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Life Insurance in India, Key Trends and Opportunities to 2019

  • September 2015
  • -
  • Timetric
  • -
  • 261 pages

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Synopsis
Timetric’s 'Life Insurance in India, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Indian life insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of Indian economy and demographics and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure.

Summary
Timetric’s 'Life Insurance in India, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Indian life insurance segment, including:

- The Indian life insurance segment’s growth prospects by life insurance category

- Key trends, drivers and challenges for the life insurance segment

- A comprehensive overview of India's economy and demographics

- The various distribution channels in the Indian life insurance segment

- Details of the competitive landscape in the life insurance segment in India

- Details of regulatory policy applicable to the Indian insurance industry

Scope
This report provides a comprehensive analysis of the life insurance segment in India:

- It provides historical values for the Indian life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key categories in the Indian life insurance segment, and market forecasts to 2019.

- It analyzes the various distribution channels for life insurance products in India.

- It profiles the top life insurance companies in India, and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Indian life insurance segment and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Indian life insurance segment.

- Assess the competitive dynamics in the life insurance segment.

- Identify the growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Indian insurance industry, and their impact on companies and the industry's future.

Key Highlights
- The Indian life insurance segment accounted for 79.5% of the industry’s gross written premium in India in 2014, following growth at a review-period (2010–2014) CAGR of 4.4%.

- On March 12, 2015, the government passed the Insurance Laws (Amendment) Bill 2015 and increased the FDI limit in the Indian insurance industry from 26% to 49%. The FDI increase is expected to encourage global insurers to invest in the segment, intensifying competition over the forecast period (2014–2019).

- The Indian life segment is highly concentrated, with the five leading life insurers accounting for 88.9% of the segment’s gross written premium in 2014.

- The Indian life insurance segment has been an attractive destination for foreign insurers: of the top 10 life insurers in 2014, nine are domestic operators operating through joint ventures with foreign companies.

- Direct marketing remained the dominant distribution channel in the Indian life segment during the review period, accounting for 50.3% of the new business direct written premium, in 2014 due to its cost-effective nature.

- Constant product redevelopments have added complexity and difficulties for banking staff, especially in terms of product marketing. Training bank staff to sell insurance is a significant challenge for insurers, and is usually very expensive.

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