Report forecast the online life insurance market in
India to grow at a CAGR of 25.36% over the period 2014-2019.
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. 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.
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.
According to the report, India, the rise in internet
penetration is one of several factors that drives the growth of the market. The
increased online presence of the population has encouraged insurance providers
to offer policies via the online medium that are increasingly being accessed
through desktops and mobile devices.
Further, the report states that compliance with IRDA
regulations and web aggregators pose a challenge to the market.
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 players in Online Life Insurance Market in India
2015-2019: Bajaj Allianz General Insurance, Birla Sunlife Insurance, Life
Insurance Corporation of India, New India Assurance, SBI Life Insurance and
Tata AIG General Insurance
Other Prominent Vendors in the market are: 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 and Star Union Dai-ichi Life Insurancee
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
Key questions
answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 78 pages, “Online Life Insurance Market in India 2015-2019” report
covers Executive Summary, List of Abbreviations, Scope of the Report, Market
Research Methodology, Introduction, India: Overview, Market Landscape, Market
Overview, Buying Criteria, Market Growth Drivers, Drivers and their Impact,
Market Challenges, Impact of Drivers and Challenges, Market Trends, Trends and
their Impact, Vendor Landscape, Key Vendor Analysis.
For further information on this report, please visit- http://mrr.cm/4Wk
Find all Insurance Reports
at: http://www.marketresearchreports.com/insurance
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