Strong distribution helps private insurers

Strong distribution helps private insurers

The insurance industry in India is a fast growing market with life dominating value and non-life taking pole position for volume. Currently, 68 companies operate in the country. Since the industry was opened to private sector in 2001, it has witnessed several changes (regulatory and structural) and has undergone transformation leading to increased penetration, higher coverage, rise of multiple channels (agency, bancassurance, broking, direct, corporate agency, etc.,), superior reach, and intensifying competitiveness.

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