National Insurance Awareness Day: India’s Insurance Penetration 3.7%.!
In India June 28 is Recognized as National Insurance Awareness Day.
On this National Insurance Awareness Day, experts from across
the insurance ecosystem point to deeper roadblocks beyond just low awareness.
National Insurance Awareness Day..!
India’s insurance penetration remains very
low in comparison to the global average.
Overall insurance penetration has seen a
modest fall to 3.7% cent for 2023-24 in comparison to 4% in 2022-23, according
to the Insurance Regulatory and Development Authority of India (IRDAI) Annual
Report for 2023-24.
Not only does insurance penetration remain
abysmally low in India, but also density too.
India’s insurance density which reflects the
average insurance premium paid per person stood at USD 95 in 2023-24. In
comparison, the global average insurance density was significantly higher at
USD 889.
Despite rapid digitization & regulatory
push, the overall penetration remains very low. On this 2025 June 28 India’s National Insurance Awareness Day,
experts from across the insurance ecosystem point to deeper roadblocks beyond
just low awareness ranging from affordability and access to trust deficits %
product complexity.
Taken all types of Insurance polices for you and your
family contact
S.Sridharan, Founder, https://www.walletwealth.co.in/
If you need any advice on investments, do call us at 9940116967.
Team Wallet Wealth,
AMFI Registered Mutual Fund Distributor
2nd Floor, No.8A, 2nd Main Road,
Nanganallur,
Chennai – 600 061
Ph: 044-48612114
https://www.walletwealth.co.in/
Email id: sridharan@walletwealth.co.in
You can contact Mr.S.Sridharan for all types of investments
including mutual fund investment, medical insurance, and life insurance.
Read articles written by Mr. S. Sridharan in Nanayam Vikatan, a
leading personal financial management magazine.
https://www.vikatan.com/author/855-sridharan-s
