IFFCO Tokio General Insurance

Initiated on Dec 4th 2000, IFFCO-Tokio General Insurance (ITGI) Company is a cooperative undertaking of the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates, and Tokio Marine and Nichido Fire Group (the largest listed insurance group in Japan). This firm has about 51 'Strategic Business Units' and 110 offices all over India. They started with a modest, Rs. 231 crores of GWP (Gross Written Premium) in 2001-2002 and slowly went on to become India's leading private players with Rs. 1639.5 crores in 2009-2010. It is the only insurance company in India to have a 100%-owned distribution channel called IFFCO-TOKIO Insurance Service Ltd. (ITIS), for servicing its retail customers. Today, there are almost 1400 employees in 350 towns. IFFCO Tokio is one of the first companies to underwrite mega policies for a fertilizer and automobile company. This was based on international rates and optimized premium outflow for clients. There are several types of insurances which keep in mind individuals, groups, urban and rural population. They are as listed below.

Products

Commercial Insurance
This scheme is based on several of the customers' needs such as fire, special perils, industrial risks, machinery breakdown, and burglary, profit and loss of electronic equipment, fidelity and workmen's compensation. There are several unforeseen events which might run into huge losses. It is for this purpose that all these items are insured. A cover is given for goods in transit through sea/air/road and the sum insured is based on cost and age of the products and hence is an agreed value policy.

Specialty Insurance
These policies are applicable to companies dealing in specialized machinery and skills. For example, credit insurance protects against the customer defaults by covering the sales of the organization to its buyers on credit. There are small inland/coastal vessels operators which require this kind of insurance. Even fine art collectors need a proper insurance cover and this specialty insurance provides just that. Another good example is the Aviation Policy which offers a wide coverage in any financial crises. All liabilities such as aircraft and third party are also insured. All the schemes are given below and most of them are based on 'agreed value' concept.

Contact Address
IFFCO Tower,
4th & 5th Floors,
Plot no. 3, Sector 29,
Gurgaon - 122001, Haryana
Website: www.iffcotokio.co.in