{"id":278,"date":"2019-07-29T09:13:21","date_gmt":"2019-07-29T09:13:21","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=278"},"modified":"2023-01-12T05:38:32","modified_gmt":"2023-01-12T05:38:32","slug":"motor","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/indian-non-life-insurance-industry-analysis\/section-04-segmentwise-business-highlights\/motor\/","title":{"rendered":"4.3 &#8211; Motor Own Damage"},"content":{"rendered":"\n<p>The Motor OD premium has grown at a CAGR of 4.62% over the period 2012-13 to 2021-22.<\/p>\n\n\n\n<div class=\"wp-block-columns w-two-one\">\n\t<div class=\"wp-block-column_2\">\n\t\t<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 4.3.1<\/span>GDPI - Motor Own Damage Insurance<\/h3><div id=\"Chart_180\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        column_chart(\"Chart_180\", {\"unit\":\"(\\u20b9 in Crores)\",\"data\":{\"GDPI\":{\"2012-13\":18090,\"2013-14\":19572,\"2014-15\":20730,\"2015-16\":22714,\"2016-17\":25140,\"2017-18\":27745,\"2018-19\":28092,\"2019-20\":28273,\"2020-21\":26093,\"2021-22\":27173}},\"Title\":\"GDPI - Motor Own Damage Insurance\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"xAxisData\":{\"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\",\"2021-22\":\"2021-22\"},\"colorCodes\":[\"#8f293a\"]});\n                    });\n                <\/script>\n\t<\/div>\n\t<div class=\"wp-block-column_1\">\n\t\t<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Table 4.3.1<\/span>Motor OD<\/h3><table width=\"100%\" class=\"\">    <tbody>        <tr>                    <td>                        2021-22                    <\/td>                    <td>                        Value                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Policies                    <\/td>                    <td>                             \u00a087,163,832                     <\/td>        <\/tr>        <tr>                    <td>                            Premium (in Cr)                    <\/td>                    <td>                             \u00a0 27,173                     <\/td>        <\/tr>        <tr>                    <td>                            No. Of Claims Reported                    <\/td>                    <td>                             8,589,853                     <\/td>        <\/tr>        <tr>                    <td>                            No. Of Paid Claims                    <\/td>                    <td>                             \u00a0 7,829,481                     <\/td>        <\/tr>        <tr>                    <td>                            Amt of Paid Claims(in Cr)                    <\/td>                    <td>                             \u00a0 20,758                     <\/td>        <\/tr>    <\/tbody><\/table>\n                <span style=\"margin-left: 139px;font-size:13px\"> <i>Premium booked in India considered<\/i><\/span>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <\/em> <em><strong>Source<\/strong>: Council Compilation<\/em> <em>as per source <\/em><br><em>data submitted by companies<\/em> <\/p>\n\n\n\n<p>Both the Gross Incurred Claims Ratio and Net Incurred Claims Ratio for Motor Own Damage increased in 2021-22. Gross Incurred Claims increased by approximately 12% as compared to 2020-21<strong>.<\/strong> Net Incurred Claim ratio which was below 70% in FY 2017-18 has since seen a rising trend and now it is 80.32% in 2021-22. Data from the year 2017-18 shows that OD premium rates have remained flat.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 4.3.2<\/span>Gross & Net Incurred Claims Ratio - Motor Own Damage<\/h3><div id=\"Chart_181\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_181\", {\"unit\":\"%\",\"data\":{\"Gross Incurred Claims Ratio\":{\"2012-13\":\"53.5\",\"2013-14\":\"56.8\",\"2014-15\":\"59.9\",\"2015-16\":\"67.3\",\"2016-17\":\"70.1\",\"2017-18\":\"63.8\",\"2018-19\":\"72.4\",\"2019-20\":\"77.2\",\"2020-21\":\"71.1\",\"2021-22\":\"83.2\"},\"Net Incurred Claims Ratio\":{\"2012-13\":\"57.2\",\"2013-14\":\"56.6\",\"2014-15\":\"60.8\",\"2015-16\":\"69.4\",\"2016-17\":\"72.5\",\"2017-18\":\"67\",\"2018-19\":\"72.9\",\"2019-20\":\"78\",\"2020-21\":\"69.8\",\"2021-22\":\"80.3\"}},\"Title\":\"Gross & Net Incurred Claims Ratio - Motor Own Damage\",\"xTitle\":\"Year\",\"yTitle\":\"Loss Ratio (%)\",\"yAxisData\":{\"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\",\"2021-22\":\"2021-22\"},\"colorCodes\":[\"#e32d91\",\"#e98ab2\"]});\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 <\/em><br><em>data submitted by companies<\/em><\/p>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 4.3.3<\/span>Rural vs Urban Premium - Motor OD<\/h3><div id=\"Chart_269\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        pie_chart(\"Chart_269\", {\"data\":{\"Rural Premium\":4358,\"Urban Premium\":22815},\"Title\":\"\",\"SeriesTitle\":\"Rural vs Urban Premium - Motor OD\",\"colorCodes\":[\"#e32d91\",\"#e98ab2\"],\"dataLabelsFlag\":\"yes\"});\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 <\/em><br><em>data submitted by companies<\/em> <\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-columns has-2-columns\">\n\t<div class=\"wp-block-column\">\n\t\t<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 4.3.4<\/span>GDPI Breakup on Categories - Motor OD<\/h3><div id=\"Chart_271\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_271\", {\"orientation\":true,\"unit\":\"\",\"data\":{\"Categories\":{\"Motor 2W\":2,\"Motor 3W\":0.1,\"Motor 4W - Private\":20.2,\"Motor CV - Pass Carry\":12.8,\"Motor CV - Goods Carry\":54.4,\"Motor CV - Miscelleanous\":8.8,\"Motor CV - Others\":1.6}},\"Title\":\"GDPI Breakup on Categories - Motor OD\",\"xTitle\":\"\",\"yTitle\":\"% of Segment Premium\",\"yAxisData\":{\"Motor 2W\":\"Motor 2W\",\"Motor 3W\":\"Motor 3W\",\"Motor 4W - Private\":\"Motor 4W - Private\",\"Motor CV - Pass Carry\":\"Motor CV - Pass Carry\",\"Motor CV - Goods Carry\":\"Motor CV - Goods Carry\",\"Motor CV - Miscelleanous\":\"Motor CV - Miscelleanous\",\"Motor CV - Others\":\"Motor CV - Others\"},\"colorCodes\":[\"#f0787e\",\"#f5a841\",\"#5ac5bc\",\"#ee65a3\",\"#f5e34b\",\"#88b3e0\",\"#a6cdee\"]});\n                    });\n                <\/script>\n\t<\/div>\n\t<div class=\"wp-block-column\">\n\t\t<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 4.3.5<\/span>Policies Breakup on Categories - Motor OD<\/h3><div id=\"Chart_300\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_300\", {\"orientation\":true,\"unit\":\"\",\"data\":{\"Categories\":{\"Motor 2W\":29.2,\"Motor 3W\":2.1,\"Motor 4W - Private\":18,\"Motor CV - Pass Carry\":11.8,\"Motor CV - Goods Carry\":26.1,\"Motor CV - Miscelleanous\":10.9,\"Motor CV - Others\":1.9}},\"Title\":\"Policies Breakup on Categories - Motor OD\",\"xTitle\":\"\",\"yTitle\":\"% of Segment Policies\",\"yAxisData\":{\"Motor 2W\":\"Motor 2W\",\"Motor 3W\":\"Motor 3W\",\"Motor 4W - Private\":\"Motor 4W - Private\",\"Motor CV - Pass Carry\":\"Motor CV - Pass Carry\",\"Motor CV - Goods Carry\":\"Motor CV - Goods Carry\",\"Motor CV - Miscelleanous\":\"Motor CV - Miscelleanous\",\"Motor CV - Others\":\"Motor CV - Others\"},\"colorCodes\":[\"#f0787e\",\"#f5a841\",\"#5ac5bc\",\"#ee65a3\",\"#f5e34b\",\"#88b3e0\",\"#a6cdee\"]});\n                    });\n                <\/script>\n\t<\/div>\n<\/div>\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 <\/em><br><em>data submitted by companies<\/em> <\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-columns has-2-columns\">\n\t<div class=\"wp-block-column\">\n\t\t<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 4.3.6<\/span>Share of Incurred Claims - Motor OD (Amount)<\/h3><div id=\"Chart_304\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_304\", {\"orientation\":true,\"unit\":\"\",\"data\":{\"Categories\":{\"Motor 2W\":34.8,\"Motor 3W\":5.4,\"Motor 4W - Private\":46.7,\"Motor CV - Pass Carry\":2.2,\"Motor CV - Goods Carry\":9.6,\"Motor CV - Miscelleanous\":0.8,\"Motor CV - Others\":0.5}},\"Title\":\"Share of Incurred Claims - Motor OD (Amount)\",\"xTitle\":\"\",\"yTitle\":\"% of Segment Incurred Claims\",\"yAxisData\":{\"Motor 2W\":\"Motor 2W\",\"Motor 3W\":\"Motor 3W\",\"Motor 4W - Private\":\"Motor 4W - Private\",\"Motor CV - Pass Carry\":\"Motor CV - Pass Carry\",\"Motor CV - Goods Carry\":\"Motor CV - Goods Carry\",\"Motor CV - Miscelleanous\":\"Motor CV - Miscelleanous\",\"Motor CV - Others\":\"Motor CV - Others\"},\"colorCodes\":[\"#f0787e\"]});\n                    });\n                <\/script>\n\t<\/div>\n\t<div class=\"wp-block-column\">\n\t\t<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 4.3.7<\/span>Share of Incurred Claims - Motor OD (Number)<\/h3><div id=\"Chart_305\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_305\", {\"orientation\":true,\"unit\":\"\",\"data\":{\"Categories\":{\"Motor 2W\":26.1,\"Motor 3W\":0.8,\"Motor 4W - Private\":67.2,\"Motor CV - Pass Carry\":1.8,\"Motor CV - Goods Carry\":3.3,\"Motor CV - Miscelleanous\":0.4,\"Motor CV - Others\":0.5}},\"Title\":\"Share of Incurred Claims - Motor OD (Number)\",\"xTitle\":\"\",\"yTitle\":\"% of Segment Incurred Claims\",\"yAxisData\":{\"Motor 2W\":\"Motor 2W\",\"Motor 3W\":\"Motor 3W\",\"Motor 4W - Private\":\"Motor 4W - Private\",\"Motor CV - Pass Carry\":\"Motor CV - Pass Carry\",\"Motor CV - Goods Carry\":\"Motor CV - Goods Carry\",\"Motor CV - Miscelleanous\":\"Motor CV - Miscelleanous\",\"Motor CV - Others\":\"Motor CV - Others\"},\"colorCodes\":[\"#f0787e\"]});\n                    });\n                <\/script>\n\t<\/div>\n<\/div>\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 <\/em><br><em>data submitted by companies<\/em> <\/p>\n\n\n\n<p>Chart 4.3.4 to 4.3.7 &#8211; the following information is derived for FY 2021-22.<br>Motor 2W segment contributes only 2% of the total OD premium. However, its share of incurred claims (amounts) in OD is roughly 34.8%.<br>Motor private 4W segment contributes 20.2% of the Motor OD premium. However, it&#8217;s share of overall incurred claims pertaining to OD is 46.7%.<br>Motor commercial vehicle segment (passenger &amp; Goods carrying) contributes about 67.2% of the total OD premium. However, its share of incurred claims is 11.8%.<br>As told earlier, Motor OD premium has been flat since 2017-18.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Motor OD premium has grown at a CAGR of 4.62% over the period 2012-13 to 2021-22. Premium booked in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":272,"menu_order":3,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":[],"_links":{"self":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages\/278"}],"collection":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/comments?post=278"}],"version-history":[{"count":61,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages\/278\/revisions"}],"predecessor-version":[{"id":3423,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages\/278\/revisions\/3423"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages\/272"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/media?parent=278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}