New India Assurance company is presently a wholly owned govt.of India insurance company.There is 3 tier structure viz Branch office,Divisional office and Regional office.The staff strength in the company has drastically reduced due to mass retirement and absence of recruitment for over 20 years.Accordingly many had lost their prospect and could not go higher in cadre.Never the less situations have changed and mass recruitment at both officer level and Assistant level has started.After their entering the services of the company employees are given induction training.But the service seniority is reckoned from the date of joining the company.There is ample scope for quick promotions now and one can rise to high cadre. The salary of the New Indian's is very high compared to the salary given by banks to similar cadre.There are also lot of facilities like housing loan,vehicle loan,leave encashment once in 2 years,Leave travel facility,holiday home facility,maternity and paternity leave,
Employee's have cent percent job security.There is also good team work among them.Normally work pressure is felt on the employees especially those who are good workers.But these are ignored by the management when any small complaints lodged against them by the public which actually would have been the crooked conspiracy of vested interest persons resulting in stalling the promotion prospects of hard working employees.Since Regional In charges are the recommending authority for grant of promotion by head office and these people will not be familiar to us due to their coming from other states and may not be knowing the working efficiency of the particular person,simply discard him just because of the falls complaints. There are now lot of forums like RTI act,consumer forums,civil courts for redressing the grievances of the public with respect to claims,policy issuing etc.
The nature of job was thrilling and also tight work.I was Asst.Manager at the time of retirement and I was in charge of the Motor Legal Dept. as well as all other claims Dept.like Motor,fire,Misc. etc.Being second officer in the Division,I
The colleagues are helpful, if somewhat old fashioned in their work ethics.The training is pretty good, especially if you're working in a good LOB. The career growth is mostly dependent on your performance in the exam, although if you wanna take a relaxed attitude in life, you can also go for promotion based on seniority. The salary is decent, depending on the place of posting.If you are in a development role, you get a lot of opportunity to travel.The exposure is excellent especially if you are in a Technical Department in HO or RO.The work environment is relaxed and life is easy here.The work life balance is excellent, except in some places.
The workmates are a bit old fashioned and competency can be a problem.Often politics rears its ugly head and you can be pushed to the background in spite of working hard.The salary isn't enough in places like Mumbai and the perks are miserly.The work culture is old-fashioned and innovative ideas aren't encouraged much.
The job might be exciting or boring, depending on the role you are offered.
New india Assurance co. is multi national insurance co.for Gen insurance company.this company is trust worthy company for customer service and solvency margin of this company is highest comparatively other gen insurance co..this company is known for best corporate governance. work culture in this co. is best.this company is always known for first company for introduction.of new product. e.g. title insurance..credit insurance. training is important subsystem of .this company. employees are trained from time to time.leaders of this company always known as successful leaders .this company has presence in 28 countries.i am proud that i worked in this company.
it is very difficult to identify negative points for this company.
The company which I worked is fabulous place where I had learned how to work SMART during work pressures that is the reason I also got promoted in to the CLAIMS department. It is the place where I had also learnt lot many things and come up with a good experience. Every day my office staff used to help me a lot even in their Difficult times.
Over all company will be excellent in all the things but i was a Temporary Employee in the office there will be no growth for my future.
My job in the company is to Underwrite the policy for the site provided from them which will be a challenging one and definitely I should bare the responsibility if any thing goes wrong and really its great learning experience to tackle the tasks.
New India Assurance is largest General Insurance Co in India in respect of premium, profitability, no. of offices and market share. It's market share of 16 is highest among 30 nos. General Insurance companies in India. The company is innovating new products every year. The employees are efficient and work environment is good.
Working at New India is a blessing. My assignment at New India was exciting and I enjoyed the job very much
Though I have worked for almost 2 and half years in New India but it was very enriching experience. The Co. has well set systems procedures not only in HR, but all other important Corporate activities. Positive Corporate culture, great job satisfaction and promising growth opportunities,.
Salary revision takes place though regularly the period is long
New Indians keep their heads high always and are confident of themselves.
Company Culture is a double-edged sword.Company Culture has become a sort of private property of a few who feel they are the custodian and do not allow innovation by others who have joined after them and who want to add value to the culture.