Knowledge Based Guidance for Sustainable Growth...

Insurance

The insurance sector of India has evolved into a multi-faceted industry over the years. After its liberalisation about a decade ago, the industry has seen the entry of some of the largest multinational insurance companies in the world. By 2012, the industry was estimated to be about USD 72 billion. Due to the relatively low penetration and insurance density in the emerging markets (with only about 0.2% of the population covered under insurance schemes such as Mediclaim) the potential for growth in this industry is endless.

In the post-recession world, the industry is faced with new challenges to improve sustainability, to manage risk while navigating through new regulatory policies and the focus is shifting towards a sustainable and profitable growth and innovation will play a key role in the expansion of the industry. The entry of private companies in this sector is likely to change the scenario drastically.

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