The document provides an overview of various types of general insurance products and loans available in India. It discusses different non-life insurance policies including two-wheeler insurance, car insurance, home insurance, travel insurance, commercial vehicle insurance, pet insurance, and others. It also summarizes personal loans, business loans, home loans, gold loans, and other financing options in India. The document aims to educate participants about insurance penetration in India and various opportunities in insurance and lending markets.

2. Mission
The mission of this meeting is to throw some light on the existing insurance penetration and educate participants about
various general insurance types and to tap various unexplored insurance markets.
Insurance Overview
There are 34 non-life insurance companies in the Indian market who distribute various non-life insurance
products.Insurance market is expected to reach US $222 billion by 2026. India’s insurance penetration was pegged at
4.2% in FY21, with life insurance penetration at 3.2% and non-life insurance penetration at 1%.Post-covid, the
awareness for insurance has increased drastically. The insurance companies have also been spurred by various
innovation suited to current trends and deploying vibrant distribution channels to take their products to the
masses.PoSPs have a mighty role to play in this Insurance for all growth story.

3. Non Motors
General Insurance
Motors
Two Wheeler
Four Wheeler
Commercial Vehicle
Home Insurance
Travel Insurance
Pet Insurance
Marine Insurance
Professional
Liability
Corporate Cyber
Engineering
Insurance
Mobile Insurance

4. 1. Two Wheeler Insurance
According to Indian motor act 1988, every vehicle plying on the Indian roads must be insured. Driving without a valid
insurance policy is an offense. A Bike Insurance is a contract between the purchaser and the Insurance Company
wherein the company provides compensation in the event of damage or loss due to an accident or natural or manmade
disasters.
There are different types of general insurance policies
Insurance Policies that do not come under the category of life insurances are called as General Insurances. It is an
agreement between the insurance company and the policy holder wherein the company protects your valuables like
assets, motor, health, home, factory, and others from damage or loss.

5. There are two types of Two Wheeler Insurance
a. Third Party Liability - Covers the damages and injuries to the third party in an accident that involves your bike. It
does not cover the damages to the policyholder's bike
b. Comprehensive Cover - It's a complete package as it covers both own damage as well as third party damage. You will
also get compensation in the event of a theft upto the IDV
You will have to file a claim with the insurance company immediately after an accident or theft, the company will
survey the accident side/investigate the loss and then take a call to settle your claim. If you do not raise a claim within
the policy period, then you will be eligible for offers like No Claim Bonus (NCB) which will help you reduce your
premium. You can also explain to the customers about multiple add-ons (Engine Protection, Key Loss/Replacement,
Zero Depreciation, Consumables cover that offer enhanced protection.
2. Car Insurance
Car Insurance provides financial protection against accidents, theft, total loss, and damages/loss due to natural and man-
made disasters. A Car insurance policy is mandatory in India as per Motor vehicle act of 1988
At Fincover, you can also renew your policy even if you bought it somewhere else. The entire renewal process is easy,
simple and done in a hassle-free way. Fincover also provides claim assistance for its users. You can also explain to the
customers about multiple add-ons (Engine Protection, Key Loss/Replacement, Zero Depreciation, Consumables cover)
that offer enhanced protection.

6. 5. Home Insurance
A Home Insurance is an Insurance Policy that offers financial protection to your homes, structures or enclosures
against all kinds of risks. It covers the cost of damages due to an unfortunate event that causes damage/destruction to
your property. Apart from covering the structure of the house, a home insurance also covers the contents.
Home Insurance is often misunderstood and not given proper importance by the general public. There has to be an
increased awareness about the importance of home insurance as they not help you get a claim for damages from natural
disasters and accidents, but also cover man-made damages like arson, fire, etc. Generally enquire with your clients if
they have insured their homes, if not highlight the importance of home insurance.
4. Travel Insurance
Whenever we travel, we would like to bring back only pleasant memories. However, when things go wrong like
baggage missing, theft of your asset, loss of passport, flight delays, medical issues within the trips, accidents, etc, it
crashes the travel experience. Hence, it is advised for frequent travellers to buy travel insurance which offers them
protection against such losses.
3. Commercial Vehicle Insurance
A Commercial Vehicle Insurance is a policy designed to cover for damages and losses caused to or by a commercial
vehicle. It includes damages and losses in situations such as accidents, collisions, natural and man-made calamities,
fires, etc. It is mandatory for all businesses to buy commercial vehicle insurance for their vehicles, such as for auto-
rickshaws, cabs, school buses, tractors, commercial vans and trucks,JCBS amongst others.

7. 6. Pet Insurance
Vet bills are getting high these days, the only way to save your finances from high medical bills for your pets is by
getting a Pet Insurance. Apart from taking care of health expenses, it also covers in the event your pet goes missing or
passes away due to illness. Not many people are aware that pets have insurance policies too. It's time we extend the same
care and affection that pets unconditionally shows towards us by suggesting a pet insurance policy.
7. Engineering Insurance
Engineering Insurance provides coverage against all risks associated with engineering and machinery. It provides
compensation against risks involved in construction project, installation project, and machines and equipment in project
operation. With so many MSMEs and other small scale industries running operations, this market remains untapped
8. Professional Liability Insurance
A Professional Liability Insurance is something to protect business or professionals to protect them from errors while
providing professional services. It can be availed by Doctors, lawyers, auditors, consultants etc. It provides liability
coverage for third party claims arising due to misdiagnosis, negligence, incorrect treatment, and many others

8. 10. Corporate Cyber Insurance
Cyber Insurance covers losses and business liability arising out of a security breach. The policy offers complete
protection against digital risks that can result in a financial loss to the insured.
Today every organization is prone to cyber attacks such as data breach, system failure, fraudulent fund transfer, denial
of service attacks, etc. The insurance pays for the costs for restoration of lost data and liability arising out of third party
information being leaked
11. Mobile Insurance Plan
A Mobile Insurance plan offers coverage in the event of liquid or accidental damage to your phone. Replacing the
phone is often very expensive, so, the best way to stay protected is to buy a mobile insurance. The phone offers theft
protection, covers high repair cost, accidental breakage cover, and water or liquid damage.
9. Marine Insurance
Marine Insurance is a specific kind of insurance that is designed to cover damage or loss of ships, during transportation
between origin and destination. Marine Insurance provides coverage for all modes of transportation such as rail, sea,
courier, and postal service
It covers loss caused due to fire, explosions, hijacks, accident, collision, and overturning. Business shipments are high
in value and any damage can affect the business adversely. In coastal cities like Chennai, Vizag, Kochi, there are many
cargo companies, that needs insurance protection while transporting the goods

9. Group Insurance
Group Insurance policy covers a group of people, for a employees of a organization, members of an association or a
society. Types of Group Insurance Policy
1. Group Mediclaim Policy
Group Mediclaim Policy provides health coverage to a group of people such as employees of a company or members
of a organization/association/society. Usually most group Mediclaim policies require a minimum membership of 20 to
25 individuals depending on the type of company. Policy is issued for one year and should be renewed every year.
The premium depends on the size of group, average age of members, sum insured, etc
2. Group Personal Accident
Group Personal Accident cover is for employees/workers in a industrial establishment. Group Personal Accident
provides comprehensive accident coverage to the employees. It protects the policyholders and their families
financially against accidents that causes death or disability.

10. The general insurance industry premium grew at a healthy pace of 16 percent in FY23. The total premium for the
general insurance industry in the financial year stood at Rs 2,56,920 crore which compares to Rs 2,20,800 crore a
year ago

11. Type of Insurance Potential Customers
Home Insurance Property Owners
Marine Insurance Cargo industries
Pet Insurance Pet owners
Bike and Car Insurance All
Commercial Vehicle Insurance Auto, Taxi, and other transportation
vehicles
Health Insurance All
Travel Insurance Individual travelers, Travel Agencies
Engineering Insurance MSMEs
Cyber Insurance IT Companies
Documents required to become a POSP
1. KYC
2. Bank Proof
3. Educational Proof

12. Personal Loans
Personal Loans are unsecured loans that can be availed from banks and NBFCs that can be used for a variety of purposes. The
borrower need to provide proof of assets, proof on income, etc. before approving the personal loan amount. Unsecured
personal loans can be used for a wide range of application such as paying for a wedding, making home improvements,
consolidating debt, paying medical bills, among others.
Business Loan
Business loans are the type of loans designed to cater to the needs of small businesses or enterprises. It can be helpful to meet
your capital requirements and for expansion purposes. Business Loans can be availed by startups, retailers, traders,
manufacturers, and several other small/big business entities.
Home Loan
A home loan helps you realize your dream of building a new home and keep your savings intact at the same time. Banks and
NBFCs offer upto 75% to 90% of the property’s value depending on the credit profile of the customer. The tenure can go upto
Loans
At Fincover we have collated all types of loans at one place, which would help you find the best loan in the shortest
time possible with minimal documentation. We work with India's top banks and NBFCs. All you need to do is enter a
few details about the type of loan you need with some details about yourself and we will help you get the
appropriate loan, With our compare feature, you can compare loans from multiple lenders including various
parameters of the loan such as interest, fees & charges, tenure, monthly EMIs and more.

13. Indian Loan Market Overview
• The total lending market in India stood at 174.3 lakhs crore in FY22,
with the retail segment accounting for 48.9% of it. According to the
report by CRIF High Mark, Indians are taking more personal loans
and buying consumer products than ever before. Personal Loans and
consumer durable loans grew at a high CAGR of 25% between FY19-
FY22 almost doubling in the period. FY22 is a milestone year when it
comes to reviving the loan industry which was heavily impacted by
the COVID wave. Stats indicate that roughly 67 per cent of India’s
population had taken a personal loan at least once to meet their
financial requirements. Interestingly, NBFCs distributed most number
of personal loans with over 120 million loans reporting a 64%
increase.

14. LAP(Loans Against Property)
A Loan Against Property is a secured loan that an applicant can avail from banks and financial institutions by
mortgaging property. The loan amount for LAP can go upto 75% of the property value, depending on the lender and
the credit profile of the borrower.
Bike Loan
A two-wheeler loan helps you buy the bike of your choice and return the loan with interest in a pre-fixed schedule
through equated monthly instalments or EMI. Buy loans at affordable interest rates. Use our EMI calculator to find
exactly how your EMI will be in the loan tenure
Car Loan
A car loan is a cash amount borrowed from a bank at a pre-decided interest rate, to buy a car. Bank offering a car
loan provide a flexible repayment tenure from 1-7 years. It is easier to avail than other forms of loan with easier
documentation. Borrowers can avail loan upto Rs. 1.5 crores
Gold Loan
The gold loan is a secured loan that a borrower can avail from a bank or a financial institution
by pledging his gold as collateral. Once you paid back the loan amount in full including
interest, you can get your gold back from the lender

15. THANK YOU!!
For any queries or assistance contact:
Ms. Sumalatha
93422 40483
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