Источник
The Hindu Business Line.com, Chennai, India


Заголовок
Expanded insurance in India offers $10 billion savings, growth opportunities: Report


Дата
20241114


Этим цветом    обозначаются известные системе слова и выражения,
принимавшие участие в анализе данного текста, а таким    - идентифицированные,
то есть соотнесенные с каким-либо объектом онтологической базы

============= Обработанный текст:

Expanded insurance• Страхование in India offers $10 billion savings, growth opportunities: Report Expanded insurance• Страхование in India offers $10 billion savings, growth opportunities: Report Updated - November 14, 2024 at 11:33 AM. India’s insurance• Страхование sector exhibits robust growth, but challenges in coverage and profitability persist; the sector’s gross written premium exceeded $130 billion from FY2020 to FY2023 By KR Srivats Comments Share Copy link Email• Коммуникации » Интернет-коммуникации » Электронная почта Facebook• Объект организация » Организации по алфавиту » Организации на Me » Meta (компания) » Facebook • Объект организация » Организации по алфавиту » Организации на Fa » Facebook Twitter• Объект организация » Организации по алфавиту » Организации на Tw » Twitter, Inc. Telegram LinkedIn WhatsApp Reddit READ LATER Remove See All A recent McKinsey & Company• Объект организация » Организации по алфавиту » Организации на Mc » McKinsey & Company report, titled ‘Steering Indian Insurance• Страхование from Growth to Value,’ explores how broader life and health insurance coverage could reduce the government’s financial strain, particularly in ex-gratia benefits and healthcare costs. | Photo Credit: Indian government could potentially save about $10 billion annually by expanding insurance• Страхование penetration to encompass underserved population and events, a new McKinsey & Company• Объект организация » Организации по алфавиту » Организации на Mc » McKinsey & Company report showed. This new report, ‘Steering Indian Insurance• Страхование from growth to value in the upcoming ‘techie,’’ analyses the Indian insurance• Страхование industry’s performance and outlines key opportunities and challenges that could shape its near- and long-term performance. McKinsey & Co• Объект организация » Организации по алфавиту » Организации на Mc » McKinsey & Company’s analysis showed that comprehensive life insurance• Страхование coverage could assist the government in alleviating the burden of providing ex-gratia benefits to families affected by the loss of life or livelihood due to accidents and unforeseen events. Also affordable private health insurance coverage could reduce the strain on government healthcare, potentially freeing government funds to improve healthcare infrastructure, the report highlighted. According to Mckinsey• Объект организация » Организации по алфавиту » Организации на Mc » McKinsey & Company analysis, targeted intervention programmes for crop insurance could help minimise crop losses, reduce loan defaults, and improve yields. Creation of natural disaster insurance• Страхование pools with mandatory coverage for ecologically sensitive areas could minimize financial losses for small and medium-size enterprises caused by catastrophic events, the report highlighted Growth Potential A growing middle class, greater awareness, rising healthcare costs, and supportive regulations have combined to offer high growth for India’s insurance• Страхование industry over the last few years. However, there is immense growth potential as a significant portion of the Indian population and insurable assets remain uninsured, increasing the risks of high out-of-pocket expenses, adding to the overall economic strain, and undermining the industry’s ability to bring full benefit to society, the McKinsey• Объект организация » Организации по алфавиту » Организации на Mc » McKinsey & Company report said. The McKinsey & Co• Объект организация » Организации по алфавиту » Организации на Mc » McKinsey & Company. report highlighted that Insurers’ ability to drive value has been impeded by challenges, including the inability to generate sufficient returns and manage operational efficiencies. Despite the regulator’s target of ‘Insurance• Страхование for All by 2047,’ the industry’s penetration rate has slipped from 4.2 per cent in 2022 to 4 per cent in 2023, indicating that its progress has not been on par with India’s economic growth, the report added. Peeyush Dalmia, Senior Partner, McKinsey & Company• Объект организация » Организации по алфавиту » Организации на Mc » McKinsey & Company, said, “While current growth indicators are promising, the insurance• Страхование industry has not seen improvement in productivity. Achieving long-term success requires a fundamental transformation in how insurance• Страхование products are designed, distributed, and serviced.” The industry stands at an inflection point, and Insurance• Страхование companies that successfully implement these changes while ensuring focus on profitability will be well-positioned to capture the significant growth opportunities ahead, he added. Meanwhile, the insurance• Страхование sector’s gross written premium (GWP) exceeded $130 billion, with a CAGR of 11 percent, in the three-year period FY2020-23, outpacing its Asian peers. Over a longer term, the life insurance• Страхование market recorded an 11.4 percent CAGR in the seven-year period, FY16-23, while general insurance• Страхование » Генеральный полис market grew 15 percent over the same period, the report highlighted. However, despite achieving a robust CAGR of over 17 per cent in New Business• Экономика » Бизнес Premiums (NBP), the top five private life insurance• Страхование companies in India have experienced tepid net• Страхование » Нетто profit growth of under 2 per cent CAGR over the past five years. The growth in premiums for general insurers has been predominantly driven by increased hiring, with little to no improvement in productivity among top players. As a result, their per-employee productivity (measured as premium per employee) has stagnated at a meagre CAGR of just 0.5 per cent. In contrast, leading players across life insurance• Страхование, banking, and asset management have successfully expanded their businesses at a pace that outstrips their employee growth (CAGR of 2 to 6 per cent), reaping the benefits of enhanced productivity. Despite declining claims ratios, a steady increase in expense ratios among traditional players (till 2023) has meant that the combined ratio has trended upwards. Improvement in leading productivity metrics, such as operating expenses per life or policy, has been negligible over the past two to three years for both life and general insurance• Страхование » Генеральный полис companies, the report added. Comments SHARE Copy link Email• Коммуникации » Интернет-коммуникации » Электронная почта Facebook• Объект организация » Организации по алфавиту » Организации на Me » Meta (компания) » Facebook • Объект организация » Организации по алфавиту » Организации на Fa » Facebook Twitter• Объект организация » Организации по алфавиту » Организации на Tw » Twitter, Inc. Telegram LinkedIn WhatsApp Reddit Published on November 14, 2024

============= Итог:
2,0000 ; Страхование#Генеральный полис
2,0000 ; Страхование#Нетто

1,3125 ; Коммуникации#Интернет-коммуникации#Электронная почта

1,2500 ; Экономика#Бизнес
============= Объекты:
организации

	Facebook
		Meta (компания)

	McKinsey & Company

	Twitter, Inc.

============= Связи:
	Facebook # ассоциации-4 # Twitter, Inc.