Risk Management in Solar

Industry: Rooftop Solar

Jitendra Singh
VP Property Insurance
9th November 2016
 General Insurance Industry
Overview
No. of Players in GI Industry Market mix (figures in billion)

5 4
90
2
477
397
18

Public Players Private Players

Specialized line Monoline Public Players Private Players Others

ICICI Lombard
GI industry size 964 billion at FY2016
ICICI Lombard grew at 21.2% vis--vis Industry growth of 13.8% in FY2016
Market share stands at 8.4% at FY2016 as against 7.9% at FY2015
257 branches & 7,900+ head count
International Ops
1 representative in Dubai
Global presence in 30 countries through Network partners

*Industry numbers are as on FY2016 as per IRDA

disclosures2
 ICICI Lombard (GIC): Financials &
Key statistics
Revenue Growth (in millions) Policy Growth (No. of policies sold) Profit before Tax

83,075 6,907 7,077

13,867,000
71,341 69,140
11,222,000 5,202

FY'14 FY'15 FY'16

15,800,000
FY'14 FY'15 FY'16 profit before tax
Figures in (INR million)

3M 2017 Highlights
Consolidated position as Largest Private Sector General Insurer since 2003
First Private Sector player to become the Fourth-largest General Insurer
Growth @ 41% v/s Industry growth of 17%
INR 25.08 billion GWP, Market Share of 11%

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ICICI Lombard Strengths
One of the two general insurers to launch
long term comprehensive two wheeler
Innovation insurance in Q1-2016
1st company to introduce Indexed based
weather insurance in the country

Technolog
1st company to introduce Motor claim
y surveyor app & Fire risk inspection app

Leading settler* of Motor OD, Health claims

Speed in the Industry
Motor OD : 92% of claims settled in 30 days
Health : 99% of claims settled in 30 days

23% employees with 5+years ICICI Lombard

Human experience
capital ATD Best award for 3 consecutive years

*4 Public disclosure on company

websites
 IL partnering with Central
Government in policy formulation &
scheme implementation
Providing yield based insurance to farmers
cultivating crops in Khariff and Rabi seasons
Pradhan Madhya Pradesh (10) Odisha (5)
Mantri Fasal
Bima Yojana
Andhra Pradesh (6) Haryana (7)
Tamilnadu (10) UP ( 6)

Providing health insurance coverage to all

Rashtriya sections of BPL society including senior
Swasthya citizens
Bima Yojana Implementing in WB (6 districts), Odisha (8
districts) and Kerala (14 districts)
Cashless insurance program to provide
medical care during golden hour to road
Road Safety accident victims
Policy
Currently working at Gurgaon-Jaipur
Highway (196Km) and Ranchi Mahuliya
(160km)
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 Rooftop Solar Industry: Risks and
Insurance Solutions

6
 Rooftop Solar Value chain

Government & Regulatory Bodies

STAKEHOLDERS

Financial Institution / Funding Agency

Panel Manufacturer Developer O&M

Consumer (Industrial or Individual / Home Residential Complex)

Manufacturing Transit Installation Operational

Manufacturing & Movement of Erection of Generation of

testing of Project components project Electricity
ACTIVITY

components to Site components at Maintenance of

Site equipment
Testing & making
operational the
installation.
Establishing
Connectivity to
7 Grid
 Mapping of Risks Financial Institutions

Operationa
Manufacturing Transit Installation
l
Damage to Delay in Transit Material Default on
components Damage during Damage Loan
transit Theft & repayment
RISKS

Non Delivery Burglary Death &

Third Party Insolvency of
claims Loanee
Material
Damage
Theft &
Burglary
Comprehensive Marine Transit Erections All Loan Protect Cover
SOLUTIONS

Package for Panel Insurance Policy Risk Insurance PA cover for Loanee
Manufacturer Package Policy for
equipment

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 Mapping of Risks Panel Manufacturer / Developer /
O&M

Operationa
Manufacturing Transit Installation
l
Damage to Delay in Transit Material Maintenance
components Damage during Damage Performance
transit Theft & Risk &
RISKS

Non Delivery Burglary Product

Third Party Guarantee
claims

Comprehensive Marine Transit Erections All Panel Warranty

SOLUTIONS

Package for Panel Insurance Policy Risk Insurance Insurance

Manufacturer

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 Mapping of Risks Consumer
Operationa
Manufacturing Transit Installation
l
Third-party Fire & Natural
bodily injurity Catastrophes
& Property Breakdown
RISKS

Damage Weather related

Owner other risks such as lack of
property sun
Material
Damage

Erections All Customised

SOLUTIONS

Risk Insurance Package Solutions

Parametric Covers

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Risk Management solutions beyond Insurance

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Awards & Accolades

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Thank You