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Cholamandalam MS General Insurance
OneAssure Rating
Our Verdict
Chola MS Health Insurance offers comprehensive plans covering hospitalization expenses, pre- and post-hospitalization costs, and access to over 10,000 cashless hospitals. Their policies feature lifelong renewability, cumulative bonuses, and health check-ups as part of renewal benefits. The company demonstrates efficiency in claim settlements, processing 96.52% of claims within 30 days. However, the claim settlement ratio stands at 76.63%, which is relatively moderate. Prospective policyholders should review specific plan details, including coverage for chronic conditions, maternity benefits, and global coverage options, to ensure the policy aligns with their healthcare needs.
Pros
Comprehensive Insurance Solutions
Offers diverse products, including motor, health, property, travel, and crop insurance, meeting varied customer needs.
In-House Health Claims Processing
Chola MS’s HELP unit, established in 2008, handles health claims in-house, providing efficient, seamless, and customer-friendly service experiences.
Extensive Cashless Hospital Network
Chola MS offers 10,000+ cashless hospitals, ensuring timely medical care without immediate out-of-pocket expenses for policyholders.
Pros
Cons
Delayed Claim Settlements
Policyholders have reported prolonged claim processing times, leading to financial strain
Regulatory Penalties
The Insurance Regulatory and Development Authority of India (IRDAI) fined the company ₹1 crore for violating commission payment rules.
Cons
Company Stats
Industry Avg.
Cholamandalam MS General Insurance
Gross Direct Premium
Industry Avg.
Cholamandalam MS General Insurance
ICR%
Rating 7.5/10
About the Company
Chola MS General Insurance Company Limited is a joint venture between the Murugappa Group and Japan’s Mitsui Sumitomo Insurance Company. Guided by its T3 philosophy—Trust, Transparency, and Technology—Chola MS is committed to delivering reliable and innovative insurance solutions, reflecting its focus on customer-centricity and technological excellence.
Founded in 2001, Chola MS General Insurance Company Limited is headquartered in Chennai, Tamil Nadu. The company is led by V. Suryanarayanan, who serves as its CEO and Managing Director.
KYC Documents Required
Aadhar Card
Voter ID Card
PAN card
Passport
Claim Settlement
Cashless Claim
Reimbursement Claim
Renewal
Online Renewal
Offline Renewal
Key points to remember during Renewals
Customer Support
Talk to an OneAssure Insurance Expert for FREE.
Toll Free - 1800-208-5544,
E-mail - customercare@cholams.murugappa.com