Insurance bill is a historic move for the Indian insurance industry: Ajay Bimbhet

The investments would be channeled towards product innovations and to increase market penetration, Ajay Bimbhet says.

This passing of insurance bill is a historic move for the Indian insurance industry. Universal health being one of the primary motives of the new government, we can expect a sizeable FDI inflow into the Indian insurance industry.  The investments would be channeled towards product innovations and to increase market penetration. With better economic conditions now, we can expect a double-digit growth for the entire industry. We remain optimistic on the development.

The author is MD, Royal Sundaram Alliance Insurance Co Ltd.