IncomeTax/Insurance

INSURANCE INNOVATION

Innovation of insurance business has taken accelerated development in India since 2000.it has been observed by international agencies, too. All the insurers in India are busy with new product development, underwriting Simplification and Distribution strategices.the Government is caution about fraud and misappropriation by insurers as well as insurers.

Regulation is being framed by IRDA in India to safeguard the policyholders’ interest and facilitate insurance development.

Different customer has different types of insurance needs for life, property and general interest. The product development has helped development of life insurance spectacularly as was never expected. There are abundant opportunities of development of property and general insurance,too.the product development has been analyzed under life insurance and Non –life Insurance.