International General Insurance Company Limited, Pakistan – Details

Syed Maratab Ali was the first Chairman of IGI Insurance when it was founded in 1953. In December 1987, IGI, the main organization of Packages Group, was listed on the Karachi and Lahore Stock Exchanges. Fire, marine, automobile, travel, health, house, and miscellaneous insurance are all underwritten by the company.

1. Introduction – International General Insurance Company, Pakistan

IGI Insurance has built a solid commercial foundation in Pakistan’s non-life insurance market over the last 50 years via well-governed operations and the highest ethical and moral principles.

Currently, IGI Insurance is one of Pakistan’s largest listed insurance firms, offering complete risk management services to a number of prestigious local and global corporations through a network of branches across Pakistan. IGI Insurance can offer a diverse basket of products to its clients since it has some of the most famous international reinsurers with the top ratings in their respective sectors.

In 2004, IGI Insurance bought the Pakistan operations of Royal and Sun Alliance Plc. UK, in accordance with the Company’s expansion plan. As a result of this transaction, IGI Insurance has risen to the ranks of the top five insurance firms in Pakistan. Royal and Sun Alliance Plc.UK has appointed the firm as a worldwide network partner.

IGI General Insurance Limited is the Packages Group’s flagship company. We are headquartered in Karachi and have offices in 9 places around the country to serve consumers with timely services. PACRA has granted us an “AA” IFS grade for 9 consecutive years, confirming our financial strength and stability.

We have strong reinsurance contracts with “A” rated international reinsurers and offer a comprehensive variety of general insurance products such as fire, motor, marine, travel, health, personal accident, home, and miscellaneous insurance.

IGI is proud to have long-term business relationships with top local and worldwide corporations. IGI FSI is a subsidiary of IGI General Insurance and a member of the Packages Group. The subsidiary is a pioneer in new technology-driven sales, manufacturing, and customer service initiatives, as well as HR and technical solutions.

2. Details – International General Insurance Company, Pakistan

2.1 Vision Statement – International General Insurance Company, Pakistan

IGI General Insurance is committed to being one of the leading providers of solutions to risk exposures in selected market segments in Pakistan.

Vision Statement – International General Insurance Company, Pakistan

2.2 Mission Statement – International General Insurance Company, Pakistan

Our vision will be realized through:

2.2.1 Customers

Being the preferred insurer in providing solutions to risk exposure.

2.2.2 Shareholders

Consistently delivering above market average return on capital.

2.2.3 Employees

Providing the environment necessary to be employer of choice.

2.2.4 Community

Compliance with the highest ethical and moral standards.

2.3 Core Values – International General Insurance Company, Pakistan

• Care
• Fairness and consideration are integral to our culture.
• Respect
• We treat people with respect and dignity.
• Lead
• We aspire to lead in everything that we do.
• Honesty

3. Types of Insurances – International General Insurance Company, Pakistan

Types of insurances provided by International General Insurance are:

3.1 IGI Drive – International General Insurance Company, Pakistan

In Pakistan, IGI Drive, a subsidiary of IGI General Insurance Limited, provides Vehicle Tracking and Fleet Management services. They provide real-time analytics, warnings, and notifications for vehicle welfare and safety by utilizing sophisticated GPS and GSM data services.

IGI Drive offers Tracking services in three tiers keeping in view needs of its customers:

1. IGI Eco Drive
2. IGI Smart Drive
3. IGI Pro Drive

3.2 Home Insurance – International General Insurance Company, Pakistan

Home Cover is a low-cost home insurance policy from a reputable business that provides full coverage against unintentional damage caused by robbery, fire, accidents, or natural catastrophes. It provides peace of mind when it is most required by covering property, possessions, jeweler, free rent, cash, and other value-added services at discounted prices.

Home Content plan offers customers coverage of home contents against the following perils:

• Fire, Lightening or Explosion
  • Aircraft & other Aerial devices
  • Earthquake, Storm, Tempest & Flood
  • Bursting or overflowing of water tanks
  • Impact by any Vehicle
  • Riot & Strike
  • Malicious Act
  • Burglary, House Breaking including Dacoity
  • Impact of tree falling

Additionally, IGI provides various free extensions which accompany the basic contents cover:

• Loss of Money (Forcible entry/exit)
  • Replacement & Installation of locks following break in
  • Accidental Breakage to fixed glass and glass top of furniture
  • Damage to contents by professional packers during household removal

3.3 Travel Insurance – International General Insurance Company, Pakistan

Travel Sure offers an enhanced policy covering up to $100,000 for medical expenses abroad, including hospitalization and out-patient treatment. This tailored travel plan ensures stress-free travel and prompt emergency care. In collaboration with International SOS, they provide international healthcare services via a dedicated call-collect number. Sign up for free assistance services.

• Telephone Medical Advice
• Medical Service Provider Referral
• Arrangement of Hospital Admission
• Worldwide Consulate and Embassy Referrals
• Medical Translation Services
• Delivery of Essential Medicine
• Arrangement of Emergency Medical Evacuation and Repatriation
• Arrangement of Compassionate visit
• Arrangement of Return of Minor Children
• Arrangement of Accommodation
• Interpreter Referral
• Lost Luggage and Passport Assistance
• Legal Referrals
• Emergency Travel Service Assistance
• Emergency Document Delivery

3.4 Auto Insurance – International General Insurance Company, Pakistan

IGI Car Cover is a comprehensive auto insurance plan for both individuals and corporations that protects your vehicle against the possibility of theft.

• Accidental damage
• Fire, external self-ignition or lightening or frost
• Burglary, house-breaking, or theft
• Malicious act
• Riot & strike
• Flood, hail, wind, hurricane, cyclone, tornado or typhoon
• Earthquake, volcanic eruption or other convulsion of nature
• Whilst in transit by air, road, rail, inland waterway, lift or elevator
• Third party legal liability
• Terrorism

3.5 Health Insurance – International General Insurance Company, Pakistan

Personal, hospitalization, and maternity insurance, pre- and post-hospitalization charges, credit facilities, health cards, discounts, and a 24-hour medical helpline are all available through Health Sure’s managed care solution for corporate clients and organizations.

• Coverage extended to: Working employees & their dependent spouses & children

• Age limits: For employees & their spouses up to 65 years of age; unmarried/ unemployed daughters; sons up to 25 years age if unemployed; divorced / separated / widowed daughters dependent on the employees without any age limit.

• Health declaration: Each insured employee must complete a health questionnaire form, for underwriting purposes.

3.6 Fire Insurance – International General Insurance Company, Pakistan

The standard fire policy covers accidental fire losses, with extra coverage for riots, strikes, and atmospheric disturbances. Property insurance estimates may be customized to include fire, lightning, burglary, and earthquake coverage.

3.7 Marine Insurance – International General Insurance Company, Pakistan

Marine Cargo Transit plans cover both domestic and international transit hazards, including air, sea, and post. They encompass imports, exports, cargo loss, and completed products dispatch. Transport-related firms such as ship brokers, freight forwarders, terminal operators, and courier services are covered by this insurance. Adjusters are proficient in dealing with minor casualties and resolving policy disputes.

3.8 Miscellaneous Insurance – International General Insurance Company, Pakistan

Pecuniary and miscellaneous insurance plans cover a wide range of industrial hazards, including business interruption, contractors, computer data loss, and machinery construction. Individuals are covered by personal accident insurance if they are killed or injured in an accident. Quotes are available under the miscellaneous insurance category.

3.9 Livestock insurance – International General Insurance Company, Pakistan

Animal insurance protects against losses caused by animal mortality or injury, including accidents, natural disasters, and thefts. Farmers make significant investments in livestock, and obtaining insurance protects them from financial difficulty due to animal mortality.

3.9.1 Eligibility

All farmers receiving livestock loan from banks are eligible to buy this insurance. All livestock will be covered for which the bank is advancing loan to its borrowers.

3.9.2 Perils Covered

The policy covers a loss to livestock due to the following:

• Death due to disease
• Death due to flood, heavy rains, windstorm (acts of God)
• Accidental death

3.9.3 General Exclusions

The insurance does not cover.

• Pre-existing diseases or injuries
• Theft (negotiable)
• Transport by land beyond 25 km (s) from the place of stabling or transport by air or sea.
• Any government order of killing of an animal as a result of pestilent
• Injury because of negligence of the insured in taking good care of the insured animals
• Riot, strike & civil commotion.

3.10 Crop Insurance – International General Insurance Company, Pakistan

Crop insurance is an essential component of Pakistan’s agricultural business and a critical risk management tool for the contemporary farmer. The Crop Insurance Company undertakes to compensate the insured (farmer, rancher, or grower) for crop-year losses. Losses must be caused by unavoidable or uncontrollable risks, such as drought, flood, or illness.

3.10.1 Eligibility

• All farmers receiving agricultural loan from banks are eligible to buy this insurance.

3.10.2 Types of crops covered

The crops covered under igi’s crop insurance program are wheat, rice, maize, cotton and sugarcane.

3.10.3 Perils covered

The policy covers a loss to crops due to the following:

• Natural calamities: excessive rain, hail, frost, snowfall, windstorm, flood and drought
• Crop related diseases, viral and bacterial attack.
• Locust attack or insect attack

3.10.4 General exclusions

The insurance does not cover.

• Loss due to theft, malicious act or due to reasons and risks not specifically covered by the policy
• Loss or damage to crop occasioned by its fermentation, natural heating or spontaneous combustion or by its undergoing heating or drying process.
• Loss or damage occasioned by or through or consequent upon the burning of crop, fire of any nature, earthquake, volcanic eruption or other convulsion of nature, subsidence or heave, landslide and erosion.
• Losses due to avoidable causes such as neglect or malfeasance of the insured.
• War invasion, riot, strike and terrorism.
• Price fluctuations

4. Required Documents – International General Insurance Company, Pakistan

4.1 For Travel Insurance

• Original passport has to be verified by authorized personnel of IGI General Insurance Limited.
• Photocopy of passport and CNIC of the policyholder.

4.2 For Health Insurance

• Original bill receipts
• Copies of lab reports (if performed)
• Copy of discharge card along with a proper signed & stamped claim form
• Professional Entertainers

5. Branches – International General Insurance Company, Pakistan

Main branches of International General Insurance are:

International general Insurance have branches in

• Islamabad
• Sialkot
• Rahimyar Khan
• Peshawar
• Gujranwala

6. Board of Directors – International General Insurance Company, Pakistan

Board of Directors are

7. Clients – International General Insurance Company, Pakistan

Many companies are associated with the International General Insurance. Some of them are mentioned below

1. Pharmaceuticals Abbot Lab
2. Logistics Agility Logistics
3. Distribution Ali Gohar & Company
4. Capital Marketing Services
5. Consumer Goods Colgate
6. Travel Etihad Airways
7. Ghee Kausar Ghee
8. Construction Lucky Cement
9. Electronics Engineering Pak Elektron
10. Electronics Engineering Philips

8. Online Helpline – International General Insurance Company, Pakistan

• +(92)-042-111-308-308
• +(92)-021-111-308-308
• +(92)-051-111-308-308
• Email: contact.center@igi.com.pk
• Complaints: complaints@igi.com.pk
• Claim: https://igiinsurance.com.pk/?page_id=1125

9. Verification – International General Insurance Company, Pakistan

Company is verified from

https://jamapunji.pk/cverify/licensed-entity-detail/igi-general-insurance-limited

10. Disclaimer – International General Insurance Company, Pakistan

• If the International General Insurance Company of Pakistan 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.
• Furthermore, complaints that are not related to the SECP’s regulatory domain/competence will not be considered.Bottom of Form.

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