According to my point of view the future of insurance sector is very good in India. As the current market share of new companies is not attractive but the potential market is very attractive and lucrative in India.Insurance has get popularity in cities as most of the members in every family is insured where as only head of the family is insured in towns.The position of insurance sector is worse in the villages .People living in villages do not know the importance of insurance and no family member is insured in many of the families.
New companies which entered into the India is not because of the current market but because of the potential market as the population of India is also increasing continually .They believe that if they will educate people about the importance of insurance then a good response may come.
To get success in India companies also have to change the mindset of people because the Indian people believe more on public sector companies.So, The companies belong to private sector must have to provide the lucrative product with user friendly facilities.
New companies which entered into the India is not because of the current market but because of the potential market as the population of India is also increasing continually .They believe that if they will educate people about the importance of insurance then a good response may come.
To get success in India companies also have to change the mindset of people because the Indian people believe more on public sector companies.So, The companies belong to private sector must have to provide the lucrative product with user friendly facilities.
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