The latest set of guidelines issued by Insurance Regulatory and Development Authority of India (IRDAI) to regulate Point of Sale (POS) for insurance sector will go a long way towards enhancing the penetration as well as density of insurance policies. These new set of guidelines are also hugely beneficial for the relatively new players as they will help them grow their business and reach out to those segments where buying an insurance policy is still considered to be a Herculean task.
The two-wheeler segment in auto insurance remains one of the most under penetrated section in the insurance industry. While sale of two-wheelers has grown at a steady pace over the last several years, the number of vehicles with lapsed insurance is also equally high after the first year.
