Insurance is one of India’s sunrise sector

Insurance Penetration in India is currently around 3.7% as on FY 20. This is low in comparison to the penetration recorded in comparable Asian economies such as Malaysia, Thailand and China which are at 4.72, 4.99 and 4.30 % respectively. This presents a huge opportunity for growth in the Insurance sector. Several initiatives are being taken up by the government to fuel the growth in the form of Health schemes. A recent initiative is the announcement in the union budget FY21 to increasing the FDI in Insurance from 49% to 74%. Needless to say that exhaustiveness of Insurance distribution would be critical in taking the reach of Insurance to the undeserved.

  • Motor Insurance is a need ( Motor Third Party is compulsory), Market share for Motor Insurance is approx. 35% in FY21. India is the largest manufacturer of 2W and 3W and the 4th largest manufacturers of passenger cars in the world.

  • There is an increased awareness about Health and Life Insurance. Retail health Insurance has shown a sharp growth trend in FY21 of approximately 21.8%. Indian life insurance industry capped FY21 with a 7.5% increase in new business premiums (NBP).

  • Assisted Distribution models have been contributing a major share of the total insurance premium in India.


Insurance trends that make
Sarathi a winning bet.

Rajesh Sharma

CEO & Principal Officer