PUNE
P155
- MANAGEMENT OF MOTOR UNDERWRITING & CLAIMS (OD)
(NON-LIFE)
Background:
Motor Insurance (OD &
TP) is the largest segment of General Insurance business
in India. Though the motor business forms a large part of the overall
insurance, the fact remains, that it is also a large contributor to
underwriting losses. The segment has potential for further growth, given
the fact, that about 60 to 70 percent of the vehicles plying on Indian roads are
uninsured.
A major challenge is that motor insurance has become
highly commoditised with insurers offering identical products and nearly similar
claims service. The point of differentiation for insurers is thus only
based on price, leading to a pricing death spiral. Another challenge facing the
industry is of low persistency ratio. Recent developments in the motor space
include introduction of The Motor Vehicles (Amendment) Act, 2019, regulation on
long term policy for two wheelers and private cars, advent
of vehicles with elaborate features, use of telematics, Artificial Intelligence,
changing consumer behaviour and increasing frequency and severity of
claims.
The programme will enable
participants develop a holistic understanding of the Motor Insurance so as to
provide significant customer value and make it sustainable business.
Objectives:
The programme aims to equip participants with knowledge and skills of
§
Portfolio
trends and its implication
§
M.V. Act and
other laws
§
Regulations
and its implications
§
Motor
insurance Underwriting
§
Motor
Claims Management
Contents:
§
Overview
of Motor Insurance
§
Anatomy of
Automobiles
§
MV Act, MV
Rules & other laws governing Motor Insurance
§
Regulations
impacting Motor Insurance
§
Erstwhile
India Motor Tariff (IMT) Endorsements & General Regulations
§
Motor
Insurance Products
§
Underwriting
Pvt Car, Two-Wheeler, Commercial Vehicles, Motor Trade
§
Loss
Assessment
§
Digital
Underwriting & Claims
Participants’
Profile:
Officials handling Motor underwriting, claims posted in Head
Office, Regional Offices, Motor Hubs, Operating Offices of Indian and
foreign public & private sector General Insurance Companies
Duration: 3 days
Dates:
I.
15.04.2024
- 17.04.2024
II.
05.08.2024
- 07.08.2024
III.
07.10.2024 - 09.10.2024
IV.
06.01.2025 - 08.01.2025