Reliance Nippon Life Insurance Company is amongst the leading private sector life insurance companies in India in terms of individual weighted received premium and new business premium. It is a joint venture between Reliance Capital, a leading private sector financial service provider and Nippon Life Assurance, a leading life insurance company in Japan.
|COMPANY TYPE||Private Ltd|
|Managing Director & CEO||Shri. Ashish Vohra|
|Foreign Partner||Nippon Life Assurance Co., Inc, the leading life insurance company in Japan – 49% Reliance Capital, a leading private sector financial services and non-banking company – 51%|
|Covering range of People||10 million+ people covered|
|Contact Details||Toll-free : 1800 102 1010 Telephone: (+91) 022 4882 7000 – For outside India For Claim : 1800 102 3330 Website : www.reliancenipponlife.com Mail : firstname.lastname@example.org|
|Latest Claim Settlement Ratio||98.1% (FY 2019-20)|
|Total Premium||Rs. 4,375 Crore as on 31st March 2020|
|Asset Under Management||Rs. 19,837 Crore as on March 31st 2020|
|Solvency Ratio||184% as on 31st MAR 2020|
|Total Sum Assured||Rs. 75,290 Crore as on 31st March 2020|
|Vision||To be a company people are proud of, trust in and grow with, providing financial independence to every life we touch|
|Year of start||2001|
|IRDAI registration No||121|
|No of Advisors||63,016, a large team of motivated advisors|
|Corporate Office||Reliance Nippon Life Insurance Company Limited Reliance center, 5th Floor, Off. Western Express Highway, Santacruz (East), Mumbai – 400055.|
1) Reliance Nippon Life Digi-Term Insurance Plan
2) Reliance Nippon Life Super Money Back Plan
3) Reliance Nippon Life Blue-chip Savings Insurance Plan
4) Reliance Nippon Life Smart Plan
5) Reliance Nippon Premier Wealth Insurance Plan
|Awards & Recognitions||
1) Silver in Best Mobile App category by India Digital Marketing Awards 2020.
2) Innovation award for “Building Exception Reports using Audit Analytics” on Feb 2020
3) Corporate Social Responsibility of the year 2020
4) Digital Transformation Award 2020 in Insurance Sector
5) ET BFSI Excellence Award 2019
|Social Media Links||
Twitter : twitter.com/relnipponlife
Facebook : facebook.com/RelianceNipponLifeInsurance
OPERATIONS OF RELIANCE NIPPON LIFE
The company is one of the largest non-banking support private insurers with over 10 million policy holders, a string distribution network of 717 branches and 63,016 advisors as on March 2020. The company holds claim settlement ratio of 98.1% as on March 31,2020.
Reliance Nippon Life Insurance company is a part of Reliance Capital, a private sector financial services and non-banking company.
The insurance company is a joint venture between Reliance Capital and Nippon Life, the leading life insurance company on Japan. Reliance capital holds 51% of stakes and Nippon Life holds remaining 49% of stakes.
VISION OF RELIANCE NIPPON LIFE
Reliance Nippon Life Insurance is rated amongst Top 3 Most Trusted Life Insurance Service Brands by Brand Equity’s Most Trusted Brands Survey 2018, the company’s vision is “To be a proud of, trust in and grow with; providing financial independence to every life we touch”.
With this in mind, Reliance Nippon Life caters to five distinct segments, namely Protection, Child, Retirement, Saving & Investment and Health; for individuals as well as Groups/Corporate entities.
Reliance capital is a part of Reliance Group, a constituent of MSCI Global Small Cap Index. It is amongst India’s leading and most valuable financial services companies in the private sector.
Reliance Capital has interests in life, general and health insurance; commercial and home finance; equities and commodities broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.
VARIOUS S OF RELIANCE GROUP
Reliance Group was founded by the late Shri Dhirubhai Ambani (1932-2002), the Reliance Group has a leading presence across telecommunications, power, financial services, infrastructure, media and entertainment and health care. The group strongly believes that it has a pivotal role to play in shaping the density of our great nation. Through its various consumer-facing business, the Group provides a robust platform to every Indian to realize his/her potential through its state-of-art products and services.
OPERATIONS OF RELIANCE GROUP
Through different companies, the group positively influences the lives of over 250 million customers (i.e) 1 in every 5 aspiring Indians across more than 25,000 cities and towns and 400,000 villages.
The Group enjoys the unparalleled trust, faith and confidence of its customers, and is one of the largest employers in the country with a young, high-trained and motivated workforce, with an average age of 35 years.
The Group is proud to have a family of over 7 million shareholders the largest in the world. It has created the assets of over Rs. 3,50,000 crores since its inception.
NIPPON LIFE INSURANCE
Nippon Life Insurance (also known as Nissay or Nihon Seimei) is the largest Japanese Life Insurance company by revenue. The company was founded in 1889, when the company was founded, a premium table based on unique Japanese mortality statistics was created.
At the same time, Nippon Life become the first Japanese life insurer to decide to offer profit dividends to policyholders in 1898, which embodied the spirit of mutual aid.
It primarily operates in Japan, North America, Europe and Asia, and its headquartered in Osake, Japan. NLI conducts asset management operations in Asia, through its subsidiary Nissay Asset Management Corporation (Nissay), which manages assets globally.
OPERATIONS OF NIPPON LIFE
After world war ll, the company was reborn as Nippon Life Insurance company in 1947 and continues to work ize mutual aid and cooperative prosperity as a mutual company.
The company strive to provide customers with enhances services. Currently, Nippon Life, as one of Japan’s largest private life insurer, has a revenue of US$ 710.0 Billion and profit of US$ 54.6 Billion as of March 2019.
The company with over 34 million policies in Japan, offers a wide range of products, including individual and group life and annuity policies through various distribution channels and mainly uses face-to-face sales channel for its traditional insurance products. It is ranked 125th among the Global Fortune 500 firms in 2019.
SERVICES OF RELIANCE NIPPON LIFE
Due to this Covid-19 pandemic, Reliance Nippon Life Insurance assures their clients about to provide claims for the corona death as per the guidelines of the Indian Govt. The company encourages their clients to use digital platform for availing the services of them like premium payment, claim requests, new policy and any other services.
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