Key aspects of IFFCO Tokio General Insurance include a wide product range encompassing car, two-wheeler, health, travel, home, and commercial insurance, with specialized covers like liability and property insurance also available. The company emphasizes customer-centricity by offering innovative and customized insurance solutions and maintains a wide network of garages and hospitals for cashless claim settlements. IFFCO Tokio claims to have a quick claim disbursal process and a decent claim settlement ratio, offering features like quick claim settlement for minor claims in health insurance and a QCS (Quick Claim Settlement) process for motor insurance at network garages. They have a user-friendly online presence through their website and mobile apps for policy purchase, renewal, and claim registration, aiming to make insurance accessible and convenient. Their significant network comprises over 4300 garages and 7000+ hospitals across India for providing cashless services. Financially, IFFCO Tokio is considered a strong and reliable insurer committed to ethical business practices.
In summary, IFFCO Tokio General Insurance is a well-established player in the Indian general insurance market, offering a diverse range of products with a focus on customer service and efficient claim settlement, leveraging technology to provide convenient access to their services.
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Latest claim settlement ratio of health and general insurers released by IRDAI in 2026: Acko, Aditya Birla, Galaxy lead; Shriram, IFFCO Tokio fall below 90%
When it comes to health and general insurance policies, policyholders expect prompt claim settlements from insurers in times of emergency. The real test of any insurance policy lies in how fairly and quickly claims are settled. To gauge an insurer’s efficiency, checking the claim settlement ratio is a reliable way. The Insurance Regulatory and Development Authority of India (IRDAI) releases a list of claim settlements by all health and general insurance companies every year.
According to the latest figures for FY 2024-25, the claim settlement ratio of various insurers has been revealed. Among private general insurers, Acko General Insurance took the lead with 99.98% of claims paid within 3 months, followed by Reliance General Insurance Co. Ltd. with a ratio of 99.32%. On the other hand, Kshema General Insurance Co. Ltd. had the lowest claim settlement ratio of 26.88% among private sector insurers.
Among public insurers, The Oriental Insurance Co. Ltd. settled 90.17% of its claims within 3 months. The New India Assurance Co. Ltd. and National Insurance Co. Ltd. had a claim settlement ratio of 91.75% and 91.79%, respectively.
In the standalone health insurance sector, Aditya Birla Health Insurance Co. Ltd., Galaxy Health Insurance Co. Ltd., Narayana Health Insurance Co. Ltd., and Niva Bupa Health Insurance Co. Ltd. each reported a 100% claim settlement ratio, with all claims settled within three months.
The claim settlement ratio refers to the percentage of claims that an insurer pays or settles out of the total number of claims it receives during a certain period. For instance, a health insurance company with a claim settlement ratio of 95% typically pays around 95 of every 100 claims it receives.
It’s essential for policyholders to check the claim settlement ratio of their insurer to ensure they are getting fair and prompt claim settlements. The IRDAI’s annual list of claim settlements provides a reliable source of information for policyholders to make informed decisions. By checking the claim settlement ratio, policyholders can gauge their insurer’s efficiency and make informed decisions about their insurance policies.
In conclusion, the claim settlement ratio is a crucial factor to consider when choosing a health or general insurance policy. Policyholders should check the claim settlement ratio of their insurer to ensure they are getting fair and prompt claim settlements. The IRDAI’s annual list of claim settlements provides a reliable source of information for policyholders to make informed decisions about their insurance policies.
IFFCO Tokio Insurance Claim Decision Explained – Hyderabad Mail
The District Consumer Disputes Redressal Commission, Medak, has ruled in favor of a policyholder, Patlolla Madhusudhan Reddy, whose health insurance claim was rejected by IFFCO Tokio General Insurance Company Ltd. Reddy, a 61-year-old businessman, had purchased a family health protector policy for himself and his wife, paying a premium of ₹24,143. When he was hospitalized in March 2024, a representative of the insurer visited the hospital, assured a cashless settlement, and collected documents.
However, the company later repudiated the claim, citing that the hospital was on its excluded list. The commission found that the insurer’s rejection of the claim after giving assurance of settlement amounted to a deficiency in service and unfair trade practice. The policy was valid, and Reddy was entitled to the benefit. The commission held that the insurer’s defense, stating that the claim was non-admissible due to the hospital being on its excluded list, was not valid.
The commission directed IFFCO Tokio to pay ₹1,58,122 with 9% annual interest to Reddy, along with ₹10,000 as compensation for mental agony and ₹5,000 as litigation costs. The insurer was given 40 days to comply with the order. The commission’s decision highlights the importance of insurers adhering to their commitments and providing fair treatment to policyholders. The order also emphasizes that technical grounds cannot be used to reject claims after assurances have been given.
The case serves as a reminder to insurance companies to ensure that their representatives are aware of the policy terms and conditions and do not make false promises to policyholders. It also underscores the need for transparency and fairness in the insurance industry. The commission’s ruling is a victory for Reddy, who had faced significant financial hardship due to the rejection of his claim. The order will likely have implications for the insurance industry, emphasizing the need for companies to prioritize customer satisfaction and adhere to their commitments.
Sanghani Discusses India-Japan Insurance Cooperation
IFFCO Chairman Dileep Sanghani recently met with the senior leadership of Tokyo Marine Holdings, Inc. in New Delhi to discuss potential collaborations in the insurance sector. The meeting aimed to strengthen India-Japan cooperation and explore opportunities for mutual growth. Sanghani welcomed Tokyo Marine Holdings Chairman and CEO Masahiro Koike and Managing Executive Officer Yoshinari Endo, and the two parties exchanged views on expanding their collaboration through a cooperative-driven approach.
The discussion focused on aligning IFFCO’s cooperative ethos with Japan’s global expertise in insurance, with an emphasis on innovation, risk management, and inclusive coverage. Both sides recognized the potential of leveraging cooperative networks to deepen insurance penetration, support farmers and rural communities, and develop sustainable insurance solutions tailored to India’s diverse needs. The meeting highlighted the growing institutional engagement between Indian cooperatives and Japanese corporates, particularly in sectors that combine financial security with social impact.
The interaction also underscored the importance of strengthening bilateral cooperation in insurance to enhance resilience in agriculture and allied sectors. IFFCO Tokio, a joint venture between IFFCO and Tokio Marine, is already a significant player in the Indian insurance market. The meeting was attended by other senior officials, including IFFCO Tokio Chairman Rakesh Kapoor, IFFCO Managing Director K J Patel, and IFFCO Tokio Managing Director Subrato Mandal.
The collaboration between IFFCO and Tokyo Marine Holdings is expected to bring about innovative insurance solutions that cater to the needs of Indian farmers and rural communities. With Japan’s expertise in insurance and IFFCO’s cooperative network, the partnership has the potential to increase insurance penetration and provide financial security to vulnerable sections of society. The meeting marked an important step towards strengthening India-Japan cooperation in the insurance sector and promoting sustainable development in agriculture and allied sectors. Overall, the discussion was seen as a positive step towards enhancing bilateral cooperation and promoting mutual growth between Indian cooperatives and Japanese corporates.
Odisha government to release standard operating procedure for expediting accident insurance claims settlement
The Odisha State Road Transport Corporation (OSRTC) has empanelled five leading insurance companies to provide coverage for road accidents. These companies include New India Assurance Co Ltd, Iffco-Tokio General Insurance, Oriental Insurance Co Ltd, United India Insurance Co Ltd, and Go Digit General Insurance. Initially, Go Digit General Insurance was the primary service provider, but New India Assurance Co Ltd and Oriental Insurance Co Ltd have since taken over claim settlements.
As of the latest data, a total of Rs 6.77 crore worth of claims have been filed, with Rs 1.45 crore already settled. The state government is closely monitoring the resolution of pending claims to ensure a faster settlement process. According to officials, the government is committed to providing timely compensation to the families of accident victims.
To streamline the claims process, the government has launched an Electronic Detailed Accident Report (e-DAR) portal. This online platform, developed in consultation with insurance companies, will provide instant access to road accident data, enabling faster compensation claims for the families of accident victims. The portal is expected to improve the efficiency of the claims process and reduce the burden on vehicle owners and accident victims.
The Transport department has urged vehicle owners to obtain insurance for their vehicles or renew their existing policies to avoid legal and financial complications. This move is intended to benefit road accident victims and ensure that they receive timely compensation. By promoting insurance coverage, the government aims to reduce the financial burden on accident victims and their families. Overall, the initiative is expected to improve road safety and provide support to those affected by accidents in Odisha.
Bihar State Co-operative Bank (StCB) and IFFCO-Tokio General Insurance have signed a Memorandum of Understanding (MoU).
A significant milestone was achieved in the cooperative sector with the signing of a Memorandum of Understanding (MoU) between the Bihar State Cooperative Bank and IFFCO-Tokio General Insurance. The agreement aims to increase insurance coverage among customers, cooperative societies, and members across the state of Bihar. The MoU was signed in the presence of the State Minister for Cooperation, who highlighted the importance of insurance as a crucial tool for financial security and risk mitigation within the cooperative ecosystem.
The event was attended by several dignitaries, including Jitendra Kumar, MLA-cum-Chairman of the Nalanda Central Cooperative Bank, Abhay Kumar Singh, IAS, Additional Secretary of the Department of Cooperation, Bihar, A.K. Paliwal, State Head of IFFCO, and Vipul Gupta, Vice President of IFFCO-Tokio. Other senior officials and representatives from the cooperative and insurance sectors were also present.
The MoU is expected to facilitate greater access to insurance products, thereby strengthening financial inclusion through the cooperative network in Bihar. This partnership will enable the cooperative bank to offer a range of insurance products to its customers, including those in rural and underserved areas. By expanding insurance coverage, the MoU aims to provide financial security and protection to cooperative society members, customers, and their families.
The agreement is a significant step towards promoting financial inclusion and strengthening the cooperative sector in Bihar. The cooperative network in the state will play a vital role in disseminating information about insurance products and facilitating their distribution. The partnership between the Bihar State Cooperative Bank and IFFCO-Tokio General Insurance is expected to have a positive impact on the lives of millions of people in the state, providing them with access to insurance products and promoting financial security.
Overall, the MoU is a significant development in the cooperative sector, and its implementation is expected to have far-reaching consequences for the people of Bihar. It is a step towards achieving the goal of universal financial inclusion and promoting economic growth and development in the state.
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Crop Insurance Scam: Fraudsters Claim Insurance on BJP MP’s Land, Multiple Policies Issued on Single Record
A massive and organized fraud has been uncovered in the Prime Minister’s Crop Insurance Scheme (PMFBY) in Uttar Pradesh’s Bundelkhand region. The scheme, aimed at protecting farmers from crop losses due to natural calamities, has been exploited by fraudsters who have illegally issued insurance policies on barren and non-agricultural land, including land owned by a sitting BJP Member of Parliament, Anurag Sharma.
In one shocking case, a crop insurance claim of ₹1.64 lakh was raised and withdrawn on land belonging to Sharma without his knowledge or consent. The investigation revealed that the policy was issued by IFFCO Tokio General Insurance Company and was processed through a Common Service Centre (CSC). The claim amount was credited to a bank account in a different district, indicating manipulation of land records and possible collusion at the application and verification level.
The fraud is not limited to Sharma’s land, as officials have found that insurance policies were issued on river land, village roads, ponds, forest land, railway land, and government property. In many cases, claims were already withdrawn before the fraud surfaced. Reports have been filed by lekhpals, forest officials, and revenue authorities. Multiple policies were issued on a single land record, with up to nine crop insurance policies issued using a single khatauni (land record).
In Jhansi and Mahoba districts alone, more than 6,000 suspicious bank accounts have been identified, and many of these accounts had already received insurance payouts. Following the exposure, the accounts have been frozen, and recovery proceedings have been initiated. The agriculture department officials said nearly 20,000 insurance applications were submitted through Common Service Centres, and investigators believe CSC operators played a critical role in facilitating bulk fraudulent applications.
The episode has exposed deep structural loopholes in the crop insurance framework, particularly the lack of real-time integration between land records, satellite imagery, and insurance portals. It has also raised serious concerns about misuse of welfare schemes through digital manipulation. The state agriculture department and district administrations have moved swiftly, with the Principal Secretary directing all district magistrates to re-verify rabi crop insurance policies. Claims will be released only after physical and revenue-record verification. A special committee is being constituted to examine both kharif and rabi claims, and officials said strict action will be taken against CSC operators, beneficiaries, and officials found involved.
Demands have been made for a CBI probe into the matter, citing the company’s earlier link to a multi-crore crop insurance scam in Mahoba. The investigation is ongoing, and further revelations are expected. The administration has swung into action, with the Jhansi DM saying that a special committee is being constituted to examine both kharif and rabi claims. The episode highlights the need for greater vigilance and oversight in the implementation of welfare schemes to prevent such large-scale fraud.
IFFCO-TOKIO General Insurance Company (GIC) has partnered with various cooperatives to expand its micro insurance offerings, including package, health, and motor policies.
IFFCO-TOKIO General Insurance Company (GIC) is celebrating its 25th anniversary, having been established in 2000 as a joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) and Japan-based Tokio Marine Group. The company’s Managing Director and CEO, Subrata Mondal, stated that the insurer’s vision has expanded over the years to align with the changing aspirations of people and the growing economy, while remaining committed to the Insurance Regulatory and Development Authority of India’s (IRDAI) goal of “Insurance for All by 2047”.
To achieve this goal, IFFCO-TOKIO GIC has introduced affordable insurance solutions for under-covered communities, taking inspiration from various IRDAI initiatives. The company has partnered with several cooperatives to distribute micro insurance for package policies, health, and motor policies. This move aims to increase insurance penetration among under-served segments of the population.
IFFCO-TOKIO GIC offers a range of retail products, including motor, health, travel, home, and personal accident insurance, as well as corporate insurance products. The company’s focus on affordable insurance solutions and partnerships with cooperatives is expected to help bridge the insurance gap in the country. By providing accessible and affordable insurance options, IFFCO-TOKIO GIC hopes to contribute to the government’s vision of universal insurance coverage by 2047.
As the company celebrates its silver jubilee, it can look back on 25 years of growth and progress in the Indian insurance market. With its commitment to providing affordable insurance solutions and its partnerships with cooperatives, IFFCO-TOKIO GIC is well-positioned to continue playing a significant role in the Indian insurance industry. The company’s efforts to increase insurance penetration and provide coverage to under-served communities are likely to have a positive impact on the overall development of the insurance sector in the country.
IFFCO-TOKIO’s Journey of Trust Continues – ThePrint – ANI Press Releases
IFFCO-TOKIO General Insurance Company Limited, one of India’s leading general insurance companies, is celebrating its 25th anniversary. The company was established in 2000 as a joint venture between IFFCO and Japan’s Tokio Marine Group. Over the years, IFFCO-TOKIO has worked towards making insurance accessible to every individual, household, and business, with the objective of “Spreading Happiness” through customized policies and a high claim settlement rate.
Today, the company caters to over 86 lakh policies through 1000+ offices and 35,000 agents, built on decades of trust. IFFCO-TOKIO has introduced affordable insurance solutions for under-covered communities, tying up with cooperatives to distribute micro insurance for package policies, health, and motor policies. The company’s managing director and CEO, Subrata Mondal, stated that IFFCO-TOKIO is committed to IRDAI’s “Insurance for All by 2047” vision and aims to build one of the best customer-focused, innovative, and socially responsible insurance companies in India.
IFFCO-TOKIO has laid out a strong technological foundation with trust, innovation, and resilience at its core. The company has provided training to over 5,000 women agents, fostering financial inclusion and community trust. It has also been at the forefront of social welfare through Corporate Social Responsibility initiatives, empowering rural youth, improving healthcare, and promoting sustainable practices.
The company has received numerous awards and recognitions for its business excellence, innovation, and customer service. Some of its notable awards include the ‘Tokio Marine Group Award 2025’, ‘India’s Top General Insurance Company Award 2025’, ‘Best DevOps Culture’, and ‘Asia’s Best General Insurance Company – 2025’. IFFCO-TOKIO has also been recognized for its customer service, healthcare insurance, and operational efficiencies using emerging technology.
As the company enters its next phase of growth, it is focused on building a strong and inclusive organization. With a commitment to gender diversity and equality, IFFCO-TOKIO provides opportunities for female participation and rise in the organization. The company’s journey over the past 25 years is a testament to its dedication to making insurance accessible and its unwavering trust and dedication to its customers.
IFFCO Tokio completes glorious 25 years; congratulations pour in
IFFCO Tokio General Insurance Company Ltd. has reached a milestone of 25 years of service, marking a significant achievement in the insurance sector. The company has received congratulatory messages from the cooperative and insurance sectors, recognizing its contribution to rural India, particularly farmers and cooperatives. K J Patel, MD of IFFCO, expressed pride in the company’s journey, recalling the strong foundation upon which the joint venture was built.
One of the company’s notable initiatives is the Sankat Haran Bima Yojana, an accidental insurance scheme linked with every bag of IFFCO fertilizer. This scheme has provided protection and financial security to farmers and their families, making it one of the most impactful cooperative-driven insurance initiatives in India. IFFCO Tokio’s journey began in 2000, after the Government of India opened the insurance sector, and has since grown into a successful business venture with a commitment to serve rural India.
Recently, the Ministry of Cooperation reviewed IFFCO Tokio’s progress in cooperative onboarding, emphasizing the need for expanding insurance coverage within the cooperative network. The meeting highlighted encouraging numbers, with 12 State Apex Banks already holding Corporate Agency licenses and 18 District Central Cooperative Banks holding licenses. Key cooperative institutions have also signed agreements with IFFCO Tokio.
The company has reported a premium generation of Rs 162 crore in the current fiscal year, with Rs 148 crore coming from existing cooperatives and Rs 14 crore from new tie-ups. As IFFCO Tokio steps into its next phase of growth, the Silver Jubilee marks not only a celebration of its past success but also a promise of a brighter future for the insurance cooperative ecosystem in India. The company’s commitment to serving rural India and its farmers remains strong, and it is expected to continue playing a significant role in the insurance sector. With its legacy of trust, protection, and steadfast support, IFFCO Tokio is poised to expand its reach and deepen its impact in the years to come.
2025 is expected to be a defining year for the general insurance sector, with reforms anticipated to drive growth in 2026, according to IFFCO-TOKIO, as reported by APN News.
India’s general insurance industry experienced steady growth in 2025, driven by increased awareness, improved penetration, and a shift towards digital solutions. According to Subrata Mondal, Managing Director & CEO of IFFCO TOKIO General Insurance Company Limited, the health insurance segment saw significant demand due to the waiver of Goods and Services Tax (GST) for retail customers. The motor insurance segment also witnessed growth following the reduction of GST in the automobile sector and stricter enforcement of mandatory insurance by government agencies.
Mondal noted that evolving risks, such as climate-linked risks, trade uncertainties, cyber-attacks, and merger & acquisition risks, have led to the emergence of new solutions in the corporate sector. The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, is a key development for the industry, with proposals such as allowing up to 100% Foreign Direct Investment (FDI) in insurance companies and formal recognition of Managing General Agents (MGAs). These changes are expected to attract fresh capital, improve distribution efficiency, and expand coverage to underserved segments.
The growth of GIFT City as an international insurance and reinsurance hub is also strengthening India’s position as a regional risk-management center. Looking ahead to 2026, the sector is optimistic about consolidation, adaptability, and sustainable growth. Insurers are expected to focus on underwriting discipline, data-driven decision-making, and customer-centric innovation. Overall, India’s general insurance industry is poised for continued growth and development, driven by government initiatives, technological advancements, and evolving customer needs.
The industry’s growth is also expected to be driven by the increasing demand for digital solutions, with insurers investing in technology to improve their distribution channels and customer engagement. The focus on digital solutions is expected to continue, with insurers leveraging data analytics and artificial intelligence to improve their underwriting and claims processing. With the government’s support and the industry’s focus on innovation and customer-centricity, India’s general insurance industry is expected to continue its growth trajectory in 2026.