Property, health and motor insurance growing at very decent pace: Jagjeet Singh

economictimes.indiatimes.com:

«We are seeing huge consumer demand on the retail side and, of course, on the wholesale also where you see industry is progressing in the right direction, lot of projects are to offer, so property lines is also showing very encouraging signs of late. So, all in all, a very interesting time ahead as far as the GI goes,» says Jagjeet Singh, Kotak General InsuranceThe industry is also looking upwards, the data shows that things have turned around. Is this momentum sustainable in your view? Yes, if I talk about the industry, this is something which actually is coming to a next level.

I think the trajectory is certainly up. We are seeing huge consumer demand on the retail side and, of course, on the wholesale also where you see industry is progressing in the right direction, lot of projects are to offer, so property lines is also showing very encouraging signs of late. So, all in all, a very interesting time ahead as far as the GI goes.But help us understand the breakup a bit more. What segment is doing well? Is it the health? Is it the motor insurance and is there any pocket that you can also divide in terms of which segment is doing better geographically as well? I would say in my 22 to 23 years of experience I have never seen that all line of businesses firing all cylinders.

So, if you see post COVID, the inclination toward buying health insurance was very high. People have actually run out of their hard-earned money during COVID. Post COVID, they realised that health is no more an option.

It is a necessity. So, the health continues to remain a growth trajectory and, of course, it continues to remain for coming time as well. This year what we are seeing that motor insurance is also taking a new shape.