M Rajeshwari Singh, CMD, National Insurance Company
“There should be greater emphasis on retail sector business which has inherently been the strength of the company historically. Corporate relationships would be nurtured for business growth in all the sectors as well,’’ T Babu Paul, executive director
Kolkata: Managing range of key challenges, state owned National Insurance Company(NIC) is now working towards achieving its vision of growth with profitability, company’s CMD M Rajeshwari Singh has said.
“`The current fiscal could generate a profit which would be a turnaround year for the company. NIC is committed to its mission to be the most preferred choice of customers for general insurers by building relationships and growing profitably.’’ Singh said adding that the insurers is focusing a lot on customer satisfaction to grow its business,
Singh was addressing the 119th Foundation Day of NIC, the country’s oldest non-life insurance company, at a glittering function at its corporate head office in New Town Kolkata on 5th December 2024.
T Babu Paul, executive director( ED),NIC, stressed on the importance of building on the 119 year legacy of the company through a strategic vision in tune with the iRDAI mission of insurance for all by 2047.
T Babu Paul, executive director,NIC
“There should be greater emphasis on retail sector business which has inherently been the strength of the company historically. Corporate relationships would be nurtured for business growth in all the sectors as well,’’ he said.
During the occasion, NIC launched two new products in the Motor Portfolio. The unique products can be termed as a game changer for the Motor Insurance industry. Pay as you Drive and Long Term Motor OD Policies are designed to provide hassle free insurance solutions at competitive pricing.
NIC has recently declared its results for Q2 FY 2024-25.There has been a significant turnaround by the company as it posted a net profit of Rs 81 crore for FY25 with 80 per cent YOY growth.
Recently, the insurer, after many years, ,has added 262 new direct recruit officers to its workforce.
The company is also making endeavors to further enhance the customer experience through various digital initiatives and effectively supporting its policyholders through its vast network of 868 offices spread across India and also in Nepal, with a highly skilled workforce of over 7000 employees