Over the last few years there has been a paradigm shift in the Indian insurance industry. During the last couple of years alone, life insurance industry has grown at approximately 46% CAGR, with some of the private insurance companies crossing 100% CAGR growth mark. Industry veterans project this growth to be around 1500% over the next couple of years. The growth is primarily attributed to,
  • Swelling middle class
  • Young India with around 24 years of average age
  • Significant increase in the disposable incomes
  • Largely under/uninsured population
  • Reforms in pension and rural insurance
  • Occurrences of natural calamities at regular intervals
  • Exponential growth in the automobile industry
  • Increasing awareness of health insurance