Understanding the Gap: Awareness vs. Action in Indian Insurance
Despite sustained campaigns by the insurance sector, the Insurance Regulatory and Development Authority of India (IRDAI), and the General Insurance Council, the adoption of general insurance in India continues to lag. This prompts an examination of the reasons behind the discrepancy between awareness of insurance and the actual purchase of insurance products.
The persistent challenge points to the need for a deeper understanding of the factors hindering the translation of awareness into tangible action within the Indian insurance market. Further analysis is required to identify and address these issues and to promote a significant rise in insurance adoption across varied demographics.
