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Life Insurance in India Key Trends and Opportunities to 2020

Life Insurance in India Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in India Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Indian life insurance segment, and a comparison of the Indian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Indian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Life Insurance in India Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Indian life insurance segment, including:

  • An overview of the Indian life insurance segment
  • The Indian life insurance segment’s growth prospects by category
  • A comprehensive overview of the Indian economy and demographics
  • A comparison of the Indian life insurance segment with its regional counterparts
  • The various distribution channels in the Indian life insurance segment
  • Details of the competitive landscape in the life insurance segment in India
  • Details of regulatory policy applicable to the Indian insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in India:
  • It provides historical values for the Indian life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Indian life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Indian life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for life insurance products in India.
  • It profiles the top life insurance companies in India and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Indian life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Indian life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Indian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The Indian life insurance segment accounted for 79.2% of the industry’s gross written premium in 2015.
  • In March 2015, the limit on foreign direct investment (FDI) in the Indian insurance industry was increased from 26% to 49%.
  • Competition between LIC and private insurers intensified during the review period.
  • The total investment income of the life segment increased at a review-period CAGR of 33.0%.
  • Direct marketing remained the dominant distribution channel during the review period, accounting for 49.7% of the segment’s new business direct written premium in 2015.


  • Key Facts and Highlights
    • Table Indian Life Insurance - Key Facts, 2015
    • Table Indian Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table BRICS Region - Real GDP (US$ Billion), 2015
    • Table Indian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Indian Life Insurance - Gross Written Premium (INR Billion and US$ Billion), 2011-2015
        • Table Indian Life Insurance - Penetration (%), 2011-2015
        • Table Indian Life Insurance - Gross Written Premium (INR Billion and US$ Billion), 2015-2020
        • Table Indian Life Insurance - Penetration (%), 2015-2020
        • Table Indian Life Insurance - New Business Direct Written Premium (INR Billion and US$ Billion), 2011-2015
        • Table Indian Life Insurance - New Business Direct Written Premium (INR Billion and US$ Billion), 2015-2020
        • Table Indian Life Insurance - Premium per Capita (INR and US$), 2011-2015
        • Table Indian Life Insurance - Premium per Capita (INR and US$), 2015-2020
      • Policies sold
        • Table Indian Life Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Indian Life Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Indian Life Insurance - Paid Claims (INR Billion and US$ Billion), 2011-2015
        • Table Indian Life Insurance - Paid Claims (INR Billion and US$ Billion), 2015-2020
      • Sum assured
        • Table Indian Life Insurance - Sum Assured (INR Trillion and US$ Trillion), 2011-2015
        • Table Indian Life Insurance - Sum Assured (INR Trillion and US$ Trillion), 2015-2020
      • Assets and investments
        • Table Indian Life Insurance - Total Assets (INR Billion and US$ Billion), 2011-2015
        • Table Indian Life Insurance - Total Assets (INR Billion and US$ Billion), 2015-2020
        • Table Indian Life Insurance - Total Investment Income (INR Billion and US$ Billion), 2011-2015
        • Table Indian Life Insurance - Total Investment Income (INR Billion and US$ Billion), 2015-2020
        • Table Indian Life Insurance - Investment Portfolio (INR Billion), 2011-2015
        • Table Indian Life Insurance - Investment Portfolio (INR Billion), 2015-2020
  • Outlook by Sub-Segment
    • Table Indian Life Insurance - Direct Written Premium by Sub-Segment (INR Billion),2011-2015
    • Table Indian Life Insurance - Direct Written Premium by Sub-Segment (INR Billion), 2015-2020
    • Individual Life Insurance
      • Premium
        • Table Indian Individual Life Insurance - Direct Written Premium by Category (INR Billion), 2011-2015
        • Table Indian Individual Life Insurance - Direct Written Premium by Category (INR Billion), 2015-2020
      • Policies sold
        • Table Indian Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
        • Table Indian Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
      • Penetration
    • Group Life Insurance
      • Premium
        • Table Indian Group Life Insurance - Direct Written Premium by Category (INR Billion), 2011-2015
        • Table Indian Group Life Insurance - Direct Written Premium by Category (INR Billion), 2015-2020
      • Policies sold
        • Table Indian Group Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
        • Table Indian Group Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
      • Penetration
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Indian Life Insurance - Direct Written Premium by Distribution Channel (INR Billion), 2011-2015
      • Table Indian Life Insurance - Direct Written Premium by Distribution Channel (INR Billion), 2015-2020
      • Table Indian Life Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020
  • Competitive Landscape
    • Overview
      • Table Indian Life Insurance - Segment Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Life Insurance Corporation of India - company overview
        • Table Life Insurance Corporation of India - Key Facts
        • Table Life Insurance Corporation of India - Key Financials (INR Million), 2011-2015
      • ICICI Prudential Life Insurance Company Ltd - company overview
        • Table ICICI Prudential Life Insurance Company Ltd - Key Facts
        • Table ICICI Prudential Life Insurance Company Ltd - Key Financials (INR Million), 2011-2015
      • HDFC Standard Life Insurance Company Ltd - company overview
        • Table HDFC Standard Life Insurance Company Ltd - Key Facts
        • Table HDFC Standard Life Insurance Company Ltd - Key Financials (INR Million), 2011-2015
      • SBI Life Insurance Company Ltd - company overview
        • Table SBI Life Insurance Company Ltd - Key Facts
        • Table SBI Life Insurance Company Ltd - Key Financials (INR Million), 2011-2015
      • Max Life insurance Company Ltd - company overview
        • Table Max Life insurance Company Ltd - Key Facts
        • Table Max Life insurance Company Ltd - Key Financials (INR Million), 2011-2015
  • Governance, Risk and Compliance
    • Table India - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
      • Table India - Sum Insured or Premium Limit for Electronic Policies
      • Table India - Percentage of Allowable Expenses
      • Table India - Commission Payable on Non-Life Insurance Policy
    • Legislation and Market Practice by Type of Insurance
      • Life Insurance
        • Table India - Life Insurance Regulatory Framework
        • Table India - Commission Payable on Single Premium Life Policy
        • Table India - Commission Payable on Regular Premium Life Policy
      • Property Insurance
        • Table India - Property Insurance Regulatory Framework
        • Table India - Compulsory Cession Limits
      • Motor Insurance
        • Table India - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table India - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
        • Table India - Commission Payable on Health Insurance Policies Offered by Life Insurers
        • Table India - Commission Payable on Health Retail Insurance Policy
        • Table India - Commission Payable on Health Group Insurance Policy
    • Compulsory Insurance
      • Third-party liability insurance for owner of hazardous facilities
      • Motor third party liability insurance
        • Table India - Premium Rates for Third-Party (TP) Liability Insurance
      • Professional indemnity insurance for insurance brokers and web aggregators
      • Workmen's compensation insurance/employers' liability insurance
        • Table India - Employee Compensation Benefits
      • Professional indemnity insurance for stock brokers
      • Aviation carriers' liability insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Insurance Regulatory and Development Authority of India
      • The Life Insurance Council
      • The General Insurance (GI) Council
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
        • Table India - Factors for Calculation of Required Solvency Margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table India - Surcharge for the Financial Year 2016
        • Table India - Other Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Indian Life Insurance - Policies and Premium, 2011-2015
      • Table Indian Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Indian Life Insurance - Claims and Expenses, 2011-2015
      • Table Indian Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Indian Life Insurance - Assets and Investments, 2011-2015
      • Table Indian Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing and E-Commerce
      • Table Indian Life Insurance - Direct Marketing and E-Commerce, 2011-2015
      • Table Indian Life Insurance - Direct Marketing and E-Commerce, 2015-2020
    • Insurance Brokers and Agencies
      • Table Indian Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Indian Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Bancassurance and Other Distribution Channels
      • Table Indian Life Insurance - Bancassurance and Other Distribution Channels, 2011-2015
      • Table Indian Life Insurance - Bancassurance and Other Distribution Channels, 2015-2020
    • Individual Life Insurance
      • Table Indian Life Insurance - Individual Life Insurance, 2011-2015
      • Table Indian Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Indian Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Indian Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Group Life Insurance
      • Table Indian Life Insurance - Group Life Insurance, 2011-2015
      • Table Indian Life Insurance - Group Life Insurance, 2015-2020
    • Group Life Insurance by Product
      • Table Indian Life Insurance - Group Life Insurance by Product, 2011-2015
      • Table Indian Life Insurance - Group Life Insurance by Product, 2015-2020
    • Individual Life - Single vs. Non-Single Premium
      • Table Indian Life Insurance - Individual Life Insurance by Premium, 2011-2015
      • Table Indian Life Insurance - Individual Life Insurance by Premium, 2015-2020
    • Group Life - Single vs Non-Single Premium
      • Table Indian Life Insurance - Group Life Insurance by Premium, 2011-2015
      • Table Indian Life Insurance - Group Life Insurance by Premium, 2015-2020
    • Linked vs Non-Linked Policies
      • Table Indian Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
      • Table Indian Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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