SBI General Insurance stands as a major force in India’s non-life insurance industry. A joint venture between State Bank of India and other stakeholders, it represents trust, reliability, and comprehensive risk coverage. It caters to individual customers, businesses, and SMEs with an extensive array of insurance products.
The company plays a crucial role in India’s financial landscape by offering protection solutions tailored to a growing and diverse population. Its presence, especially in tier-II and tier-III cities, bridges the gap between the need for security and accessible insurance.
With over a decade of experience and a growing portfolio of innovative policies, SBI General Insurance is regarded as one of the fastest-growing general insurance companies in India. Its offerings range from health and motor to cyber and corporate-specific products, placing it firmly among industry leaders.
Company Background
SBI General Insurance was established in 2009 as a joint venture between the State Bank of India and Insurance Australia Group (IAG). In 2020, IAG exited its stake, and new shareholders including Premji Invest and Warburg Pincus entered.
In just over a decade, SBI General has expanded to over 137 branches across India, with more than 26,000 IRDAI-certified agents. It has underwritten gross written premiums (GWP) exceeding ₹10,000 crore.
Key Milestones:
- Achieved operational break-even within the first few years
- Crossed ₹1,000 crore GWP in less than four years
- Registered consistent profitability and strong solvency ratios
- Pioneered digitally-enabled insurance distribution channels
Mission and Vision:
SBI General’s mission is to provide simple, affordable, and innovative insurance solutions, ensuring every Indian has access to protection. Its vision is to be the most trusted general insurer, known for customer-centricity and excellence in service.
Why Choose SBI General Insurance?
1. Backed by the SBI Legacy:
Being promoted by the State Bank of India adds a layer of reliability and nationwide accessibility. Customers associate SBI with integrity, and SBI General upholds this trust in the insurance space.
2. Pan-India Presence:
SBI General has built an expansive network of branches and digital touchpoints. Whether you are in a metro or a remote town, SBI General ensures you’re never far from expert insurance help.
3. Wide Product Range:
From health and motor to travel, cyber, and niche corporate products, SBI General’s portfolio is comprehensive. Businesses and individuals alike can find plans customised to their needs.
4. Robust Claims Infrastructure:
With one of the best claims settlement ratios in the industry, SBI General ensures swift and transparent processing. Its technology-driven system reduces friction in filing and tracking claims.
5. Affordable Premiums:
SBI General’s plans are designed to offer wide-ranging cover without costing a fortune. Their pricing appeals to a large segment of the middle-class and SME market.
6. Digital Integration:
SBI General has embraced tech advancements through its user-friendly website, mobile app, AI-powered chatbots, and e-claims. This makes policy buying and claims processing seamless.
7. Inclusive Insurance:
With special products aimed at farmers, rural entrepreneurs, and the working class, SBI General aims to make insurance inclusive and socially beneficial.
8. Strategic Partnerships:
It partners with banks, NBFCs, and digital platforms to enhance reach and deliver superior customer service across sectors.
Product Portfolio Overview
a) Health Insurance
SBI General offers a range of health insurance plans designed to cover medical expenses for individuals, families, and senior citizens.
Popular Plans:
- Arogya Supreme: Offers comprehensive coverage including maternity and AYUSH treatments.
- Retail Health Insurance Policy: Tailored for individuals and families with hospitalisation and domiciliary cover.
- Critical Illness Insurance: Provides lump-sum payouts on diagnosis of major illnesses.
What is Covered:
- Hospitalisation expenses (pre and post)
- Daycare procedures
- Ambulance charges
- AYUSH treatment
- Maternity benefits (in select plans)
What is Not Covered:
- Cosmetic surgeries
- Pre-existing diseases (initial waiting period applies)
- Self-inflicted injuries
- War or nuclear events
- HIV/AIDS treatments
b) Car Insurance
SBI General’s motor insurance protects private and commercial vehicles from damages, theft, and third-party liabilities.
Popular Plans:
- Private Car Insurance Policy: Covers own damage and third-party liability.
- Long-Term Two-Wheeler Package: Multi-year cover for bikes with attractive premiums.
- Motor Act Only Policy: Third-party cover as per Motor Vehicles Act.
What is Covered:
- Accidental damage
- Theft or loss of vehicle
- Third-party liabilities
- Natural calamities
- Fire and explosion
What is Not Covered:
- Driving without licence
- Mechanical or electrical breakdown
- Influence of alcohol or drugs
- War or nuclear risk
- Consequential loss
c) Home Insurance
Protects your home structure and contents against a variety of risks including fire, burglary, and natural disasters.
Popular Plans:
- Long-Term Home Insurance Policy: Up to 10 years of cover for structure.
- Householders’ Insurance: Covers structure, contents, jewellery, and liabilities.
What is Covered:
- Fire and allied perils
- Theft and burglary
- Earthquake and flood
- Loss of rent
- Alternative accommodation
What is Not Covered:
- Damage due to war
- Wilful destruction
- Negligence by the insured
- Wear and tear
- Commercial use of property
d) Cyber Insurance
SBI General offers specialised insurance solutions to protect individuals and businesses from cyber threats.
Popular Plans:
- Cyber VaultEdge Insurance for Individuals
- Workmen’s Compensation Policy
- Directors and Officers (D&O) Liability Insurance
What is Covered:
- Data breaches and ransomware
- Legal expenses and liabilities
- Employee compensation liabilities
- Identity theft resolution
- Online fraud and financial loss
What is Not Covered:
- Intentional acts
- Pre-existing cyber incidents
- Third-party criminal liability
- Acts of war
- Lack of security protocols
e) Travel Insurance
These plans cover medical emergencies, baggage loss, and trip delays during domestic and international travel.
Popular Plans:
- Overseas Travel Insurance
- Domestic Travel Insurance
- Student Travel Insurance
What is Covered:
- Emergency medical costs
- Trip cancellation/delay
- Loss of baggage
- Personal accident
- Passport loss
What is Not Covered:
- Travel without medical approval
- Participation in adventure sports
- Drug/alcohol influence
- War or terrorism
- Pre-existing ailments
f) Corporate Burglary Insurance
Secures businesses against loss due to theft or break-ins.
Popular Plans:
- Burglary Insurance Policy (Commercial Establishments)
- Cash in Transit Cover
What is Covered:
- Theft and burglary
- Damage during break-in
- Cash theft (optional)
- Fixtures and equipment loss
- Premises repair costs
What is Not Covered:
- Inside jobs (employee theft)
- War damage
- Acts of God (natural calamities)
- Unforced entry cases
- Negligence of staff
g) Corporate Money Insurance
Designed for firms handling large volumes of cash, this plan secures against monetary loss in transit and at premises.
Popular Plans:
- Money Insurance (Transit & Safe)
- ATM Cash Cover
What is Covered:
- Cash in transit
- Cash stored in lockers/safes
- Robbery and dacoity
- Transit under employee supervision
- Currency loss during business hours
What is Not Covered:
- Employee theft
- Deliberate exposure to risk
- Inadequate security
- Counterfeit notes
- Natural disaster-related losses
Claims Process
SBI General has simplified its claims procedure using digital systems and dedicated assistance teams.
Step-by-Step Claims Process:
- Intimate the claim through the helpline or website.
- Submit relevant documents (policy, ID, FIR, etc.)
- Receive claim registration number.
- The surveyor assesses damage (where applicable).
- Claim is processed and settled upon verification.
Renewal Process
Policy renewals are streamlined via digital platforms, eliminating paperwork and delays.
Step-by-Step Renewal Process:
- Visit the official SBI General website.
- Enter policy number or registered mobile/email.
- View renewal quote and customise coverage.
- Pay premium online.
- Receive confirmation and renewed policy instantly.
Distribution Network
Community Engagement:
SBI General regularly organises financial literacy camps in rural and semi-urban regions to educate people about insurance.
Green Insurance and ESG:
The company is committed to environmental responsibility, investing in green operations and sustainable underwriting practices.
Health and Wellness:
It partners with hospitals and wellness providers to promote preventive healthcare and fitness among policyholders.
Awards and Recognitions
Accolades:
- Best General Insurance Company – BFSI Awards
- Excellence in Customer Service – ASSOCHAM
- Digital Transformation Award – FinTech Forum
Certifications:
- ISO 9001:2015 certified for customer service quality
- IRDAI-accredited as a compliant and financially sound insurer
Final Thoughts:
SBI General Insurance brings a rare combination of trust, product diversity, customer service, and innovation. Its strong backing by the State Bank of India, coupled with consistent service delivery, positions it as a top-tier player in India’s insurance ecosystem.
Whether you are a salaried individual, an SME owner, or a corporate decision-maker, SBI General has a policy to suit your needs. With its continued investment in digital transformation and social impact, the future looks even brighter for this insurance leader.
Choose SBI General Insurance—where security meets simplicity, and trust drives everything.
