The Non-Life Insurance Market in India, 2017-2019 & 2023 – Market Set to Exceed INR 4.4Bn by the End of 2023 – ResearchAndMarkets.com
The non-life insurance market in
Economic growth of the country, expansion of the associated industries like automobile, and healthcare, and strengthening of the online distribution channel are contributing to the growth of the market.
The major players operating in the Indian non-life insurance market include the New India Assurance Company Limited,
Key growth drivers of the market:
The non-life insurance industry is driven by the growing demand for a number of associated sectors such as the automobile industry, and the healthcare industry. Total automobile production in
Since motor insurance is compulsory in
Key deterrents to the growth of the market:
The rate of non-life insurance penetration, measured as a percentage of insurance premium to gross domestic product (GDP), stood at 0.77% in 2016, which was lower than 0.80% in 2013.
This implies that during 2014-2016, growth of insurance premium in
Product-wise segment insights:
The main non-life insurance products offered by the companies in
The motor insurance segment dominated the market between FY 2016 and FY 2017, contributing ~39% of the total general insurance gross direct premium collected in FY 2017, owing to a significant rise in the demand of automobiles (passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles), and compulsion of motor insurance across the country.
Distribution channel-wise segment insights:
Non-life insurance policies are sold in
Key Topics Covered
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Non-life insurance market - definition and structure
Chapter 4: Non-life insurance market in
4.1. Market overview
4.2. Market size and growth forecast (on the basis of gross premium income) - value-wise (FY 2018-FY 2023e)
4.3. Gross direct premium income - insurer type-wise (FY 2017)
- Public sector insurers
- Private sector insurers
- Standalone health insurers
- Specialize insurers
Chapter 5: Non-life insurance market in
5.1.
- Motor insurance
- Health insurance
- Fire insurance
- Marine insurance
- Others
5.2.
- Public insurer
- Private insurer
- Specialize insurer
5.3.
- Individual agents
- Corporate agents - banks
- Corporate agents - others
- Brokers
- Direct business
- Others
Chapter 6: Key growth drivers of the market
Chapter 7: Key deterrents to the growth of the market
Chapter 8: Government initiatives
Chapter 9: Competitive landscape
9.1. Market share of major players (FY 2017)
- Public sector insurers
- Private sector insurers
- Specialized health insurers
- Specialized insurers
9.2.
- Corporate information
- Business description
- Products and services
- Key people
- Financial snapshot (total income, net profit/loss)
- Key ratios
- Business segments, geographical segments
9.3.
9.4.
9.5. ICICI Lombard General Insurance Company Limited
9.6.
9.7.
9.8.
9.9.
9.10.
9.11. The New India Assurance Company Limited
Chapter 10: Recent developments
For more information about this report visit https://www.researchandmarkets.com/r/cwz9qb
View source version on businesswire.com: https://www.businesswire.com/news/home/20190819005266/en/
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