The Expansion of Insurance Sector: A Critical Study of Life Insurance in India

Abstract

The aim of this study is examining the relationship between commission expenses, the number of offices, and new policies issued with the premium amount charged. Quantitative research was used. The research was descriptive and analytical. Secondary tools provided the data. The 2015–2022 research lasted seven years. Rates, average, CAGR%, coefficient of variation, standard deviation, correlation, regression analysis, ANOVA, and graphical representations have been used to study Indian Life Insurance Market trends and patterns. MS Excel and statistical software analyzed the data collected. The correlation analysis found a 0.995 connection between premium charges and commission charges. Because the regression analysis and ANOVA table significance values were below 0.05, the alternative hypothesis was accepted and the null hypothesis was rejected. This suggests that life insurance premiums are affected by the number of new policies, locations, and compensation expenditures. The analysis found a positive correlation between total premiums, commission charges, new policies, and offices.