Being a private-public organization, Universal Sompo General Insurance Company's a joint venture of Sompo Japan Nipponkoa Insurance Inc., Dabur Investment Corp, Karnataka Bank Ltd., Indian Overseas Bank & Allahabad Bank. It has its headquarters in Mumbai. Together Universal Sompo pioneers on the list of the first ever companies to form a private-public partnership Universal Sompo is the first general insurance private-public partnership in the insurance world.
Universal Sompo has an extensive array of products in general insurance. These products take care of the needs of various heterogenous segments of the Indian landscape. These products include home, travel, vehicle & health insurance. However, the product that tops their list is their health insurance product. It is simple & quite reasonable in terms of pricing. It is also available on a family and individual basis. Universa Sompo's health products are designed in a way that they cover multiple health aspects due to their advanced cover features. In a nutshell, health insurance products keep you from burning all of your savings during a medical emergency.
Universal Sompo is a joint venture organization of several top notch companies. These include Sompo Japan Insurance, Dabur Investments, Karnataka Bank, Indian Overseas Bank & Indian Bank.
The company’s paid-up capital is Rs 368.18 Cr; Shareholders’ Net worth is over Rs. 1,129 Cr ; Gross Written Premium Rs. 3,487 Cr ; Assets Under Management (AUM) Rs. 3,741 Cr; Solvency at 1.92 times.
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 IRDA-approved products and 1494 Add-on covers, ranging from Motor, Accident & Health, Home for Individuals, Shopkeepers Package, Crop and other non-life packages for SMEs, Fire, Marine, Engineering, Employee’s Benefit, Project Insurance, Liability, and other special products for Corporates. Micro insurance covers the rural segment.
The company maintains its Claims settlement ratio at 98.27% and has robust technology architecture to serve its customers nationwide
Offices – 117
Employees – 1600+
No. of Products – 205
Claim Settlement Ratio Year of 2022 – 113.39%
Cashless Network Hospitals – 5500+
24x7 Call centre
AI-assisted intimation and claim settlement with a self-survey module
In-house claims management to ensure faster health claims settlement Toll Free Numbers: 1-800-22-4030/ 200-4030
Renewal : All the offered plans comes with lifelong renewable option. Thus, once the plan is opted can be renewed at same premium throughout the life.
Hospitalization Cover : Covers pre, post, in-patient hospitalization and other medical expenses.
Cashless Hospitalization Service : Offers cashless claim hospitalization services across the India.
Free Look-up Period : Offers free look up period, during which the policyholder can review the policy, and if the policyholder disagree with any of the terms and conditions can cancel the policy. However, the premium paid might be refunded after a deduction.
Discounts : Universal Sompo Health Insurance provides a discount for multi-year plans.
Coverage : Offers coverage to cover whole family in a single policy.
Flexibility : Offers flexibility to make the premium payments, sum insured, coverage and plans.
No Claim Bonus : Offers no claim bonus for a claim-free year. The bonus is cumulative and can increases with the number of claim-free years.
Mediclaim settlement : Offers quick and hassle-free claim settlement services
Tax benefits : Save tax as per the Section 80C under the Income Tax Act.
Step One:
Step Two:
Step Three
Fill your appropriate information in the form for ‘Cashless Request’ Submit the form to the helpdesk for insurance
Step Four
The hospital then conducts the verification of the details related to the patient It then sends a duly filled form for Cashless Request to Universal Sompo’s Health Office via fax
Step Five
Universal Sompo will then conduct a review of your Cashless Request. This review will be conducted in alignment with the policy’s pre-mentioned terms and conditions In case of an approval, the company will let you know about it. However, you will have to pay for only those costs which fall under the category of non-payable items as per your policy’s terms and conditions
Step One
Call on their helpline no. 1800 200 5142 or email on healthserve@universalsompo.com Inform them about the claim within a time period of 24 hours for an emergency admission For planned hospitalization, inform 48 hours before the admission.
Step Two
Get admitted to the hospital & undergo the required hospital treatment. Pay your hospital expenses & clear your bill Post discharge, take all the original copies of your hospitalization & make a file
Step Three
Fill all your details in the claim form for Reimbursement
Provide the original documents’ file to the below mentioned address of Sompo’s office for reimbursement purposes.
Step Four
After Sompo receives your original documents’ file, it will conduct the proceeding of your claim in accordance with the policy’s terms and conditions.
You will be informed about the same.
Universal Sompo functions with the assistance of 117 plus offices. Additionally, it offers easy, accessible channels to its insurance products via its 24x7 customer care call centre & website to its customers.
Universal Sompo Health Insurance offers a wide range of health insurance policies. policies are pocket-friendly and at the same time ensures you stay covered. You can customised plan with respect premium and coverage. It’s time to shield yourself and your family against the increasing medical treatment costs. Unless found the claim to be a fraud case, Universal Sompo ensures that every claim that is lodged is settled. Universal Sompo could be in your preferred option when you are scouting for an insurer on the basis of pre and post sales services.
The claim settlement ratio of Universal Sompo Health Insurance is 70.75%.
Universal Sompo is the first private company in the Indian Insurance industry.
Yes, Universal Sompo Health insurance is cashless and you can avail cashless claims facility at over 4000+ network hospitals.
You can claim for Universal Sompo Health insurance by calling to their toll free number at 1800-200-5142 or email at healthserve@universalsompo.com
The CEO of Universal Sompo General Insurance is Mr. Sharad Mathur
Here are a few reasons you should choose Universal Sompo Health Insurance
Universal Sompo Health Insurance offers you the below healthcare plans:
Given below are the plan highlights of Universal Sompo Health Insurance:
Given below are a few medical conditions that are not covered under Universal Sompo Health Insurance:
Universal Sompo Health Insurance offers lifetime renewability option
