Jaipur-based Shriram General Insurance , which is primarily into motor insurance with over 90 per cent of the business coming in from this vertical, is expecting around Rs 750 crore underwriting profit this fiscal as its expects gross written premium income to touch Rs 2,200-2,300 crore. "Our focus has always been profitable growth. One can do aggressive underwriting and forget profit. Currently the general insurance firm employs 2,800 of which 1,500 are sales agents.In the first year, they plan to target 600 talukas. The next target will be to reach areas with a population of 20,000 to 1 lakh, he said, adding the distribution will be through electronic kiosks.Though primarily a motor insurer that too commercial vehicles as no one was writing motor policies--it was the only insurer to underwrite only motor policies, Shriram General also offers travel, home and personal accident covers in the retail space and customised fire, engineering, marine products in the corporate space.It services the over 40-lakh outstanding policies through 200 branches across 24 states.

Source: Economic Times November 09, 2021 13:36 UTC