One spine from quote to claim — the premium value, the conversion, the days, and the leakage at every handoff. Where a quote becomes an underwritten policy, an in-force book, collected premium and a settled claim (and where value leaks).
₹412 Cr is leaking or stuck across the 20-day policy-to-claim cycle — the largest single pool is ₹265 Cr at Collect. Tighten claims leakage (fraud, waste & abuse) and the aged premium book to protect the combined ratio and pull cash forward.
6 of 6 headline metrics improving vs prior · still off target: Gross Written Premium (GWP) ₹5,548 Cr vs ₹6,100 Cr, Claims Settlement TAT (days) 6d vs 5d, Claims-to-Cash Cycle (days) 34d vs 28d
Drive the turnaround to <110%: health pricing, motor-OD discipline, EOM cap & fraud control.
FY25 combined ratio worsened to 112% (from 106%) as net incurred claims jumped +23%; the ~₹471 Cr underwriting loss is only covered by investment income.
Each lapsed policy is renewal premium that won't repeat — retention is the base for profitable growth.
Each lapsed policy is renewal premium that won't repeat — retention is the base for profitable growth.
Each lapsed policy is renewal premium that won't repeat — retention is the base for profitable growth.
The policy-to-claim cycle for the insurer, end to end. A quote becomes an underwritten & issued policy, the policy becomes an in-force serviced book, servicing becomes collected premium, and premium ultimately funds a settled claim — 20 daysacross the cycle, with ₹412 Cr leaking or stuck across the handoffs. Each stage links to the 360 that owns it and the records to work. (Renewals and group / corporate treaties run on a steadier cadence; motor & retail health issue near-instantly.)
Premium flowing through each stage, the conversion from the prior stage, days in-stage, and the leakage at the handoff.
The biggest levers are policy servicing and premium collection & claims settlement — issuance is near-instant; the collection lag is the quiet one.
Each leak quantified, owned, and linked to the 360 and the records that fix it — the working-capital recovery list.
Quote-to-bind drop-off + risk-selection leakage
Reinsurance cession + mid-term lapse / endorsement leakage
Aged premium receivable (broker/group/govt) >60d
Read this: the two biggest pools are ₹265 Cr of claims leakage (fraud, waste & abuse) at claims and ₹62 Cr of aged premium receivable (broker / group / govt) at collection. Tightening SIU & fraud control and premium collections protects ~₹327 Cr — straight to the combined ratio and cash.
Value, conversion, days, leakage and owner — drill to the owning 360.
| Stage | Value | Conv. from prior | Days in-stage | Leakage | Owner | Drill |
|---|---|---|---|---|---|---|
| 📝 Quote & Risk Assessment | ₹6,400 Cr | — | 2d | ₹45 Cr | Underwriting · Distribution | → |
| 🛡️ Underwrite & Issue | ₹5,548 Cr | 87% | 1d | — | Underwriting · Policy Admin (BaNCS) | → |
| 🤝 Policy Servicing | ₹5,408 Cr | 98% | 5d | ₹40 Cr | Servicing · LEO · IRIS | → |
| 💳 Premium Collection | ₹3,753 Cr | 69% | 6d | ₹62 Cr | Finance · Premium Collections | → |
| 🩺 Claims (FNOL → Settle) | ₹2,961 Cr | 79% | 6d | ₹265 Cr | Claims · SIU · Fraud Control | → |