HDFC ERGO has been presented an award by ICAI for Excellence in Financial Reporting 2015- 16 under Category IV. It is the 2nd consecutive year, the 4th time in our journey, that we have been awarded for excellence in financial reporting. It is the only award presented in the non - life category this year.
This SKOCH order of merit is awarded to the “Top 100 Projects in India”. The projects are selected by a Jury of eminent experts and the Secretariat of SKOCH from a large number of nominations and presentations. HDFC ERGO’s Claim Survey Management, was conferred “SKOCH Order-of-Merit” at the 46th Skoch Summit.
This award recognises the efforts undertaken by an organisation in the area of customer service & customer experience to improve customer relationships and building long term profitability. The primary parameters considered for this award were; initiatives taken to simplify customer service processes, use of automation to deliver superior customer experience and ROI delivered through the changes.
The award jury comprised of eminent personalities from regulators & industry experts and was headed by Shri M. Damodaran, Former Chairman of Securities and Exchange Board of India (SEBI). The parameters for evaluation were on the basis of degree of compliance with accounting standards, statutory guidelines and other relevant pronouncements, in each category. Based on the rigorous evaluation process, out of 175 participants, 12 awards were given; and HDFC ERGO General Insurance Company Limited was the only one to receive the Gold Shield. We are proud to receive this Gold Shield again after FY 2012-13.
This award appreciates our efficient services and continued support with Chubb Multinational Solutions.It also embarks our outstanding service rendered to the mutual customers.The award recognizes exceptional performance in the following criteria:
1) Policy issurance and service levels
2) Duration of relationship with Chubb
3) Nomination by Chubb Multinational Account Coordinators
4) Recommendation of affiliate network managers
The Company has been rated iAAA by ICRA (an associate of Moody’s Investors Service) indicating highest claim paying ability. This rating denotes company’s fundamentally strong position and prospect of meeting policyholder obligations as the best. The rating takes into account the company’s strong parentage, its leadership position amongst the private sector general insurers in the country, balanced and diversified portfolio, prudent underwriting practice and reinsurance strategy.
HDFC ERGO has been awarded the ISO 9001:2015 certification for their processes relating to the below functions:
1) Risk & Loss Mitigation and Cost Management Dept.
This certification validates HDFC ERGO’s conformity with internationally established standards for quality systems and assurance in Risk & Loss Mitigation and Cost Management Function. The certification is a validation of the controls that have been built in place to ensure that the needs and expectations of customers are met. This certification ensures that the Company's products and services are the most compliant with the existing market standards and requirements.
The ISO certification for the above defined Risk & Loss Mitigation and Cost Management functions have been provided for the below defined scope:
Services related to Implementation of Risk and Loss Mitigation and Cost Management Strategy related Processes.
Processes covered under this certification include :
1) Investigation and Recoveries of referred claims supported by data analytics.
2) Implementation of Fraud management framework of the Company consisting of Anti-Fraud policy, Whistle blower policy and such related policies supported by analytical inputs.
3) Carry out due diligence and negotiations with external agencies to reduce cost.
HDFC ERGO has been awarded the ISO 9001:2008 certification for their processes relating to the below functions:
1) Operations & Services
2) Customer Experience Management
3) Claims Management
This certification validates HDFC ERGO’s conformity with internationally established standards for quality systems and assurance in Operations, Claim processing and Customer Service. The certification is a validation of the controls
that have been built in place to ensure that the needs and expectations of customers are met. This certification ensures that the Company's products and services are the most compliant with the existing market standards and requirements.
The ISO certification for the above defined functions have been provided for the below defined scope:
a) Customer Experience Management – Services related to Resolution of Customer Queries and Complaints through Call Centre and Related Processes
Processes covered under the CEM certification include:
1) Inbound call center & Email management
2) Quality & Training
3) Grievance Management
b) Claims – Providing Services Pertaining to Claims Lodged by our Customers for our General Insurance Products through In House Health Claims Services, Network of Surveyors, Third Party Administrators and other Agencies
Processes covered under the Claims certification include:
1) Motor OD & TP Claims management
2) Management of claims for Retail, Corporate, Travel, Fire Marine & Engineering
3) Health Claims Services
c) Operations & Services – Policy Issuance and Servicing of our General Insurance Products for Retail and Corporate clients and Facilities Management including Procurement and Administration
Processes covered under the O&S certification include:
1) All central O&S operations, including policy & endorsement issuance for Retail, Corporate, Bancassurance, Rural Line Operations 2) Logistics Control Unit
3) Branch Operations function including inwarding, premium cheque management, walk-in customer management, cover note management, policy / endorsement issuance
4) Banking Operations
5) Admin & Procurement including facilities management and branch administration
The locations covered under the certification included the below:
1) Corporate Office, Mumbai
2) Local branches
a) Lower Parel, Mumbai
b) Borivali, Mumbai
c) Chennai, Mylapore
d) Chennai, Tynampet
f) Connaught Place, New Delhi
g) Nehru Place, New Delhi
The ISO certification has been provided considering the internal processes of the organization are in line with the standards required to provide customer satisfaction. It is also an acknowledgement of the standardization and uniformity of processes being followed across all branches & locations.
This award underlines the best-of-the-best practices of the BFSI Industry based on the strategy, security, customer service, and the future technology challenges and innovations.The award has been selected basis customer poll and analysis by a bench of jury.
The event was organized by The Excellence in Global Economy (4th Edition), Hongkong on 28th Feb'14. This award was based on an independent survey and was analyzed considering the Leadership, Innovative Services & ability to be responsive to the customers' needs with a dynamic approach & a variety of products.
HDFC ERGO has been awarded Gold Shield ICAI Awards for Excellence in Financial Reporting for the year 2012-13 under the Category III – Insurance Sector by Institute of Chartered Accountants of India (ICAI). The award has been selected by the panel of judges on the basis of degree of compliance with the Accounting Standards, Statutory Guidelines and other relevant pronouncements. Mr. T. S. Vijayan, Chairman, IRDA was the Chairman of the Jury committee for the award.
These awards are hosted by Employer Branding Institute, World HRD Congress & stars of the Industry Group. CMO Asia has been a strategic partner & the awards are endorsed by Asian Confederation of Businesses. These awards are presented to Individuals and Organizations who have surpasses levels of excellence and set an example of being a Role Model & Exemplary Leader. The objective at core is benchmarking talent & HR practices.
The event was organized by The Excellence in Global Economy (3rd Edition), Hongkong on 22nd Feb'13. This award was based on an independent survey and was analyzed considering the Leadership, Innovative Services & ability to be responsive to the customers' needs with a dynamic approach & a variety of products.
This award is presented to those who have surpassed levels of excellence and set an example of being a Role Model & Exemplary Leader in Human Resources. The objective at core is benchmarking talent & HR practices.
HDFC ERGO is declared as a winner under "Best Investor Education & Category Enhancement – Insurance" category by UTV Bloomberg - Financial Leadership Awards 2012. The shortlisting for award in this category was decided based on new innovative products offered to the policyholders, initiatives taken on educating the existing and prospective policyholder, ease of navigation on the website, efficient claim support, complaint resolution rate and the number of complaints received in relation to the market share of the company. The final call on the winner has been taken by the external Jury. It is a single award across life and general insurance companies.
The event was organized by The Excellence in Global Economy (4th Edition), Hongkong on 22nd Nov’13. This award was based on an independent survey and was analyzed considering the parameters like Sustainability, Business Results, Strategic Development, High Quality of Services & Leadership.
The award has been given on the basis of degree of compliance with the accounting standards, statutory guidelines and other relevant pronouncements. The panel of judges had reviewed the accounting practices adopted by the participating enterprises in the preparation of financial statements and the policies adopted for disclosure and presentation of financial statements and other information in the annual reports without regard to their financial condition and operating performance.