Demand for travel insurance climbing

New Delhi: General insurance companies are looking at tapping travellers for higher growth. The travel insurance segment, pegged at Rs 250 crore at present, has registered a growth of 25% in 2005-06.
With the increased number of Indians travelling abroad, both for leisure and business, this segment is poised for a bigger growth during the current fiscal. According to rough estimates, the sector witnesses about 6-7 million trips outside India annually.
An official of Oriental Insurance Company said the claim ratio is relatively low in this segment, making it more lucrative for insurers. The average premium size is Rs 2,500-3,000 per person.
08/08/06 Mahua Venkatesh/Financial Express

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