{"id":278,"date":"2019-07-29T09:13:21","date_gmt":"2019-07-29T09:13:21","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=278"},"modified":"2025-02-04T10:33:24","modified_gmt":"2025-02-04T10:33:24","slug":"motor","status":"publish","type":"page","link":"https:\/\/yearbook.websitestage.org\/?page_id=278","title":{"rendered":"4.3 &#8211; Motor Own Damage"},"content":{"rendered":"\n<p>Motor OD premium has increased by 16.4% as compared to previous year.<\/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\":{\"2014-15\":20730,\"2015-16\":22714,\"2016-17\":25140,\"2017-18\":27745,\"2018-19\":28092,\"2019-20\":28273,\"2020-21\":26093,\"2021-22\":27173,\"2022-23\":32072,\"2023-24\":37324}},\"Title\":\"GDPI - Motor Own Damage Insurance\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"xAxisData\":{\"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\",\"2023-24\":\"2023-24\"},\"colorCodes\":[\"#7e8ac5\"]});\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>                        2023-24                    <\/td>                    <td>                        Value                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Policies                    <\/td>                    <td>                            10,65,32,858                    <\/td>        <\/tr>        <tr>                    <td>                            GDPI (in Cr)                    <\/td>                    <td>                             37,324                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Claims Reported                    <\/td>                    <td>                            1,04,23,286                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Paid Claims                    <\/td>                    <td>                            94,99,832                    <\/td>        <\/tr>        <tr>                    <td>                            Amt of Paid Claims(in Cr)                    <\/td>                    <td>                             27,302                     <\/td>        <\/tr>    <\/tbody><\/table>\n                <span style=\"margin-left: 139px;font-size:13px\"> <i> <\/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>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 4.3.1a<\/span>Channelwise GDPI - Motor OD<\/h3><div id=\"Chart_338\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        pie_chart(\"Chart_338\", {\"data\":{\"Individual Agents\":8220,\"Corporate Agents-Bank\":813,\"Corporate Agents-Others\":2114,\"Brokers\":21356,\"Direct Business\":1235,\"Others\":3600},\"Title\":\"\",\"SeriesTitle\":\"Channelwise GDPI - Motor OD\",\"colorCodes\":[\"#7E8AC5\",\" #004BE2\",\"#003296\",\"#002060\",\"#BDD7EE\",\"#5358B5\"],\"dataLabelsFlag\":\"yes\"});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em> <em>as per source <\/em><br><em>data submitted by companies<\/em> <\/p>\n\n\n\n<p>Gross Incurred Claims Ratio which was 82.7% in 2022-23 has declined to 75.5% in 2023-24. Net Incurred Claim ratio which was below 70% in FY 2017-18 is now 83.9% in 2023-24. However, there is an improvement considering the ratio was 88.7% in the previous year.<\/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\":{\"2014-15\":\"59.89\",\"2015-16\":\"67.26\",\"2016-17\":\"70.1\",\"2017-18\":\"63.81\",\"2018-19\":\"72.35\",\"2019-20\":\"77.21\",\"2020-21\":\"71.09\",\"2021-22\":\"83.16\",\"2022-23\":\"82.7\",\"2023-24\":\"75.5\"},\"Net Incurred Claims Ratio\":{\"2014-15\":\"60.84\",\"2015-16\":\"69.4\",\"2016-17\":\"72.5\",\"2017-18\":\"66.97\",\"2018-19\":\"72.91\",\"2019-20\":\"77.98\",\"2020-21\":\"69.75\",\"2021-22\":\"80.32\",\"2022-23\":\"88.67\",\"2023-24\":\"83.9\"}},\"Title\":\"Gross & Net Incurred Claims Ratio - Motor Own Damage\",\"xTitle\":\"Year\",\"yTitle\":\"Loss Ratio (%)\",\"yAxisData\":{\"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\",\"2023-24\":\"2023-24\"},\"colorCodes\":[\"#7e8ac5\",\"#002060\"]});\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\":6561,\"Urban Premium\":30713},\"Title\":\"\",\"SeriesTitle\":\"Rural vs Urban Premium - Motor OD\",\"colorCodes\":[\"#7e8ac5\",\"#0070c0\"],\"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\":1,\"Motor 3W\":5.4,\"Motor 4W - Private\":15.3,\"Motor CV - Pass Carry\":12.4,\"Motor CV - Goods Carry\":61.1,\"Motor CV - Others\":4.8}},\"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 - Others\":\"Motor CV - Others\"},\"colorCodes\":[\"#7e8ac5\"]});\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\":28,\"Motor 3W\":0.1,\"Motor 4W - Private\":21.2,\"Motor CV - Pass Carry\":11.1,\"Motor CV - Goods Carry\":27.3,\"Motor CV - Others\":12.3}},\"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 - Others\":\"Motor CV - Others\"},\"colorCodes\":[\"#7e8ac5\"]});\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<p><strong>Chart 4.3.4 to 4.3.5 &#8211; the following information is derived for FY 2023-24.\u00a0<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Motor 2W segment accounts for only 1.0% of the total Own Damage (OD) premium.<\/li>\n\n\n\n<li>The Motor private 4W segment contributes 15.3% of the Motor OD premium .<\/li>\n\n\n\n<li>The Motor commercial vehicle segment (covering both passenger and goods carriers) makes up around 73.5% of the total OD premium.\u00a0<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Motor OD premium has increased by 16.4% as compared to previous year. Source: Council Compilation as per source data submitted [&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:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/278"}],"collection":[{"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=278"}],"version-history":[{"count":74,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/278\/revisions"}],"predecessor-version":[{"id":4172,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/278\/revisions\/4172"}],"up":[{"embeddable":true,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/272"}],"wp:attachment":[{"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}