The Indian insurance sector, with around 70 players, is inadequate to serve its 1.4 billion population and the industry requires more insurance companies to meet the growing demand, said Debasish Panda, chairman, Insurance Regulatory and Development Authority (IRDAI).
Catering to the needs of the biggest population on the planet “cannot be done with a handful of players or with a handful of products,” Panda said at the Global Fintech Fest.
