Robust sales of bikes, cars in Octrevive motor insurance business

Chennai: Robust festive demand and a gradual rise in freight volumes revives motor insurance business in October, 2020. After a muted business in the first half, impacted by the outbreak of Covid-19 pandemic, insurers say fear of contracting the virus through public transport has led to surge in mid-segment cars and two-wheelers sales, further leading to revival in motor insurance business.

For the industry, premium collections were driven by a 20% yoy growth in private car business and a 15% yoy growth in two-wheeler business. “The share of business from commercial vehicles is down from 30% to 15% as compared to March levels. However, the share of business from private cars and two-wheelers has filled the gap,” says Aditya Sharma, business head of motor, Bajaj Allianz General Insurance.

SBI reported a 48% yoy growth in motor led by 94% yoy increase in purchase of third party (TP) policies.

ICICI Lombard

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Business Intel: Downshift pivots to new model, separating bikes from cafe | Business Local

Downshift Bikes & Brews, a bike shop and cafe in downtown Roanoke, is changing its business model.

Owner Stephen Ambruzs said Downshift will continue to service bicycles, but not sell them, at a new space at 210 Fourth St. S.W. When safer to do so, it will resume hosting group rides and events. The cafe and coffee shop are closed for now, but some favorite menu items will eventually be available through a partnership with Golden Cactus Brewing.

The changes are the result of several factors, Ambruz said. The community-building aspect of the business provided by the coffee shop and group rides has been disrupted by the COVID-19 pandemic. There’s an extremely limited supply of bikes, parts and accessories given this year’s boom in cycling. He’s also juggling becoming a father.

“We needed to change what we were doing in order to both be sort of current with how

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