Kotak Mahindra General Insurance

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Kotak Mahindra General Insurance
IndustryInsurance
Founded2015
HeadquartersMumbai, India
Key people
Mahesh Balasubramanian MD&CEO[1]
ProductsGeneral insurance, Vehicle insurance (Private Car & Two Wheeler Insurance) Health Insurance,Personal Accident Insurance, Commercial Vehicle Insurance, Goods Carrying Vehicle Insurance
Number of employees
354 (as on 31 December 2017)[2]
Websitehttps://www.kotakgeneralinsurance.com/

Kotak Mahindra General Insurance is a 100% subsidiary of Kotak Mahindra Bank Ltd, it was incorporated in December 2014 and received an approval from the Insurance Regulatory and Development Authority to start a General Insurance business in April 2015, post which it commenced business operations from December 2015 onward.

The company aims to cater to a wide range of customer segment & geographies offering an array of non-life insurance products like Motor, Health, and others.

Kotak Mahindra Bank, a part of Kotak Mahindra group founded by Uday Kotak. Its wide range of products caters to the financial needs of individuals & businesses alike. In Feb 2003, Kotak Mahindra Finance Ltd., the group’s flagship company received a banking license from the Reserve Bank of India, becoming the first non-banking finance company in the country to convert into a bank.

Kotak Mahindra Bank has a network of 1,369 branches across 689 locations and 2,163 ATMs in the country (as of 31 March 2017).[3]

History[edit]

Kotak Mahindra General Insurance received the license to conduct general insurance business in India from the Insurance Regulatory Development Authority of India (IRDAI) in April 2015.[4]

Key persons[edit]

  • Mahesh Balasubramanian- Managing Director and Chief Executive Officer (MD & CEO)
  • Eswaranatarajan N- Chief Operating Officer

Products and services[edit]

Kotak Mahindra General Insurance provides various general insurance policies in India which are listed below-

  • Kotak Secure Shield - Critical Illness Insurance and Kotak Health Care – Health Insurance Plan
  • Motor Insurance- Car Insurance, 2 Wheeler Insurance, Goods Carrying Vehicle, Miscellaneous vehicles (Excavators, Tractors) and Passenger vehicles (Bus, Van).
  • Third Party Liability – For all the above-mentioned Motor Insurances Kotak Mahindra General Insurance provides 3rd party liability insurance to secure your vehicle from external damages.

Expansion since incorporation[edit]

In April 2015, Kotak Mahindra General Insurance received the license to start the business and since then it has a national footprint of 13 branches spread across India as on 31 December 2017[5]

References[edit]

  1. ^ "Board of Directors & Key Persons - Kotak General Insurance India".
  2. ^ "No.of Employees-Kotak General Insurance".
  3. ^ "KOTAK MAHINDRA BANK ANNOUNCES RESULTS" (PDF). www.kotak.com.
  4. ^ "Kotak General Insurance gets IRDAI certificate".
  5. ^ "About Kotak General Insurance".

External links[edit]