Since the government liberalized the insurance sector in 2000 by opening the doors for private participation, the Indian insurance sector has gotten stronger.
Competition has provided the consumer with an unforeseen range of products, providers and enhanced service levels. The health of the insurance sector reflects a country’s economy. Insurance sector generates long-term funds for infrastructure development and also increases a country’s risk- taking capacity.
India’s economic growth since the turn of the century is viewed as a significant development in the global economy. This view is helped in no small part by a booming insurance industry.