In 2023, the premium of public personal accident insurance in India stood at 16.50 billion Indian Rupees. Based on the forecasted data, this value is projected to grow steadily, reaching 17.08 billion in 2024, 17.68 billion in 2025, 18.27 billion in 2026, 18.85 billion in 2027, and 19.42 billion in 2028.
The year-on-year percentage variation from 2023 to 2024 is 3.5%, from 2024 to 2025 is 3.5%, from 2025 to 2026 is 3.34%, from 2026 to 2027 is 3.18%, and from 2027 to 2028 is 3.02%. Overall, the compound annual growth rate (CAGR) for the period from 2023 to 2028 is approximately 3.31%.
Future trends to watch for include rising awareness about personal accident insurance, increased penetration in rural areas, the impact of regulatory changes, and potential effects of economic fluctuations. Additionally, technological advancements and digital adoption in the insurance sector may drive growth and influence premium rates.
