Question : DEMAND FOR INSURANCE PRODUCTS



(a) whether there is good demand for insurance products in the country;

(b) if so, the details thereof;

(c) whether the Government is collaborating with any foreign company in bringing insurance products; and

(d) if so, the details thereof?

Answer given by the minister


MINISTER OF THE STATE IN THE MINISTRY OF FINANCE (SHRI PAWAN KUMAR BANSAL)

(a) & (b): Yes, Sir, Use of information technology and advent of new companies have considerably increased awareness of insurance and choice of insurance products amongst general public.

(c): No, Sir. However, Government has permitted foreign equity into Indian insurance companies upto 26%.

(d): Does not arise.