{"id":162,"date":"2019-07-22T12:55:19","date_gmt":"2019-07-22T12:55:19","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=162"},"modified":"2024-02-01T10:07:30","modified_gmt":"2024-02-01T10:07:30","slug":"commission","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/indian-non-life-insurance-industry-analysis\/section-03-industry-business-highlights\/commission\/","title":{"rendered":"3.5 &#8211; Commission"},"content":{"rendered":"<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 3.5.1<\/span>Gross & Net Commission<\/h3><div id=\"Chart_33\"><\/div><script type=\"text\/javascript\">\n                     jQuery(document).ready(function () {\n                         multiple_column_multiple_line(\"Chart_33\",{\"data\":{\"Gross Commission\":{\"2013-14\":4888,\"2014-15\":5295,\"2015-16\":6003,\"2016-17\":6882,\"2017-18\":10731,\"2018-19\":12720,\"2019-20\":14412,\"2020-21\":15992,\"2021-22\":16193,\"2022-23\":20515},\"Net Commission\":{\"2013-14\":2578,\"2014-15\":2664,\"2015-16\":2973,\"2016-17\":1380,\"2017-18\":3967,\"2018-19\":5695,\"2019-20\":5674,\"2020-21\":7209,\"2021-22\":7944,\"2022-23\":9072}},\"dataLine\":{\"Gross Commission as a % of GDPI\":{\"2013-14\":6.1,\"2014-15\":6.1,\"2015-16\":6,\"2016-17\":5.3,\"2017-18\":7,\"2018-19\":7.4,\"2019-20\":7.5,\"2020-21\":7.9,\"2021-22\":7.2,\"2022-23\":8},\"Net Commission as a % NEP\":{\"2013-14\":4.3,\"2014-15\":4,\"2015-16\":3.9,\"2016-17\":1.6,\"2017-18\":3.9,\"2018-19\":5,\"2019-20\":4.5,\"2020-21\":5.2,\"2021-22\":5,\"2022-23\":5}},\"Title\":\"Gross & Net Commission\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"zTitle\":\"% of GDPI, % of NEP\",\"yAxisData\":{\"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\",\"2022-23\":\"2022-23\"},\"zAxisData\":{\"2013-14\":0,\"2014-15\":0,\"2015-16\":0,\"2016-17\":0,\"2017-18\":0,\"2018-19\":0,\"2019-20\":0,\"2020-21\":0,\"2021-22\":0,\"2022-23\":0},\"colorLine\":[\"#d766fa\",\"#f20c7f\"],\"colorCodes\":[\"#7030a0\",\"#cc99ff\"]});\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> <em><br><strong>*Note<\/strong>: GDP includes India and Abroad<\/em><\/p>\n\n\n\n<p>Gross Commission has increased from \u20b9 4,888 Crores in 2013-14 to \u20b9 20,515 Crores in 2022-23, Gross Commission as a percentage of GDPI (Gross Direct Premium Income) is at 8.0% in 2022-23.<\/p>\n\n\n\n<p>Gross commission for MISP and POS channel has been increasing at a higher rate than the other channels owing to large scale digitization of the last mile of distribution. Traditional channels are being rapidly digitized by the insurance companies.<\/p>\n\n\n\n<p><\/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 3.5.2<\/span>Gross Commission Channel-wise (2022-23)<\/h3><div id=\"Chart_34\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_34\", {\"orientation\":\"false\",\"unit\":\"(\\u20b9 in Crores)\",\"data\":{\"2022-23\":{\"Agents\":7606,\"Brokers\":7841,\"Corporate Agents\":2846,\"Referral\":0,\"Others\":39,\"Web Aggregators\":10,\"Motor Insurance Service Provider\":630,\"Point of Sale\":505,\"Insurance Marketing Firm\":49}},\"Title\":\"Gross Commission Channel-wise (2022-23)\",\"xTitle\":\"Distribution Channel\",\"yTitle\":\"Commission (\\u20b9 in Crores)\",\"yAxisData\":{\"Agents\":\"Agents\",\"Brokers\":\"Brokers\",\"Corporate Agents\":\"Corporate Agents\",\"Referral\":\"Referral\",\"Others\":\"Others\",\"Web Aggregators\":\"Web Aggregators\",\"Motor Insurance Service Provider\":\"Motor Insurance Service Provider\",\"Point of Sale\":\"Point of Sale\",\"Insurance Marketing Firm\":\"Insurance Marketing Firm\"},\"colorCodes\":[\"#d766fa\",\"#d766fa\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><em><strong>Source<\/strong>: Public Disclosure data (NL6 of companies)<br><strong>Note<\/strong>: Corporate Agents share in above charts includes<\/em><br><em> business through Bancassurance channels<\/em><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Council Compilation as per sourcedata submitted by companies *Note: GDP includes India and Abroad Gross Commission has increased from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":529,"menu_order":5,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":[],"_links":{"self":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages\/162"}],"collection":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/comments?post=162"}],"version-history":[{"count":30,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages\/162\/revisions"}],"predecessor-version":[{"id":3737,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages\/162\/revisions\/3737"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages\/529"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/media?parent=162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<script>
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