India Insurance Market Outlook To 2015

Executive Summary

The Report titled India Insurance coverage Industry Outlook to 2015 provides an in-depth examination of the Indian insurance coverage sector. The report addresses certain insights on the market place dimension, insurance density, insurance coverage penetration, segmentation, trends and developments and long term outlook of the insurance industry in India. The report contains details on the marketplace dimension and aggressive landscape of existence, non-life, wellness, motor, marine and fire insurance coverage. All round, the report provides a thorough analysis of the whole Indian insurance coverage industry.

In the course of the period from economic year (FY) 2002-2010, existence premium grew at staggering CAGR of ~%. An improve of far more than ~% in development was registered in the economic yr 2007, when the premium enhanced from USD ~ million in 2006 to USD ~ million in 2007 and 2008. The development price slightly dipped in monetary yr 2009 but rose again in 2010. In financial yr 2010, the gross lifestyle insurance premium stood at USD ~ million. Non-existence premium has risen in India at a very previous pace. The premium enhanced from USD ~ million in FY2002 to USD ~ million in FY 2010 at a CAGR of ~%. An improve in total insurance was also registered with the premium rising from USD ~ million in FY2002 to USD ~ million.

In the potential, the penetration in scenario of existence insurance is anticipated to boost at a CAGR ~ % which would be minimal as compared to the development rate attained in the historical period. The penetration is anticipated to attain ~ % by FY2016. The penetration in scenario of non-existence insurance coverage would increase from ~ % in FY2010 to ~ % in FY2016.
Complete insurance penetration would also increase continuously till FY2016 and is expected to reach ~% by 2016.
In the fiscal year 2010, the daily life insurers paid nearly ~ lakhs claims on person policies, resulting in a total payout of USD ~ million, an improve of ~% from the payout in FY2009. Approximately, ~ claims had been repudiated (~ in the economic year 2009) for a sum of USD ~ million in FY2010.

Motor organization has ongoing to dominate the non-daily life insurance market with the industry share of ~% in 2009-2010. The marketplace share of wellness insurance coverage has improved from ~% in FY2006 to ~% in FY2010. The industry share of fire insurance has declined as properly from ~% in 2005-2006 to ~% in 2009-2010. The fire insurance premium registered a unfavorable 4 year CAGR of ~% from FY2006 to 2010. The contribution from marine insurance coverage sector has remained stagnant in excess of time at ~% following the de-tariffing of the sector in 2007.
Overtime, personal sector has elevated its market share in the complete expenditure on non-lifestyle insurance items. The contribution of private sector has elevated from ~% (USD ~ million) in the monetary yr 2006 to ~% in FY2010 (USD ~ million).

Public sector still continues to remain the greatest contributor to the expenditure on non-existence insurance items but the market share of the sector has declined significantly overtime. The market place share has declined overtime from ~ % in FY2006 to ~ % in FY2010. The contribution of expenditure was valued at USD ~ million in 2006 which has increased to USD ~ million in FY2010 but the growth in the expenditure underperforms the development in the expenditure in the private sector.
In scenario of non-existence insurance, New India is the marketplace leader with a marketplace share of ~ % and gross insurance coverage premium of USD ~ million in FY2010. United India Insurance coverage is the 2nd largest player with a industry share of ~ % and gross insurance coverage premium of USD ~ million followed by Oriental and National with a market place share of ~ % and ~ % respectively.

Micro insurance portfolio was worth USD ~ million for the monetary year 2010 in terms of gross insurance coverage premium revenue. It has roughly doubled itself from the previous many years premium earnings of USD ~ million. The contribution of LIC in the total premium was ~ % beneath micro-insurance and the rest ~ % was contributed by the private life insurance coverage businesses.

Scope of Study

The report entails thorough assessment and gives useful insights on the insurance coverage industry in India. The scope of the report consists of:
The market size of existence and non-lifestyle insurance coverage business in terms of gross insurance coverage premium published in India, 2002 to 2016
Life and Non-lifestyle insurance density in USD for India, 2002 to 2016
Life and Non-lifestyle insurance coverage penetration, premium as a percentage of GDP for the country, 2002 to 2016
Market place segmentation on the basis of Solution in India, 2010 and 2016
Marketplace size of motor, wellness, fire and marine insurance coverage on the basis of gross insurance premium created, 2006-2016
Competitive Landscape of the main lifestyle insurers and non-lifestyle insurers in India on the basis of gross premium composed
Competitive Landscape of the major motor, well being, fire and marine insurers in India on the basis of gross premium created, 2009-2010
Business Financials of key Lifestyle and Non-existence insurers along with their segment break up on the basis of gross direct premium earnings, 2009-2010
Useful Insights and Future Outlook of the insurance market in India.

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3 Responses to “India Insurance Market Outlook To 2015”

  1. Azalee 2 April 2013 at 7:28 am Permalink

    Just refused by Aetna in my hospitalization for depression in February. In 2005 I had been identified with ulcerative colitis but haven’t had problems since…diet change. I additionally have thyrois issues which is in check using Synthroid. Any chance on bothering least a higher deductible insurance policy?

  2. Shasta 10 May 2013 at 3:57 am Permalink

    I am 19. I missed one fourth of school, but I am beginning again for that Spring quarter. It begins on April sixth, however they stated my medical health insurance coverage under my mother expires today. The insurance coverage is Aetna plus they cover until I’m 23. However they need proof I’m full-time student. I gave my mother my Spring schedule, it had 12 models, and she or he stated they refused it. Why?

    However I am full-time again, why can’t I be covered? I provided all of them with proof.

  3. Brock 30 June 2013 at 4:41 pm Permalink

    I simply got quotes for any new Mazda 2. Full dental coverage plans around the Mazda 2 increases my total premium by

    $163. Full dental coverage plans quote for any 2007 Focus could be $187 increase. Full dental coverage plans quote for any Hyundai Elantra would create a $176 increase. I’ve found this very surprising. I figured used cars for sale were designed to lead to cheaper insurance policy.


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