Insurance Industry to Have Stable Profitable Growth
From a study that The Indian life insurance industry has stable profit growth. Confederation of Indian Industry (CII) and Ernst and Young (E&Y) said the insurance companies are poised for a quantum leap in performance with unprecedented growth opportunities, notwithstanding a temporary sliding growth curve. But in fact when according with the study, most large insurance players are expected to decelerate the pace of distribution growth and increase their focus on the retention of channel partners and improve channel productivity. And then there are large untapped areas which have not yet benefitted from the upside of insurance.
The Insurance Regulatory and Development Authority (IRDA), they will become more critical and it is in the finalization stage of its regulations, which would be instrumental in navigating the future course of the insurance industry. While insurance penetration in India is higher than that in countries such as China and Brazil, it still has a long way to go. In this fact actually had risk management, that also plays a very critical role in the insurance business, it may consider if the industry might also witness consolidation among smaller players and emergence of some large players. It will continue until had stability progress from insurance industry.