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HDFC Ergo crosses ₹10,900 cr in gross premium income

Hyderabad, March 17th, 2021:HDFC ERGO General Insurance Company, India’s leading private sector general insurance company, has emerged as the most preferred insurer in India by crossing 10,900 crore in gross premium income YTD Feb 2021, covering more than 1.5 crores lives.

This exemplary growth during the pandemic has been facilitated by HDFC ERGO’s largest distribution network of 1,40,000+ agents, 60+ corporate agents, 203 branches, 323 digital offices and 17,000+ cashless claims service points (10,000 hospitals and 7,700 garages) across cities in India.

While the year 2020 presented the world with challenges, 2021 is expected to be the year of hope, a year that will help the world bounce back coupled with ways to reward oneself and ones with the best experiences. To corroborate this, the company has recently launched campaign #21ReasonsWhy with a motto to establish itself as a ‘One-Stop-Shop’ for all the insurance needs of their customers, be it protecting themselves, their loved ones against any medical exigency or protecting their movable/non-moveable priced possessions. HDFC ERGO is committed to ease their customers’ journey through the product & services offered across Health, Motor &Home Insurance and others. The #21ReasonsWhy the campaign is a 360-degree campaign across all the brands communication platforms including social media.

Speaking on the campaign, Mr. Mehmood Mansoori, President - Shared Services & Online Business, HDFC ERGO General Insurance said, “The year 2020 allowed us to reflect individually and prioritise our lives and that of our loved ones over everything else. It has allowed individuals to focus on having the right insurance products to protect ourselves and our assets. Our campaign #21ReasonsWhy, focuses on educating consumers about their financial well-being and the importance of insurance to deal with any unforeseen situations. The campaign will also highlight what consumers should expect from insurers and to consider the right insurance brand by asking questions that matter the most while purchasing one."

On the customer experience front, the pandemic has been a litmus test of HDFC ERGO’s digital capabilities. HDFC ERGO adopted the digital-first approach a few year back and has transformed into a ‘Digital Insurer’. Not only has the sales process been entirely digital with ~97% of retail policies issued digitally but the self-help tech platform has empowered customers to avail more than 80% of the services virtually in a self-service mode on a 24x7 basis. The Company recently launched the AI tool IDEAS (Intelligent Damage detection Estimation and Assessment Solution) for motor claim settlements that supports instant damage detection as well as calculation of the claims estimate for the surveyors to help in motor claims settlement in real-time.

In the state of Andra Pradesh& Telangana, HDFC ERGO has 17 and 12 digital offices respectively along with 9 and 6 branchesin each state. In Hyderabad city HDFC ERGO has with more than 12,200+ agents. This large distribution infrastructure is supported by the servicing team in remotely processing the pre-authorization of health claims and discharge cashless claims in less than 20 minutes. In this financial year until January 31, 2021, HDFC ERGO has honoured more than 7,800 Health Insurance claims in the Hyderabad market, of which 1400+ were claims for COVID-19.

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