Adamjee Insurance Company Limited (AICL), Pakistan - Intro

Adamjee Insurance Company Limited (AICL) is one of Pakistan’s major general insurance companies, founded as a public limited company on September 28, 1960, and listed on the Pakistan Stock Exchange Limited. AICL has the distinct benefit of having a regional presence in the United Arab Emirates (UAE) and maintains its position via steadfast adherence to its corporate philosophy. AICL gains a competitive edge by having the most paid-up capital and reserves, as well as a highly-diversified business portfolio.

1. Briefs – Adamjee Insurance Company Limited (AICL)

1.1 Products and Services

Adamjee Insurance provides people, organisations, and industries with a comprehensive range of insurance products and services. Motor insurance, fire insurance, marine insurance, health insurance, travel insurance, property insurance, liability insurance, and other services are available. They also offer specialist insurance solutions in industries such as aviation, energy, engineering, and agriculture.

1.2 Network

Adamjee Insurance has a large network of branches throughout Pakistan, making its services available to consumers in a variety of cities and towns. They also have a major worldwide footprint through their reinsurance business.

1.3 Customer Focus

The organization prioritizes customer happiness and attempts to give clients with timely and efficient service. They offer a specialized customer care staff that handles questions, claims, and policy issues.

1.4 Financial Strength

Adamjee Insurance Company Ltd. has consistently maintained a healthy financial position. In the insurance sector, they have constantly proven consistency and dependability, which has led to their development and success.

1.5 Industry Recognition

For its performance and service quality, the organisation has garnered various honors and distinctions. These honors demonstrate their dedication to quality and expertise in the insurance sector.

2. Details – Adamjee Insurance Company Limited

2.1 Vision Statement – Adamjee Insurance Company Limited

To be the most trusted insurance partner.

Vision Statement – Adamjee Insurance Company Limited

2.2 Mission Statement – Adamjee Insurance Company Limited

Adhere to exemplary sales practices, best in class product packaging and customer engagement.

Mission Statement – Adamjee Insurance Company Limited

2.3 Values – Adamjee Insurance Company Limited

1. Value Creation: Create value in everything we do

2. Openness: Foster a culture of trust and transparency

3. Respect: Promote mutual respect and inclusiveness

4. Customer Focus: Always keep customer’s interest in mind

Values – Adamjee Insurance Company Limited

3. Intro Video – Adamjee Life Insurance Company Limited

4. Type of Insurances – Adamjee Life Insurance Company Limited

Adamjee Insurance insures the following types of business:

4.1 Engineering Insurance – Adamjee Insurance Company Limited

The Type and Subtype of Engineering insurance are as follows:

4.2 Fire & Property Insurance – Adamjee Insurance Company Limited

A fire insurance policy compensates the insured individual or organization for damage to the insured property (i.e. buildings, stock, machinery, and other goods) caused by fire or lightning.

4.2.1 Coverage

The insurance coverage covers damages caused by;

1. Fire
2. Lightning
3. Explosion (due to domestic boiler only).

4.2.2 Additional Covers

Additional covers include;

1. Riot and Strike
2. Malicious Damage
3. Explosion
4. Atmospheric Disturbance (Flood, inundation, etc.)
5. Earthquake
6. Fire & Shock
7. Aircraft Damage
8. Impact Damage
9. Burglary and Housebreaking
10. Electrical Clause “B”
11. Removal of Debris and Loss of Rent

4.2.3 Other Products Available

1. Property All Risks
2. Comprehensive Machinery Insurance
3. Consequential Loss due to Fire / Business Interruption
4. Terrorism
5. Hotel Owner’s All Risk Insurance
6. Home Insurance
7. Shop Owner’s Comprehensive Insurance

5. Health Insurance – Adamjee Insurance Company Limited

Adamjee Insurance is one of the top Health Insurance providers, serving to the health and medical needs of corporate and SME employees through tailored benefit structures and value-added services.

We promise the highest quality services, which not only provide you piece of mind since you are covered by a reputable and reputable insurer, but also assures quick and easy access to medical treatments when the need arises. We provide personalized health insurance policies to meet your specific requirements.

5.1 Benefits & Coverages

1. Hospitalization Benefit
2. Major Medical Benefit (Optional)
3. Maternity Coverage (Optional)
4. Out Patient Coverage (Optional)

5.2 Additional Benefits

1. Terrorism Cover i.e., insured is injured due to terrorist attack.
2. International Cover** (subjected to additional terms)
3. Complimentary Accidental Coverage** (Coverage limits may vary)

6. Marine Insurance – Adamjee Insurance Company Limited

Marine insurance covers damage to the vessel’s hull and machinery, goods carried on board, and liability protection for shipping and transportation businesses.

1. Marine Hull and Machinery Insurance
2. Marine Cargo Insurance
3. Marine Umbrella Liability Insurance

6.1 Marine Hull & Machinery Insurance – Adamjee Insurance Company Limited

This coverage covers losses or damages to the vessel’s hull and machinery caused by marine dangers.

6.1.1 Benefits and Coverage

This insurance coverage protects you against the following hazards, losses, and damages: Sea, river, lake, or other navigable water hazards There was a fire and an explosion. Violent stealing by strangers: Whether it’s abandonment or piracy, Earthquake, volcanic eruption, or lightning, contact with a land conveyance, port or harbor equipment or facility, Accidents when loading, unloading, or changing goods or fuel Bursting boilers, shaft breakage, or any latent flaw in the machinery or hull Negligence of the Master Officers, Crew, or Pilots, Negligence of the repairers or charter, Master Officer or crew barratry When the general average is proclaimed, contact with aircrafts, helicopters, or similar items, or things falling from them, is prohibited, and fines are levied.

6.2 Marine Cargo – Adamjee Insurance Company Limited

Marine Cargo handles losses and damages resulting from cargo/freight transported by vessels. According on the demands of our valued clients, we provide policies that cover all risks as well as policies that cover only a subset of risks.

6.2.1 Benefits and Coverage

Depending on the kind of coverage requested by our customers, our maritime cargo insurance covers a variety of hazards. The insurance includes coverage for “All Risk” cargo loss and damage caused by an unforeseen event during transportation by sea, air, road, and train. Other than All Risk, limited coverage is available based on customer needs for travel by sea, air, road, and train.

6.3 Marine Umbrella – Adamjee Insurance Company Limited

Marine Cargo handles losses and damages resulting from cargo/freight transported by vessels. According on the demands of our valued clients, we provide policies that cover all risks as well as policies that cover only a subset of risks.

6.3.1 Benefits and Coverage

Ship or vessel operators, freight forwarders, road transport operators, NVOC, railway operators, air carriers, warehouse depot operators, ship agents, brokers, and the services associated with shipping transportation, terminal operators, stevedores operators, container/trailer operators, storage and repairers, and port harbours or port authorities could all benefit significantly from this insurance.

7. Motor Insurance – Adamjee Insurance Company Limited

The Motor Vehicle Act makes it obligatory to have a motor insurance coverage. Owing Adamjee Insurance Company Limited Motor Insurance protects the vehicle owner from financial damages due by vehicle damage or theft, as well as third-party responsibility.

7.1 For Individuals – Retail Auto Insurance

Adamjee Insurance pioneered Online Policy Issuing in 2008 in collaboration with Pak Suzuki, the top manufacturer in the auto sector. This launch was conducted throughout Pakistan. Since then, the partnership has gained and grown significantly. The “Suzuki Insurance” Program is now operational.

Toyota and Honda have introduced retail insurance. To provide its consumers with a comprehensive bundle of “Insurance plus Tracker,” the retail department formed relationships with Car Tracking Companies. The department’s target market is solely retail consumers who purchase automobiles from 3S Approved Dealerships.

8. Travel Insurance – Adamjee Insurance Company Limited

8.1 Go Secure – Travel Insurance

GoSecure is designed to meet your travel demands and make your journey stress-free in the case of an unanticipated catastrophe. It provides you with unrivalled coverage against travel disruptions whether you are travelling for business or pleasure. Being a partner of the world-renowned International SOS, we are only a phone call away from assisting you in obtaining health care services at your location.

Besides from medical aid, our customer care services excel at delivering concierge, travel, financial emergency, and a wide range of hotline services, as well as the option of direct payment of medical claims in Schengen States.

8.2 Benefits

1. Emergency Medical Expenses Benefit
2. Personal Accident Benefit
3. Travel Inconvenience Benefit
4. 24/7 International SOS. Hotline Number: 00971 4601 8823

8.3 Salient Features

1. All Schengen insurance policies cover an amount of 30,000 Euro for medical, hospitalization & repatriation costs during any single trip into the Schengen states.
2. Direct settlement of hospitalization medical claims in Schengen States.

9. Agriculture Insurance – Adamjee Insurance Company Limited

9.1 Crop Insurance

Because Pakistan’s agriculture industry is the largest yet remains largely uninsured, Adamjee Insurance took the initiative to establish the concept of Crop Insurance. Farmers rely heavily on the interval between crop sowing and harvesting. Agriculture is constantly threatened by floods, droughts, rain, and hail storms.

Farmer’s assets are secured, brings stability to farmer’s income, In case of crop damage, insurance company covers loan taken from bank, Farmers get financial aid for re-cropping, Gives a secured and peaceful life.

9.2 Benefits and Coverage

The scheme shall cover the production loans provided by the Banks to the farmers. Under this policy is against unavoidable loss of crops or resulting directly from Flood, Drought, Excessive rain, Hailstorm, Frost, Locust attack, Disease and Insect attack.

10. Livestock Insurance – Adamjee Insurance Company Limited

Pakistan has an agricultural economy, with cattle accounting for more than half of the total. Adamjee Insurance Company has introduced Livestock Insurance to fulfil the expanding demands of our farmers.

Livestock Protection, Payment to the owner in the event of livestock mortality, in accordance with policy requirements Advice in the event that your cattle becomes unwell, Modern cattle care procedures and veterinary specialists with advanced training.

10.1 Benefits and Coverage

The primary goal of Adamjee Livestock Insurance is to give peace of mind and secure livestock demands. The policy offers coverage for livestock deaths caused by natural causes, sickness, injury, or accident. Specialist doctors have been tasked with supplying farmers with the most up-to-date farming methods and practises.

11. Miscellaneous Insurance – Adamjee Insurance Company Limited

Miscellaneous class of company provides a variety of insurance products such as public liability, group health, personal accident, employer liabilities, insurance to financial institutions, aviation sector, and many more.

The range of miscellaneous product is:

1. Group Health Insurance
2. Personal Accident Insurance
3. Bankers Blanket Bond
4. Plastic Card Insurance
5. Public Liability Insurance
6. Professional Indemnity Insurance
7. Event Insurance
8. Workmen’s Compensation
9. Employers Liability Insurance
10. Aviation Hull and Liability Insurance

12. Financial Lines Insurance – Adamjee Insurance Company Limited

Financial Lines insurance protects financial institutions against infidelity, professional indemnity, and liability for directors and officers.

12.1 Bankers Blanket Bond

The Banker’s Blanket Bond is a “blanket cover” protecting financial institute in question against variety of different perils:

Infidelity of Employees: financial loss due to dishonest or fraudulent acts of employees, On Premises: Loss of property resulting from theft, burglary etc., In Transit: Loss or damage to property whilst in transit anywhere in Pakistan in the custody of employees, Forged cheques, Counterfeited currency, Damage to office and contents arising from burglary, theft, hold-up and other criminal act and Securities.

12.2 Salient Features

Easy to administer, Electronic & Computer Crime liability can be included in the cover if required and Claims made policy.

12.3 Main Exclusions

Infidelity of directors, contractual employees / armed guards, Errors & omissions on part of employee(s), Losses due to terrorism, Losses due to fire and allied perils, Areas of insurgency, hostilities, rebellion, insurrection, civil war, war (whether declared or undeclared) and / or warlike situations.

12.4 Other Products Available

• Plastic Card Insurance
• Foreign Exchange Dealers Policy
• Directors & Officers Liability
• Safe Deposit Box / Lockers Insurance
• Electronic & Computer Crime Insurance

13. Liability Lines Insurance – Adamjee Insurance Company Limited

13.1 Workmen Compensation/Employer Liability Insurance

This insurance covers employers for any legal liability arising out of and in the course of work under the Workmen’s Compensation Act, the Fatal Accident Act, or at common law.

13.2 Public Liability Insurance/Third party Liability Insurance

This insurance offers coverage against legal responsibility to pay for death, physical injury, and/or direct property damage caused by an accident.

13.3 Products Liability Policy

Adamjee Insurance provides a legal liability coverage that compensates the insured for his legal obligation for third-party disease, injury, loss, and damage caused by anything dangerous or faulty in items supplied by the insured. This approach is best suited to consumer products manufacturers.

14. Personal Accident Insurance – Adamjee Insurance Company Limited

This coverage is available 24 hours a day, seven days a week. It provides for the payment of specific capital benefits in the event of an accident-caused death, physical injury, permanent entire disablement, permanent partial disablement, temporary total and temporary partial disablement.

This coverage is available 24 hours a day, seven days a week. It provides for the payment of specific capital benefits in the event of an accident-caused death, physical injury, permanent entire disablement, permanent partial disablement, temporary total and temporary partial disablement.

Furthermore, the coverage includes compensation for emergency transportation to the nearest hospital as well as expenditures paid for preparing and transporting the insured person’s mortal remains from the place of death to home, and it can be expanded to include medical expenses.

5. Required Documents – Adamjee Insurance Company Limited

5.1 Required Documents – Health Insurance

1. Original hospital bill with type of accommodation (room type) and break-up of total bill
2. Room charges
3. Lab tests and Radiology charges
4. Consultation charges
5. Anesthesia charges (if any)
6. Surgeon fee with details (if any)
7. Operation Theatre charges (if any)
8. Medicines (used during hospitalization)
9. Other miscellaneous medical expenses like oxygen, blood, etc.
10. Laboratory or Radiology reports along with doctor’s advice
11. Proper itemized bill(s) and payment receipt(s) of the hospitalization
12. Proper itemized bill of the medicines purchased, supported by the physician’s prescription
13. Hospital discharge/clinical summary (in case of hospitalization)
14. Copy of birth certificate(s) in case of child birth

5.2 Required Documents – Go Secure – Travel Insurance

1. Original Policy Certificate
2. Original Endorsement (if any)
3. Passport Copy with FIA stamps on exit from Pakistan and entry in insured destination
4. Air Tickets and Boarding Passes (optional)
5. Others – Any document required by AICL

6. Branches – Adamjee Insurance Company Limited

1. Adamjee Insurance – I.I. Chundrigar Road Branch Karachi
2. Adamjee Insurance – Islamabad Branch
3. Adamjee Insurance – Abbottabad Branch
4. Adamjee Insurance – Bahawalpur Branch
5. Adamjee Insurance – Dera Ghazi Khan Branch
6. Adamjee Insurance – Gujrat Branch
7. Adamjee Insurance – Gulberg-III Branch Lahore
8. Adamjee Insurance – Khanewal Branch
9. Adamjee Insurance – Kasur Branch
10. Adamjee Insurance – Hyderabad Branch

7. Board of Directors – Adamjee Insurance Company Limited

Board of Directors has elected in Extra Ordinary General Meeting – EOGM of the Company on May 27, 2022

8. Associated Clients – Adamjee Insurance Company Limited

1. HSBC Middle East Bank Limited
2. Soneri Bank Limited
3. Standard Chartered Bank Limited
4. Tameer Micro Finance Bank Limited
5. United Bank Limited
6. Askari Bank Limited
7. Bank Alfalah Limited
8. Bank Al-Habib Limited
9. Barclays Bank PLC, Pakistan

9. Online Helpline – Adamjee Insurance Company Limited

• UAN Number: 0800 00 242
• Email Address: info@adamjeeinsurance.com
• Address: Adamjee House P.O. Box No. 4850 I.I. Chundrigar Road, Karachi-74000, Pakistan
• Hotline Numbers: +92 213 2412623

9.1 Complains – Adamjee Insurance Company Limited

9.1.1 English Version

https://www.adamjeeinsurance.com/pak/investors/downloads/complaints_resolution_forum/complaints_resolution_forum_eng.pdf

9.1.2 Urdu Version

https://www.adamjeeinsurance.com/pak/investors/downloads/complaints_resolution_forum/complaints_resolution_forum_urdu.pdf

9.2 Claims – Adamjee Insurance Company Limited

Visit the following website for all types of claim forms:

https://www.adamjeeinsurance.com/pak/download_center.php

10. Verification – Adamjee Insurance Company Limited

Company is verified from:

https://jamapunji.pk/verify/listed-company/adamjee-insurance-co-limited

11. Disclaimer – Adamjee Insurance Company Limited

• If the Adamjee Insurance Company have not resolved your concern satisfactorily, you may file a complaint with the Securities and Exchange Commission of Pakistan (SECP).
• Please keep in mind that SECP will only consider complaints that were initially asked to be resolved directly by the firm and were not resolved.

If you liked this article, then please do share it on the Social Media. If you have a question or suggestion? Then you may leave a comment below to start the discussion.