2 weeks ago
Oriental Insurance Plans ₹500 Crore Digital Investment Over Three Years
Oriental Insurance Company wants to spend about ₹500 crore to improve its digital services.
The investment will happen over the next three years.
The company is building a data lake to store and manage information.
It also wants to make its data security stronger.
Customers may soon get more insurance products and easier online services.
A new digital process already helps customers submit Motor Own Damage claims online.
Oriental DigiBiz lets people buy insurance directly from the company’s website.
The insurer said its premiums crossed ₹20,000 crore in the year ending March 2026.
Oriental Insurance Company plans to invest around ₹500 crore in digital capabilities over the next three years.
The insurer is developing a data lake, strengthening data security, and preparing additional digital products.
Its end-to-end digital process for Motor Own Damage claims aims to make settlements faster and more transparent.
Oriental DigiBiz allows customers to purchase insurance directly online without intermediary intervention and offers eligible customers discounts.
Gross premiums exceeded ₹20,000 crore in the financial year ended March 2026, driven by health, fire, motor, and group personal accident insurance.
- Who
- Oriental Insurance Company, led by Chairman and Managing Director Sanjay Joshi.
- What
- The insurer plans to invest around ₹500 crore in digital capabilities and customer-focused services over three years.
- Where
- The initiatives will be implemented across Oriental Insurance Company’s digital and insurance operations.
- When
- The investment is planned for the three years following the announcement published on September 20, 2026; the company’s premium figure refers to the financial year ended March 2026.
- Why
- To strengthen technology, improve data security, expand digital products, and make insurance services and claims more convenient for customers.
Key facts
- Planned investment
- Around ₹500 crore over three years
- Key technology projects
- A data lake and stronger data security infrastructure
- Digital claims service
- End-to-end digital processing for Motor Own Damage claims
- Direct online channel
- Oriental DigiBiz enables direct insurance purchases without intermediary intervention
- Gross premium
- More than ₹20,000 crore for the financial year ended March 2026
- Growth portfolios
- Group Personal Accident, health, fire, and motor insurance
Quotes
Sanjay Joshi
Chairman and Managing Director of Oriental Insurance Company Ltd.
“The company recently launched its end-to-end digital journey for Motor Own Damage (OD) claims, aimed at making claims processing faster, more transparent and convenient for customers. We want to replicate this in other segments.”
thehindubusinessline.com
“For a technological boost, we have our own resources and have budgeted for it. We won't have any problem. The total expenditure would be around ₹500 crore over three years.”
thehindubusinessline.com
Sources
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