(2008-05-09) The Knowledge Centre
Between 2000 and 2007, Indian Insurance market had an increase of 120% and reached $47.89 billion and total premiums maintained an average growth rate of 11.96% and the CAGR growth during this time frame has been 11.96%.
India: The Next Insurance Giant in Asia-Pac
New Delhi, May 9th 2008:
Market Performance & Forecast:
In 2000, Indian insurance market size was $21.71 billion. Between 2000 and 2007, it had an increase of 120% and reached $47.89 billion. Between 2000 and 2007, total premiums maintained an average growth rate of 11.96% and the CAGR growth during this time frame has been 11.96%. It was one of the most consistent growth patterns we have noticed in any other emerging economies in Asian as well as Global markets.
Table of Contents
METHODOLOGY & RESEARCH APPROACH
EXECUTIVE SUMMARY
1. INDIA
1.1. ECONOMY
1.1.1. Performance in FY2007
1.1.2. Growing Per Capita Income
1.1.3. Macroeconomic trends
1.1.4. Future predictions
1.2. GOVERNMENT POLICIES
2. INDIAN INSURANCE SECTOR
2.1. MARKET OVERVIEW
2.1.1. Insurance Sector vs. Macro-economic factors
2.2. MARKET PERFORMANCE & FORECAST (2000-2011)
2.2.1. Indian Insurance Market
2.2.1.1. Indian Life Insurance Market
2.2.1.2. Indian Non-Life Insurance Market
2.3. DRIVING FACTORS
2.3.1. Opening of Pension sector
2.3.2. Growing Per Capita Income & Changing Demographics
2.3.3. Macro-Economic and Demographic Growth Drivers
2.3.4. Other Major Drivers
2.4. TRENDS, ISSUES AND OPPORTUNITIES – AN ANALYSIS
2.4.1. Major Issues
2.4.2. Emerging sectors for Insurance
2.4.3. Emergence of Multiple Distribution Networks
2.4.4. Consolidation of Distribution Strategy
2.4.5. Targeting niche customer base with customized products
2.4.6. Stagnating premium growth and underlying opportunity
2.4.7. The Deregulation of the Insurance Market in India (w.e.f. January 1, 2007)
2.4.8. Proposed stages of removal of the tariffs
2.4.9. Insurance sector driving Indian CRM market
2.4.10. Product Preferences among Consumers
2.4.11. Success of Auto Insurance Sector
2.4.12. Other major hurdles
2.5. GOVERNMENT REGULATIONS
2.5.1. Insurance Acts
2.5.2. Government backed insurance schemes
2.5.3. Reforms in Insurance Sector
2.6. COMPETITIVE LANDSCAPE
2.6.1. Competition in Life Insurance Sector
2.6.1.1 Market Share & Segmentation
2.6.1.2. Life Insurance - Five Forces Analysis
2.6.2. Competition in Non-Life Insurance Sector
2.6.2.1. Market Share & Segmentation
2.6.2.2. Non-Life Insurance - Five Forces Analysis
2.7. COMPANY PROFILES – TOP PLAYERS
2.7.1. Bajaj Allianz General Insurance Co. Ltd
2.7.2. ICICI Lombard General Insurance Company
2.7.3. IFFCO-TOKIO General Insurance (ITGI)
2.7.4. National Insurance Company Limited
2.7.5. The New India Assurance Co. Ltd.
2.7.6. The Oriental Insurance Company Limited
2.7.7. Reliance General Insurance
2.7.8. Royal Sundaram Alliance Insurance Co. Ltd
2.7.9. Tata AIG General
2.7.10. United India Insurance Company Limited
2.7.11. Bajaj Allianz Life Insurance Company Limited
2.7.12. ICICI Prudential Life Insurance Company
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