Growth and Development of Insurance in India

Dubey, A R (2018) Growth and Development of Insurance in India. Indian journal of development research and social action, 14 (1). pp. 31-45.

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The Indian industry has seen sea change activities after economic liberalisation in Insurance sector in India. The changes brought new insurance companies, new products, price differentiation, and improvement in claim settlement, broken the monopoly of government companies and policy holders are protected by statue. The performance of Insurance companies has been improved in terms of premium and claim settlement. It has also created job opportunities in insurance sector. The economic reforms in Indian Insurance are really to be a boon for the Industry. The business of most of the insurance companies has been increasing significantly in the last ten years. The overall performances of all the private insurance companies are very satisfactory and they need to continue this pace to penetrate their market more and more Opening of the market and insurance sector for the private and foreign players has definitely brought in noticeable changes in the insurance industries in India. It has challenged the hegemony of LIC in life insurance and the GIC and its subsidiaries in the non-life insurance sector. Against this backdrop present per purports to examine the growth and development of insurance sector in India.

Affiliation: Skyline University College
SUC Author(s): Dubey, A R ORCID:
All Author(s): Dubey, A R
Item Type: Article
Uncontrolled Keywords: economic reforms, performance, Insurance
Subjects: A Business and Management > AE Economics
Divisions: Skyline University College > School of Business
Depositing User: Mr SUC Library
Date Deposited: 07 Jun 2022 16:28
Last Modified: 07 Jun 2022 16:28
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