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Learn about SBI General Insurance (A Guide)
SBI General Insurance is one of India’s largest general insurance companies. The company has a wide portfolio of insurance products in the health insurance, motor insurance, home insurance, and travel insurance sector.
SBI General Insurance has a massive Pan-Indian presence with over 21000+ full-time employees across 5500+ branches. The largest shareholder of the company is Indian banking behemoth State Bank of India (SBI).
The article will aim to talk about the following most important aspects with respect to SBI General Insurance:
- Company shareholding
- Company management
- Important insurance statistics
- Insurance plans
- Customer care
If you are a person looking to buy an SBI General Insurance policy, this article is for you.
Company shareholding
Shareholder | Percent Owned |
State Bank of India (SBI) | 70% |
Napean Opportunities LLP | 16.01% |
Honey Wheat Investment Ltd | 9.99% |
PI Opportunities Fund-1 | 2.35% |
Axis New Opportunities AIF-I Fund | 1.65% |
Company management
Name | Designation | |
Mr. Dinesh Kumar Khara | Chairman | NA |
Mr. Ashwini Kumar Tewari | Managing Director | |
Mr. Pushan Mahapatra | President – Strategic Investments and Digital Initiatives | |
Mr. Rikhil Shah | Chief Financial Officer | |
Gayle Adams | Chief Actuary | https://in.linkedin.com/in/gayle-adams-cera-fiai-fiaa-5a65829 |
Mr. Atul Suresh Deshpande | Chief Operating Officer |
Important insurance statistics
Claim settlement ratio | Total customers (As of 2021) | Network hospitals | City presence | Claims handled (in Rs) |
6.8 crore | 6000+ | 125 cities | 11000 crores |
Insurance plans
SBI General Health Insurance Plans (Retail)
| Plan name | About the plan |
|---|---|
| Arogya Sanjeevani Policy | Arogya Sanjeevni policy is SBI Life’s no-frills health insurance policy. The policy is a basic health insurance policy that provides coverage from 1 Lakh – 5 Lakhs. |
| Arogya Premier Policy | This policy is similar to the Arogya Sanjeevni Policy. The key difference is that the coverage amount ranges from 10 Lakhs – 30 Lakhs. |
| Arogya Plus Policy | Arogya Plus Policy provides the policyholder coverage up to 3 Lakhs at a reasonable premium. |
| Arogya Top up Policy | This is a top-up plan. You can take this plan along with another regular policy to enhance your coverage at a very nominal rate. |
| Critical Illness Insurance Policy | This policy provides a fix lump sum payment in case the patient suffers a critical illness like stroke, paralysis, blindness, etc. |
| Retail Health Insurance Policy | The Retail Health Insurance Policy provides a coverage up to 5 Lakhs for the entire family. Ayush, mental treatment, etc are also covered under this plan. |
| Group Health Insurance – SBI | This policy has the ability to cover various members of your family under a single group health insurance plan. This plan is usually good for large families. |
| Hospital Daily Cash Insurance Policy | This policy will only provide a policyholder with a fixed daily cash allowance that he/she can use towards food, travel, etc. Maximum daily cash value is up to Rs.5000. These kind of policies are should be taken along with a comprehensive policy. |
| Loan Insurance Policy | This policy insures the policyholder against any loan default that may occur due to any sudden sickness, accident, and loss of employment. |
SBI General Health Insurance Plans (Corporate)
| Plan name | About the plan |
|---|---|
| Group Personal Accident Policy | This policy provides protection against accidents. Sum insured is up to 20 Lakhs. |
| Group Health Insurance Policy | Companies can opt for this plan to provide comprehensive health insurance to their employees. |
| Arogya Sanjeevani Group Product | This is a basic health insurance product that companies can opt for towards their employees. Max coverage is up to 5 Lakhs. |
SBI General COVID-19 Insurance Plans
| Plan name | About the plan |
|---|---|
| Corona Kavach Policy | This policy provides protection against COVID-19 up to 5 Lakhs |
| Corona Rakshak Policy | This policy provides protection against COVID-19 up to 2.5 Lakhs |
SBI General Motor Insurance Plans
| Plan name | About the plan |
|---|---|
| Private Car Insurance | You can insure your private car using this policy. Both third-party and comprehensive car insurance plans are available to the policyholder. |
| Bike Insurance | You can insure your motorbike under this policy. Comprehensive and third-party insurance options are available. |
| Motor Act Only Insurance (Care & Bike) | This is the mandatory third-party insurance that is compulsory under the Indian Motor Vehicles Act. Every vehicle owner needs to buy this insurance in order to legally drive on Indian roads. |
| Trailer Insurance | This policy insures commercial trailers. |
| Commercial Vehicle Policy | This policy provides third-party as well as comprehensive motor insurance for your commercial vehicles like buses, taxis, etc. |
SBI General Accident Insurance Plans
| Plan name | About the plan |
|---|---|
| Individual Personal Accident | This plan provides accidental coverage up to a decent amount of 1 crore. |
| Saral Suraksha Bima | This plan provides accidental coverage along with partial and complete disability coverage up to 1 crore. |
SBI General Home Insurance
| Plan name | About the plan |
|---|---|
| Bharat Griha Raksha Plan | This policy can be availed by home owners, tenants, and landlords. Policy provides protection against theft, damage, loss of rent, loss of valuables, etc. |
SBI General Travel Insurance
| Plan name | About the plan |
|---|---|
| Travel Insurance | Planning to take a business or leisure travel abroad? Ensure that you take a travel insurance policy that protects you against medical expenses, personal liability, accidents and more. |
SBI General Marine Insurance
| Plan name | About the plan |
|---|---|
| Marine Cargo Insurance – Open Cover | Traders and shippers can avail of this policy’s benefits. Coverage includes accidents, fire, lightning, among more. |
SBI General Engineering / Construction Insurance
| Plan name | About the plan |
|---|---|
| Electronic Equipment Insurance | Important industrial electronic equipment like cellphone towers, super computers, microprocessors, data storage, etc can be covered under this policy. |
| Contractors All Risks (CAR) Insurance | Big civil engineering projects can avail of this policy. Coverage can be provided against construction, storage, among others. |
| Latent Defects Insurance | This policy covers the insured against risks arising from any latent defects during the construction phase. |
| Erection All Risks (EAR) Insurance | An EAR policy provides protection against all risks arising out of erection of a project. |
| Contractors Plant & Machinery Insurance | This policy provides coverage against loss of contractors plants or machinery. |
| Machinery Breakdown Insurance | Like its namesake, the policy provides protection against breakdown of heavy machinery during the construction phase. |
| Boiler & Pressure Plant Insurance | This policy provides insurance against damage caused to boilers and pressure plants. |
SBI General Fire Insurance
| Plan name | About the plan |
|---|---|
| Standard Fire & Special Perils | This policy provides indemnity due to damages caused by fire. |
| Bharat Sookshma Udyam Suraksha | This is a comprehensive property insurance policy that provides protection against fire, earthquakes, terror attacks, etc. Max coverage is up to 5 crores. |
| Consequential Loss | This policy provides protection to the policyholder against business losses incurred due to loss to insured property. |
| Bharat Laghu Udyam Suraksha | This is a policy that provides a large coverage up to 50 crores. Coverage includes fire, lightning, explosion, storm, etc. |
SBI General Liability Insurance
| Plan name | About the plan |
|---|---|
| Errors and Omission Liability Insurance | This policy provides indemnity towards errors and omissions by senior company management. |
| Event Cancellation Insurance | There are times when certain business events are cancelled. This can cause a loss to the organizer. This policy provides protection against the same. |
| Directors & Officers Liability Insurance | This plan protects the company against any damages caused due to mistakes of the company’s directors and officers. Coverage includes legal expenses. |
| Broad Form Liability | This policy provides protection against a broad range of liabilities like product errors, product recall expenses, pollution cover, etc. |
| Public Liability Insurance Act Policy | This plan provides protection against a variety of public liabilities that may arise for a company. Coverage includes legal expenses, court-ordered compensation, lift mishaps protection, food and beverage related risk protection, among others. |
| Employees Compensation Policy | This policy provides compensation to an employee due to accident caused while conducting official company work. |
| Clinical Trial Insurance | This policy provides coverage against damages and risks arising out of conducting clinical research related work. |
| Commercial General Liability Insurance | This plan provides indemnity against damages arising due to errors and mistakes of a company. |
| Cyber Defense Insurance | This policy protects the hi-tech systems of a company. Risks arising out of hacking, ransomware, privacy breach, data theft, etc are covered under this policy. |
SBI General Rural Insurance
| Plan name | About the plan |
|---|---|
| Cattle Insurance | Farmers can avail this plan to provide protection to their cattle against death, sickness, fire, riot, earthquake, famines, etc. |
| Micro Insurance | This policy is usually targeted towards providing coverage to low income groups. The coverage amount and premium are both low in this type of insurance products. |
| Agricultural Pump Set Insurance | This policy provides protection against loss or damage caused to an agricultural pump set arising out of fire, earthquake, riot, mechanical and electrical disorder. |
| Sheep and Goat Insurance | Farmers can buy this plan to provide coverage to their sheep and goat against death, sickness, fire, riot, earthquake, famines, etc. |
| Pradhan Mantri Fasal Bima Yojana | This is a comprehensive crop insurance scheme designed to protect the farmers against crop loss arising due to fire, famine, drought, pests, floods, etc. |
| Gramin Samriddhi Bima | This policy provides coverage against a host of rural risks like tractor insurance, pump set insurance, animal cart insurance, and more. |
SBI General Miscellaneous and other Insurance (Corporate Sector)
| Plan name | About the plan |
|---|---|
| Money Insurance | This is a policy that protects against theft, loss, destruction of money while in transit, while in safe or in premises. |
| Burglary Insurance | This plan provides coverage against theft, damage and loss caused due to burglary. |
| Sign Board Insurance | This policy provides coverage against vandalism and damages caused to sign boards. Third-party insurance is also provided under this plan. |
| Modified National Agriculture Insurance Scheme | This policy provides coverage against crop loss caused due to fire, drought, pests, floods, lightning, and more. |
| Trade Credit Insurance | This is a policy that provides protect to a trader (seller) against delay or non-payment from the buyer. |
| Aviation & Hull Package Insurance | Damages caused due to aviation hull related activities are covered under this plan. |
| SME Package Insurance | Small and medium corporations can make use of this policy to protect themselves against risks like fire, explosions, riots, landslides, theft, and more. |
| Cellular Network Insurance | Under this policy, cell towers are protected against acts of vandalism, software errors, material damage, third-party liabilities, among others. |
| Baggage Insurance | This policy provides protection against loss of baggage while traveling for business or leisure. |
| Portable Electronic Equipment Insurance | Equipment like laptops, cameras, medical equipment, etc can be covered under this policy. |
| Weather Insurance | This policy protects farmers against crop loss caused due to irregular weather conditions. |
| Mega Risk Insurance | This insurance product provides insurance for very large projects upwards of 2500 crores or more. |
| All Risk Insurance Policy | This policy provides insurance for a whole host of items like books, paintings, art, antique furniture, expensive jewelry, precious metals, and more. |
| Delay in Start Up (DSU) Insurance | This policy provides compensation to the insured in alignment to the loss caused due to delay in starting up of a venture caused due to certain unforeseen events. |
| Kidnap, Ransom and Extortion (KRE) Insurance | This policy provides coverage against the unfortunate event of the insured being kidnapped. Risks covered include detention, extortion, and hijacking |
| Oil & Energy Risk Insurance | This policy indemnifies the insured against losses occurring due to unfortunate events while constructing oil and energy projects. |
| Fidelity Guarantee Insurance Policy | This policy provides protection against fraud committed by an employee of a corporation. |
Customer care
You can reach out to SBI General Insurance in a host of different ways. The company can be contacted through phone, email, web-form.
Customer care number | Email ID |
1800 102 1111 | customer.care@sbigeneral.in |
Customer care web-form
You can also request a call back from SBI General Insurance by filling their web-form.