BFSI Summit: General insurance industry on the cusp of new phase of growth

Q: How long will it take to read this news story?

The story "BFSI Summit: General insurance industry on the cusp of new phase of growth" has 847 words across 24 sentences, which will take approximately 4 - 8 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "BFSI Summit: General insurance industry on the cusp of new phase of growth" was covered 2 weeks ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 203 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #23471025</li><li>URL: https://beamstart.com/news/bfsi-summit-general-insurance-industry-17310778572</li></ul>

Business Standard Logo Business Standard 2w ago

BFSI Summit: General insurance industry on the cusp of new phase of growth - Business Standard

Quick Summary:

Rau said health insurance premium in India is already one of the lowest, reducing the scope for further decline.“Reducing GST on insurance is a better option to drive penetration, compared to government using tax revenues to subsidise insurance premium in a bid to grow penetration,” he said.

The groundwork has been done and it will start to show up in policy sales and penetration data soon,” said Anuj Tyagi, MD & CEO of HDFC Ergo General Insurance Company.

It has grown at a faster rate than premium, given the growth in new policies.“Average premium per policy in motor insurance has not gone up in years while it has declined in case of crop insurance even as the number of policies continued to grow,” said Rau.