LEADING FROM THE FRONT TO SERVE THE NATION
The Oriental Insurance Company Ltd, operates with high responsibility and maintains the trust of its customers and stakeholders. As a responsible company, it believes in giving back to the society, especially when the country is facing a crisis in form of a pandemic.
The Oriental Insurance Company Ltd. was incorporated at Mumbai on 12th September 1947. The Company was a wholly owned subsidiary of The Oriental Government Security Life Assurance Company Ltd and was formed to carry out General Insurance business. The Company was a subsidiary of Life Insurance Corporation of India from 1956 to 1973 ( till the General Insurance Business was nationalized in the country). In 2003 all shares of our Company held by the General Insurance Corporation of India were transferred to the Central Government. The Company is a pioneer in laying down systems for smooth and orderly conduct of the business. The strength of the Company lies in its highly trained and motivated work force that covers various disciplines and has vast expertise. Oriental specializes in devising special covers for large projects like power plants, petrochemical, steel and chemical plants. The Company has developed various types of insurance covers to cater to the needs of both the urban and rural population of India. The Company has a technically qualified and competent team of professionals to render the best customer service. The company has vision to be the most respected & preferred Non-Life Insurer in the markets we operate.
As a responsible company that cares for the customers, employees, stakeholders, it has identified 10 focus areas that is followed in letter and spirit.
- Act as a financially sound corporate entity with high business ethics
- Implement best human resource development practices to build a highly efficient, dedicated and motivated workforce with high morale and moral values
- Optimally utilize the information technology infrastructure
- Provide excellent customer service
- Run the business profitably prudent underwriting and efficient & proper claim management
- Effectively manage our reinsurance operations
- Effectively manage our investments for optimising yield
- Have effective risk management systems
- Improve the penetration of non-life insurance by proper underwriting, innovation & marketing
- To evolve as a vibrant & dynamic leading non-life insurer
The Oriental Insurance Company Limited’s, Corporate Social Responsibility philosophy is delineating its responsibility as a Corporate Citizen and laying down the guidelines and mechanism for undertaking socially useful programmes for welfare & sustainable development of the community.
The Company has constituted CSR (Corporate Social Responsibility) Committee, a Sub-Committee of the Board of Directors of the Company. All the activities listed in Schedule VII of the Companies Act, 2013 and any amendments thereof are taken as thrust areas for the purpose of focusing its CSR initiatives in a continuous and effective manner. A Corporate CSR Department under the guidance and supervision of GM (CSR) has been set up to implement, monitor and evaluate CSR Activities undertaken in the Company. The services of Regional Offices of the Company spread across the Country are also utilized for implementation of CSR initiatives in various parts of the Country.
The Vision for CSR is that ORIENTAL INSUARANCE, in its role as a socially responsible corporate citizen will endeavor to participate in programmes that benefit the society at large and also those who need special assistance. The objective of ORIENTAL INSURANCE for CSR is to operate its business in an economically, socially & environmentally sustainable manner, to directly or indirectly take up programmes that benefit the community, enhance the quality of life for people for whom the specific programme is designed, to create community goodwill and enhance its socially responsible image.
The Company launched its CSR activities on its 67th Founder’s Day on 12th September, 2014 by organizing an Educational Trip for 500 children living in orphanages under control of Department of Women & Child Development at Azad Hind Gram, an historic and education spot under control of DT & TDC, housing a museum on famous freedom fighter, Netaji Subash Chandra Bose, and giving an insight on heroic activities of Azad Hind Fauz which played an important role in India’s freedom fight against British Government.