2. CONTENTS:
• MOTOR INSURANCE - GENESIS
• TYPES OF POLICIES
• TYPES OF VEHICLES
• UNDERWRITING OF POLICIES
• MOTOR REINSURANCE
• MOTOR CLAIMS
• CONCLUSION
2
IIF
3. MOTOR INSURANCE - GENESIS:
• INTERNAL COMBUSTION ENGINE – DEVELOPMENT
STARTED IN 1206
• INTRODUCTION OF AUTOMOBILES – KARL BENZ –
1885
• INTRODUCTION OF ROAD TRAFFIC / MOTOR
VEHICLE ACT
• MOTOR VEHICLE INSURANCE–COMMENCED IN 1895
IN UK 3
IIF
4. MOTOR INSURANCE - TYPES OF POLICIES
• THIRD PARTY (LIABILITY)
• THIRD PARTY &/OR FIRE & / OR THEFT
• COMPREHENSIVE (OWN DAMAGE + TP)
• ADD-ON'S TO COMPREHENSIVE
• FLEET
• MOTOR TRADE
4
IIF
5. Types
of
Vehicles
• Private Car
• Motor Cycles /
Scooters (Two
Wheelers)
• Commercial (Goods
Carrying)
• Commercial
(Passenger Carrying)
• Miscellaneous and
Special Types
5
IIF
6. UNDERWRITING FACTORS - FOR ACCEPTANCE /
RATING :
• MANUFACTURER / MAKE / MODEL
• ENGINE CAPACITY – CC / HP
• VEHICLE TYPE – SALOON / SPORTS / SUV
ETC.
• CARRYING CAPACITY – GOODS / PASSENGER
• AREA OF USE
• OWNER / DRIVER FACTORS
• VEHICLE CONDITION
• CLAIMS HISTORY - DESIRABILITY 6
IIF
7. MOTOR – REINSURANCE
•WHY REINSURANCE?
•QUOTA SHARE – OBLIGATORY – NATIONAL
REINSURER
•RETENTION
•IS A PROPORTIONAL TREATY REQUIRED?
•FACULTATIVE REINSURANCE – FAC
PLACEMENTS ON CASE-TO-CASE BASIS
•EXCESS OF LOSS REINSURANCE – NON-
PROPORTIONAL – SINGLE LOSS – ALL LOSSES
ARISING OUT OF ONE EVENT
7
IIF
8. MOTOR CLAIMS:
• TYPE OF CLAIMS:
DAMAGE TO VEHICLE -OD –ACCIDENT/THEFT etc.
• THIRD PARTY:
• TP INJURY / DEATH
• TP PROPERTY DAMAGE
• LIABILITY TO PASSENGER
• LIABILITY TO PAID DRIVER / CLEANER /
OTHER WORKMEN ETC.
• PERSONAL ACCIDENT / HOSPITALISATION:
8
IIF
9. CONCLUSION:
• IMPORTANCE OF THE MOTOR BOOK FOR A GI
COMPANY – PORTFOLIO – MARKET SHARE –
CASH FLOW
• IMPORTANCE OF PRUDENT UNDERWRITING
• CUSTOMER SATISFACTION - MAINTAINING
TAT IN POLICY ISSUANCE AND CLAIM
SETTLEMENT (CLAIMS MANAGEMENT)
• IMPORTANCE OF TECHNOLOGY
• IMPORTANCE OF A RESPONSIVE
REINSURANCE PROGRAMME
9
IIF
10. A JOURNEY OF 1000 MILES BEGINS WITH A
SINGLE STEP
LET’S START OUR JOURNEY TODAY
THANK YOU
10
IIF
