Shriram General Insurance

What Shriram General Insurance does

Shriram General Insurance Company Limited is an IRDAI-registered general insurer incorporated in 2006 in Rajasthan, India, operating as a joint venture between Shriram Capital Limited and Sanlam Limited (South Africa). The company underwrites a broad portfolio of retail and commercial general insurance products, with motor insurance (car, two-wheeler, EV, commercial vehicles, and motor legal aid) contributing over 90% of premium income. Non-motor and health lines — including Shri Health Suraksha 2.0 (unlimited restoration, no room rent cap, air ambulance cover), Shri Criti Care, Shri Vector Care, personal accident, home, travel, cyber, fire, engineering, marine, and liability products — form a growing secondary book.

The technology stack centers on a digital insurance platform comprising the MySGI mobile app, online policy issuance, digital claims processing, and integrations with CKYC (video KYC), UIDAI/Aadhaar, ABHA (Ayushman Bharat Health Account), and the CAMS Account Aggregator framework, enabling paperless onboarding and consent-driven financial data sharing. Distribution is multi-channel: direct-to-consumer via website and app, an extensive agent and financial advisor network (planned expansion to 2 lakh advisors by FY30), corporate agency partnerships (notably Piramal Finance's 701-branch network), and planned bancassurance.

The company earns revenue through recurring insurance premiums across motor, health, and non-motor lines, supplemented by investment income on its float (₹255 crore in Q3 FY26, up 17% YoY). Gross direct premium reached ₹4,636 crore in FY26 (up 24% YoY versus ~9% industry growth), with motor contributing ₹4,293 crore. The company serves 65 lakh+ active customers across India, holds 69 lakh active policies as of March 2026, and has issued 5.27 crore total policies with 25.74 million claims settled. Anil Kumar Aggarwal serves as Managing Director & CEO.

Name

Shriram General Insurance

Legal name

Shriram General Insurance Company Limited

Website

https://shriramgi.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Shriram General Insurance is an India-based, IRDAI-licensed general insurer (JV between Shriram Capital and Sanlam) underwriting motor, health, and non-motor insurance products for retail and commercial customers, distributed via digital platforms, agents, and partnerships.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Health and Medical Insurance Carriers (524114), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Commercial Auto & Fleet Insurance (FSAJAMAB)

akta.pro secondary industries

Mid-Market Commercial Package (Package Policies) (FSAJAFAB), General Liability Insurance (FSAJAMAE), Product Liability & Recall (FSAJAGAG), Commercial Auto for Specialty Vehicles (Tow Trucks, Limousines, Dump Trucks, etc.) (FSAJABAG), Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD)

Keywords

• General insurance products
• Motor vehicle insurance
• Health insurance coverage
• Commercial insurance policies
• Property insurance services

Headquarters

HQ city

Jaipur

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D, Others

Revenue model

1. Motor Insurance Premiums: Motor insurance is the largest revenue contributor. Includes car, bike, commercial vehicle, EV vehicle insurance. FY26 motor segment expanded 23.43% to ₹4,293 crore.
2. Health Insurance Premiums: Health insurance products including Shri Health Suraksha, Shri Criti Care, and other health riders. Growing segment with new Shri Health Suraksha 2.0 launch.
3. Non-Motor Insurance Premiums: Personal accident, home, travel, fire, engineering, marine, and cyber insurance products generating recurring premiums.
4. Liability Insurance Premiums: Commercial and personal liability insurance including professional indemnity, product liability, public liability, and workers compensation.
5. Investment Income: Returns on insurance float and investment portfolio. Q3 FY26 investment income grew 17% to ₹255 crore. Supports profitability alongside underwriting.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Shriram General Insurance underwrites and distributes general insurance products in India, with a portfolio spanning motor (car, two-wheeler, commercial vehicle), health, personal accident, home, fire, engineering, marine, and liability insurance. The company primarily serves semi-urban and rural customers, distributing through a 64-branch network, a digital platform (MySGI app and website), and an extensive partner network of 18,000+ hospitals and 6,400+ garages.

Product overview

Shriram General Insurance operates as a joint venture between Shriram Capital Limited and Sanlam Limited (South Africa), licensed by IRDAI. The company offers a broad portfolio of general insurance products organized into motor insurance (car, bike, EV vehicles, commercial vehicles), non-motor insurance (personal accident, home, travel, cyber), health insurance (Shri Health Suraksha 2.0, critical illness, hospital cash, vector care, ambulance coverage), and commercial insurance (fire, engineering, marine, liability). The product portfolio is complemented by digital service platforms including the MySGI mobile app for policy management and an ABHA card registration service for government health identity management. The company distributes through multiple channels including agents, digital platforms, and partnerships with financial institutions like Piramal Finance.

Differentiator

Problem solved

Functional benefit

Brands

• MySGI App: Mobile application for insurance at fingertips with prompt and reliable service, simple and seamless claim process. Purchase, renew and explore all insurance needs.
• Shri Health Suraksha 2.0

Products and services

• Car Insurance
• Two Wheeler Insurance
• Commercial Vehicle Insurance
• Health Insurance
• Personal Accident Insurance
• Home Insurance
• Fire Insurance
• Marine Insurance
• Engineering Insurance
• Liability Insurance
• Shri Motor Legal Aid Insurance
• MySGI App
• ABHA Card Registration

Quantifiable outcome

• 24% premium growth vs 9% industry growth in FY26
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature5 records

Partnerships

One partnership is on record.

• Piramal FinancecoreChannel Partner/ Reseller/ Distributor · 25 May 2026Corporate agency partnership enabling insurance product distribution through Piramal Finance's network of 701 branches across 26 states and over 13,000 pin codes. Aims to reach Piramal's base of over 5 million customers in semi-urban and rural markets where insurance coverage remains low. Supports broader financial inclusion goals.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ICICI Lombard General Insurance: One of India's largest private general insurers offering motor, health, and commercial lines. Directly comparable to Shriram across product portfolio and target segments, with similar emphasis on digital distribution.
• Bajaj Allianz General Insurance: Major private general insurer competing across motor, health, and commercial insurance. Strong motor franchise makes it a direct benchmark for Shriram's motor-led portfolio and distribution strategy.
• HDFC ERGO General Insurance: Top private general insurer with broad motor and health offerings and deep bancassurance distribution. Comparable to Shriram in product breadth and channel mix, though larger in absolute scale.
• Tata AIG General Insurance: JV between Tata Group and AIG offering motor, health, and commercial lines. Directly competes with Shriram across the same general insurance categories with similar joint-venture ownership structure.
• SBI General Insurance: Subsidiary of State Bank of India offering motor, health, and commercial policies with massive bancassurance reach. Direct competitor with comparable distribution-led model.
• Reliance General Insurance: Part of Reliance Group offering motor, health, and commercial insurance. Comparable general insurer competing in similar customer segments with overlapping product lines.
• Universal Sompo General Insurance: Mid-sized private general insurer with bank-distribution-led model similar to Shriram's Piramal partnership strategy. Comparable scale and product portfolio with focus on bancassurance channels.
• Kotak Mahindra General Insurance: Subsidiary of Kotak Mahindra Bank offering motor, health, and commercial insurance leveraging banking group distribution. Closely comparable distribution model and product breadth to Shriram.
• Future Generali India Insurance: JV between Future Group and Generali offering motor, health, and commercial lines. Mid-sized private insurer with comparable scale and joint-venture ownership structure akin to Shriram.

Broad incumbents

• New India Assurance Company: India's largest general insurer (public sector) with dominant market share across motor, health, fire, and marine lines. Broader scale and government backing make it the dominant incumbent Shriram competes against.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Customer concentration

• Xx.com/Shriram_GI
• YouTubeyoutube.com/channel/UCbIuwCZG7GjPL9sv-qI0zUA
• Facebookfacebook.com/shriramgeneralinsurance
• LinkedInlinkedin.com/company/shriram-general-insurance-co--ltd-
• Instagraminstagram.com/shriramgi

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shriram General Insurance