In the past few years, the Indian insurance sector has shown several markers of growing maturity. Between 2013-14 and 2021-22, the sector saw its premiums grow at an average annual rate of 11.3%. Several insurers moved up to a trajectory of steady profits. The online channel is gaining traction, and distribution and business models are emerging around it. Eight insurers, from both the life and non-life segments, have gone public. And now, the insurance regulator is looking to dish out about a dozen licences this year to add to the current pool of 59 companies, which could lead to further expansion of the sector.
