Online Life Insurance Market in India 2015-2019

Online life insurance products and services

Life insurance policy is a contract between the insurer and the insured, under which for the premiums received, the insurer agrees to pay a sum of money based on the policy conditions.

The insurance market in India is highly established. Digitization of insurance was, however, a late development in the country.

Insurance policies are broadly classified as traditional and ULIPs. The advances in the internet infrastructure and the rising cost of insurance policies are the major factors that paved way for online life insurance.

hdfc life banner

With public entities such as LIC entering the online insurance market, the credibility of online policies have strengthened. As a result, there have been increase sales as well as renewal of insurance policies via the online medium.

TechNavio’s analysts forecast the online life insurance market in India to grow at a CAGR of 25.36% over the period 2014-2019.

Covered in this report

This report covers the present scenario and the growth prospects of the online life insurance market in India for the period 2015-2019.

To calculate the market size, it considers the number of new life insurance policies sold through the online medium.

TechNavio’s report, Online Life Insurance Market in India 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts.

The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the Key vendors operating in this market.

Key vendors

– Bajaj Allianz General Insurance

– Birla Sunlife Insurance

– Life Insurance Corporation of India

– New India Assurance

– SBI Life Insurance

– Tata AIG General Insurance

Other prominent vendors

– AEGON Religare Life Insurance

– Aviva Life Insurance

– Bharti Axa Life Insurance

– Exide Life Insurance

– HDFC Standard Life Insurance

– ICICI Prudential Life Insurance

– IDBI Federal Life Insurance

– Kotak Mahindra Old Mutual Life Insurance

– Max Life Insurance

– Reliance Life Insurance

Star Union Dai-ichi Life Insurance Market driver

– Rise in internet penetration

– For a full, detailed list, view our report

Market challenge

– Compliances with IRDA regulations and web aggregators

– For a full, detailed list, view our report

Market trend

– Increase in consumer awareness

– For a full, detailed list, view our report

Curated from Online Life Insurance Market in India 2015-2019

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