Gross Incurred Claims
Gross Incurred Claims has risen from ₹51,104 Crores in 2012-13 to ₹178,909 Crores in 2021-22 at a CAGR of 14.94%.
Chart 3.7.1Gross Incurred Claims
Source: Council Compilation as per source
data submitted by companies
The Industry Gross Incurred Claims (GIC) ratio which was 73.3% in the previous financial year has risen to 79.9% in the current financial year.
Chart 3.7.2Gross Incurred Claims to GDP Ratio - Overall
Source: Council Compilation as per source
data submitted by companies
Chart 3.7.3Gross Incurred Claims ratio - Overall (Split by Type of Insurers)
Source: Council Compilation as per source
data submitted by companies
Net Incurred Claims
Net Incurred claims has risen from ₹ 42,550 Crores in 2012-13 to ₹ 1,40,565 Crores in 2021-22, at a CAGR of 14.2%.
Chart 3.7.4Net Incurred Claims - Overall
Source: Council Compilation as per source
data submitted by companies
Chart 3.7.5Gross Incurred Claims & Net Incurred Claims Ratios
Source: Council Compilation as per source
data submitted by companies
Chart 3.7.6Net Incurred Claims ratio - Overall (Split by Type of Insurers)
Source: Council Compilation as per source
data submitted by companies
Chart 3.7.7Net Incurred Claims - Overall (Segment-wise)
Source: Council Compilation as per source
data submitted by companies