{:en}Growth in insurance business{:}{:hi}Growth in insurance business{:}

{:en}Growth in insurance business{:}{:hi}Growth in insurance business{:}

The insurance sector has been growing year on year thanks to the increased awareness of individuals towards the importance of insurance. Buying an insurance policy has become simpler and more convenient through the online medium. Individuals are, therefore, increasingly insuring themselves under relevant insurance policies, be it life or general insurance. Due to the increasing penetration of insurance, insurers are also able to post a positive growth in their premium collections. June 2019 was a productive month for the insurance sector as many insurers posted better premium collection figures compared to June 2018. Both in life and general insurance segments, many insurance companies experienced an increased collection in premiums over the last year. Let’s see what the numbers tell –

 

Life insurance

 

June 2019 was particularly noteworthy for the Life Insurance Corporation of India (LIC) which is more than doubled its premium collection. LIC led the race with a growth of 133.08% followed closely by TATA AIA Life Insurance Company Limited and Star Union Dai-ichi Life Insurance Company Limited. The other two leading insurers also posted a growth of more than 50%. Let’s see the top five performers in the life insurance segment –

 

Life insurance growth _June_2019

 

General insurance

 

The general insurance segment also saw some tremendous growth rates from relatively new insurance companies. The top three insurers posted a growth in triple figures which shows that they more than doubled their premium collections. Other companies also posted a good growth rate in double digits. Here are the top five performers in the general insurance segment –

 

General insurance_growth_June_2019

 

The numbers show the rising face of the insurance industry which is poised to grow in future. As insurance products are becoming more customer-friendly and individuals are becoming more aware about the need of insurance, the penetration is all set to increase. This spells good news for you as the increase in insurance penetration would directly impact your insurance business. You would be able to grow your sales and earn more commissions as you find new and willing clients to buy insurance.


About TurtlemintPro

TurtlemintPro is the best insurance advisor app if you are looking to start, grow or manage your insurance business. With TurtlemintPro, you can become a trusted insurance advisor to your customers and provide great service as well. You can provide quotes from multiple insurers for multiple products, issue policy instantly without lengthy paperwork, follow-up with leads and much more.