HDFC ERGO General Insurance Company

HDFC ERGO is a 51:49 joint venture firm between HDFC and ERGO International AG, one of the insurance entities of the Munich Re Group in Germany operating in the insurance field under the BFSI sector. The company offers products in the retail, corporate and rural sectors. The retail sector products are health, motor, travel, home, personal accident, and cybersecurity policy. Corporate products include liability, marine, and property insurance. Rural sector caters the farmers with crop insurance and cattle insurance.

HDFC ERGO General Insurance Company Limited
TypeJoint venture
IndustryFinancial services
HeadquartersMumbai, Maharashtra, India
Key people
Mr. Ritesh Kumar MD
ProductsGeneral insurance
Health insurance
Vehicle insurance
Travel insurance
Home insurance
Accidental insurance
Commercial Insurance
Rural insurance
Revenue ₹56.06 billion (US$790 million) (2020)[1]
₹4.6 billion (US$64 million) (2020)[1]
₹3.3 billion (US$46 million) (2020)[1]
Total assets ₹25.42 billion (US$360 million) (2020)[1]
Number of employees
3,899 (2020)[1]
ParentHDFC (51%)
Ergo Group (49%)
Websitewww.hdfcergo.com

History

HDFC Ltd. And ERGO International AG formed a joint venture firm named HDFC ERGO General Insurance Company Limited. ERGO became a 49% stakeholder in the Company in 2015.

Technology

The firm's website has an AI-based chatbot DIA which can answer many of the queries. HDFC ERGO General Insurance has adopted the Robotics process automation and voice analytics to improve customer experience. With these technologies, the company claims to process health insurance in 15 minutes and issues Health and Motor Insurance Policies to the customers within 5 minutes through the digital platforms. A mobile application, the Insurance Portfolio Organiser (IPO) app, has also been built and offers its services based on geo-location.[2][3][4] [5][6][7][8]

References
  1. "HDFC ERGO General Insurance Company Ltd. Financial Statements" (PDF). hdfcergo.com.
  2. "Board of Directors & Key Persons - HDFC ERGO General Insurance Company".
  3. "History of HDFC ERGO Health (formerly Apollo Munich)".
  4. "Apollo Munich: Healthy profits from Unhealthy People".
  5. "HDFC ERGO Insurance App – Apps on Google Play".
  6. "HDFC ERGO General Insurance to seek IRDAI nod to merge with ERGO Health".
  7. "HDFC ERGO General Insurance Company - The Economic Times".
  8. "HDFC-Apollo Munich Pact Underlines deals trend in Health Insurance, but Risks Abound".
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