Recent Trends in Insurance Sector in India

This introduction of new economic policy and consequent financial sector reforms have brought number of changes in Insurance sector. This sector hitherto owned by the life insurance corporation of India and other General Insurance Companies of the Government of India have been opened to private partners. The formation of IRDA, partnership with insurance business and banking business and the introduction of micro insurance have given new thrust to this sector. All these trends have increased the competition both in life and non-life insurance business, which resulted in more choice for consumers. These trends need in-depth analysis and documentation for policy formulation and future direction. The book has the following objectives: To create out the historical development of insurance sector, To analyze the trends in insurance sector before and after the privatization, To analyze the business performance of insurance companies in public, private and cooperative sectors, To analyze the trends in bancassurance, It is hoped that this edited book will fulfill the requirements of students and executives in insurance education.