General Insurance - Channel-Specific Product Map An Important Nuance: ICICI Securities

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ICICI Securities Report

General insurance has significant channel-specific product dependency, perhaps more than life insurance. This is a unique feature with nuances, which we try to underline in this report.

Specific channels have always remained relevant for specific products. As such, direct-to-consumer may not always be the best strategy to achieve all-round growth. This holds true more for multi-line insurers who have to draw upon all possible businesses to optimise their growth combined ratio and return on equity.

High market share and profitability of intermediaries like Maruti Suzuki India Ltd. and Hero MotoCorp Ltd. highlight the strength of insurance intermediaries. However, point-of-sale is targeted to increase penetration and has potential to influence the distribution landscape for insurance.

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