Press Release

3rd February 2010

 

Motor Insurance Data (200 8 -0 9 )

 

The Motor Insurance data for all classes of vehicles was hosted on the website of the IRDA for the period 200 7 -0 8. The tabulations in the form of Summary Reports contain (i) Public Sector aggregate data, (ii) Private Sector aggregate data and (iii) Industry level data.

Similar tabulations have been generated for the period 200 8 -0 9 . They relate to both, Public Sector and Private Sector insurance companies as well as Industry level aggregate data. Three types of tabulations have been generated as detailed below:

  • MR1 gives the vehicle class-wise details of total number of policies, total premium , total number of claims, total incurred claims and claims paid.
  • MR2 gives the vehicle class-wise details of Premium and claims break-up of Own Damage (OD) and Third Party (TP).
  • MR3 gives the vehicle class-wise details of claims ratios (claims paid ratio, incurred claims ratio)[Claims paid ratio is a percentage of claims paid to premium. Incurred claims ratio means claims paid during the year plus closing provision at the end of the year less opening provision at the beginning of the year expressed as a percentage to the premium]

The Summary Reports of the data have been collated from the transactional level data submitted by the respective insurance companies. The summary statements have been duly verified and validated by the concerned insurance company. The Summary Reports do not include

(i) one public sector company, viz M/s New India Assurance Company and

(ii) One private sector company, viz M/s Reliance General Insurance Company as they have not validated their data.

The Summary Reports for the period 2008 -09 have now been hosted on the IRDA website (www.irda.gov.in/dld/datacenter_web/motpub/Contents.htm)

These reports are hosted for the benefit of all stakeholders and general public. Comments and suggestions, if any, may be sent to-

IRDA Data Centre,
9 th floor, United India Insurance Towers,
3-5-817/818, Hyderguda,
Hyderabad 500 029.
( datacenter@irda.gov.in )

 

 



     


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