United India Insurance: United India Insurance was registered as a company on the 18th of February in 1938. It was formed by merging of 22 companies, subsequent to nationalization of General Insurance in India. The work force comprises of about 18300 employees across 1340 offices and provides insurance cover to about a Crore policy holders in the country as the services cater to bullock carts to satellites.
Reaching the masses was one of the aims the company fulfilled under the Universal Health Insurance program of the Government of India and Vijaya Raji Janani Kalyan Yojana which covered about 45 lakh women in Madhya Pradesh, National Livestock Insurance, Tsunami Jan Bima Yojana across 4 states and covering about 4.95 lakh families, and many such schemes.
United India Insurance Company Limited was awarded an \'iAAA\' rating which was given for its insurance claims paying capabilities by ICRA for the third successive year. The Export Credit Guarantee Corporation of India Ltd., (ECGC) signed an agreement with United India Insurance Company Ltd (UIICO), on the 16th of May, 2008 to provide marine insurance cover for its customers.
It will act as add on benefit for policy holders provided through branches of United India Insurance. Along with personal and commercial policies offered by the company there are miscellaneous policies catering to areas such as Mediclaim, Rural, Travel, Package, Business and Social.
The main aim is directed towards helping in minimizing national waste to develop the Indian Economy in the long run. India with around 200 million middle class household shows a huge undiscovered potential for companies in the insurance industry.
United India Insurance aims at providing its services which meet with requirements providing optimized services in the market for individuals waiting for enhanced opportunities they can possible get hold of. A research conducted by the Government and different players in the industry exhibited that the rural consumers are willing to give away anything between Rupees 3,500 and Rupees 2,900 as premium each year.
In the insurance sector the awareness level for life insurance is highest in the rural segment of the country and United India aims at attracting these customers for the benefit of the society.
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