Search

The general insurance sector has been dynamically changing and upgrading its business operations in the field of product development, product pricing, underwriting, actuary, claims management, risk management, asset and liability management, reinsurance and customer relationship management to be in line with ever changing regulatory and non-regulatory business norms over the years. These changes arise out of increased emphasis on liberalization and open market systems has transformed the orientation of domestic general insurance markets from that of sellers to a buyer's market. In the past two decades of post privatization operations, the sector has witnessed many challenges in terms of performance. The present study attempts to provide an insight into the behavior of the variables, which determines the performance of general insurance business in India. The formulation of econometric models based on the behavior of the variables influencing the performance of general insurance business in India across the segments of fire marine and miscellaneous will facilitate better decision-making and risk management processes of the players in the industry. The findings of the study are likely to help the policy formulators in bringing needed modifications to the existing policy and provisions to give further boost to the industry.