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- W4384447654 abstract "The goal of this study is to establish a strong foundation groundwork for the expansion of the auto insurance market in India and its impact on the nation's auto industry. It is possible to determine the risks posed by the automobiles that Indian insurance firms insure and use to review the coverage of automobile insurance and the premium price to be charged. This article also revives the important variable that affects risk insurance and the impact of magnitude on risk measurement, while remaining open to the possibility that risk factors may be more that is not assumed during the calculation process of premium. The most popular and efficient way to safeguard personal property is through motor vehicle insurance, which has garnered a lot of interest. Understanding the present state of the Indian auto insurance market is essential. This chapter also reviews the effect of the Pandemic on automobile sales as well as in the insurance industry. This article examines methods for achieving targeted product advertising and regionally-specific motor vehicle insurance (VMI) in India. The authors carried out this research based on reviewing some articles and some panel discussion that were experts on motor insurance. Secondary data has been taken from different sources of government cites and it also relates to changes in the cost of auto insurance. In India, BS VI is in effect, while BS V has been abolished. The study found that even though these may not accurately reflect the risk of being insured, the majority of insurers are even utilizing traditional rating tools. Additionally, it was discovered that insurers know some basic tools for ratings. The essay examines the impact of India's VMI policy on its economy and motor output in comparison to other developed nations. The article also emphasizes the role of the VMI industry in the automobile industry." @default.
- W4384447654 created "2023-07-16" @default.
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- W4384447654 date "2023-07-14" @default.
- W4384447654 modified "2023-10-17" @default.
- W4384447654 title "Motor Vehicle Insurance Industry in India" @default.
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- W4384447654 doi "https://doi.org/10.1002/9781394167944.ch2" @default.
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