Market Research Logo

Non-Life Insurance in India Key Trends and Opportunities to 2020

Non-Life Insurance in India Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Non-Life Insurance in India Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Indian non-life insurance segment, and a comparison of the Indian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Indian economy and demographics, explains the various types of natural hazard and their impact on the Indian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Non-Life Insurance in India Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Indian non-life insurance segment, including:

  • The Indian non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Indian economy and demographics
  • A comparison of the Indian non-life insurance segment with its regional counterparts
  • The various distribution channels in the Indian non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Indian insurance industry
  • Details of the competitive landscape in the non-life insurance segment in India
  • Details of regulatory policy applicable to the Indian insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in India:
  • It provides historical values for the Indian non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Indian non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Indian non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in India.
  • It analyses various natural and man-made hazards and their impact on the Indian insurance industry
  • It profiles the top non-life insurance companies in India, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Indian non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Indian non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Indian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The non-life segment is still in a developmental stage, with much of the population untapped and unaware of the benefits of cover.
  • The non-life segment accounted for 15.1% of the industry's gross written premium in 2015.
  • IRDAI increased motor third-party liability premiums from April 1, 2016.
  • In March 2015, foreign direct investment (FDI) limit in the Indian insurance industry increased from 26% to 49%.
  • Statutory motor third-party insurance, rising motor vehicle sales, rising demand for housing and the favorable economy supported the growth of non-life insurance during the review period.
  • The Pradhan Mantri Fasal Bima Yojana, crop insurance scheme was launched by the government on January 13, 2016.


  • Key Facts and Highlights
    • Table Indian Non-Life Insurance - Key Facts, 2015
    • Table Indian Non-Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table BRICS Region - Real GDP (US$ Billion), 2015
    • Table Indian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Indian Non-Life Insurance - Gross Written Premium (INR Billion and US$ Billion), 2011-2015
        • Table Indian Non-Life Insurance - Penetration (%), 2011-2015
        • Table Indian Non-Life Insurance - Gross Written Premium (INR Billion and US$ Billion), 2015-2020
        • Table Indian Non-Life Insurance - Penetration (%), 2015-2020
        • Table Indian Non-Life Insurance - Premium per Capita (INR and US$), 2011-2015
        • Table Indian Non-Life Insurance - Premium per Capita (INR and US$), 2015-2020
      • Policies sold
        • Table Indian Non-Life Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Indian Non-Life Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Indian Non-Life Insurance - Paid Claims (INR Billion and US$ Billion), 2011-2015
        • Table Indian Non-Life Insurance - Paid Claims (INR Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Indian Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Indian Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Indian Non-Life Insurance - Total Assets (INR Billion and US$ Billion), 2011-2015
        • Table Indian Non-Life Insurance - Total Assets (INR Billion and US$ Billion), 2015-2020
        • Table Indian Non-Life Insurance - Total Investment Income (INR Billion and US$ Billion), 2011-2015
        • Table Indian Non-Life Insurance - Total Investment Income (INR Billion and US$ Billion), 2015-2020
        • Table Indian Non-Life Insurance - Investment Portfolio (INR Billion), 2011-2015
        • Table Indian Non-Life Insurance - Investment Portfolio (INR Billion), 2015-2020
  • Outlook by Category
    • Table Indian Non-Life Insurance - Gross Written Premium by Category (INR Billion),2011-2015
    • Table Indian Non-Life Insurance - Gross Written Premium by Category (INR Billion), 2015-2020
    • Property Insurance
      • Product overview
        • Table Indian Property Insurance - Communal Violence, 2013-2015
      • Premium
        • Table Indian Property Insurance - Direct Written Premium by Sub-Category (INR Billion), 2011-2015
        • Table Indian Property Insurance - Direct Written Premium by Sub-Category (INR Billion), 2015-2020
      • Policies sold
        • Table Indian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Indian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
      • Claims
        • Table Indian Property Insurance - Paid Claims (INR Billion and US$ Billion), 2011-2015
        • Table Indian Property Insurance - Paid Claims (INR Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Indian Property Insurance - Loss Ratio (%), 2011-2015
        • Table Indian Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Product overview
        • Table Indian Motor Insurance - Increase in Motor Third-Party Liability Premium Rate (%)
        • Table Indian Motor Insurance - Motor Vehicle Bill 2016 Amendments
      • Premium
        • Table Indian Motor Insurance - Direct Written Premium by Sub-Category (INR Billion), 2011-2015
        • Table Indian Motor Insurance - Direct Written Premium by Sub-Category (INR Billion), 2015-2020
      • Policies sold
        • Table Indian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2015
        • Table Indian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2015-2020
      • Claims
        • Table Indian Motor Insurance - Paid Claims (INR Billion and US$ Billion), 2011-2015
        • Table Indian Motor Insurance - Paid Claims (INR Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Indian Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Indian Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Product overview
      • Premium
        • Table Indian Liability Insurance - Direct Written Premium by Sub-Category (INR Billion), 2011-2015
        • Table Indian Liability Insurance - Direct Written Premium by Sub-Category (INR Billion), 2015-2020
      • Policies sold
        • Table Indian Liability Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Indian Liability Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Indian Liability Insurance - Paid Claims (INR Million and US$ Million), 2011-2015
        • Table Indian Liability Insurance - Paid Claims (INR Million and US$ Million), 2015-2020
      • Profitability
        • Table Indian Liability Insurance - Loss Ratio (%), 2011-2015
        • Table Indian Liability Insurance - Loss Ratio (%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Indian Non-Life Insurance - Number of Vessels, 2011-2015
        • Table Indian Non-Life Insurance - Fleet (Gross Registered Tonnage), 2011-2015
      • Premium
        • Table Indian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (INR Billion), 2011-2015
        • Table Indian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (INR Billion), 2015-2020
      • Policies sold
        • Table Indian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Indian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Indian Marine, Aviation and Transit Insurance - Paid Claims (INR Million and US$ Million), 2011-2015
        • Table Indian Marine, Aviation and Transit Insurance - Paid Claims (INR Million and US$ Million), 2015-2020
      • Profitability
        • Table Indian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Indian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Indian Non-Life Insurance - Direct Written Premium by Distribution Channel (INR Billion), 2011-2015
      • Table Indian Non-Life Insurance - Direct Written Premium by Distribution Channel (INR Billion), 2015-2020
      • Table Indian Non-Life Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020
      • Agencies
      • Direct marketing
      • Brokers
      • Bancassurance
      • E-commerce
      • Other channels
  • Natural Hazards
    • Flooding
    • Earthquakes
    • Droughts
    • Extreme temperatures
    • Hailstorms
    • Cyclones
    • Exposure
  • Competitive Landscape
    • Overview
      • Table Indian Non-Life Insurance - Segment Shares of Leading Insurers (%), 2015
    • Company Profiles
      • The New India Assurance Company Ltd - company overview
        • Table The New India Assurance Company Ltd - Key Facts
        • Table The New India Assurance Company Ltd - Key Financials (INR Million), 2011-2015
      • National Insurance Company Ltd - company overview
        • Table National Insurance Company Ltd - Key Facts
        • Table National Insurance Company Ltd - Key Financials (INR Million), 2011-2015
      • United India Insurance Company Ltd - company overview
        • Table United India Insurance Company Ltd - Key Facts
        • Table United India Insurance Company Ltd - Key Financials (INR Million), 2011-2015
      • The Oriental Insurance Company Ltd - company overview
        • Table The Oriental Insurance Company Ltd - Key Facts
        • Table The Oriental Insurance Company Ltd - Key Financials (INR Million), 2011-2015
      • ICICI Lombard General Insurance Company Ltd - company overview
        • Table ICICI Lombard General Insurance Company Ltd - Key Facts
        • Table ICICI Lombard General Insurance Company Ltd - Key Financials (INR Million), 2011-2015
  • Governance, Risk and Compliance
    • Table India - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
      • Table India - Sum Insured or Premium Limit for Electronic Policies
      • Table India - Percentage of Allowable Expenses
      • Table India - Commission Payable on Non-Life Insurance Policy
    • Legislation and Market Practice by Type of Insurance
      • Life Insurance
        • Table India - Life Insurance Regulatory Framework
        • Table India - Commission Payable on Single Premium Life Policy
        • Table India - Commission Payable on Regular Premium Life Policy
      • Property Insurance
        • Table India - Property Insurance Regulatory Framework
        • Table India - Compulsory Cession Limits
      • Motor Insurance
        • Table India - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table India - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
        • Table India - Commission Payable on Health Insurance Policies Offered by Life Insurers
        • Table India - Commission Payable on Health Retail Insurance Policy
        • Table India - Commission Payable on Health Group Insurance Policy
    • Compulsory Insurance
      • Third-party liability insurance for owner of hazardous facilities
      • Motor third party liability insurance
        • Table India - Premium Rates for Third-Party (TP) Liability Insurance
      • Professional indemnity insurance for insurance brokers and web aggregators
      • Workmen's compensation insurance/employers' liability insurance
        • Table India - Employee Compensation Benefits
      • Professional indemnity insurance for stock brokers
      • Aviation carriers' liability insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Insurance Regulatory and Development Authority of India
      • The Life Insurance Council
      • The General Insurance (GI) Council
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
        • Table India - Factors for Calculation of Required Solvency Margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table India - Surcharge for the Financial Year 2016
        • Table India - Other Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Indian Insurance Industry - Policies and Premium, 2011-2015
      • Table Indian Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Indian Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Indian Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Indian Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Indian Non-Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing and E-Commerce
      • Table Indian Non-Life Insurance - Direct Marketing and E-Commerce, 2011-2015
      • Table Indian Non-Life Insurance - Direct Marketing and E-Commerce, 2015-2020
    • Insurance Brokers and Agencies
      • Table Indian Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Indian Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Bancassurance and Other Distribution Channels
      • Table Indian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2011-2015
      • Table Indian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2015-2020
    • Property Insurance
      • Table Indian Non-Life Insurance - Property Insurance, 2011-2015
      • Table Indian Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Indian Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Indian Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Indian Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Indian Non-Life Insurance - Motor Insurance, 2015-2020
    • Motor Insurance by Product
      • Table Indian Non-Life Insurance - Motor Insurance by Product, 2011-2015
      • Table Indian Non-Life Insurance - Motor Insurance by Product, 2015-2020
    • Liability Insurance
      • Table Indian Non-Life Insurance - Liability Insurance, 2011-2015
      • Table Indian Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Indian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Indian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report