Post Pandemic Scenario of The Indian General Insurance Sector
Main Article Content
Abstract
In the aftermath of the epidemic, the non-life insurance market has undergone substantial changes. Ultimately, the COVID-19 pandemic has resulted in significant shifts in the Indian life insurance sector, including an increased focus on family financial security and a shift towards digital operations. It is unknown what these changes will have for the industry in the long run. This study aims to raise awareness about the insurance business and to demonstrate the significant transformations that occurred in the wake of the pandemic. The study examines the post-pandemic landscape of the insurance industry in India, focusing on the challenges, transformations, and opportunities that have emerged following the COVID-19 pandemic. It explores the disruptions caused by the pandemic to traditional insurance operations and the subsequent shifts in consumer behaviour and perceptions towards insurance. The study also discusses the accelerated digital transformation of the insurance sector and the role of government initiatives in promoting insurance penetration and inclusivity. Through a comprehensive analysis of industry trends, regulatory developments, and market insights, the study aims to provide valuable insights into the evolving dynamics of the insurance landscape in India and the strategies adopted by insurers to thrive in the post-pandemic era.