Page 14 - Insurance Times January 2024

Speeding caused 71% of all road deaths last year
Attention Subscribers
Speeding accounted for seven out of every 10 deaths on Indian roads in 2022
as road fatalities hit a record 1,68,491 with another 4.4 lakh injured, in- Please renew your Subscription of The
cluding close to 2 lakh who were grievously injured. Insurance Times Journal to receive
copy of the journal uninterruptedly.
While wrong side driving was the second biggest killer among "traffic rule
violations", almost 67,000 persons lost their lives as they did not use the You can now pay by GPAY, Phonepe,
prescribed "safety devices" - helmets and seat belts. The annual data re- Paytm, Amazon, ICICI Pay, BHIM UPI
leased by the road transport and highways ministry showed that more than
50,000 two-wheeler riders died because they were not wearing helmets,
and twice that number were left injured.
Similarly, 16,715 deaths were linked to not wearing seat belts, which also
resulted in 42,300 injuries. Health and road safety experts have often termed
helmets as the "vaccine for head injuries".

India has the dubious distinction of having the highest number of road fa-
talities - with a share of around 11% of global deaths, although its share in
vehicular population was estimated to be less than 2%, which does not in-
clude non-motorised vehicles.
crease over Rs 15,625 crore in the first other companies that added more
eight months of FY23. The non-life than Rs 1,000 crore to last year's col-
industry's premium growth would have lections in the first eight months.
been 12.6% excluding health insurance
companies.
Illness non-disclosure main
Although the segment-wise premium
numbers are yet to be released, indus- reason for claim rejection
try sources said that a third of the pre- Non-disclosure of existing health con-
mium for general insurers comes from ditions is the main reason for insurers
health insurance, where growth has to reject claims.
been in the region of 25%. This means Around 25% of health insurance claims
that the overall health insurance share are rejected because the insured had
would now be closer to 40%. pre-existing conditions like diabetes or
In absolute figures, the company that hypertension, which were not disclosed Sashi Publications Easy Payment
Modes :-
added most to its premium income this at the time of purchase. Another 25%
year is Bajaj Allianz with a total pre- of claims rejections are because poli- i) UPI ID: SASHIBOOKS@KOTAK
mium of Rs 14,115 crore versus Rs cyholders were unaware of the terms ii) GPAY: 9830171022@okbizaxis
10,399 crore last year - an increase of of cover and claimed for OPD (outpa- iii) PAYTM: 9830171022@paytm
35%. tient department) or other treatment iv) NEFT: Current A/C
ICICI Lombard registered a premium excluded under the policy. A large 402120110000327 of 'SASHI
income of Rs 16,722 crore - an increase chunk of claims (16%) are rejected PUBLICATIONS PRIVATE
of Rs 2,325 crore (16%) over the first because the claimant did not revert to LIMITED, Bank of India, VVK
eight months of FY23. Public sector queries. A large chunk of claims (16%) Road Branch., Kolkata, India,
New India Assurance, which has the are rejected because the claimant did IFSC Code : BKID0004021
biggest premium book, grew 8% to Rs not revert to queries. v) Credit Card:
24,381 crore. PolicyBazaar, which has an insurance www.sashipublications.com
Tata AIG, Oriental Insurance, Star broking licence, analysed the data on For any query please call
Health & Allied, Go Digit, SBI General, two lakh health insurance claims be- 9073791022/9883398055
HDFC Ergo, Cholamandalam, Care tween April to September 2023, of www.sashipublications.com
Health and Reliance General were the which 30,000 were rejected.

The Insurance Times January 2024 13