Over a 10-year period, the number of policy related complaints has reduced significantly, with the ratio (policy related complaints/policies issued) being approximately 1 in 450 in 2009-10, and approximately 1 in 4000 in 2020-21
With respect to Class wise complaints:
The Motor Segment has shown a commendable growth in the maturity of Products sold, with a decrease of 13.1 % in the number of reported complaints, compounded annually, while continuing growth in sales
Trends in the Health Segment also exhibit similar behaviour, with continued growth in sales and a stabilisation in the number of complaints reported annually
Across the major segments of Motor & Health, the distribution of Complaint Classes has a similar profile, with the prominent ones being Claim Related (~60%) and Policy Related (~20%)
