PUNE
P800
- PROGRAMME ON MOTOR UNDERWRITING
SKILLS (NON-LIFE)
Background:
Traditionally, there has hardly been any
underwriting motor insurance business. Rates are based on static parameters
including cubic capacity, place of registration of vehicle. 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 commoditized with insurers offering identical
products and nearly similar claims services. The point of differentiation for
insurers is thus only based on price, leading to a pricing death spiral. Hence
the way the Company underwrites the motor portfolio will have a significant
bearing on both top line and bottom line of the Company.
The role of underwriters
must significantly change if insurers are to modernize their operations and
infrastructure to avoid the race to the bottom and meet enhanced customer
expectations. For practical and strategic reasons alike, underwriters have a
clear and urgent opportunity to build their own future and shape the future of
the industry. And, as the saying goes, the future is now.
Objectives:
The programme aims to provide knowledge and understanding of the motor
insurance underwriting
Contents:
§
Emerging Imperatives for a Motor Underwriter
§
Laws & Regulations on Motor Insurance
§
Anatomy of Automobile from an underwriting
perspective
§
Anatomy of Electric Motor Vehicle from an
underwriting perspective
§
Highlights of Indian Motor Insurance Tariff:
GR&IMTs
§
Underwriting Pvt Car, Two-Wheeler, Commercial
Vehicle, Motor Trade
§
Reinsurance in Motor Insurance
§
Synergy with claims for effective underwriting
§
Innovative Motor Insurance Solutions
§
Digitalizing Underwriting
§
Attitudinal Strength of a motor underwriter
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:
2 Days
Dates:
I.
27.06.2024 - 28.06.2024
II.
24.02.2025 - 26.02.2025