Annual Rep. 2008-09.pmd - The New India Assurance Co. Ltd.
Annual Rep. 2008-09.pmd - The New India Assurance Co. Ltd.
Annual Rep. 2008-09.pmd - The New India Assurance Co. Ltd.
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efo v³et Fefv[³ee SM³eesjvme kebÀ. efue.<strong>The</strong> <strong>New</strong> <strong>India</strong> <strong>Assurance</strong> <strong>Co</strong>. <strong>Ltd</strong>.Estbd. 1919Directors’ <strong>Rep</strong>ort<strong>The</strong> position of grievances redressal cases during the year is as below :Outstanding <strong>Rep</strong>orted during Redressed Outstanding ason 1.04.<strong>2008</strong> the year during the year on 31.03.2009Directly reported to HO-HODT 310 769 776 303Received through IRDA 162 326 343 145Received through Directorateof Public Grievances (DPG) 21 24 35 10Total 493 1119 1154 458XIV. TECHNO MARKETING<strong>New</strong> <strong>India</strong> has a Techno Marketing Department, which plays a proactive role in devising innovativeinsurance solutions for the large corporates in the <strong>India</strong>n Market. <strong>The</strong> process involves identification ofMega Risks in <strong>India</strong> through various sources, constant liaisoning and vigorous follow up to convertopportunities into premium income for the <strong>Co</strong>mpany.Out of the total 47 Mega Risks existing in the country, <strong>New</strong> <strong>India</strong> retains the dominant positionby writing 20 risks. <strong>The</strong> <strong>Co</strong>mpany procured premium of Rs 207.33 crores from this category duringthe year. Apart from this, many Mega Risks availed terrorism cover from International Market.By efficiently sourcing the terrorism capacity, <strong>New</strong> <strong>India</strong> earned a premium income of Rs.15.04 croresduring the current underwriting year. When viewed in the backdrop of falling insurance rates andentry of more number of new players into the Mega Risks insurance market, the premium earnedis quite sizeable. Over and above these, the premium earned from construction insurance formega projects during the year is Rs.35.83 crores. Thus the total premium from this portfolio hasbeen Rs.258.20 crores.<strong>The</strong> <strong>Co</strong>mpany had also taken the lead to widen their activity by accepting proposals with sum insuredbelow Rs.2500 Cr. for evaluation and underwriting. This new class of risk has generatedRs. 16.20 Crores premium for the <strong>Co</strong>mpany as on 31 st March, 2009.XV.PUBLICITY ACTIVITIESPublicity and Marketing play a vital role of promoting the corporate image and popularizing the<strong>Co</strong>mpany’s products among urban, semi-urban and rural masses. No matter what market sharea brand enjoys one has to market one’s product to keep in pace with the ever-changingscenario of globalisation and stiff competition. As quoted by one of the pioneers in advertisingarena – a great advertisement is an advertisement, which generates great sales. So, the <strong>Co</strong>mpanyhas carefully planned and reached out to the target customers through the various advertisingmedias.Electronic Media, Outdoor Media and print media were utilized for publicity purpose. Hoardings andGlow Signs have been placed at many major road junctions, highways, railway stations and airports.Advertisements are also displayed on transit media like buses, trains, aircrafts, baggage trolleys, etc.Banner displays at local events help the <strong>Co</strong>mpany in brand building in rural areas.20
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