The ET NOW Insurance Awards 2024!

Overview of the Award

The ET Now Insurance Awards, in-partnership with our Knowledge partner ‘PwC India’, is a premier recognition platform that celebrates excellence, innovation, and leadership in the insurance sector. Designed to honor outstanding achievements, the awards recognize organizations, and initiatives that have significantly contributed to the growth and transformation of the industry.

More than just an awards ceremony, this event is a celebration of the transformative power of insurance in building a resilient and inclusive economy. By recognizing outstanding contributions, the ET Now Insurance Awards aims to elevate the industry’s standards and align its progress with India’s vision of achieving universal insurance coverage by 2047.

The evaluation process for the ET Now Insurance Awards is a comprehensive and transparent approach that identifies and recognizes the most deserving companies. It follows a structured multi-step process:

Companies are identified across award categories based on their business performance and eligibility criteria.
Performance data is analyzed from public disclosures, IRDAI, Life Insurance Council, and General Insurance Council records.
Key numbers are sourced primarily from public disclosure reports available on company websites and the IRDAI website.
Companies are assessed on parameters such as:
Each award category includes 3-6 parameters scored individually with assigned weightages to calculate an indexed score.
The top three companies in each category are shortlisted based on the indexed scores.
The shortlisted results are reviewed by a distinguished jury, and winners are decided through detailed discussions and unanimous concurrence among jury members.
Winners will be honored during the Awards Ceremony on December 19, 2024, at the ET Now Insurance Summit at Taj Santacruz, Mumbai.
  • Smart Insurer

    Awarded to an insurer demonstrating excellence in maintaining robust business and financial parameters with a smart and strategic approach.

  • Amiable Insurer

    Recognizes insurers with outstanding customer experience and a strong focus on customer orientation.

  • Sales Champion

    Honors an insurer with the ability to cater to market demands through diversified products and a strong market presence.

  • Prompt Insurer

    Acknowledges an insurer with the quickest claim settlement processes, ensuring swift and effective service for policyholders.

To qualify for the awards, companies must meet the following conditions:

Company Should be in Business for at least 3 years
Company Large Sized Compact
Life
>=8,000Cr (New Business Premium)
<8,000Cr (New Business Premium)
Non-Life
>=10,000Cr (Gross Written Premium)
<10,000Cr (Gross Written Premium)

The Event is organised by Times Strategic Solutions Ltd., (“Organiser”) along with PwC (“Knowledge Partner”).

a) Organiser and Knowledge Partner will not be a part of the decision-making process during Jury meetings.

b) Jury Member shall decide on evaluation/disqualification/qualification for all Nominees.

c) If jury member/s are from the same organization that of the Nominee, then that specific entry will not be evaluated by those jury members but will be assessed by remaining panel of Jury.

d) The decision of the Jury shall be final, non-contestable and binding on all participants. The Awards management will not entertain any queries in this regard.

e) Organiser shall not be liable for any loss or damage that a nominee, awardee or any 3rd party may suffer as a result of attending the Award or Awards being withdrawn. Nominees and Winners agree that they shall hold harmless the Organiser, its employees, officers or representatives and shall defend them against any loss, claim, demands, costs, damages, judgments, expenses or liability arising out of or in connection with any claims in connection with participation or winning the Award.

f) Organiser cannot and shall not be accountable / liable for any disruptions / stoppages / interruptions or cancellation of the Awards due to any force majeure reasons.

g) The decision of Organiser in relation to the interpretation of any of these Terms shall be final and binding on the Nominee.

h) Advertisement by Awardee should be only for the category in which they have received the award and not for some other category. Awardee may promote receipt of Award subject to compliance with ASCI guidelines and other applicable laws.

i) All disputes relating to or arising out of the Awards / nominations shall be subject to the laws of India and exclusive jurisdiction of the courts at Mumbai, India.

For any queries or experience difficulties of any kind, nominees can write to et.edge@timesgroup.com.

Jury

BD Banerjee

BD Banerjee

Ex-MD of GIC India and CMD of Oriental Insurance and National Insurance (addl charge) and Insurance Ombudsman, Mumbai

G-Srinivasan

G-Srinivasan

MD & CEO of Galaxy Health Insurance, Ex-CMD of New India Assurance and United India Assurance

Sudhin Roy Chowdhury

Sudhin Roy Chowdhury

Ex - Member (Life), IRDAI

tl-alamelu

TL Alamelu

Principal Advisor, International Financial Services Centres Authority Ex - Member(Non-Life), IRDAI