Insurance Industry

Why it matters

• Acts as a vital mechanism for long-term capital mobilization, channeling household savings into productive investments and infrastructure development.
• Provides a social safety net by mitigating financial shocks for individuals and businesses, thereby promoting economic stability.
• Facilitates international trade and domestic commerce by underwriting risks associated with logistics, liability, and asset protection.

How it is asked

Focus on the regulatory framework governing the sector, the role of the Insurance Regulatory and Development Authority of India (IRDAI), the impact of Foreign Direct Investment (FDI) limits, and the transition toward 'Insurance for All' as a tool for financial inclusion.