Cholamandalam MS General Insurance

Cholamandalam MS General Insurance Company Ltd., commonly known as Chola MS, is one of India’s leading general insurers. It is the result of a powerful collaboration between the Murugappa Group, one of India’s oldest and most respected conglomerates, and Mitsui Sumitomo Insurance Company, part of the MS&AD Insurance Group from Japan. This joint venture merges Indian business intuition with global risk management practices.

In an environment where cyber risks, health uncertainties, road accidents, and climate-induced damages are increasingly common, general insurance plays a vital role in protecting individuals and businesses. Chola MS has become a significant player by offering policies that aren’t just affordable but also relevant, especially for India’s growing middle class and MSME sector. Their ability to serve both metros and rural markets gives them a strategic advantage.

Chola MS offers a diverse product portfolio—including motor, health, home, travel, accident, and commercial vehicle insurance. With over 135 branches and a deep digital infrastructure, it has built a reputation for quick policy issuance, fast claims settlement, and strong after-sales support. Its customer-first approach and innovative risk solutions have made it a trusted name among individuals and corporates alike.

Company Background

Founded in 2001, Cholamandalam MS is rooted in two powerful legacies. The Murugappa Group, with its foundation in 1900, brings deep market understanding, financial prudence, and ethical governance. Mitsui Sumitomo, with expertise in global underwriting, brings international best practices in insurance, reinsurance, and claims management. This dual foundation creates a company that’s both local in approach and global in standards.

Timeline of Growth and Evolution in India

• 2001–2005: Product launches in motor and accident insurance; establishment of agent network.
• 2006–2010: Expanded into rural and semi-urban markets; partnered with leading banks for bancassurance.
• 2011–2015: Adopted digital tools for customer onboarding and claims processing.
• 2016–2020: Introduced mobile apps, AI-driven claim tracking, and improved grievance redressal.
• 2021–Present: Focus on ESG compliance, telematics, and wellness-linked insurance products.

Key Milestones and Business Highlights

• Over ₹4,500 crore Gross Written Premium (GWP) annually
• Partnered with over 9,000 agents, brokers, and digital platforms
• Expanded coverage to over 100 million lives
• Integrated mobile-first features for health and motor customers
• Built partnerships with 6,000+ garages and 9,000+ hospitals

Mission: To consistently deliver world-class risk solutions that empower customers to lead worry-free lives.
Vision: To be the most admired general insurance company in India for service, simplicity, and stakeholder value.

Why Choose Cholamandalam MS General Insurance?

1. Dual Heritage of Trust

Chola MS is built on two robust legacies—Murugappa Group’s Indian roots and Mitsui’s Japanese precision. This gives customers access to insurance plans that are rooted in local realities but crafted with global discipline.

2. Focused on Customer Centricity

The company designs its products around customer needs. From SMS alerts to multilingual customer care and doorstep document collection, Chola MS ensures its services are inclusive and accessible.

3. Speedy Claims Settlement

One of Chola MS’s strongest points is its streamlined claims process. Most vehicle claims are settled within 7 days. With 24×7 toll-free support, online tracking, and zero paperwork in many cases, the process is fast and hassle-free.

4. Pan-India Presence

With branches, tie-ups, and digital partners across the country—including tier 2, 3, and rural areas—Chola MS ensures that everyone, from a farmer in Nashik to a startup owner in Gurugram, has access to the right insurance.

5. Wide Range of Customisable Plans

Customers aren’t limited to cookie-cutter solutions. Chola MS allows flexibility with top-ups, riders, add-ons, and deductible choices so that your policy grows with your life stage or business needs.

6. Strong Digital Backbone

From policy issuance to renewal reminders and claim tracking, everything can be done online. The company’s mobile app, WhatsApp integration, and web portals ensure seamless customer interaction.

7. High Renewal Rates and Satisfaction Scores

With strong retention and renewal rates, the data speaks for itself. Customers who try Chola MS once, usually stay for years—thanks to value-added services, competitive pricing, and consistent customer care.

8. Responsible Insurance Provider

Chola MS is among the few insurers that take ESG goals seriously. It promotes green insurance, paperless operations, and social responsibility campaigns in rural India.

Product Portfolio

Let’s now dive into the product categories offered by Chola MS, covering what’s included, what’s excluded, and what makes each product stand out.

a) Car Insurance

Overview

Chola MS offers motor insurance that protects your vehicle, covers third-party liabilities, and gives access to 24×7 claims support and cashless garages across India.

Different Plans

• Comprehensive Car Insurance – Combines own-damage and third-party liability protection.
• Third-Party Liability Cover – Legally required policy for damage caused to others.
• Standalone Own-Damage Plan – For vehicle damage not involving third-party claims.

What Is Covered?

1. Accidental damage to the car
2. Theft, fire, or explosion
3. Natural disasters (floods, storms, earthquakes)
4. Legal liabilities to third parties
5. Personal accident coverage for the driver

What Is Not Covered?

1. Driving without a valid licence
2. Regular wear and tear
3. Damage due to drunk driving
4. Consequential losses
5. Use for racing or illegal activities

b) 2-Wheeler Insurance

Overview

Chola MS two-wheeler insurance offers protection for motorcycles and scooters with add-ons like roadside assistance and nil depreciation.

Different Plans

• Comprehensive Bike Insurance – All-round protection for riders and vehicles.
• Third-Party Only Cover – Mandatory by law for Indian bike owners.
• Bundled Long-Term Policy – Three to five-year plans with premium savings.

What Is Covered?

1. Accidental damage
2. Theft or fire incidents
3. Acts of nature like floods and landslides
4. Third-party legal claims
5. Optional zero depreciation cover

What Is Not Covered?

1. Electrical/mechanical failures
2. Wear and tear
3. Unauthorised use
4. Negligence-related damage
5. Loss without supporting documentation

c) Health Insurance

Overview

Chola MS health insurance provides essential financial cushioning against hospital bills, treatment costs, and preventive healthcare with coverage for individuals, families, and senior citizens.

Different Plans

• Chola Healthline – Core health plan with hospitalisation and cashless network.
• Critical Healthline – Covers major illnesses like cancer and stroke.
• Family Floater – One premium for all family members.

What Is Covered?

1. In-patient hospitalisation expenses
2. Pre- and post-hospitalisation up to 60/90 days
3. ICU charges and diagnostics
4. Ambulance fees and emergency care
5. Coverage for specified critical illnesses

What Is Not Covered?

1. Cosmetic surgeries
2. Claims within initial waiting period
3. Experimental or unproven treatments
4. Injuries from self-harm
5. Non-disclosure of medical history

d) Accident Insurance

Overview

This policy secures you and your family in case of sudden accidents that result in death, disability, or income loss.

Different Plans

• Personal Accident Policy – Lump sum payout for injury or death.
• Family Accident Insurance – Extends benefits to spouse and children.
• Corporate Accident Policies – Group insurance for employers.

What Is Covered?

1. Death due to accident
2. Permanent total or partial disability
3. Temporary income loss
4. Medical expenses post-accident
5. Hospital cash allowance

What Is Not Covered?

1. Suicide or self-inflicted injuries
2. Driving under influence
3. Unauthorised usage of vehicles
4. Participation in war-like acts
5. Pre-existing conditions

e) Home Insurance

Overview

Home insurance by Chola MS ensures financial security against damages caused to your property and its contents.

Different Plans

• Structure Cover Only – For homeowners who want to protect the building.
• Contents Only Insurance – Covers electronics, jewellery, appliances.
• Tenant Home Policy – Ideal for renters wanting protection for personal belongings.

What Is Covered?

1. Fire and lightning damage
2. Theft and burglary
3. Natural calamities
4. Man-made disasters like riots
5. Burst pipes or electrical fires

What Is Not Covered?

1. Willful negligence
2. Undeclared high-value items
3. War and nuclear risks
4. Properties under legal dispute
5. Wear and tear or construction defects

f) Travel Insurance

Overview

Travel insurance policies offer coverage during international or domestic trips—ensuring health, baggage, and travel risks are covered.

Different Plans

• Standard Travel Plan – Short-term coverage for holidays.
• Student Travel Cover – Long-duration plans with study-related protection.
• Corporate Travel Plan – Frequent business travel protection.

What Is Covered?

1. Emergency medical treatment abroad
2. Baggage and passport loss
3. Trip delays and cancellations
4. Legal expenses
5. Personal liability overseas

What Is Not Covered?

1. Claims for existing health issues
2. Travelling against medical advice
3. Terrorism-related injuries
4. Unreported baggage claims
5. Mental illness treatments abroad

g) Commercial Vehicle Insurance

Overview

This insurance is designed for trucks, lorries, passenger vehicles, and fleets used for business purposes.

Different Plans

• Goods Carrying Vehicles – For lorries, tempos, and cargo vans.
• Passenger Transport Insurance – For buses, taxis, auto-rickshaws.
• Fleet Policies – Customised coverage for business-owned fleets.

What Is Covered?

1. Accidents and third-party liability
2. Natural disaster damage
3. Fire and theft
4. Towing and roadside assistance
5. Owner-driver accident cover

What Is Not Covered?

1. Overloading or misuse
2. Driving without permit
3. Tyre and tube damage
4. Use in illegal operations
5. Consequential engine damage

Claims Process

Chola MS has simplified the claim filing process. Whether it’s a motor accident or a medical emergency, help is prompt and paperless.

Steps:

1. Intimate the claim through toll-free, website, or app.
2. Submit basic documents and claim forms.
3. Company assigns a surveyor or initiates cashless approval.
4. Claim is assessed and verified digitally.
5. Settlement is completed through bank transfer.

Renewal Process

With Cholamandalam MS, renewals are quick, digital, and come with reminders to avoid policy lapse.

Steps:

1. Visit the Chola MS website or app.
2. Enter policy details and validate OTP.
3. Review existing coverage and premium.
4. Add riders or update details.
5. Pay online and get renewed instantly.

Distribution Network

Community Engagement

Chola MS supports financial literacy through school visits, SHG training, and rural workshops.

Green Insurance and ESG

It has introduced e-policies, reduced carbon emissions, and partnered with green offices to promote sustainability.

Wellness Campaigns

Free health check-ups, online health tracking, and preventive care packages are extended to policyholders.

Awards and Recognitions

• “Best General Insurance Brand” by a leading business group
• ISO certification for customer service
• Recognised by IRDAI for fast claim resolution
• Customer service excellence awards across zones

Final Thoughts:

Cholamandalam MS General Insurance is more than just a policy provider. It is a partner in managing life’s uncertainties. With a mix of tradition and tech, local relevance and global quality, it’s a brand that Indians can count on.

Whether you are buying your first car, expanding your business fleet, securing your family’s health, or insuring your dream home—Chola MS offers a policy that fits. Choose wisely. Choose Chola MS.