Navi Mumbai, Maharashtra -- (SBWIRE) -- 12/01/2011 -- The insurance sector in India has completed all the facets of competition –from being an open competitive market to being nationalized and then getting back to the form of a liberalized market once again. It is now contributing majorly in foreign investment and its contribution to the GDP has been increasing year on year, latest being 7% of the GDP. India insurance is a flourishing industry, with several national and international players competing and growing at rapid rates. http://www.bharatbook.com/detail.asp?id=214692&rt=Launching-an-Insurance-Company-in-India.html

Thanks to reforms and the easing of policy regulations, the Indian insurance sector been allowed to flourish, and as Indians become more familiar with different insurance products. Moreover, with a huge population base in India and large untapped market, insurance industry is a big opportunity area in India for national as well as foreign investors. India is the 11th largest life insurance market on the global front and is growing 26% annually. This impressive growth in the market has been driven by high product awareness, product innovation and promoting consumer education and information by insurers. Moreover, Indian Insurance companies today offer a comprehensive range of insurance plans, the most common types of insurance includes: term life policies, endowment policies, joint life policies, whole life policies, loan cover term assurance policies, unit-linked insurance plans, group policies, pension plans, annuities, motor insurance, home insurance, travel insurance and health insurance.

Hence, the strong growth potential has made international players to look at the Indian insurance market. The report outlines the method of launching an Insurance company in India, with a complete idea of the market strategy that needs to be followed, the key drivers and road blokers in the way.