Universal Sompo
Universal Sompo General Insurance is a Mumbai-based joint venture general insurer (IRDAI Reg. 134) offering health, motor, commercial, and government-backed insurance products to retail, SME, corporate, and rural customers across India through bancassurance, agent, and direct digital channels.
- Company typePrivate
- Founded2007
- HeadquartersMumbai, India
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Universal Sompo does
Universal Sompo General Insurance Company Ltd. is a private Indian general insurer incorporated in 2007 as a joint venture between three Indian promoter banks (Indian Bank, Indian Overseas Bank, Karnataka Bank), Dabur Investment Corporation, and Japan's Sompo Japan Insurance Inc. (which holds a 34.61% stake). The company is IRDAI-registered (Reg. No. 134) and operates a multi-line general insurance portfolio spanning health (Complete Healthcare, A Plus Health, Senior Citizen, Pet), motor (private car, two-wheeler, commercial vehicles), commercial lines (property, marine, engineering, liability, fidelity, money, and specialty covers such as jewellery, cattle, and shopkeeper), government schemes (PMFBY crop insurance, Janata Personal Accident), and bancassurance products distributed through its three promoter banks plus a new APGB rural partnership. Distribution combines bank-led bancassurance, insurance agent/IMD networks, direct-to-consumer digital sales via website, the Pulz mobile app, and the Corporate Portal across 96+ branches and 3,000+ support advisors in India.
Underlying technology centers on the UnisphereAI digital platform, the Pulz mobile app, and online claim intimation/tracking systems supporting 15,500+ cashless network hospitals and an extensive garage network. The company runs a recurring premium revenue model with annual billing across health, motor, commercial, and government-backed lines, with multi-tier pricing (e.g., Complete Healthcare Rs 4-50 lakh sum insured, A Plus Health Rs 5 lakh to Rs 1 crore, vision and pet products added in 2025). Marketing channels include owned website, social media (Facebook, Instagram, LinkedIn, Twitter), WhatsApp, blogs, and earned media coverage in Economic Times, Hindu Business Line, and Financial Express.
The business is led by Managing Director & CEO Sharad Mathur (28 years in non-life insurance, formerly with SBI General Insurance and ICICI Lombard), with a full executive team including Deputy CEO Kuniaki Takahashi (Sompo Japan nominee), CFO Bankim Mapara, CRO Rishin Rai, CTO & Business Transformation Vikram Jain, and Chief Customer Officer Varsha Gujarathi. Universal Sompo targets Rs 6,000 crore in gross written premium for FY26 and is positioning itself for category expansion into life insurance, digital services, and nursing care through its Japanese shareholder, supported by favorable FDI reforms in India.
Universal Sompo firmographics
Firmographics- Name
- Universal Sompo
- Legal name
- Universal Sompo General Insurance Company Ltd.
- Website
- https://universalsompo.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Universal Sompo General Insurance is a Mumbai-based joint venture general insurer (IRDAI Reg. 134) offering health, motor, commercial, and government-backed insurance products to retail, SME, corporate, and rural customers across India through bancassurance, agent, and direct digital channels.
- Ownership category
- akta.pro rank
Universal Sompo industry classification
Industry- Product category
- General Insurance
- NAICS
- Direct Property and Casualty Insurance Carriers (524126), Direct Health and Medical Insurance Carriers (524114), Other Direct Insurance (except Life, Health, and Medical) Carriers (524128)
- SIC
- Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Ancillary & Supplemental Health Products (Accident/Critical Illness/Hospital Indemnity) (HLAEABAJ)
- akta.pro secondary industries
- Full-Coverage Personal Auto Insurance (FSAJAAAF), Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)
Keywords
Where Universal Sompo is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Universal Sompo business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Insurance Premium Revenue: Collection of premiums from policyholders across health, motor, commercial, and other insurance lines. Premiums are collected annually or per policy period with options for monthly, quarterly, semi-annual payment frequencies.
- Crop Insurance (PMFBY): Government-supported crop insurance scheme under Pradhan Mantri Fasal Bima Yojana providing coverage to farmers
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Complete Healthcare Insurance - Sum insured Rs 4 Lakhs to Rs 50 Lakhs |
| Subscription | Annual | A Plus Health Insurance - Sum insured Rs 5 Lakhs to Rs 1 Crore |
| Subscription | Annual | Motor Insurance - Private Car and Two-Wheeler coverage |
| Subscription | Annual | Commercial Insurance - Various business coverage products |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels5 records
Universal Sompo product offering
Product offeringCore offering
Universal Sompo General Insurance offers a comprehensive portfolio of general insurance products in India, including health insurance for individuals and families, motor insurance for private and commercial vehicles, commercial lines covering property, liability, marine, engineering and package policies, government-backed crop insurance (PMFBY), personal accident, pet insurance, and vision insurance. Products are distributed through bancassurance partnerships with Indian Bank, Karnataka Bank and Indian Overseas Bank, an agent/IMD network, 96+ branches, and direct digital channels including the Pulz mobile app and corporate website.
Product overview
Universal Sompo General Insurance is a joint venture between Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investment Corporation, and Sompo Japan Insurance Inc. The company operates as a general insurer offering a broad portfolio of insurance products organized across four main categories: Health Insurance (including Complete Healthcare Insurance with Rs 4-50 lakh sum insured and A Plus Health Insurance with Rs 5 lakh to Rs 1 crore coverage), Motor Insurance (covering private cars and two-wheelers), Commercial/Business Insurance (including property, liability, engineering, marine, and package policies), and Government Solutions (including PMFBY crop insurance and Janata Personal Accident). Additional offerings include Pet Insurance, Vision Insurance, and Bancassurance products distributed through partner banks. The company also provides digital services including a mobile app (Pulz), corporate customer portal, premium calculators, and AI-powered tools.
Differentiator
Problem solved
Functional benefit
Products and services
- Complete Healthcare Insurance Comprehensive health insurance policy for individuals and families covering hospitalization expenses with sum insured ranging from Rs 4 Lakhs to Rs 50 Lakhs across plan variants.
- A Plus Health Insurance Health insurance policy with sum insured from Rs 5 Lakhs to Rs 1 Crore featuring 100% auto restoration of sum insured, cumulative bonus up to 200%, wellness services with rewards, and global cover (Diamond plan); available in Silver, Gold, and Diamond variants.
- Senior Citizen Health Insurance Health insurance specifically designed for individuals aged 60 and above with coverage tailored to senior citizen healthcare needs.
- Motor Private Car Insurance Car insurance policy providing coverage for private cars against accidents, theft, and third-party liabilities.
- Two-Wheeler Insurance Insurance coverage for two-wheelers including motorcycles and scooters against accidents and third-party liabilities.
- Pet Insurance Insurance coverage for pets covering medical expenses and related costs for companion animals.
- Vision Insurance Standalone vision insurance plan covering eye care and vision-related medical expenses.
- Janata Personal Accident Insurance Government-supported personal accident insurance policy providing coverage against accidental death and disability.
- Pradhan Mantri Fasal Bima Yojana (PMFBY) Government-backed crop insurance scheme providing financial support to farmers against unforeseen crop losses.
- Farmer's Package Policy Commercial insurance policy designed for farmers covering personal assets including dwelling and contents against fire and theft.
- Burglary Insurance Policy Coverage for stocks and contents owned or held in trust against burglary at insured premises, including cash, valuables, and securities in locked safes.
- Jewellers Comprehensive Insurance Policy Insurance policy designed for jewellers and establishments dealing in diamonds and precious stones.
- Employee's Compensation Insurance Policy Insurance covering employer liability under the Indian Workmen's Compensation Act 1923 for employee injuries during employment.
- Fidelity Guarantee Insurance Policy Insurance for employers covering losses due to employee dishonesty or fraud when handling goods and money.
- Money Insurance Coverage for loss of money while being transported by employees or authorized persons between locations.
- All Risk Insurance Policy Coverage for movable equipment like laptops, mobile phones, handi-cams, and jewellery exposed to natural perils and theft.
- Standard Fire and Special Perils Policy Property insurance covering buildings, plant, machinery, furniture, stocks against fire and special perils.
- Bharat Griha Raksha Government-backed policy covering home buildings and home contents insurance.
- Bharat Sookshma Udyam Suraksha Insurance for small businesses covering physical loss or damage to business property.
- Bharat Laghu Udyam Suraksha Insurance for medium enterprises covering physical loss or damage to business property.
- Marine Cargo Open Transit Policy Coverage for goods during transit under contract of affreightment for inland and import/export shipments.
- Machinery Breakdown Policy Insurance for mechanical and electrical machinery and equipment against breakdown.
- Electronic Equipment Insurance Coverage for electronic equipment owned or held in trust against damage or loss.
- Contractors All Risk Insurance Insurance covering damage to property during construction from accidental and unforeseen causes.
- Erection All Risk Insurance Coverage for principals, contractors, and manufacturers during erection, testing, and commissioning of machinery and plant.
- Boiler and Pressure Plant Insurance Insurance for boilers and pressure vessels against explosion, implosion, and collapse risks.
- Industrial All Risk Insurance Comprehensive all-risks coverage for operational industrial risks.
- Public Liability (Act) Insurance Policy Coverage for statutory liability for death, injury, or property damage from accidents while handling hazardous substances.
- Public Liability (Industrial & Storage Risks) Insurance indemnifying against legal liability for compensation from accidents at industrial or storage facilities.
- Comprehensive Operational Large Risk Policy All-risk insurance for large manufacturing units with sum insured exceeding Rs 2500 crores.
- Cattle Insurance Policy Insurance for livestock including milch cows, buffaloes, sheep, and goats against accidental death or permanent total disablement.
- Householders Insurance Policy Comprehensive home insurance combining multiple coverage types for homeowners.
- Indian Bank Health Care Plus Health insurance policy distributed through Indian Bank bancassurance channel.
- Karnataka Bank Health Care Plus Health insurance policy distributed through Karnataka Bank bancassurance channel.
- IOB Health Care Plus Policy Health insurance policy distributed through Indian Overseas Bank bancassurance channel.
Quantifiable outcome
- 15,500+ cashless hospitals in network
- +2 more outcomes
Companies that use Universal Sompo
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles5 records
Universal Sompo technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Universal Sompo partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- APGB (Andhra Pradesh Grameena Vikas Bank)minorRegional rural bank partnership for insurance distribution in rural areas as mentioned in October 2025 media coverage.
Scale indicators5 records
Recent moves7 records
Expansion highlights6 records
Universal Sompo competitors and assessment
Company assessmentDirect peers
- ICICI Lombard General Insurance: One of India's largest private general insurers offering the same core lines — health, motor, commercial, and government-scheme coverage — and competing head-to-head across retail and bancassurance channels.
- Bajaj Allianz General Insurance: A leading private general insurer in India offering health, motor, and commercial coverage through a strong bancassurance and agent network; directly comparable in product breadth and distribution mix.
- HDFC ERGO General Insurance: Private general insurer with comparable diversified portfolio across health, motor, and commercial lines and a strong digital focus, overlapping with Universal Sompo's D2C and bancassurance channels.
- Tata AIG General Insurance: Indian joint venture general insurer (Tata Group + AIG) offering health, motor, and commercial insurance with bancassurance distribution — structurally similar to Universal Sompo's JV model.
- Cholamandalam MS General Insurance: Mid-to-large Indian private general insurer focused on motor, health, and SME commercial lines, with a strong bancassurance and dealer-tied motor distribution — directly comparable to Universal Sompo's product mix.
- Reliance General Insurance: Private general insurer offering health, motor, and commercial products across retail and corporate channels with an emphasis on digital distribution — comparable in scale and segment coverage.
- Future Generali India Insurance: Indian joint-venture general insurer (Future Group + Generali) offering health, motor, and commercial coverage through bancassurance and agency — comparable joint-venture structure and product mix.
Broad incumbents
- New India Assurance Company: India's largest public-sector general insurer and IRDAI market leader across health, motor, and commercial lines; competes with Universal Sompo on virtually every product category but at much greater scale.
- Oriental Insurance Company: Public-sector general insurer offering broadly the same health, motor, and commercial products as Universal Sompo but with a much larger branch network and government-linked book of business.
Emerging players
- Go Digit General Insurance: India-focused digital-first general insurer strong in motor and health; competes with Universal Sompo on D2C digital experience while being smaller and earlier in its growth trajectory.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Universal Sompo social profiles
Digital presenceUniversal Sompo compliance and trust
Trust signalCompliance1 record
Universal Sompo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Universal Sompo leadership team
Management profileNumber of profiles
Profiles17 records
Universal Sompo funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Universal Sompo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Universal Sompo
What does Universal Sompo do?
Universal Sompo General Insurance offers a comprehensive portfolio of general insurance products in India, including health insurance for individuals and families, motor insurance for private and commercial vehicles, commercial lines covering property, liability, marine, engineering and package policies, government-backed crop insurance (PMFBY), personal accident, pet insurance, and vision insurance. Products are distributed through bancassurance partnerships with Indian Bank, Karnataka Bank and Indian Overseas Bank, an agent/IMD network, 96+ branches, and direct digital channels including the Pulz mobile app and corporate website.
Is Universal Sompo a public or private company?
Universal Sompo is a private company. It is classified as corporate owned and is currently operating.
When was Universal Sompo founded?
Universal Sompo was founded in 2007. It employs 1,001 to 5,000 people.
Where is Universal Sompo based?
Universal Sompo is headquartered in Mumbai, India, in the Asia region.
How does Universal Sompo make money?
Two revenue lines are on record. Insurance Premium Revenue is the primary driver. The others are crop Insurance (PMFBY).
Who are Universal Sompo's main competitors?
Direct peers on record are ICICI Lombard General Insurance, Bajaj Allianz General Insurance, HDFC ERGO General Insurance, Tata AIG General Insurance, Cholamandalam MS General Insurance, Reliance General Insurance and Future Generali India Insurance. Broad incumbents are New India Assurance Company and Oriental Insurance Company. Go Digit General Insurance is listed as an emerging player.
Does Universal Sompo have an API?
No public API is recorded for Universal Sompo.
What industry is Universal Sompo in?
Universal Sompo's product category is General Insurance. Its primary akta.pro industry code is HLAEABAJ, Ancillary & Supplemental Health Products (Accident/Critical Illness/Hospital Indemnity), with a secondary code of FSAJAAAF, Full-Coverage Personal Auto Insurance. Its NAICS code is 524126 and its SIC code is 6331.