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Low Insurance Penetration
• Insurance penetration is measured by Premium as a percentage of GDP.
• We will come to know about the potential when we compare the difference in penetration level in India with other countries of the world.
Life Insurance Penetration for the year 2013-14
Country | Penetration (%) |
Taiwan | 14.50 |
South Africa | 12.70 |
Hong Kong | 11.70 |
Japan | 8.80 |
United Kingdom | 8.80 |
Finland | 8.70 |
South Korea | 7.50 |
Denmark | 6.90 |
Switzerland | 5.30 |
Singapore | 4.40 |
India | 3.10 |
Source: Swiss Re, Sigma 03/2014