BSAL Assignment

Car Insurance
Group SB 7
Dwaipayan Mukherjee 15F519
Prashant Kumar Verma 15F535
Reeturaj Bannerjee 15F538
Sapan Dinesh Khanna 15F543
Siddharth Varma 15F549

AGENDA
Background

Auto Insurance in India

Queries

Analysis

Age
Gender
Relationship b/w
Relationship b/w
Relationship b/w
Relationship b/w
Relationship b/w
Relationship b/w
Type & City
Final analysis

Age, Gender & State

Age, Cover Type & Channel
Channel, City & Gender
Car Insurance & Models
Models, Covers & Payments
Manufacturing Model, Cover

Conclusions
Possibility of Lead Generation
Geographical Distribution

Background

Auto Insurance in India

Auto Insurance in India deals with the insurance covers for the loss or damage
caused to the automobile or its parts due to natural and man-made calamities. It
provides accident cover for individual owners of the vehicle while driving and also for
passengers and third party legal liability. There are certain general insurance
companies who also offer online insurance service for the vehicle.
Auto Insurance in India is a compulsory requirement for all new vehicles used
whether for commercial or personal use. The insurance companies have tie-ups with
leading automobile manufacturers. They offer their customers instant auto quotes.
Auto premium is determined by a number of factors and the amount of premium
increases with the rise in the price of the vehicle. The claims of the Auto Insurance in
India can be accidental, theft claims or third party claims. Certain documents are
required for claiming Auto Insurance in India, like duly signed claim form, RC copy of
the vehicle, Driving license copy, FIR copy, Original estimate and policy copy.

Queries

What kind of segments generate better leads?

What would be a good target segment? And which is a
bad target segment?

Analysis

Age
Out of the 7702 records
considered, it is seen that
27. 12% of the population
belongs to the age group
of 30 40 years
The second most populous
age group is 40 50,
accounting for 21.47%

 Another aspect that

has been considered
Gender
is whether the gender
affects the lead
generation process for
auto insurances
It is seen here that
almost 72% who have
an insurance are
Males & women
account for just 28%

Relationship
b/w
Age,
After having analyzed
Gender
& State
age & gender
specifically, we try to
understand the two
relative to the
geographic areas
mentioned
It is seen that the
biggest cluster is
formed in the belts of
NCR which largely
consists of Males who
are 25 to 50 years old
This is an indication
that this is a lucrative
market that should be
targeted by the
insurance salesmen

Relationship
b/w Age, Cover
Type
We have
to see
&tried
Channel

which insurance cover &

which channel is
preferred & how this
varies with respect to
age groups

It is seen that there is a

clear preference for a
Comprehensive
Insurance cover which
is handled by a Broker.
The age group which
caters to this ranges
from 30 40
The least preferred is a
Comprehensive
Insurance Cover from the

Relationship
b/w Channel,
We
haveGender
tried to
City,

understand if the channel

of preference for buying
auto insurances varies
with respect to City &
Gender
The results validate the
earlier stats and the
biggest clusters being
Males preferring to buy
from Brokers in Delhi &
Bangalore areas. Hence it
is confirmed that this
cluster is valuable
The worst cluster seems
to be the one of Females

Relationship
b/w Car
Insurance &
Models
It is seen that the
highest number of car
insurances sold are in
New Delhi followed by
Bangalore
The most number of
insured cars in Delhi
are Tata Indica &
Wagon R. In case of
Bangalore also the
statistic stays true

Relationship
b/w Models,
Cover &
Payments
Here we analyze the
relationship between
the Model, Frequency of
Payment & the type of
Cover
It is seen that the
highest preference is
for Annual frequency of
payments covered
comprehensively

b/w
Manufacturing
Model, Cover
This visualization is to
Type & City
understand which cluster
should be targeted
keeping in mind the
manufacturing model,
insurance cover type &
the city

The largest cluster seems

to be from the New
Delhi. The car insured the
most number of times is
Tata Indica & the
insurance type is

Final Analysis after taking into consideration

Gender, Age, State, Channel, Payment Frequency,
Type & Model

Age : 30 -40
Channel : Broker
Gender : Male
Mft Model : Tata
Indica
Payment
Frequency :
Annual
State : NCR

Conclusions

Possibility of Lead Generation

Good Segment

Bad Segment

Age Group : 30 -40

Age Group : 60 - 70

Channel : Broker

Channel : Direct

Gender : Male

Gender :Female

Car Specifications : 1200 cc & above

Car Specifications : 1100 cc & above

Frequency of Payment : Annual

Frequency of Payment : Monthly

State : NCR

State : Gujarat

Geographical
Distribution

Thank You