The Indian Insurance sector has observed tremendous growth since its liberalisation over a decade ago. Since the market was opened to foreign players, it has witnessed entry of some of the largest multinational insurers in the market. The relatively low penetration and insurance density among the emerging markets has opened tremendous opportunities to gain market share. However, post the global economic crisis, the industry is facing increased challenges to improve profitability, to manage risk while responding effectively to regulatory changes. Focus has now shifted from mere growth to profitable growth and innovation is expected to play a larger role in the next wave of market expansion.
Deloitte’s dedicated insurance team is part of the Global Financial Services Industries practice, helping insurers deal with these emerging challenges. Our practice leaders combine the industry knowledge and insight with technical expertise, to provide strategic advice and strategic solutions to key business issues.
Our team can help insurers refine market strategy, assess and enhance the operating model, optimize cost structures, realize efficiencies in distribution, improve online channel effectiveness, refine customer management and define innovative products. Our teams can assist in planning and deploying leading technologies to improve business performance and channel integration. Our understanding of the industry trends and insight into the regulators’ thinking help clients prepare for the future.