- The main factor behind the increase in the insurance sector, it is mainly driven by the growing middle class and increasing digital access in coming years.
- According to the report, new online distribution models such as business to consumer (B2C), business to business (B2B), and business to business to consumer (B2B2C) are key drivers of growth.
- Among it, business to consumer model seems to have a significant advantage.
- As they offer many opportunities like end-to-end digital experience through technological applications, app-based claims assistance, proactive conversions using call centers, etc.
- The persistence rate is higher due to better customer awareness.
Question:
Q.1 According to a recent report the insurance penetration in India will reach _________billion by FY26.a. $325 billion
b. $222 billion
c. $159 billion
d. $226 billion
