At the end of financial year 2021, the Indian motor insurance industry had a 87 percent retention ratio. The ratio remained stable around 86 to 88 percent in recent years. 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 insurance industry across India from financial year 2014 to 2021
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IRDA (India). (December 23, 2021). Retention ratio in motor insurance industry across India from financial year 2014 to 2021 [Graph]. In Statista. Retrieved December 07, 2024, from https://www.statista.com/statistics/1077789/india-motor-insurance-industry-retention-ratio/
IRDA (India). "Retention ratio in motor insurance industry across India from financial year 2014 to 2021." Chart. December 23, 2021. Statista. Accessed December 07, 2024. https://www.statista.com/statistics/1077789/india-motor-insurance-industry-retention-ratio/
IRDA (India). (2021). Retention ratio in motor insurance industry across India from financial year 2014 to 2021. Statista. Statista Inc.. Accessed: December 07, 2024. https://www.statista.com/statistics/1077789/india-motor-insurance-industry-retention-ratio/
IRDA (India). "Retention Ratio in Motor Insurance Industry across India from Financial Year 2014 to 2021." Statista, Statista Inc., 23 Dec 2021, https://www.statista.com/statistics/1077789/india-motor-insurance-industry-retention-ratio/
IRDA (India), Retention ratio in motor insurance industry across India from financial year 2014 to 2021 Statista, https://www.statista.com/statistics/1077789/india-motor-insurance-industry-retention-ratio/ (last visited December 07, 2024)
Retention ratio in motor insurance industry across India from financial year 2014 to 2021 [Graph], IRDA (India), December 23, 2021. [Online]. Available: https://www.statista.com/statistics/1077789/india-motor-insurance-industry-retention-ratio/