OICL (orientalinsurance.org.in)
Oriental Insurance Company Ltd. is one of the public sector insurance companies in India. Here’s an overview of its background, services, and features:
Oriental Insurance was initially a subsidiary of the Oriental Government Security Life Assurance Company Ltd. It was established to cater to the needs of insurance for the Indian population. In 1956, when the insurance industry in India was nationalized, Oriental became part of the General Insurance Corporation of India (GIC). It remained as a subsidiary of GIC until 2003, when it was delinked and became an independent public sector insurance company.
Oriental Insurance offers a wide range of insurance products to cater to different segments of the market. These include:
Oriental Insurance has been recognized for its strong performance and contribution to the insurance industry in India. It has received various awards and accolades for its services and customer-centric approach.
As a public sector entity, Oriental Insurance regularly publishes its financial statements, showcasing its performance, solvency, and profitability. The company’s financial health is crucial for maintaining trust among policyholders and stakeholders.
With the ongoing evolution of the insurance sector in India, Oriental Insurance aims to expand its product offerings, improve digital capabilities, and enhance customer service to maintain its competitive edge and continue serving the diverse insurance needs of the Indian population.
This brief overview provides a snapshot of Oriental Insurance Company Ltd., highlighting its role, offerings, and importance in the Indian insurance landscape.
