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| Article Name : | | | “PERFORMANCE OF INSURANCE INDUSTRY IN INDIA” | | Author Name : | | | H. A. CHOUGULE . | | Publisher : | | | Ashok Yakkaldevi | | Article Series No. : | | | ROR-576 | | Article : | |  | Author Profile | | Abstract : | | | In Indian economy, service sector is growing with rapid speed and insurance industry one of the important industry of service sector. Insurance is one of the greatest blessings for mankind. India is ranked 10th among the 156 countries in Life Insurance business. After liberalization about 14 companies are competing each other in this sector. Present paper Performance of Insurance Industry in India is based on secondary data. The potential and performance of the insurance sector is universally assessed with reference to two parameters viz. insurance penetration and insurance density. These two often reflects the level of development of insurance sector in a country. Insurance penetration and insurance density in India is highly low compared with other countries. The life insurance penetration in India grew consistently till 2009 and slipped down in 2010 and 2011. It is due to slowdown in life insurance premium as compared to the growth rate of the Indian economy. Penetration of non-life insurance sector showed nearly constant range since last 10 years (0.56 in 2001 & 0.70 in 2011). Opening up of Indian insurance sector to private companies has increased penetration percentage and density also. In order to increase penetration and density of insurance intensity of various insurance programmes should be increased, different marketing strategies should be developed and awareness about insurance should be created in the minds of people. | | Keywords : | | - Insurance Density,Insurance Density,Insurance Density,Insurance Density,
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