According
to TechSci Research report, “India Home Insurance
Market By Type, By Source, By Premium Type, By Area of
Property, Competition, Forecast & Opportunities, 2024”,
India home insurance market is expected to grow at a steady CAGR during the
forecast period on account of increasing concern for safety and security.Moreover,
rise in the tourist traffic and increasing natural calamities, rise in the
occurrences of theft are the other key factors that are anticipated to propel
the growth of home insurance market in India.Furthermore, owing to the benefits
offered under a home insurance policy, more people are looking forward to
getting their home insured, thereby further fueling growth on the market.
Around 60% of the Indian subcontinent landmass is vulnerable to earthquakes and
other natural catastrophes, and at least 38 Indian cities lie in high-risk
seismic zone. Further, most cities in India are highly populated and do not have
best architectural layout standards. It is not always possible to measure the
extent of damages that any natural calamity entails in terms of money, butby choosing
the right insurance coverpeople can secure their financial future. However, the
market is likely to get subdued due to lack of guidance and awareness regarding
the insurance policies.
Browse market data Tables and Figures spread through Pages and an
in-depth TOC on "India
Home Insurance Market"
India
home insurancemarket can be segmented based on type, source, premium type, area
of propertyand region. Based on type, the market can be bifurcated into banks
and non-banking financial company. Out of which, banks are anticipated to hold
the largest market share in India home insurance marketduring the forecast
period which can be attributed to easily accessibility of banks coupled with
new benefiting cover insurance policies. Based on source, the online segment is
forecast to witness high growth over the coming years on account of smartphone penetration
and increase in the number of online users.
Bajaj
Allianz General Insurance Co. Ltd., ICICI Lombard GIC Ltd., TATA AIG GIC Ltd.,
Royal Sundaram Alliance Insurance Co. Ltd., The New India Assurance Co. Ltd.,
The Oriental Insurance Co. Ltd., HDFC ERGO General Insurance Co. Ltd, United
India Insurance Co. Ltd., National Insurance Company, Future Generali India
Insurance, among others are the leading players operating in India home
insurance market.
customers can also
request for 10% free customization on this report.
“India
home insurance market is expected to grow steadily during the forecast period.Increasing
incidences of natural disasters is the key factor that is propelling the home
insurance market.Moreover, damage due to burglary, fire and allied perils,
electrical mechanical breakdown of electrical and robbery are all covered under
a home insurance policy, which is further driving India home insurance market.
Many insurers including New India Assurance, Shriram General Insurance and
Bajaj Allianz even provide cover against the acts of terrorism.”said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based India
management consulting firm.
According
to TechSci Research “India Home Insurance
Market By Type, By Source, By Premium Type, By Area of Property, Competition,
Forecast & Opportunities, 2024” has evaluated the future growth potential of India
home insurance market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India home insurance market.
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