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Online Life Insurance Market in India 2015-2019

  • April 2015
  • -
  • Infiniti Research Limited
  • -
  • 78 pages

Online life insurance products and services
Life insurance policy is a contract between the insurer and the insured, under which for the premiums received, the insurer agrees to pay a sum of money based on the policy conditions. The insurance market in India is highly established. Digitization of insurance was, however, a late development in the country. Insurance policies are broadly classified as traditional and ULIPs. The advances in the internet infrastructure and the rising cost of insurance policies are the major factors that paved way for online life insurance. With public entities such as LIC entering the online insurance market, the credibility of online policies have strengthened. As a result, there have been increase sales as well as renewal of insurance policies via the online medium.
TechNavio's analysts forecast the online life insurance market in India to grow at a CAGR of 25.36% over the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the online life insurance market in India for the period 2015-2019. To calculate the market size, it considers the number of new life insurance policies sold through the online medium.
TechNavio's report, Online Life Insurance Market in India 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
• Bajaj Allianz General Insurance
• Birla Sunlife Insurance
• Life Insurance Corporation of India
• New India Assurance
• SBI Life Insurance
• Tata AIG General Insurance
Other prominent vendors

• AEGON Religare Life Insurance
• Aviva Life Insurance
• Bharti Axa Life Insurance
• Exide Life Insurance
• HDFC Standard Life Insurance
• ICICI Prudential Life Insurance
• IDBI Federal Life Insurance
• Kotak Mahindra Old Mutual Life Insurance
• Max Life Insurance
• Reliance Life Insurance
• Star Union Dai-ichi Life Insurance
Market driver
• Rise in internet penetration
• For a full, detailed list, view our report
Market challenge
• Compliances with IRDA regulations and web aggregators
• For a full, detailed list, view our report
Market trend
• Increase in consumer awareness
• For a full, detailed list, view our report

Key Questions Answered in this Report
• What will the market size be in 2019 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Table Of Contents

Online Life Insurance Market in India 2015-2019
1 Executive Summary
2 List of Abbreviations
3 Scope of the Report
3.1 Market overview
3.2 Product offerings
4 Market Research Methodology
4.1 Market research process
4.2 Research methodology
5 Introduction
6 India: Overview
7 Market Landscape
7.1 Life insurance market in India
7.2 Digitization of Indian economy
8 Market Overview
8.1 Market size and forecast
8.2 Five forces analysis
9 Buying Criteria
10 Market Growth Drivers
11 Drivers and their Impact
12 Market Challenges
13 Impact of Drivers and Challenges
14 Market Trends
15 Trends and their Impact
16 Vendor Landscape
16.1 Competitive scenario
16.1.1 Key news
16.2 Market share analysis 2014
16.3 Other prominent vendors
17 Key Vendor Analysis
17.1 Bajaj Allianz General Insurance
17.1.1 Key facts
17.1.2 Business overview
17.1.3 Key offerings
17.1.4 Business strategy
17.1.5 SWOT analysis
17.2 BSLI
17.2.1 Key facts
17.2.2 Business overview
17.2.3 Solutions
17.2.4 Geographical presence
17.2.5 Recent developments
17.2.6 SWOT analysis
17.3 LIC
17.3.1 Key facts
17.3.2 Business overview
17.3.3 Product segmentation
17.3.4 Business segmentation by revenue 2014
17.3.5 Business segmentation by revenue 2013 and 2014
17.3.6 Geographical segmentation
17.3.7 Recent developments
17.3.8 SWOT analysis
17.4 New India Assurance
17.4.1 Key facts
17.4.2 Business overview
17.4.3 Key products
17.4.4 Business segmentation by revenue 2014
17.4.5 Business segmentation by revenue 2013 and 2014 ($ million)
17.4.6 Geographical presence
17.4.7 Business strategy
17.4.8 Recent developments
17.4.9 SWOT analysis
17.5 SBI Life Insurance
17.5.1 Key facts
17.5.2 Business overview
17.5.3 Business segmentation by total income 2014
Business segmentation by total income 2013 and 2014 59
17.5.4 Business strategy
17.5.5 SWOT analysis
17.6 Tata AIG General Insurance
17.6.1 Key facts
17.6.2 Business overview
17.6.3 Key offerings
17.6.4 Business strategy
17.6.5 SWOT analysis
18 Other Prominent Vendors
18.1 AEGON Religare Life Insurance
18.2 Aviva Life Insurance
18.3 Bharti Axa Life Insurance
18.4 Exide Life Insurance
18.5 HDFC Standard Life Insurance
18.6 ICICI Prudential Life Insurance
18.7 IDBI Federal Life Insurance
18.8 Kotak Mahindra Old Mutual Life Insurance
18.9 Max Life Insurance
18.1 Reliance Life Insurance
18.11 Star Union Dai-ichi Life Insurance
19 Other Reports in this Series


List of Exhibits
Exhibit 1: Market research methodology
Exhibit 2: GDP 2005-2013 ($ billion)
Exhibit 3: Life insurance penetration 2005-2012 (%)
Exhibit 4: Life insurance density 2005-2012 ($)
Exhibit 5: 2014 internet penetration in India
Exhibit 6: Online insurance market in India
Exhibit 7: Online life insurance market in India 2014-2019 (unit policies)
Exhibit 8: Internet users in India 2007-2013 (million)
Exhibit 9: Increase in urban population in India 2006-2013 (million)
Exhibit 10: Distribution channel strategies by customer segment
Exhibit 11: Distributor election matrix
Exhibit 12: Bajaj Allianz General Insurance: key offerings
Exhibit 13: BSLI: Solutions
Exhibit 14: BSLI: geographical presence
Exhibit 15: LIC: product segmentation
Exhibit 16: LIC: business segmentation by revenue 2014
Exhibit 17: LIC: business segmentation by revenue 2013 and 2014 ($ billion)
Exhibit 18: LIC: geographical segmentation
Exhibit 19: New India Assurance: key products
Exhibit 20: New India Assurance: business segmentation by revenue 2014
Exhibit 21: New India Assurance: business segmentation by revenue 2013 and 2014 ($ million)
Exhibit 22: New India Assurance: geographical presence
Exhibit 23: SBI Life Insurance: business segmentation by total income 2014
Exhibit 24: SBI Life Insurance: business segmentation by total income 2013 and 2014 ($ million)
Exhibit 25: Tata AIG General Insurance: key offerings

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