In financial year 2019, Bajaj had the highest retention rate at 94.6 percent in own-damage motor insurances. This was followed by New India Assurance at 93.2 percent and State Bank of India at 92 percent. It was observed that most private sector insurers in the country had a good retention rate, however, it was higher for public sector insurers. The industry retention ratio is an important metric to understand the number of customers who continue their insurance coverage after the initial term has expired.
Retention ratio in motor own-damage insurance across India in financial year 2019, by insurer
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
HDFC Securities. (October 1, 2019). Retention ratio in motor own-damage insurance across India in financial year 2019, by insurer [Graph]. In Statista. Retrieved November 23, 2024, from https://www.statista.com/statistics/1078359/india-motor-own-damage-retention-rate-by-insurer/
HDFC Securities. "Retention ratio in motor own-damage insurance across India in financial year 2019, by insurer." Chart. October 1, 2019. Statista. Accessed November 23, 2024. https://www.statista.com/statistics/1078359/india-motor-own-damage-retention-rate-by-insurer/
HDFC Securities. (2019). Retention ratio in motor own-damage insurance across India in financial year 2019, by insurer. Statista. Statista Inc.. Accessed: November 23, 2024. https://www.statista.com/statistics/1078359/india-motor-own-damage-retention-rate-by-insurer/
HDFC Securities. "Retention Ratio in Motor Own-damage Insurance across India in Financial Year 2019, by Insurer." Statista, Statista Inc., 1 Oct 2019, https://www.statista.com/statistics/1078359/india-motor-own-damage-retention-rate-by-insurer/
HDFC Securities, Retention ratio in motor own-damage insurance across India in financial year 2019, by insurer Statista, https://www.statista.com/statistics/1078359/india-motor-own-damage-retention-rate-by-insurer/ (last visited November 23, 2024)
Retention ratio in motor own-damage insurance across India in financial year 2019, by insurer [Graph], HDFC Securities, October 1, 2019. [Online]. Available: https://www.statista.com/statistics/1078359/india-motor-own-damage-retention-rate-by-insurer/
