Cholamandalam MS General Insurance Company Limited (Chola MS) is planning to close the current financial year with a premium of Rs 800 crore, an increase of around 17 per cent compared with last year.
Speaking to reporters after launching Click Easy, an initiative which allows customers to buy and renew Chola motor policies online, SS Gopalarathnam, managing director of Chola MS, said the renewal ratio for the car policy now was around 60 per cent, which would be increased by 5-10 per cent through this.
The company aims to sell five per cent of its retail policies online in 2010-11 and ramp up to 20 per cent in three years.
It would also add personal accident, home, health and other retail products between April and June. “Going forward, we will also allow endorsement through online, said Gopalarathnam.
Post 2010, it is also planning to launch mobile commerce, which would allow customers to buy and renew policies through their mobile phones.