Also, the commercial lines, which were relatively muted in FY25, are expected to pick up in FY26, supported by capital expenditure from the government.
In addition, insurance penetration in urban India is noted to be much higher than in rural India and requires deeper distribution, with the right product–market fit for rural consumers and improved affordability.
Bundling of multiple products will also be key in addressing the challenge of under-penetration.“Pricing pressures persist for general insurers due to increasing competition and decreasing consumer affordability, thereby impacting insurers’ underwriting profitability.
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