Expert Zone

Straight from the Specialists

Life insurance still struggling, non-life continues to grow

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

The lean half of the financial year for insurance sales is behind us and the numbers for the life insurance vertical are not impressive. But the general insurance or non-life vertical has shown a healthy growth rate. Highlights are given below.

LIFE INSURANCE
– New business premium collection overall dipped by 4 percent in the first half of the year

– LIC continues to garner 75 percent of new business premium collected. Their premium collection dropped by 4 percent though, when compared to the first half of last year.

Selling insurance through kirana stores

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

India is considered to be a large untapped market for insurance products. There seems to be enough scope for improvement on the insurance density and insurance penetration counts for the country. While this is true, the challenge lies in reaching out to the large population in the rural areas where the traditional financial distribution channels just don’t make economic sense.

Life insurance business remains almost stagnant

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

The life insurance industry in India is still struggling on the growth front while the general insurance industry seems to be doing well. The life insurance industry grew by a marginal 1.4 pct while the general insurance industry grew by 18.3 pct. This is based on data released by Insurance Regulatory and Development Authority (IRDA) for the first two months of the financial year.

Another case of insurance regulation – good or bad?

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

Motor insurance is the only insurance product in India mandated by law. This means that any one owning a vehicle is bound under the Motor Vehicles Act, 1988 to have a third-party motor insurance policy.

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