IFFCO-Tokio General Insurance (ITGI) was incorporated on 4th December 2000 with a vision of being industry leader by building customer satisfaction through fairness, transparency, and quick response.It is a joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group, the largest listed insurance group in Japan.
It is a customer-centric company aiming to be easily accessible and approachable to all sections of society. Tokio has always succeeded in creating bench marks in insurance sector. They have shown remarkable performance in a short period and their prospects of future growth is very bright.
It has 273 employees present in 68 cities, dedicated to give full satisfaction to the customers. It is the first company to underwrite mega policies for a fertilizer and automobile client.
IFFCO TOKIO has been the pioneer in underwriting mega policies for fertilizer as well as automobile company in India. It gets the technical support from Tokio Marine from reinsurance and underwriting. It also gets assistance from Tokio Risk Consulting (TRC) on Risk Management. IFFCO TOKIO General Insurance has also crafted its name in various products like Credit Insurance, P&I Insurance, Fine Arts Insurance and Errors and Omissions Policy for IT Sector.
Indian Farmers Fertilizer Co-operative (IFFCO) During the 1960s the cooperative sector in India was responsible for the distribution of 70 per cent of the fertilisers consumed in the country. This sector had adequate infrastructure to distribute fertilisers but had no production facilities of its own and hence was dependent on public/private sectors for supplies. To overcome this difficulty and to bridge the demand supply gap in the country, a new cooperative society was conceived to specifically cater to the needs of farmers. It was a unique venture in which the farmers of the country through their own cooperative societies created this new institution to safeguard their interests. Tokio Marine and Nichido Fire Group Tokio Marine, a company with a history of 125 years, and Nichido Fire, which had a 90-year history, merged in October 2004 to create Tokio Marine & Nichido. The new company began as Japan’s largest property and casualty insurer, with a big lead over all competitors.
IFFCO TOKIO is also the sole Indian insurance company to have fully-owned distribution channel (IFFCO-TOKIO Insurance Services Ltd.) for serving retail customers. Established on August 1, 2003, it has a workforce of more than 1000 employees spread over 200 towns across India. Currently ITIS has over 90 ‘Lateral Spread Centres’ (LSC) as well as 140 ‘Bima Kendras’ (BK). More than 1500 employees work for ITIS.