Globalization has made a profound impact on the Indian insurance industry and has resulted in an overall increase in the awareness of the insuring public about the wide range and choice of insurance products and their prices offered by the competing insurers in the market. Several new and...

As the insurance sector has a dominant role to play in the financial system, many reforms were introduced in this sector. The main objective of the insurance sector reforms was to increase the efficiency and productivity of the insurance sector. In India, the market share of public insurance...