Study on NIC

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CHAPTER IV

DATA ANALYSIS

In this chapter the analysis is being carried out to know about the

premium received and claim settlement.

From this chapter we can know about detail information of

premium received for various policies and settlement of claims for the period

of 2006-2011.

In this chapter first we analysed premium received for different

policies and their growth for every financial year and settlement of claims.

The major policies received and claimed are listed below,

1. Fire Policy2. Marine Cargo3. Motor4. Workmen Compensation5. Personal Accident6. Engineering7. Misc Traditional Business8. Misc Non Traditional Business9. Rural Sector Business


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1. PREMIUM RECEIVED

4.1. Fire Policy

The premium received for fire policy is being presented in table 4.1

TABLE 4.1

Premium Received (Fire Policy)

Year No. Of Transactions Amount(Rs in

lakhs)

2006-07 694 33.52

2007-08 600 24.54

2008-09 693 27.08

2009-10 783 31.43

2010-11 633 39.92

Source: Computed from Annual Report

From the above table, it could be observed that the growth of premium

is increased from year to year. In 2010-11 period premium received was

increased. During 2007-08 the premium received was very low when compared

to other study periods.


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0

5

10

15

20

25

30

35

40

45

2006-07 2007-08 2008-09 2009-10 2010-11

G

rowth

Fire Policy


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4.2. Marine Cargo

The premium received for Marine Cargo is being presented in

table 4.2

TABLE 4.2

Premium Received (Marine Cargo)

Year No. Of Transactions Amount(Rs in lakhs)

2006-07 531 6.43

2007-08 394 5.65

2008-09 395 5.72

2009-10 507 7.38

2010-11 455 8.50


From the above table, it could be observed that the growth of Marine

Cargo premium is increased from year to year. The premium received was high

during 2010-11 and low during 2008-2009.


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2

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5

6

7

8

9

2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Marine Cargo


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4.3. Motor

The premium received for Motor is being presented in table 4.3

TABLE 4.3

Premium Received (Motor)

Year No. Of TransactionsAmount(Rs in

lakhs)

2006-07 6609 356.90

2007-08 7662 380.58

2008-09 7657 358.64

2009-10 7822 444.49

2010-11 8411 524.63


From the above table, it could be observed that the growth of Motor premium is

increased from year to year. During 2010-11, there was increase in premium

and was decrease in 2006-07. So premium for motor was increased from year to

year due to increase in usage of vehicles.


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0

100

200

300

400

500

600

2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Motor


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4.4. Workmen Compensation

The premium received for Workmen Compensation is being

presented in table 4.4

TABLE 4.4

Premium Received (Workmen Compensation)


lakhs)

2006-07 2 0.05

2007-08 8 0.88

2008-09 2 0.06

2009-10 17 1.11

2010-11 37 2.36


From the above table, it could be observed that the growth of

Workmen Compensation is increased during 2010 11. In workmen

compensation there was less increase from year to year. In that there was

increase in 2010-11 and decrease during 2006-07


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100

200

300

400

500

600

700

800

2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Workmen Compensation


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4.5. Personal Accident

The premium received for Personal Accident is being presented in

table 4.5

TABLE 4.5

Premium Received (Personal Accident)


lakhs)

2006-07 1490 15.66

2007-08 1222 17.23

2008-09 1380 19.95

2009-10 1933 28.45

2010-11 1929 36.60


It is clearly explained in the table above that rapid increase from year to

year of Personal Accident premium.In 2010-11 period premium received was

increased. During 2006-07 the premium received was very low when compared

to other study periods.


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50

100

150

200

2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Personal Accident


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4.6. Engineering

The premium received for Engineering is being presented in

table 4.6

TABLE 4.6

Premium Received (Engineering)


From the above table and Chart, it could be observed that the growth of

Engineering was decreased during 2009-11 compared to previous years. there

was high


lakhs)

2006-07 29 3.64

2007-08 34 4.43

2008-09 19 2.28

2009-10 14 0.65

2010-11 19 0.85


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2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Engineering


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4.7. MiscTraditional Business

The premium received for Misc Traditional Business is being


TABLE 4.7

Premium Received (MiscTraditional Business)


lakhs)

2006-07 80 4.95

2007-08 115 5.71

2008-09 215 13.67

2009-10 129 9.68

2010-11 115 10.04



Misc

Traditional Business was decreased during 2009-11 compared to

previous years. There was increase during 2008-09.


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100

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700

2006-07 2007-08 2008-09 2009-10 2010-11

MiscTraditional Business


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4.8. Rural Sector Business

The premium received for Rural Sector Business is being presented in

table 4.8

TABLE 4.8

Premium Received (Rural Sector Business)


2006-07 178 2.93

2007-08 250 2.28

2008-09 137 1.41

2009-10 136 5.56

2010-11 205 5.30



Rural sector Business was fluctuated. There was high during 2009-10 and there

was low during 2008-09.


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10

20

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70

2006-07 2007-08 2008-09 2009-10 2010-11

Rural Sector Business


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4.9. MiscNon Traditional Business

The premium received for Misc Non Traditional Business is being


TABLE 4.9

Premium Received (MiscNon Traditional Business)


2006-07 1123 14.51

2007-08 733 16.76

2008-09 663 15.00

2009-10 809 15.86

2010-11 743 16.52


From the above table, it could be observed that the growth of Misc

Non Traditional Business was increased during 2010-11 compared to previous

years (2008-10)


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13.5

14

14.5

15

15.5

16

16.5

17

2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Misc Non Traditional Business


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2. CLAIM PAID

4.10. Fire Policy

The Claim Paid for Fire Policy is being presented in table 4.10

TABLE 4.10

Claim Paid(Fire Policy)


2006-07 01 0.02

2007-08 03 1.48

2008-09 05 22.22

2009-10 13 10.22

2010-11 07 3.37


From the above table, it could be observed that the claim paid for

above years was fluctuated. There was increase in2008-09 and decrease during

2006-07.


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0

5

10

15

20

25

2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Fire Policy


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4.11. Marine Cargo

The Claim Paid for Marine Cargo is being presented in table 4.11

TABLE 4.11

Claim Paid(Marine Cargo)


2006-07 4 1.59

2007-08 2 1.15

2008-09 - -

2009-10 - -

2010-11 - -


From the above table, it could be observed that the claim paid for

marine cargo was high during 2006-07. From 2009-2011 there is no transaction

held on.


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5

10

15

20

25

30

35

2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Marine Cargo


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4.12. Motor

The Claim Paid for Motor Policy is being presented in table 4.12

TABLE 4.12

Claim Paid(Motor Policy)


2006-07 331 46.25

2007-08 352 55.94

2008-09 359 68.15

2009-10 394 77.60

2010-11 394 61.30


From the above table and Chart, it could be observed that the claim paid

for above years was fluctuated. There was high paid during the year 2009-11

and low paid during the year2006-07.


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10

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50

60

70

80

90

2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Motor Policy


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4.13. Motor T.P

The Claim Paid for Motor T.PPolicy is being presented in table 4.13

TABLE 4.13

Claim Paid(Motor T.P)


2006-07 430 29.55

2007-08 503 39.12

2008-09 535 36.18

2009-10 653 59.35

2010-11 497 42.11


From the above table, it could be observed that the claim paid for Motor

T.P was increased 2009-10. The claim paid low was during 2006-07. We can

see that the claim paid for Motor T.P was fluctuated.


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. 0

50

100

150

200

250

2006-07 2007-08 2008-09 2009-10 2010-11

Motor T.P Policy


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4.14. Personal Accident

The Claim Paid for Personal Accident Policy is being presented in

table 4.14

TABLE 4.14

Claim Paid(Personal Accident Policy)


2006-07 30 6.02

2007-08 6 1.54

2008-09 33 10.04

2009-10 25 5.19

2010-11 34 7.49


From the above table and Chart, it could be observed that the claim

paid for above years was fluctuated. There was high paid during 2008-09 and

low during 2007-08.


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2

4

6

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10

12

2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Personal Accident


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4.15. Engineering

The Claim Paid for Engineering Policy is being presented in

table 4.15

TABLE 4.15

Claim Paid(Engineering Policy)


2006-07 - -

2007-08 2 0.09

2008-09 - -

2009-10 - -

2010-11 - -


From the above table, it could be observed that there is no transaction

held after 2007-08. In Engineering policy transaction held was only during

2007-08.


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2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Engineering Policy


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4.16. MiscTraditional Business

The Claim Paid for Misc Traditional Business Policy is being


TABLE 4.16

Claim Paid(MiscTraditional Business Policy)


2006-07 - -

2007-08 8 0.67

2008-09 5 1.22

2009-10 13 4.03

2010-11 7 1.53


From the above table and Chart, it could be observed that the claim paid is low

during 2005-06 only. No transaction held during 2006-07 and high paid during

2009-10 for Misc-Traditional Business Policy.


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0

500

1000

1500

2000

2500

3000

3500

4000

4500

2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Misc Traditional Business


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4.17. Rural Sector Business

The Claim Paid for Rural Sector Business Policy is being presented

in table 4.17

TABLE 4.17

Claim Paid(Rural Sector Business Policy)


2006-07 8 1.51

2007-08 6 5.16

2008-09 9 8.18

2009-10 5 1.07

2010-11 12 8.18


From the above table, it could be observed that the claim paid for above years

was fluctuated. There was high paid during 2008-09 and 2010-11 and there was

low paid during 2009-10.


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2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Rural Sector Business Policy


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4.18. MiscNon Traditional Business

The Claim Paid for Misc Non Traditional Business Policy is being presented

in table 4.18

TABLE 4.18

Claim Paid(MiscNon Traditional Business Policy)


2006-07 51 6.71

2007-08 77 6.81

2008-09 107 20.28

2009-10 137 12.83

2010-11 94 13.50


From the above table, it could be observed that the claim paid was low

during 2005-06 and very high during 2008-09 for Misc- Non Traditional

Business Policy.


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100

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400

2006-07 2007-08 2008-09 2009-10 2010-11

Growth

Misc Non Traditional Business Policy


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4.19

COMPARISONOFMA

JORPOLICIESANDC

LAIMS

PersonalAccident

Paid(Rs

inlakhs)

6.0

2

1.5

4

10.0

4

5.1

9

7.4

9

Received

(Rsin

15.6

6

17.2

3

19.9

5

28.4

5

36.6

0

Motor P

aid(Rs

inlakhs)

46.2

5

55.9

4

68.1

5

77.6

0

61.3

0

Received

(Rsin

356.9

0

380.5

8

358.6

4

444.4

9

524.6

3

Fire

Paid(Rs

inlakhs)

0.0

2

1.4

8

22.2

2

10.2

2

3.3

7

Received

(Rsin

33.5

2

24.5

4

27.0

8

31.4

3

39.9

2

Year

2006-07

2007-08

2008-09

2009-10

2010-11

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