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
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HDFC Securities. (October 1, 2019). Retention ratio in motor own-damage insurance across India in financial year 2019, by insurer [Graph]. In Statista. Retrieved October 13, 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 October 13, 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: October 13, 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 October 13, 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/
