Retention rate in own-damage motor insurance India FY 2019 by insurer
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.
