When truth and transparency are built into the core of fibre of an insurance company, you know you are in trustworthy hands. This is the way of life at Magma HDI, and the fundamental reason it has been able to sell 1 million policies in FY19, as on February 21, 2019.
Having started operations only in 2012, Magma HDI has managed to build a strong reputation as a key player in the Indian insurance industry in a short span of time. It has steadily climbed growth charts with close to 1,000 employees, 169 135+ branches and 5,000-plus partners as opposed tofrom about 180 employees, 46 branches and 500 partners back in the year of its commencement.
So, what have been the key differentiators responsible for this success? The foremost reason is the company's utmost focus on honesty and transparency. When you choose Magma HDI, you get exactly what you have signed up for.
What's more, your struggle with endless, incomprehensible TnCs is over. Magma HDI believes in minimal TnCs that have important clauses are highlighted just as well as the other policy details. There are no hidden charges, and all costs are revealed to you upfront.
The company has a wide range of innovative retail and commercial products on offer that suit requirements of all kinds of buyers. It has over 50 products across categories to choose from and has issued more than 24 lakh policies till date.
The foundation on which Magma HDI has been able to build its standing is its high claim- settlement ratio. Magma HDI has settled 94.1% of claims generated in FY 17-18 compared to the industry average of 87.2%. Owing to this, Magma HDI has successfully settled more than 1.25 lakh claims till date.
Additionally, the claim settlement process is absolutely hassle-free. Almost 87.17% claims made in FY 17-18 were settled in less than 30 days compared to the industry average of 62.1%.
The insurance policy is written in an easy-to-understand language so that you know exactly what you are paying for. Magma HDI offers cost-effective bespoke pricing to accommodate every kind of customer and their needs and hence make access to insurance easier.
A good insurance provider must not only assure you and your loved ones of a safety net in times of need, but also offer you the much-needed peace of mind that the promises made to you will be kept. To check both these parameters off your list, go ahead with a trusted partner such as Magma HDI.