Essay on insurance industry in India
With the introduction of globalisation and privatisation, insurance industry in India is grooving more than 15% per annum. It is second highest after IT industry. The GDP in expected to grow by 10.00 per cent agriculture by 4 per cent and industry by 12.00.
The insurance industry is developing in number, quality and class fiction. The population and per capita income has been instrument for the growth of the industry. The quality life of people demands distills free lining. Insurance has increased several quality products to meet their requirement the different classes of prospects have started demanding deferent types of products.
The company which is expert in diversification of its products and CRM can develop leap and found. The insurance intermediation has become a full time qualified profession. Professionally qualified agents of insurance can earn more than a doctor, engineer, CA and other professional expects.
Now, people are approaching insurance agents for their financial advises rather than business. Insurance in started to be bought by the people rather than previous thinking of bold. People are seeking now best publication for their lives, health, property, business and economic activities.
IT and IRDA have asked agents to serve people better. The policyholders are getting more satisfaction today as compared to past year-experiences. Telecommunication has helped people to develop themselves through insurance. The business of insurance is expected to grow more than 18 per cent annum in future.