Siliconindia Magazine

Best Insurance Startups - 2020

The Indian market holds immense potential in the life and non-life insurance space. A nation of more than 1.3 billion people, 250 residential houses, more than 250 million registered vehicles and various other avenues for bolstering the need for insurance, India is sitting on a massive insurance opportunity. It is also important to note that of this huge market the country only has a 3.7 percent insurance penetration. The country's insurance market holds a 1.7 percent share in the global market. The good news is that according to reports, this number is slated to swell to 2.3 percent by 2030. The responsibility to increase insurance penetration across the Indian market has been taken upon by the country's growing number of insurance startups. Keeping pace with today's consumers who...