners to identify and

priorities the organizations GOALS and to further identify the strategies of achieving them.

Assessing the Internal Environment

Internal scan or assessment of the internal environment of the organization involves

identification of its strengths and weaknesses i.e., those aspects that help or hinder

accomplishment of the organizations mission and fulfillment of its mandate with respect to

the following Four Ps:

1. People (Human Resources)

2. Properties (Buildings, Equipments, Fine Arts and other facilities)

3. Processes (Such as Direct Marketing, Channel Marketing etc.)

4. Products (Fire, Engineering, Marine, Motor, Misc. etc.)

 Assessing the External Environment

External scan refers to exploring the environment outside the organisation in order to identify

the opportunities and threats it faces. This involves considering the following:

Events, trends and forces in the Social, Technological, Economical, Environmental and

Political areas (STEEP).

Identifying the shifts in the needs of customers and potential clients and

Identification of competitors and collaborators.

Strength :

Patents

Insurance having correctly good market.

The product variety is increasing. The increasing demand and market of Fine Arts is leading

to the scope of introducing new product Fine Arts Insurance

IT bringing new dimensions to insurance sector

Weakness :

Insurance companies are sometimes less responsive towards the changing needs

Premium rate are decreasing and commissions are increasing

Buying insurance policy is a cumbersome process

Competitors are providing similar products and services, such as recently; Bajaj Capitals

insurance broking has forayed into fine arts insurance. ICICI Lombard and Oriental Insurance

are the other players in this segment.

Opportunity :

Technological advancement is making the process easier. Paperless transactions like online

facility, call centre services etc. are available.

According to the change of life style, needs of the customers products and services are tailor-

made. Peoples interests in acquiring valuable fine arts as their personal possessions (status
 symbol) are creating the scope for the insurer.

Like mobile banking mobile insurance could be a hit

Threat :

Weather cycle.

New substitute product emerging

Increasing expenses and lower profit margins will hit hard on the smaller agencies and

insurance companies.

Government regulations on issues like healthcare and terrorism can quickly changed the

direction of insurance.