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. 

The number of policies issued by specialised Insurers over the last three years is more than 15% of the total number of policies, reflecting the importance of crop insurance business.

Chart 3.2.1Policies Issued

Source: Council Compilation as per source
data submitted by companies

Claims handled have risen notably across all categories of insurers in the FY 2024-25 accompanied by an increase in the claims incidence ratio.

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

In the current financial year, there has been an decrease in the number of offices as compared to previous year.

Chart 3.2.3Number of Offices

Source: Council Compilation as per source
data submitted by companies

Industry has seen a steady increase in the employee count since last 3 years. 

Chart 3.2.4Employee Count

Source: Council Compilation as per source
data submitted by companies