| Summary: | This project was undertaken to analyse the profitability of motor insurance business in
Singapore.
Compared to most other classes of general insurance business, motor insurance has
generally been found to be unprofitable. Furthermore, this class of business has given
rise to the most number of disputes being referred to the Insurance Ombudsman
Committee (IOC) for assistance. Hence, this has prompted our group to undertake this
area of study.
This project provides an insight and summary of the past and predicted future
performance of the motor insurance industry by analysing various factors such as the
pricing system, gross premium income, incurred loss ratio, services provided, and
external factors.
The contents of this project is relatively comprehensive and is thus suitable to be read by
any person who has an interest in the subject.
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