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Non-Life Insurance in India, Key Trends and Opportunities to 2015
BRICdata, Nov 2011, Pages: 239
Despite multiple global macroeconomic challenges, the Indian non-life insurance market has remained resilient over the report’s forecast period. The level of competition in the non-life insurance market is high due to the strong presence of both private and public companies, and while public-sector insurers dominate the market, product innovation and distribution channel penetration will be key factors to enable private participants to gain market share.
There are a number of key opportunities in the market, particularly in motor insurance which dominates non-life insurance and will open up further with space for new entrants as the automobile sector experiences rapid growth. The proposal to increase the country’s FDI limit to 49% will also create a favorable environment for innovation in terms of product offerings and distribution networks. Private non-life insurance companies are, therefore, expected to substantially expand their market shares in the next five years
The report provides top-level market analysis, information and insights of the Indian non-life insurance industry, including:
- The Indian non-life insurance industry’s growth prospects by product category and customer segment
- The various distribution channels in the Indian non-life insurance industry
- The competitive landscape in the non-life insurance industry in India
- A description of the non-life reinsurance market in India
This report provides a comprehensive analysis of the non-life insurance market in India:
- It provides historical values for India’s non-life insurance industry for the report’s 2006–2010 review period and forecast figures for the 2011–2015 forecast period
- It offers a detailed analysis of the key sub-segments in India’s non-life insurance industry, along with market forecasts until 2015
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for non-life insurance products in India
- Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in India for the non-life insurance business
- It provides a detailed analysis of the reinsurance market in India and its growth prospects
- It profiles the top non-life insurance companies in India, and outlines the key regulations affecting them
Reasons To Buy
- Make strategic business decisions using top-level historic and forecast market data related to the Indian non-life insurance industry and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Indian non-life insurance industry
- Assess the competitive dynamics in the non-life insurance industry, along with the reinsurance segment
- Identify the growth opportunities and industry dynamics within key product categories
- Gain insights into key regulations governing the Indian insurance industry and its impact on companies and the industry's future
Key Highlights
- Despite the global economic crisis, the Indian non-life insurance market has continued to grow at a healthy rate
- The market is, at present, dominated by public-sector insurers; all the private non-life insurers together account for less than half the total non-life insurance written premium
- Public-sector insurers are expected to dominate the market over the forecast period, while private non-life insurers are expected to gradually increase their market shares
- Although the Indian non-life insurance market has seen rapid growth over the 2006–2010 review period, it remains largely underpenetrated due to low awareness, low penetration in rural areas, and lack of a robust distribution model
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