Key industry players revealed at the Business Standard BFSI Insight Summit on Tuesday that the general insurance industry is planning to increase its penetration to 1.5 per cent of gross domestic product by 2030, up from the current 1 per cent.
Bhargav Dasgupta, managing director (MD) and chief executive officer (CEO) of ICICI Lombard General Insurance Company, said, “We had 0.5 per cent penetration when we started; reaching 1.5 per cent in seven to eight years should be feasible.
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