Royal Sundaram General Insurance Co. Limited (formerly known as Royal Sundaram Alliance Insurance Company Limited), is the first private sector general insurance
company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India. The company was initially promoted as a joint venture by
Sundaram Finance, one of the most respected non-banking financial institutions (NBFCs) in India and other Indian Shareholders.
In February 2019, Ageas Insurance International N.V. acquired 40% equity stake in Royal Sundaram from the existing Indian Shareholders after necessary Regulatory
approvals. Consequent to this divestment, the stake of Sundaram Finance in our company is currently at 50%, Ageas Insurance holds 40% and the other Indian shareholders
hold the remaining 10%.
Royal Sundaram has been providing innovative general insurance solutions to individuals, families and businesses directly as well as through its intermediaries
and affinity partners. The company offers Motor, Health, Personal Accident, Home and Travel Insurance to individual customers and offers specialized insurance
products in fire, marine, engineering, liability and business interruption risks to commercial customers. Royal Sundaram also offers specially designed products
to the small and medium enterprises and rural customers as well. The company is a pioneer in bancassurace in India, having long-standing tie-ups with reputed banks and NBFCs.
Royal Sundaram has over 2000 employees with 143 branches across India and its products are distributed through various channels-agents, distribution partners,
affinity partners, brokers and online.
Car insurance reimburses the financial losses incurred during accidents or natural calamities such as earthquake, storm, typhoon, man-made calamities, fire, and explosion. The insured get reimbursement of up to the Insured’s Declared Value (IDV) of the vehicle. Apart from personal accident cover, third-party property damage and free road-side assistance (RSA) is also provided.
Royal Sundaram provides assorted health insurance plans to fulfil the different healthcare needs of various individuals. Both individual and family floater plans are provided to cater to the complete medical care needs of different individuals.
1. Lifeline Health Insurance Plan – A comprehensive health insurance policy with family floater option that covers medical expenses arising out of unforeseen hospitalization due to any accident or illness, for self, spouse, and dependent children. The policy has several benefits such as reload benefit, AYUSH treatment, emergency domestic evacuation, worldwide emergency hospitalization and international treatment for 11 critical illnesses.
2. Smart Cash Plan – A health insurance plan that provides daily cash benefit for planned and emergency hospitalization for family and legally related individuals of the proposer arising out of any unforeseen accident or illness.
It is an all-inclusive insurance policy that offers coverage against medical emergencies and travel hazards such as loss of luggage and travel documents, delay in flights, and cancellation. Any infant of more than three months of age and any adult up to 70 years of age can be insured for trips taken outside India.
Two plans are available:
1. Single Trip Travel Insurance Offers cover from the time of departure to the day of arrival in India. Cover for a period of 180 days is available.
2. Multi Trip Travel Insurance Offers cover for multiple international trips.
Royal Sundaram Home Insurance offers protection against natural and man-made calamities and threats such as burglary.
The company has designed two different policies:
1. Home Shield Insurance Offers complete cover for home, residential building, and even the compound walls. It also covers reconstruction cost of home after damage.
2. Home Content Insurance Offer reimbursement of up to Rs. 11.5 lacs for home appliances, furniture, jewellery, and other valuable items placed at home.
