Future Generali India Insurance Company Ltd. is one of the fastest-growing general insurance companies in India. It offers a wide range of non-life insurance products across health, motor, travel, home, and personal accident segments. Backed by the legacy of the global insurance leader Generali Group, it combines robust financial backing with Indian market experience.
In a landscape where customers demand speed, simplicity, and reliability, Future Generali delivers with its tech-driven solutions, high claim settlement ratios, and user-friendly insurance products. With over 3 crore customers served and a growing footprint across the country, the company is playing a key role in bridging the insurance gap in India.
Company Background
Future Generali was established in 2007 as a joint venture between India’s Future Group, a retail conglomerate, and Italy’s Generali Group, a leading global insurer with over 190 years of insurance expertise.
In 2022, Generali increased its equity stake to 74%, and in 2023, it acquired the remaining stake of Future Group, making it a fully foreign-owned Indian insurance company, subject to IRDAI regulations. This change enabled Generali to bring more capital, best-in-class global practices, and advanced technologies into the Indian market.
Key milestones include:
- Launch of retail and corporate insurance offerings (2008)
- Crossed ₹1,000 crore premium mark (2013)
- Introduced digital platforms and mobile app (2016)
- Achieved solvency margin well above regulatory standards (2021)
- Generali takes full control and repositions for growth (2022-23)
Why Choose Future Generali India Insurance Company Ltd.?
1. Global Expertise with Local Focus
With the strong foundation of the Generali Group, customers receive world-class insurance solutions tailored for Indian needs. The company combines European risk management principles with Indian regulatory compliance and consumer expectations.
2. Innovative Product Design
From flexible health plans with maternity and wellness benefits to customised motor insurance with add-on covers, Future Generali’s offerings are built around real customer needs—not generic templates.
3. Tech-Powered Services
The insurer offers a feature-rich mobile app, seamless online policy issuance, and AI-driven customer service bots that significantly reduce response and claim processing time.
4. Fast and Fair Claims Settlement
With an in-house claims team, real-time tracking, and cashless hospital tie-ups, the company ensures fast and fair settlement. The claim settlement ratio of 94.42% in health insurance speaks volumes.
5. Customised Corporate Insurance Solutions
For MSMEs and large enterprises, the insurer offers specialised risk covers like group health, marine cargo, cyber insurance, liability, and property insurance tailored to sector-specific risks.
6. Excellent Customer Support
Policyholders can access 24×7 support via toll-free helpline, chatbot ‘REVA’, email, or app. Feedback loops and grievance redressal are quick and efficient.
7. Financially Sound and Compliant
Its solvency ratio is consistently above the IRDAI benchmark of 1.50, ensuring the company’s long-term stability and ability to honour claims even in adverse scenarios.
8. Focus on Financial Inclusion and Awareness
Through rural insurance programs and financial literacy drives, Future Generali is actively working to increase awareness and penetration in underinsured parts of India.
Product Portfolio Overview
- Health Insurance
Future Generali offers retail, floater, critical illness, top-up, and group health insurance plans. Plans like Health Total and FG Health Absolute are designed for comprehensive protection with added benefits like maternity, mental health coverage, and wellness rewards.
What is Covered:
- In-patient hospitalisation
- Daycare procedures
- Pre- and post-hospitalisation (30/60 or 60/90 days)
- AYUSH treatment
- Annual health check-ups
- Emergency ambulance
What is Not Covered:
- Cosmetic and plastic surgery
- OPD consultations (unless covered in specific plans)
- Pre-existing diseases during waiting period
- Self-inflicted injuries and substance abuse-related claims
- Motor Insurance
Offers third-party and comprehensive insurance for cars and two-wheelers. Comprehensive plans include personal accident cover and can be enhanced with add-ons like zero depreciation, engine protection, roadside assistance, etc.
What is Covered:
- Accidental damage to vehicle
- Theft or total loss
- Third-party injury/death or property damage
- Fire, flood, riot, earthquake, and natural disasters
- Personal accident for owner-driver
What is Not Covered:
- Driving without licence or under alcohol influence
- Regular wear and tear
- Electrical or mechanical breakdown
- Using private vehicles for commercial purposes
C) Travel Insurance
Offers international and domestic travel insurance with specialised plans for students, frequent flyers, senior citizens, and families. Covers medical and non-medical travel emergencies.
What is Covered:
- Medical expenses, hospitalisation abroad
- Trip cancellation or delay
- Baggage loss/delay
- Emergency evacuation and repatriation
- Personal liability overseas
What is Not Covered:
- Travelling against medical advice
- Pre-existing illnesses
- Travel for medical treatment
- Claims due to war, terrorism, or nuclear risk (unless specifically covered)
D) Home Insurance
Provides protection against loss or damage to your building structure and contents. Ideal for homeowners and tenants alike, it safeguards against fire, theft, and natural disasters.
What is Covered:
- Fire and allied perils (floods, storms, landslides)
- Burglary and theft
- Damage to electronic appliances, jewellery, art
- Temporary accommodation costs post-incident
What is Not Covered:
- Unoccupied homes for extended periods
- Construction defects
- Illegal or unauthorised modifications
- Damage due to gradual wear and tear
E) Personal Accident Insurance
Ensures financial support in case of accidental injuries, disability, or death. Suitable for salaried individuals, self-employed professionals, and gig workers.
What is Covered:
- Accidental death benefit
- Permanent or partial disability
- Temporary total disability income
- Medical expenses and hospital cash
- Transportation and funeral expenses
What is Not Covered:
- Suicide or self-injury
- Injuries under intoxication
- Participation in hazardous sports (unless opted)
- Criminal acts or war-related injuries
Claims Process
Claims are designed to be fast and customer-friendly, backed by digital-first operations.
Step-by-Step Claims Process:
- Inform the company through app, website, or helpline within stipulated time.
- Submit documents – claim form, policy copy, ID proof, FIR (if applicable), bills.
- Survey or investigation is initiated (if required).
- Assessment and verification by the claims team.
- Claim settlement – reimbursement or cashless, based on policy terms.
Turnaround for most claims is under 7 working days. Cashless tie-ups are available with 6,000+ hospitals and 4,000+ garages.
Technological Innovations and Digital Transformation
Future Generali is setting benchmarks with its digital tools and automation initiatives:
- FG Insure App – Allows policy purchase, renewal, claim intimation, and tracking.
- Chatbot REVA – AI-powered assistant available 24/7 for instant help.
- Self-Video Claims – Enables remote inspection and approval for minor motor damages.
- Smart Underwriting – AI tools assess risk more accurately and quickly.
- Digital KYC and Instant Policies – Reduces paperwork and enhances onboarding speed.
This digital overhaul improves user experience, operational efficiency, and customer satisfaction.
Financial Strength and Performance
Backed by the €81 billion+ Generali Group, Future Generali is well-capitalised and growing.
- Gross Written Premium (FY 2023-24): ₹4,400+ crore
- Claim Settlement Ratio: Health – 94.42%, Motor – 91.2%
- Solvency Ratio: 1.70 (IRDAI requirement is 1.50)
- Operating Profit Margin: Positive over three fiscal years
- Rank: Among top 10 private general insurers by revenue
Their strong balance sheet enables the company to invest in tech, products, and customer service innovation.
Distribution Network and CSR
Distribution Strength:
- 125+ physical branches
- 16,000+ trained agents
- Tied with banks, NBFCs, and fintech platforms
- Digital aggregators and B2B2C channels
CSR and ESG Focus:
- Financial literacy programs in rural areas
- Climate-conscious paperless policies
- Mental health and wellness initiatives
- Employee volunteering for social causes
- ESG reporting aligned with Generali Group goals
Future Generali’s inclusive growth model ensures it contributes to both the economy and society.
Awards and Recognitions
The insurer has been consistently recognised for excellence in service and innovation:
- Customer Fest Awards 2023 – Best Digital Transformation Initiative
- ET Insurance Awards – Best Claim Management Process
- Great Place to Work Certification – 2022 & 2023
- Red Hat APAC Innovation Awards – Digital automation leadership
- BW Businessworld – Top InsurTech Adoption Award
These accolades highlight the company’s relentless focus on service quality and customer experience.
Final Thoughts
Future Generali India Insurance Company is a modern insurer with deep roots, global experience, and a futuristic vision. Its diverse portfolio, strong technology infrastructure, and commitment to service excellence make it one of the most reliable general insurers in India.
Whether you are an individual looking for comprehensive health cover or a business seeking risk solutions, Future Generali offers flexible, affordable, and efficient products backed by trustworthy service.
In a market flooded with options, Future Generali emerges as a balanced, bold, and forward-thinking choice—ready to protect your future, today.
