Time to spread awarness on insurance: Expert

Chennai, Oct 31 (UNI) Senior Business Journalist K Nitya Kalyani today underscored the need to spread awareness on life and non-life insurance among people to further tap the sector's potential.

Ms Kalyani, who is also editor of the monthly magazine "Premium" aimed at insurance agents, was speaking on 'Insurance Industry in India' at a meeting organised by the Rotary Club of Madras here.

It's time to expand insurance market by creating proper awareness.

In the last five years, the insurance sector in the country had been facing tremendous changes. At present, there were 30 insurance companies both in public and private sector.

After the Insurance Regulatory and Development Authority (IRDA) came into being, more intermediaries were introduced for market promotion due to which at present there were 300 insurance brokers all over the country.

The country lacked proper information support system though the sector had 16 lakh insurance agents in India.

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