The Oriental Insurance Company

What The Oriental Insurance Company does

The Oriental Insurance Company Limited (OICL) is a Public Sector Undertaking wholly owned by the Government of India and one of the country's four state-owned general insurers, incorporated in 1947 and headquartered in New Delhi. It underwrites non-life insurance across motor, health, travel, personal accident, marine, fire, liability, professional indemnity, and rural/agricultural lines (livestock, pumpsets, aquaculture, freshwater fish), and in July 2026 added a parametric climate-risk product (Sarvatra Suraksha). Products are distributed through a 1,000+ office branch network across India plus overseas branches in Nepal, Kuwait, and Dubai, supported by 62,000+ agents and POSPs, broker and IMF partnerships, and digital self-service channels including a web portal, mobile app, and WhatsApp chatbot. Operational technology spans an ISO/IEC 27001:2022-certified digital platform, AI-driven motor own-damage loss assessment up to Rs. 50,000, IIB Kavach fraud analytics, ABHA integration for health claims, and 19 Third Party Administrators for cashless claim processing.

Revenue is generated primarily through annual insurance premiums (gross direct premium of Rs. 20,327 crores in FY 2024-25, +8.15% YoY) supplemented by investment income of Rs. 3,817 crores from the policyholders' and shareholders' investment portfolio. Net premium was Rs. 17,274 crores (+6.68% YoY) and profit after tax turned around to Rs. 144 crores from Rs. 19 crores the prior year, with a claim settlement ratio of 91.64% and a retention ratio of 84.98%. Customer concentration is structurally low, spread across individual/family, rural/farmer, commercial enterprise, and institutional/government segments priced via annual subscription models. The model is anchored on regulatory moat and PSU distribution scale rather than proprietary underwriting technology, though it is incrementally layering digital and AI capabilities. The principal forward risks are a solvency margin of 1.03 (below the 1.5 IRDAI minimum) flagged by the RBI for five consecutive quarters, an AA- credit rating with negative outlook, and operational fraud incidents (a CBI-registered embezzlement case at the Surendranagar office).

Name

The Oriental Insurance Company

Legal name

The Oriental Insurance Company Limited

Website

https://orientalinsurance.org.in

Company type

Private

Founded year

1947

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

The Oriental Insurance Company Limited (OICL) is a Government of India-owned public sector general insurer, founded 1947 and headquartered in New Delhi, underwriting motor, health, travel, liability, rural, and parametric climate insurance across India and overseas (Nepal, Kuwait, Dubai) through a 1,000+ office and 62,000+ agent network.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Insurance Carriers (5241), Direct Property and Casualty Insurance Carriers (524126), Direct Health and Medical Insurance Carriers (524114)

SIC

Insurance Carriers, Nec (6399), Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321)

akta.pro primary industry

Product Liability (FSAJADAC)

akta.pro secondary industries

Travel & Accident (Non-Life) Insurance (FSAJAMAN), Individual AD&D Insurance (Direct-to-Consumer) (FSAIALAC), Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

Keywords

• General insurance services
• Health insurance products
• Motor insurance coverage
• Personal accident insurance
• Rural insurance solutions

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: Gross direct premium income from various insurance segments including Motor, Health, Fire, Marine, and Miscellaneous. Premium collection through multiple channels including digital platforms, agents, and brokers.
2. Investment Income: Profits from sale of investments and income from interest, dividend and rent from investment portfolio. Investment income of Rs. 1,933 crores from profit on sale of investments and Rs. 1,884 crores from interest/dividend/rent for FY 2024-25.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

The Oriental Insurance Company Limited is a Government of India-owned public sector general insurer offering a diversified portfolio of non-life insurance products including health, motor, travel, personal accident, fire, marine, liability, and rural insurance. Products are sold through a multi-channel network comprising 1,000+ offices, 62,000+ agents, brokers, POSPs, digital portals, a mobile app, and a WhatsApp bot, serving individual, family, commercial, and institutional customers across India and overseas in Nepal, Kuwait, and Dubai.

Product overview

The Oriental Insurance Company (OICL) operates as a public sector general insurance company offering a comprehensive portfolio of insurance products organized across multiple segments. The product portfolio includes: Motor Insurance (Four Wheeler, Two Wheeler, Commercial Vehicles for passengers and goods, Standalone CPA); Health Insurance (Oriental Mediclaim Individual, Sampoorna Swasthya Suraksha, Happy Family Floater, Arogya Sanjeevani, Super Health Top Up, Cancer Protect, Critical Illness, Happy Cash, Youth Eco Care); Travel Insurance (Bharat Darshan, Flight Coupon, Overseas Mediclaim); Personal Accident (Personal Accident, Nagrik Suraksha, Saral Suraksha Bima, Janata Personal Accident); Marine (Single Voyage Inland Policy); Liability (Employees Compensation, Public Liability Act, Directors & Officers, Professional Indemnity for Doctors and others); Property (Fire, Burglary/Housebreaking); and Rural Products (Livestock Cattle, Kisan Agricultural Pumpset, Sheep & Goat, Aquaculture Shrimp/Prawn, Fresh Water Fish, Universal Health). The company also launched Sarvatra Suraksha Parametric Policy in July 2026, a climate risk product. Products are distributed through multiple channels including agents, brokers, POSPs, digital portals, and TPAs.

Differentiator

Problem solved

Functional benefit

Products and services

• Oriental Mediclaim Insurance Policy (Individual) - 2024
• Oriental Sampoorna Swasthya Suraksha Policy
• Happy Family Floater Policy - 2024
• Arogya Sanjeevani Policy - Oriental-2024
• Oriental Super Health Top Up - 2024
• Oriental Cancer Protect Policy
• Oriental Critical Illness Policy
• Oriental Happy Cash - Nishchint Rahein! 2024
• Oriental Youth Eco Care Policy
• Four Wheeler Policy
• Two Wheeler Policy
• Commercial Vehicles (Passengers) Policy
• Commercial Vehicles (Goods) Policy
• Standalone CPA (Compulsory Personal Accident) Policy
• Bharat Darshan Policy
• Overseas Mediclaim Policy
• Flight Coupon Policy
• Sarvatra Suraksha Parametric Policy
• Personal Accident Policy
• Nagrik Suraksha Policy
• Saral Suraksha Bima Policy
• Janata Personal Accident Policy
• Fire Insurance Policy
• Burglary and Housebreaking Insurance Policy (Business Premises)
• Marine Single Voyage Inland Policy
• Employees Compensation Policy
• Public Liability Act Policy
• Directors and Officers Liability Policy
• Professional Indemnity - Doctors Policy
• Professional Indemnity - Other than Doctors Policy
• Livestock Cattle Policy
• Kisan Agricultural Pumpset Policy
• Sheep and Goat Policy
• Aquaculture Shrimp/Prawn Policy
• Fresh Water Fish Insurance
• Universal Health Policy

Quantifiable outcome

• 91.64% claim settlement ratio for FY 2024-25
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability5 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• ABHA (Ayushman Bharat Health Account)coreTechnology or Integration · 16 October 2025Integration with government health account platform for seamless claims journey
• SymbominorChannel Partner/ Reseller/ DistributorOfficial partner for insurance distribution through digital platforms
• Policy BazaarminorChannel Partner/ Reseller/ DistributorOnline insurance aggregator partner for policy distribution
• GramcoverminorChannel Partner/ Reseller/ DistributorRural insurance distribution partner focusing on agricultural and rural markets
• Risk CareminorChannel Partner/ Reseller/ DistributorRisk management and insurance distribution partner
• Raksha TPAcoreTechnology or IntegrationThird Party Administrator providing health claim processing services since June 2025

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• ICICI Lombard General Insurance: One of India's largest private general insurers offering motor, health, travel, fire, marine, and liability products through digital and agent channels. Directly comparable as a multi-line general insurer competing in the same segments with similar product breadth and target customers.
• SBI General Insurance: Private general insurer with State Bank of India as a major shareholder, offering motor, health, fire, and liability products. Comparable as a multi-line general insurer leveraging bank-distribution and competing in similar retail and SME segments.
• Tata AIG General Insurance: Private general insurer offering motor, health, travel, and commercial coverage with a strong brand and corporate client base. Directly comparable across product lines and target market, including the enterprise and SME segments.
• Reliance General Insurance: Private general insurer offering motor, health, travel, fire, and commercial products with a broad agent and digital distribution mix. Comparable as a multi-line general insurer competing across retail, SME, and commercial segments in India.
• New India Assurance Company: The largest PSU general insurer in India, also government-owned, offering a comparable multi-line portfolio (motor, health, fire, marine, liability). Directly comparable as a fellow PSU general insurer with overlapping product mix, distribution model, and customer base.
• United India Insurance Company: PSU general insurer similarly flagged by RBI for solvency concerns and included in the same combined PSU losses exceeding ₹11,400 crore. Directly comparable as a government-owned peer with matching product lines and channel structure.
• National Insurance Company: Another PSU general insurer, also flagged alongside OICL by the RBI for sub-1.5 solvency. Directly comparable as a government-owned general insurer with similar product portfolio, branch-based distribution, and customer segments.
• Bajaj Allianz General Insurance: Major private general insurer offering motor, health, travel, home, and commercial lines. Directly comparable across product categories and customer segments, with stronger digital execution than PSU peers.
• HDFC ERGO General Insurance: Top private general insurer offering motor, health, travel, home, and liability products with strong bancassurance and digital channels. Directly comparable as a multi-line general insurer competing for the same retail and commercial customers.

Emerging players

• Go Digit General Insurance: Tech-driven general insurer with focus on motor and health products sold through digital channels. Comparable on product categories (especially motor), but represents an emerging digital-first model that contrasts with OICL's branch-and-agent heavy distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/oiclinsurance
• Facebookfacebook.com/OrientalInsuranceCompanyLtd
• Instagraminstagram.com/oriental_insurance_official
• LinkedInlinkedin.com/company/the-oriental-insurance-company-ltd.

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

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 The Oriental Insurance Company