HDFC ERGO cuts motor premiums by up to 15% for existing and new customers

Insurer says it gained from cost rationalisation on account of GST, and from its own cost optimisation measures, which helped it pare premiums

HDFC ERGO General Insurance has announced a revision in its motor insurance pricing, which the company says will benefit existing and new customers nationwide, as premiums will reduce by up to 15 per cent.

It is the receipt of various benefits that have accrued through internal and macro policy changes that warranted this reduction by the third largest private non-life insurance provider.

With the commencement of the Goods and Services Tax (GST) on July 2017, there has been a rationalisation of costs, which the company says it has benefitted from. Additionally, the insurer's cost optimisation initiatives such as automated processes,