G. Srinivasan, chairman and managing director, New India Assurance Co. Ltd, talks about what listing of public sector general insurance companies means for the industry and customers, and how technology can help.
Public sector insurance companies have been given a go-ahead to list in the stock market. How will this bring focus on underwriting profits and on containing expenses?
The focus on underwriting profitability is irrespective of the listing of insurers. The market is extremely competitive and entry of new participants adds to the heat in the market. There are also issues relating to motor third-party segment, where the awards are increasing; but the pricing is not keeping pace with claims.
