The Motor OD premium has grown at a CAGR of 8.58% over the period 2018-19 to 2019-20.

Chart 4.3.1GDPI - Motor Own Damage Insurance

Table 4.3.1Motor OD

2019-20 Value
No. Of Policies 889,18,806
Premium (in Cr) 26,524
No. Of Claims Reported 86,48,518
No. Of Paid Claims 80,72,059
Amt of Paid Claims(in Cr) 20,552
Premium booked in India considered

Source: Source: Council Compilation as per source
data submitted by companies

The Gross Incurred Claims Ratio for Motor Own damage segment has been in the range of 53% – 78% over the period 2010-11 to 2019-20. Gross Incurred Claims increased by approximately 7% as compared to 2018-19.

Chart 4.3.2Gross & Net Incurred Claims Ratio - Motor Own Damage

Source: Council Compilation as per source
data submitted by companies

Chart 4.3.3Rural vs Urban Premium - Motor OD

Chart 4.3.4Channelwise GDPI - Motor OD

Source: Council Compilation as per source
data submitted by companies

Chart 4.3.5GDPI Breakup on Categories - Motor OD

Chart 4.3.6Policies Breakup on Categories - Motor OD

Source: Council Compilation as per source
data submitted by companies

Chart 4.3.7Share of Incurred Claims - Motor OD (Amount)

Chart 4.3.8Share of Incurred Claims - Motor OD (Number)

Source: Council Compilation as per source
data submitted by companies