{"id":173,"date":"2019-07-23T07:51:59","date_gmt":"2019-07-23T07:51:59","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=173"},"modified":"2022-01-27T19:33:35","modified_gmt":"2022-01-27T19:33:35","slug":"claims","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/indian-non-life-insurance-industry-analysis\/section-03-industry-business-highlights\/claims\/","title":{"rendered":"3.7 &#8211; Claims"},"content":{"rendered":"\n<h4><strong>Gross Incurred Claims<\/strong><\/h4>\n\n\n\n<p><\/p>\n\n\n\n<p>Gross Incurred Claims has risen from \u20b954,201 Crores in 2011-12 to \u20b9148,032 Crores in 2020-21 at a CAGR of 11.81%<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.7.1<\/span>Gross Incurred Claims<\/h3><div id=\"Chart_36\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        stacked_column_chart(\"Chart_36\", {\"stacklabels\":true,\"data\":{\"General Insurers\":{\"2011-12\":49606,\"2012-13\":45662,\"2013-14\":58176,\"2014-15\":65415,\"2015-16\":72995,\"2016-17\":99735,\"2017-18\":110600,\"2018-19\":125054,\"2019-20\":135396,\"2020-21\":127124},\"Standalone Health Insurers\":{\"2011-12\":1311,\"2012-13\":930,\"2013-14\":1173,\"2014-15\":1505,\"2015-16\":2223,\"2016-17\":2889,\"2017-18\":4265,\"2018-19\":6070,\"2019-20\":8271,\"2020-21\":8697},\"Specialised Insurers\":{\"2011-12\":3284,\"2012-13\":4512,\"2013-14\":4738,\"2014-15\":5126,\"2015-16\":4038,\"2016-17\":9746,\"2017-18\":9843,\"2018-19\":7703,\"2019-20\":9071,\"2020-21\":12211}},\"Title\":\"Gross Incurred Claims\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"yAxisData\":{\"2011-12\":\"2011-12\",\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"colorCodes\":[\"#013F63\",\"#3BB0DB\",\"#99CD42\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p>As a percentage of Gross Direct Premium, the Industry Gross Incurred Claims ratio has been consistently between 70% and 90% since 2011-12.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.7.2<\/span>Gross Incurred Claims to GDPI Ratio - Overall<\/h3><div id=\"Chart_37\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_37\", {\"unit\":\"%\",\"data\":{\"GIC-GDP Ratio\":{\"2011-12\":\"90.6\",\"2012-13\":\"71.8\",\"2013-14\":\"80.2\",\"2014-15\":\"82.7\",\"2015-16\":\"79.8\",\"2016-17\":\"86.3\",\"2017-18\":\"81.3\",\"2018-19\":\"80.5\",\"2019-20\":\"79.5\",\"2020-21\":\"73.3\"}},\"Title\":\"Gross Incurred Claims to GDPI Ratio - Overall\",\"xTitle\":\"Year\",\"yTitle\":\"Gross Incurred Claims(%)\",\"yAxisData\":{\"2011-12\":\"2011-12\",\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"colorCodes\":[\"#BD245B\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p><\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.7.3<\/span>Gross Incurred Claims ratio - Overall (Split by Type of Insurers)<\/h3><div id=\"Chart_38\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_38\", {\"orientation\":\"false\",\"unit\":\"\",\"data\":{\"2019-20\":{\"General Insurers\":80.9,\"Standalone Health Insurers\":57.1,\"Specialised Insurers\":86.9,\"Overall\":79.5},\"2020-21\":{\"General Insurers\":73.4,\"Standalone Health Insurers\":55.2,\"Specialised Insurers\":93.11,\"Overall\":73.2}},\"Title\":\"Gross Incurred Claims ratio - Overall (Split by Type of Insurers)\",\"xTitle\":\"Type of Insurers\",\"yTitle\":\"GIC Ratio(%)\",\"yAxisData\":{\"General Insurers\":\"General Insurers\",\"Standalone Health Insurers\":\"Standalone Health Insurers\",\"Specialised Insurers\":\"Specialised Insurers\",\"Overall\":\"Overall\"},\"colorCodes\":[\"#D0332E\",\"#004668\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\">  <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<h4>Net Incurred Claims<\/h4>\n\n\n\n<p><\/p>\n\n\n\n<p>Net Incurred claims has risen from \u20b937,739 Crores in 2011-12 to \u20b9111,549 Crores in 2020-21, at a CAGR of 12.80%.<\/p>\n\n\n\n<p><\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.7.4<\/span>Net Incurred Claims - Overall<\/h3><div id=\"Chart_39\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        column_chart(\"Chart_39\", {\"unit\":\"(\\u20b9 in Crores)\",\"data\":{\"Total\":{\" 2011-12 \":37739,\" 2012-13 \":42550,\" 2013-14 \":49164,\" 2014-15 \":55232,\" 2015-16 \":64495,\" 2016-17 \":80662,\" 2017-18 \":85650,\"2018-19\":101051,\"2019-20\":108390,\"2020-21\":111549}},\"Title\":\"Net Incurred Claims - Overall\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"xAxisData\":{\" 2011-12 \":\" 2011-12 \",\" 2012-13 \":\" 2012-13 \",\" 2013-14 \":\" 2013-14 \",\" 2014-15 \":\" 2014-15 \",\" 2015-16 \":\" 2015-16 \",\" 2016-17 \":\" 2016-17 \",\" 2017-18 \":\" 2017-18 \",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"colorCodes\":[\"#d65c1d\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\">  <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p><\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.7.5<\/span>Gross Incurred Claims & Net Incurred Claims Ratios<\/h3><div id=\"Chart_40\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_40\", {\"unit\":\"%\",\"data\":{\"NIC Ratio\":{\"2011-12\":\"88.5\",\"2012-13\":\"83.1\",\"2013-14\":\"81.9\",\"2014-15\":\"81.9\",\"2015-16\":\"85\",\"2016-17\":\"90.9\",\"2017-18\":\"85.3\",\"2018-19\":\"89.2\",\"2019-20\":\"85.9\",\"2020-21\":\"81.1\"},\"GIC Ratio\":{\"2011-12\":\"90.6\",\"2012-13\":\"71.8\",\"2013-14\":\"80.2\",\"2014-15\":\"82.7\",\"2015-16\":\"79.8\",\"2016-17\":\"86.3\",\"2017-18\":\"81.3\",\"2018-19\":\"80.5\",\"2019-20\":\"79.5\",\"2020-21\":\"73.2\"}},\"Title\":\"Gross Incurred Claims & Net Incurred Claims Ratios\",\"xTitle\":\"Year\",\"yTitle\":\"Claims Ratio (%)\",\"yAxisData\":{\"2011-12\":\"2011-12\",\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"colorCodes\":[\"#d51581\",\"#e5b601\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\">  <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.7.6<\/span>Net Incurred Claims ratio - Overall (Split by Type of Insurers)<\/h3><div id=\"Chart_41\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_41\", {\"orientation\":\"false\",\"unit\":\"\",\"data\":{\"2019-20\":{\"General Insurers\":87.1,\"Standalone Health Insurers\":64.1,\"Specialised Insurers\":115.4,\"Overall\":85.9},\"2020-21\":{\"General Insurers\":80.7,\"Standalone Health Insurers\":75.4,\"Specialised Insurers\":93.9,\"Overall\":81.1}},\"Title\":\"Net Incurred Claims ratio - Overall (Split by Type of Insurers)\",\"xTitle\":\"Type of Insurers\",\"yTitle\":\"NIC Ratio (%)\",\"yAxisData\":{\"General Insurers\":\"General Insurers\",\"Standalone Health Insurers\":\"Standalone Health Insurers\",\"Specialised Insurers\":\"Specialised Insurers\",\"Overall\":\"Overall\"},\"colorCodes\":[\"#df117d\",\"#8f2a3a\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\">  <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p><\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.7.7<\/span>Net Incurred Claims - Overall (Segment-wise)<\/h3><div id=\"Chart_42\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_42\", {\"orientation\":\"false\",\"unit\":\"\",\"data\":{\"2019-20\":{\"Property\":78.3,\"Marine\":77.5,\"Motor OD\":78,\"Motor TP\":90.6,\"Liability\":51,\"Health\":85.7,\"Others\":94.2},\"2020-21\":{\"Property\":69.7,\"Marine\":73.3,\"Motor OD\":69.8,\"Motor TP\":77.8,\"Liability\":90.2,\"Health\":49.6,\"Others\":85.6}},\"Title\":\"Net Incurred Claims - Overall (Segment-wise)\",\"xTitle\":\"Line of Business\",\"yTitle\":\"NIC Ratio (%)\",\"yAxisData\":{\"Property\":\"Property\",\"Marine\":\"Marine\",\"Motor OD\":\"Motor OD\",\"Motor TP\":\"Motor TP\",\"Liability\":\"Liability\",\"Health\":\"Health\",\"Others\":\"Others\"},\"colorCodes\":[\"#df117d\",\"#8f2a3a\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\">  <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gross Incurred Claims Gross Incurred Claims has risen from \u20b954,201 Crores in 2011-12 to \u20b9148,032 Crores in 2020-21 at a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":529,"menu_order":7,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":[],"_links":{"self":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/173"}],"collection":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/comments?post=173"}],"version-history":[{"count":31,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/173\/revisions"}],"predecessor-version":[{"id":2502,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/173\/revisions\/2502"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/529"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/media?parent=173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}