Trends in Marketing of New Insurance Schemes and Distribution: An Empirical Study on Indian Life Insurance Sector

Chaudhury, Suman Kalyan; Das, Sanjay Kanti

doi:10.3329/jbt.v9i2.26196

Cited by 3 publications

(1 citation statement)

References 2 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The demand for life insurance has increased rapidly over the past few decades, significantly outpacing worldwide income growth. In addition, waves of globalisation and privatisation have profoundly influenced the insurance market worldwide, increasing direct trade and portfolio investment (Chaudhury and Das 2014). As a result, there has been a growing demand for insurance services, particularly in emerging markets.…”

Section: Introductionmentioning

confidence: 99%

Determinants of Life Insurance Demand: Empirical Evidence from BRICS Countries

Segodi

Sibindi

2022

Risks

View full text Add to dashboard Cite

The life insurance industry has experienced phenomenal growth over the years. The broad aim of this study was to establish the variables that influence the demand for life insurance in the BRICS countries (Brazil, Russia, India, China and South Africa). Although many studies have investigated the determinants of life insurance demand, little research has considered the supply-side factors such as financial regulation. Therefore, this study also contemplated the effect of the financial regulation variable on life insurance demand. The inquiry employed a panel of the BRICS bloc of countries as a unit of analysis for 1999–2020 and applied panel data econometric techniques. The study found that the life insurance demand variable (proxied by life insurance density and alternatively by life insurance penetration) was negatively affected by income, unemployment, interest rates and inflation variables. Furthermore, the study documented a positive relationship between life insurance demand and the economic growth and financial freedom variables. This study implies that regulatory authorities should deregulate the life insurance sector to foster financial freedom.

show abstract

Section: Introductionmentioning

confidence: 99%

Determinants of Life Insurance Demand: Empirical Evidence from BRICS Countries

Segodi

Sibindi

2022

Risks

View full text Add to dashboard Cite

show abstract

Emerging Trends in the Marketing of Financially Engineered Insurance Products

Ratnakaram

Chakravaram

Vihari

et al. 2020

Advances in Intelligent Systems and Computing

View full text Add to dashboard Cite

Prelude of Investment

Gupta

Shrivastava²

2021

Effective Strategies for Communicating Insights in Business

View full text Add to dashboard Cite

The government of India has taken multiple economic reforms such as Jan Dhan Yojna, UPI, demonetization, and digitalization moving India towards a cashless economy. The financial landscape of India has undergone a radical change with the insurance sector bearing the torch on the road of exponential growth. The insurance penetration recorded was only 3.69% in 2017. The shockingly low participation of individuals indicated the existence of challenges that need to be addressed. The first section of the chapter explores the various factors creating a dilemma for investment in the insurance sector. The other sections of the chapter focus on the current scenario of Insurance investment and the paradigm shift in the perception of customers towards insurance products. The basic purpose is to implement systems thinking of looking at the whole and holistic picture with the highest inclusion towards nation-building and improving the penetration percentage and density of insurance in India.

show abstract

Trends in Marketing of New Insurance Schemes and Distribution: An Empirical Study on Indian Life Insurance Sector

Abstract: Insurance

Cited by 3 publications

References 2 publications

Determinants of Life Insurance Demand: Empirical Evidence from BRICS Countries

Determinants of Life Insurance Demand: Empirical Evidence from BRICS Countries

Emerging Trends in the Marketing of Financially Engineered Insurance Products

Prelude of Investment

Contact Info

Product

Resources

About