Prelude of Investment: Freshman's Dilemma in the Insurance Sector Investments

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Author(s): Shilpi Gupta (Amity University, Chhattisgarh, India)and Monica Shrivastava (Shri Shankaracharya Technical Campus (SSGI), Chhattisgarh, India)
Copyright: 2021
Pages: 21
Source title: Effective Strategies for Communicating Insights in Business
Source Author(s)/Editor(s): Ross Jackson (Wittenberg University, USA)and Amanda Reboulet (Jacoulet, USA)
DOI: 10.4018/978-1-7998-3964-4.ch011

Keywords: Business and Organizational Research / Business Science Reference / Communication Studies / Education

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Abstract

The government of India has taken multiple economic reforms such as Jan Dhan Yojna, UPI, demonetization, and digitalization moving India towards a cashless economy. The financial landscape of India has undergone a radical change with the insurance sector bearing the torch on the road of exponential growth. The insurance penetration recorded was only 3.69% in 2017. The shockingly low participation of individuals indicated the existence of challenges that need to be addressed. The first section of the chapter explores the various factors creating a dilemma for investment in the insurance sector. The other sections of the chapter focus on the current scenario of Insurance investment and the paradigm shift in the perception of customers towards insurance products. The basic purpose is to implement systems thinking of looking at the whole and holistic picture with the highest inclusion towards nation-building and improving the penetration percentage and density of insurance in India.

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Prelude of Investment: Freshman's Dilemma in the Insurance Sector Investments

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