Kotak Mahindra General Insurance
Kotak Mahindra General Insurance is a 100% subsidiary of Kotak Mahindra Bank Ltd, it was incorporated in December 2014 and received an approval from the Insurance Regulatory and Development Authority to start a General Insurance business in April 2015, post which it commenced business operations from December 2015 onward.
 | |
| Type | Subsidiary |
|---|---|
| Industry | Financial service |
| Founded | 2015 |
| Headquarters | Mumbai, India |
Key people | Mahesh Balasubramanian (MD & CEO)[1] |
| Products | General insurance Vehicle insurance Health insurance |
Number of employees | 354 (as on 31 December 2017)[2] |
| Parent | Kotak Mahindra Bank |
| Website | www |
The company aims to cater to a wide range of customer segment & geographies offering an array of non-life insurance products like Motor, Health, and others.
Kotak Mahindra Bank, a part of Kotak Mahindra group founded by Uday Kotak. Its wide range of products caters to the financial needs of individuals & businesses alike. In Feb 2003, Kotak Mahindra Finance Ltd., the group’s flagship company received a banking license from the Reserve Bank of India, becoming the first non-banking finance company in the country to convert into a bank.
Kotak Mahindra Bank has a network of 1,369 branches across 689 locations and 2,163 ATMs in the country (as of 31 March 2017).[3]
History
Kotak Mahindra General Insurance received the license to conduct general insurance business in India from the Insurance Regulatory Development Authority of India (IRDAI) in April 2015.[4]
Key persons
- Mahesh Balasubramanian- Managing Director and Chief Executive Officer (MD & CEO)
- Eswaranatarajan N- Chief Operating Officer
Products and services
Kotak Mahindra General Insurance provides various general insurance policies in India which are listed below-
- Kotak Secure Shield - Critical Illness Insurance and Kotak Health Care – Health Insurance Plan
- Motor Insurance- Car Insurance, 2 Wheeler Insurance, Goods Carrying Vehicle, Miscellaneous vehicles (Excavators, Tractors) and Passenger vehicles (Bus, Van).
- Third Party Liability – For all the above-mentioned Motor Insurances Kotak Mahindra General Insurance provides 3rd party liability insurance to secure your vehicle from external damages.
Expansion since incorporation
In April 2015, Kotak Mahindra General Insurance received the license to start the business and since then it has a national footprint of 13 branches spread across India as on 31 December 2017[5]