Since the opening up of the Non-Life Insurance Industry in 2001, the industry has witnessed a substantial improvement in operational efficiency, along with a many-fold increase in Premium underwritten.

There has been a significant increase in the number of policies issued by Specialised Insurers over the last three years.

Chart 3.2.1Policies Issued

Source: Council Compilation as per source
data submitted by companies

Claims handled increased significantly for all categories of insurers in 2022-23. The claims incidence ratio has increased as well.

Chart 3.2.2Claims Handled

Source: For 2013-14 onwards, Form 6 of I-X being sent by companies to The IRDAI
For prior years, NL24/25 of public disclosures of companies
*Claims Handled = Opening Balance of Claims Outstanding as at April 1st of each year + Claims Reported during that Financial Year.
Note: Incidence Ratio is derived as Claims Handled/Policies Issued

Source: Council Compilation as per source
data submitted by companies

There has been a consistent decrease in the number of offices starting from the fiscal year 2018–19.

Chart 3.2.3Number of Offices

Source: Council Compilation as per source
data submitted by companies

In the current financial year, a rise in employment is observed.

Chart 3.2.4Employee Count

Source: Council Compilation as per source
data submitted by companies