Indian online insurance market to grow from $49.5bn in 2024 to $76.59bn by 2029, driven by digital access and health insurance demand.

The Indian online insurance market is set to grow from $49.5 billion in 2024 to $76.59 billion by 2029, driven by increased internet use and smartphone access. Health insurance leads this sector, fueled by rising awareness and healthcare costs. Despite a 15% growth in the overall insurance sector, India's penetration at 4% remains below the global average. Innovative, digital-first solutions are essential to bridge a $40 billion protection gap and achieve the goal of insuring over a billion people by 2047.

October 23, 2024
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