“In September, we have seen a severe spike in Covid claim intimation. Claims intimated in September are close to 50 per cent of the total claims intimated since the start of the coronavirus (Covid-19) pandemic. However, from October, there is some tapering, which is a positive sign. We have already paid about 14,000 Covid claims out of 17,000 claims we received,” said Bhargav Dasgupta, MD&CEO, ICICI Lombard
“We are seeing a month-on-month improvement for the industry. The second quarter has been much better than the first and the industry, in aggregate, has grown slightly over the last year. As a company, our growth this year was roughly 8 per cent over the same period last year. Overall, things are looking positive in terms of growth,” he added.
While there is a lot of demand in the auto sector due to the festive season, the management said, whether or not the demand sustains is something that needs to be watched. The concern, which the management sees at this point in time, is a second spike in the number of Covid cases.
The insurer’s shares closed 0.08 per cent lower at Rs 1,257.50 on the BSE.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.