IRDAI Disclosures - Bharat Protection Insurance Company

MANDATORY

1. Company Information

 Basic Company Details:
                            
                                    Particulars
                                    Details
                                
                                    Company Name
                                    Bharat Protection Insurance Company Limited
                                
                                    IRDAI Registration Number
                                    ABC123456
                                
                                    Corporate Identification Number (CIN)
                                    U66000MH2008PLC123456
                                
                                    Date of Incorporation
                                    March 15, 2008
                                
                                    Registration Date with IRDAI
                                    June 30, 2008
                                
                                    Type of Registration
                                    Composite Insurance (Life & General)
                                
                                    Status of Registration
                                    Active

Particulars	Details
Company Name	Bharat Protection Insurance Company Limited
IRDAI Registration Number	ABC123456
Corporate Identification Number (CIN)	U66000MH2008PLC123456
Date of Incorporation	March 15, 2008
Registration Date with IRDAI	June 30, 2008
Type of Registration	Composite Insurance (Life & General)
Status of Registration	Active

2. Contact & Address Details

Registered Office

Address:
123 Finance District
Nariman Point
Mumbai, Maharashtra 400001

Phone: 022-1234-5678

Email: corporate@bharatprotectioninsurance.online

Customer Service

Toll Free: 1800-123-4567

Email: support@bharatprotectioninsurance.online

Working Hours: 9 AM - 8 PM (Mon-Sat)

Claims Helpline: 1800-123-CLAIM (24/7)

Grievance Officer

Name: Mr. Rajesh Kumar

Email: grievance@bharatprotectioninsurance.online

Phone: 022-1234-5679

Response Time: Within 3 working days

3. Financial Information (FY 2022-23)

 Key Financial Indicators:
                            
                                    Parameter
                                    Amount (₹ in Crores)
                                    Remarks
                                
                                    Gross Premium Written
                                    ₹ 1,245.67
                                    15% Growth
                                
                                    Net Premium Earned
                                    ₹ 1,098.45
                                    Stable
                                
                                    Total Assets
                                    ₹ 3,567.89
                                    Strong
                                
                                    Solvency Ratio
                                    1.85
                                    Above Requirement (IRDAI Min: 1.50)
                                
                                    Claims Paid Ratio
                                    97.3%
                                    Excellent
                                
                                    Net Profit
                                    ₹ 234.56
                                    Profitable
                                
                                    Investment Income
                                    ₹ 345.67
                                    Healthy

Parameter	Amount (₹ in Crores)	Remarks
Gross Premium Written	₹ 1,245.67	15% Growth
Net Premium Earned	₹ 1,098.45	Stable
Total Assets	₹ 3,567.89	Strong
Solvency Ratio	1.85	Above Requirement (IRDAI Min: 1.50)
Claims Paid Ratio	97.3%	Excellent
Net Profit	₹ 234.56	Profitable
Investment Income	₹ 345.67	Healthy

Auditor's Report:

Financial statements are audited by M/s. PricewaterhouseCoopers LLP, Chartered Accountants. Audit report is unqualified. Annual Report is available on our website and filed with IRDAI.

4. Board of Directors & Key Personnel

Board Composition:

Mr. Amit Sharma - Chairman & Independent Director
Ms. Priya Verma - Managing Director & CEO
Mr. Rajesh Patel - Whole-time Director (Finance)
Dr. Anil Kumar - Independent Director
Ms. Sneha Gupta - Independent Director
Mr. Vivek Singh - Appointed by Shareholders

Key Management Personnel:

Chief Risk Officer: Mr. Sanjay Mehta
Chief Compliance Officer: Ms. Neha Kapoor
Appointed Actuary: Mr. Ravi Shankar (Fellow of Institute of Actuaries of India)
Chief Investment Officer: Mr. Arjun Reddy

5. Products & Services Offered

IRDAI Approved Products:

Payment Protection

IRDAI File No: PP-2023-001

Life Insurance

IRDAI File No: LI-2023-045

Home Insurance

IRDAI File No: HI-2023-023

Motor Insurance

IRDAI File No: MI-2023-067

6. Claims Performance

Insurance Segment	Claims Received	Claims Settled	Repudiation Ratio	Avg. Settlement Time
Life Insurance	12,456	11,987 (96.2%)	2.1%	28 days
Motor Insurance	8,923	8,745 (98.0%)	1.5%	21 days
Home Insurance	3,456	3,345 (96.8%)	2.5%	32 days
Payment Protection	2,345	2,289 (97.6%)	1.8%	25 days
Overall	27,180	26,366 (97.0%)	1.9%	26 days

Performance Notes:

Claim settlement ratio consistently above industry average
Digital claims settlement introduced for faster processing
Cashless network includes 5,000+ hospitals and garages
Grievance resolution rate: 99.2% within 30 days

7. Grievance Redressal Mechanism

Complaint Statistics (FY 2022-23):

1,234

Total Complaints Received

1,224

Complaints Resolved

99.2%

Resolution Rate

7.2

Avg. Resolution Days

Escalation Matrix:

Level 1: Customer Care (1800-123-4567) - Resolution in 3 days
Level 2: Grievance Officer - Resolution in 7 days
Level 3: IRDAI Integrated Grievance Management System (IGMS)
Level 4: Insurance Ombudsman (for eligible cases)

8. Regulatory Compliance Status

Compliance Area	Status	Last Audit Date	Remarks
IRDAI Regulations	Fully Compliant	March 31, 2023	No adverse findings
Corporate Governance	Excellent	March 31, 2023	Score: 95/100
Anti-Money Laundering	Compliant	December 31, 2022	FATF guidelines followed
Data Protection	Compliant	March 31, 2023	ISO 27001 Certified
Investment Regulations	Compliant	March 31, 2023	Within prescribed limits

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Important Notice

These disclosures are updated quarterly. Last updated: Q4 2023. For latest information, visit IRDAI website: www.irdai.gov.in