Kondamudi Hanumanatha Rao, Kotha Anil Kumar
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Kondamudi Hanumanatha Rao1*, Kotha Anil Kumar2
1Assistant Professor, Laqshya College of Management, JNTUH, Khammam
2Associate Professor, Laqshya College of Management, JNTUH, Khammam
Volume - 4,
Issue - 4,
Year - 2013
India's life insurance market has grown at more than 40% annually. But the ratio of insurance premium to GDP is around 4%. Penetration is very low, practically zero in the unbanked segment. For the industry, premium income is likely to go up sharply. A well developed and evolved insurance sector is a boon for economic development of a country. The insurance sector was a significant contributor to the capital market thereby lending support to the stability of capital markets. It provides long-term funds for infrastructure development and concurrently strengthens the risk-taking ability of the country. There are certain factors that need to be considered by the Indian insurance industry to ensure a seamless growth in business like distribution channels, focus on financial inclusion. The present study is on the trends in the insurance sector in premium underwritten and insurance density and penetration.
Cite this article:
Kondamudi Hanumanatha Rao, Kotha Anil Kumar. A Study on Penetration in Indian Life Insurance Sector. Asian J. Management 4(4): October –December, 2013 page 282-284.