Inclusive Growth through Insupreneurship A study with reference to Life Insurance in India / Rao, K
By: Rao, K Nagaraja
Material type:
ArticlePublisher: 2011Subject(s): Life Insurance India | Inclusive Growth | Insupreneurship | Insurance | Micro-Enterprises | Entrepreneurship And Micro-Enterprises | Entrepreneurship | Ninth Biennial Conference On Entrepreneu | Biennial Conference Papers
In:
Ninth Biennial Conference on EntrepreneurshipSummary: India boasts of 16% of the world population, but has only 1.68% of the world insurance market as at 2006 (Source: World Insurance Report by Capgemeni). Around 21% of insurable population of India is covered by the all twenty and odd life insurance companies and there is a mine of opportunity untapped in the rural areas. Lack of entrepreneurial skills on the part of insurance distributors, particularly agents, is one of the causes resulting in deprivation of life insurance to the rural people and thus they are not part of inclusive growth. The needs of the customers are not analyzed before canvassing life insurance and hence insurance is almost always sold and never bought. In order to analyze the insurance needs and the canvassing pattern, a survey is conducted and responses are gathered from 500 customers and 200 agents of Bangalore and Kolar rural districts. The data is tabulated and by applying SPSS package, necessary statistical tests are conducted to analyze the trends. The results indicate that all the rural credit is not insured even though the borrowers have inclination to cover the loans. The retirement needs of the rural people are seldom addressed by the insurance...
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Ahmedabad (HO) | (Browse shelf) | Vol. , Issue. | Available | 019339 |
India boasts of 16% of the world population, but has only 1.68% of the world insurance market as at 2006 (Source: World Insurance Report by Capgemeni). Around 21% of insurable population of India is covered by the all twenty and odd life insurance companies and there is a mine of opportunity untapped in the rural areas. Lack of entrepreneurial skills on the part of insurance distributors, particularly agents, is one of the causes resulting in deprivation of life insurance to the rural people and thus they are not part of inclusive growth. The needs of the customers are not analyzed before canvassing life insurance and hence insurance is almost always sold and never bought. In order to analyze the insurance needs and the canvassing pattern, a survey is conducted and responses are gathered from 500 customers and 200 agents of Bangalore and Kolar rural districts. The data is tabulated and by applying SPSS package, necessary statistical tests are conducted to analyze the trends. The results indicate that all the rural credit is not insured even though the borrowers have inclination to cover the loans. The retirement needs of the rural people are seldom addressed by the insurance...
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