bangalore with the insurance regulatory development authority irda allowing general insurance companies to vary the terms and conditions of standard policies bharti axa general insurance bagi is examining the possibility of launching a new motor insurance policy which would provide the insured the option to get a replacement car even as the insureds car undergoes repairs in the event of an accidentbagi officials said that while the premium on such a policy would be higher than conventional motor insurance policies the market segment being targeted is the either the busy executive or those who find it difficult to commute around without their cars the companys overseas partner axa already has a similar policy in force across different geographiesaccidentrelated information in india is normally hard to come by given the fact that many insured persons do not report such incidents to the insurance companies as they stand to lose the no claim bonus status which would make renewal premium payments a tad costlierin the initial phase we are looking at roping the standard service agencies then perhaps we will look at enrolling repair garages which are frequented by people motor insurance continues to be a key segment as it accounts for close to half of the general insurance market in the country said milind chalisgaonkar ceo bagi in fy08 general insurance companies mopped up over rs 28000 crore by way of premium collection