"We are preparing a special contingency policy, which can be customized to suit anyone’s requirement and this will be equally helpful for the NRI communities here" said Mr AK Mittal, General Manager and Financial Advisor of oriental insurance company. He was talking on the sideline of a dinner meet organized by India’s oriental insurance company in Kuwait.
The 67 years old Oriental Insurance Company is wholly owned by Government of India and having three foreign offices including Kuwait, Dubai and Nepal. "Our Kuwait operation is the second largest in our foreign operations. We will be opening our Qatar office very shortly" Mr Mittal told IndiansinKuwait.com.
The entry of foreign companies in the Indian insurance sector gives more opportunity for our growth in India. Currently the insurance penetration in India is only 0.7%. We are 67 years old company and having a very strong capital, we still maintain our lead in the Indian insurance sector, he said.
"We are expecting lot of positive changes from the new government at the center. Modi's projects such as ‘Jan-Dhan Yojana’ etc gives a boost to the insurance sector especially in the rural areas. Since the rural population is accessible to the banking service, Insurance sector can penetrate more on these areas", he said. We have more than 2000 offices across India and in addition to that our company is a tech savvy one and centrally connected with our IT systems. This makes easy for us to serve the rural population, Mr Mittal said.
Earlier Mr Ravikumar from Oriental insurance Kuwait welcomed the gatherings. Indian Ambassador to Kuwait HE Sunil Jain also attended the function. He praised Mr Siddharth Mukharjee, Resident Manager of Oriental Insurance in Kuwait for his great service in Kuwait. Mr Mukharjee said that the company had added responsibility of serving the Indian business community and also giving the insurance solution to NRI population in Kuwait. "Oriental Insurance has a diverse portfolio with customer friendly insurance covers catering to the specific needs of both Urban and rural population of India and we are always in the process of introducing new products in the market, said Mr. Siddhartha Mukherjee.
Oriental Insurance Company started their operation in Kuwait in the year 1985 by appointing Al Mulla group as their agent and is today is one of the largest foreign insurance company in Kuwait. Hormuzda Davar, Head of Financial Services, Al Mulla Exchange proposed vote of thanks.
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