Zurich Kotak (formerly known as Kotak Mahindra) General Insurance Overview

Zurich Kotak (formerly known as Kotak Mahindra) General Insurance company Limited has its presence with 13 branches spreading in India, with a workforce of 354 professionals, as of 2017. As a practice, the company seeks to provide a distinguished value proposition through customized products & services leveraging state of the art technology & digital infrastructure.

Awards & Recognitions

Zurich Kotak (formerly known as Kotak Mahindra) Group has been recognized with many awards and recognition at domestic as well as international platform. Their innovation and excellence are paid off in many ways.

• Best Private Bank, India by Euromoney Private Banking Survey, 2018
• Leading Asian Private Banker's AUM league table of top 20 private banks in India
• Lifetime Achievement Award' at Financial Express' Best Banks' Awards 2015-16
• Business Leader at the Lakshmipat Singhania IIM Lucknow National Leadership Awards 2017
• Uday Kotak recognised as 'Banker of the Year' by Businessworld Magna Awards 2018
• Best Mid-Sized Bank at Business Today Best Banks Awards 2018

Zurich Kotak (formerly known as Kotak Mahindra) General Insurance Facts

• Founded in the year 2015
• 100% subsidiary of Zurich Kotak (formerly known as Kotak Mahindra) Group
• Headquarter is in Mumbai
• MD&CEO is Mahesh Balasubramanian
• The parent organisation is Zurich Kotak (formerly known as Kotak Mahindra) Bank
• The company received IRDAI approval to start insurance business in the year 2015

Zurich Kotak (formerly known as Kotak Mahindra) General Insurance Vision and Values

Living up to their pledge of trust and respect, Zurich Kotak General Insurance tries sticking to their values:

• Down to earth and approachable
• Passion to achieve new heights
• Mutual respect and transparency
• Entrepreneurial approach
• Ethical with a governance mindset

Products and Services

Zurich Kotak General Insurance offers a range of non-life insurance products such as motor insurance, health, insurance for commercial vehicles, group health insurance etc. let’s have a brief look at the products:

• Zurich Kotak Motor Insurance: Motor insurance for both two and four wheelers by Zurich Kotak General insurance is worth your investment. Given the poor road conditions and traffic indiscipline, accidents have become a frequent occurrence. By insuring your vehicle against those eventualities, you can save a huge chunk of money. Zurich Kotak General insurance offers cashless services at their network garages, where the insured can avail the services without paying single Moreover, if they avail the services from their preferred garages which are not included in the insurer’s list of network garage, the reimbursement of the expenses is ensured easily. With Zurich Kotak car insurance or two wheeler insurance, you can feel safe anytime you hit the road.
• Zurich Kotak Health Insurance: The rapid rise in the medical treatment cost has become a matter of concern these days. With this, even a single hospitalization for a minor injury or illness can lead to huge financial stress for the person with no health insurance. Considering this, health insurance is one of the major offerings under Zurich Kotak General insurance. Life is full of uncertainties where you can catch with an illness so easily. At times the treatment expenses are beyond your imagination. In such a case, with Zurich Kotak health insurance, you can ensure enough to be covered during a medical emergency.
• Zurich Kotak Group Health Insurance: Group policy under Zurich Kotak General insurance is designed for various organisations to deal with the risk associated with their employee's health which covers the medical expenses incurred towards a hospitalisation.  This policy is offered as a perk to retain talent. The coverage also extended towards personal accident covering disability and death out of an accident.
• Other Insurance offered under Zurich Kotak General Insurance Zurich Kotak general insurance company limited also offers Third Party Liability Only Policy to cover the legal liabilities arising out of an accidental injury, property damage, disability or death of a third party, where the insured vehicle is at fault.

Zurich Kotak General Insurance Plans

The products offered by Zurich Kotak General Insurance come with a variety of insurance plans to cater to the different needs of people. Some of them can be categorized like below:

Zurich Kotak Motor Insurance Plans

Motor insurance offered by Zurich Kotak General Insurance is extended to Cars, Two Wheelers, Personal Accident and Commercial Vehicles. The various types of motor insurance plans of Zurich Kotak General Insurance include:

1. Zurich Kotak Car Insurance

The car insurance offered by Zurich Kotak General insurance is tailor-made for offering optimum protection to the vehicle. The coverage offered by this policy is of two types:

• Third party liability coverage
• Comprehensive cover, where own damage cover is included.

While third-party insurance only covers the legal liabilities arising towards a third party, the comprehensive cover includes both third party and damages to the insured vehicle or owner. The basic features of this policy include:

• Coverage for the damages caused by man-made and natural calamities
• Personal accident and passenger cover
• No Claim Bonus
• Third party liability
• Enhanced protection through optional add-ons
• Cashless service at network garage

2. Zurich Kotak Two Wheeler Insurance

Zurich Kotak two wheeler insurance ensures your joyrides never end. When you get the freedom to traverse distances, the risk factor shouldn’t be ignored. With Zurich Kotak two wheeler insurance you can be covered for third party liability as well as the loss caused to the bike due to natural calamities such as fire, explosion, earthquake self-ignition, lightning, , flood, hurricane, typhoon, storm, tempest, cyclone,  inundation, landslide,hailstorm, frost, rockslide, etc. It also covers man-made disasters that can cause damage to your bike such as strike, riot, burglary, malicious act, terrorist activity etc. the basic features of this policy are:

• Offers comprehensive and third party liability coverage
• Coverage to damages caused to the vehicle
• Man-made and natural damage cover
• Fast renewal of the policy
• Hassle-free claim settlement
• Long-term policy benefits

3. Personal Accident Cover for Owner Driver

This policy covers you for the accidental loss up to Rs. 15 lakh, while driving, mounting or demounting by the insured vehicle. Zurich Kotak General insurance offers optional personal accident cover for co-passengers as well.

4. Zurich Kotak Commercial Vehicle Insurance

As commercial vehicles are an important asset to a business, breakdown of which can cost dearly to the owner. Considering the risk associated with these commercial vehicles, Zurich Kotak General insurance offers a range of commercial vehicles insurance plans to mitigate the financial burden in case of damage or loss. The commercial insurance offered by Zurich Kotak General Insurance is of following types:

• Passenger Carrying Vehicle Insurance
• Miscellaneous Vehicle Insurance
• Passenger Carrying Vehicle Insurance
• Goods Carrying Vehicle Insurance

Commercial vehicle insurance plans provides coverage to natural and man-made calamities, third-party legal liabilities, coverage to electrical and non-electric accessories, No Claim Bonus, cashless services at network garages etc. 

Zurich Kotak (formerly known as Kotak Mahindra) Health Insurance Plans

Zurich Kotak health insurance plans are designed to meet the insurance requirements of different people. Most of these plans cover the insured for pre and post hospitalisation while some also come with a maternity benefit. Hospital cash benefit, convalescence benefit, daily cash, home nursing facility, compassionate visit, air ambulance cover etc. are some of the attractive features of Zurich Kotak health insurance.  The different types of health insurance offered by Zurich Kotak General insurance are:

• Kotak Secure Shield: It is a popular critical illness plan that helps you stay financially protected in the hour of need. The policy ensures a lump sum amount at the time of diagnosis of the illness. The amount can be used either for treatment or repay the other dues.
• Kotak health Care: It is a comprehensive health insurance plan that ensures quality healthcare in case of hospitalization. Health is wealth and Zurich Kotak General insurance has proved this in a right away by ensuring the safety of your health.
• Kotak Accident Care: This policy covers the insured and its family against any eventuality arising out of an accident. A wide range of policy coverage to choose from where one can be assured for personal accident.
• Kotak Health Super Top-up: This is a top-up plan with higher health coverage to ensure full protection.
• Kotak Health Premium: This policy comes with multiple benefits such as protection plus rewards and values added

Zurich Kotak (formerly known as Kotak Mahindra) Group Health Insurance

Zurich Kotak (formerly known as Kotak Mahindra) General Insurance also extends its insurance coverage to employer-employee groups and non-employer-employee groups such as educational institutes, credit societies, travel companies, banks etc. Given the potential risk they are exposed to, the employer owns this policy for the employers.  Group health insurance offered by Zurich Kotak (formerly known as Kotak Mahindra) General insurance cover the accidental and health-related expenses incurred by the employee. The premium of this policy is decided by the employer and based on the size of the group and coverage opted.

Here's a quick look at various group policies offered by Zurich Kotak (formerly known as Kotak Mahindra) General Insurance

• Kotak Group Accident Care: This policy covers the insured for accidental injury or death. It comes in handy to cover the expenses for treating an accidental disability, permanent partial disability, temporary disability, burn, broken bones etc.
• Kotak Group Health Care: This policy is famous for providing customized health insurance by covering the employee or group members for healthcare expenses. The coverage is also extended to dependents as well.  The rising medical cost is a concern for everyone. In that case, if your employer covers you for the hospitalization expenses, nothing can be more exciting than this. This way the employer can retain the talents as well. This policy covers the insured for inpatient expenses, pre-hospitalisation, domiciliary hospitalization, emergency ambulance cost, day care treatment, post hospitalization expenses etc. the additional benefit offered by this policy include alternative treatment, daily cash allowance, convalescence, home nursing benefit etc.
• Kotak Group Secure Shield: This policy is designed to cover certain specific illness, in other words, the lifestyle diseases which can pose a threat to your life. A lump sum amount is released at the time of detection of the illness. This policy can be bought by banks or financial institutions to cover the loan liability of the customers. In case the loan holder detects with a critical illness or death due to the illness, the policy will bear the loan liability. It usually covers the insured for critical illness, accidental disability of different types like permanent total disability, educational benefit, loss of job etc.
• Kotak Group Accident Protect: this is a comprehensive policy take to cover every member of an organisation against the unforeseen risks due to accident leading to injury or death. It safeguards the interest of the insured in case such a situation arises. The policy coverage extends towards accidental death and disability like partial disability, permanent total disability, accidental hospitalisation, compassionate visit, repair of the vehicle involved in the accident etc.
• Kotak Group Hospital Cash: this policy provides a fixed amount on a daily basis up to a certain period, irrespective of the expenses incurred towards hospitalisation. This policy comes in handy to cover those medical and non-medical expenses that are not covered by a regular health insurance policy. It covers hospital daily cash benefit, ICU daily cash benefit, accident daily cash, day care procedure, surgery benefit etc.
• Kotak Group Smart Cash: similar to group hospital cash, this policy also provides a fixed amount towards each day of hospitalisation. It covers incidental and ancillary expenses including alternative treatment cover, worldwide cover, hospital daily benefit, accidental daily cash, ICU daily cash etc.

Zurich Kotak (formerly known as Kotak Mahindra) Other Insurance Plans

Apart from the mainstream insurance products, Zurich Kotak General Insurance also offers Third Party Liability Only Policy, which is designed to benefit the third party in case of a crash.

Features:

• Covers death of the third party due to the accident
• Bodily injury to a third party
• Third party property damage
• Personal Accident Cover to owner drive

The types of Zurich Kotak Third Party Liability Insurance Includes:

Zurich Kotak General Insurance provides several types of Third Party Liability Insurance policy. Take a look at the various Zurich Kotak Third Party Liability Insurance policies:

• Liability to Third Party Policy - This policy covers the insured against any third party liabilities that may arise for causing accidental bodily injury or death of another person or damage to a third party property.
• Liability Only - Private Car Policy - This Liability Only policy protects the insured from any third party liabilities arising for causing bodily injury or death of another person or damage to a third party property by the insured car.
• Liability Only - Two Wheeler Policy - This policy offers the insured protection against any third party liabilities that may arise for causing accidental damage to a third party property or bodily injury or death of another person by the insured two-wheeler.
• Liability Only - Misc D Policy - This Liability Only policy covers the insured commercial vehicle plying on roads against any third party liabilities arising due to causing accidental bodily injury or death of another person or damage to a third party person.
• Liability Only - PCV Policy - This policy covers the insured PCV or Passenger Carrying Vehicles against any third party liabilities that may arise for causing accidental damage to a third party property or bodily injury or death of another person.
• Liability Only - GCV Policy - This Liability Only policy covers the insured GCV or Goods Carrying Vehicles against any third party liabilities arising for causing accidental bodily injury or death of another person or damage to a third party person.
• Liability Only - New Private Car Policy - This is a long-term third party policy that protects the insured for a period of three years if his new car causes any accidental damage to a third party property or bodily injury or death of another person leading to third party liabilities.
• Liability Only - New Two Wheeler Policy - This is a long-term policy that covers the insured if his new two-wheeler causes any damages to a third party property or bodily injury or death of another person for a period of five years.

Zurich Kotak (formerly known as Kotak Mahindra) General Insurance Renewal

In order to ensure availing the insurance benefits uninterruptedly, it is essential to renew the policy before the due date expires.

Renewing Zurich Kotak (formerly known as Kotak Mahindra) Car Insurance Renewal

When it comes to staying charged with seamless car insurance protection, timely renewal is highly appreciated. You can ensure a hassle-free car insurance renewal with Zurich Kotak General Insurance Company Limited. The insurer offers online renewal which ensures instant renewal of car insurance. Just visit the official website of the insurer, mention the policy number or customer ID and make the payment after your ID is verified. Thus, ensure an instant car insurance renewal with Zurich Kotak General Insurance.

Renewing Zurich Kotak (formerly known as Kotak Mahindra) Health Insurance

It is imperative to keep your health insurance active to make the most out of Zurich Kotak health insurance. Moreover, you can also enjoy a cumulative bonus of 10%, at the time of renewal as long as the policy is not claimed. The cumulative bonus can be earned up to a maximum of 50% by remaining stringent about not claiming it. So, renewing your policy is equally important as buying health insurance. Like car insurance, you can renew the policy online by providing the policy details and other relevant information and making an online payment of premium.

Zurich Kotak (formerly known as Kotak Mahindra) General Insurance Claim Process

When it comes to claiming your insurance, Zurich Kotak (formerly known as Kotak Mahindra) General Insurance follow a transparent claim process. It’s not just about the money involved but helping the person out from the loss. They also ensure that the process and lengthy paperwork don’t come in the way of a smooth claim settlement.

Car Insurance Claim

A car insurance claim can be initiated in two ways-cashless and reimbursement claim. In case of a cashless claim, the settlement of expenses incurred for the repair or replacement is done directly with the workshop. This benefit can be availed at a network garage only.

On the other hand, if the insured avail the repair work from his/her preferred garage which is not listed in the network garage list, the payment has to be done by the insured initially, where a request for reimbursement should be submitted to claim the expenses.

In both cases, the simple claim process includes:

Intimate the Insurer

It is the initial stage of claiming your insurance. You should immediately inform the insurer in case of an accident and register the claim. It is essential the inform the insurer in order to avail cashless benefits. If the cashless claim is not possible, repair the vehicle from outside and file a reimbursement claim. The sooner you register a claim, the sooner the claim will be settled and the vehicle will be repaired.

Submit the Claim Form

Submit the claim form explaining the incident along with the other necessary documents such as:

• Registration Certificate
• Car insurance policy
• Driving license of the person driving the vehicle
• Valid ID proof

Send the Vehicle for Inspection

Within 24 hours of claim request, a vehicle inspection will be done by a surveyor. The surveyor will access the damages and estimate the loss.

Claim Settlement

Based on the report of the surveyor, the claim will be settled accordingly. The surveyor may inspect the vehicle again once it is repaired. You can take the delivery of the vehicle after making the payable share and deductible if any and by signing the customer satisfaction voucher. In case of reimbursement claim, upon submission of original repair bills along with a claim form and documents, the insurer will reimburse the claimed amount.

Health Insurance Claim

Health insurance claim with Zurich Kotak (formerly known as Kotak Mahindra) General Insurance can be ensured for planned and emergency hospitalisation, where you can register for either cashless or reimbursement claim.

Planned Hospitalisation

 When it is a planned hospitalisation just

• Visit the cashless helpdesk of the insurer 48 hours prior to the hospitalisation.
• You’ll need to fill a pre-authorisation form and submit along with a valid ID.
• If the insurer approves the request, avail the treatment free of cost by being admitted on the scheduled date.

Emergency Hospitalisation

In case of an emergency hospitalization-

• Intimate the insurer within 24 hours of hospitalisation and approach the helpdesk or TPA in the hospital.
• Fill a pre-authorisation form and submit along with the ID proof
• In case the request is approved by the insurer, the incurred expenses are directly settled with the hospital authority.
• The inadmissible expenses and deductible have to be paid at the time discharge.
• In case of reimbursement case, the hospital expenses are to be paid by you initially and register a reimbursement claim later.

Premium Payment process

Similarly, as you can buy Zurich Kotak (formerly known as Kotak Mahindra) General Insurance online or offline, you can also make the premiums online as well. At the time of renewal, simply visit the official website of the insurer and pay the premiums by using Credit/Debit Card or Net banking. The insurer keeps your information confidential so the online transaction is purely safe.

Zurich Kotak (formerly known as Kotak Mahindra) General Insurance FAQs