Insurance regulator suggests modification in steps for speedy settlement of insurance claims in India. (Photographer: Akio Kon/Bloomberg)
India’s worst auto slowdown in over two decades has prompted general insurance companies to look at ways to reduce dominance of motor business in their product mix.While the motor business remains the biggest contributor to premium, insurers are focusing on ramping up the non-motor business including health, fire and other segments.Motor business posted a muted gross direct premium growth—the lowest across categories—during the first...