Insurance is a major industry in India, with a wide range of job positions and opportunities for individuals. The field is filled with public and private corporations that often hire thousands to fill roles like claims processors, risk analysts and underwriters. In addition to typical insurance roles, many of these companies are in the midst of revamping their digital presence and are in search of top tech talent. Whether looking for insurance or tech-based career opportunities, these are some of the top companies in the insurance industry to know about.
Top Insurance Companies in India to Know
- Tata AIG
- Life Insurance Corporation of India
- Acko
- HDFC Ergo
- SBI
- United India Insurance Company
- Aviva Life Insurance
Top Insurance Companies in India
Liberty General Insurance was formed from a joint venture between Liberty Citystate and the American company Liberty Mutual Insurance Group. The company sells both life and non-life insurance products and boasts over 100 offices throughout India. Over the years, Liberty General Insurance has created an extensive network of partnering hospitals and garages that can facilitate claim settlement and coverage.
Future Generali is a comprehensive insurance corporation headquartered in Mumbai. Its products, which range from health to wedding insurance, are tailored for Future Generali’s customers — largely individuals and families.
Recognized as one of the nation’s largest coverage providers, the Life Insurance Corporation of India is a public-sector organization that provides life insurance. Founded in 1956, the company was formed through a merger of multiple providers and now has over 2,000 branches. In addition to life insurance, it also provides pension plans and other insurance products.
National Insurance Company is a governmental insurance agency that sells health, auto, marine and rural coverage. Established in 1906, it is headquartered in Kolkata and managed by the Ministry of Finance.
HDFC Ergo offers various insurance products and is a popular provider for its digital ecosystem. Its products include auto, health, pet, corporate, home and cyber insurance. Meanwhile, its digital presence consists of intuitive websites and apps enabling customers to start and manage claims easily.
Aviva India is a joint venture between Dabur Invest Corp and Aviva International Holdings Limited, an insurance provider based in the United Kingdom. The company has over 14,000 financial advisors and is most known for its retirement and savings products. It also provides term life insurance unit-linked plans that combine both types of coverage.
Max Life Insurance provides health, investment and term life plans. It has a long history of continuously paying claims. The Gurgaon-based provider was founded in 2000 and now has over 24,000 employees.
Gurgaon-based Canara HSBC operates through a vast network of branches and provides an array of insurance products. Its plans include term life, health and insurance. Canara HSBC, formed in 2008, is a joint venture with various insurance and financial institutions.
Allianz operates as a B2B2C organization in India and provides insurance policies in partnership with local agencies. In India, it provides products and services that cover health, auto, travel and homes.
ICICI Prudential is a collaboration between India’s ICICI Bank and Prudential Corporation Holdings Limited, a Hong Kong and London-based financial institution. It provides everything from term plans to retirement and child education accounts. ICICI Prudential employs over 27,000 people and is recognized for using tech to provide better insurance products.
Headquartered in Mumbai, New India Assurance is a government-owned insurance agency that sells non-life products in 28 countries. It provides auto, health and travel insurance and prides itself on its long history of fulfilling clients’ claims. New India Assurance also boasts an extensive product lineup and promises ideal insurance coverage for each customer.
Founded in 2008, Policy Bazaar does not provide insurance plans but partners with India’s leading providers to help customers shop and compare options. The company is classified as an insurance broker by the Insurance Regulatory and Development Authority of India and can provide services like claim support and policy quotes.
Agriculture Insurance Company of India, or AIC, is a public-sector insurance agency covering over 25 million farmers with various products. The company aims to provide farmers with credit eligibility and can provide financial protection in the event of crop losses. AIC has 18 offices throughout India.
Tata AIG, formed in 2001, is a partnership between TATA Group and American International Group. The company provides comprehensive products covering health, auto, travel and specialized insurance services like marine cargo and fire protection. It’s headquartered in Mumbai and has offices in multiple states.
United India Insurance Company has an extensive physical and digital presence to provides various insurance products. The company has 30 regional offices and 500 micro offices throughout India but also enables customers to buy and manage their policies entirely online. United India Insurance Company’s products include motor, health, home and personal accident insurance, among others.
Formerly known as Aegon Life, Bandhan Life is an Indian insurance organization and one of the few that have a fully digital operation. Its coverage plans include term life, group care and retirement plans. Bandhan Life additionally caters to customers by digitizing applications, claims and payments.
State Bank of India, or SBI, is one of the largest financial institutions in the country. In addition to banking, the company also sells insurance products, including individual life insurance plans and corporate solutions that provide individuals with subsidized protection through their employer. SBI also offers educational materials and tools to help people plan for retirement or other life events.
Billing itself as a tech company that provides insurance solutions, Acko is a modern policy provider that launched in 2016. The Bangalore-based company provides vehicle, health, life and travel coverage to over 28 million customers. The company uses a mix of automation in operations and asserts it can settle claims within 12 minutes.
Reliance General Insurance is a consumer and business insurance agency. Through its various products, the company covers automobiles, cargo, medical practitioners and fire damage. Reliance General Insurance has over 94 insurance products and operates offices in 22 states to deliver customer assistance.
IFFCO Tokio provides specialized coverage for farmers and automobile manufacturers. It offers a mix of traditional and rural products that protect cattle and against weather incidents. IFFCO Tokio also uses modern technologies to digitize insurance purchasing and claim processing.
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