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Universal Sompo General Insurance Pvt Ltd

Written by Hannah Punitha, PG , Dr. Sameer Sippy | Medically Reviewed by Dr. Sunil Shroff, MBBS, MS, FRCS (UK), D. Urol (Lond) on Oct 09, 2020
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Universal Sompo General Insurance Pvt Ltd received the License and Certificate of Registration from IRDA (Insurance Regulatory and Development Authority) in November 2007. It is a first of its kind venture, i.e. Public - Private Partnership in General (Non-Life) Insurance Industry. It is joint venture between Allahabad Bank, Indian Overseas Bank, Karnataka Bank Ltd, Dabur Investment Corporation and Sompo Japan Insurance Inc. Sompo Japan Insurance Inc. is a Fortune 500 Company with a capital of 70 billion yen, headquartered in Tokyo. The company has its presence in 27 countries and its total premium income for 2006 - 2007 was in excess of Rs.50,000 crores, twice that of the Indian General Insurance industry.

Health Insurance

The joint venture has been capitalized with shareholders funds of over 230 cr. including share premium.

The Company received the Licence and Certificate of Registration from Insurance Regulatory and Development Authority in November 2007.


Three of the Indian partners are leading banks with a combined asset base of Rs. 92,602 crores and over 4000 branches and distribution centers. Plus the 4th largest FMCG company in India with over 15 million retail outlets. The JV partners will extend their vast distribution reach and customer base for soliciting our bouquet of non-life insurance business. In addition, the company's distribution network will also consist of brokers, agents and focused below the line direct marketing promotions.

Sompo Japan Insurance Inc. Headquartered in Tokyo, is a Fortune 500 Company with a capital of 70 billion yen, is present in 27 countries - has over 15,000 employees and 69,028 agents and its total premium income for 2006 - 2007 was in excess of (equivalent to) Rs.50,000 cr. twice that of the Indian General insurance industry.

The company is present across almost all product lines, classified into five major classes: Property, Marine, General Accident, Workmen Compensation and Motor.

Products and services for the individual, corporate and small entrepreneur

Drawing upon the financial strengths and distribution reach of Indian partners and backed by insurance expertise of Sompo Japan, Universal Sompo intends to be a diversified player, participating in healthy competition to augment insurance capacity in the country through prudent underwriting, offering innovative and customized Risk Solutions to range of customer segments including Rural and Social sector, utilizing varied Distribution channels.

Our bouquet of insurance products includes Health & Critical Illness, Personal Accident & Disability, Home, Motor, Property for individuals, Offices, Shopkeepers Package and other non-life packages for Small Entrepreneurs, besides Employee Benefit, Operational, Project Insurance, Liability and other special products for Corporates.

Customer Service Commitment

Understanding that Claims service is at the heart of an insured-insurer relationship, our Claims philosophy is to 'to achieve fair and timely settlement through proactive management of each claim in a customer friendly and transparent manner. 'Our aim is to help our customers quickly tide over the financial loss arising out of the incidence of a covered peril so that they can get back to normal 'Life & Business As Usual'.

Our 24 hours Helpline, SMS and web enabled service platform for customer guidance, claim forms, processes, Dos and Don'ts, FAQs, minimal documentation, cashless claim settlement, pan India network of service providers, quality screened partners, on-account payment in case of large loss are some other efforts to ease claimants' anxieties and to make sure that our customers get the best possible service at all times.

Corporate Responsibility

Corporate Responsibility (CR) is about how our core business principles translate into commitments for each of our key stakeholders, Customers, Employees, Business Partners, Regulators, Shareholders, Community and Environment.

In line with our mission statement, an important CR issue that we will work to address would be, to develop market leading understanding of safety and risk management in the society - down to the individual property level, providing preventative advice to our customers.


Salient features of Universal Sompo

  • Our world class products and services
  • Our strong lineage of financial giants with proven track record
  • Our pan India distribution and servicing capability
  • Our Honest prices
  • Our simple worded, easy to understand policy documents, terms and conditions
  • Our customized and innovative Risk solutions
Website: www.universalsompo.com

Disclaimer: This information is extracted from the company’s official website to provide information to the general public. The information is likely to change based on the concerned insurance companies’ discretion. Alterations, deletions and/or additions to the existing policy products, coverage and their premiums may be enhanced or reduced. These figures are only guidelines. We recommend the individual to visit the official website of the insurance company for more details and updates.

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i had your policy no 2824/52588757/02/0000 from karnataka bank, allahabad. for last 3 years, i was admitted at Nazareth hospital allahabad on 24th may 2015 at around 12.30 a.m. and was discharged on 25th may 2015 in the afternoon. i gave the claim to your representative Mr. Amit Jaiswal on 2nd june 2015 the claim was of around Rs.6000/-. It was promised that the claim will be settled within 15-20 days i.e. is around 20-25 th june 2015 when i contacted your representative at Allahabad Bank civil lines allahabad then i came to know that mr. amit jaiswal has left the job. Another person Mr. Akaram helped me in tracessing the documents. After two days of his labour he found the documents in the Almira. He processed the document around 30th june 2015 since then query after query are comming. I met your Brance Manage Mr. Rahul at your ashok nagar, allahabad office. He took all the required papers in around 15th july 2015 and after about one month later around 20th august 2015 a representative of e-meditk came and again took all the photocopy of all the papers again and letter from. He went to the Nazareth hospital for verification the hospital people told him that they don't put the time of discharge of the discharge certificate as the patients the discharged generally after the doctors visit either in the morning or in the evening. the claim is of just Rs.6000/- and it seems that your company use to harass the people who don't go on your listed hospitals for cashless treatment. Till date there is query and no settlement. this shows that the company have no faith in his own staff and the staff have no faith in the company that is why the staffs are leaving the company. It seems that the company is good but the management is very very bad or worst as they are interested in their listed hospital only so that their personal interests are met. the management of the company is not interested in the welfare of the company or of company customer


Hi Every one. First time i have opted for Healtcare plus.It was one month before i have given my cheque for premium.On the next day they have deducted the amount from my account towards the premium.But till date i have not recieved any documents related to the policy from Bank/Insurence company. Got a careless answer from bank when i started doing followup regarding the documents. As this is a PSU , no one is interested to take the responsibility.They are just saying to wait for one more week.Now , my doubt is , in the inetial stage only if their response is like this , @ the time of claim how they are goint to response. Im in a total confusion now.


the management of the company is hope less they are interested in development of themselves and not of Customer not only this when you will admitted in the hospital which is not listed then u will face alot of problem as i am facing since june 2015 and till date i have not got the claim and i don't know weather will get or not


I have your IOB health policy of Rs.50000 sum assured since last 3 years. Can i increase the sum assured to 1 lakh or 2 lakh during next time renewal without affecting my policy seniority. no claims during last 3 years. please reply regards


good achivement sir


provided various good things about your company, However, i took health policy from IOB, Bandra-Mumbai in April 2011, but yet not received any thing including policy documents as well as Medical card. so, i presumes that your service is not up to the mark, although, you claimed for it. i am not happy with your service. with regards,

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