Insurance Sales

Mandatory KYC leads to 30-50% dip in demand for motor insurance from agents

Campaign will work to achieve saturation in respect of bank accounts, insurance/pension schemes; distribution of loans to FPOs, SHGs for setting up cold-chain infra, KCC penetration, among other thing

Sees over 75% of overall insurance purchases from tier 2 & 3 cities

Within health insurance, it was the retail segment that recorded impressive growth

Claims have also not risen sharply both in motor and health, giving some respite to insurance companies

Experts say the recent frauds mean that more insurance cover for banks will come with higher costs