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Universal Sompo through Pradhan Mantri Suraksha Bima Yojana (PMSBY) reaffirms its commitment to fostering a financially secure future

Universal Sompo through Pradhan Mantri Suraksha Bima Yojana (PMSBY) reaffirms its commitment to fostering a financially secure future

Chennai, November 26, 2023, The Government of India's initiative, PMSBY, launched by Honourable Prime Minister Shri Narendra Modi on May 9, 2015, has proven to be a beacon of financial security for underprivileged families across the nation. The scheme, aimed at providing one year of accidental death and disability coverage at a minimal premium of Rs 20 per annum, has successfully resulted in settlement of numerous claims, benefiting families in times of unforeseen financial uncertainties.

 

Universal Sompo General Insurance Company, a dedicated partner in implementing PMSBY, has insured 21 Lac people in Tamil Nadu, in the first half of the current financial year with a growth of 47 % over previous year. 

 

The company has disbursed over Rs 45 Crores of claims in Tamil Nadu, since inception of the scheme to the families of the insured in the entire state of Tamil Nadu.

 

Universal Sompo, expressed its commitment for creating a financially secured future for every Indian household. Company is proud to extend support to the diverse communities of Tamil Nadu.

 

About Universal Sampo General Insurance:

Universal Sompo is a Joint venture of Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments, and Sompo Japan Insurance Inc. The company is headquartered in Mumbai and has 117 offices countrywide with representation through its digitally enabled employees. It has a strong distribution network of Agents, Point of salespersons, Bank Branches, Automobile Dealers, Brokers, Common Service Centres, and Digital Platforms. The company offers 205 IRDAI-approved products, and 1494 Add-on covers, ranging from Motor, Accident & Health, Home for Individuals, Shopkeepers Packages, Crop and other non-life packages for SMEs, Fire, Marine, Engineering, Employee Benefits, Project Insurance, Liability, and other special products for Corporates. Microinsurance covers the Rural segment. The company maintains its Claims settlement ratio at 98.27% and has robust technology architecture to serve its customers nationwide.

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