Summary:
With several new models being launched and the ensuing festival season the automobile sector is expected to pick up pace in the coming months and with that the motor insurance numbers would also go up, said a top official of ICICI Lombard General Insurance.
Sanjay Datta, Chief-Underwritings, Claims and Reinsurance, said, “Sale of New vehicles has picked up since late June’20 and the July’20 numbers were encouraging. During the national lockdown, the motor claim intimations were significantly down. Currently, the intimation numbers are almost close to the pre-lockdown levels.”
According to data released by the General Insurance Council, health insurance overtook the motor insurance business for the first time to emerge as the largest portfolio in the general insurance industry in the first two months of this fiscal.