Life Insurance

We provide Life Insurance that helps you safeguard your family from financial worries that arise due to unfortunate circumstances. There is wide choice of Term/Endowments plans which are pure life cover plans with or without maturity benefits. These pure risk plans cover your life at a nominal cost. High insurance cover at lower costs Financial security against loans and mortgages Single premium payment option Host of additional rider benefits
+91-11-66222266
smc@smcinsurance.com

General Insurance

We provide our expert services to arrange General insurance which virtually covers all forms of insurance except life, some of them are illustrated below:

• Insurance of fixed and movable property (against Fire, Burglary & theft, All risks, Breakdown, Loss of profit/Consequential loss);
• Transit Insurance
• Fleet and Individual Motor Insurance
• Group and Individual insurance covering Health, Travel and Personal Accident;
• Liability insurance covering all types of legal liabilities such as Directors and Officers liability, Commercial General Liability, Product Liability, Product Recall, Product Guarantee, Financial Loss, Workmen/Employee Compensation, Public Liability, Professional Liability/Errors & Omissions, Kidnap Ransom & Extortion, Comprehensive Crime / Cyber Crime, Fidelity, IPO, Media Liability etc.
• Trade Credit Insurance (Export, Domestic)
• Project Insurance
• Event Insurance
• Package policies for various entities like Educations Institutions, Hotels, Commercial Organizations, Malls, Call centres, Jewellers, Stock Exchange members etc.
• Indian interest abroad
• All other covers against any unforeseen contingencies

Group Insurance

We arrange group insurance that gives benefits of customized coverage at competitive rates. It is an offering to employer-employee, various affinity groups like members of social/ cultural/ business/ professional/ residents association, borrowers, credit card holders etc.

• Group Term life insurance/EDLI offers coverage only on death and there is no maturity value in case the policy holder survives the insurance tenure.
• Group Health for hospitalization treatment with add-on cover for OPD
• Group Personal Accident Insurance
• Corporate Oversea Travel cover for health, accident and many add-on covers
• Gratuity Fund Management/Superannuation Scheme, Employee Benefit funds

Risk Management

We provide customized risk management programs to get indemnification for financial loss following an unforeseen disaster which include:

• Thorough study of the operations to identify, analyze and assess risk exposures
• Critical evaluation of existing insurance programme
• Auditing and advising on existing policies
• Risk Management Report to protect interest of Lenders/Financiers, Principal, Contractors
• Deliberation on appropriate covers
• Designing of cost-effective insurance solutions

Underwriting Management

• Preparation of Comprehensive Request for Quote (RFQ )
• Negotiation with insurers for best deal with focus on quality, price and Service Levels
• Quote Comparison Report (QCR) and recommendations for informed decision
• Assistance in deciding sum insured to avoid under-insurance
• Placement through professional slip with all beneficial clauses
• Examination of policies on receipt
• Regular meetings and MIS

Claim Management

We have in-house experts and extensive relationship with insurers to facilitate fair and expeditious claim settlement through

• Guidance to dealing staff and competent answers to their technical queries
• Briefing session for major clients about claim process for each class of insurance sharing knowledge on various applicable policy provisions, practices and their repercussions
• Examination of papers before submission to surveyor
• Drafting or vetting of correspondence
• Co-ordination with surveyor and insurer to get fair and expeditious settlement
• Joint meeting with insurers whenever needed
• Brain storming on contentious issues and grey area

We also undertake stand-alone claim consultancy assignment subject to monetary limit on claim amount and conditions prescribed by the Regulations.

MISP- Motor Insurance Service Provider

Be a part of an ever growing insurance sector and start selling more insurance by becoming an SMC Motor Insurance Service Provider (MISP). A 'motor insurance service provider' (MISP) is defined as an authorized automobile dealer appointed by the Insurer or an insurance intermediary to distribute and/or service only motor insurance policies sold under guidelines of IRDAI wide Ref No: IRDA/INT/GDL/MISP/202/08/2017 dated 31st August 2017. Be a part of an ever growing insurance sector and start selling more insurance by becoming an SMC Motor Insurance Service Provider (MISP). A 'motor insurance service provider' (MISP) is defined as an authorized automobile dealer appointed by the Insurer or an insurance intermediary to distribute and/or service only motor insurance policies sold under guidelines of IRDAI wide Ref No: IRDA/INT/GDL/MISP/202/08/2017 dated 31st August 2017.

Any authorized dealer or sub-dealer of an automobile manufacturer selling new or used automobile vehicles can be the MISP of SMC Insurance Brokers Pvt. Ltd. and nominate its Designated Person (DP) in order to ensure the compliance of the code of conduct prescribed under the MISP Guidelines. Automobile dealers can visit the website www.misp.smcinsurance.com to register as MISP of SMC Insurance Brokers Pvt. Ltd. After successfully completion of the registration process and post successfully submission of documents designated person(DP) who is required to be at least 12th standard passed and need to undergo a mandatory training program and online test to become the authorized designated person of MISP.

Most customers of new automobiles are willing to purchase motor insurance along with the vehicle itself and, often, have a fairly limited decision to make in terms of selecting and comparing the insurance product offered to them by their dealer. As a MISP of SMC Insurance, authorized dealers can offer a wide range of products of insurance companies to the satisfaction of the customers.

Additionally, SMCIB as a sponsoring entity is required to put in place systems for the day to day monitoring of all the MISPs engaged with them and is obligated to carry out a periodic review of controls, systems, procedures, and safeguards employed by the MISP.

SMC facilitates MISP in the following services -

All compliances for MISP as per IRDAI MISP guidelines Responsibility for training & registration of MISP Weekly reconciliation of policies issued & premium collected between MISP & insurer System for day to day monitoring of MISP & keep ready MIS reports for inspection by IRDA Complete support for compliance related requirements and assistance in business servicing IT coordination – policy & claims system

Online renewal customer assistance Initiatives to enhance claims transparency and innovating in claims settlement Periodic review of the controls, systems, procedures and safeguards put in place by the MISP, at least once a year Assisting dealer in maintaining records for 7 years Grievance handling mechanism to address policyholder grievance as per IRDA Protection of Policyholders Interest Regulations, 2017 The term "servicing of insurance business" has been defined to include receiving instructions from customers with respect to amendment, endorsement, modification, renewal, cancellation of motor insurance policies, and guiding and assisting customers on insurance claims.
+91-11-66222266
smc@smcinsurance.com