Girija Subramanian, CMD, New India Assurance
This is also for the first time a serving CMD of a state owned insurance company had appeared for the interview for selecting a CMD of another PSU insurer
New Delhi: Girija Subramanian, 58, CMD, Agriculture Insurance Company(AIC) has taken over as the CMD of New India Assurance(NIA) here on Wednesday afternoon.
Earlier today, the Ministry of Finance had issued the order appointing Subramanian as the new CMD of NIA after the getting clearance from the Appointments Committee of Cabinet(ACC).
Subramanian, who had started her career as an officer in General Insurance Corporation in 1988, will have a tenure upto July 2026 at NIA. She had joined AIC in Sept 2022.
The post of CMD of NIA had fallen vacant after Neerja Kapur had retired in Apr end.
This is also for the first time that NIA , India’s largest general multinational, is being headed by an officer who is not from the company.
This is also for the first time a serving CMD of a state owned insurance company had appeared for the interview for selecting a CMD of another state owned insurer.
Subramanian had appeared for the interview along with other eligible general managers in March conducted by the government’s head hunting agency,FSIB,for selecting officials above executive directors in the PSU banks and insurers, to be chosen as CMD of NIA.
The PSU general insurance industry is now keenly waiting for the appointment of executive directors(EDs) after the due approvals of ACC.
The interview for selecting member, Non-Life, IRDAI is also pending. It was supposed to be held on June 10 but got postponed.
Is it really a performance based selection on merit?
Good for PSUs!
Congratulations Madam, New India Assurance claims settled immediately and are good And very good way of communicating to the company advisors
Heartiest congrats and blessings to smt. Girija on becoming CMD of NIA
Madam should improve company’s pending claims fast
NIA’s settlement of claims is very poor. They don’t even bother to respond to correspondence nor returns the patient’s reports submitted during claims. Irresponsible approach BUT PROMPTLY increase the premiums periodically. No recognition to loyalty, look only for ROYALTY.
Even IPO allottees of shares are losing, even in this bullish market.
CMD should note please
Also Madam, Please check corruption, expenditure, staff behaviour. Vouchers are a racket.
Demolish collusion nexus which increase claims. Surveyors Agents Development offs need to b respected. Use AI tools.
Check discipline please.
Corruption is there; no doubt.
EVs and other challenges in medical insurance are there. People have grievances on claims. TPA Hospital nexus is rampant. Venture into new areas. Generate revenues for Centre. S.Shankar Ghaziabad
Congratulations on your appointment as CMD of NIA
Congratulations.
Madam ji.
Hope under your dynamic leadership, the justice shall prevail now.
I am a surveyor, working in Srinagar – Anantnag in jammu ad kashmir state.
I wish you best of luck.
May you progress day by day.
From .Muhammad Ilyas suharwardi …insurance Surveyor
Surveyors are facing a lot of problems, injustice .
Allotment of survey job is not being done as per the rules and regulations laid in SMP.
Surveyors are idle since last one year.
Hope your goodself will look into this all.
Congratulations
Madamji
I am Ramesh, working as agent
Feed back from Agents are not being taken, even if it is taken, if it is good for business it is not being implemented
Approvals from Regional office is very slow lot of follow ups are required. Why we have to follow up? Is it not their duty to give approvals, if it is in order
Kindly, clarify whether we can give quotes for Renewels of other public sector companies. Renewals of companies including group medical coverage (GMC)
Whether finance ministry circular still holds good?If it is still there, kindly make efforts to remove the it since, IRDA has removed all guidelines and Tariff nowadays
Kindly take feed back from us regarding market conditions
Thanking you
Ramesh
New India Assurance Co Ltd is one of most Corrupt PSUs of India. Very recently a manufacturing company based in Pune imported Goods worth of Approx Rs. 4.00 Crores and were destroyed in fire occurred in Godown at Customs Port.
Various letters were written to New India Assurance but but no Reply received.
I being an Advocate & a very Senior Executive of Company went to meet then CMD Ms Neerja Kapoor, we were made to wait in front of her office for hours.
After some time her Secretary directed us to some AGM.
He also made us to wait for hours, then he came out told to us he won’t meet any of us. Then a Middle man approached us asked for a Commission of Rs.50 Lakhs to settle the Claims. The Director of Manufacturing Co whose goods were destroyed even wrote to Finance Minister about the incident but nothing happened.
Ultimately, the Company filed a writ petition in Bombay High Court and got the order in their favour. But New India Assurance Co deducted a big amount from the Insurance Claim.
I suspect that most of fire occurs in warehouses, may be a deliberate act . God save this country
Madam
Congratulations on being CMD
We hope under your leadership the company scale greater heights
The customers who satisfied may give good account of the company
Those who experienced may have remained as bad experienced one
We cannot satisfy everyone with money.However who have to reach the customer wit better customer service
Most of the executives are afraid to take decisions
They are unable to approve small claims like marine of rs 5 lac / 40 k
Unable appoint survey taking 10 days to do the job
WC claim laying years to gather
Jamshedpur DO
Unable to provide reasonable quotes to take a lead mostly depends on competitors quotes
These are the areas to be tuned to our experience
Hearty congratulations on your heading India’s Premier Multinational General Insurance Company Mam.
We wish you every success in your new assignment.
Congratulations Madam
There is a need of law that awards especially in heavy amounts paid by insurers in instalments. In any accident case, total amount at one time will put insurance companies in difficulty situation. Now award amounts are heavy, whereas premium is not in such ratio. MV act is to be amended further so that effect the new rule of paying the award amount in installments.
Insurance companies are getting troubles in Essential Commodities Act (ECA) cases. Epecially lorry employees drivers and cleaners file ECA case in respect of interest portion is concerned.
Interest is to be paid one month after the date accident even case can be filed without limitation period.
In fact, vehicle owner has to deposit the amount before filing of case but practically it is not happening that way simply because some times some owners appear and some owners do’not contest. Overall ,interest burden is going to be paid by the insurance companies.
ECA Act is to be amended so that interest should be from date of claim petition with 6 percent interest per annum. Central Government is requested to take steps to effect an amendment in ECA Act.
Attachment of movables is to be amended especially in Insurance companies cases.In civil procedure code ,farmer is given respect..There are restrictions in Attachment of movables.I find Attachment of movables which are chairs and computers,tables office furniture of Insurance companies should be placed in exempted list from attachment. Because,if these are attached,customers and staff will suffer and Insurance company fame will be introuble.Hence Central government have to take steps for amendament of civil procedure code especially Attachment of movables ie chairs and tables computers etc.These should be placed in exemption list of Attachment.
Earlier Mr D Sengupta, Mr B Chakrabarti who was from other PSU’s headed NIA.