MDRT Brand India as ‘Perfect’ Insurance Market

A global network of chief insurance professionals has today branded India as the ideal market for insurance products, suggesting it had a significant scope for long term development and infrastructural strengthening over the coming years.

The Million Dollar Round Table, a worldwide network of insurance executives, has branded the size and demographic makeup of the Indian insurance market as ‘perfect’ in terms of the potential market for insurance products. With a massive population comprising of young, educated consumers, the market looks set to boom over the coming decades as it continues to present serious investment opportunities for insurance providers.

The Indian market would benefit from a rise in insurance, given the infrastructural and capital formation benefits brought about in markets with growing insurance activity, allowing business and development to flourish alongside economic development.

India and China are fast growing economies. It would be foolish not to be interested in this part of the world, especially India, and increasing our membership because this is an economic story that is very exciting and we want to be a part of it. The Indian market could contribute a further 40,000 members to the Million Dollar Round Table Network.

Whilst the Indian insurance market has grown in line with the country’s economic development, it still remains relatively undeveloped in terms of other mature insurance markets, leaving room for significant development, particularly amongst some of the world’s existing key players.

It remains to be seen whether more insurers will jump on the badwagon and enter the market, and indeed whether the market can hold up to its current potential.

Source: Insuremagic