Thread by @jainmayank_943

Wanted to crowdsource from the good folks at Twitter as to where all lies massive under penetration in #insurance in India? What all categories, both existing and new?

Let me quick this off with some obvious ones.
1) retail health = only 35M lives insured as of FY18
more 👇

2) group health = only 100M lives insured as of FY18 (includes employee and his family members he's opted)

3) life = estimates peg penetration at ~25% lives; however claim significant under insurance at ~10% of the desired sum cover

4) motor = actually sees a good penetration overall, with car and commercial vehicles at 85% and 76% pen respectively. Two wheelers are under penetrated though at 36% pen.

5) views on other categories like crop, marine, fire, home etc?

Then, next are potentially new categories like
6) digital attachment insurance = this has got muted success (with selective products gaining traction like Ola trip insurance, OTA's (flight) trip insurance, OTA's flight cancellation insurance, Amazon's mobile screen insurance etc)

7) specialised micro insurance = not sure if this has picked up (products here include hospicash, specific disease cover, cyber fraud cover etc)

Please add to this list. Also correct where my knowledge is not correct. Also add insights into for eg - why under insurance in life.

Also, what are some of the categories or insurance products, which have scaled in the west or china, but are close to non-existent in India.