Use Case

July 3, 2024

How Reliance leverages Vehicle Insurance Data to minimize Financial Loss and maintain a Competitive Edge

Let's take a simple look at how Reliance General Insurance Company Limited (RGICL) uses insurance data to make better decisions for helping their business.


Reliance General Insurance Company Limited (RGICL) has firmly established itself as a leader in the Indian general insurance market, known for its innovative solutions and customer-centric approach. Since its inception in 2000, RGICL has been committed to providing comprehensive and reliable insurance products tailored to meet the diverse needs of its customers. FY2022-23 was a landmark year for RGICL, as it crossed the significant ₹10,000 crore milestone in Gross Written Premium (GWP), reporting nearly 10% growth to reach ₹10,340 crores compared to ₹9,410 crores in FY 2021-22. This robust financial performance reflects the company's disciplined risk management and adaptability to changing market dynamics. RGICL's extensive reach, with over 139 branch offices and more than 28,900 intermediaries, is complemented by a multi-distribution model that includes Bank insurance, Agency, Broking, Direct Channels, and Digital tie-ups. The company's diverse product portfolio includes popular motor insurance plans with extensive coverage options and a high claim settlement ratio, supported by a vast network of cashless garages.

RGICL's vehicle insurance offers comprehensive coverage including third-party liability, own-damage cover, and a range of add-ons like zero depreciation and engine protection. The company has embraced digital transformation, offering customers the convenience of purchasing and managing policies online. Recognized for its excellence with awards such as the 'Best General Insurance Company' at the ABP News-BFSI Awards in 2019, RGICL continues to drive growth and excellence, backed by the dedication of its employees and the unwavering support of its shareholders.Now, let's dive into some insights (just for learning purposes!) on how Reliance General Insurance might analyze their data to better understand their Insurance practices.

About Dataset

Let’s Inspect our dataset.The vehicle insurance dataset contains (35067 rows and  65 columns) providing information about dealer, insurance policy, consumer, vehicle, financial, tax and registration.

1. Dealer and Consumer Information

Transaction Information
Dealer Name Zone State Location Consumer Policy Type
Spice Route Auto Haven Central Madhya Pradesh Gwalior Mr. GUNDE GOWDA D J TP Renewal
Lotus Lake Auto Hub South Telangana Suryapet Mr. SHARANAPPA GOUD TP Renewal
Green Valley Drives West Gujarat Surat Mr. REVANEPPA H MALAGI TP Renewal
Indigo Autos North-East Nagaland Kohima Mr. RAVI S K TP Renewal
Sunflower Auto World North Jammu and Kashmir Srinagar Mr. PRAKASHA S N TP Renewal

2. Vehicle Details

Transaction Information
Brand Product Vehicle Type Fuel Type Transmission Addon Product
Mercedes-Benz A-Class Hatchback Petrol Manual Transmission Yes
MG Motor Astor SUV Petrol CVT (Automatic) Yes
BMW 2 Series Gran Coupe Sedan Petrol Manual Transmission Yes
Datsun redi-GO Hatchback CNG Manual Transmission No
Datsun GO+ MPV Petrol Manual Transmission Yes

3. Policy Information

Transaction Information
Policy Date Policy Created Date Policy Effective Date Policy Expiry Policy Term (Months)
ICICI Lombard General 25-02-2020 19-01-2018 19-08-2018 7
ICICI Lombard General 05-08-2020 03-01-2018 03-10-2020 33
ICICI Lombard General 01-02-2023 03-01-2018 03-08-2018 7
ICICI Lombard General 18-01-2021 03-01-2018 03-01-2020 24
ICICI Lombard General 13-09-2020 04-01-2018 04-01-2020 24

4A. Premium Details

Transaction Information
Insurance Declared Value Addon Premium RTI Premium OD Premium Third Party Liability PA Cover
613784 7366 0 18371 12548 220
613784 7366 0 21123 12548 220
450734 7483 0 17586 12548 220
299716 0 0 3694 12548 220
577040 7271 0 20205 12548 220

4B. Coverage Liability and Taxes

Transaction Information
Legal Liability Liability Service Tax Gross Premium
50 12818 5614 36803
50 12818 6110 40051
50 12818 5472 35876
50 12818 2972 19484
50 12818 5944 38967

5. Payment Details

Transaction Information
Payment Mode Date of Cheque Bank Bank City

6. Insurance Package and Financing Information

Transaction Information
Package Financer

7. Vehicle Registration and Pricing

Transaction Information
Road Tax Registration Charges On-road Price
2824390 13570 16973960
1739260 20000 10459261
1739260 20000 10459261
1739260 20000 10459261
1739260 20000 10459261

Dealer Information Columns

Transaction Information
Field Description
dealer_name Name of the dealer
zone Geographical zone
state State information
location Location details of dealer

Policy Information Columns

Transaction Information
Field Description
policy Name of the insurance policy
pol_id Policy ID Number
dt_pol_create Date when policy is created
dt_pol_effect Date when policy will be effective
policy_term_month Policy term in months
dt_policy_expiry Policy expiry date

Consumer and Vehicle Details Columns

Transaction Information
Field Description
consumer Name of the consumer
pol_type Type of policy (New, Renewal)
brand Brand of the vehicle
product Vehicle product name
add_on_prod Additional Products associated with policy
vehicle_type Type of the vehicle (hatchback, sedan, etc.)
fuel_type Type of the fuel (Petrol, CNG, etc.)
transmission Type of transmission (Automatic, manual)

Premium and Coverage Columns

Transaction Information
Field Description
insurance_declared_value Declared value for insurance
add_on_premium Premium for additional products
rti_premium Premium for Return to Invoice coverage
od_premium Premium for Own Damage coverage
third_party_liability Premium for Third-Party Liability coverage
pa_cover Personal Accident cover premium
legal_liability Legal liability premium
liability Total liability premium
service_tax Service tax amount
gross_premium Gross premium

Payment Details

Transaction Information
Field Description
payment_mode Mode of payment (Installment, Direct Debit, Other)
dt_cheque Cheque Issued Date
bank Name of the Bank
bank_city City of the Bank

Insurance Package and Financing Information Columns

Transaction Information
Field Description
package Insurance Package (ADDON, Standard, RTI)
financer Financer details
fin_branch Branch of the financer

Vehicle Registration and Pricing Columns

Transaction Information
Field Description
road_tax Road tax amount
registration_charges Registration charges
on_road_price On-road price of the car

How Reliance General Insurance Uses Vehicle Insurance data

To start with the analysis of insurance sector, it is necessary to follow the 4 factors of Data Analysis and that are : 

1. Identify the users or stakeholders for the analysis.

2. Design Empathy Map to define Users' Goals and Challenges or pain points.

3. Identify Metrics or KPIs Matter the Most.

4. Understand the Objectives and Goals.

5. Ask Business Questions

I know it looks a bit overwhelming, that's why in this article, we'll lay the foundation for a top-notch insurance analysis.

Step 1: Identify the users or stakeholders for the analysis

Define the User or stakeholder  who will use the vehicle insurance analysis data story. In our case, We’ll use an Insurance Manager. Recognizing their diverse needs, challenges, and priorities becomes the cornerstone for tailoring an effective data story. 

User Persona: Business Analyst


  • Assessing and managing risks associated with insurance policies.
  • Developing and implementing insurance strategies to minimize financial loss.
  • Evaluating and underwriting insurance applications.
  • Overseeing claims processing and ensuring timely settlements.
  • Analyzing market trends and competitor offerings to stay competitive.


  • Access to comprehensive data on insurance claims, policyholders, and market trends for analysis and decision-making.
  • Tools for risk assessment, underwriting, and claims processing.
  • Regular updates on policy performance, claim status, and market dynamics.
  • Training and resources to stay updated on changes in insurance regulations and industry best practices.
  • Collaboration with actuaries, underwriters, and claims adjusters to effectively manage risks and claims.


  • Balancing risk assessment to determine appropriate premiums without pricing out potential customers.
  • Handling complex claims and ensuring fair and timely settlements.
  • Adapting to changes in insurance regulations and compliance requirements.
  • Competing with other insurance providers in a crowded market while maintaining profitability.
  • Addressing fraudulent claims and ensuring the integrity of insurance processes.

Step 2: Design Empathy Map

To truly connect with the experiences and expectations of Business Analysts, the creation of an empathy map is invaluable. This visual tool allows for a deeper understanding of the emotions, aspirations, and pain points of users. 

By empathizing with their perspectives, we can design a data story that not only meets functional requirements but also resonates with the human elements of their roles.

Step 3: Identify the Key Performance Indicators (KPI’s)

The heartbeat of any analysis lies in KPI’s and their Metrics. It's crucial to identify the KPIs that matter most to achieving the defined objectives and by focusing on the most relevant metrics, organizations can gain actionable insights into their insurance policies. 

Transaction Information
KPI Name Formula Description
Average Policy Term Sum of policy term months / Total number of policies The average duration of insurance policies in months.
Average Premium per Policy Sum of Gross Premium / Total Number of Policies The average premium cost for the policies issued.
Add-on Uptake Rate Number of Policies with Add-ons / Total Number of Policies * 100 The percentage of policies that have add-ons attached.
Renewal Rate Number of renewed policies / Total number of policies * 100 The percentage of policies that are renewals out of the total number of policies.
Payment Mode Preference Number of Policies per Payment Mode / Total Number of Policies * 100 The percentage preference of payment modes among policyholders.

Step 4: Understand the Goals & Objectives of User

Now, on the basis of Empathy Map and KPI’s, we need to define our goals and objectives of the Users. So, that it will align with the data story functionalities to ensure decision making. Here are the Key Objectives & Goals :

Objective : 

Enhance portfolio performance by targeting high-value segments and refining risk assessment models. Utilize customer feedback to enhance product offerings and service quality, aiming for higher satisfaction rates. Strengthen team leadership through continuous training and mentoring, fostering innovation and collaboration to achieve performance goals.

Goals : Drive portfolio growth by increasing policy creation volume, enhancing conversion rates, and boosting policy renewal rates for premium revenue growth. Foster a high-performance culture within the team through skill enhancement for agents and analysts. Ensure strategic alignment with broader business goals by synchronizing team activities.

Step 5 : Ask Business Questions

Beyond KPI’s, organizations must engage in business-driven inquiry. This involves asking strategic questions that directly align with overarching business objectives. 

  1. What is the trend of policy creation over the time? Monthly and Yearly?
  2. What is the total insured value yearly?
  3. How are the average gross premium and policy counts across different policy types?
  4. What is the distribution of policies by zone?
  5. How can the gross premiums be compared across different states?
  6. How are different brands in terms of average insurance premium?

Q.1. What is the trend of policy creation over the time? Monthly and Yearly?

  • Metric: Policy Count, Year , Month
  • Observations: some text
    • In 2021, the number of policies created spiked up and In 2022, it decreased very badly and started increasing after that. 

Q.2. What is the total insured value yearly?

  • Metric: Total Insured Value, Year
  • Observation:some text
    • There is not much difference in total insured value of vehicles. Although the number of policies created in 2021 spiked and dropped in 2022, the difference is minimal.

Q.3. How are the average gross premium and policy counts across different policy types?

  • Metric: Average Gross Premium, Policy count
  • Observation:some text
    • In terms of average gross premium, ‘New’ vehicles are leading the chart followed by TP Renewal and NTP Renewal, while in terms of counts, ‘TP Renewal’ leads the chart followed by New and NTP Renewal.

Q.4. What is the distribution of policies by zone?

  • Metric: Policy Count
  • Observations:some text
    • The South region has the highest share of policies created with 22.2%, followed by West, North, Central and East, while regions of North-East and Islands contributed very less.

Q.5. How can the gross premiums be compared across different states?

  • Metric: Gross Premium
  • Observation:some text
    • Average gross premiums across states are quite similar but states like Gujarat, Karnataka, Uttar Pradesh, Haryana, Maharashtra, Telangana had the large value as outliers.

Q.6. How are different brands in terms of average insurance premium?

  • Metric: Insurance Premium
  • Observation:some text
    • In terms of average insurance premium, Nissan, Toyota and Honda are the brands with high values. Hyundai had taken the last place for average insurance premium.


 With this analysis, we can understand the general overview of the vehicle insurance industry in India. As we can observe, the number of policies changed over the years, with a spike in 2021 and dip in 2022, but that had minimal effect on total insured value. Further, we analyzed how different regions and states are contributing to the overall sales of insurance policies. In addition, we analyzed the average insurance premium across different brands in our dataset to get an idea of brands positioning.

Ready to get started?

Join Data Analysts who use Super AI to build world‑class real‑time data experiences.

Request Early Access